Friday, May 26, 2017

Friday roundup (05-26-2017)

Greece on track to reach a deal with creditors within 3 weeks, IMF official says (CNBC)

[United States President Donald] Trump’s views on climate are ‘evolving,’ aide says, amid pressure from Europeans (The Washington Post) As he wraps up his first international trip, a White House adviser said Pres. Trump’s views on climate change have evolved during the G-7 summit, and that the administration is looking to get tougher on Russia. (NBC Nightly News)



In shakeup, Trump to set up 'war room' to repel attacks over Russia probe (Reuters) Steve Bannon to head Trump's Russia war room of legal 'A-Team,' street fighters and surrogates (FoxNews) Lawyers may start vetting Trump's tweets, as White House reportedly considers strategy shift (CNBC)

State of Illinois Closes Fayette County Bank in St. Elmo: IDFPR Director Sites Operations of an Unsafe and Unsound Nature (WJBD) Fayette County Bank of Saint Elmo IL had a troubled assets ratio of 207.7 percent. (BankTracker)

     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, May 25, 2017

Thursday roundup (05-25-2017)

'Putin will be thrilled': Former NATO ambassadors say Trump just dealt 'a major blow' to the alliance (The Business Insider) The Slight Heard 'Round the World: Trump's rude behavior at the NATO summit showcases the disrespect he reserves for our allies. (US News & World Report)

Why China’s Growing Debt Load Worries the World (The New York Times)

[In the United States,] GOP turns gloomy over Obamacare repeal: Senate Republicans leave for recess uncertain they can craft a plan that improves on the House bill and gets 50 votes. (Politico) GOP senators say tough report complicates health care bill (The Washington Post)

[Presidential Son-in-Law] Jared Kushner Now Under FBI Scrutiny in Russia Probe, Say Officials: NBC (NBCNews) Sources: Kushner Under Scrutiny By FBI as Part of Russia Investigation (NBC Nightly News)



Former Clinton Lawyer Thinks Trump Is Innocent of Criminal Activity [or more accurately, he says that he does not "see any evidence of any criminal intent"] (TownHall)

Appeals Court Will Not Reinstate Trump’s Revised Travel Ban (The New York Times)

US Consumer is De-leveraging [Mortgage Debt] (The Big Picture blog)

     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, 05-25-17)

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.)

"Initial jobless claims rose by 1,000 to 234,000 in the seven days stretching from May 14 to May 20, the government said Thursday." (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.

Wednesday, May 24, 2017

Wednesday roundup (05-24-2017)

Eurozone ‘still fragile’ despite growth spurt, warns European Central Bank (The Telegraph)

Goodbye cars? Why Europe’s cities are cleaning up their act: Across Europe cities are taking urgent steps to cut rising levels of air pollution from congested urban areas. (JLL Real Views)

UK household debt to hit a record £15,000 as wages stagnate: Families are increasingly turning to credit cards and payday loans to pay bills, says TUC. (International Business Times)

China's rising debt prompts Moody's downgrade (USAToday) China’s Addiction to Debt Now Threatens Its Growth (The New York Times)

[In the United States,] 23 million fewer people would have insurance under GOP health-care bill, CBO says (CNBC) Obamacare replacement could make costs soar for many sick people and those over 64 (CNBC)

Trump official in charge of food stamps departs from Trump’s plan to gut the program (The Washington Post)

Jeff Sessions said to have not disclosed meetings with Russian ambassador when applying for security clearance (CNBC)

Why The Russia Investigation Matters And Why You Should Care (National Public Radio)

5 moments that show Trump isn’t about to get any help from the intelligence community (The Washington Post)

America’s most successful companies are killing the economy: Winner-take-all companies, including Alphabet and Wal-Mart, are driving down wages and destroying communities (Marketwatch)

     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, May 23, 2017

Tuesday roundup (05-23-2017)

State bailout of Italian banks could re-ignite 'doom loop' concerns: S&P Global (Reuters)

Britain Raises Threat Level to ‘Critical,’ Says ‘Further Attack May Be Imminent’ (NBCNews) US leak of Manchester attacker's name strikes new blow to intelligence sharing: Naming of Salman Abedi by ‘US officials’ hours before it was announced by UK authorities is latest in series of leaks that may damage credibility with allies (The Guardian)

The day China’s version of the Lehman crisis explodes: An extraordinary expansion of personal debt poses a major risk to the world's second-largest economy (The Japan Times)

[United States] Lawmakers Declare President Trump’s Budget Proposal ‘Dead on Arrival’ (NBCNews) Trump's budget is facing massive blowback in Congress — and Republicans are some of the loudest complainers (The Business Insider) Face it, Trump voters — you got played (USAToday)

CIA director alerted FBI to pattern of contacts between Russian officials and Trump campaign associates (The Washington Post) Ex-CIA chief: Worries grew of Trump campaign contacts to Russia (Reuters)

The Questions About Obstruction Now Spread to White House Staff: Reports that presidential aides asked senior intelligence officials to help shut down the FBI investigation put those staffers in legal jeopardy. (The Atlantic)

Senate Intel panel issues subpoenas to Flynn businesses (The Hill)

Trump retains Marc Kasowitz as private attorney for Russia probe: reports (Reuters) Trump’s Longtime Lawyer Is Defending Russia’s Biggest Bank: Marc E. Kasowitz, who has represented Donald Trump for more than 15 years, was recently named a lead attorney in a federal civil lawsuit against Sberbank, which is majority-owned by the Russian government. (BuzzFeed)

‘RussiaGate’ Has Become a Catastrophic Failure of Leadership — and a Debacle From Which the Trump Presidency Will Not Recover: The Trump-Russia scandal has metastasized quickly and destructively. (Moyers & Company)

The Looming Retail Bailout (Forbes)

GM to cut 600 South Africa jobs by July as it pulls out of country (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.

Monday, May 22, 2017

Monday roundup (05-22-2017)

Eurozone WILL shrink and collapse: Shock report reveals what business leaders REALLY think: MORE than half of European business leaders expect the eurozone to shrink or collapse in coming years, according to a new report. (The Express)

Eurozone and Greece Fail to Agree Bailout Deal: The eurozone's top official says there has not yet been an agreement to give Greece the next batch of bailout cash it needs before a summer repayment bum. (The Associated Press) Euro zone ministers eye Greek debt deal with IMF, new loans decision in June (Reuters)

The Lights Are Going Out in the Middle East (The New Yorker)

[In the United States,] White House Moves to Block Ethics Inquiry Into Ex-Lobbyists on Payroll (The New York Times) Ethics Office Blasts Trump Refusal to Disclose Lobby Waivers: The Trump administration is pushing back on an effort by the Office of Government Ethics to force the disclosure of waivers issued to ex-lobbyists in the administration. (The Associated Press)

Trump asked intelligence chiefs to push back against FBI collusion probe after Comey revealed its existence (The Washington Post)

Flynn ‘Lied to Investigators’ About Russia Trip, Says Top House Dem (NBCNews) Chris Christie: I warned Trump about Flynn (CNN)

Leakers who revealed Israel as intelligence source did far more damage than Trump (The Washington Post)

Trump Drama Imperils GOP Legislative Agenda (NBCNews)

America's safety net is at risk from Trump's budget ax (CNNMoney)

Where Both the ACA and AHCA Fall Short, and What the Health Insurance Market Really Needs (The Harvard Business Review)

Loss-making Cathay Pacific makes biggest job cuts in 20 years [cutting 600 jobs] (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.

Sunday, May 21, 2017

Sunday roundup (05-21-2017)

Greece's Bailout Review Stalls as Creditors Debate Debt Relief (Bloomberg) Euro zone, IMF to seek compromise on Greek debt deal Monday (Reuters)

A Quarter Of American Adults Can't Pay All Their Monthly Bills; 44% Have Less Than $400 In Cash (ZeroHedge blog)

Russia meeting revelation could trigger obstruction investigation: President Donald Trump’s Oval Office boast to Russian officials will almost certainly prompt a more immediate legal development. (Politico)

West Wing aides brace for big attorney bills: Longstanding conflict-of-interest restrictions limit White House employees from taking free or discounted legal advice, but aides who need lawyers have some options for getting help. (Politico)

Cathay Pacific to cut 600 jobs, including 190 management staff: SCMP (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.