Friday, February 12, 2016

Friday roundup (02-12-16)

The world can't afford another financial crash – it could destroy capitalism as we know it: A new economic crisis would trigger a political backlash in Britain, Europe and the United States which could drag us all down into poverty (The Telegraph)

Eurozone economy ends 2015 with whimper as dark clouds grow (The Associated Press) Eurozone recovery falters as Greece slips back into recession: Italy slows to near stagnation as eurozone GDP expands just 0.3% in final quarter despite ECB stimulus and cheap oil (The Guardian) Germany fails to lift euro zone GDP (CNBC)

The Deutsche Bank Saga Proves We Haven’t Fixed Too Big to Fail (The Fiscal Times)

Italian Economy Barely Expands, Casting Doubts on Outlook (Bloomberg) Stagnating Italy poses new headache for stuttering eurozone: Prime minister Matteo Renzi hits out at Brussels' austerity medicine as euro's third largest economy grinds to a halt (The Telegraph)

UK student loans: 'we will trace and prosecute borrowers who don't pay': Universities minister Jo Johnson promises stronger action on student debtors, including tracking expats in Australia (The Guardian)

Where Did El Nino Go? Heat, Dry Spell Stoke Drought Worry (The Associated Press)

     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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