Saturday, May 6, 2017

Saturday roundup (05-06-2017)

How Trump's Property in Manila Looms Over His Interactions With Duterte: The president’s decision to invite the leader of the Philippines to the White House is another example of a gesture complicated by his business interests. [May 2] (The Atlantic) How Trump could boost fortune by making nice to brutal Filipino strongman: the value of White House invitation [May 2] (The New York Daily News)

Trump Weighing 95 Percent Cut to Drug Office, Chief Warns Staff (Bloomberg) White House dismisses concerns over steep potential cuts to "Drug Czar" office (CBSNews)

Billion Dollar Bank Failure – Guaranty Bank of Wisconsin Closed by Feds (Problem Bank List blog) [as posted here yesterday] Five Billion Dollar Bank Failure – First NBC Bank, New Orleans, Closed by Regulators (Problem Bank List blog) [as posted here last week]

     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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