Saturday, January 21, 2017

Saturday roundup (01-21-2017)

As Another Economic Crisis Approaches, Greece and Euro Should Consider a Divorce (The Huffington Post)

[The United States] Justice Department blesses White House post for Kushner (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.

Friday, January 20, 2017

Friday roundup (01-20-2017)

‘None of us knows what is going to happen’: Trump’s presidency takes America into uncharted waters. (Politico)

Trump's policies are 'very, very favorable' to financials, former Wells Fargo CEO says (CNBC)

Here’s How Much Barack Obama Added to the National Debt (Fortune)

Brutal Austerity Is Coming to a Statehouse Near You: Most eyes are on federal politics, but big cuts could be coming to your state. [Jan. 15] (AlterNet)

     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, January 19, 2017

Thursday roundup (01-19-2017)

Italy presents the European Union’s new bank-rescue rules with their first big test: For Italian banks to turn a page, Monte dei Paschi di Siena must be sorted out (The Economist)

     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, 01-19-17)

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 sank by 15,000 to 234,000 in the week ended Jan 14, just a hair above the post-recession low, the government reported 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, January 18, 2017

Wednesday roundup (01-18-2017)

Italians’ Public-Debt Load Up 2,617 Euros Each on Renzi Miss (Bloomberg)

DBRS cuts Italy's credit rating, posing problems for its banks (Reuters)

Federal watchdog: U.S. government spending "unsustainable" (CBSMoneywatch)

Credit Suisse Resolves U.S. Mortgage Probe for $5.3 Billion (Bloomberg)

The Trump lobbying purge that wasn’t: The transition made a big show of sidelining lobbyists, but they found ways to stay involved anyway. (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.

Tuesday, January 17, 2017

Tuesday roundup (01-17-2017)

Eurozone banks see credit standards easing: ECB (Marketwatch)

EU asks Italy to cut back 2017 budget deficit: Treasury source (Reuters)

Deutsche Bank finalizes $7.2 billion settlement [with the United States Department of Justice] (CNNMoney) It's official: Deutsche Bank reaches $7.2 billion RMBS settlement: Largest RMBS settlement ever (HousingWire)

Morgan Stanley pays $13 million to settle overbilling charges: Company says the charges were the result of coding errors (ConsumerAffairs)

The restaurant recession turned even more damaging in December (Marketwatch)

As Trump Era Arrives, a Sense of Uncertainty Grips the World (The New York Times)

Airplanes, golf courses, trademarks and more: Trump’s government will oversee his businesses (The Washington Post)

Lowe’s cutting 2,400 full-time jobs as part of staffing overhaul (The Charlotte Observer)

     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, January 16, 2017

Monday roundup (01-16-2017)

World’s 8 Richest Have as Much Wealth as Bottom Half of Global Population [the eight are: Bill Gates, Amancio Ortega Gaona, Warren Buffett, Carlos Slim, Jeff Bezos, Mark Zuckerberg, Larry Ellison, and Mike Bloomberg] (The New York Times)

Italy in talks with EU over budget deficit: sources (Agence France Presse)

Bank of England ‘keeping close eye on UK consumer spending’: Mark Carney says consumers are powering economy through Brexit uncertainty but debt is increasing (The Guardian)

[United States President-elect Donald] Trump's Cabinet pick invested in company, then introduced a bill to help it (CNN)

Bank Failures by Year (Calculated Risk blog)

Bankrupt U.S. retailer American Apparel starts layoffs [about 2,400 workers in Southern California] (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.