Monday, January 30, 2017

Monday roundup (01-30-2017)

EU watchdog calls for EU bad bank to tackle soured loans (Reuters)

IMF gives bad marks to eurozone: The eurozone has a large record of excessive borrowing, rigged budget figures and disrespect for EU fiscal rules, a fresh working paper by the IMF has said. It looked at the past two decades of the bloc's development. (Deutsche Welle)

Why 2017 Could See the Collapse of the Euro by Joseph E. Stiglitz (Fortune)

Greece 'has three weeks to make austerity deal or faces explosive debts': 'We could be looking at potentially disastrous political turmoil, which would bring back the scenario of Grexit with a vengeance,' says economic expert (The Independent) Not again? Why Greece could be on track for another bailout (CNBC) New euro zone loans to Greece hinge on IMF participation in bailout: ESM (Reuters)

Spain should deepen structural reforms: IMF (Reuters)

Kuwait projects $25.9 billion budget deficit next fiscal year (Reuters)

In a Week, Trump Reshapes Decades of Perceptions About America (The New York Times)

Trump signs '2-for-1' order to reduce regulations (The Hill) Trump wants to scrap two regulations for each new one adopted (The Washington Post)

Trump: We will do a 'big number' to Dodd-Frank (The Hill)

Trump’s Not Draining the Swamp—He’s Filling It: Under President Trump, banking sharks will once again have immense influence on the American economy. by Nomi Prins (The Nation)

Trump transition leader’s goal is two-thirds cut in EPA employees (The Washington Post) Green movement 'greatest threat to freedom', says Trump adviser: Climate-change denier Myron Ebell says he expects Trump to withdraw the US from the global climate change agreement (The Guardian)

Donald Trump, Stephen Bannon and the Coming Crisis in American National Life ["an 80-year cycle in American history" is posited] (Time)

Republican-led Congress starting to worry about its role in the Trump era (The Los Angeles Times) Top Republicans left in dark about Trump’s travel ban (The Hill)

Koch network could serve as potent resistance in Trump era (The Washington Post)

Trump's state department purge sparks worries of 'know-nothing approach' to foreign policy: The sudden dismissal of several senior officials has left a gaping hole at the heart of US diplomacy: ‘The machinery is still there, but no one’s in the cockpit’ (The Guardian)

Jewish Republicans chide Trump on Holocaust statement (Politico) #NeverAgain: Never before has there been a debate in the country about what we remember on Holocaust Remembrance Day. Never again should it happen. (Medium)

Deutsche Bank to pay $425 million fine over Russian money-laundering scheme: New York regulator (CNBC) Deutsche to pay $425 million to New York regulator over Russian 'mirror trades' (Reuters)

     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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