Wednesday, June 14, 2017

Wednesday roundup (06-14-2017)

The world is awash in $9 trillion of bonds that are guaranteed to lose money [= negative-yielding bonds] (Quartz)

Greek PM renews call for lenders to tackle Greece's debt (The Associated Press)

[In the United States,] Fed hikes interest rates despite declining inflation, sets plan for balance sheet reduction (CNBC)

America’s Deficit Just Jumped by $30 Billion. Should You Care? (NBCNews)

Senate Democrats plan offensive to try to save Obamacare (Politico) The Senate is about to ram through Trumpcare. This is not a drill; it's an emergency (The Los Angeles Times) Trump Now Thinks the ‘Great’ American Health Care Act Is ‘Mean’ (New York)

How Trump is rolling back Obama’s legacy: During President Trump’s first year in office, Congress and his administration plan to review, revoke and overwrite key parts of his predecessor’s domestic legacy. (The Washington Post) Trump tries to master the art of the tiny: Facing multiple investigations and a stalled reform agenda, the president is shifting to smaller proposals to generate concrete wins. (Politico)

Special counsel is investigating Trump for possible obstruction of justice, officials say (The Washington Post)

Democrats in Congress suing Trump, citing conflicts (USAToday)

Australia's Telstra says will cut 1,400 jobs in cost-cutting drive (Reuters)

     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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