Thursday, April 28, 2016

Thursday roundup (04-28-16)

Greek deal closer, euro zone finance ministers to meet May 9 (Reuters)

Yanis Varoufakis: Bailouts of Greece are Pretense for Massive Payout for German and French Banks (Democracy Now!) Former Greek Finance Minister: Massive IMF Bailouts are "Ponzi Austerity" Scheme (Democracy Now!)

Deutsche Bank Q1 'most challenging in several decades': CFO (CNBC)

Japan's Abenomics 'dead in the water' after US currency warnings by Ambrose Evans-Pritchard (The Telegraph)

U.S. economy stalls in first quarter as activity weakens broadly (Reuters) Sluggish US growth forms part of a worrying global trend: The global economy is running out of steam and the conventional weapons are increasingly ineffective (The Guardian)

Americans' confidence in economy at 2016 low (CNNMoney)

Atlantic City, America’s Worst-Rated Town, Stares at Default: ‘We’re down to a couple of million dollars on any given day,’ mayor says (The Wall Street Journal)

Brazil Posts Worst Primary Budget Deficit for March on Record (Bloomberg)

     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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