Monday, May 22, 2017

Monday roundup (05-22-2017)

Eurozone WILL shrink and collapse: Shock report reveals what business leaders REALLY think: MORE than half of European business leaders expect the eurozone to shrink or collapse in coming years, according to a new report. (The Express)

Eurozone and Greece Fail to Agree Bailout Deal: The eurozone's top official says there has not yet been an agreement to give Greece the next batch of bailout cash it needs before a summer repayment bum. (The Associated Press) Euro zone ministers eye Greek debt deal with IMF, new loans decision in June (Reuters)

The Lights Are Going Out in the Middle East (The New Yorker)

[In the United States,] White House Moves to Block Ethics Inquiry Into Ex-Lobbyists on Payroll (The New York Times) Ethics Office Blasts Trump Refusal to Disclose Lobby Waivers: The Trump administration is pushing back on an effort by the Office of Government Ethics to force the disclosure of waivers issued to ex-lobbyists in the administration. (The Associated Press)

Trump asked intelligence chiefs to push back against FBI collusion probe after Comey revealed its existence (The Washington Post)

Flynn ‘Lied to Investigators’ About Russia Trip, Says Top House Dem (NBCNews) Chris Christie: I warned Trump about Flynn (CNN)

Leakers who revealed Israel as intelligence source did far more damage than Trump (The Washington Post)

Trump Drama Imperils GOP Legislative Agenda (NBCNews)

America's safety net is at risk from Trump's budget ax (CNNMoney)

Where Both the ACA and AHCA Fall Short, and What the Health Insurance Market Really Needs (The Harvard Business Review)

Loss-making Cathay Pacific makes biggest job cuts in 20 years [cutting 600 jobs] (Reuters)

     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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