Wednesday, December 30, 2015

Wednesday roundup (12-30-15)

Global growth will be disappointing in 2016 - IMF's Lagarde (Reuters)

Puerto Rico will default on $37m in debt on New Year's Day, governor confirms: Island commonwealth faces close to $1bn in interest payments in 2016 but governor says it will do ‘all it can’ to avoid shutting down government services (The Guardian) Governor: Puerto Rico to Default on $37M in Interest Due (The Associated Press) [But] Puerto Rico avoids [a more massive] loan default by dipping into cash reserves (The Washington Post)

     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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