Wednesday, September 21, 2016

Wednesday roundup (09-21-2016)

OECD cuts world growth outlook amid weak advanced economies (Kyodo)

OECD: Negative rates threaten financial stability (Marketwatch)

UN fears third leg of the global financial crisis, with epic debt defaults by Ambrose Evans-Pritchard (The Telegraph)

WILL THE EUROPEAN UNION SURVIVE ANGELA MERKEL’S POLITICAL DEMISE?: Since 2010, Merkel has been the main force for keeping the European project together. (Newsweek)

Meet the riskiest bank in the world [= Deutsche Bank, according to the FDIC] (The Business Insider) Deutsche Bank Extends Losses as Analysts See Capital Threats [Sept. 19] (Bloomberg)

BOJ overhauls policy focus, sets target for government bond yields (Reuters)

Unlike the Fed, the BoC’s hands are tied by a paradox of household debt (The Globe and Mail of Toronto)

Federal Reserve holds interest rates steady [in the United States] (CBSMoneywatch) Larry Summers Begs Janet Yellen Not to Raise Interest Rates: In a tweet storm. (Fortune)

New Report Outlines Higher Education’s $2.7 Billion ‘Debt Bomb’ (Time)

Comptroller: NY student loan debt hits $82B (Blogs of The Times-Union of Albany, New York)

'Trump Is a Problem for the Whole World': With Europe falling ever-deeper into crisis, European Parliament President Martin Schulz is warning of the further advance of right-wing populism. In an interview, he also says he fears the possibility of a President Trump. (Spiegel Online)

     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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