Central Perk: 6 nov. 2010

sâmbătă, 6 noiembrie 2010

Mish's Global Economic Trend Analysis

Bold-Faced Lies of the Day from Geithner, Bernanke

Posted: 06 Nov 2010 05:41 PM PDT

How can anyone take blatant liars seriously? How can anyone not know Bernanke and Geithner are blatant liars?

I have not figured out the answer to those questions but I can point out another round of lies from both Geithner and Bernanke.

Bernanke's Lie of the Day

MarketWatch reports Fed chairman: Increasing inflation not a goal

Some Fed critics have accused the bank of pursuing an inflationary strategy by adding trillions of dollars of credit into the nation's financial system. The Fed itself seemed to suggest inflation was too low in a policy statement two months ago.

Yet Fed Chairman Ben Bernanke said Saturday that the central bank's decision this week to purchase $600 billion in Treasury bonds is solely aimed at keeping U.S. interest rates low so the economy can grow.

"We are not in the business of trying to create inflation," Bernanke said at a forum in Georgia to discuss the role of the central bank in the U.S. economy.

Bernanke said prior actions indicated monetary policy was "insufficiently stimulative." He said the possibility of deflation, or falling prices, has posed a bigger threat.

Of course the Fed is in the business of producing inflation. It is their first and foremost goal, just as it is in Japan. Consequences, such as asset bubbles be damned.

Bernanke belongs on the cover of Mad Magazine with his "What me Worry?" attitude about asset bubbles. He could not spot a housing bubble even though it was obvious to practically everyone on the planet except the other members of the Fed, real estate agents, and home builders.

Geithner's Lie of the Day

Bloomberg reports Geithner Says U.S. Won't Use Dollar to Gain Economic Advantage

Treasury Secretary Timothy F. Geithner said the U.S. won't use the dollar as a trade weapon and he repeated his support for a "strong dollar" that plays a central role in the global economy.

"We will never use our currency as a tool to gain competitive advantage," Geithner told reporters today after a meeting of finance ministers from the Asia-Pacific Economic Cooperation group in Kyoto, Japan.

The Treasury chief said he believes the dollar, euro and yen are roughly in alignment with each other, and he said American policy makers understand the "special responsibility" the U.S. has for the world economy. "I'm happy to reaffirm again that a strong dollar's in our interest as a country," Geithner said.

If a strong dollar was in the best interest of the country, then Geithners would not be pressuring China to weaken it. Bernanke would not be out to destroy it.

I am delighted that Rand Paul won a senate seat. He will have a chance to stick it to Bernanke during the Fed Chairman's semi-annual ~~testimony~~ charade before Congress, formally known as the Humphrey Hawkins Testimony and Report.

Is Obama a Keynesian?

Let's try one more time. The last Youtube I posted was restricted.

This is one of the funniest things I have seen in a while.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Is Obama a Keynesian?

Posted: 06 Nov 2010 09:38 AM PDT

This is one of the funniest things I have seen in a while.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Your Weekly Address: Priorities On Taxes

Your Daily Snapshot for
Saturday, Nov. 6, 2010

Your Weekly Address: Priorities On Taxes

President Obama lays out his priorities for the coming discussion about tax cuts, calling for compromise but making clear he cannot accept $700 billion in deficits or an increase in middle class taxes.

Watch the video.

Weekly Wrap Up

Quote: “Encouraging news… not good enough” - President Obama on October jobs report: http://wh.gov/3Hi

The Way Forward: Following the election, the President speaks openly in a press conference about his hope for working with the new Congress going forward on the economy and other issues: http://wh.gov/3A8

Your West Wing Week Video: “Don’t Watch the Plasma Arc” http://wh.gov/3sW

The President's Trip to Asia: Jeff Bader, Senior Director for Asian Affairs, and Ben Rhodes, Deputy National Security Advisor for Strategic Communications, talk about the President’s upcoming trip to India, Indonesia, South Korea and Japan in a live video chat: http://wh.gov/3AR and Dan Pfeiffer debunks myths about warships: http://wh.gov/3sw

National Weatherization Day: Find out what's happening nationwide to save money for America’s homeowners by investing in energy efficiency: http://wh.gov/3Gw

October in Photos: A glimpse through the eyes of Pete Souza, Chief Official White House photographer, with this month’s photo of the day gallery: http://wh.gov/3GT

Calling the Giants: Behind-the-scenes video of the President calling the San Francisco Giants to congratulate them on their World Series win: http://wh.gov/3sf

TEACH: Reggie Love, Personal Aide to the President, talks about his favorite teacher in this video (HINT: It's not his football coach or his basketball coach): http://bit.ly/aKPiu2 Learn more at Teach.gov

Must See WHTV: New Media interns dig into 1,500 White House videos and emerge with their top 10 favorites. Watch them here: http://wh.gov/3HW

Cabinet Meeting: A download on the Cabinet meeting this week: http://wh.gov/3oK and a behind-the-scenes "Inside the White House" video: http://wh.gov/3CN

Get Updates

Stay Connected

This email was sent to e0nstar1.blog@gmail.com
Manage Subscriptions for e0nstar1.blog@gmail.com
Sign Up for Updates from the White House
Unsubscribe e0nstar1.blog@gmail.com | Privacy Policy
Please do not reply to this email. Contact the White House

The White House • 1600 Pennsylvania Ave NW • Washington, DC 20500 • 202-456-1111

Seth's Blog : Alienating the 2%

[You're getting this note because you subscribed to Seth Godin's blog.]

Alienating the 2%

When a popular rock group comes to town, some of their fans won't get great tickets. Not enough room in the front row. Now they're annoyed. 2% of them are angry enough to speak up or badmouth or write an angry letter.

When Disney changes a policy and offers a great new feature or benefit to the most dedicated fans, 2% of them won't be able to use it... timing or transport or resources or whatever. They're angry and they let the brand know it.

Do the math. Every time Apple delights 10,000 people, they hear from 200 angry customers, people who don't like the change or the opportunity or the risk it represents.

If you have fans or followers or customers, no matter what you do, you'll annoy or disappoint two percent of them. And you'll probably hear a lot more from the unhappy 2% than from the delighted 98.

It seems as though there are only two ways to deal with this: Stop innovating, just stagnate. Or go ahead and delight the vast majority.

Sure, you can try to minimize the cost of change, and you might even get the number to 1%. But if you try to delight everyone, all the time, you'll just make yourself crazy. Or become boring.