Tuesday, May 10, 2016

Tuesday roundup (05-10-16)

Eurozone recovery wilts as sugar rush fades, deflation lurks by Ambrose Evans-Pritchard (The Telegraph)

Devastating MORI poll shows Europe's peoples share British rage over EU by Ambrose Evans-Pritchard (The Telegraph)

Will Greece ever be able to pay off its debts?: Leaked analysis by European rescue fund suggests debt is unaffordable even after relief measures (The Week)

'Everyone’s outraged': angry Greeks foresee Grexit and drachma's revival: Greece faces its toughest austerity measures yet, with €5.4bn of budget cuts backed by the leftist government of Alexis Tsipras (The Guardian)

Quiet crisis: why battle to prop up Italy's banks is vital to EU stability: Forget Brexit or Grexit, €360bn of bad loans within a fragmented Italian banking sector could be the biggest threat of all (The Guardian)

Carnage in the oil patch, summed up in one telling infographic: The number of filings nears what we saw during telecom bust (Marketwatch)

     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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