Wednesday, August 17, 2016

Wednesday roundup (08-17-2016)

Europe grocery markets grows at slowest rate on record: Report (CNBC)

[In the United States,] Obamacare is unsustainable — the backbone could collapse, expert warns (CNBC)

Obamacare Is a Money-Loser for Insurers, Who Are Giving Up: With almost $2 billion in losses this year, big insurance companies are pulling out of the health-care program. (Bloomberg)

Trump shakes up campaign, demotes top adviser (The Washington Post)  Donald Trump’s Latest Campaign Shake-Up Proves He Has No Intention of Being Less Trump-Like (Slate) Donald Trump’s hire of Breitbart News chief is a middle finger to the GOP establishment (The Washington Post) This Man Is the Most Dangerous Political Operative in America: Steve Bannon runs the new vast right-wing conspiracy—and he wants to take down both Hillary Clinton and Jeb Bush. [10/8/15] (Bloomberg) [Bannon of Breitbart is the "writer and producer of [the documentary film] Clinton Cash"] [Marketwired via] (Yahoo!) STEPHEN BANNON, TRUMP’S NEW C.E.O., HINTS AT HIS MASTER PLAN: Can the man behind Breitbart—a Harvard M.B.A. who worked at Goldman Sachs and made a killing off of Seinfeld—save Trump? And at what cost? (Vanity Fair)

Live updates: Devastating Blue Cut fire in Cajon Pass consumes homes at rapid rate, burning out of control (The Los Angeles Times)

Cisco to cut 5,500 jobs in shift from switches to software (Reuters)

Ola slashes around 700 jobs, shuts down TaxiForSure business (Press Trust of India)

     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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