Monday, July 11, 2016

Monday roundup (07-11-2016)

Black Hole of Negative Rates Is Dragging Down Yields Everywhere: As developed-world rates slide, investors widen search for income, driving down yields in corporate bonds and emerging markets (The Wall Street Journal)

The Euro on the Brink of Disaster by Martin Armstrong (Armstrong Economics blog)

Deutsche Bank chief economist calls for 150 billion euros in EU bank bailout-Welt (Reuters) 'Extremely sick' Europe needs huge £128billion bailout to avoid financial crash: EUROPE is “extremely sick” and needs a multi-billion pound bail-out to survive a fresh financial crisis, leading EU bankers have warned. (The Express)

Italy won't see pre-crisis growth until mid-2020s: IMF (CNBC) IMF Urges Action on Italy’s Retail Investors’ Bank Bail-In (Bloomberg)

Spain, Portugal May Duck Deficit Fine as EU Looks to Fudge Rules (Bloomberg)

Greece: Banks & Bailout Still At Risk, Moody’s Says (Barron's blogs)

HSBC escaped US money-laundering charges after UK intervention: Chancellor George Osborne and a British banking regulator warned of ‘global financial disaster’ if bank were prosecuted, House report says (The Guardian)

Can The Democratic Platform Really Change The Future of American Banking? (The Huffington Post)

Seagate Expands Job Cuts to 6,500 as PC-Component Market Suffers (Bloomberg)

RWE Plans to Cut 2,300 Jobs by 2020: German utility has already cut over 1,000 jobs since March last year amid power glut [July 7] (The Wall Street Journal)

Microsoft confirms Finnish site closure and job cuts [of 1,500] (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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