Tuesday, August 1, 2017

Tuesday roundup (08-01-2017)

Britain facing FINANCIAL CRISIS? Major warning as families take on £200BILLON of debt: BRITISH households have loaded up on £200billion of debt and could soon start to struggle with repayments, top ratings agency Moody's has warned. (The Express)

[In the United States,] Debt-ceiling talks between White House, Senate break up with no progress (The Washington Post blogs)

Republicans ignore Trump's Obamacare taunts: 'Until somebody shows us a way to get that elusive 50th vote, I think it's over,' one top GOP senator says. (Politico)

Four major US cities ring housing bubble alarm (CNBC)

John Kelly proves he can manage up on his first day as chief of staff (The Washington Post) Is Trump (Finally) Ready for a ‘Pivot’ to Presidential? (NBCNews)

Who’s really to blame for fake news? It may be President Trump [Editorial] (The Sacramento Bee) Making Sense of the Big WaPo Story and the False Statement (Talking Points Memo)

State Department considers scrubbing democracy promotion from its mission (The Washington Post)

How the Trump Administration Broke the State Department: Morale has hit rock bottom at Foggy Bottom, as American foreign service officers languish and Rex Tillerson builds a mini-empire. (Foreign Policy)

     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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