Sunday, July 24, 2016

Sunday roundup (07-24-2016)

Cash-Strapped Governments Enjoy a Windfall in Low Borrowing Costs: Plummeting bond yields are enabling some cash-strapped governments to reduce their deficits and potentially ease austerity measures (The Wall Street Journal)

Visco Says Italian Bad Loans No Systemic Risk as Amount Overdone (Bloomberg) Italy insists there's 'no banking problem' as stress tests loom large (CNBC)

Portuguese banks face potential big losses (The Financial Times)

Australia on sale: Retail price war raises specter of deflation [Reuters via] (CNBC)

500 jobs to go in $1 billion Woolworths restructure [in Australia] (The Business Insider)

     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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