Wednesday, March 15, 2017

Wednesday roundup (03-15-2017)

Fears Greek and Italian lenders could COLLAPSE eurozone if money-printing is cut: ITALIAN and Greek lenders could topple Europe's financial system if the European Central Bank (ECB) pulls its mammoth money-printing programme, top monetary policymakers fear. (The Express)

[In the United States,] Fed raises rates as job gains, firming inflation stoke confidence (Reuters)

Just so you know: Total U.S. debt and other obligations now total $69 trillion (Canada Free Press)

Rising rates will speed up the clock on retail's $3.7 billion time bomb (CNBC)

More than 1 million borrowers defaulted on their student loans last year: The amount owed by federal student loan borrowers has grown 17% since 2013 (Marketwatch) Student loan defaults are rising faster than you think (The Washington Post)

'It's getting worse': An increasing number of Americans have stopped paying their car loans (The Business Insider)

Trump needs to do 'smart regulation,' not deregulation, former FDIC chair says (CNBC)

Basic Principles of Banking: Hoenig on Restoring Glass Steagall (The Big Picture blog)

Federal judge in Hawaii freezes President Trump’s new entry ban (The Washington Post) After judge blocks Trump's revised travel ban, president vows to 'fight this terrible ruling' (The Associated Press)

Trump hires his FIFTH Goldman Sachs exec with new Treasury hire (The Daily Mail) Donald Trump Isn’t Even Pretending to Oppose Goldman Sachs Anymore (The Intercept)

Who Leaked Part of Donald Trump’s 2005 Federal Tax Return? (The New Yorker) Did Donald Trump leak his own tax return? (CNN) Why leaking his own tax return would be a smart media play by Trump (The Washington Post)  Maddow's excessive hype is a win for Trump (The Hill blogs)

Plan to save S.C. pension [which is $24 billion in debt] would make local governments pay (WRDW)

E.ON to cut [1300] jobs to reduce debts after record 2016 loss (Reuters)

Citing ‘Difficult Environment,’ Senvion To Cut 780 Jobs (North American Windpower)

Gordmans plans nearly 600 layoffs in Nebraska, Indiana (The Associated Press)

     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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