Italy's mayoral elections deal defeat to Renzi; 5-Star breakthrough (Reuters)
Five Star landslide in Rome, also takes Turin. Renzi on the skids. Another centre-Left party starts to pay exorbitant political price of EMU— A Evans-Pritchard (@AmbroseEP) June 19, 2016
DAVID ROSENBERG: Risks [to the United States economy] are rising (The Business Insider)
Why there’s a new kind of housing crisis: Nearly one-third of survey respondents said they’d had to scramble to cover a mortgage or rent payment in the past few years (Marketwatch)
Venezuelans Ransack Stores as Hunger Grips the Nation (The New York Times)
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.