Thursday, January 5, 2017

Thursday roundup (01-05-2017)

“What Is Clear Is That Greece Cannot Pay Its Debt And Will Never Pay It” [-- Fernando Eguidazu, Secretary of State for the European Union] (The Corner) Greece Heads Into Another Economic Crisis: Time To Finally Exit The European Union? (Forbes)

Trudeau will bury us [= Canadians] in debt (The Toronto Sun)

[In The United States,] We’re Just As Vulnerable To A Dust Bowl Drought As We Were In The 1930s (Modern Farmer)

Sears and Kmart closing 150 stores (CNNMoney) Dismal holiday sales at Macy's and Kohl's cast gloom over sector (Reuters)

MD Anderson cutting staff by 1,000 workers via layoff, retirement; no doctors affected (The Houston Chronicle)

     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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