Tuesday, August 22, 2017

Tuesday roundup (08-22-2017)

Macron to urge euro zone reform on trip to Greece next month (Reuters)

Starved by drought, Rome’s water supply may not spring eternal (PBSNewshour) (Youtube)



US Navy collisions stoke cyber threat concerns (McClatchy Washington Bureau) US Navy 7th Fleet commander to be dismissed (CNN)

‘It’s a hard problem’: Inside Trump’s decision to send more troops to Afghanistan (The Washington Post)

Trump aides plot a big immigration deal — that breaks a campaign promise (McClatchy Washington Bureau)

McConnell, in Private, Doubts if Trump Can Save Presidency (The New York Times)

Nikki Haley says she had 'personal' talk with Trump about Charlottesville (Politico)

Why the White House Needs Another Bannon: Every GOP president needs an intellectual wrangler. Trump can’t succeed without one. (Politico)

Is Anybody Home at HUD?: A long-harbored conservative dream — the “dismantling of the administrative state” — is taking place under Secretary Ben Carson. (ProPublica)

‘You’re Fired’ may be harder than Trump thinks when it comes to federal workers (The Washington Post)

Yes, Work for Trump (National Review)

     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.

Monday, August 21, 2017

Monday roundup (08-21-2017)

1 in 3 Greeks misses income tax payment deadline in July, confiscations underway to plug hole (Xinhua)

UK credit and debit card spending ​growing​ at fastest rate since 2008: New figures showing borrowing is rising more than five times faster than earnings come after warnings from Bank of England (The Guardian) This Asset Manager Says U.K. Consumer Debt Bigger Challenge Than Brexit [Aug. 18] (Bloomberg)

China's Debt Swaps Surpass $100 Billion (Bloomberg)

Mitch McConnell: 'Zero chance' US fails to raise the debt ceiling (CNBC)

New Polls Show Trump’s Presidency Stands on Perilous Ground (NBCNews)

Secret Service depletes funds to pay agents because of Trump's frequent travel, large family (USAToday) Secret Service director cleans up comments on Trump travel demands (Politico)

Steve Bannon Readies His Revenge: The war on Jared Kushner is about to go nuclear. (Vanity Fair) Bannon Was Set for a Graceful Exit. Then Came Charlottesville. (The New York Times)

Unmasking the leftist Antifa movement (CNN)

     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.

Sunday, August 20, 2017

Sunday roundup (08-20-2017)

Britain's debt mountain to hit £2trillion in the longest run of budget shortfalls since Napoleonic times (This is Money)

[In the United States,] West Wing lurches into unknown after Bannon’s exit: Conservatives in Trump’s orbit are pushing back against the idea that the globalists are taking over. (Politico)

Breaking down Trump's chaotic month (CNN)



     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.

Saturday, August 19, 2017

Saturday roundup (08-19-2017)

Europe's 'ticking time bomb': Italy could DESTROY Eurozone as M5S soars in polls: ITALY'S growing debt crisis risks being a "ticking time bomb" that could tear the Eurozone apart, a political expert has said. (The Express)

[In the United States,] The Trumps Will Skip The Kennedy Center Honors Events Amid A Growing Celebrity Boycott: Two of this years honorees had said they would not attend any White House events in protest against Trump's politics. (BuzzFeed)

Trump applauds Boston protesters for 'speaking out against bigotry and hate' (CNN)

Trump Adviser Resigned Ahead of Negative Magazine Story: Billionaire investor Carl Icahn stepped down from an unpaid post as President Donald Trump's adviser on deregulation efforts just days before The New Yorker was preparing to publish a lengthy article detailing Icahn's potential conflicts. (The Associated Press) Carl Icahn’s Failed Raid on Washington: Was President Trump’s richest adviser focussed on helping the country—or his own bottom line? (The New Yorker)

How the Trump hotel has rewritten the rules of business — and politics — in Washington [Aug. 7] (The Washington Post)

The Rise of the Violent Left: Antifa’s activists say they’re battling burgeoning authoritarianism on the American right. Are they fueling it instead? (The Atlantic)

     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.

Friday, August 18, 2017

Friday roundup (08-18-2017)

[In the United States,] Icahn Quits White House Role After Conflict-of-Interest Questions (Bloomberg)

Steve Bannon returns to Breitbart after ouster from White House (CNNMoney) Steve Bannon is more dangerous outside the Trump White House than in it (Quartz) Bannon Is 'Going Nuclear': The ousted White House chief strategist is back at Breitbart News, and he’s planning to make mischief. (The Atlantic) Bannon: 'The Trump Presidency That We Fought For, and Won, Is Over.': Departed White House strategist speaks to THE WEEKLY STANDARD. (The Weekly Standard) Bannon's billionaire meeting [with Bob Mercer] to plot a path forward (Axios) The Reclusive Hedge-Fund Tycoon Behind the Trump Presidency: How Robert Mercer exploited America’s populist insurgency. [March 27] (The New Yorker)

Romney Tells Trump to Apologize for Causing ‘Racists to Rejoice’ (The New York Times) [Statement] (Facebook)

[All] 16 Members of White House Arts Committee Resign to Protest Trump (The New York Times) Members of White House presidential arts committee resigning to protest Trump’s comments (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.

Thursday, August 17, 2017

Thursday roundup (08-17-2017)

Why Elites Are Winning The War On Cash by James Rickards (ZeroHedge blog)

[In the United States,] Former CIA director slams Trump's 'despicable' comments in letter to CNN anchor (CNN)

Republican senators are striking back in Trump's public war of words (CNN) Sen. Corker isn’t the only Republican who’s increasingly questioning Trump’s stability (The Washington Post)

Mitch McConnell's secret fury over Charlottesville response highlights GOP's Trump dilemma (USAToday)

Trump’s lack of discipline leaves new chief of staff frustrated and dismayed (The Washington Post)

Trump Aides Agonize Over Their Futures in a Reeling White House (Bloomberg) We're getting texts, emails from White House insiders wondering if they want to stay: Axios (CNBC)

Donald Trump's approval rating lowest since taking office, Marist Poll shows (USAToday)

Trump's 7 months of self-destruction (Axios) Trump Comments on Race Open Breach With C.E.O.s, Military and G.O.P. (The New York Times) I Voted for Trump. And I Sorely Regret It. (The New York Times)

Trump’s Quick Response To Barcelona Attack Makes His Charlottesville Reactions Look Even Worse: He advises people to “study what General Pershing of the United States did to terrorists when caught’’ — a story with no basis in fact. (The Huffington Post) Donald Trump's lie about John Pershing is not only ignorant; it's dangerous for the fight against radical Islamic terrorism (The New York Daily News) Study Pershing, Trump Said. But the Story Doesn’t Add Up. (The New York Times) The Real Story Behind Donald Trump's Pig's Blood Slander [Feb. 24, 2016] (Time)

Spanish carrier Iberia to cut up to 955 more jobs (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.

Is it a recovery yet? (Weekly report, 08-17-17)

A recovery would be indicated by weekly initial jobless claims holding below 500,000, according to Linda Duessel, market strategist at Federated Investors in Pittsburgh. (Reuters)

IT'S A RECOVERY! (And it has been a recovery for every week since the Nov. 25, 2009 report, with the exception of the Aug. 19, 2010 report.)

"Initial jobless claims in the period running from Aug. 6 to Aug. 12 declined by 12,000 to 232,000, the Labor Department said Thursday." (Marketwatch)

SEE LAST WEEK'S POST HERE.

     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.

Wednesday, August 16, 2017

Wednesday roundup (08-16-2017)

One major way U.S. credit card debt is getting worse: American debt continues to rise, according to the New York Federal Reserve (Marketwatch)

US military leaders condemn racism after Charlottesville violence (CNN)

Trump economic councils disbanded after Charlottesville response (USAToday) What happened behind the scenes as Trump's business councils fell apart (CNNMoney)

Trump Rhetoric Empowers Dangerous Fringe Violence (The Cipher Brief) Trump Gives White Supremacists an Unequivocal Boost (The New York Times)

Trump’s Embrace of Racially Charged Past Puts Republicans in Crisis (The New York Times) Sen. Graham to Trump: 'Your words are dividing Americans' (CNN) Rubio to Trump: Your comments give white supremacists "a win" (Axios) GOP members of Congress criticize Trump's comments: 'We should never hesitate to call out hate' (CNN)




Shep Smith: Fox News Bookers Failed To Find A Republican Willing To Defend Trump (Crooks and Liars blog)



Fox & Friends Turns Emotional as Guests Bond Over ‘Morally Bankrupt’ Trump (Mediaite) Emotional interview: [Wendy Osefo and] Gianno Caldwell discuss President Trump's press conference on Charlottesville (Youtube)



White House aides wrestle with Trump’s race comments: There is a strong feeling of unease among some White House officials, including economic adviser Gary Cohn. (Politico)

Republicans, cut the outrage. It’s time to disown Trump. (The Washington Post blogs) People around Trump need to answer these hard questions (The Washington Post blogs) Time for My Fellow Republicans to Stand Up and Be Counted: Trump’s both-sidesism on neo-Nazis is an outrage. We need to say so—loudly. (Politico)

Obama’s Charlottesville Response, Boosted by Nostalgia, Becomes Most-Liked Tweet Ever (The New York Times) Quoting Mandela, Obama's Tweet After Charlottesville Is The Most-Liked Ever (National Public Radio)

Union Pacific lays off 500 managers, 250 other rail workers (The Associated Press)

     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.

Tuesday, August 15, 2017

Tuesday roundup (08-14-2017)

Fossil fuel subsidies are a staggering $5 tn per year: A new study finds 6.5% of global GDP goes to subsidizing dirty fossil fuels (The Guardian)

China’s debt boom could lead to financial crisis, IMF warns (The Telegraph)

Both Korean leaders, U.S. signal turn to diplomacy amid crisis (The Associated Press)

Maybe The Fed Should be Worrying About Deflation [in the United States] And Not Inflation (The Huffington Post)

Trump blows up damage control as he blames ‘both sides’ for Charlottesville: ‘My head is spinning,’ one White House aide says after the president also pins blame on the ‘alt-left.’ (Politico) Trump defends his Charlottesville statements: Alt-left shares blame (CNN)



Trump again blames all sides for Virginia violence in bizarre, chaotic news conference (CNBC) Trump Defends Initial Remarks on Charlottesville; Again Blames ‘Both Sides’ (The New York Times)

Republican strategist: 'Stunned' by Trump's remarks, which put GOP in 'very difficult situation' (CNBC) GOP is more likely to vent ‘personal disgust’ for Trump after Charlottesville [Aug. 13] (CNBC)

Trump calls business leaders who dropped off manufacturing council 'grandstanders' (ABCNews) Trump has now lost 6 members of his manufacturing council since Charlottesville (CNNMoney) AFL-CIO President Trumka steps down from Trump manufacturing council (CNBC) AFL-CIO chief leaves Trump's manufacturing council after president's latest remarks (CNNMoney)

“A non-answer in a moment like this is an answer”: John Oliver on Trump’s response to Charlottesville (Vox)

Fox News' Katherine Timpf: What Trump Said About Charlottesville Was 'Disgusting' (Crooks and Liars blog)



[Earlier] Fox News Host Slams Trump’s Response to Charlottesville (Watch) (Variety) Eboni K's Docket on POTUS Trump's Response to Charlottesville 8/14/17 (Youtube)



FBI and DHS Warned of Growing Threat From White Supremacists Months Ago: Trump doesn't want to call out white supremacists. The FBI already did. (Foreign Policy) The disturbing thread of white nationalism woven into the NRA’s rhetoric: If you pay attention to the rhetoric of gun rights groups, what happened in Charlottesville wasn't surprising. (ThinkProgress) Here’s What Really Happened In Charlottesville: Who came ready for violence? Was it on “many sides”? The answers are clearer on the ground. (BuzzFeed) Why the Charlottesville Marchers Were Obsessed With Jews: Anti-Semitic logic fueled the violence over the weekend, no matter what the president says. (The Atlantic)

Obama's tweet after Charlottesville one of most popular tweets ever (The Hill)

Trump Sees Job and Wage Gains Helping to Soothe Race Relations (Bloomberg)

New Trump-Russia emails could establish a 'devastating' legal entanglement for Paul Manafort (The Business Insider)

Steve Bannon's job has never been in more jeopardy, sources say (CBSNews)

RBS plans to cut 880 IT jobs by 2020, UK labor union says (CNBC)

     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.

Monday, August 14, 2017

Monday roundup (08-14-2017)

Factory slowdown dents confidence in eurozone economic boom (The Telegraph)

China’s economy loses steam as Xi takes aim at debt (South China Morning Post)

82% of Americans fear nuclear war with North Korea (Axios)

Trump approval falls to lowest level ever in Gallup poll (The Hill)

Trump denounces KKK, neo-Nazis as ‘repugnant’ as he seeks to quell criticism of his response to Charlottesville (The Washington Post) President Trump condemns hate groups as "repugnant" (CBSNews)



Pence condemns Charlottesville violence [Aug. 13]: U.S. Vice President Mike Pence condemns both 'extreme' sides of the ideological spectrum after violence in Chartlottesville, Virginia. No reporter narration. (Reuters)



Sessions Emerges as Forceful Figure in Condemning Charlottesville Violence (The New York Times) Sessions vows 'vigorous' action in wake of Charlottesville tragedy (CNN) Sessions’ Aggressive Response To Charlottesville Should Come As No Surprise (The Daily Caller) Don’t Be Surprised Jeff Sessions Is Taking The Charlottesville Violence Seriously: He’s a crime punisher first; his ideology comes second. (BuzzFeed)







Under Armour CEO Kevin Plank becomes the second CEO to leave Trump's manufacturing council in less than 24 hours (CNBC) [Earlier ...] Merck’s Frazier Is Lonely C.E.O. Voice Challenging Trump on Charlottesville (The New York Times) Merck’s C.E.O. Took a Stand. What About Other Executives? (The New York Times blogs)

White Nationalists Say Charlottesville Was Just a Beginning (Bloomberg)




Trump campaign emails show aide’s repeated efforts to set up Russia meetings (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.

Sunday, August 13, 2017

Sunday roundup (08-13-2017)

Prepare for negative interest rates in the next recession, says top economist (The Telegraph)

[In the United States,] Trump aides predicting 'brutal' September ["because of the confluence of complicated issues"]: Aides hope to use meetings in New York this week to figure out their plans for the debt ceiling, 2018 budget, tax reform, infrastructure spending and perhaps another stab at repealing Obamacare. (Politico)

Sessions opens federal probe on Charlottesville (Politico)

Civil rights leaders demand Trump disavow white supremacists (CNN)

Republican lawmakers encourage Trump to specifically call out white nationalists (FoxNews) Trump Saw 'Many Sides' While Some Republicans Saw White Supremacy, Domestic Terrorism (National Public Radio) Graham: Trump must do more to distance himself from white supremacists (The Hill) White House confronts backlash over Trump’s remarks on Charlottesville (The Washington Post) White House: Trump’s condemnation includes ‘white supremacists, KKK, neo-Nazi and all extremist groups’ (The Washington Post)



















Trump badly missed the mark on Charlottesville [Editorial] (The New York Post)

Ivanka Trump: 'No place for white supremacy' in America (The Hill)

Anti-McMaster campaign is about to get uglier (Axios)

Trump suspects Bannon of leaking, putting job in jeopardy (Axios)

     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.

Saturday, August 12, 2017

Saturday roundup (08-12-2017)

‘Toxic debt’ back in fashion (The Times of London)

Here’s what would happen if Trump ordered the [United States] military to nuke North Korea: No one could stop him. (Vox)

Trump barrage stuns McConnell and his allies (The Hill) Trump is torturing Mitch McConnell for sport. Here’s how McConnell can get revenge. (The Washington Post blogs)

Kelly considers further shuffling of West Wing staff, officials say: Steve Bannon's role is said to be under particular scrutiny in a review of communication and efficiency. (Politico) Trump gets a folder full of positive news about himself twice a day: It’s known as the “propaganda document” (Vice)

Pentagon's empty posts cause uncertainty for defense contractors (Reuters)

Interest in U.S. diplomatic corps tumbles in early months of Trump: The number of Americans taking the Foreign Service exam has fallen to the lowest in nearly a decade. (Politico)

Scott Pruitt Is Carrying Out His E.P.A. Agenda in Secret, Critics Say (The New York Times)

US Fossil Fuel Consumption Has Peaked, and Will Never Return (Medium)

The Grand Old Party’s Over. Make Way For The Trump Party.: The catastrophe that the Republican Party has brought down on itself with this president is of such a magnitude that it may never recover. (The Huffington Post)

Westinghouse furloughed 870 employees in fallout from the cancelled South Carolina nuclear project (The Pittsburgh Post-Gazette)

     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.

Friday, August 11, 2017

Friday roundup (08-11-2017)

Consumer debt [in the United States] is at a record high. Haven’t we learned? (The Washington Post)

USPS financial woes swell with $2.1B net loss last quarter (FoxBusiness) Postal Service calls for pricing hike as losses mount (USAToday)

Republicans have 'tough hill to climb' on tax reform, GOP strategist says (CNBC) Trump is wasting his congressional majority — like Jimmy Carter did (Vox)

Behind the Trump-McConnell feud: The president ratcheted up his feud with the Senate majority leader, signaling again that he's willing to sacrifice the appearance of unity to get what he wants. (Politico) Trump’s Twitter Fury at McConnell Risks Alienating a Key Ally (The New York Times)

Subsidizing The Fossil Fuel End Game — Beyond Incoherence: Always remember, the world’s richest governments are throwing taxpayer money at well-connected oil, gas and coal companies. (The Huffington Post)

Cox Automotive to cut 950 jobs worldwide (The Atlanta Journal-Constitution)

     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.

Thursday, August 10, 2017

Thursday roundup (08-10-2017)

REVEALED: Shock graph showing just how ECB has propped up DEBT ADDICTED Eurozone: THE eurozone has built up a dangerous addiction to debt, which is laid bare in a stark graph of the European Central Bank's (ECB) balance sheet. (The Express)

This Is What European Diplomats Really Think About Donald Trump: Interviews with six top officials paint a picture of a president who is regarded even by allies as erratic and limited, and whose shortcomings are compounded by the ongoing chaos beneath him in the White House. (BuzzFeed)

‘We’re at tipping point’ Italian MEP warns migrant crisis bringing EU to brink of collapse: A SENIOR Italian politician has warned that the European Union is once again hurtling towards the brink of collapse because of the renewed migration crisis and Brussels’ failure to effectively manage it. (The Express)

The euro zone’s third largest economy [= Italy] is causing major headaches for investors — and it might get a lot worse (CNBC)

[In the United States,] Trump reiterates warning to N. Korea: ‘Fire and fury’ may not have been ‘tough enough’ (The Washington Post) Deep Divisions Emerge in Trump Administration as North Korea Threatens War (The New York Times)







Trump Praises Putin Instead of Critiquing Cuts to U.S. Embassy Staff (The New York Times) Trump thanks Putin for expelling U.S. diplomats, infuriating State Department (Politico)







Trump couldn’t have picked a dumber fight [than with Senate Majority Leader Mitch McConnell] (The Washington Post blogs) Donald Trump is messing with the wrong man if he wants a legislative win (CNN)

With Bank Subpoenas, Mueller Turns Up the Heat on Manafort (Bloomberg) Former prosecutors: The FBI's raid of Paul Manafort's home was a clear sign they don't trust him (The Business Insider)

Trump’s Legal Team Is No Match for Mueller’s (Bloomberg Businessweek)

The debt ceiling train wreck [Editorial] (The Baltimore Sun)

Trump says he will declare opioid crisis a ‘national emergency’: 'We're going to spend a lot of time, a lot of effort and a lot of money on the opioid crisis,' Trump said Thursday. (Politico) Trump says opioid crisis is a national emergency, pledges more money and attention (The Washington Post)

The Congressional Map Has A Record-Setting Bias Against Democrats: And it’s not just 2018. (FiveThirtyEight)

Thousands of Asda workers face redundancy or reduced hours: UK’s third-largest supermarket targets staffing levels to cut costs after worst annual results since Walmart takeover (The Guardian)

South Jersey Company [Mortgate Lender PHH Corp.] Plans to Cut 2,250 Jobs (Philadelphia Business Journal)

     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.

Is it a recovery yet? (Weekly report, 08-10-17)

A recovery would be indicated by weekly initial jobless claims holding below 500,000, according to Linda Duessel, market strategist at Federated Investors in Pittsburgh. (Reuters)

IT'S A RECOVERY! (And it has been a recovery for every week since the Nov. 25, 2009 report, with the exception of the Aug. 19, 2010 report.)

"The number of people who applied for U.S. unemployment-insurance benefits rose by 3,000 to 244,000 in the week that ended August 5, the Labor Department reported." (Marketwatch)

SEE LAST WEEK'S POST HERE.

     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.

Wednesday, August 9, 2017

Wednesday roundup (08-9-2017)

Americans hold more credit-card debt than ever, and a 'major tipping point' isn't far off (The Business Insider) U.S. Credit-Card Debt Surpasses Record Set at Brink of Crisis (Bloomberg)

Even in North Korea crisis, retired general John Kelly is an apolitical force in a White House divided by ideology (The Washington Post)

Manafort’s Home Searched as Part of Mueller Inquiry (The New York Times) Why is the FBI so interested in Paul Manafort that agents were literally at his door before dawn? (The Washington Post)

Getting Trump Out of My Brain (The New York Times)

Lexmark announces 700 layoffs worldwide over next year (The Herald-Leader of Lexington, Kentucky)

     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.

Tuesday, August 8, 2017

Tuesday roundup (08-08-2017)

Darling: 'Alarm bells ringing' for UK economy (The BBC)

[In the United States,] Trump's 'fire and fury' threat to North Korea sparks new fears of war: Trump's comments drew a counter threat from North Korea, which said it is 'carefully examining' a preemptive strike on Guam. (Politico) Lawmakers slam Trump's 'fire and fury' toward North Korea (CNN) The Key to Countering North Korea Lies Offshore: China's demand that the U.S. cease joint naval exercises off the coast should be firmly rejected. (Bloomberg)

Trump White House weighs unprecedented plan to privatize much of the war in Afghanistan (USAToday)

Trump Is Losing His Battle With the Republican Party: The president’s major achievements all dovetail with longstanding GOP priorities, while nearly all of his distinctive policy proposals have stalled or failed. (The Atlantic)

What’s the Deal, Mr. Trump? [Editorial] (The New York Times)

Secrecy and Suspicion Surround Trump’s Deregulation Teams: ProPublica and The New York Times identify more possible conflicts of interest among appointees, as Democrats in Congress demand greater transparency from the White House. (ProPublica) Warren Blocks Trump’s Pick for Antitrust Chief (Bloomberg)

‘Trump Confidant’ Tells WaPo the President Only Has ‘Patience for a Half Page’ of Foreign Policy (Mediaite)

Japan Display may seek outside investor for turnaround: Nikkei [cutting 3,500 jobs] (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.

Monday, August 7, 2017

Monday roundup (08-07-2017)

How Bad Will It Be If We [in the United States] Hit The Debt Ceiling? by Paul Krugman (The New York Times blogs) Fight over Trump wall could lead to shutdown (Axios)

Trump’s unprecedented hands-on messaging carries risks (The Associated Press)

Trump claims his base is ‘bigger and stronger,’ but the numbers say otherwise (The Daily Dot)

Sainsbury's cost-saving measures will cut 1,000 head-office jobs: McKinsey, the management consultancy, is looking for ways that [the UK] supermarket can reduce its headcount in next round of efficiency drive. (The Guardian)

CPS Lays Off Nearly 1,000 Employees Ahead of New School Year (NBCChicago)

     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.

Sunday, August 6, 2017

Sunday roundup (08-06-2017)

Let’s not get carried away by the return in economic growth: There are definite signs of recovery but they are far from reaching a resolution (Project Syndicate)

This is what [Bank of England Governor] Mark Carney knows but dare not say out loud (The Business Insider)

China urges North Korea to be ‘smart’ and drop its missile tests (The Washington Post)

[In the United States,] White House Insists Trump Will Run in 2020 Amid Reports of Shadow GOP Campaign (Slate) Republican Shadow Campaign for 2020 Takes Shape as Trump Doubts Grow (The New York Times) Pence's sensitivity to talk of 2020 speaks to White House insecurity (The Los Angeles Times)







New Chief of Staff [John Kelly] Reins in White House Aides-and Trump's Tweets (Bloomberg)




Trump Is Definitely Not on Vacation, He Says as He Golfs, Crashes Weddings: Who are you going to believe: the president, or your own eyes? (Vanity Fair)




Watergate Veterans: ‘This Is History Repeating Itself’: ‘We wrote the book on what not to do’ with Watergate, says John Dean. Trump doesn’t seem to have any knowledge of what’s in that book. (The Daily Beast)




Diplomats Question Tactics of Tillerson, the Executive Turned Secretary of State (The New York Times)

     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.

Saturday, August 5, 2017

Saturday roundup (08-05-2017)

U.N. Security Council Imposes Punishing New Sanctions on North Korea (The New York Times) United Nations bans key North Korea exports over missile tests (Reuters)

Fresh fears China's debt bubble could burst (The Telegraph)

Only Ten Years After the Last Financial Crisis the Banks [in the United States] Are At It Again (Jesse's Café Américain blog)

Wells Fargo warns it may find 'significant increase' in unauthorized accounts (CNBC)

The retail apocalypse is heading straight for Kroger, Whole Foods, and Aldi (The Business Insider)

White House ‘Enemies List’ Drove McMaster-Bannon Feud: Two of the White House’s most senior officials are locked in a power struggle over influencing President Trump on national security—and an internal ‘enemies list’ may be to blame. (The Daily Beast) The War Against H.R. McMaster: Rumors have circulated for days that the national-security adviser’s job is on the line, and the pro-Trump media have launched an all-out assault against him. (The Atlantic)

     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.

Friday, August 4, 2017

Friday roundup (08-04-2017)

Ten years on, we’re getting into another debt crisis: The early signs of the 2007 credit crunch are back. With wages stalled and prices rising, more and more are turning to loans and plastic cards to make ends meet (The Guardian) ALBERT EDWARDS: The same problems that caused the financial crisis [in the US and UK] are back (The Business Insider)

[In the United States,] Bob Mueller Is Using a Grand Jury. Here’s What It Means. (Politico) What the Trump-Russia Grand Jury Means (The New Yorker) How important is it that Mueller has formed a grand jury? I asked 20 legal experts.: Everything you wanted to know about grand juries. (Vox) Why Robert Mueller’s Grand Jury Isn’t Really a Big Deal (Fortune)

The Russia investigation is getting serious — and President Trump is feeling the heat (The Washington Post)

Top FBI officials could testify against Trump: The acting head of the bureau told top officials to prepare. (Vox)

Trump is a one-man assault on the rule of law (The Washington Post) Donald Trump vs. The Rule of Law (The Huffington Post)




["Wehner served in the last three Republican presidential administrations (Ronald Reagan, George H. W. Bush, George W. Bush)." (Wikipedia)]

Trump Defends McMaster as Conservatives Seek His Dismissal (The New York Times) ‘Everything The President Wants To Do, McMaster Opposes,’ Former NSC Officials Say (The Daily Caller) Kelly gives McMaster cover in West Wing battles: Trump’s national security adviser has emerged as one of the most volatile personalities in White House. (Politico) Fake news purveyors, Twitter trolls, and Sean Hannity go all in against national security adviser McMaster (Media Matters)







Trump’s Generals Are Trying to Save the World. Starting With the White House.: The president has handed huge power to a group of military officers, and they’re out to solve two big problems: Obama's policies, and their boss. (Politico)




Pearson to cut 3,000 jobs, chop dividend (Marketwatch)

Bed Bath & Beyond to cut [about 880] in-store manager positions (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.

Thursday, August 3, 2017

Thursday roundup (08-03-2017)

Bank of England holds rates steady, forecasts two hikes over next three years (CNBC)

[In the United States,] Mueller impanels grand jury in Russia probe: report (The Hill) Mueller Plunges Across Trump's Red Line: A Wall Street Journal story claimed the investigation had moved before a grand jury, while CNN reported it was looking into potential financial crimes unrelated to the 2016 election. (The Atlantic) One year into the FBI's Russia investigation, Mueller is on the Trump money trail (CNN) Bipartisan bills unveiled [in Senate] to protect Mueller (Politico)

Kelly cracks down on West Wing back channels to Trump: The new White House chief of staff is making it his first priority to gain control over the information that gets to the president. (Politico)

Trump Says U.S. ‘Losing’ Afghan War in Tense Meeting With Generals (NBCNews)

Under Trump’s new immigration rule, his own grandfather likely wouldn’t have gotten in (The Washington Post)

By end of August, Trump will have spent three times as many days at leisure as Obama (The Washington Post)

More signs that Trump’s base is increasingly dissatisfied with his presidency (The Washington Post) Trump’s Base Support Begins To Erode (The Huffington Post)

Attorney general threatens to punish Stockton, San Bernardino and other 'sanctuary cities' (The Los Angeles Times)

Teva Pharmaceutical will cut 7,000 jobs and close plants to reduce costs (PhillyNews)

Jim Cramer had his prophetic TV meltdown exactly 10 years ago today - and debt levels are now back in the same place (The Business Insider) Cramer's 'They know nothing!' rant from 2007: The complete transcript (CNBC)

     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.

Is it a recovery yet? (Weekly report, 08-03-17)

A recovery would be indicated by weekly initial jobless claims holding below 500,000, according to Linda Duessel, market strategist at Federated Investors in Pittsburgh. (Reuters)

IT'S A RECOVERY! (And it has been a recovery for every week since the Nov. 25, 2009 report, with the exception of the Aug. 19, 2010 report.)

"Initial jobless claims from July 23 to July 29 declined by 5,000 to 240,000, the Labor Department said Thursday." (Marketwatch)

SEE LAST WEEK'S POST HERE.

     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.

Wednesday, August 2, 2017

Wednesday roundup (08-02-2017)

EU’s looming financial crisis: Desperate ECB demands harsh penalties on eurozone countries: THE European Central Bank (ECB) has called for greater punishments on those eurozone countries that fail to implement much need monetary reforms in a bid to ward off a looming financial crisis in the currency (The Express)

Eurozone producer prices log decline in June (Marketwatch)

[In the United States,] Mnuchin pushes for ‘clean’ debt ceiling boost (Politico)

Trump, GOP senators introduce bill to slash legal immigration levels (The Washington Post) Trump pushes to sharply cut the number of legal immigrants and move U.S. to a 'merit-based' immigration system (The Los Angeles Times) Trump says he wants immigrants 'who speak English' and won't 'collect welfare' (ABCNews)




Justice Dept. to Take On Affirmative Action in College Admissions (The New York Times) Trump administration reopens volatile debate over race and college admissions (The Washington Post) Trump DoJ to attack affirmative action in college admissions: NYT: Charlie Savage, reporter for The New York Times, talks with Joy-Ann Reid about his reporting on a memo that shows Donald Trump's Justice Department under Jeff Sessions intends to sue universities for discriminating against white people through affirmative action. (MSNBC) (Youtube)





Trump thinks the 'White House is a real dump,' report says (USAToday) [Versus Time magazine quoting the President in May as saying: "People have no idea the beauty of the White House. The real beauty of the White House." (Time)]




Mexican president denies calling Trump to praise border work [as the President claimed he did] (CBSNews)

Boy Scouts dispute Trump's "greatest ever" claim about his speech (CBSNews)

Those Calls to Trump? White House Admits They Didn’t Happen (The New York Times)

Trump signs Russia sanctions bill he blasts as 'clearly unconstitutional' (ABCNews) [The same Constitution states, in reference to the President: "Before he enter on the Execution of his Office, he shall take the following Oath or Affirmation:—'I do solemnly swear (or affirm) that I will faithfully execute the Office of President of the United States, and will to the best of my ability, preserve, protect and defend the Constitution of the United States.'" (Wikipedia)]

As the lies and contradictions mount, federal officials are deciding to simply ignore Trump (CNBC) Our Non-Unitary Executive (Lawfare blog) 8 things the Trump team denied, and then later confirmed (The Washington Post)

Chuck Todd: 'Why Should We Or The Public Take Them At Their Word For Anything?' (Crooks and Liars blog)



Trump embodies every one of the Seven Deadly Sins (USAToday)

Trump isn’t changing the Republican Party. The Republican Party is changing Trump. (The Washington Post)

Tillerson spurns $80 million to counter ISIS, Russian propaganda: The secretary of state won’t tap funding approved by Congress, angering officials. (Politico)

Donald Trump’s Pick For Key Bank Regulator Is A Foreclosure Kingpin, Of Course: Joseph Otting signed legal papers admitting the bank he ran forged documents to push Americans out of their homes. He also bought a mansion. (The Huffington Post)

An NSC Staffer Is Forced Out Over a Controversial Memo: The document charges that globalists, Islamists, and other forces within and outside the government are subverting President Trump’s agenda. (The Atlantic)

CGI to Cut 1,600 Jobs, Reshaping Workforce in Online Push (Bloomberg)

Molina to Cut Costs, Eliminate 1,500 Jobs Following Big Loss (Bloomberg)

Sabre Corp. is laying off more than 900 workers (The Star-Telegram of Fort Worth, Texas)

     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.