Tuesday, March 21, 2017

Tuesday roundup (03-21-2017)

A diet of debt: Should spiralling levels of leverage worry investors? (CityAM)

Italy's populist 'mad man' extremely worrying for euro area stability: Euro zone economist (CNBC)

[United States Secretary of State] Tillerson plan to skip NATO, visit Russia puts allies on edge (CNN) Tillerson plans to skip NATO meeting, visit Russia in April - sources (Reuters)

Trump’s lies are failing him, and it is making him deeply frustrated (The Washington Post blogs)

A Supreme Court Nominee Alert to the Dangers of Big Business: Far from reflexively favoring big corporations over small competitors, Judge Neil Gorsuch has a nuanced view of antitrust law. (The Atlantic)

Donald Trump Literally Nominated The Goldman Sachs Bailout Lawyer To Run The SEC: Will Democrats roll over? (The Huffington Post) Trump SEC Pick Jay Clayton Connected to Mysterious Firm: He's not the only one in this administration, but Trump's SEC chief pick has some strange family holdings (Rolling Stone)

Dear America: Better Read the Fine Print on Your Credit Card Statement by Charles Hugh Smith (of two minds 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.

Monday, March 20, 2017

Monday roundup (03-20-2017)

Here’s where the next financial crisis is lurking: Five places where animal spirits are running too high (Marketwatch)

Euro zone's Dijsselbloem wants bailout fund turned into a European IMF (Reuters)

Spain, Italy and Greece owe massive debt of €1 TRILLION to ECB: EURO states owe the European Central Bank (ECB) a staggering €1trillion as they teeter on the verge of bankruptcy amid warnings a debt bubble is on the horizon. (The Express)

Default Fears Resurface Over Singapore's Looming Debt Wall (Bloomberg)

[In the United States,] Will Donald Trump Keep His Campaign Promise To Reinstate Glass-Steagall? (Fortune) The Main Reason Why We Had the Financial Crisis Of 2008 (Lombardi Letter)

Overshadowed executive order sets stage for threatened federal programs, workforce. Layoffs loom. (The Washington Post)

Russian elite invested nearly $100 million in Trump buildings, records show (Reuters)

Comey Confirms Russia Inquiry, Rejects Trump Wiretap Claims (Bloomberg)

Say Hello to $3 Trillion in Forgotten Debt (Bloomberg)

     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, March 19, 2017

Sunday roundup (03-19-2017)

[In the United States,] Trump may move GOP health care bill to the right, dooming it in the Senate (CNN)

Trump approval rating sinks to new low (ABCNews)

     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, March 18, 2017

Saturday roundup (03-18-2017)

Shadow Lending Threatens China’s Economy, Officials Warn (The New York Times)

Donald Trump says Germany owes 'vast sums of money' to NATO, US for defence (The Associated Press) Trump Tweets Suggest President (Still) Doesn’t Understand How NATO Works (Slate) Fact-checking Trump's tweets: Does Germany owe NATO 'vast sums of money'? (ABCNews) No, Germany doesn’t owe America ‘vast sums’ of money for NATO (The Washington Post)

Trump 1, free trade 0: G20 drops pledge to fight protectionism (CNNMoney)

GOP health plan would hit state budgets hard: Moody's (CNBC)

L.A. budget report warns of $224-million deficit next year (The Los Angeles 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, March 17, 2017

Friday roundup (03-17-2017)

Europe is worried about Trump’s plans to de-regulate banks (CNBC)

House leaders [in the United States Congress] set Obamacare repeal and replace vote for Thursday (CNN) Trump OKs changes in GOP health care bill, winning support (The Washington Post) Trio of GOP proposals would overhaul Medicaid dramatically, starting with job requirement (The Washington Post)

Trump Reverses Obama-Era Protections on Student Debt: This clears the way for debt agencies to charge higher fees on overdue loans. (The Atlantic)

List of the 138 JC Penney stores that are closing (The Associated Press)

Alitalia to cut 2,037 jobs, reduce flight crew pay in latest revamp: unions (Reuters) Alitalia faces strikes as layoffs loom: Alitalia has said it will face extensive strike action in April. The cash-strapped airline will see protests against a series of slated savings measures involving thousands of job cuts and hefty wage reductions. (Deutsche Welle)

     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, March 16, 2017

Thursday roundup (03-16-2017)

Don’t get excited about the Dutch election result, Le Pen still has a 40% chance of victory: UBS (CNBC)

Bank of England votes 8-1 to hold interest rate at 0.25 percent (CNBC)

America First: A Budget Blueprint to Make America Great Again (The White House)

Trump Budget Is ‘Heavy Lift,’ Even for G.O.P. Congress (The New York Times) Capitol Hill Republicans not on board with Trump budget (The Washington Post) Trump’s dystopian budget is going nowhere (The Boston Globe)

What America would look like under the Trump budget (CNNMoney) Trump federal budget 2018: Massive cuts to the arts, science and the poor (The Washington Post) If you’re a poor person in America, Trump’s budget is not for you (The Washington Post blogs) Trump's 'hard power' budget makes sweeping cuts to EPA and State Department, boosts defense spending (The Los Angeles Times) Trump Takes a Gamble in Cutting Programs His Base Relies On (The New York Times) Trump Proposes Cutting Billions to Urban Areas He Vowed to Help (NBCNews) Trump Budget Cuts to Scientific, Medical Research Would Have ‘Devastating’ Effect: Experts (NBCNews)

PBS and the Corporation for Public Broadcasting push back on Trump's proposal to defund (The Los Angeles Times)

The 62 agencies and programs Trump wants to eliminate (USAToday)

Trump’s Budget Could Cut 200,000 Federal Jobs (Fortune)

Wall Street Worried It Might Be Underrepresented In Trump Administration (Dealbreaker) Team Trump’s Troubling Tentacles: The Goldman Sachs Vampire Squid (The New American)

Health bill short of votes, GOP leaders look to Trump (The Associated Press)

2 Federal Judges Rule Against Trump’s Latest Travel Ban (The New York Times) Trump vows appeal up to Supreme Court after loss on travel ban (Reuters)

Are Collapsing Pensions "About To Bring Hell To America"? (ZeroHedge 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, 03-16-17)

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.)

"The number of Americans who applied for unemployment benefits fell by 2,000 to 241,000 in mid-March, as layoffs remained near the lowest level in decades." (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.