Thursday, June 9, 2016

Thursday roundup (06-09-2016)

Billionaire Investor George Soros Sees Economic Trouble Ahead (National Public Radio) George Soros, the billionaire 'who broke the Bank of England' opts for gold haven saying Brexit would spell end of EU (The Telegraph) George Soros bets on UK staying in Europe: The world-famous US investor believes that the strength of the sterling currency indicates the market’s belief that the UK will remain in the EU (The Independent)

Euro zone at risk of suffering lasting economic damage: Draghi (Reuters)

Stronger recovery hampered by lack of trust between euro zone countries (Reuters)

ECB Policies Could Backfire As Commerzbank Mulls Hoarding Cash (ValueWalk)

Brexit might trigger run on Britain's record financial debts, S&P warns (The Telegraph)

President Barack Obama endorses Hillary Clinton in video (CNN) Clinton finally gets the endorsement of ... Martin O'Malley (USAToday)

Sanders does not endorse Clinton but vows to stop Trump (The Associated Press) Bernie Sanders proved politicians can make it this far without selling their souls: No matter what happens next, his leadership has been essential in changing politics in the United States by Robert Reich (The Guardian)

Top 1% see incomes soar 188%. Everyone else ... not so much (CNNMoney)

House passes Puerto Rico fiscal rescue bill ahead of July cliff (The Washington Post) House passes bill to help ease Puerto Rico's debt (The Associated Press)

     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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