Wednesday, December 16, 2015

Wednesday roundup (12-16-15)

Shipping Index Plunges to Fresh Record Amid China Steel Slump (Bloomberg)

After Portugal Upset, Spain Braces for Messy Ballot Result (The Associated Press)

Will Bank of England follow Fed rate hike in 2016? (CNBC)

Fed raises interest rates, citing ongoing U.S. recovery (Reuters)

Why Very Low Interest Rates May Stick Around (The New York Times)

Banks raise prime rates; Wells Fargo moves to 3.5% (CNBC)

Obama opens White House doors to forge CEO alliances (Reuters) Which Corporations Own The White House (ZeroHedge blog)

How Marco Rubio is quietly killing Obamacare (The Washington Post)

Congress offers no lifeline as Puerto Rico heads toward default (The Washington Post) Governor of Puerto Rico Warns of Looming Default Without Bankruptcy Plan (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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