Wednesday, January 13, 2016

Wednesday roundup (01-13-16)

Gusher of supply keeps pounding oil prices (CNBC)

The Hidden Risk of Plummeting Oil Prices: War: Falling oil prices could mean rising global conflict. (The Nation)

Beware the great 2016 financial crisis, warns leading City pessimist: Albert Edwards joins RBS in warning of a new crash, saying oil price plunge and deflation from emerging markets will overwhelm central banks, tip the markets and collapse the eurozone (The Guardian)

Europe on the brink of financial MELTDOWN as Germany faces economic ruin: THE European financial powerhouse could be facing a huge financial crisis which would have devastating implications for Britain as a lethal storm of economic problems brews in Germany. (The Express)

Bank of England plans to get tougher on rule-breaking banker bonuses (Reuters)

Russia starts to feel the pain of $30 oil (CNBC)

What Would Goldman Sachs Do If It Lost Both Parties [In The United States Presidential Election[? by Martin Armstrong (Armstrong Economics blog)

"The Big Short" and Bernie's Plan to Bust Up Wall Street (Robert Reich blog)

The Rise of Shadow Banks and the Repeal of the Glass-Steagall Act (Truthout)

Undisclosed dollars dominate campaign spending: Candidates and their allies push the limits of the law, while regulators sit on the sidelines. (Politico)

GE says plans to cut 6,500 jobs in Europe in next two years (Reuters) GE Plans to Cut 6,500 Jobs in Europe After Alstom Purchase (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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