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.

No comments:

Post a Comment