Friday, February 17, 2017

Friday roundup (02-17-2017)

Greece will run out of money in July and its creditors can't agree on what to do (The Business Insider) Banker warns this Greek crisis is even MORE uncertain than previous deadlocks: A SENIOR banker at a one of Britain's largest assets management firms has warned that the looming Greek crisis could be even more uncertain than previous episodes of the nation's battle with its debts. (The Express)

Why Italy’s shaky economy should worry us all (The American Enterprise Institute)

One in four UK retirees burdened by unpaid mortgage or other debts: Numbers retiring in debt in 2017 is highest for seven years with nearly 40% still owing payments for debts such as interest-only mortgages (The Guardian) Workers taking debts into retirement now commonplace thanks to big mortgages and easy credit (This is Money)

[In the United States,] State Dept. carries out layoffs under Rex Tillerson (CBSNews)

A small city in Iowa is devoting 1,000 acres of land to America's vanishing bees: Little habitats on the prairie to save our nation's pollinators (Popular Science)

     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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