Friday, October 21, 2016

Friday roundup (10-21-2016)

Greek PM sees perpetual bailouts if creditors fail to ease debt (Reuters) Sovereign Debt Crisis is Percolating -- Greece Asks for Debt Relief by Martin Armstrong (Armstrong Economics blog)

Portugal preparing "systemic measure" for banks' bad loans - PM [Reuters via] (The Daily Mail)

Government borrowing [in the UK] rises to £10.6bn in September (The BBC)

[Canada's] Bombardier to cut 7,500 more jobs through 2018, mostly in rail (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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