Monday, September 5, 2016

Monday roundup (09-05-2016)

Quote of the Day:

"Structural reforms are vital at this point to prevent a real economic depression on a global scale." -- Economic forecaster Martin Armstrong (Armstrong Economics blog)

ECB on 1 trillion euros and counting with government debt buys (Reuters)

Eurozone Economy 'Losing Momentum' as Germany Falters (The Associated Press)

Fears for Germany's economy as service sector drops to lowest level in THREE YEARS: GERMANY'S economy has flashed further warning signs of disaster, after its service sector plunged to its lowest level in more than three years last month. (The Express)

Greece faces standoff over bailout funds after Athens fails to impose reforms: Eurozone ministers may refuse to release further funds as only two out of 15 changes that were condition of rescue package have been implemented (The Guardian)

Greek banks must cut bad debt faster to aid economy (Reuters)

Expect weakened growth in Spain as political deadlock drags on: Moody’s (CNBC)

     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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