Wednesday, November 9, 2016

Wednesday roundup (11-09-2016)

EU Slashes Growth Forecasts (Bloomberg)

EU Commission forecasts Italy to break deficit, debt targets (Reuters)

Spain's new government struggles to draw line under political paralysis (Reuters)

Trump's Election Gives Hope to Europe's Far Right (National Public Radio) Le Pen Says Trump Victory Bodes Well for Election in France (Bloomberg)

Islamist extremists celebrate Trump’s election win (The Washington Post)

Donald Trump's victory is nothing short of a revolution: An era that stretches back to Roosevelt has come to an end. America’s lawmakers must resist falling into line, and challenge the new administration at every turn (The Guardian) Donald Trump Is Elected President in Stunning Repudiation of the Establishment (The New York Times) AN AMERICAN TRAGEDY (The New Yorker)

Q&A: What does Donald Trump’s Presidential victory mean for the economy? (The Telegraph)

U.S. Faces a Startling New Political Reality After Donald Trump’s Victory (The New York Times) Trump Confounds The Pros, Connects With Just The Right Voters (National Public Radio) How Trump won: The revenge of working-class whites (The Washington Post blogs) Six reasons why Donald Trump won the White House (The Sacramento Bee) Donald Trump’s election spells doom for Barack Obama’s legacy (Quartz)

Here Is What Donald Trump Wants To Do In His First 100 Days (National Public Radio) Trump election raises big questions for ObamaCare, immigration, Supreme Court (FoxNews) Factbox: Top goals for President Trump, hurdles in front of him (Reuters)

Republicans keep control of Congress (CNN) Democratic Party in crisis: ‘It could get worse before it gets better,’ says one senior Dem aide. (Politico)

GM to lay off 2,000 workers at two U.S. plants due to slowing sales (Reuters)

Lloyds Banking Group to close 49 branches and cut 665 jobs: Mobile vans being launched to visit affected communities but unions say reductions will have impact on customers (The Guardian)

     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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