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.

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