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luni, 20 august 2012

Photo: A Sunday Stroll

Your Daily Snapshot for
Monday, August 20, 2012

Photo: A Sunday Stroll

President Barack Obama, First Lady Michelle Obama, and daughters Malia, left, and Sasha walk through Lafayette Park from the White House to St. John's Episcopal Church in Washington, D.C., Aug. 19, 2012. (Official White House Photo by Pete Souza)

Seth's Blog : The race to the bottom

The race to the bottom

Let's not race to the bottom.

We know that industrialists seek to squeeze every penny out of every market. We know that competitors want to drive their costs to zero so that they will be the obvious commodity choice. And we know that many that seek to unearth natural resources want all of it, fast and cheap and now.

We can eliminate rules protecting clean water or consumer safety. We can extort workers to show up and work harder for less, in order to underbid a competitor. We can take advantage of less sophisticated consumers and trick them into consuming items for short-term satisfaction and long-term pain. These might be painful outcomes, but they're an direct path to follow. We know how to do this.

In our connected world, commodity producers are under intense pressure. The price of anything that's made to a spec, or that responds to an RFP, is instantly known by all buyers. That means that there's an argument made by big corporations for each country to charge corporations the lowest possible tax rate, to loosen environmental regulations down to zero, and to eliminate employee protections. All so that a country's commodity producers can be the cheapest ones.

I know we can do that. There's always the opportunity to cut a corner, sacrifice lifestyle quality and suck it up as we race to grab a little more market share.

But the problem with the race to the bottom is that you might win.

You might make a few more bucks for now, but not for long and not with pride. Someone will always find a way to be cheaper or more brutal than you.

The race to the top makes more sense to me. The race to the top is focused on design and respect and dignity and guts and innovation and sustainability and yes, generosity when it might be easier to be selfish. It's also risky, filled with difficult technical and emotional hurdles, and requires patience and effort and insight. The race to the top is the long-term path with the desirable outcome.

Sign me up.

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duminică, 19 august 2012

Mish's Global Economic Trend Analysis

ECB Considers Interest Rate Caps; Can Such a Scheme Possibly Work?

Posted: 19 Aug 2012 08:49 AM PDT

Economic Times reports European Central Bank mulls caps on borrowing costs

The European Central Bank is considering buying the bonds of crisis-wracked eurozone countries to ensure borrowing costs do not rise beyond a pre-determined level, German newsweekly Der Spiegel said Sunday.

The bank will define an upper limit for borrowing costs in countries such as Spain and Italy and intervene in the markets to ensure it is not breached, Spiegel said, without citing its sources.

At the end of trade on Friday, Spain was paying 6.39 per cent to borrow for 10 years and Italy 5.76 per cent. In contrast, Germany was paying 1.49 per cent, as investors trust Europe's top economy to repay them.

The so-called spread, or difference, between benchmark German bonds and the debt-wracked countries would be decisive for the proposed rate cap, Spiegel said.

ECB President Mario Draghi announced earlier in August that his institution "may" buy bonds of struggling countries if they first apply for EU bailout funds and accept tough conditions in return.

He said the details would be worked out before the next meeting of the ECB, scheduled for September 6. Spiegel said that ECB governors would decide then whether to implement the proposed borrowing cost cap.

Here is a link to a translated article in Der Spiegel: ECB is planning to challenge interest rate speculation

The European Central Bank (ECB) is considering to establish in its future bond purchases interest rate levels for each country. Thus, they would state papers of the crisis countries always buy when interest rates exceed a certain impact on their yields German Bunds. Sun investors would get a signal that interest rates, the ECB considers appropriate.

Because the Fed has unlimited funds - they can even print the money eventually - it would not succeed even more speculators to drive the returns of the targeted rate also. Thus, the ECB wants to keep not only the financial costs of ailing countries in check, but also to ensure that the general level of interest rates in the euro zone is not too much drifting apart.

At its next meeting in early September, the Governing Council will decide whether the interest rate target is actually installed. One thing is certain, that the ECB will continue to practice their bond purchases more transparent. In the future, they will announce each country, in which capacity she has taken the bonds from the market. This information should be released immediately after the purchases. So far, the ECB had only ever made known Monday how much money she spent on purchases in the previous week as a whole.

Can This Work?

It depends on the definition of "work". In general, if central planners (and it is important to understand that is what we are talking about here) set prices too high there will be unlimited supply.

Likewise, if central planners set prices too low, there will be shortages.

When it comes to money, recall that Switzerland capped the rate of the Swiss Franc vs. the euro. To defend that cap the Swiss National Bank has to offer unlimited money at the target exchange rate.

When it comes to interest rates, the ECB must be willing to buy an unlimited number of bonds (up to the total supply of all bonds).

Theory vs. Practice

So yes, the ECB can "in theory" defend a price target on bonds, but only at the risk of owning every bond.

What about an exit mechanism? How will the ECB get rid of all those bonds down the road? To who, at what price?

Will Germany go along with this ridiculous scheme? For how long?

As is always the case, interference in the free market by central planning fools always fails in the long run.

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

Join us for the Kids' "State Dinner"

Hello --

Tomorrow is going to be a special day at the White House, and I wanted to make sure you got a chance to be a part of it.

At lunchtime, 54 kids from all over the United States will join me in the East Room for the first-ever Kids' State Dinner.

Each of these young people worked with their parents to create an original lunch recipe. We asked them to design a dish that was healthy, affordable, and tasty -- and which met the nutritional guidelines set up by the U.S. Department of Agriculture. A panel of judges from the groups who partnered with us on this project -- the Department of Agriculture, the Department of Education, and Epicurious -- chose these 54 recipes as their favorites.

So now, the kid chefs and their parents are on their way to the White House, and tomorrow we'll all enjoy a meal together and take in a musical performance from Nickelodeon's Big Time Rush. You can watch the whole thing as it happens on our website -- will you join us tomorrow?

WHAT: The Kids' State Dinner at the White House
WHEN: August 20 at 10 a.m. EDT
WHERE: http://www.letsmove.gov/kids-state-dinner

As a mom, I know that parents are always looking for new ideas to make sure our kids are eating right and staying healthy. That's part of why we launched the Let's Move! initiative.

And it's why we're working with the Department of Education and Epicurious to share a free printable and downloadable cookbook with the winning recipes that these young people created with their parents.

You can learn more about our work to solve the problem of childhood obesity so that all our kids can grow up healthy at LetsMove.gov.

And tomorrow, I hope you will join in the fun of the Kids' State Dinner.

Thanks!

First Lady Michelle Obama

P.S. -- To get a preview of some of the great recipes, go here.

This email was sent to e0nstar1.blog@gmail.com.
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Seth's Blog : What if your slogan is true?

What if your slogan is true?

Slogans never change anything. They don't grow market share or find you a job or win you an election.

Underneath the slogan, perhaps, is a story. And the slogan well told is a symptom of that story, a shadow of what you're truly up to. A slogan might be evidence that you have a story, but it isn't a story. A story is something you live and connect with and come back again and again and again.

If the story of your work is consistent, if it resonates with your audience and if you can defend it, then you're likely to succeed. And if your slogan reflects your story, good for you.

Apple has had various slogans through the years, but in every successful iteration of the company, the story has been remarkably consistent: Apple's story is that they are idiosyncratic artisans producing beautiful products for smart people. That's not a slogan, but it's a useful tool for deciding if you're making something or doing something that you ought to be focusing on.

So sure, start with a slogan. But don't bother wasting any time on it if you're merely going for catchy. Aim for true instead.

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sâmbătă, 18 august 2012

Damn Cool Pics

The 10 Most Beautifully Challenging Highways in America [Infographic]

Posted: 17 Aug 2012 11:18 PM PDT

When you drive the same 4-lane highways and byways every day, you can get bored all too easily.

Where's the adventure? The excitement?

Suzuki has your excitement right here – daydream about hitting these roads for a change!

Click on Image to Enlarge.

Via: Suzuki

Weekly Address: Congress Should Back Plan to Hire Teachers

Saturday, August 18, 2012

Weekly Address: Congress Should Back Plan to Hire Teachers

With students starting to head back to school, President Obama discusses the critical role that education plays in America’s future.

Watch President Obama's weekly address.

President Barack Obama tapes the Weekly Address in the State Dining Room of the White House, Aug. 17, 2012. (Official White House Photo by Chuck Kennedy)

Weekly Wrap Up

NASA Success: On Monday, President Obama congratulated NASA’s Curiosity Team on the success of their rover touching down on the surface of Mars, praising them on their ingenuity and urging them to continue the good work. "Through your dedicated efforts, ‘Curiosity’ stuck her landing and captured the attention and imagination of millions of people not just across our country, but people all around the world, including Times Square," he said. "And being able to get that whole landing sequence to work the way you did is a testimony to your team."

Drought Relief: President Obama also toured McIntosh Family Farms in Missouri Valley, Iowa to see drought damage first-hand and offer relief to those being effected. The President announced that the Department of Agriculture will begin to buy up to $170 million worth of pork, chicken, lamb, and catfish. And the President is directing the Department of Defense -- which purchased more than 150,000 million pounds of beef and pork in the last year alone -- to encourage its vendors to accelerate meat purchases for the military and freeze it for future use.

To learn more, the Department of Agriculture is collecting resources for farmers, ranchers, and small businesses wrestling with this crisis at USDA.gov/drought. More information still is available at WhiteHouse.gov/drought.

Banner Year for the U.S. Wind Industry: Also this week, the Energy Department and Lawrence Berkeley National Laboratory released a new report highlighting strong growth in America’s wind energy market in 2011 and underscoring the importance of continued policy support and clean energy tax credits to ensure that the U.S. remains a leading producer and manufacturer in this booming global industry. As President Obama has made clear, we need an all-of-the-above approach to American energy and the U.S. wind industry is a critical part of this strategy. In fact, wind energy contributed 32 percent of all new U.S. electric capacity additions last year, representing $14 billion in new investment.

Dream Day: Wednesday marked “DREAM day,” when the U.S. Citizenship and Immigration Services began accepting requests for consideration of deferred action for childhood arrivals. Deferred action is a discretionary determination to defer removal action of an individual as an act of prosecutorial discretion. Under this process, USCIS will consider requests on a case-by-case basis. While this process does not provide lawful status or a pathway to permanent residence or citizenship, individuals whose cases are deferred will not be removed from the United States for a two year period, subject to renewal, and may also receive employment authorization. For more information, visit the UCIS website for the guidelines, latest news and updates on this process at www.uscis.gov/childhoodarrivals.

11 Facts About the Tax Debate: This week, the Obama Administration reminded the American people that unless the House of Representatives takes action before January 1, 2013, taxes will go up on 114 million middle-class families. To prevent this from happening, President Obama is calling for-- and the Senate has already passed-- legislation that will keep the middle class from paying thousands of extra dollars next year. Republicans in the House of Representatives, however, are refusing to extend middle-class tax cuts without also giving massive tax cuts to the wealthiest 2 percent of Americans. For more information, see this infographic outlining 11 important facts about the two plans and what's at stake for middle-class families.

AmeriCorps at the White House: On Friday, the White House welcomed more than 150 AmeriCorps Alumni leaders from across the country. AmeriCorps is a national service opportunity that has helped more than 775,000 Americans serve more than 1 billion hours since 1994 (with more than 88,000 Americans serving this year alone). In FY 2011, AmeriCorps reached more than 3.5 million disadvantaged youth through tutoring, mentoring, and other services. The AmeriCorps guests participated in a day-long briefing and 12 of them were also honored as Champions of Change, a program created to honor ordinary Americans doing great work in their communities. To learn more about their stories, visit the Champions of Change blog.

The White House also hosted a live Google+ Hangout moderated by Macon Phillips, director of Digital Strategy, and Corporation for National and Community Service CEO Wendy Spencer to engage fellow AmeriCorps members across the country in conversation.

Coming Up: Next week, First Lady Michelle Obama will host the first-ever Kids’ State Dinner as part of her Let’s Move! initiative, in partnership with Epicurious, the Department of Education and USDA, to encourage healthy eating habits.

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luni, 20 august 2012

Photo: A Sunday Stroll

Seth's Blog : The race to the bottom

The race to the bottom

More Recent Articles

duminică, 19 august 2012

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis

Join us for the Kids' "State Dinner"

Seth's Blog : What if your slogan is true?

What if your slogan is true?

More Recent Articles

sâmbătă, 18 august 2012

Damn Cool Pics

Damn Cool Pics

Weekly Address: Congress Should Back Plan to Hire Teachers

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Arhivă blog

luni, 20 august 2012

More Recent Articles

duminică, 19 august 2012

More Recent Articles

sâmbătă, 18 august 2012

Pagini

Persoane interesate

Arhivă blog

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