Wednesday, August 9, 2017

Wednesday roundup (08-9-2017)

Americans hold more credit-card debt than ever, and a 'major tipping point' isn't far off (The Business Insider) U.S. Credit-Card Debt Surpasses Record Set at Brink of Crisis (Bloomberg)

Even in North Korea crisis, retired general John Kelly is an apolitical force in a White House divided by ideology (The Washington Post)

Manafort’s Home Searched as Part of Mueller Inquiry (The New York Times) Why is the FBI so interested in Paul Manafort that agents were literally at his door before dawn? (The Washington Post)

Getting Trump Out of My Brain (The New York Times)

Lexmark announces 700 layoffs worldwide over next year (The Herald-Leader of Lexington, Kentucky)

     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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