Tuesday, April 4, 2017

Tuesday roundup (04-04-2017)

Global debt explodes at 'eye-watering' pace to hit £170 trillion (The Telegraph) How the global debt pile rose to ‘eye-watering’ levels: Much of the precipitous rise over the past decade has come from emerging markets (Marketwatch)

Thousands of Greek pensioners protest against cuts as more austerity looms (Reuters)

Risky lending will endanger banks if credit bubble bursts, Bank of England warns (The Telegraph)

[In the United States:] Has Trump hit rock bottom yet? [Right Turn conservative blog on latest poll results] (The Washington Post blogs)

Now Republicans want to undo the regulations that helped consumers and stabilized banking (Vox)

Fed's Tarullo: Reduction of capital at US banks 'would be ill-advised' (CNBC) The Boston guy who helped avert economic disaster is leaving the Fed (The Boston Globe) [versus] JPMorgan CEO calls for regulatory changes in shareholder letter (Reuters)

Commerzbank to cut 7,800 jobs in Germany: Handelsblatt (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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