Thursday, July 20, 2017

Thursday roundup (07-20-2017)

The sheer scale of Italy's debt threatens global GDP (The Business Insider)

[In the United States,] Republicans lament an agenda in 'quicksand': GOP lawmakers’ mood is darkening as the August recess approaches and they’ve made little progress on their priorities. (Politico)

House GOP leaders face uphill budget battle: Republicans are far from the votes to pass a budget, which would seriously undermine their tax reform push. (Politico)

Senate GOP has only bad options on health care (Axios) Conservatives furious and plotting revenge for health-care fail (The Washington Post) Senate GOP’s latest health care push sputters: Even after a positive White House meeting, Republicans appear unlikely to find the votes to repeal Obamacare. (Politico)

Social Security is running out of money and time [Editorial] (The Chicago Tribune)

ExxonMobil has been fined for an 'egregious' violation of Russia sanctions while Tillerson was CEO (The Business Insider) Exxon sues U.S. over fine levied for Russia deal under Tillerson (Reuters)

Trump ends covert CIA program to arm anti-Assad rebels in Syria, a move sought by Moscow
(The Washington Post)

How the GOP Became the Party of Putin: Republicans have sold their souls to Russia. And Trump isn’t the only reason why. (Politico)

Big German Bank, Key to Trump’s Finances, Faces New Scrutiny
(The New York Times)

Trump’s Fury Erodes His Relationship With Sessions, an Early Ally (The New York Times) The humiliation of Jeff Sessions (FoxNews) Sessions plans to 'continue' as attorney general, despite Trump's expressing regret over nomination (ABCNews) NYT's Trump interview 'was an ongoing negotiation' (CNNMoney) Yes, Trump’s Attacks on His Justice Department Are a Huge Problem (NBCNews)

The Inadvisable President: Donald Trump is an impossible boss, demanding absolute personal loyalty—even when it conflicts with the law or other key principles—and offering little faithfulness in return. (The Atlantic)

[Former Trump Campaign Manager] Manafort Was in Debt to Pro-Russia Interests ["by as much as $17 million"], Cyprus Records Show (The New York Times)

Mueller Expands Probe to Trump Business Transactions (Bloomberg)

Here’s the Chain Reaction Trump Could Set Off by Trying to Fire Mueller (Bloomberg)

When McCain ran against Obama, he went out of his way to defend him as a 'decent person' (The Business Insider) (Youtube)

Top State cyber official to exit, leaving myriad questions (Politico)

Connecticut Sinks Deeper in Debt (Bloomberg)

State [of Alaska], municipalities face higher borrowing costs from falling credit ratings (KTOO)

     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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