Thursday, July 28, 2016

Thursday roundup (07-28-2016)

How the pieces are falling into place for another global financial crisis: Efforts to fix banks’ debt woes suffer bad breaks by Satyajit Das [July 25] (Marketwatch)

Helicopter Money: Why Some Economists Are Talking About Dropping Money From the Sky (The New York Times) Are Central Banks Crazy Enough to Think Helicopter Money is the Answer? (Equities) 'Helicopter money' might weaken currencies more than QE as sky's the limit (Reuters)

IMF Failed to Push for Crucial Debt Relief in 2010 Greek Bailout, Auditor Says [Reuters via] (The Voice of America) Embarrassment for Christine Lagarde and IMF as Fund's own watchdog slams its eurozone record: The IMFs handling of the single currency emergency has been the cause of major internal discontent at the Fund and this verdict will be seen as a vindication of those criticisms (The Independent) IMF admits disastrous love affair with the euro, apologises for the immolation of Greece by Ambrose Evans-Pritchard (The Telegraph)

Portuguese Banks May be Brewing a Perfect Storm: The European country’s largest lenders face a slew of problems (The Wall Street Journal)

Japan still stuck in deflation in June (The Financial Times)

Lloyds to cut 3,000 jobs, close more branches after Brexit shock (Reuters)

Microsoft to cut 2,850 more jobs (Reuters)

World's Most Popular [Class of] Pesticide[s] Cuts Bee Sperm 39 Percent, Study Says [= neonicotinoids] (NBCNews)

     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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