Friday, March 3, 2017

Friday roundup (03-03-2017)

E.U. Lawmakers Call for End to Visa-Free Travel for Americans (The New York Times)

REVEALED: These six nations could be about to QUIT the Eurozone - and here's why: THE Brexit vote kick-started a wave of Euroscepticism last June and six other countries in particular [=Greece, Italy, Spain, Portugal, Ireland, and Cyprus] may be next to quit the block. [This list adds Cyprus, which was missing from The Express's earlier report, as posted here Tuesday (Economic Signs of the Times blog).] (The Express)

Greece begs World Bank for loan as it risks defaulting plunging eurozone into crisis: GREECE has requested a loan form the World Bank as it attempts to thrash out the details of its £73billion eurozone bailout. (The Express)

[In the United States,] Cache Valley Bank, Logan, Utah, Assumes All of the Deposits of Proficio Bank, Cottonwood Heights, Utah (The Federal Deposit Insurance Corporation) Proficio Bank of Cottonwood Heights UT had a troubled assets ratio of 66.1 percent. (BankTracker)

     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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