Monday, July 18, 2016

Monday roundup (07-18-2016)

EU's Moscovici urges Greece to stick to reforms for more debt relief (Reuters)

Analysts Fear Looming Italian Bank Failure (Breitbart)

Jobs and employment: Seven reasons the US picture is still weak (CNBC)

Debt Dangers: Why the U.S. needs to start reducing its national debt now. (US News & World Report)

CalPERS posts worst year since 2009, with slim returns (The Los Angeles Times)

Trump Calls for Restoration of Glass-Steagall, Echoing Warren (The American Banker) GOP Platform to Call for Breaking Up the Big Banks, Trump Campaign Says (New York)

DONALD TRUMP’S GHOSTWRITER TELLS ALL: “The Art of the Deal” made America see Trump as a charmer with an unfailing knack for business. Tony Schwartz helped create that myth—and regrets it. [-- "If Trump is elected President, he warned, 'the millions of people who voted for him and believe that he represents their interests will learn what anyone who deals closely with him already knows—that he couldn’t care less about them.'"] (The New Yorker) Donald Trump's Co-Author Regrets Writing The Art of the Deal and Says Trump Presidency Could 'End Civilization' (People)

     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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