Monday, April 11, 2016

Monday roundup (04-11-16)

Negative rates could fuel fresh 'boom and bust', IMF warns (The Telegraph)

‘Europe has to change course’: Greece and Portugal unite to lambast EU (The Telegraph)

ECB seeks to mollify Germany after dispute over 'helicopter money' (Reuters) Mario Bothers: Germany Takes Aim at the European Central Bank: Business and political leaders in Germany are increasingly frustrated with the monetary policies of European Central Bank head Mario Draghi. Recently, the confrontation has threatened to become damaging to the euro zone. (Spiegel Online)

Italy Forms $5.7 Billion Fund to End Doubts About Banking System (Bloomberg)

Weak UK industry data set to weigh on economic growth: Crude steel production falls to lowest since December 2008 while manufacturing output drops 1.8% year on year (The Guardian) U.K. Economy May Be Heading for Its Worst Quarter Since 2012 (Bloomberg)

Olivier Blanchard eyes ugly 'end game' for Japan on debt spiral by Ambrose Evans-Pritchard (The Telegraph)

The worrying market denial about Japan (The Hill blogs)

Japan Desperately Needs a Stronger Dollar, China Desperately Wants a Weaker Dollar: The Fed Can't Please Both by Charles Hugh Smith (of two minds blog)

Obama can appoint Merrick Garland to the [United States] Supreme Court if the Senate does nothing (The Washington Post)

Goldman Sachs to pay $5 billion in U.S. Justice Dept mortgage bond pact (Reuters) Goldman Mortgage Settlement Is Much Less Than Meets the Eye (The New York Times blogs)

Marine Harvest to cut 500 jobs in Chile (Marketwatch)

     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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