Wednesday, December 23, 2015

Wednesday roundup (12-23-15)

Cheap oil kicks euro zone inflation expectations to lowest since October (Reuters)

Don't bet on a happy new year for Greece (CNBC)

Spain has rejected austerity. So what does it do now? (The Spectator blogs)

Bank fight highlights weakness of Portugal’s left-wing alliance: Portugal’s Socialist government needed help from the right to approve bank deal. (Politico)

UK economic growth revised down to quarterly 0.4 percent in Q3 (The Associated Press) Slowing UK growth leaves Bank of England unhurried on rates (Reuters)

Japan government approves $800 billion budget that aims to spur growth, contain debt (Reuters)

Sales of New Homes in U.S. Were Weaker Than Forecast in November (Bloomberg) The Housing Recovery Was Just Cancelled (Again) Due To 5 Months Of Downward Revisions (ZeroHedge blog) Is there more trouble hidden in November’s new home sales data?: New home sales rise in November…sorta (HousingWire)

[Meanwhile] [Existing] Home sales drop sharply in November as closing process lengthens (USAToday)

     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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