Monday, October 31, 2016

Monday roundup (10-31-2016)

A perfect storm for the global economy (The American Enterprise Institute)

Euro zone growth still slow, October core inflation dips (Reuters)

European Banks Stuck With $1.3 Trillion of Bad Loans, KPMG Says (Bloomberg)

José Manuel Barroso cleared of ethics breach over Goldman Sachs job: Panel questions judgment of ex-European commission chief but says grounds were not sufficient to conclude he broke code (The Guardian)

Russia could miss some economic targets: Former finance minister said cutting budget deficit will be a tall order. (United Press International) Russia's FINANCIAL CRISIS: Moscow launches desperate austerity programme: RUSSIA has revealed a dramatic austerity programme in a desperate bid to shore up the economy and quell public anger, amid the country's worst financial disaster in years. (The Express)

     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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