Sunday, November 27, 2016

Sunday roundup (11-27-2016)

Italy Defies EU Imposed Austerity With Brussels-Baiting Budget (Agence France Presse)

Fears of multiple bank failures if Renzi loses referendum: Millions who face losses under EU ‘resolution’ system to decide prime minister’s fate (The Irish Times) Tens of thousands march in Rome to protest constitutional reforms put forward by embattled Italian premier Matteo Renzi (The Telegraph)

China's property frenzy and surging debt raises red flag for economy: Outstanding loans have risen sharply to 40% of GDP but analysts fear the end of the credit binge could trigger a crisis for the wider world (The Guardian)

[In the United States,] Wells Fargo seeks arbitration order in customer lawsuit (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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