Monday, May 9, 2016

Monday roundup (05-09-16)

All Of A Sudden, Fish Are Dying By The MILLIONS All Over The Planet (The Economic Collapse Blog)

Greek MPs approve toughest austerity measures yet amid rioting: Crucial meeting of eurozone finance ministers will be held on Monday amid backdrop of violence in Athens over cuts worth €5.4bn (The Guardian)

Man who foresaw oil crash bets against Saudi Arabia (CNNMoney)

IMF Says [Bank of Canada's] Poloz Should Consider Rate Cuts If Economy Falters (Bloomberg)

Lew, Lawmakers Intensify Puerto Rico Bill Push After Default (Bloomberg)

Donald Trump’s bizarre explanation of how the national debt works (The Washington Post)

Here are the massive tax breaks Trump is proposing for the rich (CNNMoney)

Hyundai Heavy Industries Will Cut Jobs [Up To 2,700?], Sell $1 Billion in Assets: ‘Orders are falling significantly, threatening the fate of the company,’ said the world’s largest shipbuilder (The Wall Street Journal)

More than 700 Qualitest jobs in Huntsville & Charlotte cut as company restructures (WHNT)

     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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