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.

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