Thursday, September 15, 2016

Thursday roundup (09-15-2016)

Bank of England keeps rates unchanged paving path for Fed inaction next week (USAToday)

Spain's economy is on the edge of a cliff (The Business Insider)

Canada’s household debt is now bigger than its GDP, for the first time (The Financial Post) Almost a million Canadians couldn't handle a 1-point interest rate rise, TransUnion says: 1 in 6 Canadians would owe an extra $50 a month if rates rose by just a quarter percentage point (The Canadian Broadcasting Corporation) Why Canada’s borrowing binge will end badly (The Globe and Mail of Toronto)

U.S. retail sales, factory output slump; third-quarter growth forecast cut (Reuters)

Warren: Next Administration Should Probe, Maybe Jail Wall Street Bankers: In trying to reopen the investigation, she’s telegraphing her new Senate tactics—and sending a message to Hillary Clinton. (Bloomberg) Warren Pushes for Justice Dept. to Investigate, Possibly Jail, Those Responsible for ’08 Crash (Mediaite) Can Senator Warren Jumpstart Financial Crisis Prosecutions? by Barry Ritholtz (The Big Picture blog)

IRS cutting 1,800 jobs in Greater Cincinnati, moving operations (Cincinnati Business Courier)

     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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