|
miercuri, 26 martie 2014
Ian Neate sent you a message: You received a video: "M&G Home Business"!
Seth's Blog : Your story about money
Your story about money
Is a story. About money.
Money isn't real. It's a method of exchange, a unit we exchange for something we actually need or value. It has worth because we agree it has worth, because we agree what it can be exchanged for.
But there's something far more powerful going on here.
We don't actually agree, because each person's valuation of money is based on the stories we tell ourselves about it.
Our bank balance is merely a number, bits represented on a screen, but it's also a signal and symptom. We tell ourselves a story about how we got that money, what it says about us, what we're going to do with it and how other people judge us. We tell ourselves a story about how that might grow, and more vividly, how that money might disappear or shrink or be taken away.
And those stories, those very powerful unstated stories, impact the narrative of just about everything else we do.
So yes, there's money. But before there's money, there's a story. It turns out that once you change the story, the money changes too.
More Recent Articles
- The debilitating myth of musical chairs
- Not even one note
- Compromise, design and the literal edges
- Bulldozers and bullwhips
- Two ways to listen
[You're getting this note because you subscribed to Seth Godin's blog.]
Don't want to get this email anymore? Click the link below to unsubscribe.
Email subscriptions powered by FeedBlitz, LLC, 9 Thoreau Way, Sudbury, MA 01776, USA. |
marți, 25 martie 2014
Mish's Global Economic Trend Analysis
Mish's Global Economic Trend Analysis |
- IRS Clarifies Bitcoin as Property Not a Currency; What are the Implications?
- Rise of the Eurosceptics: Socialists Hammered in French Elections; Le Pen Surprises, Calls for "Alliance of Eurosceptics"
- Ukraine's Hryvnia Down 10 of Last 11 Days, Nearly Back to All-Time Low vs. US Dollar; Default Back in Play?
- Jeremy Grantham 1999, Jeremy Grantham Today: "Over Next Seven Years, Market Will have Negative Returns"
IRS Clarifies Bitcoin as Property Not a Currency; What are the Implications? Posted: 25 Mar 2014 07:07 PM PDT Today the IRS further legitimized bitcoin simply by issuing a ruling bitcoin is property not currency. In some respects this was the best possible ruling for bitcoin. In other respects it subjects those who intend to use it for everyday transactions to potentially huge bookkeeping requirements. Please consider I.R.S. Takes a Position on Bitcoin: It's Property. The Internal Revenue Service may have just taken some of the fun out of Bitcoin. But that may mean that the virtual currency is growing up.What are the Implications? As I have said, Bitcoin is here to stay. Moreover, because of the IRS ruling, bitcoin has tax advantages over currencies. However, for day-to-day transactions, accounting is potentially a problem. One needs to track gains and losses from both a long-term and short-term perspective on every purchase! Regardless of the property distinction, I am still willing to bet that I took the correct side in Missing the Boat on Bitcoin Ownership; Theoretical Question Regarding Bitcoin Theft Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com 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 2014 10:49 AM PDT Round one in French elections is over, and the socialists were hammered. The victor was Marine Le Pen's Front National party. The Socialists only received 43% of the votes, with the center-right pulling in 46-48%. Front National only got 5-7% (reports vary), but that was far better than expected. Front National fielded candidates in fewer than 600 of France's 36,000 municipalities. The goal of the socialists was to prevent Front National from winning a mayoral race in any town. They failed. Recall that French elections are in two rounds. If someone gets 50% in the first round, they win. Otherwise there is a runoff between the top two candidates. Le Pen Surprises in French Elections The Guardian reports Le Pen Grows Stronger Amid Disillusion as FN Surprises in French Elections Was this the moment the Front National became more than just a protest party?Swing to the Right EuroNews reports France's Front National Far Right Punches High in Local Polls In France's latest municipal elections, almost four out of ten voters abstained. The centre-right UMP did best in Sunday's round one, scooping more than 46 percent of the country's votes, the governing Socialist party almost 38 percent. Notably, however, the far right Front National (FN) packed quite a punch.Le Pen Calls for "Alliance of Eurosceptics" Via translation from Corriere.It, please consider Le Pen Calls for "Alliance of Eurosceptics" Regarding European elections in May, which according to some surveys, the National Front is credited in first or second place, Le Pen has called on all euro-skeptics in Europe, including the Five Star Movement and the Northern League, to do so to "be as many in the pews of the European Parliament."Le Pen a Bigger Threat than Grillo Commenting on the above story, Eurointelligence offered this opinion "Those who dismissed Grillo as a comedian have clearly underestimated him. The bit of his past he has not shaken off is that he is still performing a one-man show, unwilling to form coalitions of any kind, in Italy and at EU level. This is why Le Pen is a far more potent threat than Grillo." Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com 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 2014 09:23 AM PDT Following the imposition of capital controls towards the end of February, Ukraine's currency, the Hryvnia recovered a bit over a period of six days. Since then it has been nearly all downhill, losing to the US dollar in 10 out of the last 11 days. click on chart for sharper image Given that about half of Ukraine's debt is in foreign currencies, the latest plunge spells renewed trouble. The Economist notes The Ukrainian shadow economy is one of the biggest in the world—at around 50% of GDP, according to IMF research. Businesses operating underground tend not to pay taxes, further depriving the government of funds. And last week Ukraine's new prime minister estimated that $37 billion had gone missing during Viktor Yanukovych's rule.Default back in play? Probably not, but a wrecked country is a near certainty. The Troika is highly likely to put together some economically crippling "aid" program to stave off default just as it did to Greece and Cyprus. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com 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: 24 Mar 2014 11:49 PM PDT It is extremely difficult to sit out a party. Do so and you lose both clients and assets. Invest in unloved and undervalued assets and you do even worse. But what is the alternative? Get drunk like everyone else? I have to admit (time and time again actually), that this market has gone further, faster, than I thought possible. Bubbles of the current magnitude have never been blown back-to-back in such a short timeframe. I am not the only one who see things that way. John Hussman has been preaching essentially the same message, and so has Jeremy Grantham. "Over Next Seven Years, Market Will have Negative Returns" I strongly encourage you to read an interview of Jeremy Grantham, by Stephen Gandel, senior editor of Fortune: The Fed is Killing the Recovery. The entire article is well worth a read. But here is one snip that caught my eye. Fortune: Are you putting your client's money into the market?It's well worth reading the entire interview. But I am biased. It supports my own view about market valuations and the Fed. Jeremy Grantham 1999 Grantham is one of few who saw things correctly in 1998 and 1999. While others were partying like no tomorrow, Grantham sat things out. In the process, he lost 60% of his asset base simply for not acting like a drunken fool, like nearly everyone else. Please consider this Forbes Interview of Jeremy Grantham, by Steve Forbes, from 2009. The section of most interest to me pertains to 1999 Steve Forbes: Well thank you, Jeremy, for joining us today. First, since you have bragging rights in this situation, what made you a bear, [a] great skeptic? Between 1999 until about a couple of months ago, you were saying, "Stay out."Grantham did not lose client's money. Rather, he lost accounts and assets. Clients who stayed with him did quite nicely. Unfortunately, it's a sad state of affairs that investors (speculators really), time and time again chase rising markets and managers with a current hot-hand rather than invest prudently. Then again, that's precisely what it takes to make a bubble. This bubble is in a rare class with 1929, 2000, and 2007. But I do not know when the party ends, nor does Grantham, nor anyone else. Actually, it matters not, at least in the long run. Stocks in general are poised for negative returns for seven years once again. If the party lasts a lot longer, seven might turn into eight or ten, but that will not change the ultimate outcome. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com 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 |
Damn Cool Pics
Damn Cool Pics |
Posted: 25 Mar 2014 12:03 PM PDT |
Posted: 25 Mar 2014 08:44 AM PDT |
Rihanna Wearing a See Through Skirt Posted: 24 Mar 2014 09:09 PM PDT |
You are subscribed to email updates from Damn Cool Pictures To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
Google Inc., 20 West Kinzie, Chicago IL USA 60610 |