Monday, January 25, 2016

Monday roundup (01-25-16)

U.S. crude drops back below $30 as Iraq adds record output (Reuters)

Why the Black Hole of Deflation Is Swallowing the Entire World … Even After Central Banks Have Pumped Trillions Into the Economy (Washington's Blog)

Democracy is broken all over Europe (Global Post)

Russian Economy Shrinks Most Since 2009 as Oil Prices Sink (Bloomberg) Worrying data raise Russia recession odds: Economist (CNBC)

States Deal With a Variety of Issues After Historic Blizzard (The Associated Press) East Coast digs out after blizzard as flights, transit remain snarled (The Washington Post) Blizzard will cost up to $3 billion (CNNMoney) At Least 40 Dead After Historic Blizzard Hits East Coast: It was billed as the storm of a generation and, as promised, it clobbered much of the East Coast, surprising some cities with an even bigger punch than expected.  (NBC Nightly News with Lester Holt)

State Budget Deficit [in Connecticut] Increases to $72 Million (The Hartford Courant)

Sprint slashes 2,500 jobs to cut costs (Reuters)

     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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