Thursday, September 8, 2016

Thursday roundup (09-08-2016)

ECB surprises by failing to extend QE deadline; cuts euro zone growth forecasts (CNBC) ECB's Mario Draghi has run out of magic as deflation closes in by Ambrose Evans-Pritchard (The Telegraph)

EU's ZOMBIE banks: ECB is destroying Europe's finance hubs, warns leading investment bank: EUROPEAN banks are slipping into a terrifying zombie state of decline thanks to the European Central Bank (ECB), a leading investment bank has warned. (The Express)

[Italy's] Monte dei Paschi CEO to be replaced as cash call looms (Reuters)

BOJ's Nakaso says won't rule out deepening negative rates (Reuters)

Why So Few Economists Are Prepared to Say Recession Risks Are Fading [in the United States]: Historically, recessions have disproportionately struck near elections (The Wall Street Journal blogs)

Food deflation woes hit Kroger in new 'grocery price war' (CNBC) U.S. Food Prices See Longest Stretch of Deflation in 50 Years: Farmers and grocery store operators feel the pain (ElliotWave)

5,300 Wells Fargo employees fired over 2 million phony accounts (CNNMoney) [In addition,] Wells Fargo to pay $185 million settlement for 'outrageous' sales culture (The Los Angeles Times)

Dell Technologies to Cut at Least 2,000 Jobs After EMC Deal (Bloomberg)

Can Illinois go Bankrupt or just Default? 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