Sunday, December 4, 2016

Sunday roundup (12-04-2016)

Renzi concedes defeat in Italian referendum and resigns as PM; the Eurozone is heading for a fresh crisis (The Spectator blogs) Renzi Quits; Italian Populists Seek Quick Vote to Win Power (The Associated Press) Trying to imitate Trump’s victory, Italy’s Beppe Grillo could help throw Europe into crisis (The Washington Post)

Italy’s prime minister is resigning. That could have big implications for Italy’s financial system. (Vox) Renzi Loses Key Referendum, Fears Grow for Italian Banks (The Voice of America)

Amazingly, Yes, Still The Greek Debt Problem - Germany Says No Relief, IMF Insists Upon It (Forbes) Greece must reform or leave eurozone, says German minister: Wolfgang Schäuble rules out debt relief for Greece before meeting of eurozone’s finance ministers (The Guardian) Euro zone seeks compromise on Greek debt ahead of IMF deadline (Reuters)

Far-right camp concedes defeat in Austrian presidential election [Reuters via] (CNBC)

The Shocking Truth About How Barack Obama Was Able To Prop Up The U.S. Economy [The Economics Collapse blog via] (Right Side News)

Pence's power play: The VP-elect holds sway over Cabinet, soothes conservatives. (Politico)

With Dallas Police And Fire Pension Fund In Trouble, City Explores Solutions (KERA) Run on Dallas Pension Fund — Mayor Asks To Suspend Withdrawals by Martin Armstrong (Armstrong Economics blog)

     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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