Wednesday, February 8, 2017

Wednesday roundup (02-08-2017)

Worries Grow Over Euro’s Fate as Debts Smolder in Italy and Greece (The New York Times blogs) European debt crisis: It's not just Greece that's drowning in debt (The Telegraph)

‘There's NO STRATEGY’ Extraordinary outburst from Italy’s bailout boss amid banking crisis: THE CRISIS in Italy’s banking system hit new levels after the man picked by to heal the country’s financial woes admitted he was “disillusioned” and there was no plan to tackle the situation. (The Express)

Greece will CRUMBLE under debts - IMF's damning verdict on eurozone's austerity targets: TROUBLED Greece will buckle under the weight of its huge debts, which are highly unsustainable over the longer term, according to damning analysis of the eurozone's bailout by the International Monetary Fund (IMF). (The Express) Trump envoy says Greece is now more likely to leave the euro: Ted Malloch, proposed US ambassador to the EU, casts doubt on survival of eurozone and says Athens should return to drachma (The Guardian)

[United States] President Trump to Judges: Drop Dead: No president has ever sounded as authoritarian towards courts as this one. And with his next attorney general, he can do great harm to the independent judiciary. (The Daily Beast)

Supreme Court nominee Gorsuch says Trump’s attacks on judiciary are ‘demoralizing’ (The Washington Post) Supreme Court Nominee Calls Trump’s Attacks on Judiciary ‘Demoralizing’ (The New York Times)

Executive orders out of control no matter who occupies the White House: Whether it’s a Democrat or a Republican, a president overusing the executive order makes Congress irrelevant. [Editorial] (The Kansas City Star)

Illinois Faces Further Downgrades If Budget Deal Not Reached (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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