Thursday, February 25, 2016

Thursday roundup (02-25-16)

IMF warns the global economy is 'highly vulnerable' (The BBC)

Global Recession Risk ["sub-2% growth"] Rising, Says Citi: Citi thinks the risk of a global recession is rising, with the latest deterioration driven by advanced economies (The Wall Street Journal blogs) Here's The Latest Bank to Predict a Global Recession (Fortune)

OECD's William White: In Terms of Debt, the Situation Is Way Worse than 2007 (Financial Sense)

Eurozone Inflation Revised Down, Bolstering Stimulus Case (The Associated Press)

Fears EU is self-destructing on migrant crisis (CNBC)

Brexit referendum could destabilise UK recovery, says IMF: Christine Lagarde warns that uncertainty over outcome ‘will be bad in and of itself’ in months leading up to vote (The Guardian)

1 in 4 Americans on verge of financial ruin (Marketwatch)

Recession 2016: In Some States, A Very Deep Economic Downturn Has Already Arrived (The Economic Collapse Blog)

Break up big US banks like Ma Bell: Fed's Bullard (CNBC) Fed's Bullard says largest banks may still be too big: CNBC (Reuters)

U.S. Congress needs to 'act now' to save Puerto Rico, Treasury official says (Fox News Latino) US: Puerto Rico could shut down if no debt restructuring (The Associated Press)

As Roads Crumble, Infrastructure Spending Hits a 30-Year Low (The Fiscal Times)

Trump as CEO and commander in chief? (CNBC)

Biggest Wave Yet of U.S. Oil Defaults Looms as Bust Intensifies (Bloomberg)

Oil crash: Halliburton slashes another 5,000 jobs (CNNMoney)

     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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