Monday, June 6, 2016

Monday roundup (06-06-2016)

Europe’s Next Financial Crisis [-- "Italy will be the nexus"] (The Huffington Post)

Spain's anti-austerity parties pass Socialists [in opinion polls] ahead of election (Reuters)

China's Debt Load Is (Much) Higher Than Previously Thought, Goldman Says: New credit creation points to an "uncomfortable" trend. (Bloomberg)

Fed's Yellen sees rate hikes ahead, but few hints on when (Reuters)

Bill Moyers in Conversation: How Our Winner-Take-All Political System Has Divided America: Bill revisits a conversation with political scientists Jacob Hacker and Paul Pierson that explains how Washington and big business colluded to make the rich richer and abandoned the rest of us. (Moyers & Company)

John Oliver just gave away $15 million and ripped a shady part of the U.S. economy to shreds (BGR) John Oliver Buys And Forgives $15 Million In Medical Debt: But Is The Forgiveness Taxable? (Forbes) Liberal Group: John Oliver’s Debt Forgiveness Stunt Was A Big Fraud (The Daily Caller) John Oliver accused of copying debt-forgiveness stunt: Activist group claims it 'provided source material and original concept' (Entertainment) Rolling Jubilee [One project of Debt Collective’s operators] (Rolling Jubilee)

800 jobs cut from two local Freightliner plants (The Charlotte Business Journal)

     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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