Tuesday, December 20, 2016

Tuesday roundup (12-20-2016)

Deutsche Bank's failure could shake the European banking system, analyst warns (CNBC)

Saving Italy’s Banks Means Missing Public Debt Target Again (Bloomberg) Eurozone COLLAPSE fears as Italy demands £17BILLION bailout to prop up its 'doomed' bank: ITALY is preparing to pump billions of pounds into its crisis-hit banks amid rising fears of a financial crisis that could destroy the eurozone. (The Express)

U.S. proposed $5 billion - 7 billion penalty on Credit Suisse on toxic debt - source (Reuters)

The Student Debt Crisis Is Driving Elderly People Into Poverty: This isn’t how it’s supposed to work. (The Huffington Post)

Volkswagen [Group of America] to recall 83,000 vehicles to settle allegations of cheating emissions tests (CNBC)

GM cutting 1,300 jobs at only plant inside Detroit (CNNMoney) GM idling five car assembly plants up to three weeks (The Associated Press)

     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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