Monday, September 12, 2016

Monday roundup (09-12-2016)

ECB Proposals Aim to Clear Europe’s Bad Debt Mountain: $1 trillion of bad debt weighing on bank stocks and hindering economic recovery (The Wall Street Journal)

EU to investigate Barroso over Goldman Sachs job: EU officials have said they will ask the former European Commission head to give details of his contract with the firm. Barroso caused outrage by joining the bank, which some say helped cause Europe's financial crisis. (Deutsche Welle)

Bailout inspectors back in Greece as reforms delayed (The Associated Press)

Portugal: We'll do all we can to avoid a second bailout (CNBC)

EU soft touch on Portugal deficit risks credibility: Finnish FinMin (Reuters)

[In the United States, President] Obama, Hill leaders meet ahead of federal funding deadline [in bid to avoid a government shutdown] (The Associated Press)

Slow growth forecast weighs on Fed rate hike decision (CNBC)

[Dutch bank] ABN Amro: to cut up to 1,375 jobs as part of cost-saving measures (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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