Sunday, May 1, 2016

Sunday roundup (05-01-16)

Why we should all be worried about the global economy: Since 2007, global debt has grown by US$57 trillion and it's had disastrous results by Satyajit Das (The Independent)

Vijay Mallya, Indian ‘King of Good Times,’ Dethroned by Debt (The New York Times blogs)

MACQUARIE: China's $1 trillion in bad debt puts it at risk of a financial crisis (The Business Insider)

Puerto Rico Will Default on Government Development Bank Debt (Bloomberg)

Puerto Rico debt rescue plan engulfed in Great Recession ‘bailout’ politics (The Washington Post)

     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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