Wednesday, August 24, 2016

Wednesday roundup (08-24-2016)

French support for the EU project is crumbling on the Left and Right by Ambrose Evans-Pritchard (The Telegraph) It’s Time to Start Worrying About a Frexit (Fortune)

EU, Portugal reach deal to shore up nation’s largest bank: $3 billion injection hoped to help ease Portugal’s troubled banking sector [The Wall Street Journal via] (Marketwatch)

Why Portugal could be Europe’s next economic disaster: More woes for Europe this summer—Portugal at risk of downgrade (Marketwatch)

The hidden risk to the economy in corporate balance sheets [in the United States] (The Associated Press)

Top 25 Corporate Pension Plans Alone Are Underfunded By Over $225 Billion (ZeroHedge blog)

Illinois governor's office warns of crippling pension payment hike (Reuters)

     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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