Thursday, November 17, 2016

Thursday roundup (11-17-2016)

Europe at risk of collapse; France, Germany must lead - French PM (Reuters)

Who rules? Euro zone budget tensions surface (Reuters) Italy won't bend budget plan for EU, says Renzi advisor (Reuters)

EU bail-in inappropriate for systemic banking crisis: Juncker aide (Reuters)

THE EU’S MELTDOWN OVER TRUMP: European leaders fear a similar revolt of ‘deplorables’ over here. (spiked) Trump ideology may be echoed in fractured EU: Cohesion of European Union to face pressure in looming elections and referendums (The Irish Times)

Yellen: Rate hike [in the United States] 'appropriate relatively soon,' cites dangers in waiting (CNBC)

If Trump and Republicans dismantle Dodd-Frank, they’ll have many more problems to solve [Editorial] (The Washington Post)

After Running On Economic Populism, Republicans Want To Destroy The Consumer Financial Protection Bureau [proposed and established by Elizabeth Warren]: Business groups and congressional Republicans have yet to get the memo on Donald Trump’s swamp-draining agenda. (The Huffington Post) Americans could lose this important consumer watchdog under Donald Trump [Nov. 11] (The Washington Post)

Shortfalls grow for the insurance fund protecting millions of pensions (The Washington Post)

Falling food prices, warm weather hurt Wal-Mart sales (Reuters)

Pennsylvania government goes deeper in debt to treasury [= another $600 million] (The Associated Press)

AOL is laying off 500 employees in a restructuring with focus on mobile, data and video: There will be more changes next year if the deal to buy Yahoo is completed. (recode)

     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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