Tuesday, September 20, 2016

Tuesday roundup (09-20-2016)

Six companies are about to merge into the biggest farm-business oligopoly in history [= mergers are pending of six companies into three: mergers of Bayer & Monsanto, of Dow Chemical & DuPont, and of China National Chemical Corp. & Syngenta] (Quartz)

German producer prices slip into deflation in August (EconoTimes)

Italy is a 'systemic risk' and could become investors' new obsession (The Business Insider) Inside Italy's circle of NPL [non-performing loan] hell (EuroMoney)

Austerity Only Benefits Germany and Destroys Europe, [Italian Prime Minister] Renzi Says (Bloomberg)

CATASTROPHIC Portuguese economy hits new low as toxic combination to BRING DOWN eurozone: PORTUGAL'S economy is coming closer to a catastrophic derailment which could trigger a eurozone meltdown, amid a toxic combination of rising bankruptcies, falling numbers of new businesses and high Government debt. (The Express)

[United States Senator] Elizabeth Warren Hammers Wells Fargo CEO: ‘You Should Be Criminally Investigated’: John Stumpf admitted no senior bank executives have been held accountable in the scam. (The Huffington Post) Senator Elizabeth Warren questions Wells Fargo CEO John Stumpf at Banking Committee Hearing (Youtube)

Spain’s Banco Popular to Cut Up to 3,000 Jobs, Close Branches (Bloomberg)

     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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