Monday, May 8, 2017

Monday roundup (05-08-2017)

Italexit could DESTROY Eurozone: Expert’s stark warning to EU amid rocky Italy relations: AN ITALIAN exit from the European Union would be "a shock for the entire eurozone” that would "threaten its survival", a top financial expert has warned. (The Express)

Divided Senate Republicans [in the United States] Turn to Health Care With a Rough Road Ahead (The New York Times) The Four Flagrant Lies Republicans Are Telling to Sell Trumpcare: GOP congressmen spent the weekend misleading the public about what will happen if the American Health Care Act becomes law. (The New Republic)

EPA dismisses half of key board’s scientific advisers; Interior suspends more than 200 advisory panels (The Washington Post)

Texas governor signs 'sanctuary cities' ban, but law enforcement leaders see problems ahead (The Los Angeles Times)

Puerto Ricans Face ‘Sacrifice Everywhere’ on an Insolvent Island (The New York Times) 5 facts about Puerto Rico's utter economic misery (CNNMoney) Puerto Rico's Fate Will Come Down to Decisions of a Single Judge (Bloomberg) Puerto Rico's debt crisis is a wake-up call. It could be crushed like Greece: Puerto Rico’s future is not in the hands of its people, but in the hands of a group of non-elected technocrats, that as such are not accountable to Puerto Ricans (The Guardian)

     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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