Saturday, May 7, 2016

Saturday roundup (05-07-16)

Greek debt crisis threatens to flare up ahead of Brexit vote (The Telegraph)

Greece braces for new austerity-induced pension cuts: Greece's government is set to pass controversial pension cuts on Sunday. Retirees are livid, and unions are on strike, Jannis Papadimitriou reports from Athens. (Deutsche Welle)

There's a big warning sign that the wheels of the US economy may be grinding to a halt (The Business Insider)

[Republican Presidential Candidate] Donald Trump Announces Debt Plan That Would Collapse Entire Global Economy (The Huffington Post) Clinton campaign: Trump economic policy would 'risk a global financial meltdown' (Politico) [But] Donald Trump's Glorious Threat To Default On The National Debt Is Just The Conventional Wisdom (Forbes)

Minneapolis fed chief prepares for second symposium on big banks: The Federal Reserve Bank of Minneapolis next week will have its second symposium on what to do about the risk of having to bail out a bank that is still too big to fail. (The Star-Tribune of Minneapolis)

First Cornerstone Bank, King of Prussia, PA – Largest Bank Failure of 2016 [as posted here yesterday] (Problem Bank List)

     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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