Tuesday, May 2, 2017

Tuesday roundup (05-02-2017)

Alitalia Files for Bankruptcy, but Italy Balks at a Third Bailout (The New York Times)

Italy Is Europe's Next Big Problem (Bloomberg)

Greece Agrees to New Bailout Terms _ and More Austerity: Greece and its creditors have reached an agreement on the terms to restart bailout loan payouts to help keep the country's debt-laden economy afloat, following months of tough negotiations. (The Associated Press) Greece will avoid default after bailout deal – but faces more austerity: Unions vow strike action after leftist-led government agrees to further slash pensions and cut tax breaks (The Guardian)

Trump raises prospect of government shutdown to leverage better budget for GOP in fall (The Washington Post) President Trump Wants a Government Shutdown: Upset with a budget deal that shortchanges his priorities, he chooses pugnacity over deal making. (The Atlantic) Trump, in Wake of Deal to Avoid a Shutdown Now, Calls for One Later (The New York Times) GOP senators reject Trump's call to end the filibuster: ‘Our country needs a good “shutdown” in September to fix mess!’ Trump tweets. (Politico)

Outlook for Obamacare repeal turns bleak: House Republicans are increasingly pessimistic they can pass any bill. (Politico) Republican Loyalists Are Dooming the Obamacare Repeal Bill: For the second time, GOP leaders have lost the support of a key House veteran for the American Health Care Act at a critical juncture. (The Atlantic)

Senate confirms Trump’s pick to lead SEC, signaling new era (Politico)

Trump Order May Open California’s Giant Sequoia Nat’l Monument To Development (CBS SFBayArea)

Engie plans to cut 1,900 jobs in France over 2016-19 period: CGT union (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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