Wednesday, April 12, 2017

Wednesday roundup (04-12-2017)

Europe risks nightmare as anti-euro 'Bolshevik' storms France by Ambrose Evans-Pritchard [preview; full article behind paywall] (The Telegraph)

Greece bailout hangs in the balance: IMF still refusing to join ahead of looming deadline: GREECE's eurozone creditors are still at loggerheads with the International Monetary Fund (IMF) over proposed economy reforms for the debt-stricken countries, Christine Lagarde confirmed today. (The Express) IMF still mulling over joining Greek bailout: IMF chief Christine Lagarde says they have yet to decide whether to join the next bailout payment for Greece. The fund's participation is seen as a condition for Germany to unblock new funds to the debt-riddled country. (DeutscheWelle)

White House budget director says Trump promise to eliminate [United States] debt was just ‘hyperbole’: Don’t take Trump seriously or literally. (ThinkProgress)

U.S. government posts $176 billion deficit in March [versus $108 billion in March 2016] (Reuters)

White House calls for deep agency cuts (Politico) Trump’s Directive Will Lift Hiring Freeze, as It Asks Agencies for Cuts (The New York Times)

Trump's stunning u-turns on NATO, China, Russia and Syria (CNN)

In a Major Reversal, Pres. Trump Says NATO is ‘No Longer Obsolete’: Standing next to NATO’s secretary general Wednesday, the president backed away from his common campaign trail assertion that NATO was obsolete. (NBC Nightly News)

Trump says Russia relations may be at ‘all-time low,’ praises Tillerson trip (FoxNews) U.S.-Russia relations, trust ‘at a low point,’ says Tillerson in Moscow: Discord was on display at Secretary of State Rex Tillerson's Moscow meetings with Russian Foreign Minister Sergey Lavrov. The most immediate trigger for tensions was a deadly sarin gas attack in Syria, and the U.S. attack on a Syrian air base. Lavrov gave no ground on issues of Syria, Ukraine or Russian meddling in the U.S. election. Chief foreign affairs correspondent Margaret Warner reports. (PBSNewshour)

Trump's border wall will get its start in San Diego County (The San Diego Union-Tribune)

     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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