Wednesday, May 11, 2016

Wednesday roundup (05-11-2016)

These are the triggers for a new financial crisis: With existing political elites seen as captured by businesses, banks and the wealthy, electorates are turning to political extremes in search of representation and solutions. The resulting policy uncertainty and inconsistency further suppresses recovery by Satyajit Das (The Independent)

Why Greece Still Needs Debt Relief: The new package pushes the country to the breaking point. (Fortune)

Greek deflation persists for another month (ekathimerini)

Italy must choose between the euro and its own economic survival by Ambrose Evans-Pritchard (The Telegraph)

UK industry falls back into recession: Factory output was down in two consecutive quarters as the steel crisis helped drag down the sector’s overall output (The Guardian)

The World's Most Extreme Speculative Mania Unravels in China (Bloomberg)

America's middle class is shrinking almost everywhere (CNNMoney)

Trump Is Now Running to the Left of Sanders on Federal Debt (Bloomberg) How Donald Trump is running to the left of Hillary Clinton (The Washington Post)

Macy's is in serious trouble (CNNMoney)

State Job Cuts To Be More Than 2,500 (CBSConnecticut)

     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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