Friday, March 17, 2017

Friday roundup (03-17-2017)

Europe is worried about Trump’s plans to de-regulate banks (CNBC)

House leaders [in the United States Congress] set Obamacare repeal and replace vote for Thursday (CNN) Trump OKs changes in GOP health care bill, winning support (The Washington Post) Trio of GOP proposals would overhaul Medicaid dramatically, starting with job requirement (The Washington Post)

Trump Reverses Obama-Era Protections on Student Debt: This clears the way for debt agencies to charge higher fees on overdue loans. (The Atlantic)

List of the 138 JC Penney stores that are closing (The Associated Press)

Alitalia to cut 2,037 jobs, reduce flight crew pay in latest revamp: unions (Reuters) Alitalia faces strikes as layoffs loom: Alitalia has said it will face extensive strike action in April. The cash-strapped airline will see protests against a series of slated savings measures involving thousands of job cuts and hefty wage reductions. (Deutsche Welle)

     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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