Friday, April 8, 2016

Friday roundup (04-08-16)

Italy to Miss Previous Debt Target as Growth Forecast Cut (Bloomberg)

Yen's surge against US dollar revives deflation jitters: Japan’s currency has gained 12% against the dollar this year, increasing pressure on the Bank of Japan to take action (The Guardian)

First-quarter economy [in the United States] looks bleaker by the day (CNBC)

Fed To Hold Closed, Unexpected Meeting Under "Expedited Procedures" On Monday To Discuss Rates (ZeroHedge blog)

Wells Fargo to pay $1.2 billion for hiding bad loans before housing crash (CNNMoney)

Why the Banks Should Be Broken Up: Bernie or no Bernie, 'Times' columnist Paul Krugman is wrong about the banks by Matt Taibi (Rolling Stone)

[Connecticut Gov.] Malloy: Up to 2,000 state employee layoffs coming as early as next week (Fox61)

     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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