Saturday, May 28, 2016

Saturday roundup (05-28-2016)

Third Parties Rising Throughout Europe by Martin Armstrong (Armstrong Economics blog)

Italy’s broken banks show the dangers behind the euro (The Telegraph)

Portugal is Europe's next looming economic disaster (The Business Insider)

America’s ‘recovery’ is baloney — we’re actually broke (The New York Post) The Secret Shame of Middle-Class Americans: Nearly half of Americans would have trouble finding $400 to pay for an emergency. I’m one of them. (The Atlantic)

May 2016: Unofficial Problem Bank list declines to 205 Institutions (Calculated Risk blog)

Tweets of gang rape in Rio de Janeiro highlight breakdown of order [-- "The state’s budget has collapsed alongside the price of the offshore oil on which it depends, and police have been hit with a massive cut in funding."] (The Globe and Mail of Toronto)

[500] Layoffs Announced For SCS [Shelby County Schools] Teachers (WATN of Memphis, Tennessee)

     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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