Wednesday, December 14, 2016

Wednesday roundup (12-14-2016)

Greece on collision course with lenders as ESM freezes debt relief: European financing body says it will not honour accord after Greek PM announced pre-Christmas bonus for pensioners (The Guardian) Greek Short-Term Debt Relief in Jeopardy as Bailout Stalls (Bloomberg) Germany gives Greece veiled warning over bailout (Marketwatch)

[In the United States,] Fed lifts rates, sees faster pace of hikes in Trump's first year (Reuters)

Reversing Course, E.P.A. Says Fracking Can Contaminate Drinking Water (The New York Times)

Protests erupt in Brazil over controversial 20-year austerity plan (CNN)

Volvo Trucks announces 500 layoffs at Dublin[, Virginia] plant (The Roanoke Times)

     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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