Thursday, March 24, 2016

Thursday roundup (03-24-16)

Epic oil glut gets worse (CNNMoney)

Global concerns weigh on eurozone recovery: ECB (Agence France Presse)

$2.8 billion bank rescue hurts Portuguese budget deficit (The Associated Press)

Chancellor George Osborne running out of options to reduce UK budget deficit warn economists (International Business Times)

Scotland facing deficit three times greater than UK: Forecast from the Institute for Fiscal Studies says a collapse in oil prices has left a growing gap between Scottish spending and tax income (The Guardian)

Kuwait’s budget deficit to reach $73bn in three years (Arabian Business)

Junk territory: U.S. corporate debt ratings near 15-year low (CNNMoney)

Barney Frank takes on Bernie Sanders and the ‘too big to fail’ argument (PBSNewshour)

Notorious Big: Why the spectre of size has always haunted American politics. (The New Yorker)

Illinois Supreme Court strikes down Chicago pensions plan (The Associated Press)

     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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