Monday, June 5, 2017

Monday roundup (06-05-2017)

IMF's Lagarde offers eurozone Greek debt compromise, Handelsblatt says (Reuters)

Household debt bubble [in the UK] hits £198bn and it's close to bursting: Average home now owes £7,300 after spenders go on a borrowing binge (The Daily Mail)

[In the United States,] Trump set to make first moves at completely revamping the Federal Reserve (CNBC)

As Russia probe grinds on, Trump struggles to gain traction on agenda (Reuters)

Trump's Tweets May Have Sunk His Travel Ban: The president fires off some ill-advised tweets confirming the legal arguments opposed to his policy (The Atlantic) With Every Tweet, Trump Turns His DOJ Into More of a Mockery: How the president is losing his travel ban case every time he tweets about his travel ban (Slate) Trump undercuts his lawyers with tweets about travel ban (The Los Angeles Times) Trump’s latest unhinged tweetstorm could hasten his downward spiral (The Washington Post blogs)

Trump's tweets prompt backlash from GOP lawyers: Prominent attorneys are concerned the president is undermining his own administration's case for preserving his controversial travel ban policy. (Politico) Ex-Bush official unloads on Trump: He ‘infects the legal soundness of everything his admin does’ (Raw Story)

Trump Can’t Stop Corporate America From Fighting Climate Change: Sustainability is good for business. Pulling out of the Paris Agreement won’t change that. (Slate)

How a ‘shadow’ universe of charities joined with political warriors to fuel Trump’s rise (The Washington Post)

Study: Illinois' public pensions are worse off than state claims (Illinois News Network)

Grand Canyon at risk as Arizona officials ask Trump to end uranium mining ban: Powerful regional officials to ask administration to end 20-year ban, saying it is unlawful and inhibits economic opportunity (The Guardian)

4 Reasons Why Puerto Rico’s ‘Bankruptcy’ Process Matters to U.S. Residents (NBCNews)

     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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