Tuesday, August 9, 2016

Tuesday roundup (08-09-2016)

'Euro was flawed at birth and destined to COLLAPSE…Eurozone must DITCH it NOW to survive': THE eurozone was flawed at birth and is destined to collapse unless huge changes are made to its single currency, according to a Nobel-Prize winning economist [= Joseph Stiglitz, in new book]. (The Express)

EU waives budget deficit fines for Spain and Portugal (The BBC)

Bank of England easing bonanza may add pressure for more ECB action (CNBC)

U.S. productivity falls for third consecutive quarter (Reuters) Why Did Productivity Fall? Look To The Price of Oil and Gas: Falling energy prices have resulted in a dramatic decline in mining jobs in the U.S. (The Wall Street Journal blogs)

Several U.S. states unprepared for a recession: S&P (Reuters)

Wall Street bankers don't like Trump's policies and plans: Top bankers and campaign financiers were caught off guard by recent Trump statements. (CNBC)

SunPower to cut [about 1,200] jobs, posts quarterly loss (Reuters)

About 600 Optimum Cable jobs to be cut by November (News12)

     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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