Monday, December 19, 2016

Monday roundup (12-19-2016)

Volkswagen costs for emissions scandal set to rise by another $1 billion: WSJ (CNBC)

Italian government to request bank bailout funds from parliament: Prime minister convenes cabinet meeting as Monte dei Paschi makes last-ditch effort to raise €5bn from private investors (The Guardian)

Moody's voices concern at 'material delay' in Greece debt relief talks: Rating agency claims lag in talks between Athens and its creditors increases risk that Greece will miss repayments next year (The Guardian)

Ukraine's largest bank rescued by state, Poroshenko urges depositors to stay calm (Reuters)

[In the United States,] Interest payments could become one of the federal govt's biggest line items (CNBC)

Pompano Beach call center to lay off more than 800 employees (The Sun Sentinel of Fort Lauderdale, Florida)

     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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