Friday, February 24, 2017

Friday roundup (02-24-2017)

Global sovereign debt to hit new all-time high - S&P (Reuters)

Citi sees a 20% chance of Le Pen winning which could 're-ignite a fully-fledged sovereign debt crisis' (CNBC) Marine Le Pen: Madame Présidente?: The far-right candidate leads in French polls, but her challenges may prove insurmountable. (The Atlantic)

Greece's Tsipras: the era of austerity is over (The Associated Press)

RBS reports net loss of $8.7 billion for 2016, its ninth straight year without a profit (CNBC)

[United States President Donald] Trump tells conservatives he is future of GOP (The Hill)

No president has ever waited this long to get a Cabinet approved (CNBC)

Trump wants to make sure U.S. nuclear arsenal at 'top of the pack' (Reuters)

Trump establishes task forces to eliminate ‘job killing regulations’ (The Washington Post) The high cost of cutting regulatory costs (The Chicago Tribune)

Bannon vows a daily fight for ‘deconstruction of the administrative state’ (The Washington Post)

White House goes to war with the media: Trump and his aides have dramatically escalated their feud with news outlets, blocking reporters from a briefing and promising to ‘do something’ about unfriendly outlets. (Politico) White House Bars Times and Other News Outlets From Briefing (The New York Times) White House blocks CNN, New York Times from press briefing hours after Trump slams media (The Washington Post)

J.C. Penney to close 130-140 stores, offers 6,000 workers early retirement (Dallas News)

     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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