Saturday, October 8, 2016

Saturday roundup (10-08-2016)

Italy must get all possible budget flexibility, but debt must fall: EU (Reuters)

A downgrade of Portugal's credit rating will affect all of Europe (The Business Insider)

Spain may grow more than 3.1 percent in 2016; will miss 2017 deficit goal (Reuters)

Hurricane Matthew economic damage nears $6 billion [in the United States] (USAToday) Hurricane Matthew's US Death Toll Rises to 9; Nearly 2 Million Without Power (ABCNews) Weakened Hurricane Matthew still deadly as it buffets U.S. Southeast (Reuters)

Trump recorded having extremely lewd conversation about women in 2005 (The Washington Post) The Violence of Donald Trump: Trump's leaked remarks about grabbing women are consistent with his history of alleged and admitted physical assaults (Rolling Stone) Lewd Donald Trump Tape Is a Breaking Point for Many in the G.O.P. (The New York Times)

Leaked Speech Excerpts Show Clinton at Ease With Wall Street and Free Trade [The New York Times via] (CNBC) In paid speeches, Hillary Clinton said she “represented” and “had great relations” with Wall Street: Excerpts of Clinton's paid Wall Street speeches, released by WikiLeaks, show her cozy relationship with big banks (Salon) Hillary Clinton’s Wall Street Speeches Have Leaked. No Wonder She Didn’t Want Them to Get Out. (Slate)

Big Food Strikes Back: Why Did the Obamas Fail to Take On Corporate Agriculture? (The New York Times)

     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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