Nomura global port survey today suggest absolutely no evidence of trade pick-up. US & Asia awful. Hong Kong dead pic.twitter.com/r5qSOhEibc— A Evans-Pritchard (@AmbroseEP) May 17, 2016
Paris and Rome fiddle while France and Italy burn: Debt Dominoes: France and Italy are moving too slowly on political and economic reform by Satyajit Das (Marketwatch)
Post Office [in the UK] 'heading for extinction' amid plan to cut 600 jobs, say unions: CWU and Unite accuse government of putting service in crisis after funding slashed by £130m in three years to £80m (The Guardian)
Sucked into deflation again - Japan's $2 cup noodle binge is sign of the times (Reuters)
BlackRock’s Fink Says Everyone Should Worry About China Debt (Bloomberg)
The Confession of [United States] Congressman X by Martin Armstrong (Armstrong Economics) ‘We’re running a f—ing casino’: Politician tells all in manifesto [May 13] (The New York Post) 'Screw the next generation' and 'Harry Reid's a pompous a**': Democratic congressman writes Anonymous tell-all book slamming 'nation of naive, self-absorbed sheep' as he admits he never reads bills he votes on (The Daily Mail)
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.