Tuesday, March 1, 2016

Tuesday roundup (03-01-16)

Euro depression is 'deliberate' EU choice, says former Bank of England chief [Mervyn King] (The Telegraph)

China to lay off five to six million workers, earmarks at least $23 billion (Reuters)

U.S. Has Record 10th Straight Year Without 3% Growth in GDP (CNSNews)

U.S. in longest manufacturing recession since 2009 (CNNMoney)

Where the Presidential Candidates Stand on Money Issues (Time)

#NeverTrump and the coming schism in the Republican Party, explained (Vox) Inside the Republican Party’s Desperate Mission to Stop Donald Trump (The New York Times) Folks Before Kochs: To save itself, the Republican Party must finally put the working class ahead of the donor class. (Slate) The Die-Hard Republicans Who Say #NeverTrump (BloombergView)

Former Chesapeake CEO McClendon charged with bid-rigging of land leases (Reuters)

Chesapeake's AIG Moment: Energy Giant Faces $1 Billion In Collateral Calls (ZeroHedge blog)

Scaling a $9.5 Trillion Debt Wall (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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