Saturday, November 19, 2016

Saturday roundup (11-19-2016)

Archbishop of Canterbury claims 'corruption and bureaucracy' in the EU have impoverished member countries with Greece being the 'clearest example' (The Daily Mail)

Bruegel Institute Chief: 4th Bailout Seems Inevitable for Greece (Greek Reporter)

[United States] Bank regulator imposes tighter restrictions on Wells Fargo: A federal banking regulator has imposed tighter restrictions on Wells Fargo & Co., requiring the banking giant to get advance approval from regulators before making a wide range of business decisions (The Associated Press)

     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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