Friday, May 6, 2016

Friday roundup (05-06-16)

Warnings mount on world's corporate debt, China crisis by Ambrose Evans-Pritchard (The Telegraph)

Lagarde [In A Leaked Letter] Says IMF Won't Join Greece Bailout Until Budget Gap Shut (Bloomberg) Lagarde to Eurozone: IMF Won’t Budge on Greece (The Wall Street Journal blogs)

Poland Holds Rates as Economic Bumps Compound Record Deflation (Bloomberg)

The UK Has Had Consumer Price Deflation For 3 Years Now: Thus Wages Are Getting Better (Forbes)

If [the United States] Congress won't act, we'll need a bailout: Puerto Rico gov (CNBC)

Largest Banks Still Need to Be Downsized, Says Former Regulator (TheStreet)

Banking Insiders Agree With Bernie Sanders -- Break Them Up (Inquisitr) The next president could be forced to break up big Wall Street banks, even if they don’t want to (Fusion) POLITICO’s first-ever Caucus of finance industry experts narrowly supports drastic regulatory action. [May 3] (Politico)

Regulators Close Small Pennsylvania Bank (The Associated Press) First CornerStone Bank of King of Prussia PA had a troubled assets ratio of 209 percent. (BankTracker)

     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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