Thursday, October 20, 2016

Thursday roundup (10-20-2016)

German Finance Minister Schäuble: Greece Needs Economic Overhauls: Easing of debt burden would reduce willingness to reform the country (The Wall Street Journal)

Portugal scraps more austerity but vows budget deficit cut (The Associated Press)

Within a Generation, Our National Debt [in the United States] Will Cost the Typical Family $12,000 (The Daily Signal)

California attorney general investigating Wells Fargo on allegations of criminal identity theft (The Los Angeles Times)

Ford's Kansas City Assembly Plant hit with [about 13,000] layoffs (Kansas City Business Journal)

Rail freight business DB Cargo to cut 900 UK jobs as coal and steel demand plunge (The Telegraph)

     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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