Tuesday, July 4, 2017

Tuesday roundup (07-04-2017)

French PM warns of more cuts to tackle country's debt 'volcano': Edouard Philippe vows to end public spending ‘addiction’ and launch €50bn infrastructure investment programme (The Guardian)

EU clears Italy's $6 billion state bailout for Monte dei Paschi (Reuters) Italy Formally Takes Control of Monte dei Paschi (Dow Jones Newswires)

In debt? Reckless banks [in the UK] will STILL offer you a loan: Lenders are failing to carry out basic checks on new customers (The Daily Mail)

Jim Chanos: U.S. Economy is Worse Than You Think: The famed short-seller offers a mid-2017 reality check for “fake fiscal news,” economic pipe dreams, and “portents of even worse things” (Institute for New Economic Thinking)

U.S. Image Suffers as Publics Around World Question Trump’s Leadership: America still wins praise for its people, culture and civil liberties [June 26] (Pew Research Center)

Trump's next attack on democracy: mass voter suppression: The Trump administration’s ‘election integrity’ commission is declaring war on voters – our democratic legitimacy be damned [June 30] (The Guardian)

After Years of Growth, Automakers Are Cutting U.S. Jobs (The New York Times)

Give Us Back Google News Classic Design #googlenews (Economic Signs of the Times blog)

     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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