Thursday, December 8, 2016

Thursday roundup (12-08-2016)

ALBERT EDWARDS: Here's 'one of the scariest charts I have seen for a very long time' (The Business Insider)

E.C.B. Extends Bond-Buying Program to Protect Eurozone Economy (The New York Times) Draghi’s Anti-Taper Keeps ECB Stimulus Live to Tackle 2017 Risks (Bloomberg) Europe's comfort blanket is being pulled away by Ambrose Evans-Pritchard (The Telegraph)

Italy asks ECB for more time to save troubled BMPS: Report (CNBC)

Pope warns media over 'sin' of spreading fake news, smearing politicians (Reuters)

[In the United States,] Fed Officials Leaning Toward Bigger Is Better on Balance Sheet (Bloomberg) Artificial Abundance, Moral Hazard and the Federal Reserve's Doomsday Machine by Charles Hugh Smith (of two minds blog)

Donald Trump Chooses Fast-Food CEO To Be His Labor Secretary: The man who’s helmed Hardee’s and Carl’s Jr. could become the nation’s top workplace watchdog. Best of luck, Fight for $15. (The Huffington Post) 6 Things to Know About Andrew Puzder, Trump's Expected Pick for Labor Secretary: He's written anti-abortion legislation in Missouri and opposes a large bump in the minimum wage. (Cosmopolitan)

All the President-Elect's Generals: Why has Trump shown such eagerness to select former military brass for his Cabinet? The reasons may be both pragmatic and political. (The Atlantic)

Donald Trump will remain EP on 'Celebrity Apprentice' (CNNMoney)

Chicago school board approves revised budget with $215 million hole (Reuters)

U.K.’s Capita to Sell Units, Cut 2,000 Jobs as Brexit Weighs (Bloomberg)

     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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