Thursday, February 4, 2016

Thursday roundup (02-4-16)

Euro zone cuts economic growth forecast (The Sydney Morning Herald) EU Slashes 2016 Inflation Forecast to 0.5% as Growth Seen Slower (Bloomberg)

France, Italy, Spain, Portugal seen breaking EU deficit rules-Commission (Reuters)

Bank of England votes 9-0 to keep interest rates on hold: Prospect of UK rate rise recedes further as Bank cuts forecasts for economic growth, wages and inflation (The Guardian)

Negative rates in US? Here's why it could happen (CNBC)

Announcing the Formation of the Bank Whistleblowers United by William K. Black (The Huffington Post) An Explanation of the Bank Whistleblowers United 60-Day Plan (New Economic Perspectives blog) Sanders vs. Clinton on Wall St. Reform: Former financial regulator Bill Black and Roosevelt Institute Fellow Mike Konczal take on the policies of the two contenders for the Democratic nomination (The Real News) Sanders vs. Clinton on Wall St. Reform (Youtube)

Weatherford to cut 6,000 jobs in first half of 2016 (FuelFix blog)

Credit Suisse announces 4,000 job cuts (USAToday)

Peugeot to cut 850 jobs at Poissy factory-sources (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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