The Flint Water Disaster Shows Why We Need Markets

"The fact that officials are not held to similar standards as those in the private sector is why government grows. Perhaps the Michigan arrests will spur others. Lord knows, when it comes to government malfeasance and unaccountability, Flint, Michigan, is a small tip of the iceberg."

Bond Rout Fades With Futures Flat Ahead Of Payrolls; Pound, Yen, Oil Tumble

S&P futures are little changed following yesterday's rout even as Asian and European markets continued selling; the pound slid on poor factory data, the yen tumbled after the BOJ intervened to stabilize the JGB bond market, precious metals flash crashed early in the session, while the selloff in oil accelerated despite yesterday's massive inventory draw, although at least yesterday's sharp bond tantrum has stabilized.

14 Facts That Show America's System Of Public Education Deserves An 'F' Grade

"Considering how much we are putting into education, we should be producing the best students on the entire planet, but it just isn’t happening. Many refer to what is happening to our society as “the dumbing down of America”, and if we don’t get things fixed the United States is on course to become a second class nation."

EU Parliament Suspends Turkey Accession Talks

In the latest diplomatic escalation between the EU and Turkey, on Thursday the European Parliament voted to suspend Turkey's EU accession talks, which as a reminder have been dragging on for decades, if Ankara proceeds with its tplanned constitutional reform which grants sweeping powers to President Recep Erdogan.

Global Bond Rout Sends S&P Futures, European Stocks Sliding

S&P futures are sliding this morning, down 0.4% and tracking the accelerating decline in European and Asian stocks, driven by a move higher in global interest rates, which started with Japanese 10Y yields rising to 0.1% for the first time since February, but mostly Bund yields which spiked after tripping stops, and jumped as high as 0.53% for the first time since early 2016.

Bill Blain Finds A Conspiracy Theory Amid Europe's Bank Failures

"I so love conspiracy theories early on a Wednesday – the FT article wonders where all Popular’s money and collateral went? A bank with a net asset value of €10.8 bln in April 2016 was worth – 2bln in June 2017? There is even a suggestion an ambitious Spanish Finance Minister and regulators keen to test their powers and garner top jobs in Brussels forced the pace towards the gallows."

"Outraged" Trader Asks: "The World's Coming To An End, When Should We Buy The Dip?"

"I can no longer stand the word 'outraged'... Everyone is absolutely outraged at so many things that they’ve taken an evocative expression and rendered it trite. And it’s a worry because there are a lot of things we should be shouting about... The same goes for 'existential'... Not every issue is life or death."

Goldman's Commodity Unit Suffers Worst Q1 In A Decade

The leading commodities trader among global investment banks, Goldman Sachs, is assessing the future direction of its commodities business, following the worst start to a year in more than a decade...