Wednesday, February 3, 2016

Wednesday roundup (02-3-16)

Euro-Area Price Cuts Intensify Pressure on Draghi to Act (Bloomberg)

Eurozone Economy 'Losing Steam' Amid Market Turmoil (The Associated Press)

Consumer debt default risk at post-crisis high: According to official figures, the average British household will owe £24,000 more by 2020 (The Week) Average Briton will be in debt until they are SIXTY-NINE - 12 years longer than they think says new study (The Daily Mail)

How large is the UK’s national debt, and why does it matter?: George Osborne has made it his mission to start paying down the Government's debts - why is he so devoted to this cause? (The Telegraph)

The World Bank is contemplating bailouts for two of the most corrupt petro-states on the planet (Quartz)

[In the United States,] Rand Paul suspends presidential campaign (The Washington Post) With Rand Paul gone, which candidate will ask the tough questions? (The Los Angeles Times) With Rand Paul out of the race, is there anyone left to fight the NSA? (The Verge) A Lament for Rand Paul: Without the Kentucky libertarian, the 2016 GOP race is all about more and bigger military interventions. (U. S. News & World Report)

Autodesk to cut jobs by 10 percent [= about 925] as it transitions to cloud (Reuters)

Dow Chemical to cut [500] more jobs ahead of DuPont merger [Reuters via] (CNBC)

British Gas to cut 500 jobs as it shuts insulation business: Supplier seeks cost efficiency by shutting down energy efficiency division (The Telegraph)

     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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