Thursday, May 4, 2017

Thursday roundup (05-04-2017)

Plunging oil prices show OPEC has lost its grip on the market (CNBC) Oil price collapse is 'permanent'; analyst says fossil fuel has had its day [Postmedia Network via] (The Calgary Herald)

Could Marine Le Pen beat the odds and win the French election? (CBSNews)

Germany says no debt relief being prepared for Greece (Reuters)

Brits owe more than £1.5TRILLION in personal debt, Bank of England figures reveal: Debt is at its highest since the financial crisis with the most worrying trend being that of credit card debt, with a record £67.6billion owed on plastic (The Mirror)

[In the United States,] House Republicans claim a major victory with passage of health-care overhaul (The Washington Post) The Next Step for the Republican Health Care Bill: A Skeptical Senate (The New York Times) With House vote, Obamacare replacement heads to more skeptical Senate (CNBC) Hold that victory lap! This GOP Obamacare replacement has almost no chance in the Senate (CNBC) Health care bill 'shameful,' 'harmful,' medical groups say (CNN) Vote to repeal ObamaCare spells doom for House Republicans (The Hill blogs)

A Cautionary Tale From Texas About How Cities Hide Debt And Deflate The Economy: Politicians can make promises without having to worry about transparency or its consequences, like honesty and effectiveness. Thus, America is drowning in state and local debt. (The Federalist)

How Much Does a Politician Cost? A Groundbreaking Study Reveals the Influence of Money in Politics. [Article opens with discussion of Glass-Steagal] (The Intercept) Fifty Shades of Green (Roosevelt Institute)

     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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