Tuesday, February 2, 2016

Tuesday roundup (02-2-16)

New financial MELTDOWN set to sink EU as German banks lose £14,292,610,000.00 in 90 DAYS: EUROPE'S biggest economy was plunged into fresh chaos tonight amid warnings a new financial crisis in Germany could destroy the EU. (The Express)

Iowa Caucus Results [in Race for President of the United States] (The Des Moines Register) New Hampshire Is Next: Here Are 5 Things To Know (WBUR) Polls Were Way Off on Donald Trump. Here’s What It Means. (The New York Times) Coin toss broke 6 Clinton-Sanders deadlocks in Iowa — and Hillary won each time (Marketwatch) Democracy of the Billionaires: The Most Expensive Election Ever Is A Billionaire’s Playground (Except for Bernie Sanders) by Nomi Prins (CommonDreams)

White House says Republicans co-own legacy of record $19 trillion debt (Marketwatch)

Recent SEC Actions Charging Dark Pools (The Big Picture blog)

Exxon Faces First [Credit] Downgrade Since Depression as Oil Rout Worsens (Bloomberg)

Is Yahoo up for sale? CEO Marissa Mayer fires 1,700 workers, closes five offices and 'explores strategic alternatives' as she fights for her job (The Daily Mail)

BP to cut another 3,000 jobs after $5.2 bln loss (Marketwatch)

Sanofi plans to cut 600 jobs in France over 3 yrs (Marketwatch)

     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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