Friday, January 15, 2016

Friday roundup (01-15-16)

Oil Price Falls as Global Growth Anxiety Weighs on Markets (The New York Times) Oil Tumbles Below $30 With Brent at Biggest Discount Since 2010 (Bloomberg)



Baltic index slump continues on demand concerns (Reuters)

Lagarde tempers assumption of IMF role in third Greek bailout: A day after Greece assured eurozone officials of its conviction that the IMF have a role in a third bailout, the fund's chief, Christine Lagarde, has said it may need months to decide whether to get involved at all. (Deutsche Welle)

[In the United State,] Rate rise calls evaporate as markets plunge, murmurs of Fed reversal (Reuters) Janet Yellen and Fed left with face full of egg after interest rate rise blunder: Four weeks and one market meltdown later, US central bank’s decision to opt for early rate hike no longer looks so clever (The Guardian blogs)

Economic Growth in U.S. Cracking Under Strain of Global Slowdown (Bloomberg)

Retail Sales in U.S. Decrease to End Weakest Year Since 2009 (Bloomberg)

NEW YORK-AREA MANUFACTURING COLLAPSES, WORST SINCE THE GREAT RECESSION (The Business Insider)

Treasury Secretary to Congress: Help Puerto Rico (The Associated Press) U.S. Treasury's Lew urges action on Puerto Rico ahead of [Jan. 20] visit (Reuters)

Only Republican Voters Can Stop Donald Trump Now (The New Yorker)

Walmart will close 269 stores this year, affecting 16,000 workers (CNNMoney) America's most iconic retailers are shutting down stores and laying off thousands — and this could be just the beginning (The Business Insider)

     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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