Friday, January 27, 2017

Friday roundup (01-27-2017)

Greece’s Tsipras Insists on ‘Not One Euro More’ of Austerity (Bloomberg) This could be Greece’s last chance to save itself (CNBC) IMF says Greece debt 'explosive' in long term (Agence France Presse)

Germany Sees Monte Paschi Bailout Eroding Bank-Failure Rules (Bloomberg)

Trump's executive order suspends the entry of Syrian refugees into U.S. (USAToday) Trump signs executive order to keep out 'radical Islamic terrorists' (CNN) Council on Islamic-American Relations to sue over Trump 'extreme vetting': The advocacy group says Trump’s executive order, which has prompted swift criticism, has an ‘underlying motive to ban people of the Islamic faith’ (The Guardian)

Trump, Mexican president agree to not debate wall in public (The Hill) President Trump and Mexican president speak by phone amid crisis in relations (The Washington Post)

McConnell to Trump: Do not lift sanctions on Russia: The president's phone call with Vladimir Putin Saturday threatens to strain his relationship with congressional Republicans. (Politico)

Behind closed doors, Republican lawmakers fret about how to repeal Obamacare (The Washington Post)

Trump and the Republicans Are on a Suicide Mission Together: And we'll all have to live with the fallout. (The New Republic)

Dallas Police, Fire Pension Reaches Boiling Point (NBC DFW)

Seaway Bank sold to State Bank of Texas in FDIC-brokered deal (The Chicago Tribune) Seaway Bank and Trust Company of Chicago IL had a troubled assets ratio of 178.2 percent. (BankTracker)

     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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