Wednesday, April 13, 2016

Wednesday roundup (04-13-16)

We’re running out of water, and the world’s powers are very worried (RevealNews)

How negative interest rates take money out of your pocket: Negative Thinking: Income-focused savers pay stiff price for central bankers’ failures by Satyajit Das (Marketwatch)

IMF Warns of Possible ‘Spiral’ of Waning Growth, Escalating Debt (Bloomberg)

France and Spain stuck in deflation (The Financial Times)

The charts that show British households are borrowing hard again: Unsecured household consumer credit is rising at at an annual rate of 9.3 per cent - the fastest since before the financial crisis. (The Independent)

China's leaders are blowing their last chance to avert an economic crisis -- ["While the IMF does not use the term, China is basically in a 'debt-deflation' trap."] by Ambrose Evans-Pritchard (The Telegraph)

When Will the Powers That Be Notice That Japan's Insolvent? (TheStreet)

Retail Sales Unexpectedly Fall as U.S. Consumers Scrimp (Bloomberg)

Five major banks fail bailout test, would need taxpayer money in crisis: Bank of America, JPMorgan Chase, Wells Fargo, others must improve 'living wills' (HousingWire) Some big US banks have 6 months to shape up plans (The Associated Press)

American Apparel Lays Off Hundreds [= More Than 500]: While laying off hundreds of employees, the struggling clothing company reportedly considers outsourcing its manufacturing. (Patch)

     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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