Tuesday, January 12, 2016

Tuesday roundup (01-12-16)

Oil crashes to $30 a barrel (CNNMoney) Tumbling oil trades below $30 a barrel for first time in 12 years (Reuters) Oil price forecast to fall to $20 a barrel, predicts Morgan Stanley: Leading Wall Street bank says price will keep falling if China’s currency continues its plunge against US dollar (The Guardian)

Another Great Recession threatens world financial markets: Mr. Global Economy is comatose and not improving by Satyajit Das (Marketwatch)

The Swiss are being asked to delay paying taxes because negative interest rates punish towns for holding money (The Business Insider)

How Would Democratic Presidential Hopefuls [in the United States] Reform Wall Street?: Each Democratic candidate has a plan to clean up the banks. The difference is in the details. by Simon Johnson (Moyers & Company)

Pat Buchanan says Donald Trump is the future of the Republican Party (The Washington Post)

BP Plans to Cut 4,000 More Jobs as Crude-Oil Slump Deepens (Bloomberg)

More layoffs [= about 530] announced for BAE Systems Norfolk shipyard (WTKR)

     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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