Friday, August 12, 2016

Friday roundup (08-12-2016)

Eurozone Second-Quarter GDP Growth Halves, as Expected, to 0.3%: Better-than-forecast German data was offset by a surprise stagnation in Italy, leaving the overall figures unchanged from a July 29 estimate. (The Street)

To escape a global debt trap [exacerbated by the repeal of Glass-Stegall via Sarbanes Oxley], the UK must reach out to the world (The Telegraph)

Construction is in recession as UK economy weakens (The Telegraph)

Italy: stuck in low growth; rising debt (The Financial Times) Italy's National Debt Hits Record High, Reaches Some $2.5 Trillion (Sputnik) Slowing growth lays bare Italy PM Renzi's challenges (Reuters)

IMF tells China: Fix your debt problem now (CNNMoney) IMF says China's credit growth is unsustainable (Reuters) China economic growth may slow to 5.9 per cent in 2020: IMF report: Rising corporate debt a sizable drag on China’s economy (The Associated Press)

An Unsolvable Math Problem: Public Pensions [in the United States] Are Underfunded By As Much As $8 Trillion (ZeroHedge)

     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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