Wednesday, June 22, 2016

Wednesday roundup (06-22-2016)


Italy's 5-star wants vote on euro, joining wave of referendums (Reuters)

George Osborne's shame as Britain's debt tops £1.6TRILLION amid borrowing spiral: THE Chancellor has been left red-faced after Britain's debt surged to £1.606 TRILLION last month, as the Government continues to borrow billions more than expected, figures revealed today [June 21]. (The Express)

IMF downgrades outlook for US economy (CNBC)

Debt talks between Puerto Rico, creditors end without deal (Reuters)

'We're living worse than in a war': Venezuela's deepening economic crisis: Critics have slammed president for embracing socialist blueprint instead of free-market policies (The Canadian Broadcasting Corporation)

Subsea 7 to Cut 1,200 Jobs By Early 2017 (Rigzone)

     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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