Tuesday, June 6, 2017

Tuesday roundup (06-06-2017)

The World’s $100 Trillion Question: Why Is Inflation So Low? (Bloomberg)

Collapse of Veneto banks [in Italy] would create systemic crisis: undersecretary (Reuters)

South Africa’s unexpected recession confounds economists [The Financial Times via] (CNBC)

McConnell whips [the United States] Senate GOP back in line on Obamacare repeal: Republicans emerged more optimistic they could pass a bill to gut the health law after a series of meetings Tuesday. (Politico)

Senate Republicans fear ‘train wreck’ in September: There have been no talks between the two parties on how to avoid a shutdown and debt default in late summer or early fall. (Politico)

By politicizing terror [via Twitter], Trump picked the wrong approach to global crisis (The Hill blogs) Even The Conservative WSJ Editorial Board Thinks Trump’s Tweets Are A Huge Problem: “Further evidence that the most effective opponent of the Trump Presidency is Donald J. Trump.” (The Huffington Post) Donald Trump May Find Time To Live-Tweet James Comey’s Testimony: This could get interesting. (The Huffington Post)

Comey Told Sessions: Don’t Leave Me Alone With Trump (The New York Times) [Meanwhile] Top intelligence official told associates Trump asked him if he could intervene with Comey on FBI Russia probe (The Washington Post)

Trump Grows Discontented With Attorney General Jeff Sessions (The New York Times) Trump is now raging at Jeff Sessions. This hints at a deeply unsettling pattern. (The Washington Post blogs) Jeff Sessions suggested he could resign amid rising tension with President Trump (ABCNews) White House won't say if Trump has confidence in AG Sessions (CNN)

Senior US diplomats driven to dissent, resign under President Trump (ABCNews)

The Trump administration has a recruiting problem (The Washington Post) [Plus...] Four top law firms turned down requests to represent Trump (Yahoo!News) [Meanwhile] How Trump is stalling his own nominees: The White House has taken weeks to formally submit nominations to the Senate, even after announcing the picks. (Politico)

White House ices Russia war room idea: Corey Lewandowski and David Bossie won’t join the administration to handle crisis response for the time being, and inquiries will be directed to Trump’s attorney in New York. (Politico)

Leaked NSA Doc Highlights Deep Flaws in US Election System: A leaked NSA document outlining alleged attempts by Russian military intelligence to hack into U.S. election systems is the latest piece of evidence suggesting a broad, sophisticated foreign attack on the integrity of U.S. elections. (The Associated Press)

The $110 billion arms deal to Saudi Arabia is fake news (Brookings Institute blogs)

In Trump’s White House, Everything’s Coming in ‘Two Weeks’ (Bloomberg)

Sears is closing 66 more stores (USAToday)

Amazon's and Walmart's latest moves confirm the death of the middle class as we know it (The Business Insider)

Four Reasons Why A Government Bailout For Retailers Is Inevitable (Forbes)

     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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