Thursday, April 20, 2017

Thursday roundup (04-20-2017)

IMF encourages banks to sack staff amid weakness due to 'legacy of bad debt': THE International Monetary Fund (IMF) is warning banks to get rid of their staff amid concerns over their assets. (The Express)

[In the United States,] White House could provoke a spending showdown over funding for border wall (The Washington Post) White House eyes harder line on shutdown talks: The push for tighter border security is risky and comes amid pressure for a win. (Politico)

Trump is trying to repeal Obamacare again, but he still doesn't have the votes (The Los Angeles Times) House Republicans near potential breakthrough on health care, source says (CNN) The GOP has a new plan to destroy Obamacare. It’s even crueler than the last one. (The Washington Post blogs) How Republicans could pass 'TrumpCare' this month (The Hill blogs) ObamaCare replacement deal hits major speed bumps (The Hill)

     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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