Monday, January 18, 2016

Monday roundup (01-18-16)

Richest 62 people as wealthy as half of world's population, says Oxfam: Charity says only higher wages, crackdown on tax dodging and higher investment in public services can stop divide widening (The Guardian) A world divided: Elites descend on Swiss Alps amid rising inequality (Reuters) 62 people own same as half world – Oxfam (Oxfam)

Oil slumps below $28 to 2003 low as Iran sanctions lifted (Reuters) Big banks brace for oil loans to implode (CNNMoney)

What Crisis Is The Gold/Oil Ratio Predicting This Time? (ZeroHedge blog)

Hollande Aims 2 Billion Euro Plan at France’s High Unemployment (The New York Times) Francois Hollande pledges to ‘redefine’ the French economic model to tackle unemployment crisis: French president admits that raft of reforms will be required to combat economy's joblessness problem (The Telegraph)

IMF resists a return to still-struggling Greece: IMF has still not decided whether it will participate in the third financial bailout for Greece (Agence France Presse) Greece says willing to discuss pension reforms with IMF (Reuters)

UK economy could be in stronger shape if Bank of England had cut rates below zero, says official: Gertjan Vlieghe argues that introducing negative interest rates in response to the crisis may have led to a stronger economic recovery (The Telegraph)

Puerto Rican officials seek debt restructuring to avoid looming defaults (The Washington Post) Puerto Rico Says Shortfall to Increase to $23.9 Billion (Bloomberg) Puerto Rico's debt crisis just got worse (CNNMoney)

     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.

No comments:

Post a Comment