Tuesday, November 29, 2016

Tuesday roundup (11-29-2016)

How Italy’s referendum could spark a ‘systemic crisis’ in the eurozone: Italian banking sector set for new crisis, analysts warn (Marketwatch) Will Italy provoke a systemic financial crisis afterDecember 4? (The Huffington Post)

The Italian referendum result could be the beginning of the end for the eurozone: Italy was going to be in trouble again sooner or later. It was merely a matter of time, and the timing was never going to be good. Europe’s leaders should have taken evasive action months ago [Editorial] (The Independent) Chance of Italy leaving euro zone hits four-year high: survey (Reuters)

Italy's banks might need a €52 billion bailout (The Business Insider)

Failure to conclude bailout review main risk for Greek economy - cenbanker (Reuters)

Britain's borrowing binge continues as credit card debt hits record high (The Telegraph) Brexit hasn't hit Britain's 'appetite for debt': Buyers return to market as mortgage approvals recover in October (This is Money)

India's 'economic miracle' is built on debt, dispossession and now, monetary destruction (Ecologist)

Debt, interest rates and financial repression by Carmen M. Reinhart (Nikkei Asian Review)

[United States President-elect Donald] Trump is meeting with an ex-bank CEO who wants to abolish the Federal Reserve and return to the gold standard (The Business Insider)

Surprise: Trump’s Advisor on Wall Street Regulations is a Longtime Swamp-Dweller: Trump’s transition advisor for financial regulations works for a firm that is emblematic of the Washington revolving door. (Pro Publica)

Airbus Group to cut net total of 934 jobs (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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