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The trifecta of competition:
Faster than the other guy. Faster to the market, faster to respond, faster to get the user up to speed.
Better than the other guy. Better productivity, better story, better impact.
and More. More for your money. More choices. More care. More guts.
You have more competition than you did yesterday. I expect that trend will continue.
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Mish's Global Economic Trend Analysis |
Professor at Alaska University Chimes in on Public Unions and the Situation in Wisconsin Posted: 25 Mar 2011 02:08 PM PDT A few days ago I received an email from Roland Stearns, a professor at University of Alaska in Anchorage. He copied me on a response he sent to Randi Weingarten, president of AFT a self-proclaimed "union of professionals" . Weingarten asked professor Stearns to "take the pledge in support of fairness, justice, democracy and workers' voice." I am pleased to report that professor Stearns took a stand against the coercion, bribery, and slavery tactics endorsed by those in favor of collective bargaining and union extortion. Here is professor Stearns reply to Randi Weingarten and the AFT... Dear Mr. Weingarten,Issue of Slavery I frequently receive such emails but I will only post them if I can use a name. Roland graciously agreed. I thank Roland Stearns for his brave public stance because there is little doubt he will soon be under attack by those who support slavery and coercion. I am particularly pleased by Stearns' comparison of union "rights" to tactics in the South that allowed whites the "right" to displace blacks in seating on buses. Rights of unions must not and cannot be allowed to interfere on the rights of other to NOT belong to a union, or pay union dues if they do not want to. The "right to work" is a universal right and union slavery advocates stand firmly in favor of slavery on this point. For more on the slavery aspect of public unions and collective bargaining advocates, please see
Here is a short list from the article of those in support of slavery.
Read the links. I make a case, point by point. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Click Here To Scroll Thru My Recent Post List Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific. |
Posted: 25 Mar 2011 10:59 AM PDT In the wake of falling US consumer confidence, let's take a look at global consumer confidence headlines starting with the US. US Consumer Confidence Lowest Since November 2009 Bloomberg reports U.S. Consumer Sentiment Fell More Than Forecast in March The Thomson Reuters/University of Michigan final index of consumer sentiment decreased to 67.5, the lowest level since November 2009, from 77.5 in February, the group said today. The median forecast of 67 economists surveyed by Bloomberg News projected a reading of 68.Future Expectations Gauge Plunges ZeroHedge has a nice chart of Consumer Confidence "Expectations" The Expectations component had its fifth largest drop in history, plunging from 72 to 58. This is a lower reading than that recorded when the "recession", according to the NBER at least, was still raging. As a reminder the recession ended with "expectations" at 70.Consumer Expectations Index at 57.9 South Korean Consumer Confidence Drops to 23-Month Low Please consider South Korean Consumer Confidence Drops to 23-Month Low After Japan Quake South Korean consumer confidence fell to the lowest level in almost two years, damped by Japan's strongest earthquake and political unrest in the Middle East. Retailers' stocks dropped in Seoul trading.U.K. Consumer Confidence at Record Low Are things so bad in the UK they cannot get worse? Somehow I doubt that. Meanwhile please ponder U.K. Consumer Confidence at Record Low on Economic Worries U.K. consumer confidence fell to a record low in February as Britons grew more pessimistic about the sustainability of the economic recovery and the outlook for jobs, Nationwide Building Society said.EU Consumer Confidence drops to -10.6 FXStreet reports EU Consumer Confidence drops to -10.6 in March The EU consumer confidence index worsened slightly to -10.6 in March, compared to the revised -10.0 it recorded the month prior and the -11.0 which was expected.French Consumer Confidence at 8-Month Low Bloomberg reports French Consumer Confidence Declines on Higher Energy Prices French consumer confidence fell to an eight-month low in March as surging energy costs sapped spending power and President Nicolas Sarkozy readied a new wealth tax.Look on the Bright Side Being the ever-optimist, I like to look on the bright side. Please consider German consumer confidence rises on wage hopes. German consumer confidence is rising as workers expect wages to increase in 2011, according to a survey by market research group GfK.Such is the nature of the ECB's "One Size Fits Germany" Interest Rate Policy. Icing on the Three Little PIIGS' Cake We all know there's nothing quite like a mix of income tax tax hikes, high gasoline prices, rising food prices, and 7-year high jobless rates to boost consumer confidence. Interest rates hike by the ECB will be icing on the three little PIIGS' cake. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Click Here To Scroll Thru My Recent Post List Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific. |
Posted: 25 Mar 2011 02:48 AM PDT In the wake of the collapse of the Portuguese government comes the not unexpected news Portugal May Need $99 Billion Rescue A bailout for Portugal may total as much as 70 billion euros ($99 billion), two European officials with direct knowledge of the matter said, as credit-rating cuts threatened to deepen Portugal's debt woes.Some Weigh Restructuring Portugal's Debt Does Portugal need $99 billion as stated by Bloomberg or $113 Billion as estimated by the New York Times? The real question is when does restructuring the debt of Ireland, Greece, and Portugal start? Please consider Some Weigh Restructuring Portugal's Debt As Europe struggles to come to grips with its debt crisis, which has deepened with the collapse of Portugal's government after it pushed for yet another round of budget cuts, three numbers stand out: 12.4, 9.8 and 7.8.Can Merkel Make Up Her Mind? German Chancellor Angela Merkel has wasted a lot of political capital by proposing much needed sovereign debt haircuts then changing her mind under pressure from ECB president Jean-Claude Trichet. Moreover, many Germans are upset by her wishy-washy constantly changing bailout proposals that are in violation of the Maastricht Treaty. In the wake of the nuclear crisis in Japan, she is accused of playing politics regarding her switch on nuclear energy. Now she is balking about an EU proposal she accepted just 4 days ago. Please consider EU Cuts Future Aid Fund's Start-Up Capital After Germany Balks. European Union leaders cut the startup capital for the future euro emergency aid mechanism after German demands to make smaller upfront payments stoked fresh concerns about Europe's effort to quell the debt crisis.Spotlight on Spain The Wall Street Journal reports Spain Takes Turn in Debt Spotlight Portugal's admission that it will probably need a financial bailout raises a question that will shape the outcome of the euro zone's debt crisis: Is Spain next?Spain's Capital Shortfall "Substantially" Higher than Bank of Spain Admits Spanish lenders face a capital shortfall that's "substantially" higher than an estimate by the Bank of Spain because they haven't accounted for all of their real-estate losses says Jesus Ecinar, founder of the largest property website in Spain. Please consider Bank of Spain Underestimates Funding Gap Faced by Lenders Spanish lenders face a capital shortfall that's "substantially" higher than an estimate by the Bank of Spain because they haven't accounted for all of their real-estate losses, according to Jesus Encinar, founder and chief executive officer of Idealista.com.Spain's Nightmare Scenario Nearly every day of the week I receive emails from my friend Bran who lives in Spain. Many of the links Bran sends are in Spanish. Sometimes he translates the highlights. Today he writes ... An S&P "nightmare" scenario quoted by El Pais, not only assumes a fall in housing prices by 45%, it also assumes GDP to fall by 20% between 2011 and 2015, a destruction of a quarter of today's jobs and interest rates to reach 17%. In this worst case scenario Spanish banks and savings banks would need an injection of public capital of €64bn, equivalent to 6% of GDP.Spanish speaking readers may wish to consider "La agencia parte de una caída del PIB del 20% y una destrucción del 25% del empleo" English Speaking readers can follow this Google translation: S&P believes that in an extreme case the bank would need 64,000 million Right now, the two things propping up the Euro are Trichet's expected rate hikes and speculation that Spain will not need a bailout. Both are questionable ideas to say the least. I happen to think the "nightmare" scenario is the realistic one. If so, those who think Spain will not need a bailout need to think again. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Click Here To Scroll Thru My Recent Post List Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific. |
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Posted: 24 Mar 2011 09:58 PM PDT The Munchkin is a cat breed created by a naturally occurring genetic mutation that results in cats with abnormally short legs. However, the shortness of their legs does not seem to interfere with their running and leaping abilities. The gene responsible has been compared to the one that give Welsh Corgis, Basset Hounds and Dachshunds their short stature; however, Munchkins do not suffer from the many spinal problems that are typically associated with those canine breeds as cats' spines are physically different from dogs'. The spine of a Munchkin cat is usually indistinguishable from that of other cats. |
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