Friday, June 3, 2016

Friday roundup (06-03-2016)

ECB's Nowotny: Too early to say we have reached a turning point (CNBC)

EU insists budget rules apply to all, including France (Reuters)

Spain Must Get Deficit Efforts on Track, Central Bank Says (Bloomberg)

The [United States] economy just got its worst job report in years (Vox) US created 38,000 jobs in May vs. 162,000 expected (CNBC) Record 94,708,000 Americans Not in Labor Force; Participation Rate Drops in May (CNSNews) US hiring grinds to a near-halt; many stop looking for work (The Associated Press)

Conflicts of Interest? President Trump's Would Be Amazing (Bloomberg)

Brazil’s Exploding Debt-to-GDP Is Going to Become a Problem Soon (Bloomberg)

     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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