Friday, June 30, 2017

Friday roundup (06-30-2017)

The 23 countries with the highest levels of debt to GDP (The Business Insider)

Greek central bank cuts growth outlook, warns of risks from debt pile (Reuters)

America is hooked on credit cards — and it's pretty clear why (The Business Insider)

Trump further disrupts Obamacare repeal efforts: His tweet that Senate Republicans should repeal the law without a replacement could upend already-faltering negotiations. (Politico) Now Trump Is Suggesting Maybe The Senate Should Repeal First, Replace Later: It’s a presidential tweet, so take it seriously at your own risk. (The Huffington Post) Don’t sugarcoat this. Trump just called for 32 million people to lose health coverage. (The Washington Post) Senate GOP: Repeal then replace isn't happening (Axios)

Trump's considering a tariff that could put the economy on a path to 'global recession' (The Business Insider) Trump overrules cabinet, plots global trade war (Axios)

How Trump is doing on keeping 10 key promises (CNBC)

Present at the Destruction: How Rex Tillerson Is Wrecking the State Department: I worked in Foggy Bottom for 6 years. I’ve never seen anything like this. (Politico)

Give Us Back Google News Classic Design #googlenews (Economic Signs of the Times blog)

     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.

Give Us Back Google News Classic Design #googlenews

*   *   *   *   *   *   * 

July 6 update: Since the redesign of Google News, I felt that visiting its home page would be lending support to a design that I found appalling. So I have stayed away from the Google News homepage, except to check in periodically to see if it has been returned to what it was. It has not. What I saw during a visit today is that Google appears to have begun addressing some of the issues raised below. The thin, small, difficult-to-read designer typeface has been replaced with a larger, thicker, very-easy-to-read typeface. The font is no longer an issue. Individual cards seem to carry the headlines of quite a few stories as opposed to cards in the early days of the redesign which seemed to have only two or three headlines. Other issues have yet to be addressed, such as restoring the summary paragraph below the lead headline and reinstating the filmstrip that showed both related videos and other news stories; these were very helpful features that made Google News outstanding. However, I regard the progress already in evidence as hopeful signs that they want to make a web page that will serve the needs of readers, and if the page continues to move back toward the excellent service once provided, I stand ready to embrace Google News once again. I'm not quite there yet.

*   *   *   *   *   *   *

I am someone who visited Google News several times a day for years to see what was happening in my country and in the world. It was an exceedingly well-designed resource for people who wanted to know what was going on in the world from multiple sources and who wanted to see this wide choice of sources at a glance.

Google has now redesigned the News home page in a way that I find completely user unfriendly (Google blogs).

The sentence or paragraph that used to summarize the lead story in each section (what is now a "card") has been eliminated. The value of that summary was that when you read it, together with all the other headlines in that section, you used to be able to get a good idea of what a story was about and you used to get a good idea of what story you might like to click on in order to read more. Now you can only guess at a news story's content from the few words of its headline. It is as if suddenly all the depth and richness of the Google News home page had been utterly gutted and trashed.

The number of headlines featured in each section seems to be smaller for most "cards" than was the case with the old sections. The decision to put only a very few headlines in a "card" and to force readers who want to know more to go off the home page for a larger collection of headlines is not at all what I wanted. It is so wasteful of time.

The scrollable film strip of news stories and videos has been removed. Hovering over that strip, you could see more headlines or you could click to view a video. And you could do all this without leaving the home page. This was a wonderful and very effective resource. It offered the choice of more sources and more points of view right at your fingertips.

The new font is not so readable as the old font. It seems less bold, less thick, less large.

All of these changes combined mean that one has to spend way more time on the Google News page getting way less satisfaction. It is a struggle to find things that one found easily before, if they can be found now at all.

The only reason I visit the Google News home page now is to see if the old format has been restored yet.

Google, please give us back the old design. I am not alone in asking this. It depresses me every time I think of what we have lost through this new unwanted format. I keep wanting to go to the old Google News, but I can't find it anywhere.



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FURTHER COMMENTS

What happened to the Classic view for Google News? [hundreds of denunciations of the new format at an official Google message board] (Google News Help Forum)

Google News redesign unsurprisingly angers everyone (memeburn)

Google News Redesign: Why All the White Space? [scores of denunciations] (Reddit)

How to revert the new google news [= you can't] (Reddit)

Google News gets a much-needed redesign to cut down on clutter and confusion [scathing comments] (Reddit)

Opinion: Google Unleashes Terrible New Update For Google News Upon the Net (Slashdot)

HOW TO CHANGE BACK TO OLD GOOGLE NEWS FORMAT [= you can't] (Youtube)

Thursday, June 29, 2017

Thursday roundup (06-29-2017)

Emerging market borrowing spree lifts global debt to record $217 trillion -IIF (Reuters)

French PM warns of more cuts to contain 'spiraling' deficit (Reuters) France 'far off course' in efforts to hit deficit targets (Agence France Presse)

[In the United States,] Dazed GOP bolts Washington in health care disarray: Senate Republicans are still divided on their bill to repeal Obamacare, and a weeklong recess won't offer much respite. (Politico) The GOP’s health-care bill is political kryptonite (The Washington Post) Four New Polls Show Support For Republican Trumpcare In Teens (Crooks and Liars blog)



Republicans Slam President Trump for 'Face-Lift' Tweet: 'This Isn't Normal' (Time) Trump’s very bad tweets about Mika Brzezinski are a microcosm of his struggling presidency (The Washington Post) ‘This is not okay’: Congresswomen blast Trump for attacking Mika Brzezinski’s appearance (Yahoo!News) How do Trump’s Twitter taunts affect the presidency?: President Trump's Twitter attack on MSNBC hosts Mika Brzezinski and Joe Scarborough -- whom he called "low I.Q. Crazy Mika" and "Psycho Joe" -- ignited a firestorm of sharp criticism, even from the president's Republican allies. John Yang reports and Judy Woodruff talks with Beverly Gage of Yale University and Matthews Dowd, former chief strategist under George Bush, about the implications. (PBSNewshour)



Spurned by Trump, Senate Democrats Take a Harder Line (The New York Times)

Tillerson blows up at top White House aide: The secretary of state, frustrated by negative press coverage and delays in appointing staff, unleashed his anger in front of Reince Priebus, Jared Kushner and others. (Politico)

Bombardier Transportation confirms to cut up to 2,200 German jobs (Reuters)

[The decision by Google to destroy the format of their news pages and to make them virtually unreadable has depressed me immeasurably and is having a severe impact on the production of this blog. I am unsure what to do.] (Google blogs)

     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.

Is it a recovery yet? (Weekly report, 06-29-17)

A recovery would be indicated by weekly initial jobless claims holding below 500,000, according to Linda Duessel, market strategist at Federated Investors in Pittsburgh. (Reuters)

IT'S A RECOVERY! (And it has been a recovery for every week since the Nov. 25, 2009 report, with the exception of the Aug. 19, 2010 report.)

"Initial jobless claims in the period running from June 18 to June 24 rose by 2,000 to a seasonally adjusted 244,000, the government said Thursday." (Marketwatch)

SEE LAST WEEK'S POST HERE.

     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.

Wednesday, June 28, 2017

Wednesday roundup (06-28-2017)

The split between doves and hawks in the Bank of England is intensifying (The Business Insider)

We [in Ireland] must cut dangerous debt levels to lessen risk of crisis (The Irish Independent)

China’s debt surpasses 300 percent of GDP, IIF says, raising doubts over Yellen’s crisis remarks (CNBC)

[In the United States,] McConnell is trying to revise the Senate health-care bill by Friday (The Washington Post) McConnell is known as a deal-closer, but he’s never done policy this big (The Washington Post)

Technology is the hidden driver of low inflation: BlackRock’s Rieder (CNBC)

[The decision by Google to destroy the format of their news pages and to make them virtually unreadable has depressed me immeasurably and is having a severe impact on the production of this blog. I am unsure what to do.] (Google blogs)

     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.

Tuesday, June 27, 2017

Tuesday roundup (06-27-2017)

The BIS and the global debt bubble (The American Enterprise Institute blogs)

Few Overseas Have Faith in Trump’s Leadership, Survey Finds (The New York Times)

UK banks ordered to hold more capital as consumer debt surges: Bank of England brings forward annual stress tests as it grows anxious over lenders’ exposure to consumer credit (The Guardian)

[In the United States,] Vote Delayed as G.O.P. Struggles to Marshal Support for Health Care Bill (The New York Times) ‘Repeal and replace’ was once a unifier for the GOP. Now it’s an albatross. (The Washington Post) Senate Health Care Vote Delayed, But Negotiations Continue (NBC Nightly News)



Powerball, Mega Millions to drop Illinois due to state's budget crisis (WLS) Wednesday’s $90 million Powerball drawing could be last for budget-hobbled Illinois: Lack of funding in a state nearing ‘junk’ credit rating affects Powerball, Mega Millions and state prize payments over $25,000 (Marketwatch)

How Bad Is the Crisis in Illinois? It Has $14.6 Billion in Unpaid Bills (Dow Jones Newswires)

President Trump Looks To Slash Nearly 4,000 Interior Department Jobs (National Public Radio)

     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.

Monday, June 26, 2017

Monday roundup (06-26-2017)

World heading for financial crash as China on verge of ‘boom gone wrong’: A GLOBAL financial crash is brewing as China and other emerging markets are binging on debt, the world's central bank watchdog has warned. (The Express)

The Next Recession: We Are Witnessing The Largest Twin Bubbles In History (Forbes)

France to make public spending cuts as 2017 deficit to exceed 3 percent: finance minister (Reuters)

Italy bank rescue divides Europe (Reuters) Italy bank bailout anger as EU has 'one rule for Rome and another for others': ITALY will be allowed to break official European Union rules and stump-up billion of pounds worth of taxpayer cash for crumbling lenders to prevent a full-scale banking crisis. (The Express) Italy's Latest Bank Bailout Has Created A Two-Speed Eurozone (Forbes) Italy agrees to €17bn bailout of two more banks in biggest ever rescue plan: Depositors were at risk so the state had to stop in to to save Banca Popolare di Vicenza and Veneto Banca, Prime Minister Paolo Gentiloni said (The Independent) If you want something to worry about with a shorter fuse, watch Italy: Banks and government can’t bail each other out (Asia Times)

[The United States] Supreme Court Will Hear Travel Ban, Which Is Partly Reinstated (The New York Times) Supreme Court just handed Trump a huge victory on travel ban (CNBC) [versus] ACLU: Supreme Court decision allows for ‘only the narrowest’ travel ban (The Washington Post)




22 million fewer Americans insured under Senate GOP bill (CNNMoney) American Medical Association Comes Out Against Senate O’care Repeal Bill (Talking Points Memo)

Three GOP senators to vote against taking up healthcare bill without changes [= Susan Collins, Dean Heller, and Rand Paul] (The Hill)

Koch-backed group calls health fight in Congress 'humbling' (Politico)

John Dean: Frightened Trump Is In Over His head [The Verdict via] (Newsweek)

Where Trump Zigs, Tillerson Zags, Putting Him at Odds With White House (The New York Times)

Pennsylvania budget deadline looms with no clear way to bridge $3 billion deficit (The Morning Call)

     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.

Sunday, June 25, 2017

Sunday roundup (06-25-2017)

Great recession fears as bankers warn next global crash could arrive 'with a vengeance': Next major recession could be brewing in countries like China, a new report warns (The Independent)

Inflation Has More Than One Reason to Surge, Only It Won't (Bloomberg)

Gartman: The oil bear market has turned crude into a ‘worthless’ commodity (CNBC) Young people don't want to work for oil companies (CNNMoney)

Italy winds up Veneto banks at cost of up to 17 billion euros (Reuters) Italy Commits $19 Billion for Veneto Banks in Largest State Deal (Bloomberg) Italy Rushes to Approve Decree Law to Keep Two Veneto Banks Open (Bloomberg) Deal on Italian Banks Raises Questions about Eurozone Rules (Dow Jones Newswires)

Senate Republicans [in the United States] skeptical Obamacare repeal can pass this week: Senate GOP leaders face problems from seemingly every corner of the conference. (Politico) Rival Senate factions push competing agendas as healthcare measure hangs in balance (The Los Angeles Times) Senate Republicans face key week as more lawmakers waver in support for health-care bill (The Washington Post) Key Republican Collins has 'serious concerns' on healthcare bill (Reuters) Democrat and Republican senators say vote on GOP health care bill should be delayed (The New York Daily News) Koch network withholding support of Senate health-care bill, pushing for changes (The Washington Post)

The Senate Health Care Bill Is Crueler Than You Ever Imagined: The House plan to replace Obamacare was heartless. The Senate plan is even worse. (Cosmopolitan) GOP's Obamacare repeal bills threaten huge disruptions across the healthcare system (The Los Angeles Times)

On healthcare, GOP loss could be a win (CNN)

Trump Refuses To Blame Obama For Resistance To The Senate Health Care Bill Draft: Trump also said he thinks the several Republicans who are holding out support for the current health care bill draft can be convinced. (BuzzFeed News)

Illinois debt is about to be rated 'junk.' What that means (The Associated Press)

     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.

Saturday, June 24, 2017

Saturday roundup (06-24-2017)

Oil Prices To Stay Low If Global Credit Impulse Turns Negative (OilPrice)

European Central Bank Moves to Wind Down Two Italian Banks (The New York Times blogs) Italian government decree for Veneto banks delayed to Sunday: source (Reuters) Europe's Banking Union Is Dying in Italy: Italy's plan to rescue two small banks makes a mockery of Europe's new regulations. (BloombergView)

VW brand is cutting jobs more quickly than planned: HR boss (Reuters)

Bank of England poised to act as credit card market overheats (The Telegraph)

The surprising GOP holdout on the [United States] Senate’s health bill: One of Obamacare’s harshest critics isn’t sold on the repeal bill. (Politico)

Senate health-care bill faces serious resistance from GOP moderates (The Washington Post)

Opioid crisis threatens GOP ObamaCare repeal (The Hill) Opioids, a Mass Killer We’re Meeting With a Shrug (The New York Times)

Why I resigned from the Foreign Service after 27 years (The Washington Post)

Chicago Police Pension Goes Bust by Martin Armstrong (Armstrong Economics blog)

     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.

Friday, June 23, 2017

Friday roundup (06-23-2017)

Has the world been fitted with a debt straightjacket? (The American Enterprise Institute)

Senate Health Care Bill [in the United States]: Five GOP Senators Say They Don't Support (NBC Nightly News)



Five GOP senators now oppose health bill — enough to sink it (The Washington Post) [Senate Majority Leader Mitch] McConnell will be a legislative wizard if health care passes (The Washington Post) Republican Senator Vital to Health Bill’s Passage Won’t Support It (The New York Times) Heller comes out against Senate GOP health care bill: The Nevada Republican did leave the door open to supporting the bill if changes are made. (Politico) [Heller was in a count of seven opponents, posted here on Wednesday] (Economic Signs of the Times blog) Rand Paul [, another of the five opponents]: Republican health care plan is an insurance bailout (The Washington Times) Conservatives are rage-tweeting that the Senate health care bill is "Obamacare lite" (Vox) How ‘Repeal-and-Replace’ Legislation Could Increase The Deficit [includes more information on Dean Heller, the latest of the five GOP opponents and author of a 2015 amendment to Obamacare that was voted in with bipartisan support] (The Federalist) On health care, moderates quiet while conservatives yell (Axios)

Memo Shows Preet Bharara Was Concerned After Phone Call From White House: “Hi Mr. Bharara, this is Madeline Westerhout calling from President Donald Trump’s office.” (BuzzFeed News)

Carrier workers facing layoffs feel betrayed by Trump (CBSNews) [But] Spicer says Carrier layoffs don’t represent backtracking on commitment to save Indiana jobs (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.

Thursday, June 22, 2017

Thursday roundup (06-22-2017)

Where Does Italy’s Bank Recapitalization Stand?: Italy is making real progress now. But completing the recapitalization of Monte and the restructuring of the two Veneto banks may not be quite enough. (The Council on Foreign Relations blogs)

[United States] Senate Health Care Bill Includes Deep Cuts to Medicaid (The New York Times) Republicans’ Obamacare repeal would be one of the biggest cuts to the social safety net in history (The Washington Post) Rocky rollout for Senate healthcare bill (The Hill) Four GOP senators oppose Senate health-care bill in its current form (The Washington Post) McConnell’s Calculation May Be That He Still Wins by Losing (The New York Times) Trump says he is 'very supportive' of Senate healthcare bill [Reuters via] (CNBC) Former Molina CEO calls Senate health-care bill 'heartless' (CNBC)

Trump vows to cut 'job-killing' regulations on tech industry (The Hill)

GOP lawmaker raises 'serious questions' about Kushner family conflicts (CNNMoney)

How Can Trump Get Anything Done With All Those Empty Seats?: A lack of staff at key agencies is weighing on the president’s agenda and frustrating cabinet officials. (Bloomberg)

EPA, Interior Plan to Cut More Than 5,000 Staff by 2018 (Newsweek) EPA completes purge of scientists from its scientific advisory board (Daily Kos)

Dying Sears Canada Plans to Slash 2,900 Jobs, Close 59 Stores Amid Bankruptcy (TheStreet)

Bombardier to cut around 2,200 jobs in Germany - source (Reuters)
 
Allianz to cut 700 jobs in Germany in next three years: Sueddeutsche (Reuters)

Trump's Carrier deal is not living up to the hype — jobs still going to Mexico [as more than 600 employees brace for layoffs] (CNBC)

     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.

Is it a recovery yet? (Weekly report, 06-22-17)

A recovery would be indicated by weekly initial jobless claims holding below 500,000, according to Linda Duessel, market strategist at Federated Investors in Pittsburgh. (Reuters)

IT'S A RECOVERY! (And it has been a recovery for every week since the Nov. 25, 2009 report, with the exception of the Aug. 19, 2010 report.)

"Initial jobless claims rose by 3,000 to 241,000 in the seven days stretching from June 11 to June 17, Labor Department said Thursday." (Marketwatch)

SEE LAST WEEK'S POST HERE.

     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.

Wednesday, June 21, 2017

Wednesday roundup (06-21-2017)

[In the United States,] G.O.P. Rift Over Medicaid and Opioids Imperils Senate Health Bill (The New York Times) GOP Health Bill Kept Secret From Senators Assigned to Write It (Bloomberg) Trumpcare Could Be Doomed As 7 Senate Republicans Are Reported To Be No Votes: There is a report that seven current Senate Republicans are no votes on the secret health care bill, while three others are undecided. (PoliticsUSA)

Trump seeks sharp cuts to housing aid, except for program that brings him millions (The Washington Post)

Scott Pruitt to eliminate 8 percent of Environmental Protection Agency workforce by September: In an effort to continue downsizing the regulatory agency, the EPA will soon shed 1,200 employees (Salon)

Tesco to cut up to 1,100 jobs with Cardiff customer centre closure (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.

Tuesday, June 20, 2017

Tuesday roundup (06-20-2017)

3 ways Clean Energy will make Big Oil extinct in 12 to 32 Years — without subsidies: As the old world dies, a new world is being born (Medium)

Towards global deflationary recession (The Huffington Post)

EU Says Greece Needs More Debt Relief Despite Buffer (Bloomberg)

[In the United States,] Fed should be fighting deflation as prices fall for autos, commodities and now groceries (CNBC) Amazon Has at Least One Fed Official Rethinking Inflation (Bloomberg)

U.S. tightens sanctions on Russia over Crimea (CNNMoney)

How to Deal With North Korea: There are no good options. But some are worse than others. (The Atlantic) Obama told Trump that North Korea was most urgent problem he'd face: report [March 4] (The Hill)

What happened to Otto Warmbier? When the unthinkable is unknowable. (The Washington Post)

Why you should care about increasing secrecy in White House and Senate (CNN) The White House Press Briefing Is Slowly Dying: The daily appearance by the press secretary has become rarer, and moved off camera. Asked for an explanation, Steve Bannon said, “Sean got fatter.” (The Atlantic) In Trump’s Washington, public business increasingly handled behind closed doors (The Washington Post)

Fate of Obamacare repeal uncertain in Senate: GOP leadership is confident, but other Republicans are far less bullish. (Politico) Senate GOP speeding towards health care vote [on June 29, which is] next Thursday (CNN) Senate GOP leaders will present health bill this week, even as divisions flare (The Washington Post) Sen. Corker expects GOP Obamacare repeal bill will be made public Thursday (Politico) Senate GOP considers deeper Medicaid cuts than House bill (The Hill)

[Sen.] Dick Durbin [(D) of Illinois]: To Stop Healthcare Bill, 'The Magic Number Is Three' (Crooks and Liars blog) Trio of conservative Republicans [Ted Cruz, Mike Lee, and Rand Paul] rip Senate healthcare process (The Hill) Mike Lee [(R) of Utah]: Frustrated About 'Lack of Transparency in Healthcare Process' (Youtube)



State Department probes Clinton handling of government emails, could pull her security clearance (FoxNews)

A Disabled Executive: The Special Counsel Investigation and Presidential Immunities (Lawfare blogs)

Attorney General Jeff Sessions hires private lawyer (CNBC)

     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.

Monday, June 19, 2017

Monday roundup (06-19-2017)

Amazon CEO Jeff Bezos may be single-handedly killing inflation [in the United States] (CNBC)

GOP considers canceling August recess to salvage agenda (The Hill)

Are Republicans leading the most secretive health-care bill process ever? (The Washington Post)  Newt Gingrich: GOP, slow down on killing ObamaCare (The Hill blogs)

For Trump, danger signs in the polls (The Hill)

Elizabeth Warren: Americans Don’t Want Less Regulation: Senator says there’s no mandate to loosen rules on banks (The Wall Street Journal)



Otto Warmbier, imprisoned in North Korea, dies in U.S. (USAToday) Why I can’t stop thinking about Otto Warmbier (The Washington Post)



     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.

Sunday, June 18, 2017

Sunday roundup (06-18-2017)

Falling Commodity Prices Are a Big Reason Why Inflation Is So Low (StockCharts)

The Justice Department Is Killing Trump (National Review)

Rosenstein must recuse himself from involvement in Mueller probe (CNN)

Help wanted: Why Republicans won’t work for the Trump administration (The Washington Post)

     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.

Saturday, June 17, 2017

Saturday roundup (06-17-2017)

Republicans divided as Trump reverses some Obama Cuba policy (The Associated Press)

     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.

Friday, June 16, 2017

Friday roundup (06-16-2017)

[In the United States,] Governors from both parties slam House healthcare bill, call for bipartisan Senate approach (The Hill) Senate likely to miss its Obamacare repeal deadline: The prospects of Republicans meeting their deadline of a Senate health care vote before the end of the month are bleak — and growing more so by the day. (Politico) Descent Into Secrecy: Senate Health Talks Speak To Steady Retreat From Transparency (Kaiser Health News) The Senate’s Health Care Secrecy Is a Breathtaking Contempt for Democracy: Millions will suffer, for a tax cut. (Slate)

Prospect of Trump firing Mueller keeps becoming more untenable (The Washington Post) White House aides fret over Trump’s Russia probe obsession: The president can't stop talking about the expanding Russia probes, and advisers say they're worried he's making the situation worse. (Politico) Trump is hastening his own political death spiral (The Washington Post)

Trump reports hundreds of millions in income (CNNMoney)

Could Illinois be the first state to file for bankruptcy? (CBSMoneywatch)

Are States The Next 'Too Big To Fail'? (Investor's Business Daily)

     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.

Thursday, June 15, 2017

Thursday roundup (06-15-2017)

Greece gets credit lifeline, IMF joins bailout (Reuters) IMF won't fund Greek bailout until it gets more clarity on debt restructuring (CNBC) Greece Gets Enough to Avoid Another Bailout Trauma: Greece has avoided another bailout trauma after striking a deal with European creditors to get more money and assurances that the country's repayment burden will be eased once it can stand on its own. (The Associated Press)

'We can't allow second Brexit' Eurozone must reform or more will leave, warns Spain: THE eurozone cannot afford another country to leave the bloc after Britain's groundbreaking vote to leave last year, Spain's economy minister has warned. (The Express)

Bank of England narrowly votes in favor of maintaining record low interest rates (CNBC)

UK student loan debt soars to more than £100bn: News of 16.6% jump in outstanding debt follows Labour’s general election pledge to scrap tuition fees (The Guardian)

[In the United States,] A Reported Investigation of Trump Would Have Widespread Legal Implications (NBCNews) Trump lashes out at Russia probe; Pence hires a lawyer (The Washington Post)

The Senate’s Health Care Bill Remains Shrouded in Secrecy (NBCNews) I’ve covered Obamacare since day one. I’ve never seen lying and obstruction like this. [Vox via] (CNBC)

Trump to unveil new Cuba travel restrictions in aim to slam regime's human rights record (CNBC)

Energy Department Closes Office Working on Climate Change Abroad (The New York Times)

Trump Administration Scraps New Protection For Endangered Whales, Sea Turtles: “[The] administration has declared war on whales, dolphins and turtles off the coast of California,” one advocate said. (The Huffington Post)

Kroger sinks 13% on outlook warning; CFO blames deflation and competition (CNBC) Kroger Tumbles After Food Deflation Brings Dimmer Outlook (Bloomberg) Sprouts Farmers Market 'significantly impacted' by deflation due to its focus on fresh items (Marketwatch)

Nike To Cut About 1,400 Jobs Globally (Fortune)

     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.

Is it a recovery yet? (Weekly report, 06-15-17)

A recovery would be indicated by weekly initial jobless claims holding below 500,000, according to Linda Duessel, market strategist at Federated Investors in Pittsburgh. (Reuters)

IT'S A RECOVERY! (And it has been a recovery for every week since the Nov. 25, 2009 report, with the exception of the Aug. 19, 2010 report.)

"Initial jobless claims fell by 8,000 to 237,000 in the seven days stretching from June 4 to June 10, the government said Thursday." (Marketwatch)

SEE LAST WEEK'S POST HERE.

     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.

Wednesday, June 14, 2017

Wednesday roundup (06-14-2017)

The world is awash in $9 trillion of bonds that are guaranteed to lose money [= negative-yielding bonds] (Quartz)

Greek PM renews call for lenders to tackle Greece's debt (The Associated Press)

[In the United States,] Fed hikes interest rates despite declining inflation, sets plan for balance sheet reduction (CNBC)

America’s Deficit Just Jumped by $30 Billion. Should You Care? (NBCNews)

Senate Democrats plan offensive to try to save Obamacare (Politico) The Senate is about to ram through Trumpcare. This is not a drill; it's an emergency (The Los Angeles Times) Trump Now Thinks the ‘Great’ American Health Care Act Is ‘Mean’ (New York)

How Trump is rolling back Obama’s legacy: During President Trump’s first year in office, Congress and his administration plan to review, revoke and overwrite key parts of his predecessor’s domestic legacy. (The Washington Post) Trump tries to master the art of the tiny: Facing multiple investigations and a stalled reform agenda, the president is shifting to smaller proposals to generate concrete wins. (Politico)

Special counsel is investigating Trump for possible obstruction of justice, officials say (The Washington Post)

Democrats in Congress suing Trump, citing conflicts (USAToday)

Australia's Telstra says will cut 1,400 jobs in cost-cutting drive (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.

Tuesday, June 13, 2017

Tuesday roundup (06-13-2017)

Global credit crunch WARNING issued on debt bubble as current trends mirror 2008 crash: WARNING signals have been felt today after a key credit indicator mirrored the same pattern experienced ahead of the financial crisis of 2008, in a eerie sign that the global economy is heading for another downturn. (The Express)

France at 'extremely high risk' of MISSING deficit target warns French PM: FRANCE is likely to miss its deficit target for this year because of the previous government's lax spending, prime minister Edouard Philippe said. (The Express)

One in 10 in serious debt [in the UK] 'have no bed' (The BBC)

[In the United States,] Trump disapproval rating hits new high in daily Gallup poll (CNBC)

Lost in the Trump chaos: House Republicans vote to gut financial protections: Dangerous moves to unravel post-crisis financial protections cannot break through the Trump scandal bubble (MediaMatters) Elizabeth Warren: 'Too Big to Fail Banks' Now Even Bigger (The Wall Street Journal blogs)



Trump knocks House health care bill as too harsh: The president offered no detailed directives, but pressed for a deal. (Politico) Republicans are closer to killing ObamaCare than you think (TheWeek) [versus] Senate GOP reins in expectations for killing Obamacare: Some Republican lawmakers are growing worried about their tight time frame for overhauling health care. (Politico) Senate GOP won't release draft health care bill ["We aren't stupid"] (Axios)

11 States Sue Trump's DOE Over Stalled Energy-Use Limits: New York, California and nine other states are suing the Trump administration over its failure to finalize energy-use limits for portable air conditioners and other products. (The Associated Press)

     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.

Monday, June 12, 2017

Monday roundup (06-12-2017)

Euro zone, IMF eye compromise to unblock loans for Greece (Reuters)

Payday loan complaints [in the UK] see sharp rise despite new rules (The BBC)

US budget deficit jumps in May as spending outpaces revenue (The Associated Press)

Treasury Secretary Mnuchin says US can pay its bills through early September (The Associated Press)

Trump hasn’t appointed anyone to any key infrastructure jobs [Vox via] (CNBC)

Trump makes bizarre claims at press event as Cabinet members take turns praising him (CNBC) Cabinet Members Take Turns Praising President Trump in Meeting (Time) Trump Hosts Cult-like Cabinet Meeting To Bask In Praise (Crooks and Liars blog)



Trump reportedly mulling the termination of special counsel Robert Mueller (CNBC)

D.C. and Maryland sue President Trump, alleging breach of constitutional oath (The Washington Post)

Another U.S. appeals court refuses to revive Trump travel ban (Reuters) Trump's tweets were used against him in a court's travel-ban ruling (The Business Insider)

Harry Markopolos – Who Exposed Madoff – Has Uncovered a New Fraud [funding level of Boston's MBTA pensions] (Advisor Perspectives)

     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.