Monday, February 6, 2017

Monday roundup (02-06-2017)

Relaxing bank regulation is the last thing we need: ECB's Draghi (Reuters) Trump's Rule-Slashing Is Bad News for Europe's Banks (BloombergView)

This Is Marine Le Pen’s Plan to Break Up the Euro (Bloomberg) Draghi Says Euro Is Irreversible as Le Pen Urges French Exit (Bloomberg)

Le Pen's French debt plan would trigger default, S&P tells Economist [Feb. 4] (Reuters)

Portugal Is in a Fragile State, Group Warns: The Organization for Economic Cooperation and Development has warned Portugal that its fragile banks and high national debt make it especially vulnerable to events, such as a slump in world trade or financial jitters in Europe (The Associated Press)

[In the Unites States,] Trump and Staff Rethink Tactics After Stumbles (The New York Times) Trump didn’t know he was giving Bannon so much power until after adding him to security council: report (RawStory)

Danger: Financial Deregulation Is A Very Bad Idea (Forbes) Trump Set to Rollback Financial Regulation Passed After the 2008 Crisis: The Democrats have refused to challenge Clinton and Bush-era deregulation and explain the causes of the financial crisis to the public, says former financial regulator Bill Black (The Real News Network) Trump Set to Rollback Financial Regulation Passed After the 2008 Crisis (Youtube)

Trump's formidable foe on immigration: Corporate America (CNNMoney) Former top diplomats, tech giants blast immigration order as court showdown looms (The Washington Post)

The media botched this Trump story last week — and that’s bad for everyone (The Washington Post)

Stephen Bannon’s worldview is deeply troubling [The Philadelphia Inquirer via] (The Seattle Times) First on the White House agenda – the collapse of the global order. Next, war?: Trump’s allies yearn to wreck alliances that have kept the peace for decades. Progressives must preserve them (The Guardian)

US pension funds are slashing their forecasts...and some don't even think they'll meet those [Reuters via] (CNBC)

     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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