Authored by Mike Shedlock via MishTalk.com,
The ECB claims that Target2 does not represent capital flight. Evidence says the ECB is wrong, especially for Italy and Spain.
I have discussed this previously, but let’s recap Target2 before taking a look at new charts.
Project Syndicate writer, Hans-Werner Sinn, explains why the ECB’s asset purchases and Target2 imbalances constitute “Europe’s Secret Bailout”.
Authored by Andrew Korybko via Oriental Review,
The EU’s policy of “replacement migration” is an economic failure and threatens to undermine China’s New Silk Road strategy for Europe by diminishing the continent’s much-needed consumer market potential, which should thereby serve as an impetus for Beijing to consider investing in social programs there as a means of encouraging replacement fertility for the EU’s citizens.
Authored by Scott Galloway op-ed via The Wall Street Journal,
Four tech giants - Amazon, Apple, Facebook and Google - have added $2 trillion to their combined market capitalization since the 2007-09 recession, a sum that approaches the GDP of India. The concentrated wealth and power of these companies has alarmed many observers, who see their growth as a threat not just to consumers and other businesses but to American society itself.
Submitted by Shant Movsesian and Rajan Dhall MSTA at FXDaily.co.uk
Following the confiscation of millions of ballots in recent days, and the Spanish governments' pressure on local mayors to deter the October 1st independence referendum, AP reports that the grassroots groups driving Catalonia’s separatist movement defied Spanish authorities on Sunday by distributing one million ballots for the vote that Madrid has called illegal and vowed to halt.
Jordi Cuixart, president of the separatist group Omnium Cultural, announced the ballots were being distributed during a rally in Barcelona.