Wednesday, August 31, 2016

Wednesday roundup (08-31-2016)

Mark Carney urges policymakers to 'finish the job' of ending too-big-to-fail (The Telegraph) Dishonest bankers threaten new financial crisis says Bank of England Governor Mark Carney: ‘The incidence of financial sector misconduct has risen to a level that has the potential to create systemic risks by undermining trust in both financial institutions and markets,’ Mr Carney has told the G20 (The Independent)

Blame oil: Nigeria slumps into recession, Norway stalls (CNNMoney)

Eurozone core inflation fall raises prospect of ECB stimulus measures: Underlying inflation in single currency area was lower year on year in July, despite action taken by bank over past 18 months (The Guardian)

Now a FIFTH of youths in Eurozone are jobless and more than half of under-25s in Greece are without work (The Daily Mail)

Low rates taking a toll on euro zone banks: ECB's Nouy (Reuters)

Slowing German inflation puts pressure on ECB (Reuters)

Europe after Angela Merkel (American Enterprise Institute)

How our greedy banks are sacrificing savers: Interest rates slashed by MORE than Bank of England (The Daily Mail)

All four big Chinese banks report rising bad loans (Agence France Presse)

[United States] Jobs report seen as key to Fed rate decision (USAToday) Why the Fed probably won't like the jobs report Friday: August has disappointed the market nine of the last 12 years and is usually followed by substantial revisions. (CNBC)

[Illinois Gov.] Rauner loses $400 million vote on teacher pension fund issue (The Chicago Tribune) It's Time to Turn Out the Lights in Illinois by Martin Armstrong (Armstrong Economics blog)

     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.

No comments:

Post a Comment