Thursday, January 28, 2016

Thursday roundup (01-28-16)

The $29 Trillion Corporate Debt Hangover That Could Spark a Recession (Bloomberg)

World Bank and IMF in emergency BAILOUT talks to save countries from bankruptcy over oil: TUMBLING oil prices are plunging emerging economies into financial crisis, sparking what could be the start of a global economy meltdown. (The Express) This oil producing country [= Azerbaijan] may need a bailout (CNNMoney) Azerbaijan to ask IMF for $3 bln aid, World Bank for $1 bln - source (Reuters)

Scandals wallop Deutsche Bank's bottom line: Deutsche Bank has logged a record multibillion euro loss for 2015. Germany's biggest lender is still reeling from a series of scandals, with litigation costs and restructuring efforts weighing down the former giant. (Deutsche Welle) Deutsche Bank expects 2018 will be its first ‘clean’ year (CNBC)

Bundesbank Brings Home German Gold From New York, Paris: Chart (Bloomberg)

A China bank contagion could blow up global markets (CNBC)

“Big Four” Banking Oligopoly in One Chart (The Big Picture blog)

Anglo's Kumba Iron Ore to Cut 3,900 Jobs After Prices Plunge (Bloomberg)

     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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