Friday, April 7, 2017

Friday roundup (04-07-2017)

Greek Bailout Talks Make Major Breakthrough on Reforms: Greece and its international creditors took a big step Friday toward an agreement that will ensure the country gets the money it needs to avoid a potential bankruptcy this summer but which could spell more pain for austerity-weary Greeks. (The Associated Press) [But] IMF needs euro zone assurance on Greek debt sustainability before joining bailout (Reuters)

[United States President Donald] Trump launches military strike against Syria (CNN)

Credit card debt hits $1 trillion as economy expands (CBSMoneywatch)

The retail sector is shedding jobs like it’s a recession (Marketwatch) Retailers cut tens of thousands of jobs. Again (CNNMoney)

Concerned about White House infighting, Trump eyes shake-up: WSJ (Reuters) Trump is reportedly considering a major staff shakeup amid a deepening rivalry between Steve Bannon and Jared Kushner (The Business Insider)

Kushner left Russian meetings off security clearance forms (The Hill)

Senate confirms Neil Gorsuch to Supreme Court (The Washington Post)

     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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