Friday, July 22, 2016

Friday roundup (07-22-2016)

Brexit Wreaks Havoc on U.K. Economy as Recession Risk Increases (Bloomberg)

[In the United States,] Tim Kaine Calls To Deregulate Banks As He Campaigns To Be Clinton’s VP: Who needs consumer protections when we have all these job creators? (The Huffington Post)

[Meanwhile,] Democratic Platform Grew More Liberal on Financial Regulation: Party looks to defend Consumer Financial Protection Bureau, backs a financial-transactions tax (The Wall Street Journal) 2016 The Democratic Platform (Democratic National Convention)

Lufthansa to Eliminate 700 Jobs at Engine-Maintenance Division (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.

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