Wednesday, April 26, 2017

Wednesday roundup (04-26-2017)

[In the United States,] White House Proposes Slashing Tax Rates, Significantly Aiding Wealthy (The New York Times) Trump tax plan gets lukewarm welcome on Capitol Hill (Politico) Trump tax cut sounds great but markets are skeptical it would send interest rates flying (CNBC)

Donald Trump’s Massive Corporate Tax Cut Literally Cannot Pass Congress (Slate blogs)

Republican Bid to Gut Dodd-Frank Renews the Debate About Breaking Up the Banks (Bloomberg) Republicans launch effort to roll back the Dodd-Frank banking regulations (The Washington Post)

Ignoring Glass-Steagall, A Policy for Disaster (Daily Reckoning)

Republicans finalize new Obamacare repeal proposal: The plan is expected to win more support from the conservative Freedom Caucus, but it’s still unclear whether the bill can pass the House. (Politico) Hard-Line Republican Caucus Backs Revised Bill to Repeal Obamacare (The New York Times) Moderates chafe at Republican health care compromise: Tuesday Group lawmakers are wary of a deal one of its members cut with the Freedom Caucus, casting doubt about whether it can pass the House. (Politico)

F.C.C. Chairman Pushes Sweeping Changes to Net Neutrality Rules (The New York Times) FCC head unveils plan to roll back net neutrality (The Hill) Sen. Schatz on FCC: ‘They have no idea how outraged people are about to be’ (TechCrunch)

Trump to issue new order calling into question two decades of national monument designations (The Washington Post)

Australia's sky-high household debt a ticking time bomb (Agence France Presse)

     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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