Friday, October 14, 2016

Friday roundup (10-14-2016)

France must respect 3 pct of GDP deficit ceiling-Dombrovskis (Reuters)

Italy Debt Tops 150% of GDP Without Underground, Illegal Economy (Bloomberg)

Interfering EU chiefs tell Spain 'lower your debt or face the consequences': EUROCRATS have told Spanish officials their "bill" will quickly grow if they do not get their deficit in order, just months after threatening to deprive the country of cash through fines and funding freezes. (The Express) 'Economic bubble'? Spain nears 300 days without a govt (The Associated Press)

Portugal Cuts Economic Growth Forecasts, Sees Higher Debt Ratio (Bloomberg)

Resolving Europe’s Banking Crisis in Italy (Project Syndicate)

Goldman Sachs, JPMorgan, Morgan Stanley mull London exodus [Oct. 10] (CNBC) Nonperforming Loans in European Banks 10x that of U.S. Banks by Martin Armstrong (Armstrong Economics blog)

New Global Study Says US Runs a Big Risk as Long-Term Debt Skyrockets (The Fiscal Times)

FBI, DOJ roiled by Comey, Lynch decision to let Clinton slide by on emails, says insider (FoxNews)

Trump on sex assault allegations: 'I am a victim' (CNN)

[Brazil's] Petrobras Lowers Fuel Prices to Stunt Import Competition (Bloomberg)

Deutsche Bank considers thousands more job cuts - source [= 10,000] (Reuters)

Fujitsu to cut 400-500 jobs in Germany: Nikkei (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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