Friday, January 22, 2016

Friday roundup (01-22-16)

Euro zone business activity growth weakest since Feb (CNBC)

Eurozone may see negative inflation soon: ECB's Ewald Nowotny (Agence France Presse) Inflation expectations lower than at the start of ECB QE (Reuters)

Mario Draghi denies that ECB bazooka is empty amid fears QE is turning toxic: 'The side effects of the QE medicine are getting stronger: the curative effects are getting weaker', warns UBS chief Axel Weber by Ambrose Evans-Pritchard (The Telegraph)

Eurozone Could Ease Greek Debt in Future, Not Now, Eurogroup Head Says: Such action in the future would depend on Athens keeping a primary budget surplus, says Dijsselbloem (The Wall Street Journal)

Spain: Rajoy declines offer to form new govt for the moment (The Associated Press) Spain's anti-austerity Podemos proposes forming govt with Socialists (Agence France Presse)

Portugal's new Socialist government is promising to lower the country's budget deficit this year, while also scrapping unpopular austerity measures (The Associated Press)

Britain is now £1,542,000,000,000 in debt as George Osborne blows his OWN targets: GEORGE Osborne has failed to meet his own target for borrowing after it was revealed Britain’s debt has leapt £53BILLION over the current financial year to reach a staggering £1.542TRILLION. (The Express)

China's banking crisis looms like Banquo's Ghost in Davos: China is trapped. The more it burns through foreign reserves to defend the currency, the more it tightens domestic credit by Ambrose Evans-Pritchard (The Telegraph)

US Recession Fears: Does The Fed Have The Ammo To Fight Another Downturn? (International Business Times)

Fears of recession in industrial sector grow as pessimism deepens: GE and Alcoa have set a sobering tone for December quarter earnings (Marketwatch)

‘Too Big to Fail’ Banks Thriving a Few Years After Financial Crisis (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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