Monday, April 24, 2017

Monday roundup (04-24-2017)

Don’t assume Marine Le Pen is beaten: it’s delusional and dangerous: Leftwingers and ultra-conservatives could yet hand the French presidency to the Front National candidate – by refusing to back Emmanuel Macron on 7 May (The Guardian) Macron and Le Pen are now in a battle for the soul of France (The Los Angeles Times) Win or lose, Marine Le Pen is a nightmare for the EU (CNN)




French Election Results Provide Little Hope To Spur Country's Dismal Economy (Forbes)

Italy situation is bigger elephant in room than French and German elections: UBS chairman (CNBC)

Fitch cuts Italy's debt rating; cites weak growth, political risk (Reuters)

IMF says Greece needs to dig even deeper (Marketwatch)

[In the United States,] Trump seeks 15 percent corporate tax rate, even if it swells the national debt (The Washington Post)

Forget the critics, Mr. President. Your first 100 days have been just fine. (The Washington Post)

The makings of the next credit crisis could be in your driveway (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.

Sunday, April 23, 2017

Sunday roundup (04-23-2017)

Debt levels [around the globe] are now back where they were when Jim Cramer had his prophetic TV meltdown 10 years ago (The Business Insider) Cramer: Bernanke, Wake Up (Youtube)



Le Pen faces Macron in final round of French presidential election (CNN) Macron faces Le Pen for French presidency as mainstream parties bow out early (France24)

Vijay Mallya's $1 BILLION debt is just the 'tip of the iceberg' of unpaid loans that are holding back India's economy (The Daily Mail)

[In the United States,] Trump and Congress eye shutdown showdown over border wall: The deadline to fund the government is fast approaching, and neither Democrats nor the White House is backing down. (Politico) White House budget chief floats trade on ObamaCare, border wall funding (The Hill blogs)

Trump’s Fake War on the Fake News: The president puts on a big show of assaulting his “opposition” in the news media. But inside the White House, it’s a different story. (Politico)

Stores are closing at an epic pace (CNNMoney)

     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.

Saturday, April 22, 2017

Saturday roundup (04-22-2017)

France votes in cliffhanger presidential election on Sunday (Reuters)

IMF Still Won't Sign Up To Greek Debt Deal - Turbulence Ahead (Forbes)

[United States House Speaker] Ryan Tells Colleagues House Will Act in Time to Avoid Shutdown (Bloomberg)

Sears names new CFO, plans more store closures (USAToday)

     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.

Friday, April 21, 2017

Friday roundup (04-21-2017)

Fitch cuts Italy's debt rating; cites weak growth, political risk (Reuters) I.M.F. Torn Over Whether or Not to Bail Out Greece Again (The New York Times blogs)

IMF applauds Greek surplus, wants debt strategy before joining bailout (Reuters)

[In the United States,] Trump says 100-day marker is ‘ridiculous.’ But he’s scrambling to show progress by then on taxes, health care. (The Washington Post) Donald Trump just pulled a major flip-flop on his first 100 days in office (CNN)

Trump, Republicans face tricky task of averting U.S. government shutdown (Reuters)

White House pressures GOP leaders on Obamacare showdown next week: ‘The question is whether it can get 216 votes in the House, and the answer isn't clear at this time,’ a senior GOP aide said. (Politico) Uphill battle looms as Trump seeks revamped healthcare plan (Reuters)

Wal-Mart is slashing prices and deepening deflation woes for retailers (FoodDive)

     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.

Thursday, April 20, 2017

Thursday roundup (04-20-2017)

IMF encourages banks to sack staff amid weakness due to 'legacy of bad debt': THE International Monetary Fund (IMF) is warning banks to get rid of their staff amid concerns over their assets. (The Express)

[In the United States,] White House could provoke a spending showdown over funding for border wall (The Washington Post) White House eyes harder line on shutdown talks: The push for tighter border security is risky and comes amid pressure for a win. (Politico)

Trump is trying to repeal Obamacare again, but he still doesn't have the votes (The Los Angeles Times) House Republicans near potential breakthrough on health care, source says (CNN) The GOP has a new plan to destroy Obamacare. It’s even crueler than the last one. (The Washington Post blogs) How Republicans could pass 'TrumpCare' this month (The Hill blogs) ObamaCare replacement deal hits major speed bumps (The Hill)

     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.

Is it a recovery yet? (Weekly report, 04-20-17)

A recovery would be indicated by weekly initial jobless claims holding below 500,000, according to Linda Duessel, market strategist at Federated Investors in Pittsburgh. (Reuters)

IT'S A RECOVERY! (And it has been a recovery for every week since the Nov. 25, 2009 report, with the exception of the Aug. 19, 2010 report.)

Number of people collecting unemployment checks hits 17-year low, jobless claims show: Initial jobless claims total 244,000 in mid-April (Marketwatch)

US Jobless Claims Fall To 1970s Levels - Maybe This Is Good, Maybe Bad (Forbes)

SEE LAST WEEK'S POST HERE.

     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.

Wednesday, April 19, 2017

Wednesday roundup (04-19-2017)

Markets Start to Ponder the $13 Trillion Gorilla in the Room (Bloomberg)

The Great Western Economic Depression (Sprott Money)

They want to kill the euro: Why many Europeans want their money back (CNNMoney)

Nobel-winning economists attack Le Pen’s plan to leave Euro (The Connexion)

Brexit’s unpredictable outcome poses risk to global stability, says IMF: Organisation also says financial stability is threatened by US corporate debt, China’s credit bubble and weak EU banks (The Guardian)

China expands bad loan securitisation scheme to include more banks - state media (Reuters)

The US could see a 'significant' rise in public debt-to-GDP ratio: IMF fiscal affairs director (CNBC)

How Trump's First 100 Days Could End in a Government Shutdown: The historical marker on April 29 will coincide with the expiration of federal funding unless Congress can strike a bipartisan deal in time. (The Atlantic) White House eyes harder line on shutdown talks: The push for tighter border security is risky and comes amid pressure for a win. (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.