luni, 11 ianuarie 2016

Seth's Blog : Ten questions for work that matters



Ten questions for work that matters

What are you doing that's difficult?

What are you doing that people believe only you can do?

Who are you connecting?

What do people say when they talk about you?

What are you afraid of?

What's the scarce resource?

Who are you trying to change?

What does the change look like?

Would we miss your work if you stopped making it?

What do you stand for?

What contribution are you making?

Hints: Any question that's difficult to answer deserves more thought. Any answers that are meandering, nuanced or complex are probably a symptom of something important.

       

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duminică, 10 ianuarie 2016

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


Merkel Cancels Davos Trip, Warns Refugee Sex Offenders Part of Organized Crime

Posted: 10 Jan 2016 09:52 PM PST

In response to growing pressure over the over the mass sexual assaults and robberies that took place in Cologne on New Year's Eve, Angela Merkel cancelled her regular trip to the global leaders' gathering in Davos according to the Financial Times.

Merkel's justice minister warned that the attackers are members of an organized crime network that coordinates via smartphones and social networks.

Lovely.

Well at least they did not blow up Berlin.

Mike "Mish" Shedlock

Mexico Blames China for "Frankly Perverse" Currency Wars Then Joins Mad Intervention Party

Posted: 10 Jan 2016 02:39 PM PST

One-Way Trip Lower

Every rally in the Mexican peso vs the US dollar has failed since 2001. The Peso is now worth about half what it was fourteen years ago.



In April of 2001, it took 8.91 Mexican pesos to buy 1 US dollar. Now it takes 17.92. That's a decline of just over 50%.

"Perverse" Currency Wars

A slide in the price of oil and a perception the US economy is relatively strong are as much to blame for the recent slide in the peso as China. 

Nonetheless, the Financial Times reports Mexico Warns of China Triggering 'Perverse' Currency Wars
Chinese market turmoil and the renminbi's fall to a four-year low against the US dollar risks the prospect of "perverse" currency wars, Mexico has warned.

"There is real concern that, in the face of the deceleration of the Chinese economy, the public policy response will be to start a round of competitive devaluations," said Luis Videgaray, finance minister.

He called that prospect "frankly perverse" because copycat devaluations would leave everyone in the same position and would not really alter anything. Mexico's peso floats freely, but the central bank has been auctioning dollars in recent months to shore up the currency.

"Frankly Perverse"

Mexico warns "frankly perverse" copycat devaluations won't accomplish anything.

I agree.

However, Mexico should take this under advisement: History shows it's equally perverse to expect currency intervention actions to work.

Mike "Mish" Shedlock

Unusual Sacrifice; Price of a Deal; Together for Yes

Posted: 10 Jan 2016 01:20 PM PST

Unusual Sacrifice

Spain saw an unusual outcome on Saturday: A politician sacrificed himself for the good of his cause.

Background for this development stems from regional elections in Spain where separatists came away with a majority, but could not decide on a president.

The two pro-independence factions are the Popular Unity Candidacy (CUP) and Junts pel Si. CUP is a far-left, fiercely anti-capitalist party that rejects Catalan membership of both the EU and Nato. Junts pel Si is a more business-friendly secessionist group.

Artur Mas' Junts pel Si party received far more votes in the regional election, holding 62 of the 135 seats in the Catalan parliament. But CUP refused to back Mas and 62 is not a majority. Nor could the non-separatists muster a majority.

One day before new elections would have been forced, Mas stepped aside and announced a deal with CUP.

I commented on that outcome in Pro-Independence Spanish Parties Strike Deal to Form Government, New Catalan Election Called Off; Rajoy in Hot Seat.

Price of Deal Disclosed

The decision by Artur Mas to step aside came with a price. Via translation from El Economista, here are the terms of the deal.

  1. Members of the CUP may not vote in parliamentary affairs in any way that is contrary to the process of independence
  2. Two anti-capitalist CUP parliamentarians must join Junts pel Si and vote along with it.
  3. CUP must let Artur Mas pick the president.
  4. CUP had to admit mistakes in its belligerent position against pel Yes Junts regarding the independence process.
  5. CUP must to renew its commitment to the parliamentary group in order to realize a step change and assume their rightful criticism in the negotiating process. The relay in the parliamentary group will be held immediately after full investiture.

Very Good Deal for Separatist Movement

I have no idea what point five means. For the pro-independence movement, though, it appears to be great deal all around.

Had a new election been held, the separatists may not have even won. In the last election, the separatist forces did not get a majority of the votes even though they got a majority of seats in the Catalan parliament.

New President Announced

As a result of point number three above, a new president has been named: Carles Puigdemont, mayor of the provincial city of Girona.

The Financial Times reports Catalonia to Elect New Leader as Divisions with Madrid Deepen.
Catalonia's pro-independence parties agreed to elect a new regional president at the weekend, as part of a last-minute deal that is expected to accelerate the region's push for independence and raise pressure on leaders in Madrid to end Spain's post-election political deadlock.

Carles Puigdemont, the new president, was set to be confirmed in his post during a special session of the Catalan parliament on Sunday night.

Mr Puigdemont will have an explicit mandate to lead Catalonia towards secession from Spain over the next 18 months. His government is tasked with in effect setting up a state within the state, by creating a separate Catalan central bank, tax authority, social security system and possibly even the nucleus of an independent military.

Mr Puigdemont, a former journalist and the current mayor of the provincial city of Girona, will enjoy what looks to be a solid parliamentary majority to implement that plan.
Together for Yes

Junts pel Si and CUP have merged forces in a way that will strengthen the independence movement. And that merger comes at a time the central government is more fragmented than ever.

In fitting irony of the unusual decision of a politician to step aside for the good of the cause, Junts pel Si translates as "Together for Yes".

Mike "Mish" Shedlock.

Damn Cool Pics

Damn Cool Pics


27 Benefits of Harvesting & Eating Wild Venison [Infographic]

Posted: 10 Jan 2016 05:32 PM PST

There are so many reasons why hunting for deer meat is beneficial not only for the environment but for our well being and health. We have narrowed it down to 27 benefits of harvesting and eating wild venison and have created a really cool infographic to better illustrate the long lasting debate of venison vs beef.

Click on Image to Enlarge.

Source: Goodgamehunting.com

Seth's Blog : Hiding



Hiding

Your customers are hiding.

Your prospects are hiding.

You are hiding.

All of us are.

Hiding from change. Hiding from responsibility. Hiding from the prospect of feeling foolish. 

We hide by avoiding things that will change us. We hide by asking for reassurance. We hide by letting someone else speak up and lead.

We live in fear of feelings.

We're lucky enough that the things we used to fear don't happen so often any more, so now we fear feelings.

We will rationalize in extraordinary ways to avoid coming out of hiding.

When in doubt, look in the hiding places.

Olly, olly, oxen free.

       

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sâmbătă, 9 ianuarie 2016

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


Is Chancellor Merkel Openly Inviting More Sex Crimes by Refugees?

Posted: 09 Jan 2016 05:29 PM PST

Refugee Sex Scandal

In the wake of a New Year's Eve Sex Scandal in Cologne that involved approximately 1,000 refugees, German chancellor Angela Merkel proposed Tougher Migrant Laws.

Before: Asylum seekers are only forcibly sent back if they have been sentenced to at least three years' imprisonment, and providing their lives are not at risk in their countries of origin.

Proposed: Deport "serial offenders" convicted of lesser crimes.

What We Know

  • The Cologne incident involved at least 1,000 refugees of Arab or North African origin.
  • Women filed 379 criminal complaints of which 40% involve allegations of sexual offenses. Counts vary, story to story. 
  • There were at least two reported rapes. Again, counts vary.
  • Cologne's police chief Wolfgang Albers, was suspended after repeated claims that his force mishandled the incident. Albers has since resigned.

Cover-Up

Not only did the Cologne police attempt to suppress the story, so did the media and Merkel's government.

The Telegraph reports 'Cover-Up' Over Cologne Sex Assaults Blamed on Migration Sensitivities

The Daily Caller reports Germany's Largest Broadcaster Apologizes For Not Reporting Sexual Assault Attacks
Germany's largest television station ZDF issued an apology Wednesday for not reporting on the New Year's Eve sexual assault scandal in the city of Cologne, where more than 100 women were victims of a "civil war like" situation.

Editors of the network's nightly news show "Heute" (translated to "Today" in English) confessed to not covering the attacks despite knowing the magnitude and severity of the events. Leaked police documents also confirm authorities held back on reporting information to the public until the media broke the story Monday — four days after the attacks.
Right to Asylum

"The right to asylum can be lost if someone is placed on probation or jailed," warned Merkel.

Excuse me for asking, but what "right of asylum" is there, if any, and what right should there be?

Deterrent or Invite?

"Serial offenders who consistently return to theft or time and again insult women must count on the force of the law," said chancellor Merkel.

Who is that supposed to scare?

If illegal refugees commit multiple crimes, are caught and convicted, they will be deported, assuming of course they show up for trial or can be rounded up.

Is that a deterrent or is it an open invite for more crimes in the face of absurd leniency?

Merkel ought to admit she is in this way over her head, that she was wrong to issue a blanket invite to refugees, that she has no idea how to deal with the crisis, and most importantly, that her ideas are out of sync with German voters.

Following those admissions, Merkel should do the honorable thing: resign.

Mike "Mish" Shedlock

Pro-Independence Spanish Parties Strike Deal to Form Government, New Catalan Election Called Off; Rajoy in Hot Seat

Posted: 09 Jan 2016 01:41 PM PST

Deal Announced

The Spanish political situation today is a lot different than a week ago. New elections were at hand in Catalonia if pro-independence parties could not resolve their differences.

Today, the bickering parties set aside those differences in a striking deal to form a new government, guaranteed to raise a strong reaction from Madrid.

To understand what led up to today's announcement, let's backtrack to fill in a few pieces.

On January 3, the Financial Times reported Leadership divisions deal a blow to Catalan hopes for independence.
The two main independence parties — the mainstream Junts pel Si movement and the anti-capitalist CUP — won a majority of seats in the Catalan parliament in a landmark regional election last September. Since then, however, the CUP has made it clear that it will not support Artur Mas, the current regional president and the de facto leader of Junts pel Si, for another term in office.

Mr Mas, a relatively late convert to Catalan independence, is seen by many CUP leaders and activists as too centrist and business-friendly. The Catalan president has also been damaged by a string of corruption scandals that hit his party over the past year.

The rejection of Mr Mas leaves the broader Catalan independence campaign in a difficult position — and with a clear sense of an opportunity wasted.

For the Spanish government, meanwhile, Sunday's decision will come as a relief. Madrid is fiercely opposed to Catalan independence, arguing that Spanish regions have no right of self-determination and that any step towards separation from Spain violates the constitution.

With the Catalan independence camp in disarray, Spain's mainstream parties can focus on resolving their own political dilemma: last month's general election produced a highly fragmented parliament, with no party close to holding a governing majority.
No Relief for Madrid

The sigh of relief in Madrid was short-lived. At the last minute, a deal has been announced that will make matters worse for Madrid than if CUP had gone along with Artur Mas as president.

The new president will likely take an even firmer stance on independence, not only from Spain, but the EU.

Expect a  major reaction from Prime Minister Mariano Rajoy soon. 

Pro-Independence Spanish Parties Strike Deal to Form Government

Please consider Pro-Independence Spanish Parties Strike Deal to Form Government.
The two pro-independence parties in the Spanish region of Catalonia have struck a last-minute deal to form a new government, after regional president Artur Mas agreed to step aside and let another politician lead the planned push towards secession.

Confirming his decision in a press conference on Saturday evening, Mr Mas said: "The most important principle is the country and its people. They stand above any party and above any person." Mr Mas and other independence leaders had until midnight on Sunday to either form a new regional government or resign themselves to an early election.

The decision is likely to have important repercussions both for the region and for Spain at large. The new Catalan government plans to steer the region towards a historic break with Spain over the next 18 months, by effectively setting up a state within the state — from a Catalan central bank to a separate tax authority.

Any such move is certain to invite a furious reaction from Madrid. In the short term, the Catalan accord is also likely to raise the pressure on Spanish political leaders from the centre-right to the centre-left to set aside their differences and form a strong unionist government. Party leaders in Madrid have been at loggerheads since Spain's inconclusive general election last month, which left even the strongest party — the ruling Popular party of Prime Minister Mariano Rajoy — far from a governing majority.

Mr Rajoy has repeatedly urged the centre-left Socialists to support him as part of a national unity government designed to fend off the Catalan challenge. That appeal is now certain to gain in urgency.

Saturday's deal marks a striking reversal for Mr Mas and his Junts pel Si movement, which had insisted until the last moment that it would not sacrifice the veteran leader. But with talks deadlocked, and a repeat election moving ever closer, Mr Mas finally agreed to make way for a party colleague, Carles Puigdemont, the mayor of Girona. The former journalist and editor is expected to be voted in as president of Catalonia in a special session of the regional parliament on Sunday.

The decision to swap out presidents followed months of talks between Junts pel Si, the more mainstream of the independence parties, and the Popular Unity Candidacy (CUP), a far-left secessionist group. Last September, the two parties won a majority of seats in the Catalan parliament, but then fell out over the issue of who should lead the next regional government.

Mr Mas's Junts pel Si party is by far the bigger of the two, holding 62 of the 135 seats in the Catalan parliament. But the CUP, a fiercely anti-capitalist party that rejects Catalan membership of both the EU and Nato, refused to back him.
National Election Implications

The December 20, Spanish national election left Spain in political shambles.

I wrote about the results in Spanish Election: Two-party Dominance Ends; Rojoy's PP Party Fails to Win Majority; Vote Buying Spanish Style; Fragile Coalition Possibilities.

Here were the results (revised slightly from my original post)

  • People's Party PP (Conservatives): 123 seats, 28% of vote
  • PSOE (Socialists): 90 seats, 22% of Vote
  • Podemos (Eurosceptic, Anti-Austerity Socialists): 69 seats, 20.5% of vote
  • Ciudadanos (Anti-corruption, nationalistic party): 40 seats, 14% of vote
  • Others:  28 Seats

Many expected PP and Ciudadanos would have enough seats form a majority. Ciudadanos had been polling above 20% with Podemos sinking.

Like PP, Ciudadanos is very much against the separatists in Catalonia, and very pro-euro.

But 123 + 40 does not reach the 176 needed for an outright majority.

Most of those "other" seats are for various separatist parties. So don't count on those votes.

The socialists and conservatives could form a government, but how stable would that be?

PSOE, Podemos, and Ciudadanos could in theory form a coalition but huge philosophical differences abound. Podemos is eurosceptic while Ciudadanos is very pro-Europe. In addition, Podemos is open to separatist elections and Ciudadanos would never go along.

Ciudadanos, an anti-corruption party can hardly strike a deal with the corrupt and ruling PP without losing face. And even if it did, the votes are not there. Podemos is in the same boat.

Prime minister Mariano Rajoy will likely appeal to all the other parties as a way to counteract the Catalan independence movement, but socialists and conservative don't mix well and the resultant government would be very weak.

Look for intense pressure from many quarters for a PP/PSOE alliance just to keep the separatists at bay.

New National Election Likely

The Catalonia regional election will stand. But new national elections still seem likely, with unknown consequences.

Mike "Mish" Shedlock

Seth's Blog : Getting ahead vs. doing well



Getting ahead vs. doing well

Two guys are running away from an angry grizzly when one stops to take off his hiking boots and switches to running shoes. "What are you doing," the other guy yells, "those aren't going to allow you to outrun the bear..." The other guy smiles and points out that he doesn't have to outrun the bear, just his friend.

I was at a fancy event the other day, and it was held in three different rooms. All of these fancy folks were there, in fancy outfits, etc. More than once, I heard people ask, "is this room the best room?" It wasn't enough that the event was fancy. It mattered that the room assigned was the fanciest one.

Class rank. The most expensive car. A 'better' neighborhood. A faster marathon. More online followers. A bigger pool...

One unspoken objection to raising the minimum wage is that people, other people, those people, will get paid a little more. Which might make getting ahead a little harder. When we raise the bottom, this thinking goes, it gets harder to move to the top.

After a company in Seattle famously raised its lowest wage tier to $70,000, two people (who got paid more than most of the other workers) quit, because they felt it wasn't fair that people who weren't as productive as they were were going to get a raise.

They quit a good job, a job they liked, because other people got a raise.

This is our culture of 'getting ahead' talking.

This is the thinking that, "First class isn't better because of the seats, it's better because it's not coach." (Several airlines have tried to launch all-first-class seating, and all of them have stumbled.)

There are two challenges here. The first is that in a connection economy, the idea that others need to be in coach for you to be in first doesn't scale very well. When we share an idea or an experience, we both have it, it doesn't diminish the value, it increases it.

And the second, in the words of moms everywhere: Life is more fun when you don't compare. It's possible to create dignity and be successful at the same time. (In fact, that might be the only way to be truly successful.)

       

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