Thursday, May 11, 2017

Thursday roundup (05-11-2017)

Bank of England leaves rates unchanged, lowers 2017 growth forecast (CNBC)

[In the United States,] Acting FBI director contradicts Trump White House on Comey, Russia probe (The Washington Post)

Inside Trump’s anger and impatience — and his sudden decision to fire Comey (The Washington Post)

Trump is the dupe in Russia photo op (CNN) Russian State Media Get Access To White House Meeting While U.S. Press Kept Out: “It’s unprecedented,” says NBC’s Andrea Mitchell. (The Huffington Post) Trump Official: We ‘Let the Biggest Perpetrator of Fake News into the Oval Office’: Team Trump is “either in bed with the Russians or too stupid to understand the severity of this mistake,” an official fumed after Kremlin press got exclusive Oval Office access. (The Daily Beast) Here’s how the Russians might have snuck a recording device into the Oval Office (The Washington Post)

[Asked why Flynn stayed 18 days on the job after warnings,] Trump said firing Flynn 'did not sound like an emergency' (CNN)

20 attorneys general call for independent investigation on Russia (The Hill)

More bad news for Trump: His poll numbers just hit a bunch of new lows (The Washington Post)

Trump Plan to Shift Trillions to the Rich Surprisingly Unpopular: Sad! (VanityFair)

BT to restructure Global Services [by cutting 4,000 jobs] after 'challenging year' (Reuters)

Siemens to cut 1,700 German jobs in efficiency drive (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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