Thursday, February 23, 2017

Thursday roundup (02-23-2017)

IMF warns against pretending 'unpayable debts' can be paid (Agence France Presse)

How France scrapping the euro could go beyond a ‘Lehman moment’ (CNBC)

Saudi Arabia Shrugs Off Concerns About Deflation, Despite Weak Outlook For Economy (Forbes)

U.S. financial regulators meet next week, discuss systemically important firms (Reuters)

Boehner: Republicans won't repeal and replace Obamacare: 'They’re basically going to fix the flaws and put a more conservative box around it,' Boehner said. (Politico)

Trump attack on press is 'biggest threat to democracy' says ex-Navy Seal chief: To the president they are ‘the enemy’ but William McRaven, an architect of the Bin Laden raid, called the media the republic’s ‘single most important institution’ (The Guardian) Retired Navy admiral: Trump's remark about media 'the greatest threat to democracy' (The Hill blogs)

Bannon Talks Pres. Trump's 'Economic Nationalist Agenda': In a rare public appearance, top Trump adviser Steve Bannon talked to the CPAC audience about the early days in the Trump White House. He was joined by Chief of Staff Reince Priebus. (NBCNews)

How Steve Bannon helped bring a nationalist, populist agenda to the White House (PBSNewshour)

Trump has a problem: Americans increasingly think he's incompetent (The Business Insider) [McClatchy-Marist] Poll: Majority finds Trump 'embarrassing' (The Hill)

Quinnipiac poll: Trump approval hits new low (The Hill blogs) Poll: Trump's approval rating continues to dip (CNN)

[Quinnipiac] Poll: Majority of voters oppose border wall, ObamaCare repeal (The Hill)

America’s utterly predictable tsunami of pension problems by George F. Will (The Washington Post)

Alan Greenspan: Ron Paul Was Right About The Gold Standard (ZeroHedge blog)

Board: Puerto Rico to Be Hit With Painful Austerity Measures: The newly appointed head of a federal control board that oversees Puerto Rico's finances is warning the U.S. territory will be hit with painful austerity measures in upcoming months. (The Associated Press) Puerto Rico Governor Says Years Needed to Fix Island Budget (Bloomberg)

     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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