Sunday, April 30, 2017

Sunday roundup (04-30-2017)

Budget deficit [in the UK] nearly $2bn worse than projected five months ago, report finds: Deloitte Access Economics report shows stagnant wages and lacklustre jobs growth will leave budget $1.7bn worse off than projected five months ago (The Guardian)

Trump's tax 'plan:' Amateur hour at the [United States] Treasury Department (The Hill blogs) David Stockman: Trump’s tax plan is ‘dead on arrival’ and Wall St. is ‘delusional' for believing it (CNBC)

Millennials owe a record amount of debt, and it could become a huge drag on the economy (The Business Insider)

April 2017: Unofficial Problem Bank list declines to 151 Institutions (Calculated Risk blog)

     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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