Wednesday, May 17, 2017

Wednesday roundup (05-17-2017)

France: 'Unemployment is our biggest economic problem': France's President Emmanuel Macron has unveiled his new cabinet. It inherits a difficult legacy, in particular a sluggish economy dogged by years of high unemployment. DW's Doris Pundy reports from Paris. (DeutscheWelle)

Spain's public debt rises by 11 billion euros in March from February [Reuters via] (The Times of India) Spain's debt surges by almost £10BILLION with money owed more than 100 per cent of GDP: SPAIN'S public debt grew by an eye-watering €11.1billion (£9.51bn) in March to reach €1.12 trillion (£900billion). (The Express)

Greek Strikes Show Why Eurozone Debt Solution Will Never Work (Forbes)

Household debt [in the United States] tops 2008 peak (CNNMoney) Household Debt Makes a Comeback in the U.S. (The New York Times blogs)

Unless Trump changes, it'll be 'almost impossible' to get policies done: former Wells Fargo CEO ["I give him a D minus [as president], and I'm being an easy grader"] (CNBC)

White House Sources Suggest They Hate Their Jobs, Are Terrified of Being Fired (New York) White House on edge: 'We are kind of helpless': Recent scandals have left White House staff feeling besieged. (Politico)

Special counsel will take over FBI Russia campaign interference investigation [NBCNews via] (CNBC) Special counsel is named to take over investigation of Russia and Trump associates (The Los Angeles Times) Special Counsel Has Been Appointed for Russia Investigation (NBCNews)

Report: Trump’s Russia leak is ‘far worse than what is being reported’ (The Blaze)

CNN’s David Gergen: ‘I Think We’re in Impeachment Territory’ (Youtube)

Flynn, Manafort Are Key Figures in Russia Probe Mueller Will Lead [-- "multiple grand jury subpoenas and records requests have been issued" regarding them] (NBCNews)

Trump Team Knew Flynn Was Under Investigation Before He Came to White House (The New York Times)

Putin Offers to Provide a ‘Record’ of Trump’s Disclosures to Russian Envoys (The New York Times)

Alarm spreads among Hill Republicans over Comey scandal: Republicans are worried, even panicked, about their scandal-plagued president and what it could mean for the GOP agenda. (Politico)

The Trump Presidency Falls Apart: After an extraordinary 10 days, the tenure of the chief executive may have deteriorated beyond his ability to repair it. (The Atlantic) The downfall of President Donald Trump (The Los Angeles Times) Cal Thomas: Mr. Trump, you are poisoning your presidency (FoxNews)

The Criminal President? by Richard W. Painter and Norman L. Eisen, chief White House ethics lawyers for Presidents George W. Bush and Barack Obama, respectively (The New York Times)

Trump says 'no politician in history … has been treated worse' (ABCNews)

Forget Puerto Rico, What About U.S. States' Soaring Pension Debts? [Editorial] (Investors Business Daily)

[Connecticut] Gov. Malloy Revises Budget To Plug $2.5 Billion Deficit (WSHU)

Cisco revenue forecast disappoints; says to cut 1,100 more jobs (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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