Wednesday, January 11, 2017

Wednesday roundup (01-11-2017)

U.S. indicts six as Volkswagen agrees to $4.3 billion diesel settlement (Reuters)

Trump says won't divest from his business while president (Reuters) How Trump Misled America About His Plans for His Companies: President-elect's press conference showed there will be no blind trust, and there will be new deals (Rolling Stone) Government ethics chief blasts Trump over plans for business (CNNMoney) Trump’s presser was remarkable. It means we’re heading into truly uncharted territory. (The Washington Post blogs)

Is Trump Draining the Swamp or Filling It? by Martin Armstrong (Armstrong Economics blog)

Seagate to cut more than 2,000 jobs in China (Reuters)

Wal-Mart to Cut Nearly 1,000 Corporate Jobs This Month -- WSJ (Dow Jones Newswires)

     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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