Tuesday, February 28, 2017

Tuesday roundup (02-28-2017)

Deutsche Bank warns SIX EU countries show warning signs of 'fiscal crisis': SIX European countries are showing early warning signs of fiscal crisis according to Germany's largest lender. [Article lists Belgium,  Italy, Portugal, Spain, and France, which make five] (The Express)

What to watch for in Trump’s address to [the United States] Congress (PBSNewshour) Republicans beg Trump for direction with Capitol Hill address: GOP lawmakers want guidance on how to handle Obamacare and tax reform. (Politico) New NSC chief pushed Trump to moderate his language on terrorism: What words the president uses from the podium tonight will give a hint about McMaster’s clout. (Politico)

Trump Says He’s Open to Legal Pathway for Undocumented Immigrants (The New York Times)

Fight over debt ceiling could accelerate Trump’s budget clash with GOP (The Washington Post)

President Trump's budget faces blowback for slashing State Department funds (ABCNews) Lindsey Graham: Trump Budget ‘Dead on Arrival’ in Congress: The South Carolina senator says certain cuts would put Americans at risk (US News & World Report) Top GOP chairman warns against Trump budget plan (CNN)

Trump Pinning Hopes on Economic Growth to Avoid Budget Cuts (The New York Times)

George W. Bush Breaks His Silence on the Direction of the Country Under President Trump: ‘I Don’t Like the Racism and Name-Calling’ (People)

Hershey To Cut Thousands Of Jobs Globally [= 15 percent of 20,650 full- and part-time employees] (Fortune)

Ford plans to cut 1,100 jobs at Bridgend factory - is Brexit to blame? (ITV)

Nearly 600 Penn State Employees Take Voluntary Retirement Package (CBS/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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