Wednesday, November 16, 2016

Wednesday roundup (11-16-2016)

EU Cracks Budget Whip Over Italy, Spain, France (Dow Jones Newswires) EU warns eight nations on budget deficit (The BBC)

Euro zone break-up fears back on the table with Italy expected to reject reforms (CNBC)

Germany rejects debt relief for Greece after Obama offers support (Reuters) Eurogroup to discuss debt relief for 'committed' Greece: Dijsselbloem (Reuters)

[In the United States,] Trump Team Continues to Prod JPMorgan’s Dimon to Accept Treasury Secretary Appointment (FoxBusiness) Billionaire investor Ross said to be Commerce pick (Politico)

Steve Bannon could be Wall Street's worst enemy (CNBC) This Is How Steve Bannon Sees The Entire World: The soon-to-be White House chief strategist laid out a global vision in a rare 2014 talk, one where he said racism in the far right gets “washed out” and called Vladimir Putin a kleptocrat. BuzzFeed News publishes the complete transcript for the first time. (BuzzFeed)

Fed's Kashkari unveils plan to tackle 'too big to fail' banks and funds (Reuters)

STATE OF ILLINOIS’ PENSION DEBT JUMPS TO $130 BILLION (Illinois Policy)

Illinois sees $13 billion bill backlog, $5 billion budget deficit in 2017 (Reuters)

State [of Connecticut] facing $1 billion budget deficit, but governor doesn’t expect big tax increases (Fox61)

First Solar to slash a quarter of workforce [= about 1,600 layoffs], expects $500 million in charges (Marketwatch)

Alarming Levels of Glyphosate Found in Popular American Foods (EcoWatch) Glyphosate: Unsafe on Any Plate (Food Democracy Now)

     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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