Friday, April 28, 2017

Friday roundup (04-28-2017)

As Macron's lead narrows [in France], voter abstention threatens to swing in Le Pen’s favour (CNBC)

U.S. first quarter growth weakest in three years as consumer spending falters (Reuters)

Senate passes stopgap funding bill to avert shutdown (The Hill) Congress just dodged a government shutdown. Here’s what comes next. (The Washington Post)

Trump says he thought being president would be easier than his old life (Reuters) What We’ve Learned 100 Days In: The Trust Deficit Is the Core Problem: The narcissism and paranoia are issues, but the biggest concern is that Donald Trump trusts no one. This will be his downfall—or maybe ours. (The Daily Beast) 100 days in, Howard Stern was 100% right about Donald Trump [includes some partially censored vulgarity] (CNNMoney)

Donald Trump’s First 100 Days: The Worst on Record (The New York Times) [versus] Trump: My first 100 days 'just about the most successful' ever (The Hill)

Tillerson Seeking 9% Cut to U.S. State Department Workforce, Sources Say (Bloomberg) Tillerson in No Rush to Fill Nearly 200 State Department Posts (The New York Times)

Trump aims to expand US offshore drilling, despite low industry demand (Reuters) Newest Trump order targets Obama’s marine sanctuaries for possible oil drilling (McClatchyDC)

Trump Tells N.R.A. Convention, ‘I Am Going to Come Through for You’ (The New York Times)

First NBC Bank closes; Whitney Bank to take over branches (NOLA) First NBC Bank of New Orleans LA had a troubled assets ratio of 82.7 percent. (BankTracker)

     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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