Wednesday, March 1, 2017

Wednesday roundup (03-01-2017)

In Europe, the north is doing well and the south is doing badly – Italy now poses a bigger threat to the eurozone than Greece: Germany continues to create jobs not just for itself but for the rest of Europe. Spain looks set to be the fastest growing of the larger eurozone economies this year – whereas Italy is projected to be the slowest. Italy has barely grown since the euro was introduced in 1999 (The Independent)

Italy grows slightly more than forecast in 2016 but debt hits new peak (Reuters)

[In the United States,] Trump pivot [toward sounding presidential] pleases GOP, but will it last? (The Associated Press) Six things Trump didn’t say in his address to Congress: Missing were many staples of a Trump speech along with many of the things we have come to expect from the president's annual speech to Congress. (Politico)

Three words — radical Islamic terrorism — expose a Trump administration divide (The Washington Post)

Debt-plagued U.S. Postal Service eyes bipartisan bill to solve woes (USAToday)

China Plans to Cut 500,000 Jobs This Year in Smokestack Sectors (Bloomberg)

Fidelity offers buyouts to 3,000 older workers: Employees who are at least 55 years old and have been with the firm for at least 10 years are eligible [The Wall Street Journal via] (Marketwatch)

San Diego Unified cuts 850 jobs to balance budget (The San Diego Union-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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