Monday, June 20, 2016

Monday roundup (06-20-2016)

Why Italy’s economy is about to collapse: A contracted economy, inadequate banking systems, engorged public sector and festering corruption mean that Italy is facing a troubled future by Satyajit Das (The Independent)

Italy’s Five Star Movement has taken Rome, and Turin too: Mayoral wins for populist women spell trouble for the prime minister, Matteo Renzi (The Economist) Italy's Renzi faces fight for political life after vote setback (Reuters)

Average UK credit card and loan debt stands at 25% of income as we mark the 50th anniversary of the plastic payment card: There’s an anniversary this year that has probably passed most people by, which is ironic when you consider the impact it has had on almost all of our lives, writes Sheena Grant. (East Anglian Daily Times)

India's rockstar central banker defeated as Modi revolution stalls by Ambrose Evans-Pritchard (The Telegraph)

[In the United States,] Trump's Foes [Notably Elizabeth Warren] Try to Provoke Him With His Own Words: Pathetic! Sad! Disgusting! (US News & World Report) Wall Street donors seek to block Warren VP pick: If Clinton chooses the Massachusetts senator as her running mate, donations will dry up, fundraisers warn. (Politico)

     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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