Friday, May 27, 2016

Friday roundup (05-27-2016)

We are at The Edge of Meltdown by Martin Armstrong (Armstrong Economics blog) ["Once the plug is pulled, everything will go down the drain very rapidly."] (Armstrong Economics blog)

We are headed for economic crisis due to debt: Lacy Hunt (Youtube)

Austerity policies do more harm than good, IMF study concludes: Economists give strong critique of neoliberal doctrine ushered in by Ronald Reagan and Margaret Thatcher in the 1980s (The Guardian) Neoliberalism is increasing inequality and stunting economic growth, IMF says: After forty years the international organisation warns that parts of the economic approach are not delivering (The Independent)

Brexit would be serious risk to global economic growth: G7 leaders (Reuters)

[In the United States,] Yellen says Fed rate hike likely appropriate in coming months (Reuters)

Donald Trump Has Delegate Majority for Republican Nomination, The A.P. Says (The New York Times)

Farm Belt Banks Tighten the Buckle: Farmers find loans harder to come by amid rise in delinquencies, forcing some to turn to alternative lenders (The Wall Street Journal)

     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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