Tuesday, September 13, 2016

Tuesday roundup (09-13-2016)

Oil investment crashes to 60-year low, incubating next energy shock by Ambrose Evans-Pritchard (The Telegraph)

Italy to cut growth forecasts, economy minister says (Reuters)

Italy Is the Mother Of All Systemic Threats (Forbes)

[In the United States,] Wells Fargo exec who headed unit involved in scandal due $125 million in retirement (FoxNews) Wells Fargo fired 5,300 workers for improper sales push. The executive in charge is retiring with $125 million. (The Washington Post blogs)

U.S. credit card balances may soon top $1 trillion (CBSMoneywatch) Surge in Credit Card Debt Raises Red Flags for U.S. Economy: Americans have been charging up credit card debt at a pace not seen since the period leading up to the 2008 recession. And this is raising red flags. (TheStreet)

‘Superbug’ scourge spreads as U.S. fails to track rising human toll (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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