Wednesday, August 3, 2016

Wednesday roundup (08-03-2016)

Quote of the Day: "The EU is making the same mistakes over and over and over again. They’re not demanding that the banks be recapitalized as they should be, and allowing things to get worse by enabling lenders to keep zombie loans they should have dumped years ago." -- Viral Acharya, a professor at NYU’s Stern School of Business (Fortune)

Euro zone business growth picks up slightly but still muted (Reuters)

UniCredit capital drop adds to Italy's bank troubles (Reuters)

BoE set to cut rates as survey flags sharpest UK downturn since 2009 (Reuters) Interest rate cut is a 'foregone conclusion' say experts as the UK faces a 'mild recession' after key economic sectors slowed sharply (This is Money) Bank of England expected to launch post-Brexit stimulus package: U.K. economic research estimates 50-50 chance of recession within next 18 months (The Associated Press)

IMF urges Japan to coordinate fiscal stimulus with further BOJ easing (Reuters)

[In the United States, Boston's] MBTA Considering Layoffs To Help Close Huge Budget Deficit [of $100 Million] (CBSBoston)

These toxins in our food almost certainly shouldn't be there: Sometimes our food lies to us. Is it really safe to eat? Is it even what’s listed on the packet? A lab in Belfast is one of best places in the world to find out. (The BBC)

     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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