Friday, March 31, 2017

Friday roundup (03-31-2017)

Tillerson sets NATO allies 2-month "goal" on spending (CBSNews) Secretary of State Rex Tillerson spends his first weeks isolated from an anxious bureaucracy (The Washington Post)

France’s presidential election may determine the future of the European Union (The Washington Post)

Germany urges EU to file WTO complaint against U.S. in steel row (Reuters) ‘We are in a trade war,’ Trump’s commerce secretary says after stern German warning (The Washington Post blogs)

[In the United States,] Republicans are so hopeless, Trump may have to work with Democrats (The Washington Post) Republicans 'Turn The Cannons On Each Other' In Week Of Public Feuding (National Public Radio)

Retail bankruptcies march toward post-recession high (CNBC)

Australia’s Toll Group to cut 1,700 jobs (The Financial Times)

Caterpillar to close Aurora plant, cut 800 jobs (The Chicago Tribune)

     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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