Central Perk

vineri, 27 ianuarie 2012

What do you want to ask me?

Good afternoon,

Today, I was in Michigan. Yesterday, it was Colorado and Nevada. Before that, it was Iowa and Arizona. The day after I delivered my State of the Union Address to Congress, I took off to connect with ordinary Americans around the country, talk more about our Blueprint for an America Built to Last, and get some feedback.

That's why I'm writing you.

On Monday we're going to do something a little different. At 5:30 p.m. ET, I'll walk into the Roosevelt Room across the hall from the Oval Office, take a seat, and kick-off the first-ever completely virtual town hall from the White House.

All week, people have been voting on questions and submitting their own, and a few of them will join me for a live chat.

What do you want to ask me?

This is going to be an exciting way to talk about the steps that we need to take together at this make-or-break moment for the middle class.

We have to foster a new era for American manufacturing -- rewarding companies for keeping jobs here at home and eliminating tax breaks for those who ship jobs overseas. We have to invest in homegrown energy in the United States -- starting with an all-out, all-of-the-above energy strategy that's cleaner, cheaper, and full of new jobs. We have to build an economy that works for everyone -- where every hard working American gets a fair shot, everyone does their fair share, and the rules are the same from top to bottom.

I'm ready to get started, but I know you have questions and ideas for ways to help. So let's hear them:

http://www.whitehouse.gov/sotu-questions

Thanks,

President Barack Obama

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How to Increase the Odds of Your Content Going Viral - Whiteboard Friday

Posted: 26 Jan 2012 12:59 PM PST

Posted by randfish

Having content that goes viral can seem like the luck of the draw, but there are a number of steps you can take to improve your odds. In this week's Whiteboard Friday, we will show you a few things you can do to increase your chances of having that well crafted content spread through the internet like a wildfire. Thanks for watching and don't forget to leave your comments below.

Video Transcription

Howdy SEOmoz fans. Welcome to another edition of Whiteboard Friday. This week we're talking about how to give your content a better chance of going viral, and from virality, what I really mean here is not just getting links, which are obviously very helpful from an SEO perspective, but getting social shares, getting mentions on other blogs, getting talked about, getting emailed around. The virality of content determines how successful that content is going to be in the broader Web, in the scheme of all things that are inbound, not just SEO, not just social, not just community stuff, but overall. There are a few things that you can do that will significantly help your efforts to earn that content virality. So let's talk about a few of them.

Number one, the right format or the right UI or UX, user experience. What I'm talking about here is a lot of people think that they can take the same way that they produce content normally, keep on doing that, and sometimes that works, especially if you have a very, very clean site, maybe it's in a blog format and it's got nice width. It's not too hampered by advertising and surrounded by that kind of stuff. But oftentimes you will see that content can perform better when it's in a separate type of format. So let's say you've got a traditional page layout that has content section here but a big header up here and a top ad and a bottom ad and a bunch of sidebar stuff. And maybe you think, "You know what? I'm actually going to clean that up to something that has branding but minimal branding, got a great headline, got the content right in there, and that's the focus of the page." So the users who come to it can easily, above the fold, find the content that they're looking for, that there's compelling visuals.

These visuals are particularly important because both Google+ and Facebook, if you do any sharing on either of those platforms, remember that they'll automatically insert an image from the post, and oftentimes the user can select which image. If you've got a couple compelling images that look great when scaled down, that look great when you're going to share them on Facebook or on Google+ or that somebody else who is going to copy those images and put them on their site, oh man, much, much more successful.

Even if you have literally just a piece of writing, if you can have some sort of a visual element that is compelling, that's interesting, that draws in the reader, that's relevant, you're going to do much, much better. Flickr Creative Commons is great for this. Drawing your own stuff is great for this. Charts and graphs are great for this. Even licensing out someone to do a tiny amount of work for a few hundred dollars around building a visual for you, taking some of the data or some of the insight that you've learned that you're putting into that content can be really helpful to help it go more viral.

Then doing things like, you know, you've got to have the design look and feel professional. It has to be modern and updated. Clean is very, very good for getting that sharing principle. You can see this happen all the time with content that's shared on major media websites, where it's the print friendly version that gets emailed around, that makes its way around Twitter and around Google+ and Facebook and goes on LinkedIn. It's almost always the one that people will link to in a Reddit or a Hacker News or on Stumble Upon. Print friendly versions, just make that the default for content that you want to have virality.

Then finally I'd also be looking at the title friendliness itself, and the URL actually matters a lot now too. So if you've got a pre-existing CMS, when you go to bit.ly or you to goo.gl or whatever your URL shortener is, you might want to try something like this, getting the customized one. So for example, you'll see that when I have content that I like to share a lot, I might say for example, "Oh, let's make this content say inbound startups, and that'll be my slide share presentation." So now you don't have to remember some long URL. It's just bit.ly/inboundstartups, and that will take you right to my presentation here, that URL functions. Customizing this portion of the shared URL can be very helpful if you can't control it. If you can though, go with something easy, simple, short, not too many parameters in there. This will also help you. I might even, for some things, recommend dropping the slash articles or the slash blog and going just with /catchy-subject, whatever that subject line is. You 're going to shrink down the title so that it's easily understandable so if somebody ever sees that URL or hovers on it, they think, "Oh, that sounds interesting. I should click that link. That might be cool."

Number two, great, fantastic way to make sure that your content is going to at least perform decently on the Web is to get buy-in from your influencers, the influencers in a community, before, not after, not during, but before you ever publish it. So I'll give you a great example. I got an email last Friday from a guy in the search world and he said, "Hey Rand, my company, we produce this big report. We've got this cool infographic, lots of interesting data about stuff that's happening in the world. Would you take a look at this? Tell me what you think. Do you think your community would like it?" And I wrote back and said, "Yeah, I really love this. I think it's excellent. I don't even have any changes. I think this is going to do great, and I'd be happy to share it." This person didn't specifically ask me for a share and I think that's why. What they asked me for was feedback.

That feedback, coming from people who have a powerful forum, 6,000 RSS readers, 500 people following them on Google+, you can find these people. You probably already know about them in your niche or your sphere, who they are, the key bloggers, the key Twitter accounts, the key Google+ accounts, the key people on LinkedIn, the people who run popular websites, the influencers. Then you can essentially draw them back to whatever it is that's your content in here, and they will be much more likely to share if you ping them about it beforehand. They'll also give you feedback like, "I don't really think this is going to play well," or "If you did this, it'd be very interesting, but I don't see what you've done as particularly unique or valuable. I probably wouldn't share it." Or no response at all. If you get lots of those, you know that you're not hitting it out of the park with this content. You're going to have to do something else, try something else. That's great to know before you hit that publish button.

There's a bunch of things you can get from them. So if you're thinking, boy, I just can't get these people to share what I'm producing. I don't know what I can do, get them involved in the actual content itself. So rather than you writing an opinion blog post saying I like this particular thing and that particular thing, you can instead go and gather. Hey, can I solicit your review and opinion on a subject, and then I'm going to gather that from several experts and publish that. I'm going to run a survey of you and 20 other people who are influencers in the field about particular things, about some data from your sites, your projects, your experiences, your businesses, whatever it is, or your opinions on this matter. I'm going to interview you or do some lessons learned stuff. I shared a great link last week that was a bunch of video interviews of entrepreneurs, and this type of stuff performs tremendously well because all of those people who are involved in the project, from an interviewee perspective, they are all going to share it after it's produced because you write back to them and you say, "Hey, the interview is now live. The data is now live. The review is now live."

You can request input from their communities. For example, when SEOmoz does the SEO Industry Survey every two years, we always ask, hey, would you share this with your community so that we can get the input of people who read Search Engine Land or Search Engine Watch or SEO Book or Search Engine Journal, a variety of these places. HubSpot, etc.

If you can't directly reach out, you can always mention these people. So if you, for example, gather things that they've tweeted, said on their own blogs, you're getting quotes from them, you're getting data they've shared, you're using numbers from them, anything like that, you can say, "Oh, by the way, we mentioned you or we're going to be mentioning you in an upcoming piece, would you like to take a look at it and review and let us know if it's appropriate or okay, if this is accurate?" That process of interacting in an authentic way, both to confirm that you do have accurate data and that you're doing the right thing with them, gives them a buy-in to, "Oh, I'm going to go check out this article. Huh, this is interesting. Yeah, this looks great, thanks very much." Or, "Oh I have this little bit of feedback for you." Then when you publish, you can say, "Hey, we hit publish. It's now live. Thanks again for reviewing. If you would share with your community, that'd be great. Here's the shortened link or here's a tweet you could retweet." This kind of stuff works phenomenally well. This process of getting that early buy-in ahead of time is so powerful, and it just makes sure that the content does much better than it normally would.

The third and final thing that I'm going to mention here - topic, timing, and seeding. So this is essentially the process of figuring out what works best in your community, and that's from a topical perspective. Copyblogger has a lot of good posts about how to write a compelling headline and what's going to be popular right now. But I would think about it this way. If it's being mentioned in the news, so for example if I go to, let's say this is Google Insights or Google Trends or the news timeline, and I see mentions it is at the steady state point but has a spike here, this is where I want to be writing about that topic. Or maybe right after, when there's usually that second bump of people having a discussion about it. If you can, you might even want to catch it here, before it goes hot, and then you'll have a chance to appear in things like Google News and you'll have a chance to be mentioned in all the articles that talk about that subject thereafter. This is great for anytime you have a timely or trending type of topic.

You also want to, in addition to all these influencers you talk to, there are likely a few people, these are your buddies, your friends, people you connect with on a regular basis, you're emailing with them, you follow each other on Twitter. Do them a favor. Start sharing some of their content. When they tweet things, retweet them. Build up those relationships. Almost all of you probably have a few of those already. Leverage those. Email them in person and say, "Kenny, I know you've got a small Twitter account. It'd be awesome if you could share this. If you ever need the same favor from me, just ask." Almost always, especially if those are close relationships, personal relationships, you've hung out in a bar before, you've bought each other dinner, you know each other well, you're going to get that. I think that's a great way to leverage the real world social network for online social networks. Obviously, you have to be careful not to abuse this. You want to be sharing stuff that these people would ordinarily want to share and be interested in.

Then finally timing stuff. I can tell you for B2B content, Saturday and Sunday are just straight out. However, the reverse is true for Facebook, where the most sharing and the most time spent on Facebook happens on the weekends. Now, not surprisingly, that's not B2B Facebooking. That's personal Facebooking. So it better be the kind of stuff that's going to play well with your mom and your grandma and your brother and that kind of stuff. B2B, Tuesday through Thursday. Don't do Monday. Don't do Friday. With the exception of, it appears that some of the best content or most successful tweeting happens on Friday morning, sort of Thursday night going into Friday morning. That's when people seem to be tweeting and retweeting a lot of stuff. This is from some research from Dan Zarrella over at HubSpot. You can look into that. The timing of social media, I believe, is his presentation.

So don't necessarily take my word for it. Test, test, test. If you're sharing content and producing content on a regular basis, you will figure out the right times to share, who you can start seeding things with, who's reliable and helps you get that content out there, what topics work well, what sorts of headlines work well for your audience. It's going to be different for everyone. So don't just trust these. But do test and observe and watch your click through rates, using something like a bit.ly, watching your analytics, seeing what works when you share things and how long it takes for them to go and what sources indicate. Sometimes you're going to share with this one guy and he's going to populate it to tons of places. One of my favorite features for this is Google+'s ripples, where you can actually see, it's almost like this. It'll actually show you a timeline of this person shared and then these 13 other people shared and 1 of them produced 10 more shares. That stuff is very powerful, and you can observe it on the regular Web, on the rest of the Web, across platforms if you're carefully watching analytics or your bit.ly click throughs.

So hopefully, using this methodology, you can produce some content that has higher chances, better odds of going viral. I wish you luck. I hope to see lots of great stuff out there on the Web. Take care. We'll see you again next week for another edition of Whiteboard Friday.

Video transcription by Speechpad.com

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Are You Wasting Budget With Online Press Release Distribution?

Posted: 26 Jan 2012 02:04 AM PST

Posted by Tim Grice

This post was originally in YouMoz, and was promoted to the main blog because it provides great value and interest to our community. The author's views are entirely his or her own and may not reflect the views of SEOmoz, Inc.

The title of this post may come across a little contentious, however I hope by the end of it you understand where I am coming from.

Over the years, I have been privileged enough to work with some large businesses that can afford to throw big budgets at online marketing. One of the first tasks I undertake is a meeting to discuss previous strategies. As my main focus is natural search, one of the things I always find interesting is discussing link building strategies carried out by previous agencies and internal SEOs. This can be quite enlightening, but really worrying at the same time, you begin to realise fairly quickly why SEO gets such bad press.

One of the things that always makes my head spin is companies who invest in pumping out online press releases through well-known services for the sheer purpose of building links!

"So, what's your link building strategy?", "Well, we send out press releases every week and get thousands of links!” fantastic. You realise at this point the road ahead is a long one.

This is my opinion and you can disagree with me in the comments, sending out press releases through services such as PRnewswire or Marketwire is not a link building strategy, in fact paying for these services alone is nothing but a waste of time and money.

So, I did a little research as I wanted to confirm my long held belief, asking 20 different SEOs to give a rough figure as to how much each of their clients spend on Online press release distribution. I have to say even I was shocked by the figures (a quick thank you to all those who responded, cheers guys).

Press Release Spend

As you can see 40% of clients were spending £2000 - £3000 a month on press release distribution alone, even at the most expensive rates that’s 6 - 10 per month. Do you really have that much to talk about? On top of that, 2.5% were spending over £5000 per month on press release distribution, that figure is staggering!

I work with some very big brands and they would struggle to fulfill that quota. When I asked why this amount was being spent each month, the same answers came back, "The MD/CEO/Marketing Director believes it to be a solid link building strategy". I know this isn't large enough to be a meaningful sample, but it gives you a slight insight into the minds of some fairly big organisations.

Why is it a Terrible Strategy

I'm sure you're all aware that a good link building strategy should:

Follow natural linking patterns
Be aimed at acquiring links from unique domains
Incorporate social signals

So let's go through this step by step:

Is it natural?

You're sending the same content out to multiple hubs, with the same links in the same anchor text which automatically updates within seconds. Natural? Nah, at least not on its own.

Links from unique domains?

Sure, the first time you send a press release out all your links will be from unique domains. Maybe if you use multiple distribution services you will get plenty of links from unique domains. However if you use these services month after month, all you're doing is acquiring low quality links from the same domains over and over again.

Incorporating social signals?

Erm... nope. The only way this could develop social signals is if someone actually read these releases and referred back to your site through twitter or Facebook etc...

So alone press releases are not a good link building strategy. To emphasise the point a little more I monitored a recent press release that I distributed:

press release results

Out of just over 300 hubs precisely 299 were in my report from the distribution service. A month later I checked OSE where I found 36 unique linking domains, out of these only 11 were indexed in Google and my Google alerts account only picked up on four of them. Personally I think this is some indication as to how Google value these types of links.

It's not All Doom and Gloom

I guess I better get a little more positive before I start receiving nasty emails from some of these distribution services and press release fan boys :). I honestly believe that press releases can be used to benefit rankings!

I am sure some of you won't agree, but I am a firm believer in creating 'noise' links, but we'll go into that in a little while. Press releases can be used effectively as part of an integrated link building strategy.

pres release link strategy

Now I know there are other elements but I just want to cover a few of the basics:

1) Creating the Bait

So many people think link bait has to be absolutely amazing, never before seen, wonderfully awesome content. Slight exaggeration but let’s continue... Link bait in my opinion has more to do with the site publishing the content than the actual content itself. Sometimes really average content can garner tons of links simply because the site publishing it has some authority. I have seen terrible content flying around Twitter or Facebook for the simple reason that it was published on the Telegraph or New York Times etc...

So as budding SEOs, the first step to creating link bait isn't thinking up the idea, instead it is making relationships and reaching out to the right people. Getting great content on the right publication just about guarantees some decent links, of course the article published will have to refer/link back to the site you are targeting.

2) Creating noise links

What's the first thing that happens when you get an article published on a well read and well respected publication? It gets scraped hundreds of times.

A very quick example:

I had a link from the White Board Friday on 'Links in Old Content' (Thanks Cyrus). My site went on that same day to receive over 50 pingbacks! Up to date it is over 100! Thanks SEOmoz :)

In my opinion all these type of links (scraped links) help to raise the link profile and authority of my site. So what is the harm in giving them a push once in a while?

Google knows these popular websites get scraped and creating more of them if you have a link from a strong site, is not going to harm you and in my opinion it helps.

So provide some unique commentary of your own on the article and publish to your favourite newswire, article directories and content hubs. My personal advice would be to use plenty of variation with your anchor text as not to upset any of the algorithms.

3) Guest posting

Yes it's old news, but a really important aspect of link strategy; you should be constantly building a list of blogs you can write for whenever you want to push a new peice of content/link bait. Be proactive in reaching out to relevant bloggers. Feed them genuine content, not just a rewritten article you copied from ezinearticles. You want to make sure that when your story goes live on Fox News you have plenty of friends who will cover it and link back to your site as well as the publication. Guaranteed link bait :)

4) Social signals

Last but certainly not least is creating the right social signals and utilise all your resources.

As well as regularly reaching out to bloggers you should also be reaching out on Twitter and Facebook. When the time comes your new friends will be more than happy to tweet, stumble and share your ultra link worthy content.

You will also notice that content on highly authoritative resources is almost always more likely to get shared, and more sharing = more links.

So back to press releases...

Using them as a one dimensional strategy = waste of time, money and energy.

Incorporating them into an overall link building strategy, utilising them only when the content is worth sharing = winning formula.

Heading a team that builds thousands of links every month through viral and social promotions gives me some tremendous insights and I have seen the above strategy work time and time again in boosting rankings and overall organic traffic to a website.

One caveat I'll add - If you're the super industry authority and have a large readership, keep your best content for yourself.

There are lots of tools, tips and techniques out there that will help enhance a link building campaign. However we need to figure out how they fit into our overall strategy and not just throw budget mindlessly at well sold services.

West Wing Week: "The Special State of the Union Edition of 2012"

Your Daily Snapshot for
Friday, January 27, 2012

West Wing Week: Inside the 2012 State of the Union

This week, the President prepared for and delivered his State of the Union Address, welcomed the Boston Bruins to the White House, and took his message West to Iowa, Arizona, Nevada, and Colorado.

Go behind the scenes of the President's week.

Seth's Blog : Reconsidering Gartner's Cycle of Hype

Reconsidering Gartner's Cycle of Hype

One theory of technology marketing and acceptance goes like this: A technology causes a media hypestorm and rising expectations. Then it crashes to Earth as the popular press and the public discovers that it's not all the hypesters said it would be--through no fault of the technologists who brought it to the world in the first place. Then, gradually, the truth about the technology seeps out until finally it reaches its use case--and then becomes that status quo, just waiting to be disrupted as it previously disrupted what came before.

While the violent vicissitudes of this chart make for good TV movies, in reality very few innovations follow this path. That's because it ignores 'being ignored.'

90% of the time, new technology triggers are widely and aggressively ignored. While we're more eager than ever for a savior that will change everything, the number of technologies, pundits, prophets and entrepreneurs is so large that there's now a line out the door. As a result, most of the things we now take for granted (cell phones, tweeting, insulated windows, email) didn't follow this curve at all.

In fact, just about every innovation I know of has to make it through the wilderness before it gets anywhere close to a hype cycle. The wilderness is the term for the years (or decades) that a founder/entrepreneur/artist/technology must spend being ignored and unfunded before the breakthrough of overnight success occurs.

• Email to a friend •

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Mish's Global Economic Trend Analysis

Cameron Rebukes Euro Leaders at Davos, Calls Financial Transaction Tax "Quite Simply Madness" ; Mathematical Impossibilities
Steen Jakobsen on Maximum Intervention "Now is the Time You Need Metals – Particularly Gold and Gold Stocks"; Fool in the Shower
Chart of the Day: Central Bank Balance Sheet as Percent of GDP: Fed, ECB, BOJ, BOE

Cameron Rebukes Euro Leaders at Davos, Calls Financial Transaction Tax "Quite Simply Madness" ; Mathematical Impossibilities

Posted: 26 Jan 2012 12:47 PM PST

Bickering in Davos at the World Economic Forum has taken center stage as U.K. Prime Minister Cameron rebukes euro leaders over crisis

David Cameron has delivered a firm rebuke to Germany at the World Economic Forum, calling on Berlin to contribute significantly more resources and guarantees to help solve the eurozone crisis.

The British prime minister stressed on Thursday that although progress had been made, particularly with the European Central Bank's funding of the European banking system, policymakers were still far from finding a solution to the underlying problems of the crisis. He criticised eurozone leaders for being distracted by other issues, such as the introduction of a financial transaction tax – an initiative he described as "quite simply madness".

His speech in Davos reflected British officials' long-standing and deep frustration with Germany's leadership of the single currency area and called for a much stronger firewall to prevent contagion within the eurozone, common European sovereign debt and for powerful countries committing to reduce their trade surpluses as much as the struggling countries seek to minimise their deficits.

The sentiments chimed with many British and US delegates at the WEF who have criticised Germany for seeking to persuade other countries to "become more German" without the corollary that Germany must "become less German" by importing more and allowing its trade surpluses to shrink.

Tobin Tax

Cameron is correct regarding the financial transaction tax, commonly known as a "Tobin Tax" named after Nobel Laureate economist James Tobin who originally proposed the idea for currency transactions only. Now they want to tax everything.

Mathematical Impossibilities

The sentiment expressed by Germany that other nations need to become "more like Germany" as in "export more" sounds good when you hear it, but it is a mathematical impossibility.

Not every nation can be an exporter. If one country has a balance-of-trade trade surplus, another country must have a trade deficit.

Thus, the only way for other countries to become more like Germany is for Germany to become less like Germany.

The same holds true for the trade relationship between the US and China.

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

Steen Jakobsen on Maximum Intervention "Now is the Time You Need Metals – Particularly Gold and Gold Stocks"; Fool in the Shower

Posted: 26 Jan 2012 08:36 AM PST

Steen Jakobsen, chief economist for Saxo Bank in Denmark has some interesting thoughts to share on gold an metals in an email update that just came in.

Steen writes ...

Interesting session with Fed yesterday! Both the ECB and the FED have now clearly showed that the changed board of directors is far more willing to print money and keep rates low forever than ever before in central banking history – which is probably not a good thing or is it?

It's a wait and see game now – the FOMC action left plenty on the table for both the bulls and the bears. For the bulls this is 'easy money' for longer and low rates will have to work.

For the bears it's sign of incoming depression when Fed feels obliged to signal low rates for longer.

The truth is probably somewhere in between. There is reason for low rates, but also printing money to the extend the major central bank does it makes all of us speculators chasing, again, investments which we would not normally engage in as commodities, metals, housing et al. We are effectively all being forced to take more risk for same return with low interest now predicted into the financial "forever".

Sometimes the best analysis on an issue, and in my case almost always, comes from someone else – with reference to the FOMC I personally really enjoyed Caroline Baum's piece: 'Fool in the shower' to Give Fed a Good Scalding

Not only a gifted journalist and writer but excellent arguments and stories. Please do read her take on Fed's difficult balance.

Today's market open carry plenty of positive momentum, however Greek PSI and Portugal could ruin the party short-term.

Medium-term all things positive seems to have been priced in:

More QE in both US, UK and Europe including low rates and basically banks funded through 2012

A forced voluntary deal in Greece – the real test is the next payment three month down the road

A fiscal compact by next Monday where Germany will declare victory and then allow EFSF/ESM to be merged

Iran on the back-burner at least for now.

We now see market slightly expensive relative to historic numbers in our bottom up models, but not enough to create warning signal, however our cyclical/technical model are turning down s from here. Plenty of talk of Demark highs, cyclical tops in place, fresh money now being invested and very high survey data combined with bull/bear ratio and VIX volatility all indicating "full speed ahead", so the momentum is positive and the mean-reverting models are very negative. May the best 'model' win! I am still 70 per cent in cash for the rest.

My good colleague Peter Garnry kindly provided me with this chart(which is now part of Stress Indicators) on key central bank' balance sheet in percentage of their countries GDP. Simple stuff, scary stuff:

Note how Europe or rather ECB in the space of six month have done more expansion than the FED has done in three years in terms of printing money(relative to GDP) – again – buy some paper producers! The world could run out of paper to print those debasing currencies on pretty soon!

Now is the time where you need your metals – particularly gold and gold stocks. The above issues shows you clearly and forcefully that we have moved from a 'Maximum Intervention' period into a 'Maximum printing' phase – this will give the policy makers a false sense of "improvement" and hope for a turning point not dissimilar to the comments seen exactly one year ago in Davos –

This new hope will stop the move towards the "Endung" – as the ultimate solution remains the same: Germany needs to decide for or against Europe – end of story – they will cave in last day, last minute but only if forced to do so, this more of same pretend-and-extend will delay this from Q1 to Q2 or Q3 meanwhile the balances or rather imbalances inside the system will increase making the ultimate price(loss) yet higher – but why bother with something which is more than one week away? As someone commented today by this time next year most of today's politicians could be out of office anyway: China, France, Italy, Greece etc…

The story is always the same: Politicians spend money – the private economy tries to keep up. Meanwhile the challenge for us skeptics is best defined by Keynes old comment: 'The market can stay irrational longer than I can stay solvent' – and that is the bet Princess Merko-cy is playing when she kissed the frog and got an Italian prince with a huge balance sheet in Frankfurt. A true fairytale it is!

Safe travels,

Steen

As pertains to metals and Baum I agree. Here is my favorite line from "Fool in the Shower".

Two policy makers -- no names were attached to the forecasts -- expect the funds rate to first begin rising in 2016. (My money is on New York Fed President Bill Dudley and Governor Janet Yellen.) That would mean eight years of 0 percent interest rates. There will be a revolution in this country before then if the economy is lousy enough to warrant 0 percent interest rates for that long. Even the fool in the shower knows that.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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Chart of the Day: Central Bank Balance Sheet as Percent of GDP: Fed, ECB, BOJ, BOE

Posted: 26 Jan 2012 08:20 AM PST

Here is an interesting chart by Peter Garnry, an Equity Strategist at Saxo Bank in Denmark.

The race is on to see which central bank can load up its balance sheet with the most garbage the fastest.

Reader Scott says ...

Lemme see here, the EFSF was, once upon a time, going to lever itself up by taking the first 20% of losses on PIIGS sovereign bonds. This would give it the 'firepower' to quell the crisis in the Eurozone. How laughable that now seems. Such an arrangement would not even protect the ECB's 'investment' . Instead we hear rumors of schemes to foist the ECB's holdings off onto the EFSF with the ECB's 30% haircut already attached. So now, if I get this right, the EFSF is now the bailout mechanism for the ECB's SMP and that the PSI must now be broadened to become the PPSI or Public Private Sector Involvement and ESM is to be readied by this summer to take the place of the EFSF . And all of this just to deal with Greece. Given the failed bailouts, collapsed arrangement, lies, violations of EU law, summits, press conferences can Merkel, Sarkozy, Barroso and Rehn cobble together only to have fall apart before everyone realizes the jig is up? That they have no solution because there is no solution. The system is bankrupt.

The system is indeed morally and mathematically bankrupt. Some points above may not be perfectly accurate in entirety but the idea conveyed is certainly accurate. The key question is "when does everyone realize the jig is up?"

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

vineri, 27 ianuarie 2012

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How to Increase the Odds of Your Content Going Viral - Whiteboard Friday

How to Increase the Odds of Your Content Going Viral - Whiteboard Friday

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