Wednesday, May 24, 2017

Wednesday roundup (05-24-2017)

Eurozone ‘still fragile’ despite growth spurt, warns European Central Bank (The Telegraph)

Goodbye cars? Why Europe’s cities are cleaning up their act: Across Europe cities are taking urgent steps to cut rising levels of air pollution from congested urban areas. (JLL Real Views)

UK household debt to hit a record £15,000 as wages stagnate: Families are increasingly turning to credit cards and payday loans to pay bills, says TUC. (International Business Times)

China's rising debt prompts Moody's downgrade (USAToday) China’s Addiction to Debt Now Threatens Its Growth (The New York Times)

[In the United States,] 23 million fewer people would have insurance under GOP health-care bill, CBO says (CNBC) Obamacare replacement could make costs soar for many sick people and those over 64 (CNBC)

Trump official in charge of food stamps departs from Trump’s plan to gut the program (The Washington Post)

Jeff Sessions said to have not disclosed meetings with Russian ambassador when applying for security clearance (CNBC)

Why The Russia Investigation Matters And Why You Should Care (National Public Radio)

5 moments that show Trump isn’t about to get any help from the intelligence community (The Washington Post)

America’s most successful companies are killing the economy: Winner-take-all companies, including Alphabet and Wal-Mart, are driving down wages and destroying communities (Marketwatch)

     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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