Friday, December 16, 2016

Friday roundup (12-16-2016)

Italy could DESTROY eurozone: Rome to inject 15 BILLION euros into banks to SAVE them: ITALY is set to inject billions of pounds worth of cash into its failing banks in a desperate attempt to halt a looming financial meltdown, according to reports. (The Express)

Monte dei Paschi sees costs of rescue deal at 558 million euros: document (Reuters) Monte dei Paschi bailout would entail 4.1 bln euro forced debt swap-source (Reuters)

Americans haven't had this much credit card debt since the eve of the financial crisis (The Business Insider)

LAUSD [Los Angeles Unified School District] notifies county and state of $1.46 billion deficit (LASchoolReport)

Protests, looting break out in Venezuela amid cash chaos (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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