Tuesday, January 19, 2016

Tuesday roundup (01-19-16)

IMF Cuts Global Growth Forecast to 3.4% in Year of ‘Great Challenges’ (Bloomberg)

World faces wave of epic debt defaults, fears central bank veteran: Situation worse than it was in 2007, says chairman of the OECD's review committee by Ambrose Evans-Pritchard (The Telegraph)

Oil market could drown in oversupply in 2016, says IEA: International Energy Agency predicts increase in supply after lifting of sanctions against Iran, pushing prices down further (The Guardian) Iran Set to Pump More Oil Into Market Glut (The New York Times) Oil price falls below $28 a barrel - less than cost of an actual barrel (The Mirror)

Italian Banks’ Bad Loans Continue to Mount: Several of nation’s banks come under ECB review of bad loan holdings (The Wall Street Journal) Italy bank stocks in fresh meltdown over toxic loans (Agence France Presse) ECB seeks bad loan data from UniCredit and other Italy banks (Reuters)

Portugal's austerity reversal may spell budget trouble (Reuters)

BoE's Carney says has no timetable for raising record-low UK rates (Reuters)

Canada watchdog sees household debt ratio climbing in 2016 (Reuters)

Large federal debt [in the United States] remains a major problem [Editorial] (The Florida Times-Union of Jacksonville, Florida)

A key US economic indicator is on an ugly streak that has never occurred outside a recession (The Business Insider)

Atlantic City, N.J., mayor says bankruptcy 'back on the table' (Reuters)

J&J to cut 3,000 jobs in struggling device division (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.

No comments:

Post a Comment