Tuesday, March 14, 2017

Tuesday roundup (03-14-2017)

A Mountain of Debt: Is China's Economy Going To Crash? (The National Interest)

Trump's plan to dismember [the United States] government (CNN) Trump budget expected to seek historic contraction of federal workforce (The Washington Post)

White House Seeks to Cut Billions in Funding for United Nations: U.S. retreat from U.N. could mark a “breakdown of the international humanitarian system as we know it.” (Foreign Policy)

Trump loyalists sound alarm over ‘RyanCare,’ endangering health bill (The Washington Post)

White House analysis of Obamacare repeal sees even deeper insurance losses than CBO: The executive branch analysis forecast that 26 million people would lose coverage over the next decade, versus the 24 million CBO estimates. (Politico)

Top 0.1% of earners would get a $207,000 tax cut under GOP plan to repeal Obamacare (CNBC)

When It Comes to Wall Street, Preet Bharara Is No Hero: The prominent U.S. attorney fired by Donald Trump this weekend has been justly acclaimed for his pursuit of political corruption. But his treatment of the Wall Street executives involved in the financial meltdown was far less confrontational. (ProPublica)

     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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