Saturday, April 9, 2016

Saturday roundup (04-09-16)

Three Oil Majors Have Debt Ratings Cut by Moody's on Price Rout (Bloomberg)

Puerto Rico Declares Emergency Period for Development Bank (Bloomberg) Puerto Rico governor declares emergency at Government Development Bank (Reuters)

Puerto Rico Rescue Bill Nears Completion in House Committee (The New York Times blogs)

     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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