Friday, July 15, 2016

Friday roundup (07-15-2016)

Eurozone pulls itself out of deflation in June - just (CityAM)

France's Hollande says Nice attack undeniably of terrorist nature (Reuters)

Italy is more dangerous than Brexit: Europe’s next crisis could be systemic (The Huffington Post)

Germany sees some leeway for Italian bailout of banks - source (Reuters)

Bank of Italy cuts Italy's growth outlook following Brexit (Reuters)

George Osborne’s austerity choked off the recovery: Brexit is his legacy: The former chancellor’s reputation lies in tatters after six years of punishing the poor and rewarding the rich prompted the referendum revolt (The Guardian)

[Military] Coup underway in Turkey amid reports of gunfire, explosions in major cities, police deaths (FoxNews) EU source says Turkey coup bid looks substantial, 'not just a few colonels' (Reuters)

White House: Budget deficit to rise to $600B (The Associated Press)

Donald Trump officially picks Mike Pence as his running mate (The Washington Post) Donald Trump just turned a key moment into a complete mess (once again) (The Washington Post) Pence 'very excited' to be Trump's No. 2 on GOP ticket (USAToday)

‘Trump’s First Mistake’ — Ann Coulter Not Impressed by Potential Veep Mike Pence (Mediaite) What Media Should Know About Trump’s Reported VP Pick, Indiana Gov. Mike Pence (Media Matters) Mike Pence & Donald Trump: 5 Fast Facts You Need to Know (Heavy)  5 things to know about Mike Pence (Marketwatch) Mike Pence Is A Fraud: His pliability and lack of courage probably make him a model candidate for the 2016 Republicans (The Federalist)  5 faith facts on Mike Pence: A ‘born-again, evangelical Catholic’ (Religion News Service)

Trump leads Clinton by 7 points: Rasmussen poll (The Hill blogs)

G.O.P. CONVENTION ORGANIZERS GROVEL FOR MONEY AFTER COMPANIES PULL THEIR SUPPORT: Just days before the Republican National Convention, Republicans are asking Sheldon Adelson for $6 million to cover the shortfall. (Vanity Fair)

     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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