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The Next Financial Crisis

Various authors New Internationalist
As we approach the ten year anniversary of the great recession, leading economists talk about where the next crisis might come from. Workers bear the brunt of crises, but they also could be the cause that provokes the system to falter.

Trump’s Financial Arsonists: The Next Financial Crisis -- Not If, But When

Nomi Prins Tom Dispatch
Written one week before the current Wall Street tumble, economist Nomi Prins writes: Watch out. Even in the seemingly best of times, neglecting Wall Street is a dangerous idea. With a rag-tag Trumpian crew of ex-bankers and Goldman Sachs alumni as the only watchdogs in town, it’s time to focus, because one thing is clear: Donald Trump’s economic team is in the process of making the financial system combustible again.

Puerto Rico Is Getting Squeezed, and It Will Cost All of Us

Anamaria Lopez Institute for New Economic Thinking
The path of austerity could spread economic pain and social woes far beyond the Caribbean island, says public debt expert Martin Guzman. 1,000 miles off the coast of Florida, a small Caribbean island of 3.4 million American citizens is facing its worst economic crisis since coming under U.S. rule in 1898. In the short term, austerity aggravates the recession and reduces opportunities.

Tidbits - August 4, 2016 - Reader Comments: 2016 - Clinton, Democratic Convention, left electoral strategy, climate change, Jill Stein, Leonard Peltier, Hiroshima, Nagasaki, and more...

Portside
Reader Comments: 2016 Election Campaign - After the DNC, Hillary, Jill and the Donald; The Election and After - Strategy for this election AND going forward; Climate Change policy needs to be front and center; Campaign for Leonard Peltier's freedom; Ireland and Iceland set the example - jailing bankers that caused meltdown; Hiroshima and Nagasaki memorials at the UN and in New York; Letters to the Wall - What the Vietnam War was all about; and more . . . .

Greek Lesson: We Need a European Spring

Yanis Varoufakis New York Times
Across Europe, people are fed up with a monetary union that is inefficient because it is so profoundly undemocratic. This is why the battle for rescuing Greece has now turned into a battle for Europe’s integrity, soul, rationality and democracy by setting up a Pan-European political movement, inspired by the Athens Spring, that will work toward Europe’s democratization.

After Years of Not Prosecuting Banks, Eric Holder Returns Home to Defend Them

Lee Fang The Intercept
After failing to criminally prosecute any of the financial firms responsible for the 2008 market collapse, former Attorney General Eric Holder is returning “home” to Covington & Burling, a corporate law firm known for serving Wall Street clients, including four of this country’s largest banks. The move completes one of the more troubling trips through the revolving door for a cabinet secretary. Covington literally kept an office empty for him, awaiting his return.
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