Wednesday, January 6, 2016

Wednesday roundup (01-06-16)

Oil prices crash to 11-year low: Jitters over global overproduction take toll on benchmark Brent crude, fuelling a third successive day of losses (The Guardian)

A "Perfect Storm Is Coming" Deutsche Warns As Baltic Dry Falls To New Record Low (ZeroHedge blog)

Eurozone inflation stays low, missing expectations (Marketwatch)

Brexit Danger: The EU Strategy to Keep Britain from Leaving: This summer, Britain will vote on whether to remain in the European Union. The skeptic camp appears to be gaining ground -- and EU leaders are growing concerned. They have developed a plan to give in to most of Cameron's EU reform demands. (Spiegel Online)

Osborne warns of 'dangerous cocktail' of economic risks [to the UK] (The BBC)

BOJ's Kuroda: willing to take bold steps if needed for price target (Reuters)

[In the United States,] Fischer Worries Fed Can't Head Off or Contain Financial Crises [Jan. 4] (Bloomberg)

Clinton Defends Big Banks & Repeal of Glass-Steagall by Martin Armstrong (Armstrong Economics blog)

Is Your Bank Too Big to Fail? Probably! Check Out This Handy List (Time)

Puerto Rico misses second major debt payment as economy struggles [Jan. 5] (The BBC)

Macy's to Cut up to 4,800 Jobs After Weak Holiday Sales (The Associated Press)

Monsanto Eliminating 1,000 More Jobs to Cut Costs (The Associated Press) Monsanto to slash 1,000 more jobs, total planned cuts at 3,600 (Reuters)

First Quantum to Cut 730 Jobs at Zambia Copper Mine: State TV (Bloomberg)

SolarCity to cut 550 jobs in Nevada (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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