Wednesday, September 28, 2016

Wednesday roundup (09-28-2016)

IMF calls for action to defeat ‘deflation trap’ (The Australian Business Review)

Central banks loosen purse strings 200 times in less than two years (Reuters)

Germany's banks are a timebomb. And if they crash, it'll be 2008 all over again, writes ALEX BRUMMER (The Daily Mail) Germany is denying it's preparing to bailout Deutsche Bank (The Business Insider)

QE is here forever, says Bank of England deputy governor (The Telegraph)

Congress moves to avert [a United States] government shutdown after Flint deal struck (The Washington Post)

Congress rejects Obama veto, Saudi September 11 bill becomes law (Reuters) Saudia Arabia to Sell All US Assets as Congress Overrides Obama Veto by Martin Armstrong (Armstrong Economics blog)

Wisconsin Cities Face Billions Of Dollars In Underfunded Retiree Benefits: Milwaukee Journal Sentinel Investigation Finds $6.5 Billion In Unfunded Obligations To Retired Public Workers (Wisconsin Public Radio)

     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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