Wednesday, July 6, 2016

Wednesday roundup (07-06-2016)

Italy May Spur Pan-Europe Bank Crisis, SocGen Chairman Says (Bloomberg) Italy's deepening banking crisis could RIP the eurozone apart, warn experts: ITALY'S banking crisis threatens to collapse the eurozone's financial system and bankrupt the entire bloc, experts have warned. (The Express)

Japan Needs Fiscal Stimulus to End Deflation, Abe Adviser Says (Bloomberg)

[In the United States,] The 1% are recovering from 2008 recession while 99% are still waiting: In 2015, the income of the 99% grew by just 3.9% – ‘the best real income growth in 17 years’ – while the rich saw growth was twice that at 7.7% (The Guardian)

Fed minutes suggest rate hikes on hold until Brexit impact clearer (Reuters) Minutes show more vocal doves at the Fed: A more vocal group of Fed officials is pushing the next rate hike further off, minutes showed (Marketwatch)

     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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