Friday, April 22, 2016

Friday roundup (04-22-16)

We can’t save the economy unless we fix our debt addiction (The Washington Post)

ECB action fails to ignite euro zone economy (CNBC)

Austerity is undermining a common European identity. Will fascism result? (The Washington Post)

Greek bailout deal talks constructive, say EU finance ministers: Eurogroup meeting ends with a proposal for Greece to agree to contingency measures that could unlock further chunks of bailout money (The Guardian) Greece bailout talks make 'progress' (The BBC)

U.S. manufacturing gauge falls to lowest in more than six years (Marketwatch)

[Canada's] Cameco cutting 500 jobs at Rabbit Lake uranium mine: Company says low commodity prices forces mining company to suspend Rabbit Lake operations (The Canadian Broadcasting Corporation)

     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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