Monday, January 16, 2017

Monday roundup (01-16-2017)

World’s 8 Richest Have as Much Wealth as Bottom Half of Global Population [the eight are: Bill Gates, Amancio Ortega Gaona, Warren Buffett, Carlos Slim, Jeff Bezos, Mark Zuckerberg, Larry Ellison, and Mike Bloomberg] (The New York Times)

Italy in talks with EU over budget deficit: sources (Agence France Presse)

Bank of England ‘keeping close eye on UK consumer spending’: Mark Carney says consumers are powering economy through Brexit uncertainty but debt is increasing (The Guardian)

[United States President-elect Donald] Trump's Cabinet pick invested in company, then introduced a bill to help it (CNN)

Bank Failures by Year (Calculated Risk blog)

Bankrupt U.S. retailer American Apparel starts layoffs [about 2,400 workers in Southern California] (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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