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.

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