Wednesday, November 22, 2017

Wednesday roundup (11-22-2017)

Six euro zone states risk EU budget rule breach in 2018 [= Austria, Belgium, France, Italy, Portugal, and Slovenia] (Reuters)

Italian government debt 'reason for concern': EU (The Local)

Saad Hariri Steps Back From Resignation in Lebanon (The New York Times)

[In the United States,] Too-big-to-fail banks keep getting bigger (CNNMoney)

Yellen Says It's Dangerous to Allow Inflation to Drift Lower (Bloomberg)

Out of 42 top economists, only 1 believes the GOP tax bills would help the economy: But all of them think it will increase the debt. (Vox) 37 of 38 economists said the GOP tax plans would grow the debt. The 38th misread the question. (The Washington Post)

How Trump is building a border wall that no one can see (The Washington Post)

What Trump Really Told Kislyak After Comey Was Canned: During a May 10 meeting in the Oval Office, the president betrayed his intelligence community by leaking the content of a classified, and highly sensitive, Israeli intelligence operation to two high-ranking Russian envoys, Sergey Kislyak and Sergey Lavrov. This is what he told them—and the ramifications. (VanityFair)

Will Mueller Indict Kushner? Trump's Son-in-Law ‘Natural’ Target For Russia Probe, Legal Experts Say (Newsweek)

FCC will also order states to scrap plans for their own net neutrality laws: Double win for ISPs: No more net neutrality, and state laws will be preempted. (Ars Technica) Twitter Confirms Maddow's Prediction: Ending Net Neutrality Is A Very Big Deal (Crooks and Liars blog)




Trump's Thanksgiving at Mar-a-Lago Will Cost American Taxpayers Over $1 Million (Newsweek) President Trump has visited a Trump property on 34 out of his 45 weekends in office (USAToday)

Trump Organization Will Exit From Its Struggling SoHo Hotel in New York (The New York Times)




Former ethics chief files complaint after Conway attacks Alabama Dem (The Hill)




Top Trump staffers failed to file financial reports on their way out the door (McClatchy Washington Bureau)

Since the attack, my husband Rand Paul hasn't taken a single breath without pain (CNN) The mystery over the attack on Rand Paul deepens (CNN)

The last time a GOP president faced a Roy Moore-esque dilemma, his response was very different (The Washington Post) Police Were Told To Keep Roy Moore Away From High School Cheerleaders, Retired Officer Says: “I didn’t realize it until some time later that when they said he liked young girls — I just thought he liked young ladies, you know, younger than him, maybe in their 20s.” (The Huffington Post)

President Trump and accusations of sexual misconduct: The complete list (The Washington Post)

     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.

Initial jobless claims (Weekly report, 11-22-17)

The purpose of this weekly post is to watch how initial jobless claims in the United States are trending (up or down) and to keep track of whether the numbers are holding below 500,000, which would indicate at least the appearance of a fairly healthy economic situation.

According to the report released today:

"Initial jobless claims, a tool to measure U.S. layoffs, fell by 13,000 to 239,000 in the week ended Nov. 18." (Marketwatch)

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.

Tuesday, November 21, 2017

Tuesday roundup (11-21-2017)

We could see twice as many big earthquakes next year, scientists warn — because the equator has shrunk (The Business Insider)

Merkel's deteriorating political muscle severely hampers Europe (The Hill)

Americans are having trouble paying off their credit cards — and it could spell trouble for the economy (The Business Insider)

[Fox News Host] Neil Cavuto to Trump: “You’re the president . . . why don’t you act like it?”: “At what point does the president see such remarks don’t even border on being human?” (Salon)

As the F.B.I. Closes In, Trump’s Lawyers Are Scrambling to Keep Him Calm: The White House is projecting optimism that the investigation will soon conclude, but experts think it’s “just getting started.” (VanityFair)

Trump, Putin discuss Syria, North Korea in hour-plus call (CNBC) Trump cedes Syrian postwar planning to Putin: Experts and U.S. officials say the real fight now is about a regional power struggle playing out in the country. (Politico)




Congress speeds toward [government] shutdown over Dreamers: Party leaders on both sides of the aisle fear they’ll be blamed for budget brinkmanship — but they’re equally afraid of enraging their grass roots. (Politico)

Federal Judge Rules That Trump's Sanctuary Cities Order Is "Clearly Unconstitutional": A White House statement late Tuesday night lashes out at the "unelected judge" behind the ruling and decries city officials who "author" sanctuary city policies as "hav[ing] the blood of dead Americans on their hands." (BuzzFeedNews) Judge Rules Trump Executive Order Cutting Funding From Sanctuary Cities Is Unconstitutional (Slate blogs)

Trump says Republican Roy Moore must be elected in Alabama (NBCNews)
















F.C.C. Plans Net Neutrality Repeal in a Victory for Telecoms (The New York Times) FCC plans total repeal of net neutrality rules (Politico) FCC Is Revving Up to Destroy the Internet As We Know It: Net neutrality is under attack and only collective action can save it. (Popular Mechanics)

U.S. diplomats [= about a dozen] accuse Tillerson of breaking child soldiers law (Reuters)

“Kelly Has Clipped his Wings”: Jared Kushner’s Horizons Are Collapsing within the West Wing: The West Wing princeling’s portfolio had been shrunk largely to the Middle East—but then his Saudi Arabia trip caused problems for the chief of staff. (VanityFair) Mueller is turning up the heat on Jared Kushner (The Business Insider)

Leading Trump Census pick causes alarm: The 2020 count might be put in the hands of an inexperienced professor who wrote that 'Competitive Elections are Bad for America.' (Politico)

Donald Trump's science office is a ghost town (CBSNews)

Luminant coal plant closings eliminate 600 jobs in Texas (The Dallas Morning News)




     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.

Monday, November 20, 2017

Monday roundup (11-20-2017)

Germany Plunged Into Political Crisis After Coalition Talks Fail (The New York Times) The End of German Stability: The collapse of coalition talks bodes badly for Angela Merkel, and for democratic governments everywhere. (Slate) Germany’s preliminary coalition talks collapse: A minority government or new elections are the most likely outcome (The Economist) Merkel’s coalition is in chaos — here’s what happens next (CNBC)

Japan PM Abe: Govt and BOJ to work together to beat deflation (Reuters)

[In the United States,] Yellen Says She’ll Leave Fed Once Powell Is Sworn In as Chairman (Bloomberg)

The stampede of Puerto Ricans to Florida is bad news for Trump (The Miami Herald)

Our Biggest Economic, Social, and Political Issue by Ray Dalio [Oct. 23] (LinkedIn)




The debt time bomb that keeps growing and now equals nearly half of US GDP [= corporate debt] (CNBC)

When Unpaid Student Loan Bills Mean You Can No Longer Work: Twenty states suspend people’s professional or driver’s licenses if they fall behind on loan payments, according to records obtained by The New York Times. (The New York Times)

Here are the Senate Republicans who will decide the fate of the tax bill [in vote after Thanksgiving recess] (CNN) Time for Republicans to denounce this tax nonsense [Editorial] (The Washington Post) If the GOP tax plan is so good, why do they lie so much about it?: They ran on a middle-class tax cut. They’re delivering the opposite. (Vox)

AT&T Sued by U.S. Seeking to Block Merger With Time Warner (Bloomberg) Trump administration sues to block AT&T-Time Warner merger: The suit comes little more than a year after then-candidate Donald Trump said the $85 billion merger would place ‘too much concentration of power in the hands of too few.’ (Politico)

Trump Hasn’t Fired Mueller Yet Because His Lawyer Is Blowing Sunshine (New York) ‘A long winter’: White House aides divided over scope, risks of Russia probe (The Washington Post) Mueller interviews with senior White House officials coming up (CNN) Special counsel sends wide-ranging request for documents to Justice Department (ABCNews)
















The Senate just made it a lot easier for Trump to appoint federal judges, over Democrats’ objections (The Washington Post)




Trump World Wanted Distance From Roy Moore. Then Key Allies Lobbied The President to Reconsider.: The Breitbart Chairman along with Kellyanne Conway and others urged Trump to keep his mouth shut about the embattled GOP nominee. Trump was happy to keep quiet. (The Daily Beast) White House waits for McConnell to spell out Alabama options (CNN) Alabama's biggest newspapers urge voters to 'reject Roy Moore' (CNN)




Make Nepotism Great Again: 20 Families Got Jobs in Trump Administration: Rudy Giuliani’s son, Seb Gorka’s wife, Eric Trump’s brother-in-law. Multiple members of the same families hold positions of power. (The Daily Beast)

[Connecticut] State Comptroller Projecting $202 Million Budget Deficit (NBC Connecticut)

     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, November 19, 2017

Sunday roundup (11-19-2017)

Merkel fourth term in doubt as German coalition talks fail (Reuters)

[In the United States,] Ivanka’s signature real estate deals were disasters linked to drug cartels and money laundering: The president’s daughter has been at the center of a pair of the presidential projects tied most closely to grand corruption. (ThinkProgress)

     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, November 18, 2017

Saturday roundup (11-18-2017)

Germany supplants US as the country with the best global reputation (CNN)

Lebanon's prime minister arrives in Paris, heralding the end of one crisis but perhaps starting another (The Los Angeles Times)

Top general [in the United States] says he would resist "illegal" nuke order from Trump (CBSNews)

GOP tax plan: Nearly half of benefits go to top 1 percent: ‘There has never been a tax cut in American history in which taxes were raised on the poor to benefit the wealthy,’ Joy Reid’s guest Bruce Bartlett says of the GOP tax plan. (MSNBC) Bruce Bartlett On Tax Plan: Why Aren't People Marching In The Streets? (Crooks and Liars blog)



Robert Reich Debunks The 7 Biggest Economic Lies Republicans Love To Tell In 2 Minutes (VIDEO [from Oct. 10k 2011]) (ReverbPress)




The House Just Voted to Bankrupt Graduate Students (The New York Times)

The Cause and Consequences of the Retail Apocalypse: Private equity firms overburdened businesses with debt, and now workers are paying the price. Will policymakers do anything about it? (New Republic)

A year after Trump's election, coal's future remains bleak (Reuters)

Texans blast Trump's $44B storm relief package as 'inadequate' as White House goes on defense (The Dallas Morning News)

Trump halts decision to allow elephant trophy imports after uproar (Reuters) Trump faced public and private pressure to halt elephant hunting trophy imports (The Washington Post)

Trump advisers only show him positive polls: report (The Hill) Trump still loves polls: The president often decries surveys showing him with slumping support as fake, but advisers say he can't stop himself from obsessively keeping track. (Politico)

Aides give up on trying to control Trump’s tweets: Trump’s post on Franken allegations was the latest example of the president's habit of using his Twitter account to draw fire, rather than deflecting it. (Politico)

The walls are closing in on Jared Kushner: New reports show that the president's son-in-law may have hidden key details pertinent to the ongoing Russia investigation. (ThinkProgress)




The media is giving up its place in our democracy by Chris Wallace (The Washington Post)

     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, November 17, 2017

Friday roundup (11-17-2017)

Germany's Merkel, Weakened After Poor Election Showing, Struggles To Form Government (National Public Radio)

Saudi officials reportedly offer freedom to arrested royals — in exchange for 70% of their wealth (CNBC) Saudis expand crackdown with arrest of military officials and businessmen, WSJ reports (CNBC) Saudi Arabia 'settlement': Why the kingdom is offering detained elites freedom for their assets (CNBC)

Lebanon's [Prime Minister] Hariri on Twitter [who has been in Saudi Arabia since Nov. 4]: "I am on the way to the airport" (Reuters)

The House majority is slipping away from Republicans [in the United States] (The Washington Post blogs)

Wells Fargo fires head of consumer lending for misconduct (CNNMoney)

Trump admin. began accepting permits to import lion trophies last month (ABCNews) Trump to allow imports of African elephant trophies (The Hill)

FCC Relaxes Media Ownership Rules in Contentious Vote [as posted here yesterday] (Variety)




     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.