Tuesday, May 9, 2017

Tuesday roundup (05-09-2017)

EU warns Macron over French budget deficit (euronews)

Greek debt relief 'closer than ever' but creditors must act, Greek prime minister says (Reuters)

[In the United States,] Trump fires FBI director James Comey (CNN) President Trump dismisses FBI Director Comey (The Washington Post) Comey firing: Reaction from members of Congress on FBI director’s dismissal (The Washington Post) What Kind of Country Is This, CNN Jeffrey Toobin, Pres Trump Fires Comey In Charge of Investigation (Youtube)

Senate Democratic leader Schumer calls for special prosecutor in Trump-Russia probe (CNBC)

Trump wants to revive a 1933 banking law. What that means is very unclear (CNNMoney)

Will Republican senators pass the GOP health-care bill? Here’s what they’re saying so far. (The Washington Post) Juan Williams: Republicans have just handed Democrats a huge political gift (FoxNews)

The Long, Hard, Unprecedented Fall of Sears: An icon of 20th century American retailers laid low. (Bloomberg)

Standard Life Aberdeen Plans to Cut 800 Jobs After Merger (Bloomberg)

General Motors reports 600 layoffs at Delta Twp. Assembly plant (WXYZ)

     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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