Wednesday, October 19, 2016

Wednesday roundup (10-19-2016)

Ireland’s debt still over €200bn despite fall in borrowing: CSO figures show Government ran a deficit of €1.27bn in first half of 2016 (The Irish Times)

Fed risks repeating Lehman blunder as US recession storm gathers by Ambrose Evans-Pritchard (The Telegraph)

Report: State public pension unfunded liabilities soar to $5.6 trillion (Watchdog)

Wall Street Is Starting to Talk About a Big Democratic Sweep in November: Will division in D.C. take a breather? (Bloomberg)

Elizabeth Warren's star is rising. Wall Street is worried (CNNMoney) Maybe Trump Won't Be Clinton's Biggest Problem (Bloomberg)

Everything We Know About the Latest James O’Keefe Video Sting (Time)

[UK building merchant] Travis Perkins to cut 600 jobs as plumbing slowdown prompts profit warning (The Telegraph)

[Canadian energy delivery company] Enbridge cutting 530 jobs in attempt to spur growth (The Globe and Mail of Toronto)

     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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