Thursday, June 1, 2017

Thursday roundup (06-01-2017)

The Greatest Financial Bubble in History by James Rickards (Daily Reckoning)

EU, Rome seal preliminary rescue deal for Monte dei Paschi (Reuters)

Ending Greece’s Perpetual Debt Crisis [Editorial] (The New York Times)

Paris climate agreement: World leaders slam Trump decision (USAToday) As Trump Exits Paris Agreement, Other Nations Are Defiant (The New York Times) France, Italy, Germany defend Paris Accord, say cannot be renegotiated (Reuters)

Trump is leaving Paris climate agreement even though majority of Americans in every state supported it (CNBC)

‘Climate Change is Real’: Business Leaders React to President Trump’s Withdrawal from Paris Agreement (Fortune) Top CEOs tell the CEO president: You're wrong on Paris (CNNMoney) Energy Leaders React to Trump’s Withdrawal From Paris Climate Accord (Xconomy)

Cities and States Vow to Resist Trump’s Withdrawal From the Paris Agreement (Vice) Cuomo Joins California, Washington State Governors To Launch United States Climate Alliance (CBSNewYork) Pittsburgh mayor tweets support for Paris Agreement, despite Trump comments (FoxNews) [Sixty-eight] Climate Mayors commit to adopt, honor and uphold Paris Climate Agreement goals (Medium)

Trump's withdrawal from Paris deal risks job growth (CNNMoney)

Trump's Paris Adieu Is a Win for Coal and Oil But Not a Big One (Bloomberg) Even Without Paris, Business Will Leave Trump Behind on Climate Change (Wired)

TRUMP'S BIGGEST CUTS: Demoralized EPA employees brace for “wholesale war on the environment” (Vice) EPA halts Obama-era rule on methane pollution (The Hill)

Trump has granted more lobbyist waivers in 4 months than Obama did in 8 years: Violating his own ethics rules at a staggering pace. (Vox) Trump Drains Swamp by Granting Ethics Waivers to Many White House Staffers (New York)

Congress can't ignore the debt ceiling for much longer (CNNMoney)

Will Puerto Rico Find A Way To Survive Its Debt Crisis? (Forbes)

Germany's Hapag-Lloyd to cut more than a thousand jobs after merger (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.

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