Sunday, March 5, 2017

Sunday roundup (03-05-2017)

Global debt is spiralling out of control: Reducing debt through debt forgiveness, defaults or inflation is not without consequences. Savings designed to finance future needs, such as retirement, are lost. This in turn results in additional claims on the state to cover the shortfall or reduce future expenditure, which crimps economic activity by Satyajit Das (The Independent)

How Anti-Democratic Propaganda Is Taking Over the World: Autocrats from Beijing to Moscow are spreading their toxic ideology in more parts of the globe than ever before. And they're much more sophisticated than you think. (Politico)

Greece desperate for growth strategy as public mood darkens: With debt repayments of €7bn due in July and default looming, Greek government hunts rescue funds to boost employment (The Guardian)

Great Lakes mayors [in the United States and Canada] warn against cuts to ecological recovery initiative (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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