marți, 2 septembrie 2014

Seth's Blog : The wasteful fraud of sorting for youth meritocracy

 

The wasteful fraud of sorting for youth meritocracy

"Sorry, you didn't make the team. We did the cuts today."

"We did play auditions all day yesterday, and so many people turned out, there just wasn't a role for you. We picked people who were more talented."

"You're on the bench until your skills improve. We want to win."

Ask the well-meaning coaches and teachers running the tryouts and choosing who gets to play, ask them who gets on stage and who gets fast tracked, and they'll explain that life is a meritocracy, and it's essential to teach kids that they're about to enter a world where people get picked based on performance.

Or, they might point out that their job is to win, to put on a great show, to entertain the parents with the best performance they can create.

This, all of this, is sort of dangerous, unhelpful and nonsensical.

As millions head back for another year of school, I'm hoping that parents (and students) can call this out.

When you're six years old and you try out for the hockey team, only two things are going to get you picked ahead of the others: either you're older (it's true, check this out) or you were born with size or speed or some other advantage that wasn't your choice.

And the junior high musical? It's pretty clear that kids are chosen based on appearance or natural singing talent, two things that weren't up to them.

Soccer and football exist in school not because there's a trophy shortage, not because the school benefits from winning. They exist, I think, to create a learning experience. But when we bench people because they're not naturally good, what's the lesson?

If you get ahead for years and years because you got dealt good cards, it's not particularly likely that you will learn that in the real world, achievement is based as much on attitude and effort as it is on natural advantages. In the real world, Nobel prizes and Broadway roles and the senior VP job go to people who have figured out how to care, how to show up, how to be open to new experiences. Our culture is built around connection and charisma and learning and the ability to not quit in precisely the right moments. 

But that's not easy to sort for in school, so we take a shortcut and resort to trivial measures instead.

What if we celebrated the students who regularly try the hardest, help each other the most and lead? We if we fast tracked those students, and made it clear to anyone else willing to adopt those attitudes that they could be celebrated too?

What if you got cast, tracked or made the cut because you were resilient, hard working and willing to set yourself up for a cycle of continuous improvement? Isn't that more important than rewarding the kid who never passes but still scores a lot of goals?

Before you feature a trumpet prodigy at the jazz band concert, perhaps you could feature the kid who just won't quit. No need to tell him he's a great trumpet player--the fact is, none of these kids are Maynard Ferguson--just tell him the truth. Tell him that every single person who has made a career of playing the trumpet (every single one of them) did it with effort and passion, not with lips that naturally vibrate.

We're not spending nearly enough time asking each other: What is School For?

Since I first published Stop Stealing Dreams to the web, it's been shared millions of times. My hope is that as we go back to school, you'll forward this video and this manifesto (screen edition) to every parent and teacher you know. (Here's a printable edition if you want to print it out and hand copies out).

Let's talk about school and figure out what we're trying to create.

       

 

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luni, 1 septembrie 2014

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


Black Sea Oil Claims Before and After Russia Annexed Crimea

Posted: 01 Sep 2014 07:37 PM PDT

The significance of the annexation of Crimea by Russia goes far beyond land territorial claims. Here are a couple of maps that show how Crimea affects oil rights in the black sea.

Black Sea Claims Before Crimea Annexation



Black Sea Claims After Crimea Annexation



The above charts from the New York Times article In Taking Crimea, Putin Gains a Sea of Fuel Reserves.

Russia did not annex Crimea just because of Black Sea claims. But, those claims make it all the more unlikely that Russia would ever cede Crimea back to Ukraine under any circumstances.

Moreover, Russia has no land connection to Crimea, and Russia has every reason to want to end that situation.

If you are looking for another reason for the rebel counteroffensive "march to the sea", you now have one.

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

Eurozone Manufacturing PMI at 13-Month Low, with Germany Worse than Expected, Italy and France in Contraction

Posted: 01 Sep 2014 07:27 AM PDT

The Markit Eurozone Manufacturing final data shows Eurozone Manufacturing PMI at 13-month low in August.
The rate of expansion in eurozone manufacturing production eased to its lowest during the current 14-month growth sequence in August, as companies faced slower increases in both total new orders and new export business. The final seasonally adjusted Markit Eurozone Manufacturing PMI® posted 50.7 in August, down from 51.8 in July, its lowest reading since July last year. The headline PMI was also below its earlier flash estimate of 50.8. National PMI data signalled a broad easing in the manufacturing recoveries underwa y across much of the currency union. Although Ireland was a noticeable exception, with its PMI at the highest level since the end of 1999, rates of expansion slowed in Spain, the Netherlands and Germany.

The rate of expansion in new work received also slowed to the weakest in the current 14-month period of growth. Economic and geopolitical uncertainties were the main factors underlying slower demand growth. Inflows of new export business posted the slowest rise since July 2013. France was the only nation to report an outright decline in new export orders in August, while rates of increase eased in Germany, Italy and Greece. Ireland, Spain and Austria reported stronger inflows of new export business.

The big-three nations of Germany, France and Italy all reported job losses, as did Greece. Staffing rose in Spain, the Netherlands, Austria and Ireland, but Ireland was the only nation to report a faster pace of hiring than in July. Signs that the manufacturing sector may be on course for further easing in the coming months was signalled by data on purchasing and stock holdings. Input buying volumes fell for the first time in over a year and inventories were reduced further as strong competition led companies to maintain a cost-cautious position. Meanwhile, the forward-looking ratio of new orders to finished goods inventories dipped to a 13-month low.

Countries Ranked by Manufacturing PMI® 

  • Ireland 57.3 176-month high
  • Spain 52.8 4-month low
  • Netherlands 51.7 13-month low
  • Germany 51.4 (flash 52.0 ) 11-month low
  • Austria 50.9 Unchanged
  • Greece 50.1 3-month high
  • Italy 49.8 14-month low
  • France 46.9 (flash 46.5 ) 15-month low 

Ireland, Spain, and the Netherlands cannot sustain a eurozone recovery. A recession in Germany is on the way, and will take the rest of Europe along for the ride. 

More sanctions on Russia will make matters worse.

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

On Labor Day:

 

Hi, everyone --

This Labor Day, I'm thinking about Austraberta.

I had breakfast at Austraberta Rodriguez's home in Houston two weeks ago. She's worked as a janitor for more than 30 years, and for most of that time, her wages put her below the poverty level. Every cent she's earned has gone toward providing the basics for her children and grandchildren. Today, she's still earning the minimum wage -- which, in Texas, is just $7.25 an hour.

Austraberta Rodriguez with her grandchildren

Austraberta told me over breakfast that a national minimum wage increase would mean more bread for her family. She said a few more dollars an hour would be "incredible." That raise wouldn't just go toward making Austraberta's life a little better. It would improve the odds for her children, grandchildren, and great-grandchildren too.

Austraberta's struggle is our struggle. On Labor Day, we celebrate all workers nationwide who contribute to our strength and prosperity. Because whether you made the burger or someone served it to you, whether you're driving the bus or riding on it, whether you're sweeping the floor or working in the clean office, you have a part to pla​y.

So today, if you're ready for a country that does right by Austraberta and the nearly 28 million Americans who stand to benefit from a $10.10 minimum wage, then honor them by adding your name here.

A higher minimum wage doesn't just help workers like Austraberta. It helps the businesses they work for too. It improves employee morale, productivity, and customer service. It reduces turnover, absenteeism, and training costs.

And besides, when working families have more money in their pockets, they pump it right back into their local economies. They spend it on goods and services where they live. And that helps the businesses providing those goods and services to grow. And that creates more jobs.

But it all starts with making good on that basic bargain: If you work hard and play by the rules, you shouldn't have to raise your family in poverty.

The President is doing his part, with an Executive Order that would increase the minimum wage to $10.10 for private-sector workers on federal contracts.

You can do your part, too -- and there's no action too small to show your support for folks like Austraberta. Folks like LeDaya. Like Holley. Like Aaron.

Today, more than a century after its inception, we still haven't identified the true "founder" of Labor Day, and maybe that's fitting. Because today isn't about one person. It's about every American who's working hard to get ahead -- and it's about the progress we can make when we work together.

You can do that right now by standing up and saying you're ready to reward hard work with a fair wage for everyone.

Happy Labor Day. Let's continue standing with our workers not just on the first Monday in September, but every day of the year.

- Tom

Secretary Tom Perez​
Department of Labor
@LaborSec


 

The Why, What, and How of Blogger Outreach for Your Clients

The Why, What, and How of Blogger Outreach for Your Clients


The Why, What, and How of Blogger Outreach for Your Clients

Posted: 31 Aug 2014 05:13 PM PDT

Posted by JessicaEdmondson

I. Why you should care about blogger outreach

I work at Distilled as part of the Promotions Team where much of what I do is working with bloggers. My job in a nutshell is to make the right demographic aware of my client's product/services.

When new B2C clients ask me what the benefits are of working with bloggers, I usually say something to the effect of: it's about marketing to people who will tell others about you (think word-of-mouth marketing).

Outreach let's you tap into influencers' reach and communities to get the right niche of people talking about your business, which ultimately impacts product/service trust and consumer purchasing behavior.

But, unless you're a smooth talker (which, I'm definitely not), then this elevator pitch won't be enough to convince your client to go with blogger outreach promotion. So instead, I've broken down 3 main talking points of why your B2C clients should want to work with bloggers.

Bloggers are mainly influencers

The Word of Mouth Marketing Association's definition of an influencer: "A person who has a greater than average reach or impact through word of mouth in a relevant marketplace."

Influencers can be anyone, from celebrities to your next door neighbor. But what's interesting to note is that Technorati reports influencers are mostly bloggers, as 86% of influencers have blogs and 88% of influencers say they blog for themselves.

And while not everyone who blogs is considered an influencer by definition, bloggers with smaller communities are proving more influential than their celebrity counterparts, as Technorati also reports 54% of consumers believe that the smaller the community, the greater the influence.

All in all: bloggers, even the smaller community ones, are influential. 

When looking more specifically at demographics, Nielsen reports that most bloggers are women, and 1 in 3 are moms. Overall, 52% of bloggers are parents. This is why you've probably heard the term "mommy blogger". But more importantly, this large demographic is perfect to tap into with family-friendly B2C clients. 

Bloggers are trustworthy sources for product/service research

When consumers want to learn more about products they're thinking of purchasing, IPSOS says 61% of global Internet users do their product research online.

Technorati reports that 31% of online shoppers are influenced by blogs (and only 56% are influenced by the retail sites themselves, so that's significant).

ConsumerPurchase2_edited.jpg

Image via Technorati

Blog posts are especially valuable for purchasing decisions

BlogHer's social media survey concludes that 70% of online consumers learn about companies through articles like blog posts, not ads. More significantly, these blog posts lead to consumer action, where 61% of online consumers are reported to have made a purchase based on recommendations from bloggers.

In the same breath, Burst Media's survey finds that 65.5% of blog readers say brand mentions or promotions within blog content influence their purchasing decisions.

BurstMedia.jpg

Image via Burst Media

II. What do blogger partnerships look like?

Earned vs. paid

Earned media is free coverage gained through promotional efforts other than advertising. When applied to blogger outreach, it is when bloggers promote your client without getting paid sponsorship fees, post fees, etc. Links and/or ranking for certain terms is never a guarantee with earned promotion. Overall, this form of outreach resembles what many PR and outreach teams do.

Paid media is purchased coverage. When applied to blogger outreach, it can take the form of brand ambassadors, paid-for sponsored posts, appearance fees, etc. Links and/or ranking should never be a factor in this form of promotion, since Google and Bing have explicitly said that this will not be a part of their algorithms (unless it looks like you're trying to trick them into thinking its earned). But if you want a particular demographic to know about your client's product/service, where they might not see the client's ads in TV/Newspapers, then this is a completely valid approach to reach them.

Choosing earned or paid blogger promotion really depends on your client's product/service and the particular demographic you're trying to reach.

Blogger preferences on campaign opportunities

When pitching bloggers on a campaign, Technorati reports bloggers most prefer receiving a first look or review opportunity for new products, offering prizes/samples/giveaways to their blog's audience, as well as the opportunity to create custom content.

pref.png

Image via Technorati

Condensing these findings into 2 themes for your client:

  • Give a first look or unique experience: Think bigger than just giving out product for bloggers to review. Instead, create an experience with your product by including them in your new product/service launch, or even creating an exclusive experience just for them.
  • Give them an opportunity that goes beyond benefiting themselves: Consider including their audience when designing campaigns for the blogger. Also, leverage bloggers' passion and expertise, not just their influence, by creating custom content for their readers, or even by providing prize or giveaway opportunities.

To give you a better look at what these two campaign styles actually look like, I've listed a few great examples below.

Give a first look or unique experience.

The Surprise Collection by Ariel

lala.jpg

Image via Lala Noleto

This campaign involved getting the online fashion niche talking about Ariel and its stain remover product. Ariel sent fashion bloggers surprise boxes of designer t-shirts that were so blotched with stains, that the clothing designs were completely indistinguishable beneath them. The mystery box also contained stain removal product and instructions on how to wash the material and reveal their free piece of designer clothing.

This campaign engaged its target audience and earning notable online coverage by displaying the Surprise Collection of clothing at the São Paulo Fashion Week 2013. Additionally, women could visit stores across Brazil to purchase the stained Surprise Collection with free Ariel samples to mirror the surprise reveal experience the bloggers had.

Overall, the campaign reported reaching more than 3 million women with the story, and more than 4,200 Facebook shares, 15K Instagram likes, an average of 1 Tweet per minute during the Fashion Week event and 1,500 purchased Surprise Collection kits.

Watch below for more details:

Ariel Surprise Collection from Rodrigo on Vimeo.

Give them an opportunity that goes beyond benefiting themselves

DIY Halloween Makeup Tutorials + Instructographics by eBay Deals

makeup-tutorial.png

Image via eBay deals blog

This campaign involved a collaboration between eBay deals and makeup video tutorialist vlogger Goldiestarling to get in front of beauty enthusiasts and to earn topical holiday coverage in the beauty niche.

This campaign featured a series of Youtube makeup tutorials from Goldiestarling, in which eBay provided complimentary makeup that was necessary to create 3 distinct Halloween looks, including 3D Stretched Lips, Steampunk Cinderella and Anatomy of a Pin Up. Alongside her featured video tutorials were step-by-step instructographics, like this one, featured on the eBay deals blog.

The result was a lot of attention on the professional DIY tutorials, with more than 600,000 video views and over 30 noteworthy posts of organic coverage on niche sites. Overall, this campaign was part of a larger 12-month eBay project where 20 campaigns, including this one, were launched that ultimately drove 390% growth in sales in one year.

Give BOTH a unique experience and offer an opportunity to readers

Fiesta Movement by Ford

Ford gave away 100 new 2014 Ford Fiestas to bloggers and social media influencers in 2013 for 6 months. Those who received the new Fiestas documented their experience for their followers, bringing greater exposure to the new product launch.

Image via Fiesta Movement

What really set this campaign a part, especially to the original campaign launch in 2009, was that Ford only used the content created by these 100 people for the new subcompact's ad campaign and launch. These bloggers and social influencers got to be part of the unveiling. And while they gave honest thoughts and feedback about the new Fiesta, Ford helped diversify their experience by assigning them missions around broad themes of the subcompact's features. The goal for this content was to be more authentic (non-salesy) and in line with what consumers are interested in learning about with the new product.

The result of the 2009 campaign was 4.3 million Youtube views, more than 500,000 Flickr impressions and 3 million Twitter impressions, as well as 50,000 interested potential customers of the Fiesta, 97% of which didn't own a Ford at the time.

While exact sales for the 2013 remix campaign are still unclear, Ford already has unique demo videos and content from its 100 participants and has continued to reach thousands with the remix launch.

III. How to start working with bloggers for your client

Technorati reports that the two top pain points for influencers with unsuccessful brand partnerships are of expectations of their time and irrelevant pitches. Also, what's believed to be lacking the most with branded partnerships is overall relevancy to their blog and audience.

tables.png

Image via Technorati

In order to break this down for you to see what unsuccessful opportunities really look like, I've defined these pain points below.

Expectations by brands that my time is free
Solution: Offer a win-win

This top pain point stems from offering a one-sided relationship to bloggers, one in which you ask them to promote your client without offering adequate compensation.

Their time is valuable and the amount of time to promote brands is often overlooked. According to Jennifer Lifford, who blogs over at Clean and Scentsible, a blog post takes about 5 hours to write and promote.

In order to make it worth their time, offer a win-win situation--one in which bloggers are adequately compensated for their time and effort.

According to Amy Latta, who blogs over at One Artsy Mama, a means of doing that is either offering great product to review or actual payment.

I enjoy reviews and giveaways if the product is valuable enough to be of interest to my readers as a giveaway and if I am adequately compensated... but the truth is, product doesn't pay our bills. I love spray paint, but it doesn't send my kid to school and goodness knows I can't eat it.

Number of irrelevant incoming pitches
Solution: Write tailored pitches

Irrelevant (crappy) pitches is also a huge pain point for bloggers and one that is easily solvable. Just write tailored pitches.

For instance, Malia Karlinsky, who blogs over at Yesterday on Tuesday, notes that she gets this same pitch every month from a magazine.

Hi there,

The September issue of X is available on newsstands today! Check out the attached highlights sheet for more info on the issue, and let me know if you're interested in sharing any of the features with your readers.

[Excerpt of magazine interview]

Looking forward to your thoughts!

X

She'd answer the email if it clearly provided a value to her and her readers (could she give a free issue out?).

In order to better your chance that your pitch email will be opened, read and answered, clearly identify the what (project), why (benefits to participate), and how (to get started) for the blogger.

Overall, make sure what you're pitching is a good fit

As seen in the above chart, Technorati reported that what's lacking most with pitched partnerships is the relevancy to their blog and audience.

Lisa Wong, who blogs over at Solo Lisa, evaluates the relevance of pitches to her and her audience by a brief Q/A.

Do I believe in this company's products?

Would I purchase something from this brand?

Does the brand have a good reputation?

Are they a good fit for my blog's beauty, fashion, and lifestyle focus?

And last but not least, will this be fun?

In order to make sure bloggers answer this Q/A positively about your client's product/service, I've outlined 3 main ways in vetting bloggers.

Check out bloggers' About Me pages

Lisa's About Me page shows at the top what her passions are, including reviewing beauty products. Below that, she also notes her influence via Press and Blog Features where you can get a better understanding that she enjoys fashion and beauty topics.

Like with Lisa's, let blogger About Me pages guide you in vetting what bloggers you want to work with and also in helping you understanding if what you're pitching is actually a good fit.

Check out their current and previous posts

One of Lisa's recent posts on her blog is about reviewing makeup products she uses on a regular basis.

Browsing through bloggers' recent posts like this one is an easy way to discover if the blogger covers similar products and in what way.

Check out their social channels

Lisa's Instagram also gives good insight into what type of content she likes to share and engage with.

You can browse social channels of bloggers, like with Lisa, to see who they engage with (brands) and what they find value in sharing (posts, pins, tweets, RTs, etc.) to better ensure you're a good fit.

IV. In short

Blogger outreach is a great way to get the right demographic talking about your client's product/services. Bloggers will not only expand your client's brand exposure to their community, but they'll also affect consumer purchasing decisions.

In order to work successfully with bloggers, though, consider offering them campaigns that give a first look or review opportunity for your client's product/services. And when pitching them, make sure what you're offering is genuinely mutually beneficial as well as relevant to their blog and audience.

Overall, this post serves to gives you a why, what and how glimpse inside blogger outreach. For more resources on specific blogger outreach tactics, look here and here. For more information on how to measure success of these campaigns, look here.

Have you worked on successful blogger outreach campaigns before? Tell me in the comments below! 


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Seth's Blog : Forgive yourself

 

Forgive yourself

Forgive yourself for not being the richest, the thinnest, the tallest, the one with the best hair. Forgive yourself for not being the most successful, the cutest or the one with the fastest time. Forgive yourself for not winning every round.

Forgive yourself for being afraid.

But don't let yourself off the hook, never forgive yourself, for not caring or not trying.

       

 

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duminică, 31 august 2014

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


Putin Calls for Eastern Ukraine Statehood

Posted: 31 Aug 2014 04:20 PM PDT

Putin threw fat into the Ukrainian fire today by calling for Talks on Eastern Ukraine Statehood.

The question at hand is" What precisely does Putin mean by "statehood" ?
Russian President Vladimir Putin called on Sunday for immediate talks on the "statehood" of southern and eastern Ukraine, although his spokesman said this did not mean Moscow now endorsed rebel calls for independence for territory they have seized.

The Kremlin leader's remarks, two days after a public appearance in which he compared the Kiev government with Nazis and warned the West not to "mess with us", came as Europe and the United States prepared possible further sanctions to halt what they say is direct Russian military involvement in the war in Ukraine.

Germany aired suspicions that Moscow might be trying to create a land corridor to supply Crimea, which it annexed from Ukraine in March, while the four-month conflict moved onto the sea for the first time on Sunday. The separatists said they had fired on a Ukrainian vessel in the Azov Sea using land-based artillery, and a military spokesman in Kiev said a rescue operation was under way.

Ukrainian troops and local residents were reinforcing the port of Mariupol on Sunday, the next big city in the path of pro-Russian fighters who pushed back government forces along the Azov Sea this past week in an offensive on a new front.

Talks should be held immediately "and not just on technical issues but on the political organization of society and statehood in southeastern Ukraine", Putin said in an interview with Channel 1 state television, his hair tousled by wind on the shore of a lake.

Moscow, for its part, he said, could not stand aside while people were being shot "almost at point blank".

Putin's spokesman Dmitry Peskov said there was no new endorsement from Moscow for rebel independence. Asked if "New Russia", a term pro-Moscow rebels use for their territory, should still be part of Ukraine, Peskov said: "Of course."

"Only Ukraine can reach an agreement with New Russia, taking into account the interests of New Russia, and this is the only way to reach a political settlement."
Federation or Totally Independent Eastern State?

If one takes the statements from Russia at face value, it appears Putin is calling for a loose federation of some sort, with far more autonomy for the regions. Regardless, previous statements from Kiev shows Ukraine will not go for that.

Perhaps the threat of outright victory by the rebels will change their mind.

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

Eurozone Currency Dispute Intensifies: France Wants More ECB Action to Correct Overvalued Euro, Germany Doesn't

Posted: 31 Aug 2014 09:06 AM PDT

The currency and fiscal battleground front lines in Europe remains the same. France wants QE, fiscal stimulus, and more leeway on meeting fiscal deficit targets. Germany doesn't. And the fighting has strengthened.

The idea that ECB can produce nirvana by devaluing the euro is ridiculous. Yet, that's the battle cry of the day.

Bloomberg reports France Asks for More Action From ECB to Correct Overvalued Euro.
French Prime Minister Manuel Valls called for more action from the European Central Bank to lower the value of the euro, amid concerns the 18-nation region might be headed toward deflation.

"The monetary policy has started to change," Valls said today in a speech made at the Socialist Party's summer school in La Rochelle, France. While he called the ECB's package of measures taken in June a "strong signal," he also said that "one will have to go even further."

Valls's comments come after ECB President Mario Draghi, who'll meet French President Francois Hollande tomorrow in Paris, signaled that declining inflation expectations are pushing the central bank toward introducing quantitative easing. Policy makers will gather in Frankfurt on Sept. 4 for their monetary-policy meeting.  

Inflation in the currency bloc slowed to 0.3 percent in August from a year earlier, the lowest since 2009, compared with an ECB target for price growth of just under 2 percent. Draghi has said that the ECB stands ready to embark on unconventional measures such as broad-based asset purchases to avoid a deflationary spiral of falling prices and households postponing their spending plans.  

In his speech, Draghi also called for complementary action on a European level and "a large public investment program." German Chancellor Angela Merkel was disgruntled with the comments and called Draghi to ask if the ECB had changed course on austerity, Der Spiegel reported, without saying where it got the information.

The magazine's assertion that Merkel "demanded answers" from Draghi "in no way corresponds to the facts," Merkel spokesman Steffen Seibert said in a text message.
Inflation Won't Cure France

Contrary to popular belief, inflation will not spur consumer spending. Nor will inflation create any jobs or cause wage inflation.

Nonetheless, France demands the ECB wizards fix something that cannot be fixed by monetary policy.

Problem number one is the eurozone itself. The euro is fatally flawed. In addition, France's problem is that it is not competitive with Germany and arguably even Spain, not that the Euro is too high.

France desperately needs structural reforms.

  • It is nearly impossible to fire someone in France, so businesses are reluctant to hire. 
  • Government and union rules on everything are sheer madness.  
  • France seeks to save local bookstores by taxing online retailers and elimination of free shipping. 
  • Agricultural subsidies to save inefficient French farms (at great expense to the rest of Europe) are inane. 
  • Pension rules need fixes, and the retirement age needs to increase.
  • The "French way of life" is incompatible with rising productivity, especially on a relative basis, so France is increasingly left behind.

How is QE supposed to fix all that? It can't and it won't, but it increasingly looks as if the ECB may give it a try.

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

Seth's Blog : It's a great book, it has no typos!

 

It's a great book, it has no typos!

And you really have to check out this hotel, it's dark in your room at night. And quiet, too.

Quality is now a given. Quality alone is not remarkable.

Surprise and delight and connection are remarkable.

       

 

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