Friday, June 24, 2016

Friday roundup (06-24-2016)

"It's An Alice In Wonderland World" - GRI Warns "Debt Is Being Piled Upon Debt Being Piled Upon Debt" (ZeroHedge blog)

UK PM Cameron says will step down by October after Brexit vote (Reuters) British Prime Minister David Cameron's resignation to set off leadership scramble (The Associated Press) David Cameron’s Austerity Bomb Finally Went Off: After years of failed economic policy, the British public was ready to lash out. (Foreign Policy)

Multinationals warn of job cuts and lower profits after Brexit vote: JP Morgan, Airbus and Ford say they will review UK operations as analysts warn of serious implications for City workforce (The Guardian) Banking giants consider moving thousands of jobs out of Britain after Brexit vote as big businesses warn of a profits slump (The Daily Mail)

Brexit won’t shield Britain from the horror of a disintegrating EU: Bringing democrats together across borders is needed now to prevent a slide into a xenophobic, 1930s-like abyss by Yanis Varoufakis (The Guardian)

Elizabeth Warren Should Stay in the [United States] Senate: Her agenda is fundamentally different from the one Hillary Clinton will pursue. by Dean Baker (The Nation)

Memphis Man Raises $103K for Teen Who Offered to Help Carry Groceries (ABCNews)

     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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