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.

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