Wednesday, May 31, 2017

Wednesday roundup (05-31-2017)

Greece needs debt relief deal in June, ECB's Coeure says (Reuters)

China's debt downgrade signals alarm over its finances: Growing reliance on shadow finance raises fears of a 'Minsky moment' (Nikkei)

IMF warns about Canadian housing and household debt, urges more government action: The International Monetary Fund is warning about the risks of a possible housing market correction in Canada. (The Toronto Star)

Debt fight blindsides [United States] Congress: Lawmakers aren't ready for a bruising debt ceiling battle, but it may be coming sooner than expected. (Politico)

Deja vu? Student subprime debt surges 32 percent (CNBC)

     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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