Monday, January 30, 2023

Monday roundup (01-30-2023)

Russia warns United States: the end of nuclear arms control may be nigh [. . . in 2026] (Reuters)

Putin has paved the way for Ukrainian membership in NATO by Boris Johnson (The Washington Post)

Brazil's Jair Bolsonaro applies for 6-month U.S. visitor visa ["indicating he may have no immediate intention of returning home, where legal issues await"] (Reuters)

[In the United States,] Manhattan Prosecutors Begin Presenting Trump Case [Involving Payment to Porn Star Stormy Daniels] to Grand Jury: The Manhattan district attorney’s decision represents a dramatic escalation of the inquiry, and potentially sets the case on a path toward criminal charges against the former president. (The New York Times) Donald Trump's Former Fixer Now One of His Greatest Threats (Newsweek) [Harry Litman interviewed] (Twitter) [Michael Cohen interviewed] (Twitter)

Far-right project that pushed election lies expands mission as Trump ramps up 2024 campaign: ReAwaken America faces criticism from religious leaders as it pushes disinformation using Christian nationalist messages (The Guardian)

On violent policing, we say ‘never again’ but we get ‘once again’ [Editorial] (The Washington Post)

Philips to cut 13% of jobs in safety and profitability drive [= 6,000 jobs] (Reuters)

Electric vans startup Arrival to cut 800 jobs amid focus on US market: British firm hopes to benefit from Joe Biden’s green energy subsidies and start production in north Carolina (The Guardian) [Meanwhile,] Trump Trashes Electric Vehicles Standing in Front of GOP Governor Who Supports Them: South Carolina Gov. Henry McMaster has taken executive action to bring electric vehicle manufacturers and related jobs to his state [Jan 28] (Rolling Stone)

Groupon to lay off another 500 employees as struggling Chicago-based online marketplace continues to downsize (The Chicago Tribune)

     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.

Sunday, January 29, 2023

Sunday roundup (01-29-2023)

McCarthy and Biden to meet on spending and debt ceiling; McCarthy says there will be no default: The speaker said the president had to "find compromise" with House Republicans. (ABCNews) McConnell, Senate GOP happy to sit out debt limit talks — for now (TheHill) Lots of sound and fury on US debt, but not a crisis — yet (The Associated Press)

     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.

Saturday, January 28, 2023

Saturday roundup (01-28-2023)

To Fix Its Problems in Ukraine, Russia Turns to the Architect of the War: President Vladimir V. Putin is on his third overall commander in Ukraine. But his military’s fundamental issues have not been addressed, Western officials say. (The New York Times)

America’s Image Abroad Rebounds With Transition From Trump to Biden: But many raise concerns about health of U.S. political system [Jun 10, 2021] (Pew Research Center) [Brian Klaas tweet] (Twitter)

Yellen warns of debt ceiling "catastrophe" for U.S. and beyond (Axios)

Scandals aside, it’s absurd that we’re still putting classified info on paper: We track local library books better than we manage classified White House documents. It’s time to do something about that. by Frank Figliuzzi (MSNBC)

Trump’s Evolution in Social-Media Exile: More QAnon, More Extremes: The former president, now free to post again on Facebook and Twitter, has increasingly amplified far-right accounts on Truth Social. Experts on extremism worry that he will bring this approach to a far wider audience. (The New York Times)

Memphis police permanently disband unit tied to deadly beating of Tyre Nichols (CNN) From Sacramento to Memphis, Tyre Nichols Cut His Own Path: Social media posts show that Mr. Nichols harbored a mistrust of prevailing government and economic systems, yet, a friend says, he also considered trying to change policing from the inside. (The New York Times) Paul Butler: “This is warrior policing on steroids” [VIDEO] (MSNBC) [Stonekettle tweet] (Twitter) [Stonekettle thread] (Twitter)

Paul Pelosi attacker David DePape makes chilling call to TV station: 'I'm so sorry I didn't get more of them': David DePape says 'you're welcome' for attacking Paul Pelosi in his San Francisco home, after bodycam video released Friday [if link fails to open, highlight it and touch enter] (FoxNews)

Investigations and complaints facing George Santos could bring serious penalties: The congressman said he's no "criminal" and intends to serve.(ABCNews) [Marc E Elias tweet] (Twitter) [Marc E Elias tweet] (Twitter)

     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.

Friday, January 27, 2023

Friday roundup (01-27-2023)

‘The big battle is coming’: Ukrainian forces prepare for the war’s most intense phase: Russia and Kyiv both need a breakthrough but a major offensive will be loaded with risk whoever strikes first (The Guardian)

How a MAGA Split With Big Business Could Break the [United States] Economy: The pro-business Republicans who were friendly with the Chamber of Commerce have slowly disappeared from Congress. Now there may not be anyone left to raise the debt limit. (The Daily Beast)

A Nationwide Fight Over Food Insecurity Is Just Beginning: From a draconian new proposal in Iowa to farm bill deliberations in Washington, the ideological battles over food aid will soon kick off—and no one knows who will end up paying the price. (The New Republic)

Supreme Court did not disclose financial relationship with expert brought in to review leak probe (CNN) [Quinta Jurecic tweet] (Twitter)

Hold John Eastman accountable for Trump’s coup strategy (The Los Angeles Times)

Roger Stone Deserves More Scrutiny for His Role in the Events Leading to January 6: Stone incorporated violent extremist groups into the “Stop the Steal” effort, which was itself a product of his warped political mind writes columnist Jennifer Cohn in the first of a three-part series. (Bucks County Beacon)

Trump’s Killing Spree: The Inside Story of His Race to Execute Every Prisoner He Could: Before 2020, there had been three federal executions in 60 years. Then Trump put 13 people to death in six months (RollingStone)

Justice Department asks FEC to stand down as prosecutors probe Santos: The request is the clearest sign to date of an active criminal investigation examining the congressman’s campaign finances (The Washington Post) We Tried to Call the Top Donors To George Santos’ 2020 Campaign. Many Don’t Seem To Exist.: The list of matters to investigate keeps growing. (MotherJones) What to know about George Santos and his campaign finance issues as questions grow (CNN)

See the evolution of lies in George Santos’s campaign biography (The Washington Post)

Former Fox News employee sues network, alleging Roger Ailes sexually abused her: Laura Luhn filed suit against Fox News, its former parent firm and ex-network executive Bill Shine, accusing the network of “enabling” and “covering up” abuse. (NBCNews)

Why we remember: Stop hate before it turns to horror, a lesson from the Holocaust by Mimi Rocah (The New York Daily News)

     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.

Thursday, January 26, 2023

Thursday roundup (01-26-2023)

Biden blasts House GOP for trying to ‘destroy’ economy over debt ceiling: Speaking in Virginia, the president touted his agenda — and new economic indicators showing growth — as he promised to veto GOP legislation (The Washington Post) [Elizabeth Warren interviewed] (Twitter)

National Archives asks past presidents, VPs to look for classified items (The Washington Post)

How Barr’s Quest to Find Flaws in the Russia Inquiry Unraveled: The review by John Durham at one point veered into a criminal investigation related to Donald Trump himself, even as it failed to find wrongdoing in the origins of the Russia inquiry. (The New York Times)

Santos treasurer a no-show (Newsday)

Bed Bath & Beyond warns it can't pay down debts, defaults on credit line (CNBC)

[Germany's] SAP to cut 3,000 jobs, explore Qualtrics stake sale (Reuters)

Dow forecasts dour quarterly revenue, says will slash 2,000 jobs (Reuters)

     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.

Initial jobless claims (Weekly report, 01-26-23)

The purpose of this weekly post is to watch how initial jobless claims in the United States are trending (up or down) and to keep track of whether the numbers are holding below 500,000, which would indicate at least the appearance of a fairly healthy economic situation.

"Initial jobless claims [fell] by 6,000 to 186,000 in the week ended Jan. 21, the U.S. Labor Department said Thursday." (Marketwatch)

SEE LAST WEEK'S POST HERE.

     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.

Wednesday, January 25, 2023

Wednesday roundup (01-25-2023)

EU risk watchdog warns of market stress from commercial real estate (Reuters)

US, Germany to send advanced tanks to aid Ukraine war effort (The Associated Press) How Biden Reluctantly Agreed to Send Tanks to Ukraine: The decision unlocked a flow of heavy arms from Europe and inched the United States and its NATO allies closer to direct conflict with Russia. (The New York Times) Russia fumes at West's decision to send tanks to Ukraine, says red lines have been crossed (CNBC) Sending tanks to Ukraine makes one thing clear: this is now a western war against Russia: Volodymyr Zelenskiy is finally getting the help he wants, but it places more of Ukraine’s future in US hands (The Guardian)

Goldman Sachs says even a near-default on US debt could spark a recession and market mayhem (CNN)

Democrats have a two-part plan to use the debt ceiling against Republicans (The Washington Post)

House GOP considering ‘clean’ short-term debt limit suspension: One tactic could be to line up ‘x date’ with the end of the fiscal year on Sept. 30 (RollCall)

Republicans' plans to slash Social Security and Medicare are becoming clearer: 'We have no choice but to make hard decisions' (Insider)

Stefanik: Rooting Out Deep State Corruption Is A Top Priority For House Republicans (The Federalist) [Deadline White House opening segment] (Twitter)

Marjorie Taylor Greene aims to be Trump's VP pick in 2024: "She sees herself on the short list for Trump's VP," said former Trump aide Steve Bannon, who has spoken with Greene. (NBCNews) How Kevin McCarthy Forged an Ironclad Bond With Marjorie Taylor Greene: The close alliance that has developed between the speaker and the hard-right Georgia Republican explains his rise, how he might govern and the heavy influence of the extremes on the new House G.O.P. majority. [Jan. 23] (The New York Times) [The Lincoln Project tweet, with video] (Twitter) [Tim Miller interviewed] (Twitter)

Trump Randomly Posts About Great Pleasure of Firing Top Adviser Despite Her ‘Nice Scarves’ (Mediaite) Criticized by science community and Trump, Deborah Birx said she ‘always’ considered quitting [Jan 22, 2021; Trump presidency had just ended; no mention of her being fired] (The Washington Post) [Spiro's Ghost tweet] (Twitter)

Trump declares himself the winner of his own club championship - in the Trumpiest way ever: The former president said he played a strong round two days before the tournament, and decided that would count as his first-round score. (The Palm Beach Post)

Rep. George Santos now says campaign loan didn't come from his personal funds: The embattled New York Republican, whose campaign finances are being investigated, amended his filings Tuesday. (NBCNews) Mystery Deepens Around George Santos’s $700,000 in Campaign Loans: In amended campaign finance reports, Mr. Santos seemed to suggest that the loans did not come from his personal funds, as he had originally stated. [-- "Brett G. Kappel, a leading elections lawyer who advises both Democrats and Republicans on campaign finance issues, said": "The only other permissible source would be a bank, and they would require collateral for a loan of this size. If a bank wasn’t the source of the funds, then the only alternatives are illegal sources."] (The New York Times) The improbability of George Santos’ $199 expenses: The vast majority of congressional campaigns never recorded a single disbursement of $199, just below the level requiring preservation of receipts. (Politico) George Santos’ New Treasurer Wants You to Know He’s Not George Santos’ Treasurer: “We informed the Santos campaign on Monday that Mr. Datwyler would not be interested in serving as their treasurer.” (MotherJones)

It Took a ‘Good Guy Without a Gun’ to Disarm the Monterey Park Shooter (Time) [The New York Times tweet, with video of action] (Twitter)

IBM cuts 3,900 jobs, misses annual cash target (Reuters)

     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.