Thursday, February 2, 2017

Thursday roundup (02-02-2017)

World growth caught between debt and a hard place: Grim prospects without strong growth and high inflation by Satyajit Das (Marketwatch)

Portugal’s state debt rises by 9.5 billion euros in 2016 (Macauhub)

[In the United States,] Trump Twitter Bursts Throw Decades-Old Alliances Into Chaos (Bloomberg) Trump's calls and tweets on foreign policy are threatening rivals, allies (USAToday)

A Jeffersonian for the Supreme Court: Neil Gorsuch’s record suggests a willingness to transform the law and to enforce constitutional limitations on the excesses of Congress and the president. (The Atlantic)

Trump said he’ll ‘totally destroy’ the Johnson Amendment. What is it and why should people care? (The Washington Post) Don't listen to the complainers on the religious right. We need the Johnson Amendment (The Los Angeles Times)

Leaked Draft of Trump’s Religious Freedom Order Reveals Sweeping Plans to Legalize Discrimination: If signed, the order would create wholesale exemptions for people and organizations who claim religious objections to same-sex marriage, premarital sex, abortion, and trans identity. (The Nation)

Trump to focus counter-extremism program solely on Islam - sources (Reuters)

‘Not the America I know’: George W. Bush’s daughter wants you to remember his speech on Islam (The Washington Post)

Will Trump break up the big banks? (CNNMoney)

Federal workers turn to encryption to thwart Trump: Agency employees are turning to Signal and other incognito forms of communication to express their dissent. (Politico)

Fitch downgrades Illinois rating by one notch to BBB and says it may downgrade again (Marketwatch)

Pa. school administrators say cash-strapped districts are 'treading water' [= "estimated deficit of $2.8 billion"] (The Philadelphia Inquirer)

Puerto Rico Defaults on Multimillion-Dollar Debt Amid Crisis (The Associated 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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