Friday, May 26, 2017

Friday roundup (05-26-2017)

Greece on track to reach a deal with creditors within 3 weeks, IMF official says (CNBC)

[United States President Donald] Trump’s views on climate are ‘evolving,’ aide says, amid pressure from Europeans (The Washington Post) As he wraps up his first international trip, a White House adviser said Pres. Trump’s views on climate change have evolved during the G-7 summit, and that the administration is looking to get tougher on Russia. (NBC Nightly News)

In shakeup, Trump to set up 'war room' to repel attacks over Russia probe (Reuters) Steve Bannon to head Trump's Russia war room of legal 'A-Team,' street fighters and surrogates (FoxNews) Lawyers may start vetting Trump's tweets, as White House reportedly considers strategy shift (CNBC)

State of Illinois Closes Fayette County Bank in St. Elmo: IDFPR Director Sites Operations of an Unsafe and Unsound Nature (WJBD) Fayette County Bank of Saint Elmo IL had a troubled assets ratio of 207.7 percent. (BankTracker)

     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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