Wednesday, July 26, 2017

Wednesday roundup (07-26-2017)

IMF says ECB should maintain stimulus, calls for end are 'premature' (Reuters)

[In the United States,] Trump now says he wants to tax the rich (CNNMoney)

GOP momentum grows for more modest plan to overhaul Obamacare (The Washington Post) Bipartisan Group Of Governors Warns Senate Not To Pass ‘Skinny’ Obamacare Repeal Bill: One key Republican senator may be paying close attention. (The Huffington Post) Senate rejects plan to repeal parts of Obamacare without replacement (CNBC)

Trump talks privately about the idea of a recess appointment to replace Sessions (The Washington Post) The Strange, Slow-Motion Defenestration of Jeff Sessions: Why is President Trump badmouthing his attorney general, why doesn’t he just fire him, and what does he hope to accomplish by pushing him out? (The Atlantic)

Poll: Voters say Mueller ouster would be inappropriate (Politico)

To America, It Looks Like Chaos. For Trump, It’s Just Tuesday.: The president makes a mess, then makes it worse. It’s what he’s always done. (Politico)

A Trump Tower of Absolute Folly (The New York Times)

Student loan borrowers, herded into default, face a relentless collector: the U.S. (Reuters) Student Loan Debt Hurts Economy, Consumers, and Retirement Savings (The Huffington Post)

Loan default rate for risky retailers jumps above 5%; Fitch Ratings (Marketwatch)

     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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