Wednesday, February 24, 2016

Wednesday roundup (02-24-16)

G-20 Needs to Take Bold Action on Global Growth, IMF Report Says (Bloomberg)

Banks Can't Fail as Europe Rolls Out Post-Crisis Stress Test (Bloomberg)

IMF urges UK to ease austerity should economy slow further: Fund’s report says risks of more severe downturn are mounting as UK government battles sluggish productivity growth (The Guardian)

Former Goldman exec wants to downsize big banks (PBSNewshour)



How the US Went Fascist: Mass Media Make Excuses for Trump Voters: Trump's racism and xenophobia violates America's core beliefs — yet the media and many Americans are okay with it. (Moyers & Company blog) The best predictor of Trump support isn't income, education, or age. It's authoritarianism. (Vox)

[Australian Mining Company] South32 to Slash 1,750 Jobs as First-Half Profit Slumps 94% (Bloomberg)

[US Telecommunications Manufacturer] Arris Laying Off 10% Worldwide: Cuts, Numbering 800 Plus, Follow Recent Acquisition of Pace (Multichannel)

Lexmark to cut about 550 jobs [Reuters via] (The Business Insider)

     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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