Thursday, July 7, 2016

Thursday roundup (07-07-2016)

World faces deflation shock as China devalues at accelerating pace by Ambrose Evans-Pritchard (The Telegraph)

Governments Keep Their Fingers Crossed by Martin Armstrong (Armstrong Economics blog)

Hedge funds banned from shorting three Italian companies amid fears it could detonate country's £300bn bad-debt time bomb (This is Money)

Italy’s teetering banks will be Europe’s next crisis (The Economist) Italy: Europe's next domino to fall? (CNNMoney) A Look Inside Europe's Next Crisis: Why Everyone Is Finally Panicking About Italian Banks (ZeroHedge blog)

Populist Politicians Take On Italy’s Massive Debt Pile: Unpaid bills stoke frustration over the country’s old guard. (Bloomberg) Populist, Eurosceptic Five Star Movement Now Most Popular Party In Italy (Breitbart)

Greece Won’t Reach Budget Targets After 2018, Tsipras Says: Greek leader calls for the country’s creditors to renegotiate fiscal program (The Wall Street Journal)

Spain and Portugal risk penalties after violating EU deficit rules (Agence France Presse)

Bank of England to cut interest rates next week according to financial markets (CityAM)

Two-thirds of UK students ‘will never pay off debt’ (The Financial Times)

     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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