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.

No comments:

Post a Comment