Saturday, May 20, 2017

Saturday roundup (05-20-2017)

Greece in fresh plea for debt relief (The Times of London)

Budget deficit [in the UK] to rise as economists predict failure in battle to balance books (The Telegraph)

China's economy loses momentum as policymakers clamp down on debt risks (Reuters)

[In the United States,] Trump-Russia Probe Now Includes Possible Cover-up, Congress Is Told (McClatchy Washington Bureau) Russia meeting revelation could trigger obstruction investigation: President Donald Trump’s Oval Office boast to Russian officials will almost certainly prompt a more immediate legal development. (Politico)

Sources: White House lawyers research impeachment (CNN)

White House looking at ethics rule to weaken special investigation: sources (Reuters) The President’s Power to End a Criminal Investigation (National Review)

Trump told aides firing Flynn was a mistake: The president has grown obsessed with defending the tough-talking 58-year-old general, repeatedly telling aides and associates in private that Flynn was a 'good man.' (Politico) [Meanwhile] Russian officials bragged they could use Flynn to influence Trump, sources say (CNN)

Donald Trump's son-in-law Jared Kushner 'person of interest in Russia investigation': A former FBI Director is heading the probe (The Independent)

‘People Here Think Trump Is a Laughingstock’: On the president’s ill-timed world tour. (Politico)

Nation on the Verge of a Nervous Breakdown: A self-destructive president pushes Washington to the edge [editorial in conservative journal] (The Washington Free Beacon)

Tips for Leaders Meeting Trump: Keep It Short and Give Him a Win (The New York Times)

Student Debt’s Grip on the Economy [Editorial] (The New York Times) More Baby Boomers Are Drowning In Student Loan Debt–And No One Knows How Bad It Will Get: It’s not just a millennial problem. Student loan debt increased eightfold among Americans aged 60-64 in the last decade. Is anyone paying attention? (FastCompany)

A record 107 million Americans have car loans (CNNMoney)

     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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