Wednesday, January 25, 2017

Wednesday roundup (01-25-2017)

Eurozone set for years of stagnation and crises as members drift apart, Moody’s fears (The Telegraph)

Eurozone CRISIS: Trump’s likely EU ambassador hints euro 'could FAIL' within 18 months: THE man tipped to be Donald Trump’s ambassador has warned that the European Union’s single currency “could collapse” as Brexit negotiations rumble on. (The Express) 'You CAN'T leave!' EU threatens France and Italy with MAMMOTH bill if they quit the euro: BRUSSELS has threatened Italy with an almost certainly unpayable bill if the country's citizens take the democratic decision to quit the troubled euro. (The Express)

Britain's national debt poised to hit £1.7trillion - with interest payments approaching £40bn a year (The Daily Mail)

[In the United States,] Trump Blocks Syrian Refugees and Orders Mexican Border Wall to Be Built (The New York Times) Donald Trump Declares War on Muslims: The president’s executive orders reveal his intent to fulfill his horrifying campaign promises. (Slate) Rights advocates slam Trump plans on Muslim immigrants, refugees (Reuters)

Trump says torture works as his government readies a review (The Associated Press) Trump Poised to Lift Ban on C.I.A. ‘Black Site’ Prisons (The New York Times) White House draft order calls for review on use of CIA ‘black site’ prisons overseas (The Washington Post)

Reports of Federal Government Agencies Directed Not to Communicate with the American Public (Sunlight Foundation)

Pension clock continues to tick [in Pennsylvania], unfunded liability tops $74B (WHTM)

     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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