Monday, September 18, 2017

Monday roundup (09-18-2017)

Global debt may be understated by $13 trillion: BIS (Reuters)

Greece must complete most pending bailout reforms by November: PM (Reuters)

Britain's debt time​bomb: FCA urges action over £200bn crisis: Watchdog’s chief executive says he has seen problem at first hand, as new figures show rising levels of debt (The Guardian) UK debt is explosive – and it only needs a spark to light the fuse: The Bank of England is right to warn over consumer borrowing – even if the central bank itself has been partly responsible (The Guardian)

The Record Surge In Our National Debt Is An Urgent Wake-Up Call For American Families by Gov. John Kasich (Forbes)

Senate Votes to Buy More Military Planes Than Pentagon Requested: Annual Pentagon policy bill would authorize $700 Billion (Bloomberg)

New GOP ObamaCare repeal bill gains momentum (The Hill) Republicans Demand Another Vote to Repeal the Affordable Care Act (The New York Times) Could Congress repeal Obamacare in the next two weeks? (The Washington Post)

US government wiretapped former Trump campaign chairman (CNN)

Donald Trump's unpresidential presidency keeps hitting new lows (CNN)

Establishment gears up for Steve Bannon’s war on the GOP leadership (The Washington Post)

Obama Goes From White House to Wall Street in Less Than One Year (Bloomberg)

'Extremely dangerous' Hurricane Maria heading for Dominica, Puerto Rico (CNN)

Toys R Us could file for bankruptcy as soon as this week, sources say (CNBC)

TD Ameritrade closes on purchase of Scottrade, up to 1,000 job cuts planned (The St. Louis Post-Dispatch)

     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, September 17, 2017

Sunday roundup (09-17-2017)

Growing risk of [global] 'debt trap' if interest rates stay low, say central bankers: Near-zero rates have spurred borrowing and left consumers, businesses and governments at risk, says Basel institution (The Guardian)

BIS discovers $14 trillion of dollar debt offshore, hidden in 'footnotes' by Ambrose Evans-Pritchard [most of article hidden behind paywall] (The Telegraph)

RTs = endorsements? Trump’s retweets of outlandish memes a signal to his base (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.

Saturday, September 16, 2017

Saturday roundup (09-16-2017)

Global debt is around 3 times the size of the world economy — and it shows no sign of slowing down by John Maudlin (The Business Insider)

[In the United States,] Trump Sets Aside UN Distrust to Seek Allies on North Korea, Iran (Bloomberg)

With little to lose, Democrats cautiously share the driver’s seat with Trump (The Washington Post) Left warns Pelosi, Schumer: Don’t get too close to Trump: Liberals worry about the consequences of cutting deals with a divisive, mercurial president. (Politico)

We applaud President Trump for his DACA deal with Democrats [Editorial] (The Deseret News)

Trump’s ‘fake news’ attack lost its power this week (The Washington Post)

With Cost-Cutting Zeal, Tillerson Whittles U.N. Delegation, Too (The New York Times)

     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, September 15, 2017

Friday roundup (09-15-2017)

After new North Korea missile test, U.S. says has military options (Reuters)

Trump Angers British as He Uses London Attack to Promote His Hard-Line Policies (The New York Times) Theresa May rebukes Donald Trump over tube bombing tweets: PM says US president’s speculation that Parsons Green attack perpetrators were known to Metropolitan police is unhelpful (The Guardian)

Hurricane Harvey slams U.S. retail sales, industrial output (Reuters)

Trump’s top supporters are in a full-blown panic. They’re right to be afraid. (The Washington Post blogs) GOP feels betrayed by Trump’s dealmaking with Dems: The president’s immigration talks with Chuck Schumer and Nancy Pelosi have exacerbated Republican frustration with the White House. (Politico) Hannity: GOP leaders have pushed Trump into arms of Schumer, Pelosi (The Hill blogs) President Donald Trump Considers New Compromises: The president experiments with different tactics as he tries to break the stalemate on key issues. (US News & World Report) 35 thoughts on Trump 'winging it' with Democrats (The Hill)

Trump's new world (Axios) The Loneliest President: He’s increasingly isolated in the White House, but for Donald Trump, being alone is not a liability. It’s where he’s most comfortable. (Politico)

Ex-WH ethics chief: Trump has created environment of ‘serial ethics problems’ (The Hill blogs)

     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, September 14, 2017

Thursday roundup (09-14-2017)

Bank of England set to raise interest rates 'over coming months' to curb inflation: Despite keeping rates on hold at 0.25 per cent, the Monetary Policy Committee signalled it was gearing up for a rate increase, possibly later this year (The Independent)

[In the United States,] Trump Confirms Support for Law to Protect ‘Dreamers’ (The New York Times) Trump’s latest tweetstorm signals major concessions may lie ahead (The Washington Post blogs) Trump, Pelosi and Schumer: Bipartisanship is back at the White House (USAToday)




Trump Humiliated Jeff Sessions After Mueller Appointment (The New York Times)

     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, 09-14-17)

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 in the period running from Sept. 3 to Sept. 10 slipped to 284,000 from 298,000, the Labor Department 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, September 13, 2017

Wednesday roundup (09-13-2017)

Bank of England 'will take action' if banks' Brexit moves pose risks (CityAM)

Americans' Borrowing Hits Another Record. Time To Worry? (National Public Radio)

Here's how much money Americans have in their savings accounts (CNBC)

Hurricanes Harvey and Irma may have caused up to $200 billion in damage, comparable to Katrina (ABCNews) Harvey’s hit to mortgages could be four times worse than predicted—and then there’s Irma (CNBC) Hurricane victims facing a long road to home reconstruction (ABCNews)

Pelosi, Schumer Strike Another Agreement With Trump, This Time On DACA (The Associated Press) Schumer, Pelosi say DACA deal will exclude wall after dinner with Trump [on Wednesday] (Washington Examiner) Trump Woos [Other] Democrats on Tax Overhaul at White House Dinner [on Tuesday] (Bloomberg)




WH: Trump 'looks forward' to signing resolution condemning white supremacists (CNN)

Mueller haunts the West Wing (Axios) Trump's closed-door rants on Comey and Mueller (Axios)

Trump FEMA Nominee Withdraws After NBC Questions on Falsified Records (NBCNews)

When Trump Slams the Media, It's an Act of Love: I've been wooed by him and sued by him, so I should know. (Bloomberg)

House votes to curb asset seizures (The Hill blogs)

Oracle slashed more than 1,000 jobs earlier this month, reports suggest: The company has not issued an official statement so far. (International Business Times)

     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.