luni, 22 septembrie 2014

Seth's Blog : But the Beatles were out of tune

 

But the Beatles were out of tune

The pedant (that's what we call someone who is pedantic, a picker of nits, eager to find the little thing that's wrong or out of place) is afraid.

He's afraid and he's projecting his fear on you, the person who did something, who shipped something, who stood up and said, "here, I made this."

Without a doubt, when the Beatles played Shea Stadium, Paul was a little out of tune. Without a doubt, the Gettysburg Address had one or two word choice issues. Without a doubt, that restaurant down the street isn't perfect.

That's okay. They made something. 

Sure, make it better, by all means put in the time to bring us your best work. But no, of course not, no, the pedant is not our audience, nor is he making as much of a difference as he would like to believe.

News for those to seek to make something: Shopify has run a build-a-business competition every year, and I was lucky enough to be involved a few years ago. Next year, Sir Richard Branson and a few other mentors are going to be offering advice and coaching to the winners on his island (!) for a week. I wanted to let you know that I'll be making a surprise appearance (as a benefit for Acumen), running a special seminar for the winners there next September. Check it out--looking forward to seeing what you build.

       

 

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duminică, 21 septembrie 2014

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Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


Sarkozy the Self-Appointed Savior Has "No Choice", Must "Reconquer" Voters to Save France

Posted: 21 Sep 2014 07:15 PM PDT

Arrogance cost former French president Nicolas Sarkozy the election in 2012.

Judging from statements he made today, he's just as arrogant, if not more so today. He even brags of a bigger Facebook audience than Francois Hollande and his UMP party opponents, ignoring the fact that 60% of the electorate does not want him to run again.

Self-Appointed Savior Has "No Choice"

The Financial Times reports Sarkozy Pledges to Win Voters Back from French Far-Right.
In a television interview, the former centre-right president who failed to get re-elected in 2012, said: "I am going to reconquer those French people," referring to the voters who in May helped the FN become the country's most successful party in EU elections.

Mr Sarkozy, who on Friday confirmed his long-awaited return to politics less than three years after vowing to never again return to public life, said that his reappearance was due to necessity.

"I had no choice," he said.
Less Energy, More Wisdom, More Facebook Hits

The Guardian reports Nicolas Sarkozy Sets Out Comeback Plans for France's UMP party on TV
The former French president Nicolas Sarkozy was given a prime-time television news slot to explain his plans after announcing his return to frontline politics. Sarkozy set out his platform for the race to head the opposition UMP party, which will hold a hotly contested leadership vote in November.

For Sarkozy: The Return Part II, he was given 45 minutes to reintroduce himself to the French public.

If viewers had expected a changed, wiser and less confrontational Sarko, they were to be disappointed. Asking the presenter – twice – if he imagined that the former French leader had "just two brain cells", Sarkozy launched into a vigorous defence of his five years in power and a vehement attack on the state of France and the current Socialist government.

Saying he had "perhaps less energy, but more wisdom", Sarkozy explained that he felt duty-bound to return not through personal ambition, but because of the "lack of hope, the anger and the absence of vision" that François Hollande's government had imposed on his compatriots.

Despite his protestations of apparent humility, Sarkozy, 59, said his announcement had eclipsed those of his UMP rivals. He told the JDD: "My audience on Facebook doubled that of Hollande's press conference, and in a single day I've gained more new friends than [political rivals] Juppé and Fillon put together," he said. "I've read that one third of people are interested in my return. That's still 20 million people. How many would Hollande, Juppé or Fillon get if the same question was asked of them?"

A poll by CSA for the television chain BFMTV before the televised interview on Sunday evening found that six out of 10 French voters disapprove of his comeback.
Flashback May 6 2012

The Daily Mail reports Vulgar, rude and egotistical, President Bling-Bling has met his Waterloo.
Few will mourn the departure of a man who promised so much but delivered so little with his strutting cockiness and super-rich friends.

Nicolas Sarkozy made the right moves politically on the road to the presidency. But then came so many wrong moves in office, starting on the night of his election triumph when he celebrated with rich supporters at one of Paris's most expensive restaurants before jetting off to continue partying on the big yacht of a billionaire businessman.

This set the tone for his tenure. He gave himself a 140 per cent pay rise, taking his annual salary above £300,000, then used state funds for late payment fines on his utility bills and £660 a day on fresh flowers

He spent £240million kitting out a new presidential plane, complete with £1million soundproofed doors on a luxurious double bedroom and £60,000 bread ovens to ensure fresh-baked baguettes. Then he became embroiled in a series of financial scandals, including claims he took illegal donations from the elderly heiress to the L'Oreal fortune.

Then there were pictures of the president checking his Blackberry during an audience with the Pope, which infuriated Roman Catholics, or the notorious occasion he swore at someone who disagreed with him at an agricultural fair.

'His behaviour is vulgar, I'm afraid,' said former defence minister Alain Richard.

'He has lost millions of older and conservative voters with his bad manners. They just do not think it is presidential behaviour.'

During the campaign Mr Sarkozy apologised for his actions. But there was derision when his wife, who earned nearly £5million a year at the height of her modelling career, insisted they were modest folk who just liked watching soap operas.

The campaign culminated with another controversial meal when Mr Sarkozy joined 50 guests at a fund-raising lunch of quails' eggs and blue lobster in Paris's most expensive hotel. Afterwards, he was caught on camera slipping off his £50,000 gold watch, a present from his wife.
What's Changed?

Nothing.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

ECB Executive Board Urges Germany to Borrow and Spend

Posted: 21 Sep 2014 07:36 AM PDT

In a foolish as well as never-ending attempt to prevent price deflation and revive growth, the ECB Urges Berlin to Cut Taxes and Spend.
Berlin has hit back at calls from a top European Central Bank official urging Germany to spend more to help the eurozone escape from its economic malaise.

In one of the most politically charged statements to come from the central bank, Benoît Cœuré, a member of the ECB's executive board, urged Berlin to increase borrowing in order to support investment and cut taxes.

The article follows calls by ECB president Mario Draghi last month for governments to match the central bank's steps in loosening monetary policy with growth-boosting measures. However, Mr Cœuré and Mr Asmussen have gone further than Mr Draghi, who stopped short of asking Germany to raid its fiscal coffers.

The German government reacted angrily at the op-ed, which comes ahead of French prime minister Manuel Valls' visit to Germany on Monday.

"The article does not reflect current government policy and we don't agree," a spokesperson for Germany's finance ministry said. "Complaints that the German government supposedly does not invest enough are unfounded. We do invest significantly."
One must differentiate between the official views of the ECB and the views of a pair of ECB governors  and that of Mario Draghi.

Nonetheless, the position of Benoît Cœuré closely matches that ECB president Mario Draghi who hopes to spur lending, especially to SMEs (small and medium-sized businesses) via a trillion euro TLTRO scheme. 

The only difference is that Draghi did not come out and say Germany specifically. Draghi simply wants more spending across the board.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com 

Seth's Blog : Producers and consumers

 

Producers and consumers

In the short run, it's more fun to be a consumer. It sure seems like consumers have power. The customer is always right, of course. The consumer can walk away and shop somewhere else.

In the long run, though, the smart producer wins, because the consumer comes to forget how to produce. As producers consolidate (and they often do) they are the ones who ultimately set the agenda.

Producers do best when they serve the market, but they also have the power to lead the market.

The more you produce and the more needs you meet, the more freedom you earn.

       

 

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sâmbătă, 20 septembrie 2014

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


French Farmers Upset Over Falling Prices, Torch Tax and Insurance Offices, Dump Produce

Posted: 20 Sep 2014 10:18 AM PDT

As a direct result of sanctions on Russia, there is an overabundance of fruits and vegetables in France, Spain, Poland, and elsewhere in Europe. Basic law of supply and demand dictates prices of crops would fall. And they did.

While most foolishly want to stick it to Russia, few actually are willing to pay the price if it affects them.

Here is another case in point: French Farmers Torch Tax Office in Brittany Protest.
French vegetable farmers protesting against falling living standards have set fire to tax and insurance offices in town of Morlaix, in Brittany. The farmers used tractors and trailers to dump artichokes, cauliflowers and manure in the streets and also smashed windows, police said.

Prime Minister Manuel Valls condemned protesters for preventing firefighters from dealing with the blaze.

The farmers say they cannot cope with falling prices for their products.

A Russian embargo on some Western goods - imposed over the Ukraine crisis - has blocked off one of their main export markets.

About 100 farmers first launched an overnight attack on an insurance office outside Morlaix, which they set light to and completely destroyed, officials said. They then drove their tractors to the main tax office in the town where they dumped unsold artichokes and cauliflowers, smashed windows and then set the building on fire.
Everyone Loses

The French protest underscores the stupidity of sanctions. No one wins. Russia does not get fruits and vegetables, but European growers lose income.

France actually the worst end of it, with a tax office destroyed and widespread discontent spreading. In Russia, support for Putin is at all-time high.

Sanctions will never work.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com 

The World Is United in the Fight Against ISIL

 
Here's what's going on at the White House today.
 
 
 
 
 
  Featured

Weekly Address: The World Is United in the Fight Against ISIL

In this week's address, the President thanked Congress for its strong bipartisan support for efforts to train and equip Syrian opposition forces to fight ISIL. This plan is part of the President's comprehensive counter-terrorism strategy to degrade and destroy the terrorist group, and does not commit our troops to fighting another ground war. America, working with a broad coalition of nations, will continue to train, equip, advise, and assist our partners in the region in the battle against ISIL.

In the coming week, the President will speak at the United Nations General Assembly and continue to lead the world against terror, a fight in which all countries have a stake.

Click here to watch this week's Weekly Address.

Watch: President Obama delivers the weekly address.


 
 
  Top Stories

It's On Us to Stop Sexual Assault

Yesterday at the White House, President Obama joined Vice President Biden and Americans across the country to launch the "It's On Us" initiative -- an awareness campaign to help put an end to sexual assault on college campuses.

"It's On Us" asks everyone -- men and women across America -- to make a personal commitment to step off the sidelines and be part of the solution to campus sexual assault.

Learn more about It's On Us.

READ MORE

What's a Continuing Resolution and Why Does It Matter?

This week, Congress passed and President Obama signed something called a Continuing Resolution, an important measure that ensures our government has the resources necessary to address key domestic and national security goals in the months ahead.

Want to learn what exactly a Continuing Resolution is and what this one includes? Here's a few answers to some key questions that many Americans may be asking.

Learn more about the President's statement.

READ MORE

Stepping Up Our Efforts to Help Combat the Ebola Outbreak

At the Centers for Disease Control and Prevention (CDC) in Atlanta on Tuesday, President Obama discussed the Ebola outbreak in West Africa and announced a major increase in our efforts to help fight the outbreak.

While reiterating that the chances of an Ebola outbreak in the United States are very unlikely, the President emphasized that the outbreak is still a national security priority, and that the government has "devoted significant resources in support of our strategy."

Learn more about the President's statement.

READ MORE


 

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Seth's Blog : What everyone reads

 

What everyone reads

Everyone used to read the morning paper because everyone did. Everyone like us, anyway. The people in our group, the informed ones. We all read the same paper.

Everyone used to read the selection of the book of the month club, because everyone did.

And everyone used to watch the same TV shows too. It was part of being not only informed, but in sync.

Today, of course, that's awfully unlikely. Only 1 or 2 percent of the population watch the typical 'hit' show on cable. Of course, it's entirely possible that everyone in your circle, the circle you wish to be respected by, is watching the same thing, but that circle keeps getting smaller, doesn't it?

And when 'everyone' isn't part of the picture any more, when the long tail is truly the only tail, plenty of people stop trying. They stop reading difficult books or watching less-than-thrilling video, and they don't push themselves to do the hard stuff, because, really, why bother?

Society without a cultural, intellectual core feels awfully different than the society that we're walking away from.

       

 

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