Sunday, June 26, 2016

Sunday roundup (06-26-2016)

Shilling: World Facing High Probability of Panic Deflation (Financial Sense)

Nomura Warns "Do Not Underestimate The Global Contagion" From Brexit (ZeroHedge blog)

Tough Choices and Hard Lessons for E.U. After ‘Brexit’ Vote (The New York Times)

Six More Countries Want Referendums to Exit EU [= France, the Netherlands, Italy, Austria, Finland and Hungary] by Martin Armstrong (Armstrong Economics blog)

Rajoy Wins as Spain Cleaves to Establishment Amid Brexit Mayhem (Bloomberg) Spanish vote delivers more uncertainty for Europe after Brexit (Reuters)

Spain struggles to reduce unemployment, debt despite growth (Agence France Presse)

Tsipras blames Brexit on austerity, deficiencies in EU leadership (Reuters)

Petition to hold second EU referendum reaches 2.5m signatures: House of Commons website sees unprecedented traffic for record-breaking petition (The Observer)

The tea party spirit crossed the Atlantic during the Brexit campaign (The Washington Post)

U.S. business spending weak in May, Brexit seen adding more pressure (Reuters)

‘Trump Presidency Unthinkable’ Says Bush Bailout Architect Henry Paulson; Endorses Clinton (Breitbart) Republican ex-Treasury chief Paulson slams Trump, to vote for Clinton (Reuters) When it comes to Trump, a Republican Treasury secretary says: Choose country over party by Henry M. Paulson Jr. (The Washington Post)

June 2016: Unofficial Problem Bank list declines to 203 Institutions, Q2 2016 Transition Matrix (Calculated Risk blog)

Home Is Where the Fraud Is: At the height of the housing crisis, one woman’s bureaucratic odyssey to discover who really owns her home leads her to startling revelations about the housing market. (LongReads blog)

Obama Declares Major Disaster In West Virginia After Historic Flooding (National Public Radio)

     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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