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.

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