Wednesday, April 5, 2017

Wednesday roundup (04-05-2017)

Greece Says a Deal on Unfreezing the Bailout Is Close: Top Greek and European officials indicated Wednesday that a breakthrough in the country's dragging bailout talks can be achieved in two days' time, although Greece's prime minister pressed for a special Eurozone summit if the deal fails to materialize. (The Associated Press) Greece pushes for emergency eurozone summit if creditor talks stall: Differences stem from implementation of labor reforms, pension cuts and tax increases [The Wall Street Journal via] (Marketwatch)

Half of American working families are living paycheck to paycheck: Recession-era debt and stagnant wages are a bad combination (Marketwatch)

Bannon removed from National Security Council role (CNN) Bannon ousted from National Security Council: The Trump administration initially faced a bipartisan wave of complaints over a political official serving in a national security role. (Politico) Don’t Read Too Much Into Steve Bannon Losing His NSC Seat (Newsweek)

     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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