Tuesday, June 27, 2017

Tuesday roundup (06-27-2017)

The BIS and the global debt bubble (The American Enterprise Institute blogs)

Few Overseas Have Faith in Trump’s Leadership, Survey Finds (The New York Times)

UK banks ordered to hold more capital as consumer debt surges: Bank of England brings forward annual stress tests as it grows anxious over lenders’ exposure to consumer credit (The Guardian)

[In the United States,] Vote Delayed as G.O.P. Struggles to Marshal Support for Health Care Bill (The New York Times) ‘Repeal and replace’ was once a unifier for the GOP. Now it’s an albatross. (The Washington Post) Senate Health Care Vote Delayed, But Negotiations Continue (NBC Nightly News)

Powerball, Mega Millions to drop Illinois due to state's budget crisis (WLS) Wednesday’s $90 million Powerball drawing could be last for budget-hobbled Illinois: Lack of funding in a state nearing ‘junk’ credit rating affects Powerball, Mega Millions and state prize payments over $25,000 (Marketwatch)

How Bad Is the Crisis in Illinois? It Has $14.6 Billion in Unpaid Bills (Dow Jones Newswires)

President Trump Looks To Slash Nearly 4,000 Interior Department Jobs (National Public Radio)

     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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