Thursday, April 6, 2017

Thursday roundup (04-06-2017)

Draghi: No early exit from ECB's zero-interest rate policy: The euro has hit a three-week low after the European Central Bank (ECB) chief said he saw no need to deviate from accommodative policies, including zero interest rates and massive bond-buying until the end of the year. (DeutscheWelle)

China’s economic miracle is over: Export-driven economy isn’t as strong as government claims (Marketwatch)

[In the United States,] Three Precursors to the ’08 Crisis are Repeating Now by Nomi Prins [April 3] (Daily Reckoning)

Trump adviser from Wall Street backs U.S. bank breakup law (Reuters) Top White House adviser Gary Cohn offers support for move that could break up big banks (The Washington Post)

What 'Bring Back Glass-Steagall' Means to Left and Right (Bloomberg)

Fed's Kashkari: Dimon got it wrong, 'too big to fail is alive and well' (Yahoo! Finance)

Steve Bannon Calls Jared Kushner a ‘Cuck’ and ‘Globalist’ Behind His Back: Donald Trump’s two closest aides are fighting “nonstop” and often “face-to-face,” officials say — and it’s even uglier in private. (The Daily Beast) Civil war rages throughout Trump administration: Trump campaign staffers are squaring off against establishment GOP types in federal agencies — and the casualties are piling up. (Politico)

     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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