Wednesday, May 4, 2016

Wednesday roundup (05-04-16)

Europe to Remove 500-Euro Bill, the ‘Bin Laden’ Bank Note Criminals Love (The New York Times)

[France's] SocGen: Banking industry will never see pre-crisis profitabilty again (CNBC)

Greece Rules out "What If" Austerity Measures Sought by IMF (The Associated Press)

Is Greece just weeks away from another debt crisis? (The Telegraph)

Most of Greek bailout money went to banks: study: Only 5 percent of international bailout money for Greece was used to kickstart the country's languid economy, a new study has found. The rest was used to pay back private creditors, many of which were banks. (Deutsche Welle)

Our household debt will be the death of us (The Daily Telegraph of Australia)

Private-sector job growth [in the United States] stumbles to slowest pace in three years, ADP says (The Los Angeles Times)

Trump, lone survivor in Republican White House race, now must unify party (Reuters) Why Republican Voters Decided On Trump (FiveThirtyEight) Ted Cruz Suspends Campaign After Indiana Primary Loss (ABCNews) John Kasich Suspends Presidential Campaign (NBCNews)

Presumptive GOP Nominee Trump Goes One-on-One With Lester Holt: Donald Trump speaks to Lester Holt after a resounding win in the Indiana primary and the departures of his last remaining rivals for the GOP nomination. (NBC Nightly News with Lester Holt)

Elizabeth Warren Rips Into Trump After His Indiana Victory (ABCNews)

Could Bernie Sanders Win the Nomination After His Surprise Indiana Victory? (People) It's mathematically impossible for Bernie to win with pledged delegates (Politico) A Contested Convention Is Exactly What the Democratic Party Needs: Bernie Sanders will go to Philadelphia with more pledged delegates than any insurgent in modern history. Here’s what he could do with them. (The Nation)

U.S. oil industry bankruptcy wave nears size of telecom bust (Reuters)

MetLife hit with $25 million penalty for misleading retirement clients (USAToday)

     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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