Tuesday, June 7, 2016

Tuesday roundup (06-07-2016)

World Bank warns of 'insipid' global recovery as debt danger looms (The Telegraph)

[In the United States,] House Republican unveils plan to overhaul Dodd-Frank financial reform law (The Los Angeles Times) Super-Capitalized Banks Free From Rules in Republican’s Plan (Bloomberg) Republican's plan to revamp Dodd-Frank highlights U.S. political divide (Reuters) Sen. Elizabeth Warren slams Dallas Rep. Hensarling’s Dodd-Frank proposal as ‘wet kiss’ to Wall Street (The Dallas Morning News blogs) Senator Elizabeth Warren Calls Out GOP Efforts to Roll Back Dodd-Frank (Youtube)

There's a $6.6 trillion reason the US might be nearing a recession [= corporate debt] (The Business Insider)

The controversy brewing over John Oliver’s debt buy: Debt activists [at The Debt Collective] say they weren’t properly acknowledged (Marketwatch)

The Drought Solution That’s Under Our Feet: When California searches for relief from the drought, and explores different solutions, from conserving water to desalination, one avenue that often gets overlooked is what’s under our feet – soil. (NewsDeeply)

Puerto Rico debt relief bill advancing in U.S. House (Reuters)

Daimler Trucks to cut more jobs in North America: Daimler's truck division has said it needs to cut over a thousand more jobs in the US and Mexico as demand slows. The company announced its Mount Holly facility in North Carolina would be hit worst. (Deutsche Welle)

Ralph Lauren to close 50 stores, cut [about 1,000] jobs in bid for profitability (USAToday)

     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.

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