Thursday, June 29, 2017

Thursday roundup (06-29-2017)

Emerging market borrowing spree lifts global debt to record $217 trillion -IIF (Reuters)

French PM warns of more cuts to contain 'spiraling' deficit (Reuters) France 'far off course' in efforts to hit deficit targets (Agence France Presse)

[In the United States,] Dazed GOP bolts Washington in health care disarray: Senate Republicans are still divided on their bill to repeal Obamacare, and a weeklong recess won't offer much respite. (Politico) The GOP’s health-care bill is political kryptonite (The Washington Post) Four New Polls Show Support For Republican Trumpcare In Teens (Crooks and Liars blog)

Republicans Slam President Trump for 'Face-Lift' Tweet: 'This Isn't Normal' (Time) Trump’s very bad tweets about Mika Brzezinski are a microcosm of his struggling presidency (The Washington Post) ‘This is not okay’: Congresswomen blast Trump for attacking Mika Brzezinski’s appearance (Yahoo!News) How do Trump’s Twitter taunts affect the presidency?: President Trump's Twitter attack on MSNBC hosts Mika Brzezinski and Joe Scarborough -- whom he called "low I.Q. Crazy Mika" and "Psycho Joe" -- ignited a firestorm of sharp criticism, even from the president's Republican allies. John Yang reports and Judy Woodruff talks with Beverly Gage of Yale University and Matthews Dowd, former chief strategist under George Bush, about the implications. (PBSNewshour)

Spurned by Trump, Senate Democrats Take a Harder Line (The New York Times)

Tillerson blows up at top White House aide: The secretary of state, frustrated by negative press coverage and delays in appointing staff, unleashed his anger in front of Reince Priebus, Jared Kushner and others. (Politico)

Bombardier Transportation confirms to cut up to 2,200 German jobs (Reuters)

[The decision by Google to destroy the format of their news pages and to make them virtually unreadable has depressed me immeasurably and is having a severe impact on the production of this blog. I am unsure what to do.] (Google blogs)

     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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