Monday, September 26, 2016

Monday roundup (09-26-2016)

Global debt climbs towards fresh high as companies and countries keep on borrowing (The Telegraph)

Economic imbalances risk 'destabilising' euro zone: ECB's Draghi (Reuters) ECB's Mario Draghi savaged by MEPs over negative interest rates and 'debt economy': CHIEF of the European Central Bank (ECB) Mario Draghi received a savage dressing down from MEPs over monetary policies today, as tensions over the bloc's flagging economy grow between policymakers. (The Express) Mario Draghi and ECB go to WAR with Germany over how to save crumbling Eurozone: THE European Central Bank (ECB) chief has again clashed with Germany over how to save the ailing eurozone economy. (The Express)

The Deutsche Bank crisis could take Angela Merkel down – and the Euro (The Telegraph) Deutsche Bank shares hit record low on report Merkel won't help the troubled lender (CNBC)

Saudis shore up banks as slow financial crunch worsens by Ambrose Evans-Pritchard (The Telegraph) Saudi Arabia’s Monarch Scraps Bonuses, Cuts Minister Salaries (Bloomberg)

Rogoff: China is the biggest threat to the global economy right now (CNBC)

Sheila Bair Called the Financial Crisis. Here’s Her New Nightmare: The former FDIC chief went up against Wall Street in 2006. To her, the nation’s $1.4 trillion student debt is the disaster around the corner. (Bloomberg)

Commerzbank to cut 9,000 jobs in restructuring -Handelsblatt (Reuters)

Hundreds laid off at Chicago-based Motorola Mobility (The Chicago Tribune)

     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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