Wednesday, August 2, 2017

Wednesday roundup (08-02-2017)

EU’s looming financial crisis: Desperate ECB demands harsh penalties on eurozone countries: THE European Central Bank (ECB) has called for greater punishments on those eurozone countries that fail to implement much need monetary reforms in a bid to ward off a looming financial crisis in the currency (The Express)

Eurozone producer prices log decline in June (Marketwatch)

[In the United States,] Mnuchin pushes for ‘clean’ debt ceiling boost (Politico)

Trump, GOP senators introduce bill to slash legal immigration levels (The Washington Post) Trump pushes to sharply cut the number of legal immigrants and move U.S. to a 'merit-based' immigration system (The Los Angeles Times) Trump says he wants immigrants 'who speak English' and won't 'collect welfare' (ABCNews)

Justice Dept. to Take On Affirmative Action in College Admissions (The New York Times) Trump administration reopens volatile debate over race and college admissions (The Washington Post) Trump DoJ to attack affirmative action in college admissions: NYT: Charlie Savage, reporter for The New York Times, talks with Joy-Ann Reid about his reporting on a memo that shows Donald Trump's Justice Department under Jeff Sessions intends to sue universities for discriminating against white people through affirmative action. (MSNBC) (Youtube)

Trump thinks the 'White House is a real dump,' report says (USAToday) [Versus Time magazine quoting the President in May as saying: "People have no idea the beauty of the White House. The real beauty of the White House." (Time)]

Mexican president denies calling Trump to praise border work [as the President claimed he did] (CBSNews)

Boy Scouts dispute Trump's "greatest ever" claim about his speech (CBSNews)

Those Calls to Trump? White House Admits They Didn’t Happen (The New York Times)

Trump signs Russia sanctions bill he blasts as 'clearly unconstitutional' (ABCNews) [The same Constitution states, in reference to the President: "Before he enter on the Execution of his Office, he shall take the following Oath or Affirmation:—'I do solemnly swear (or affirm) that I will faithfully execute the Office of President of the United States, and will to the best of my ability, preserve, protect and defend the Constitution of the United States.'" (Wikipedia)]

As the lies and contradictions mount, federal officials are deciding to simply ignore Trump (CNBC) Our Non-Unitary Executive (Lawfare blog) 8 things the Trump team denied, and then later confirmed (The Washington Post)

Chuck Todd: 'Why Should We Or The Public Take Them At Their Word For Anything?' (Crooks and Liars blog)

Trump embodies every one of the Seven Deadly Sins (USAToday)

Trump isn’t changing the Republican Party. The Republican Party is changing Trump. (The Washington Post)

Tillerson spurns $80 million to counter ISIS, Russian propaganda: The secretary of state won’t tap funding approved by Congress, angering officials. (Politico)

Donald Trump’s Pick For Key Bank Regulator Is A Foreclosure Kingpin, Of Course: Joseph Otting signed legal papers admitting the bank he ran forged documents to push Americans out of their homes. He also bought a mansion. (The Huffington Post)

An NSC Staffer Is Forced Out Over a Controversial Memo: The document charges that globalists, Islamists, and other forces within and outside the government are subverting President Trump’s agenda. (The Atlantic)

CGI to Cut 1,600 Jobs, Reshaping Workforce in Online Push (Bloomberg)

Molina to Cut Costs, Eliminate 1,500 Jobs Following Big Loss (Bloomberg)

Sabre Corp. is laying off more than 900 workers (The Star-Telegram of Fort Worth, Texas)

     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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