Thursday, June 16, 2016

Thursday roundup (06-16-2016)

Investors hold biggest cash pile since 2001 as world gloom deepens: BAML (Reuters)

Europe cannot escape from deflation (The Business Insider)

Russia may tap National Wealth Fund to cover budget deficit in 2017 (Reuters)

Brexit poses global financial risk, Bank of England warns (The BBC) ECB closes ranks with Bank of England to avert Brexit crunch by Ambrose Evans-Pritchard (The Telegraph)

China's debt is 250% of GDP and 'could be fatal', says government expert: Defaults in the hugely indebted corporate sector could derail state-owned banks, triggering a systemic crisis, economist says (The Guardian)

The jobs picture is getting even worse [in the United States], Philly Fed says (CNBC)

Armitage to back Clinton over Trump: Former Reagan and Bush appointee is highest-ranking Republican to break ranks for Hillary. (Politico)

Former Goldman banker Gensler is Clinton's progressive beacon [Bloomberg via] (The Chicago Tribune)

Clinton considering Warren, not Sanders, for running mate: WSJ (Reuters)

     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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