Sunday, December 20, 2015

Sunday roundup (12-20-15)

This is how much money exists in the entire world, in one chart: There is $1.2 quadrillion invested in derivatives alone. (Marketwatch)

Europe's year from hell may presage worse to come (Reuters)

After jumping over one hurdle, Greece faces another with pensions (CNBC)

Left-wing parties take the lead in Spanish elections (Reuters) Spain's ruling party [wins the most votes but] could be out after big vote for upstarts, government prospects uncertain (The Associated Press)

U.S. gas prices fall to lowest in more than six years: survey (Reuters) Gas falls to $2 a gallon (CNNMoney)

Illinois and Pa. are 170 days overdue on their budgets [Dec. 18] (CNNMoney)

Inside the Billion-Dollar Battle for Puerto Rico’s Future (The New York Times)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

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