Tuesday, February 16, 2016

Tuesday roundup (02-16-16)

4 Billion People at Risk as 'Water Table Dropping All Over the World': Global scarcity of key life source far worse than thought, new study finds (CommonDreams)

Oil Holds Near $29 as Saudis, Russia Freeze Output Amid Surplus (Bloomberg)

ECB back in court as German group seek[s] to curb its power (Reuters)

BOJ launches negative rates, already dubbed a failure by markets (Reuters) Why Would Anyone Buy a Negative Interest Bearing Bond? (Pragmatic Capitalism) Why Negative Interest Rates Will Fail (Mises Institute)

[In the United States,] Banks blindsided by former Bush official: 'The biggest banks are still too big to fail and continue to pose a significant, ongoing risk to our economy.' (Politico) Architect of 2008 bailout says US banks still pose 'nuclear' threat to economy: Neel Kashkari, head of the Minneapolis Federal Reserve, said US’s biggest banks are still ‘too big too fail’ and Congress should consider ‘bold solutions’ (The Guardian) Lessons from the Crisis: Ending Too Big to Fail by Neel Kashkari (The Federal Reserve Bank of Minneapolis)

Left-Leaning Economists Question Cost of Bernie Sanders’s Plans [-- saying "increase [in the] size of the federal government ... could exceed 50 percent" in a Sanders administration] (The New York Times)

Anglo American set to slash 85,000 jobs and sell off assets to reduce debt following £3.9bn loss (This is Money)

     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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