Friday, February 3, 2017

Friday roundup (02-03-2017)

Grexit? Greece again on the brink as debt crisis threatens break with EU: Country faces critical few weeks as it struggles to meet bailout conditions and pressures rise in Germany and US (The Guardian)

Vegetable rationing imposed on UK supermarkets (CNBC)

First Trump approval rating lags behind past presidents [of the United States] (CNN)

40 per cent of American voters want to impeach President Donald Trump: The public is also yearning for former President Barack Obama, pollsters discover (The Independent) Most Americans Disapprove of Trump — and His Executive Orders (New York)

Bush-appointed [federal] judge halts Trump travel ban nationwide (The Hill blogs)

Sen. Warren goes at Trump for financial rules rollback: 'We're finding out whose side he's really on' (CNBC) Populism, Goldman Sachs-Style: Trump's executives orders deregulating Wall Street show he has no interest in protecting working Americans. (US News & World Report) Trump Just Declared Open Season on Suckers: The president is framing his deregulation plan as a way for consumers and bankers to enjoy more freedom. Because, you know, that worked so well the last time around. (The Daily Beast) [versus] Here's what everybody is getting wrong about changes to banking rules (CNBC)

The Fed's New Mission: Never Mind Financial Stability, Promote American Banks (Forbes) Congressman says Fed's involvement in international meetings is 'unacceptable' (CNBC)

Trump still spent campaign money on personal properties post-election (CNN)

Presidents have been signing executive orders since George Washington was in office. How do Trump's stack up? (The Los Angeles Times)

How to Build an Autocracy: The preconditions are present in the U.S. today. Here’s the playbook Donald Trump could use to set the country down a path toward illiberalism. (The Atlantic) ["David Frum ... was a speechwriter for President George W. Bush."] (The Atlantic)

Deutsche Bank to Cut [9,000 jobs in] Equities and Fixed Income Trading Staff (Bloomberg)

Manitoba Hydro cutting 900 jobs in 'necessary first step' (The Winnipeg Free Press)

     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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