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marți, 27 decembrie 2011

What's got the President's tongue?

Your Daily Snapshot for
Tuesday, Dec. 27, 2011

What's got the President's tongue?

Eight-month-old Cooper Wagner grabs President Barack Obama's face while taking a picture with his parents, Captain Greg Wagner and Meredith Wagner, at Marine Corps Base Hawaii in Kaneohe Bay, Hawaii, Sunday, Dec. 25, 2011. The President and First Lady Michelle Obama visited with members of the military and their families during Christmas dinner at Anderson Hall. (Official White House Photo by Pete Souza)

Seth's Blog : Q&A

Q&A

I'm often stunned by the lack of questions that adults are prepared to ask.

When you see kids go on a field trip, the questions pour out of them. Never ending, interesting, deep... even risky.

And then the resistance kicks in and we apparently lose the ability.

Is the weather the only thing you can think to ask about? A great question is one you can ask yourself, one that disturbs your status quo and scares you a little bit.

The A part is easy. We're good at answers. Q, not so much.

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Mish's Global Economic Trend Analysis

Attack Dogs Unleashed on Ron Paul; No Need to Rethink Endorsement; Plus Side of Attack Dogs

Posted: 26 Dec 2011 07:07 PM PST

Attack dogs have finally been unleashed on Ron Paul. Those barking dogs caused Andrew Sullivan to Re-Think The Paul Endorsement

Time Magazine even launched a headline Paul Walks Away

No Need to Rethink Endorsement

There is no need to rethink endorsements. Here is the deal: Ron Paul did not say the things attributed to him. He denies them, disavows them, and most importantly, his voting record proves it!

Can anyone honestly tell me why things Ron Paul did NOT say over twenty years ago should be news today?

Paul Missed Best Tactic

How many times does he have to deny he wrote those things? Still, Ron Paul did not handle the CNN setup in the best possible manner.

This is what Paul said to CNN.

"Why don't you go back and look at what I said yesterday on CNN and what I've said for 20 something years. 22 years ago? I didn't write them, I disavow them."

That answer was perfectly fine, as far as it went. Then Paul walked out. It was a missed opportunity.

Proposed Follow-Up

Rather than walking out, Paul should have followed up with ...

"I'm not here to discuss imaginary topics or things I never said. Now, do you want to discuss my position on the economy, on the Fed, and on spending, or is your only point to this interview to discuss things I did not say 20 years ago and have explained to CNN countless times?"

That would have smashed the ball down CNN interviewer Gloria Borger's throat, right where it belonged.

OK. Admittedly, Ron Paul did not respond in the perfect manner. So Ron Paul is human. Who isn't?

Is a transgression 22 years ago of something Ron Paul never said, and whose track record in congress proves it, any reason to drop support of Ron Paul?

In favor of who? Flip-flopper Newt Gingrich? Mitt Romney, the man that practically wrote the Obama Health-Care legislation? The Mitt Romney who wants to starts a trade war with China? Another Republican candidate that has no chance of winning?

If case you are a misguided Mitt Romney fan please consider President Obama and Mitt Romney are Nearly One and the Same!

Anyone "rethinking" their Ron Paul endorsement based on things Paul never said is not thinking clearly.

Attack Dog Plus Side

Here's the plus side to the attack dogs: Ron Paul is now considered a serious candidate or the attack dogs would not have been unleashed on things he never said 22 years ago.

Interestingly, The State Column reports Ron Paul still holds a lead in Iowa.

Thus, a majority of voters have decided that 22-year-old never-made statements are irrelevant, even if some misguided souls can't.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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Japan Seeks to Market Record 145 Trillion Yen Bonds in 2012; Kicking the Can Japanese Style

Posted: 26 Dec 2011 08:14 AM PST

Japan, the country with the highest debt-to-GDP ratio in the G7 to Sell Record 149.7 Trillion Yen Debt in Fiscal 2012

Japan's government said it will increase bond sales to the market to a record 149.7 trillion yen ($1.9 trillion) in the fiscal year starting April 1.

The amount for investors such as banks and life insurers is 4.8 trillion yen more than 144.9 trillion yen in the initial plan for fiscal 2011. Total debt issuance, including securities to replace maturing debt and so-called zaito bonds sold for government agencies, will increase by 4.6 trillion yen to a record 174.2 trillion yen.

Yen Bond Schedule

Kicking the Can Japanese Style

Japan ought to be financing its debt for as long as possible, as cheap as it can, while it still can. Instead, the bulk of it is 5-year duration or less, with next to nothing at the extreme long end.

Ability to roll this debt over at perpetually low rates is going to be a problem sooner or later, and I think sooner, rather than later.

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

luni, 26 decembrie 2011

Seth's Blog : The more or less choice

The more or less choice

I think it comes down to one or the other:

How little can I get away with?

vs.

How much can I do?

Surprisingly, they both take a lot of work. The closer you get to either edge, the more it takes. That's why most people settle for the simplest path, which is do just enough to remain unnoticed.

No one can maximize on every engagement, every project, every customer and every opportunity. The art of it, I think, is to be rigorous about where you're prepared to overdeliver, and not get hooked on doing it for all... because then you just become another mediocrity, easily overlooked.

That means more "no." More, "no, I can't take that on, because to do so means not dramatically overdelivering on what I'm doing now."

And it means more "yes." More, "yes, I'm able to confront my fear and my competing priorities and dramatically step up my promises and my willingness to keep them."

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duminică, 25 decembrie 2011

Mish's Global Economic Trend Analysis

Businesses Exit California and Illinois; Tax and Destroy Policies of Governors Quinn and Brown; Unemployment Rates By State

Posted: 25 Dec 2011 11:09 PM PST

Businesses have tad it with poor business conditions in two of the most dysfunctional states in the union, California and Illinois.

In an editorial, the Orange County Register reports Even profitable firms fleeing California

Democratic reaction to the news that Waste Connections, a $3.6-billion company and major Sacramento-area employer, is headed to Houston to seek a friendlier business climate tells other businesses all they need to know about the attitudes of those who run California's government.

State Senate President Pro Tem Darrell Steinberg, D-Sacramento, gave these clueless and snarky remarks in response to the news: "In this instance you have a company that is, in fact, profitable, making significant revenue gains in 2011 and 2010. That doesn't speak to a bad business climate here in California when a good company is able to thrive in that way. So whatever Mr. Middelstaedt's (company CEO) reasons are to leave the great state of California, I know I'm pushing back."

Is it really the Senate president's role to determine the proper profit margin for a privately owned company? Talk about arrogance.

"The decision by Waste Connections to relocate, despite the 17 percent revenue increase and the $18 million cost to move to Texas, illustrates that businesses will endure short-term costs to ensure long-term prosperity," wrote state Sen. Mimi Walters, R-Laguna Niguel, in response to Steinberg's message. Walters quotes business-relocation expert Joe Vranich of Irvine, who notes that businesses typically save 40 percent in costs by leaving California because of lower taxes and more manageable regulations found elsewhere.

If California wants to improve its business climate and reduce its double-digit unemployment rate, its officials need to understand what companies such as Waste Connections are saying, rather than simply dismiss their concerns.

Businesses Bargain for Better Deals in Illinois

The Chicago Tribune lists 10 companies with an eye in exiting the state in Illinois companies eyeing an exit

Chicago's huge futures exchange owner CME Group has joined a growing list of companies threatening to leave Illinois as a result of the state's corporate tax increase earlier this year. Illinois pushed through the 45 percent corporate tax increase in January, trying to address one of the biggest budget shortfalls of any state in the U.S. But the move proved to be a risky step -- since then, both small and large companies have complained about the increase, and some have received incentives to stay put.

Also on the list: Sears, Motorola Mobility, Caterpillar, Navistar, Mitsubishi, US Cellular, Jimmy John's, and continental Tire.

Small Businesses, Taxpayers Screwed

On December 12, Illinois House approved CME-CBOE, Sears tax deal. Indeed, most of the above companies negotiated huge tax breaks and will stay in Illinois at least for a while.

Small companies with no clout and no leverage as well as taxpayers in general are the ones paying the price for the seriously misguided policies of Democratic Governors Pat Quinn, and Jerry Brown.

Tax-and-Destroy Policies

The tax-and-destroy policies of Illinois and California, coupled with the the massive public union pandering in both states got me wondering about respective unemployment rates, state by state.

Unemployment Rates for States Monthly Rankings Seasonally Adjusted Nov. 2011^p
Rank	State	Rate
1	NORTH DAKOTA	3.4
2	NEBRASKA	4.1
3	SOUTH DAKOTA	4.3
4	NEW HAMPSHIRE	5.2
5	VERMONT	5.3
6	IOWA	5.7
7	WYOMING	5.8
8	MINNESOTA	5.9
9	OKLAHOMA	6.1
10	VIRGINIA	6.2
11	UTAH	6.4
12	HAWAII	6.5
12	KANSAS	6.5
12	NEW MEXICO	6.5
15	LOUISIANA	6.9
15	MARYLAND	6.9
17	MAINE	7.0
17	MASSACHUSETTS	7.0
19	MONTANA	7.1
20	ALASKA	7.3
20	WISCONSIN	7.3
22	DELAWARE	7.6
23	PENNSYLVANIA	7.9
23	WEST VIRGINIA	7.9
25	ARKANSAS	8.0
25	COLORADO	8.0
25	NEW YORK	8.0
28	TEXAS	8.1
29	MISSOURI	8.2
30	CONNECTICUT	8.4
31	IDAHO	8.5
31	OHIO	8.5
33	ALABAMA	8.7
33	ARIZONA	8.7
33	WASHINGTON	8.7
36	INDIANA	9.0
37	NEW JERSEY	9.1
37	OREGON	9.1
37	TENNESSEE	9.1
40	KENTUCKY	9.4
41	MICHIGAN	9.8
42	GEORGIA	9.9
42	SOUTH CAROLINA	9.9
44	FLORIDA	10.0
44	ILLINOIS	10.0
44	NORTH CAROLINA	10.0
47	MISSISSIPPI	10.5
47	RHODE ISLAND	10.5
49	DISTRICT OF COLUMBIA	10.6
50	CALIFORNIA	11.3
51	NEVADA	13.0

Not a Red vs. Blue or Rustbelt Issues

High unemployment is not a red-state vs. blue-state issue. Nor is there a clear rust-belt trend. Moreover, Nevada, is among the more business friendly states but like Florida the hardest hit by the housing bust. Illinois was not so hard-hit but parts of California were.

However, California and Illinois have many things in common:

Harsh business environments
High tax rates
Both states are among the most pro-union states
Both states lack right-to-work laws

That California and Illinois suffer from business flight and high unemployment should not be surprising.

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

Christmas Laughs: How Not to Teach a Bullfrog to Play Video Games; Grandma Got Indefinitely Detained (A Very TSA Christmas)

Posted: 25 Dec 2011 11:04 AM PST

This remake of "Grandma Got Run Over by a Reindeer" is better than the original. It's cute but also reflects a very sad state of affairs.

Grandma Got Indefinitely Detained

Link if video does not play: A Very TSA Christmas

This next video will have you laughing for sure. Please play to the end. It's only 27 seconds long.

How Not to Teach a Bullfrog to Play Video Games

Link if video does not play: Teach a Bullfrog to Play "Ant Crusher"

Merry Christmas Everyone

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

Seth's Blog : An empty Kindle...

An empty Kindle...

More than 5,000,000 people got a Kindle today. If you're looking for something to put on it, I've been working hard on that all year... (plus some bonus titles worth a download.)

Have fun!

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Seth's Blog : Gift wrapped

Gift wrapped

A wrapped present is tranformed when it is opened. Anticipation turns into information, and frequently, one is worth far more than the other.

Too often, we overlook the value of imagination and dreams and the _____. We figure, as marketers or managers or leaders or engineers that all we have to do is meet the spec, fill in the blank and we can prove we did a good job.

Often, though, the story a person tells herself is worth more that the object itself.

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marți, 27 decembrie 2011

What's got the President's tongue?

Seth's Blog : Q&A

Q&A

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Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis

luni, 26 decembrie 2011

Seth's Blog : The more or less choice

The more or less choice

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duminică, 25 decembrie 2011

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis

Seth's Blog : An empty Kindle...

An empty Kindle...

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Seth's Blog : Gift wrapped

Gift wrapped

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