Tuesday, May 24, 2016

Tuesday roundup (05-24-2016)

Euro zone agrees debt deal with Greece, IMF - France's Sapin (Reuters)

Austria’s move to the right is worrying bankers (CNBC)

Credit Cards Reanimated [in the United States] (The Mess That Greenspan Made blog)

Brazil's new president Temer unveils austerity measures: Brazil's interim president Michel Temer has unveiled a raft of economic austerity measures. Just a few days into his 180-day tenure, the 75-year old has confounded expectations he would spend Brazil out of its slump. (Deutsche Welle) Brazil's Temer seeks constitutional change to curb public spending (Reuters)

     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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