vineri, 21 martie 2014

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The President's review of big data and privacy

The White House Friday, March 21, 2014
 

The President's review of big data and privacy

In January, President Obama spoke about changes in the technology we use for national security purposes, and what they mean for our privacy broadly.

He launched a 90-day review of big data and privacy: how they affect the way we live, and the way we work -- and how data is being used by universities, the private sector, and the government.

As part of that review, we've already heard from leading privacy advocates and industry leaders, among others.

But this is a conversation that affects all Americans, and we want to make sure you have a chance to be a part of it. We want your input.

Take a moment to tell us what you think about big data, privacy, and what it means to you.

Stay Connected

 

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Watch the First Lady's Travel Journal

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


  Featured

Watch the First Lady's Travel Journal

First Lady Michelle Obama arrived in Beijing yesterday to start her official visit to China. During her first day, she toured the Forbidden City with First Lady Peng Liyuan, and talked with students at Beijing Normal School.

Watch First Lady Michelle Obama recap Day One.

Hear from First Lady Michelle Obama as she recaps day one of her trip to China.

 
 

  Top Stories

Improving Economic Opportunity for Women and Working Families

President Obama traveled to Orlando to talk about improving economic opportunity for America's women and working families. Speaking at Valencia College, where more than half of the students are women, the President explained that women face "particular challenges" in our economy.

READ MORE

President Obama Updates the American People on the Situation in Ukraine

President Obama updated the American people on the situation in Ukraine and the steps the United States is taking in response. Diplomacy between the United States and Russia continues, President Obama said, and Russia still has a different path available, "one that involves Russia pursuing a diplomatic solution with the government in Kyiv, with the support of the international community."

READ MORE

Tell Us What You Think About Big Data and Privacy

The White House Office of Science and Technology Policy already released a formal Request for Information seeking comments from the public on the review of big data. But we want to make it even easier for you to participate in this important process.

READ MORE


 
 
  Today's Schedule

All times are Eastern Time (ET)

10:15 AM: The Vice President speaks to the National Association of Community Health Centers 2014 Policy and Issues Forum

10:30 AM: The President receives the Presidential Daily Briefing

1:15 PM: Press Briefing by Press Secretary Jay Carney

4:05 PM: The President meets with Internet CEOs

5:00 PM: Dr. Biden meets with teachers from the Santa Barbara Unified School District

10:00 PM: The Vice President attends a DNC event

 
 

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How Can Mobile SEO Help my Non-Mobile or Local Business?

How Can Mobile SEO Help my Non-Mobile or Local Business?


How Can Mobile SEO Help my Non-Mobile or Local Business?

Posted: 20 Mar 2014 04:17 PM PDT

Posted by randfish

Google recently said that mobile search volume could exceed desktop search volume by the end of 2014. Don't panic, though; there's quite a bit more nuance to the trend than most people realize.

In today's Whiteboard Friday, Rand helps us understand that nuance, and talks about how we can level-up our mobile game in ways that will benefit our businesses regardless of whether and when Google's forecast comes true.

For reference, here's a still of this week's whiteboard!

Video transcription

Howdy, Moz fans, and welcome to another edition of Whiteboard Friday. This week I thought it was very interesting that Google came out and said mobile search volume may exceed desktop search volume by the end of 2014, by the end of year 2014. So next year, 2015, we might be living in a world where there are more searches on mobile devices than there are on desktops and laptops, which is fascinating. But I think it's very important to take a few steps back and realize what's going on here and then apply and say, "All right, how can mobile SEO, mobile search really help my business, even if I'm not a local-serving or a mobile-serving business?"

Well, all right. The first thing that I think is very important is in the statistic are some intricacies. They're not flaws or inaccuracies, they're just intricacies. Many searchers around the world, particularly in the regions that are growing the fastest, and we're talking about a lot of parts of Southeast Asia, the Mid-East, Africa, South America, underdeveloped parts of North America, and Europe even are getting mobile before they get desktops and laptops. It's also the case that many young people are using mobile devices before they're using desktops and laptops, particularly in age groups where they're not doing professional kinds of work yet.

So it's often the case that you have to ask yourself, "Well, who really are the people who are really accounting for this growth?" It could very well be that they are not in your target demographic, psychographic, age range, all these types of groups, geographic groups.

It's also the case that a lot of mobile devices now are offering a close-to-laptop experience. I mean one of the things that I was shocked by mobile not really changing all that much dramatically. It did have a lot of big changes and has had a lot of big changes on the world of technology and the world of how we use the Web and software. But one of the things that I was surprised about that didn't happen is that it hasn't taken away from those things. In a lot of ways that's because the experience is so close to what you get with a desktop and laptop, particularly with very advanced devices. You can do so many of the things, close to almost of the things that you could do with a desktop or laptop. I almost think of my mobile device as just as a smaller, slightly-less-convenient-for-long-typing laptop. It's pretty much like that.

So as you're looking at the statistic, I think that a lot of companies, a lot of executives, a lot of marketing folks are going, "Oh my god, what's our mobile strategy?" It is good to be asking that question, but you might not want to panic. One of the things that we did recently at Moz is we took a look at what is the percent of people who have ever tried to access our websites via mobile devices, and it turns out the percent was shockingly low. It was like 3% or 4%, I think less than 4% of people even today, which is up only slightly from last year, when it was like 3.5%. Now it's like 3.7% or something of all of our visits come via any type of mobile device.

We don't have responsive design or a great mobile experience on many of our pages, but we do on a few things, for example, on my personal blog, moz.com/rand. So we looked at, "Hey, is there a difference between people accessing moz.com/rand, which is sort of very mobile-friendly versus the main blog, which is not mobile-friendly," because that might tell us something about our audiences. We looked and there is a difference. It's the opposite of what you would expect. The responsive-design-friendly one, my blog, gets an even lower percent of its traffic from mobile devices than the main Moz blog does.

So really mobile is not, at least not yet our audience. We're still thinking about it of course, and in fact responsive design is on the list of the Inbound Engineering team. So in the next few months you should be seeing a mobile-responsive site for the very small percent of you who do like to browse Moz on mobile.

Doing that type of work, figuring that out, and looking at trend lines as well can be really helpful. The other thing I might urge you to do is think very carefully about, "Hey, I might want to be buying some advertising on places like Google and Facebook," and looking at the percent of those advertising bodies that are on mobile versus desktop, because it could be the case that you've just trained your customers. For example, Moz, maybe we've trained our customers not to browse us on mobile because we don't have a great mobile experience, and that's what biasing.

So I would urge you to think about who these groups are, whether they're in your world, those kinds of things, before you go figuring out whether this is a critical question to answer. The chances are though eventually it will be an important question to answer, and when it is, you need to think a little bit about the mobile user experience and what a mobile user can do for your business, especially if you're not particularly focused on local or mobile types of searches today.

So a mobile user has these sort of buckets that I like to put into what they're doing with their device when they perform searches in Google or in Bing. Those are sort of needs: I must find this place right now. I must get the hours for this. I must know when it's open. Their wants: I'm interested in this. I want to price compare something. Their curiosity: I think probably almost half of the queries that I do have to do with who was in what particular movie at a dinner table. I suspect many of you are the same. And then there are fun sorts of things as well, people looking for games, looking for distractions. I browse Reddit and Hacker News, which I guess is some combination between work and fun, a lot on my phone, particularly if I'm in a store with my wife and she's shopping and I don't need to go shopping right then.

This is a little bit different in fitting into the classic informational, navigational, transactional models of search usage. But in mobile you can actually think of the vast majority of mobile queries falling into the informational and navigational. Transactional is still very low. E-commerce rates, conversion rates, email entry rates, a lot of those things where people do something and they enter data in and they complete some sort of call to action on mobile are still way, way, way lower than they are on desktop. The caveat to that being if you're targeting a group of folks who mobile is their primary or only device, be aware that these rates may be much, much higher. If you're dealing with US consumers who have mobile and have desktop/laptop, well, then transactional rates are likely to be much lower, and navigational and informational are most of the things that you're going to want to serve.

Now, when it comes to mobile, I really think of mobile in a lot of the same ways that I think about social from a funnel perspective. So if I'm thinking about the marketing funnel and I have discovery, my first discovery of a brand, my first acknowledgement of its existence, and then my first experience, my first visit to that website, most of that mobile SEO should be done around these two things -- the discovery and the first experience. I'll talk about some tips and ways to do this. But what I really mean here is that you want visitors who come via these channels, who come via mobile search, in particular, to want to come back later, and that means providing an experience, providing a brand experience, providing a message that's really clear about what your company, product, information can offer them and why they should return in the future, why they should like you and trust you, why you're a good site for them to check out in the future when they might have more of those transactional things, because chances are they're not going to do them on that first mobile experience.

Now, a few tips for mobile SEO. The first one maybe is the most critical. I worry most about that experience for informational and navigational searchers, and because I worry about that, there's actually a way to figure out which pages are the most important. So what I can do, you can sort in your Google Analytics or whatever analytic system you've got, you can sort pages receiving traffic from search engines by mobile device. Then you'll get kind of a list of URLs. You get that list of pages. These are the pages where Google sends traffic from mobile devices to my site today.

Now, in addition to obviously fixing up and making sure that these mobile experiences are positive, the caveat to this is Google does have some biasing on mobile. So they do look and they'll say, "Hey, this site is not providing a great responsive design. The pages aren't loading fast. It's not targeted to the geography that we know the phone is in," all these kinds of things, and so they may be actually reducing your mobile traffic. Thus, it might pay to do some experimentation on, "Hey, let's take a group of these pages that are down here, that aren't receiving much traffic. Let's do some mobile SEO, and let's see what happens, see if we can't improve that. " If that is the case, implementing some mobile SEO best practices, speeding up the pages, putting a responsive design in place, etc., if that can improve these, then you know what your opportunity cost is and where you might want to invest.

The second thing, you'll see this as a mobile user, and many times pushing or forcing an app download on someone, while it does mean that you get them more into your fold potentially, assuming they ever use the app, it's rarely the best user experience. In fact, oftentimes some of the folks who've done some of the most extensive testing, the online dating world is one of these where they've done a lot of testing of this, what they've found is providing a great experience or pretty good experience on mobile through the Web for searchers and then having just a slight message that is, "Hey, we have an app. You can do even more with our app," that kind of thing, almost like an advertisement on the website actually works better than sort of the experience you get from LinkedIn or Yelp, where every time you visit on your mobile device they try and force you to download.

Now, LinkedIn and Yelp are very different because they are very mobile-centric and they do want that capture. Perhaps they are willing to sacrifice some of the usability and user experience. But you should be aware that Google might be looking at that, and if they're seeing that pogo-sticking, people jumping away from the Yelp or LinkedIn page back to the search results, remember they might be downgrading and not letting those pages rank so well over time.

Third thing, even if you don't have responsive design, and there are still many, many companies like Moz who don't yet have responsive design, you can do a lot of things to improve the performance of your mobile pages, and that includes obviously speeding up download speeds, but limiting ads, particularly overlays. A lot of folks, especially in the technology and marketing industries and in a lot of B2Bs, have those popovers, the overlays that ask for an email capture or ask you to dismiss a message or those kinds of things, that can be a very frustrating experience on mobile because it's so hard to close those. You have to sort of zoom in on my phone and then like hit that little tiny x. Extremely annoying, you can see those pogo-sticking rates going up again. So even just surfing around with your mobile device on your own site, figuring out if you should turn those off, that can have a positive impact.

Then number four, a lot of the testing that we've seen from folks who do conversion rate optimization is that with mobile limiting choice is even more valuable than it is on a desktop/laptop experience, and I think part of the reason for that is that you don't have the opportunity to do as much investigation as easily and as quickly on a mobile device as you do a desktop/laptop. So limiting the choice on all sorts of things, on navigation, limiting choice on calls to action, limiting choice on sharing, for example, it can be really helpful. So a lot of the time, with content marketers, what you're doing with mobile is trying to attract people whose first experience is going to be, "Wow, this content is really interesting. I might share this. I might Tweet it. I might share it on Facebook. I might put it Instagram." Well, maybe Instagram not so much, but LinkedIn, Google+.

So that is somewhere where we've seen some of the very, very smart content sites, people like BuzzFeed and Upworthy, what they do is they look at how mobile traffic shares, and they say, "You know what? We're actually not going to have four buttons. We're only going to have one button. It's only going to be the Facebook Share button," or "It's only going to be the Tweet button," or "We're going to look at how the visitor came to the page, and then we're going to provide a sharing call to action based on that." So for those of you who are doing content marketing, you might want to consider limiting that choice as well.

There's lots and lots of other things that we can do with mobile SEO, but I think this is a good starting point and, especially considering Google's announcement here, a timely one. So I look forward to all of the advice and comments down below, and we'll see you again next week for another edition of Whiteboard Friday. Take care.

Video transcription by Speechpad.com


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joi, 20 martie 2014

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


Buffoon Bluffery; What are Sanctions Really About?

Posted: 20 Mar 2014 04:40 PM PDT

Today, the US imposed more meaningless sanctions on Russia. Of course Russia responded in kind.

In Europe, where far more is to be lost than gained from sanctions, bickering amongst suggests no meaningful escalations in sanctions.

Here is a roundup of recent actions, counteractions, threats and counter-threats.

Meaningless Additional US Sanctions

The Financial Times reports US imposes sanctions on 20 more Russians.
The US has announced sanctions on 20 more senior Russian individuals over Moscow's takeover of Crimea and also singled out a bank which does business with the targeted individuals.

Moscow responded by banning nine American officials from entry to Russia.

Barack Obama, in a statement at the White House, said the US was moving "to impose additional costs" on Moscow by sanctioning more senior Russian officials and "other individuals with substantial resources and influence who provide material support to the Russian leadership."

He said he had also signed an executive order giving the US the authority to impose sanctions on key sectors of the Russian economy.
Americans banned from Russia include House Speaker John Boehner and senators John McCain and Harry Reid. Michael Steel, Mr Boehner's spokesman, said: "The speaker is proud to be included on a list of those willing to stand against Putin's aggression."

Obama's Bluff Will Be Called

Should Obama actually be dumb enough to impose sanctions on "key sectors of the Russian economy" Russia will respond with punishing sanctions on US interests as well as shutting off natural gas to Europe.

Putin clearly has the upper hand. I suspect European leaders are already relaying this message to Obama "Don't do anything stupid".

Of course, politics be what they are, stupidity happens all the time. And Senator McCain is indeed putting pressure on Obama to do something stupid. Meanwhile ...

US Companies Urge Restraint on Russia Sanctions

Sanction bickering started in Europe immediately. It has now spread to the US. Please consider US Companies Urge Restraint on Russia Sanctions.
US business, which has been quietly lobbying the administration to take a "circumspect approach" to the crisis, has in recent days made clear in meetings with the White House and Congress that it does not want to see an escalation in economic warfare with Moscow. US business groups have been trying to "educate" members of the Obama administration and lawmakers about the potential costs of additional Russian sanctions, even if they cannot mount a full-scale lobbying push because it could be interpreted as hindering Mr Obama's efforts to put pressure on Moscow.

"You don't want to sanction the people who buy American products," said one US business executive in Washington, adding: "That's targeting American exports, if that's what it is."

Myron Brilliant, head of international affairs at the US Chamber of Commerce, noted the importance of acting in concert with US allies, noting the "close co-ordination" with the EU as especially important as well as joint efforts with Switzerland, Turkey, Japan and Canada. But he warned: "A go-it-alone approach by the US could be both economically damaging and ineffective in accomplishing its goals".
European Tit-for-Tat Bickering Shows Sanctions Hopeless

In Europe, the French want to target Russian money in London while the British want sanctions to start with French defense contracts. The story gets pretty humorous at this point.

The Guardian reports France Warns Russia it Could Cancel Warships Deal.

Buffoon Bluffery

If you read the article, the French foreign minister supports sanctions "only if Britain also acted against Russian oligarchs in London."

Who's foolin' who with this kind of buffoon bluffery? Putin has a chance to respond "OK we cancel the deal. We don't want or need your stinkin' warships."

Indeed, Russia does not need warships. They are of zero practical use. Economically speaking, Putin should take this opportunity to cancel the deal.

Hollande would look like a fool, which of course he is.

Russia Halts Ukraine Imports

With the US engaged in meaningless sanctions, and France engaged in buffoon bluffs, Russia Puts Economic Squeeze on Ukraine.
Russia has started disrupting imports from Ukraine, raising fears that the two countries' stand-off over Crimea is spilling over into a fresh trade war.

Citing complaints from export-oriented businesses, Ukrainian agriculture consultancy APK-Inform reported that Russian customs officials had refused entry of all Ukrainian goods without explanation late on Wednesday.

"More than 200 cargo trucks are piled up at Bachivsk, one of the main border crossings for Ukrainian goods going into Russia," said Serhiy Astakhov, a spokesperson at Ukraine's state border guard service. He was not immediately able to comment on possible bottlenecks at other roadway border crossings.

Russia's food hygiene regulator has repeatedly warned of food imports from Ukraine over the past month, saying it had found a meat shipment with fake veterinary documentation, warning of risks of contaminated pork and claiming doubts as to whether its Ukrainian counterpart could do its job properly against the background of the recent political changes in Kiev.

Russia has repeatedly used non-tariff trade barriers to block imports from countries ranging from China to Norway, and extensively used such instruments to pressure Ukraine when Kiev was planning to sign an association agreement with the EU last year.

A Ukrainian government spokesperson said on Thursday the transport bottlenecks at the border looked "like a trade war".
What are Sanctions Really About?

Q: Are any of the sanctions doing anything to help Ukraine?
A: Obviously not

Q: Are the bluffs by Obama, Hollande, and others easily seen?
A: Remarkably easy

Q: Do further sanctions or trade wars many any sense?
A: Of course not. For further discussion, please see Negative Sum Game; Winners and Losers

Q: So, if sanctions are to the detriment of Ukraine, the US, and all of Europe, then what the hell are the sanctions really about?
A: Egos!

Obama has to preserve his precious ego. So does McCain, Boehner, Hollande, and everyone else promoting economic insanity. McCain in particular is prepared to destroy Europe economically to get his way.

Ultimately, and with thanks to pressure from Merkel and US business leaders, I expect common sense to prevail.

Yet, when dealing with fragile egos, one never knows how insane things can get. Nearly any outcome is conceivable.

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

Reflections on the Yellen Taper-Hike Announcement; What Does the Fed Know?

Posted: 20 Mar 2014 12:50 PM PDT

Yesterday everyone was gaga over the news Yellen might actually hike interest rates a few months earlier than they thought. Will she? Won't she?

It all depends on the state of the economy. What does the Fed know? The answer is a lot less than anyone thinks. Really, the Fed is clueless.

About the only comment regarding yesterday's FOMC announcement that I saw worth mentioning came today from Saxo Bank Chief economist Steen Jakobsen.

Via email, Steen pinged me with this comment earlier today.
The "surprise" in the FOMC announcement was that the consensus among FOMC members for hike seems to have moved forward to June 2015 (from September-December). Personally, I think it's more positioning creating volatility than actual belief in that FOMC projection. An excellent example of Fed's lack of reality during the 2008 crisis was released earlier this year and a nice summary was done by New York Times: The Fed's actions in 2008: What the transcripts reveal.

Please, do not think for one minute that FOMC have any clue about the economy six months from and even less so looking into 2015.
What Does the Fed Know?

I gave my own look into what the Fed knew or didn't in Hilarious Transcripts of Fed Minutes from 2008 Reveal Completely Clueless Fed.

Is the Fed any less clueless today than 2008?

Wine Country Conference II

Want to hear a live discussion of what Steen Jakobsen thinks about Europe, China, or US interest rates?

Then come to the second annual Wine Country Conference which will be held May 1st & 2nd, 2014.

We have an exciting lineup of speakers for this year's conference.

  • John Hussman: Founder of Hussman Funds, Director of the John P. Hussman Foundation which is dedicated to providing life-changing assistance through medical research
  • Steen Jakobsen: Chief Economist of Saxo Bank
  • Stephanie Pomboy: Founder of MacroMavens macroeconomic research
  • David Stockman: Ronald Reagan's budget director, best-selling author, former Managing Director of The Blackstone Group 
  • Mebane Faber: Co-founder and the Chief Investment Officer of Cambria Investment Management
  • Jim Bruce: Producer, Director, and Writer of Money For Nothing: Inside the Federal Reserve 
  • Chris Martenson: Reknown speaker and founder of Peak Prosperity
  • Mike "Mish" Shedlock: Investment advisor for Sitka Pacific and Founder of Mish's Global Economic Trend Analysis

Conference Details

For further details about the 2014 conference, please see Wine Country Conference May 1st & 2nd, 2014

Unlike other "for profit" conferences, every cent of money raised in this event goes to charity. This year's cause is autism.

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

Ukraine to Impose Wealth Tax on Deposits; Run on Ukrainian Banks Coming?

Posted: 20 Mar 2014 11:34 AM PDT

IndexToday has an interesting story on a Ukraine Wealth Tax.
The Prime Minister of Ukraine Arseniy Yatsenyuk proposed on Wednesday 19th of March 2014 the adoption of taxes on wealth of the richest Ukrainians in order to tackle the economic crisis in the country, clarifying that the law will apply to him as well.

The Ukrainian prime minister stated that the proposed tax measures should apply on deposits more than 50,000 hryvnia (less than 4,000 euros). The measure is expected to affect approximately 10% of the population.

During the ministerial council meeting, Arseniy Yatsenyuk cited his own tax return as an example showing that interest on his deposits amounted to 714,000 hryvnia (47,000 euros).

Mr Yatsenyuk specifically stated: "Rich people ought to share their wealth with the country. It is time for justice. It is time to help the country".

The online financial newspaper Ekonomitcna Pravda criticized this initiative with the fear of a massive withdrawal of deposits especially nowadays that the bank sector is in a difficult position because of the political and economic crisis.

The Ukrainian economy is in a terrible position with a public debt of €75 billion, which the country accumulated mostly during the last years, and a huge financial deficit.
Run on Banks Coming?

Certainly, if I had money in a Ukrainian bank I would want to get it out. If everyone could, and did, there would be a massive run on Ukrainian banks.

I picked this story up from ZeroHedge Ukraine Goes Cyprus 2.0, To Tax Deposits Over 100,000 Hryvnia (To Appease IMF?).

He only had these two lines, likely from an economic feed, with and no links.

*UKRAINE PROPOSES NEW TAX ON DEPOSITS EXCEEDING 100,000 HRYVNIA
*UKRAINE TAX PROPOSAL WOULD INCLUDE 1.5% OF ALL DEPOSITS

No Peep in Mainstream Media

This is significant news, but there was not a peep on the Financial Times, Wall Street Journal, Bloomberg, or the New York Times.

The only other reference I could find was Russian News on Rupaper.com: Ukrainian Authorities Suggested to Tax Large Deposits. This appears to be a translation and is somewhat garbled. I will post a paragraphs "as is".
Over 50 thousand hryvnias (5,1 thousand dollars) need to be taxed Interest income of deposits. About it as L_gab_znes_nform reports, the prime minister of the country Arseniy Yatsenyuk declared. According to him, the relevant bill is already submitted on cabinet consideration. Yatsenyuk noted that he is the opponent of a tax on all deposits without exception, and specified that 90 percent of Ukrainians have deposits for the sum up to 50 thousand hryvnias. "Other ten percent rich have to share with Ukraine, it is normal, so does the whole world" — the prime minister declared. Yatsenyuk gave the personal savings as an example. He told that last year gained 613 thousand hryvnias of interest income, and from him didn't levy "any hryvnia taxes". At the end of February of this year the National Bank of Ukraine had to enter restrictions on removal of currency deposits in local banks in an equivalent no more than 15 thousand hryvnias per day. Such decision was made in connection with a mass conclusion of means from banks. According to the Central Bank, only on February 18-20 Ukrainians discounted about three billion dollars. In September, 2012 the Independent association of banks of Ukraine reported that champions by the size of deposits in the country are inhabitants of Kiev. The average size of deposits among capital investors at that time made 26,6 thousand hryvnias. The smallest deposits appeared in Zhitomir area — 3,2 thousand hryvnias.
Capital Controls

As I said, if I had money in a Ukrainian bank, I would want to get it out. But the above article explains limits on withdrawals were placed in February.

I mentioned capital controls on February 28: Ukraine Limits Withdrawals to 15,000 Hryvnia per Day (about $1,500)

Smart individuals likely took out 15 thousand hryvnias per day since the end of February. Really smart (or well connected) individuals wired out everything in January before capital controls were placed.

Moral of the Story

Here's a hint, if you see capital controls, figure a wealth tax confiscation will soon follow. And here's the moral of the story: If you think capital controls may be coming, get your money out of banks now.

Addendum: 

The headline links and the articles in question imply a wealth tax on deposits. This translation provided by reader Andrey suggests it is only income that is taxed, not deposits. Either way, the moral of the story does not change, but certainly a tax on income is far less severe than a tax on deposits.

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

Rand Paul Takes Privacy Message to Bastion of Liberalism, Berkeley California, and Gets Standing Ovation

Posted: 19 Mar 2014 11:50 PM PDT

It's early, but I am pleased to report enthusiasm for Rand Paul is growing, and in the right places. Please consider Rand Paul gets standing ovation at Berkeley: 'Your right to privacy is under assault'
Delivering a rare speech for a Republican at this bastion of liberalism, Kentucky Sen. Rand Paul on Wednesday was given multiple standing ovations by the left-wing audience after railing against government surveillance and warning the students: "Your right to privacy is under assault."

"I am here to tell you that if you own a cell phone, you're under surveillance," he told the crowd.

Paul's address at the Berkeley Forum on the campus of the University of California at Berkeley focused on the National Security Agency's collection of telephone metadata and the debate over privacy.

During his remarks, the potential 2016 Republican candidate discussed California Sen. Dianne Feinstein's claim that the CIA had spied on her congressional staff, and announced that he plans to call for a special committee on Capitol Hill to investigate the domestic spying by government agencies .

"No one should be allowed to invade your privacy," Paul said. "That's why I'm announcing today that when I return to Washington, I will push for a select committee styled after the Church Committee that investigated the abuses of power of the intelligence committee in the 70s. It should be bipartisan. It should be independent, and wide reaching. It should have full power to investigate and reform those who spy on us in the name of protecting us."

That Paul decided to take his libertarian-leaning message to one of the most liberal campuses in the country is no mistake. He is actively making an effort to appear before crowds that have not been supportive of Republicans to demonstrate his ability to appeal to a broader electorate.
To win in 2016, a Republican better do more than appeal to core Republicans who will never vote for Hillary Clinton or whoever the Democrat candidate is.

Republicans need independent voters for sure. Youth support would be icing on the cake. Thus, I like Paul's strategy a lot.

Hopefully Republican infighting does not take him down.

Time to rally around Paul!

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