Thursday, June 22, 2017

Thursday roundup (06-22-2017)

Where Does Italy’s Bank Recapitalization Stand?: Italy is making real progress now. But completing the recapitalization of Monte and the restructuring of the two Veneto banks may not be quite enough. (The Council on Foreign Relations blogs)

[United States] Senate Health Care Bill Includes Deep Cuts to Medicaid (The New York Times) Republicans’ Obamacare repeal would be one of the biggest cuts to the social safety net in history (The Washington Post) Rocky rollout for Senate healthcare bill (The Hill) Four GOP senators oppose Senate health-care bill in its current form (The Washington Post) McConnell’s Calculation May Be That He Still Wins by Losing (The New York Times) Trump says he is 'very supportive' of Senate healthcare bill [Reuters via] (CNBC) Former Molina CEO calls Senate health-care bill 'heartless' (CNBC)

Trump vows to cut 'job-killing' regulations on tech industry (The Hill)

GOP lawmaker raises 'serious questions' about Kushner family conflicts (CNNMoney)

How Can Trump Get Anything Done With All Those Empty Seats?: A lack of staff at key agencies is weighing on the president’s agenda and frustrating cabinet officials. (Bloomberg)

EPA, Interior Plan to Cut More Than 5,000 Staff by 2018 (Newsweek) EPA completes purge of scientists from its scientific advisory board (Daily Kos)

Dying Sears Canada Plans to Slash 2,900 Jobs, Close 59 Stores Amid Bankruptcy (TheStreet)

Bombardier to cut around 2,200 jobs in Germany - source (Reuters)
Allianz to cut 700 jobs in Germany in next three years: Sueddeutsche (Reuters)

Trump's Carrier deal is not living up to the hype — jobs still going to Mexico [as more than 600 employees brace for layoffs] (CNBC)

     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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