Friday, July 28, 2017

Friday roundup (07-28-2017)

Italy passes Monte dei Paschi state rescue into law (Reuters)

Brazil posts record budget deficit for June (Reuters)

[In the United States,] The Fed is about to make a major policy change. Here's how it works (CNBC)

Wolves of Wall Street Rejoice as Trump’s Wave of Deregulation Begins: Since the recession, big banks have increased in size by 38 percent (The New York Observer)

Wells Fargo admits it wrongly charged customers for car insurance (CBSNews)

Trump Chief Of Staff Priebus Is Out — In Biggest White House Staff Shake-Up Yet (National Public Radio) Trump Ousts Chief of Staff Priebus, Installs Ret. Gen. Kelly (NBCNews)

The night John McCain killed the GOP’s health-care fight (The Washington Post) John McCain's 'No' Vote Sinks Republicans' 'Skinny Repeal' Plan: The Arizona veteran cast an unexpected vote against Mitch McConnell’s last-ditch proposal to partially repeal the Affordable Care Act, leaving the GOP once again without a way forward. (The Atlantic) Bully-in-Chief Gets Schooled in the Ways of Washington: What worked with hotel workers and real estate developers was the wrong approach to upper-chamber pols. (US News & World Report) GOP lawmakers openly defy president as frustration mounts [written prior to "skinny repeal" defeat] (The Washington Post) GOP senators who blocked Obamacare repeal call for cooperation with Democrats (CNBC) Epic Health Care Fail Wasn’t McConnell’s Fault; It Was Trump’s: If we’d had a president who knew some policy and didn’t go around offending everybody, this bill (or some bill) would have passed. So what now? (The Daily Beast)

Trump Organization employees must agree to keep info about Trump family secret (CBSNews)

Donald Trump Endorses Police Brutality In Speech To Cops: The president said law enforcement officers shouldn’t protect suspects’ heads when putting them into police cars. (The Huffington Post) Trump praises police violence to audience of laughing cops: Leader of the free world endorses “rough rides” like the one that killed Freddie Gray. (ThinkProgress)

Sally Yates: Protect the Justice Department From President Trump (The New York Times)

There are three branches of government, and two are in distress (The Washington Post)

     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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