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Articles by Reginald Blome
So, You Thought Slavery Was Dead? Think Again
Nearly 46 million human beings are subject to slavery, a new report released this week concluded. According to the third annual Global Slavery Index, which gathers and analyzes surveys conducted by Gallup, the number of people forced into “modern slavery,” or “human trafficking, forced labour, debt bondage, forced or servile marriage or commercial sexual exploitation,” rose from 35.8 million to 45.8 million since 2014 — a 28 percent increase.
Preview Of Today's ECB Announcement
With the ECB announcement due in a few minutes, followed by Draghi's press conference, today's ECB meeting should be a relatively dull affair as they are currently in 'wait and see' mode with regards to previous policy actions. As RanSquawk notes, general consensus among analysts is that the ECB are to keep rates on hold this month and avoid added stimulus.
Frontrunning: June 2
- The Obama administration will announce Thursday the federal government's first move to regulate high-interest, low-dollar "payday loans," a $38.5 billion market currently left to the states. (http://on.wsj.com/1TKWRh1) - Uber Technologies Inc raised $3.5 billion from the investment arm of Saudi Arabia, part of an arms race over the future of transportation that is attracting the world's largest technology companies and auto makers.
Offshore Bullion Storage or 3 eggs?
What does one hundred trillion dollars buy you? How about a mansion in every country, an airplane at every airport and a private island in every ocean? When Zimbabwe issued its infamous 100 000 000 000 000 dollar bill, it could buy 3 eggs on the day it was issued. A few days later, it could only buy one egg. Unbacked fiat/paper/credit, and nowadays electronic currency, has a poor track record.
And Another Week Of Selling: "In 2016, Equity Funds Have Lost The Largest Ever Outflow For The Asset Class"
For many weeks in a row now we have been asking, mostly jokingly, how with everyone else (both retail and "smart money") selling, and with stock buybacks sharply lower in recent months, is the market higher. Specifically, who is buying? This question is no longer a joke. After this week's 17th consecutive outflow by "smart money" funds (mostly on the back of surging hedge fund redemption), moments ago we got the latest Lipper fund flow data.
Erdogan Nears Absolute Power With Appointment Of Puppet Premier, Stripping MPs Of Immunity
When the news hit on May 5 that Turkey's Prime Minister Ahmet Davutoglu would unexpectedly stand down from his post as a result of sharply escalating fighting behind the scenes over president Tayyip Erdogan's relentless attempt to rule Turkey with virtually no checks and balances, the market was not happy, and the volatility of the Turkish Lira soared the most in the past decade.
Washington's "Empire Of Chaos" & The Cold War 2.0 'New Normal'
In his seminal 'Fall of Rome: And the End of Civilization,' Bryan Ward-Perkins writes, "Romans before the fall were as certain as we are today that their world would continue forever... They were wrong. We would be wise not to repeat their complacency.” The Empire of Chaos, today, is not about complacency. It’s about hubris – and fear.
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