Thursday, June 15, 2017

Thursday roundup (06-15-2017)

Greece gets credit lifeline, IMF joins bailout (Reuters) IMF won't fund Greek bailout until it gets more clarity on debt restructuring (CNBC) Greece Gets Enough to Avoid Another Bailout Trauma: Greece has avoided another bailout trauma after striking a deal with European creditors to get more money and assurances that the country's repayment burden will be eased once it can stand on its own. (The Associated Press)

'We can't allow second Brexit' Eurozone must reform or more will leave, warns Spain: THE eurozone cannot afford another country to leave the bloc after Britain's groundbreaking vote to leave last year, Spain's economy minister has warned. (The Express)

Bank of England narrowly votes in favor of maintaining record low interest rates (CNBC)

UK student loan debt soars to more than £100bn: News of 16.6% jump in outstanding debt follows Labour’s general election pledge to scrap tuition fees (The Guardian)

[In the United States,] A Reported Investigation of Trump Would Have Widespread Legal Implications (NBCNews) Trump lashes out at Russia probe; Pence hires a lawyer (The Washington Post)

The Senate’s Health Care Bill Remains Shrouded in Secrecy (NBCNews) I’ve covered Obamacare since day one. I’ve never seen lying and obstruction like this. [Vox via] (CNBC)

Trump to unveil new Cuba travel restrictions in aim to slam regime's human rights record (CNBC)

Energy Department Closes Office Working on Climate Change Abroad (The New York Times)

Trump Administration Scraps New Protection For Endangered Whales, Sea Turtles: “[The] administration has declared war on whales, dolphins and turtles off the coast of California,” one advocate said. (The Huffington Post)

Kroger sinks 13% on outlook warning; CFO blames deflation and competition (CNBC) Kroger Tumbles After Food Deflation Brings Dimmer Outlook (Bloomberg) Sprouts Farmers Market 'significantly impacted' by deflation due to its focus on fresh items (Marketwatch)

Nike To Cut About 1,400 Jobs Globally (Fortune)

     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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