Wednesday, February 22, 2017

Wednesday roundup (02-22-2017)

EU orders Italy to tackle debts or face SANCTIONS as deficit reaches ALL TIME HIGH: BRUSSELS has threatened to hit Italy with stinging sanctions if the beleaguered country doesn't implement unpopular austerity measures. (The Express)

Italian banks struggle to break free from soured debt cycle (Reuters)

Greece will need a fourth bailout due to unsustainable debt pile says former finance minister (The Telegraph)

‘Spain is RUINED FOR 50 YEARS’ Economist predicts crisis and slams ECB over ‘crazy’ loans: A LEADING Spanish economist has hit out at the European Central Bank (ECB) saying "crazy" loans will ruin the lives of the population for the next 50 years. (The Express)

[United States] Homeland Security unveils sweeping plan to deport undocumented immigrants (USAToday) Trump Plan: Deport to Mexico Immigrants Crossing Border Illegally, Regardless of Nationality: The idea is part of a raft of immigration proposals signed by Homeland Security Secretary John Kelly that are likely to spur international and legal challenges. (ProPublica)

Thousands of emails detail EPA head’s close ties to fossil fuel industry (The Washington Post)

McDonald's to Cut Prices on Drinks as Industry Slumps [= deflationary trend] (Bloomberg)

Lowe's announces 525 layoffs; [of these,] 430 [are] at corporate office in Mooresville (WSOC)

     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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