|
|
Mish's Global Economic Trend Analysis |
Posted: 02 Mar 2011 08:25 PM PST Cash strapped states are furious with Amazon.Com over sales tax collections. Several states passed laws or have sent Amazon bills. Amazon's response in every case so far is to leave the state. Amazon to close Texas distribution center amid sales tax fight The Statesman reports Amazon to close Texas distribution center amid sales tax fight Online retail giant Amazon.com will close its suburban Dallas distribution center amid a dispute with the state over millions in uncollected state sales taxes, The Associated Press reported Thursday.ACLU, Amazon face North Carolina tax collectors in Seattle court Flashback October 13, 2010: ACLU, Amazon face North Carolina tax collectors in Seattle court North Carolina tax collectors say they want Amazon.com to turn over the names and addresses of customers in their state and a description of all purchases so they can get the sales-tax money they're owed.North Carolina Drops Lawsuit Against Amazon Flash Forward February 12, 2011: North Carolina Drops Lawsuit Against Amazon You probably are aware that online vendors – such as Amazon – do not charge sales tax to customers outside their home state. You also know that this has created much the controversy with the states, ever eager to tax to anything that moves within their borders. To be fair, if a person went a sticks-and-bricks store to purchase an item, the transaction would be sales taxable. It is the intermediation of the internet that presents the problem. And it is a problem. For example, I recently purchased an item from Britain. Would it be reasonable for that vendor to charge me Kentucky sales tax, as I live in Kentucky and the transaction would otherwise go untaxed?The Court Ruling Please consider the Amazon, North Carolina, ACLU Privacy Lawsuit Settlement U.S. District Judge Marsha Pechman ruled last October that the North Carolina Department of Revenue had overstepped its boundaries with its request for personal information, and noted that there is "no legitimate need" for them to have such information.Texas Tries a Different Tact Unlike North Carolina, instead of requesting information from Amazon, Texas Sends Amazon a $269 Million Sales Tax Bill As states grapple with increasingly squeezed budgets, one simmering battle -- trying to collect sales taxes from retailing behemoth Amazon has heated up considerably over the past year. The jury's still out on how much money states like Rhode Island and North Carolina (which is thick in litigation with Amazon over this very issue) will get from online sales-tax initiatives. But Texas has issued its own bill to Amazon -- to the tune of $269 million.Amazon Threatens to Leave 10,000 California Affiliates Inquiring minds are investigating a March 2, 2011 post on Bloomberg: Amazon.com Threatens to Cut Ties With California Affiliates Over Tax Issue Amazon.com Inc. (AMZN), the world's largest online retailer, has threatened to sever ties with more than 10,000 affiliates in California amid a dispute with the state over proposed taxation of Internet purchases.I am an Amazon affiliate in Illinois. I make 30 cents or something when someone buys a book on my recommended reading list. It does not cost anyone a penny. Indeed, if someone would rather that 30 cents go to Amazon instead of me all they have to do is remove the tag "mishsglobalec" from the link. Note that 30 cents is a made-up number because it varies by price and I do not even know the percent. My recent statement shows a total of $246.62. I wonder how many books that is. Will getting rid of 10,000 Amazon affiliates in California accomplish anything? If so what, and in what timeframe? Consider my blog for example. Will I change my recommended reading list or stop pointing to Amazon? The answer is no. Amazon provides a good service and fast execution in my opinion. I am not using Amazon for the money. Others may be, but how much would it matter? It will be interesting to see how this plays out. 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: 02 Mar 2011 11:07 AM PST A consulting firm founded by economist Nouriel Roubini said there could be close to $100 billion of municipal-bond defaults over the next five years as state and local government-debt problems damp the U.S. economic recovery. That figure would by most estimates represent a significant increase over defaults in recent history, but it doesn't appear to be as dire as a prediction last year by analyst Meredith Whitney.Pollyannaish but not Systemic? I do think there is a systemic concern in regards to pension funding. State public pension funds are $3 trillion in the hole and that is a systemic concern in and of itself. I do not have an estimate for city and county public pension plans but that could easily be another $3 trillion in underfunding. Cities and states are without a doubt insolvent as I type. Oakland, Detroit, Miami, San Francisco, Los Angeles, Houston, Cincinnati, Newark, and countless other cities big and small are insolvent. It is unclear if Roubini Global Economics considers those pension problems as a separate issue. I will see if I can get an answer. Otherwise, my assessment is similar, at least for now. I do not think we see a massive wave of defaults on bondholders. The biggest defaults will affect pension plans (assuming nothing is done), not bondholders in general. Promises that cannot be met won't, and public pension plans are near the top of the list. Nonetheless, the defaults that do occur will rattle the municipal bond market and deservedly so. Bank Borrow-Short Lend-Long Schemes I do have another systemic issue in mind. I discussed it in The Next Borrow-Short Lend-Long Guaranteed to Blow Up Bank Lending Scheme; Citigroup, Chase, Bank of America CD Ripoff The issue is banks have gone straight to direct issuance of loans to municipalities, bypassing the bond market. Banks are lending straight to municipalities at rates as low as 3.85% for 21 years. Those terms are begging for trouble. Here is my comment from the above link. Fed or FDIC Should Stop this Fraudulent Scheme NowPlease see my discussion for more details. FDIC Shock Testing In response to that post, I received an interesting Email from "ABO" a Bank Owner and CEO regarding new FDIC shock testing exams. ABO writes ... Hello MishLast week a Bloomberg columnist asked for details regarding that stress test. Unfortunately, not only are the findings confidential, but so are the questions. However, I do have a bit more to add from a second email exchange with ABO. Shock Testing Now Includes Munis for First Time ABO Writes ... The reports and content are confidential, otherwise I would be happy to help you. They also asked us to audit the Municipal bond portfolio for quality as well. That was also a first.I asked ABO for a contact at the FDIC so I can raise my concerns directly. I do not have a response on that yet. 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. |
USA Incorporated - a Look at the Grim Financial Situation of the USA Posted: 02 Mar 2011 01:56 AM PST Inquiring minds are digging deep into a 266 page PDF called USA Inc. a basic summary of America's financial statements. It is loaded with stunning graphs and charts on Social Security, Medicare, Medicaid, TARP Bailouts, Fannie Mae and Freddie Mac, military spending, tax revenues, and various projections. Here are a few images, but please give the document a closer look when you have a few moments. Click on any chart to see a sharper image. Cash Flow ![]() Expenses at a Glance ![]() Unfunded Liabilities ![]() Federal Spending as Percent of GDP Note this mess started with the creation of the Fed ![]() Growth in Entitlement Spending ![]() Take a step back, and imagine what the founding fathers would think if they saw how our country's finances have changed. From 1790 to 1930, government spending on average accounted for just 3% of American GDP. Today, government spending absorbs closer to 24% of GDP. Spending + Interest vs. Revenues ![]() By 2025, entitlements plus net interest payments will absorb all – yes, all – of USA Inc.'s revenue, per CBO. Less than 15 years from now, in other words, USA Inc. – based on current forecasts for revenue and expenses - would have nothing left over to spend on defense, education, infrastructure, and R&D, which today account for only 32% of USA Inc. spending, down from 69% forty years ago. This critical juncture is getting ever closer. Just ten years ago, the CBO thought federal revenue would support entitlement spending and interest payments until 2060 – 35 years beyond its current projection. To 25 Countries in Defense Spending ![]() Entitlement Spending by Household ![]() Medicaid Underfunding ![]() When Medicaid was created in 1965 to provide health insurance to low income Americans, 1 in 50 Americans received Medicaid, now 1 in 6 Americans receives Medicaid. Healthcare Spending ![]() Social Security Workers vs. Retirees ![]() Social Security Dependents ![]() GSE, Fannie Mae, Freddie Mac Expansion ![]() If that is not a shocking state of affairs, what is? There are lot more charts and graphs in the PDF. 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. |
You are subscribed to email updates from Mish's Global Economic Trend Analysis To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
Google Inc., 20 West Kinzie, Chicago IL USA 60610 |
How to Choose a New Domain Graywolf's SEO Blog |
Posted: 02 Mar 2011 07:34 AM PST One of the questions I get asked quite regularly is how do I choose a new domain name for a project I decide to work on. There are quite a few aspects I take into account that I will share with you. Exact Match Domains – If you can get an exact match domain, do it. Google says they might be working on lessening its effect on rankings … maybe … but, either way, I would still prefer an exact match domain over any other domain. Period. That said, getting an exact match domain name that isn’t already registered is going to be pretty difficult. Not everyone is going to be able to spend 5 million on a domain, but there are plenty of times when it’s worth it. Keyword Domains – If you can’t get the exact match domain, getting a domain with the keyword in it is the next best thing. I prefer to get the keyword toward the front if possible (ie LasVegasHotelDeals.com as opposed to DealsLasVegasHotels.com). Brand Name or Trademarked Domains – I can tell you from first hand experience you want to avoid these like the plague (see Truth behind GoogleDashboard.com) . If you want to register NFLSexKittens.com to keep someone else from doing it, go ahead, but don’t develop on it; instead, develop on the generic FootballSexKittens.com domain. Just trust me: these types of problems never end well. Misspellings or Creative New Spellings – IMHO Google has gotten really good at correcting misspellings–so good, in fact, it’s rarely worth actively chasing misspellings. Additionally, avoid made up words that are missing vowels unless you have a huge marketing budget. Flickr.com may look like a good domain now but a lot off $$$ was spent on getting people to not go to Flicker.com before it was purchased and redirected. Hyphens – Coming from the guy who writes on a hyphenated domain, I can tell you: don’t do this. It’s a huge PIA and the dash just never works when spoken. Length – When I talk about length, I’m talking about the actual number of characters, not the registration period. Shorter is almost always better than longer. Billboard Quality – A few years ago, there was a thread on WMW about domains having billboard quality, or specifically how memorable is the domain name that someone sees on a billboard. If you can get a more memorable domain that is longer, go with that instead of the shorter one, but it really should be more memorable. TLD – if you can, always try to get the .com, .net, and .org variations. If you can’t, get .com first, .org second, .net only if it’s an exact match; otherwise choose again … really. Don’t use country TLD’s unless they are going to be used in country. IMHO Google doesn’t have this sorted out yet for all TLD’s that don’t have residency restrictions. I’ve complained about it multiple times to multiple Googler’s who chuckle at my predicament. 2AM Rule – Everyone I know has some variation of this story … it’s late and maybe you had a drink or two. You check some domain names and find they haven’t been registered yet. You expand your search and find more. The next day you wake up to $200 of new domains you registered that quite likely have typo’s in them or don’t seem like anywhere near as good an idea. No domain registrations after 2 AM. End of story. Whois Info – Using the “creative” whois info can get you into trouble with domain ownership if someone presses the issue. If you are going to use private whois info, don’t link up the account with the same adsense or google analytics account. Google will figure it out. I have seen some evidence that having real info that matches address info can help your rankings. Length of Registration – Registering a domain for multiple years may not help you, but it will never work against you. ![]() Related posts:
Advertisers:
This post originally came from Michael Gray who is an SEO Consultant. Be sure not to miss the Thesis Wordpress Theme review. |
Raven SEO Tools Review: Social Media Posted: 01 Mar 2011 08:13 AM PST Raven SEO Toolset in a powerful tool in any SEO’s toolbox. In the first part of this series, we looked at Using Raven SEO Tools to Manage and Track Your Keywords. In this post we’re going to be looking at using Raven to manage your social media profiles. The first thing we’re going to do is connect a Twitter profile. Go to the Social > Twitter Profile tab. Once there, click the “Add Twitter Profile” link. You’ll then pass through the oAuth screen, so make sure you are signed into the correct account before you start this process. Once verified, you’ll be brought to the twitter dashboard with some account information, as shown below. If you scroll down, you’ll see your feed and even find post live or scheduled Tweets to your account. To be honest, I don’t use the scheduled tweet function here; I use Hootsuite (see Hootsuite review) because the hootlet bookmarklet fits into my workflow a little better. Your approach might be different. Despite not using it, I have tested it and can say it works without any batching, repeating, or duplicating issues. You can check a number of things using Raven Tools like how many times you are mentioned or retweeted, monitor your friends and followers, and see how much traffic Twitter sends to your website. Bear in mind that tracking twitter referrals is difficult and inexact at best. Next we’ll look at adding your Facebook Page into Raven. Go to the Social > Facebook tab in the main navigation. Choose your Facebook page from the options (sorry about the redaction). Once you have confirmed the page, you’ll see summary of your page, posts, fans, and so on. My page is new and wasn’t really in use before hand, so it’s a bit empty now. Raven also allows you to track mentions of your name, company name, product name, or other keywords across social media sites. Depending on how unique those keywords are, you may have to spend some time building a better query; for example, my name [Michael Gray] turned up a lot of people who weren’t me, such as the realtor, DJ, and sports commentator. Here’s a screen shot to give you an idea. Another tool built in to Raven is the ability to search forums for your keywords. In this case, I searched for [Michael Gray SEO]. This gives you the ability to see who is talking about you or if there are any conversations you want to participate in. The last step you’ll want to take here is adding this information to the dashboard for this profile. If you are looking for live, up-to-the-minute data, Raven probably isn’t the right social tool for you. It’s up to date, but there is a slight lag. However IMHO there are very few instances where you really need real-time data. Raven’s strength lies in is its ability to manage one or more social profiles all in one spot, quickly and easily. That is the greatest value it brings to an affiliate SEO, independent SEO, or SEO consultant. To be clear, I am a current paying customer of Raven SEO Tools. If you sign up from my link, I will get a commission. However, I feel that this is a tool that can help you be more productive and make more money, which is why I’m comfortable recommending it. Feel free to try Raven Tools for 30 days for free. You don’t even need a credit card to sign up … ![]() Related posts:
Advertisers:
This post originally came from Michael Gray who is an SEO Consultant. Be sure not to miss the Thesis Wordpress Theme review. |
You are subscribed to email updates from Graywolf's SEO Blog To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
Google Inc., 20 West Kinzie, Chicago IL USA 60610 |