Monday, March 21, 2016

Monday roundup (03-21-16)

These Eight EU Countries Are in the Budget Danger Zone: For the 28 members of the European Union, managing public finances comes down to a single all-important number: three (Bloomberg)

Concerns for growth as Eurozone consumer confidence edges down to 13-month low (CityAM) Eurozone Consumer Confidence Down for Third Straight Month: Draining of optimism from households threatens to stunt currency area’s already modest recovery (The Wall Street Journal)

Eurozone heading for a new crisis (Nikkei Asian Review)

Germany should leave euro zone: Mervyn King (CNBC)

How a ‘Brexit’ could cost U.K. £100 billion and a million jobs: Exit from EU would be a ‘serious shock’, CBI says (Marketwatch)

U.S. existing home sales tumble in warning sign for housing market (Reuters)

America's explosion of income inequality, in one amazing animated chart (The Los Angeles Times)

Alaska budget deficit just jumped $300M because of low oil prices, Walker administration says (Alaska Dispatch News)

U.S. Steel to Idle Two Plants, Cut Up to 770 Jobs Amid Oil Rout (Bloomberg)

     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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