Monday, May 2, 2016

Monday roundup (05-02-16)

Get set for 'diminishing returns' from Draghi's bazooka: Moody's (CNBC)

Eurozone factory growth weakens despite heavy discounting: Manufacturing PMI edges up to 51.7 in April but survey shows mixed picture given steep price cuts to attract customers (The Guardian) Latest PMI survey suggests Eurozone's manufacturers are not feeling the economic recovery (CityAM)

Slow progress on Greek reform, debt talks, May 9 deal unlikely: sources (Reuters)

Italian banks under pressure as Popolare di Vicenza IPO fails: Stock market in Milan forbids Italy’s eighth largest lender from listing after investors bought just 7.7% of €1.5bn share issue (The Guardian)

Business confidence slumps to four year low [in the UK] (The Telegraph)

Lew Urges Congress to Act on Puerto Rico to Avoid Bailout (Bloomberg)

Buffett says if the government did THIS [= "said interest rates are going to be zero for 50 years"] the Dow could hit 100K (CNBC)

Puerto Rico Defaults on Principal of $422 Million Debt Payment (The New York Times blogs) Puerto Rico Warns of More Defaults After Missing May Payment (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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