Friday, July 29, 2016

Friday roundup (07-29-2016)

Eurozone likely to get more stimulus as growth halves: It seems that the first quarter was another false dawn for the eurozone economy and that the European Central Bank will have more to do in the months ahead to shore up the recovery (The Associated Press)

Stress Tests Find Some Big European Banks Wanting (The New York Times blogs)  'European banking sector is challenged,' Barclays CEO warns (CNBC)

French second quarter growth unexpectedly grinds to a halt on weak consumer spending (Reuters)

ECB approves rescue plan for Italian bank Monte dei Paschi: sources (Reuters) World's oldest bank [= Monte dei Paschi] fares worst in EU stress test (CNBC)

Italy's deflation rate slows to -0.1%: Negative inflation stood at -0.4% in June (ANSA)

How slow is US economic growth? 'Close to zero' (CNBC)

Homeownership in the US has never been lower (The Business Insider)

Analyst: Overcapacity, deflation ["nearly unprecedented ... in recent industry history"] creating 'awful' conditions (SupermarketNews)

America’s Exploding Deficit by Martin Feldstein (Project Syndicate)

     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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