Thursday, November 3, 2016

Thursday roundup (11-03-2016)

Forget America's Presidential Circus, A Crisis Is Brewing In Europe (Forbes)

‘Brexit’ Will Require a Vote in Parliament, U.K. Court Rules (The New York Times)

Bank of England drops planned UK interest rate cut (euronews)

Whoever becomes U.S. president will need to stop digging deeper into debt (The Globe and Mail of Toronto)

Fed will have little room to cut interest rates if recession hits: The US central bank should look at options including negative rates and higher inflation targets to stimulate the economy by Kenneth Rogoff (The Guardian)

CVS Health to cut 600 jobs: Cuts will come from corporate offices in Rhode Island, Illinois and Arizona over the next two months [The Wall Street Journal via] (Marketwatch)

     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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