Thursday, April 7, 2016

Thursday roundup (04-07-16)

Can Matteo Renzi Save Europe from Austerity?: The last best hope of Europe’s anti-austerity forces faces an uncertain future. (The American Prospect)

China’s debt is growing faster than its economy and analysts said there’s no quick fix: Chinese levels of borrowing may be Asia’s greatest economic risk, they said (South China Morning Post)

U.S. readies bank rule on shell companies amid 'Panama Papers' fury (Reuters)

The man who predicted the Great Recession says we're not ready to handle the next downturn (Marketplace)

SocGen warns of ‘tidal wave of corporate default’ [The Financial Times via] (CNBC) [See related Bloomberg stories in yesterday's blog post.]

JPMorgan opposes breakup proposal (USAToday)

U.S. failed to show how MetLife is “too big to fail,” judge says (The Washington Post) MetLife's 'too big to fail' tag is 'arbitrary, capricious': U.S. judge (Reuters)

Nokia Said to Cut as Much as 14% of Workforce [= about 10,000 to 15,000 positions] After Alcatel Deal (Bloomberg) [Adds specificity to yesterday's post mentioning the loss of "thousands" of jobs.]

Chevron cutting 655 Houston jobs amid oil bust (FuelFix blog)

     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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