miercuri, 15 februarie 2012

Be Careful Using AdWords for Keyword Research

Be Careful Using AdWords for Keyword Research


Be Careful Using AdWords for Keyword Research

Posted: 14 Feb 2012 12:49 PM PST

Posted by randfish

For the past decade, most of us in the field of search have relied on Google's AdWords data (either in the public tool, the API or the tools inside AdWords accounts). It's the best source we've got, but many marketers may not realize that sadly, the numbers and queries may not always match up to what's actually happening on Google's search engine. I'll illustrate with an example.

An SEOmoz blog post ranks in the top 2-3 results for many keywords around the phrase "blog traffic." Here's a screenshot of some of those rankings:

Google Search for "Improve Blog Traffic"

I went into our Google Analytics account and pulled the related keywords along with how much traffic they've sent in the past 30 days:

Moz Google Analytics Data

Then I went to Google's AdWords Tool and searched for "blog traffic" to compare the suggestions:

AdWords Search for "Blog Traffic"

Here I got confused, because many of the terms that we receive traffic for are NOT shown above in the list... Is Google hiding them? Do they not know about them?

To be sure, I typed them into Google's AdWords Tool manually, performing [exact match] searches only:

AdWords Tool Data

Holy cow... There they are. So, AdWords does have volume for these, and will display it, but only if you enter them exactly (or rather, "more exactly" - you can find them if you do sets of imprecise, but closer queries, too). I made the chart below to illustrate which terms were available from the broad reserach:

Comparison of Keywords Suggested vs. Those with Volume

As you can see, there's ~50% of the terms not shown in the suggestion list, which is fairly substantive and could lead to some serious missed targeting opportunities.

THE IMPORTANT LESSON: Running discovery-focused searches in AdWords may not show you all the valuable/high-volume keyword phrases connected to a word/phrase.

There are a few ways to address this challenge:

  1. If you have the budget, my top recommendation is to buy a few, very broad keywords in AdWords, send them to a relevant landing page on your site, but realize you probably will lose money on the campaign. The goal isn't conversions, but rather to learn by watching the keyword terms/phrases for which you get impressions. This is also great conversion-testing if you have the budget to invest, but even a week or two of data can be highly valuable for future keyword targeting.
  2. When searching in AdWords, start broad, and then enter narrower queries and note the new phrases that come up. Make sure to use exact match, and be diligent in testing variations. Google only lies through omission.
  3. The relative numbers of searches aren't perfect (as you can see above), but they are relatively decent. In fact, I'd say they've improved in what they show vs. the actuals you'll see compared to prior years. However, 
  4. Use your own analytics as a guide to find new terms/phrases you might be imperfectly targeting. And if you see keyword variations that have a unique or different intent, it might even pay to create a more targeted page for that query, and you often need less work to rank, since Google uses the "indented results" system to drop a second URL from the same domain directly underneath the first one on a given page.

Now I'd love to hear from you - what are your experiences around keyword research in AdWords? Are you seeing the same thing we are? You can share your thoughts in the comments and/or use the poll below (from a new service called Quipol that has some fun twists):

BTW - Given that 30%+ of our referrals from Google searches are keyword (not provided), I'd venture to guess that all of the numbers from our analytics are underreporting by about that same percent. Keep that in mind when comparing the data from AdWords vs. our analytics above.


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Google+: The Ultimate You-Sourced Search Engine

Posted: 13 Feb 2012 11:33 AM PST

Posted by Erica McGillivray

Google+ has crept into SERPs near you. From getting hyper-personalized results popping up everywhere to recommending people to follow or showing you results you've +1'd or posts you've made, Google+ isn't giving you the choice to ignore it. (Unless you use Bing, Yahoo!, or another search service entirely.) Sure, there are ways to depersonalize it; but who has the time for another click, unless you're really getting results you aren't happy with or being an SEO super-sleuth. From author spotlights or highlights from those you've circled, it seems the closer you are to a keyword and its SERPs, the more intense the personalization gets.

Check out my entire page of personalized results when I search for "SEOmoz":

SEOmoz SERP personalized for Erica McGillivray

As anyone knows who's tried to do a little bit of personalization to customers, personalization is hard. There are zillions of factors and complex algorithms to work through. But we also know when it comes to conversions, personalization is a huge win-sparkle.

But Google has the employee bandwidth and some of the best minds of several generations working on making personalization happen. Despite their numerous products, search is Google's crown jewel; 80% of searches are done there because they generally deliver better results than their competitors. (Sorry, Bing and Yahoo!, but "Google" is a verb.) In the long-run, personalized results are going to be easier for Google and provide more relevant results for users, which will keep users coming back for more.

Google+ Worker of a You-Sourced Search Engine

Have you signed up for a Google product? Congratulations, you are now a Google volunteer. No, you don't get any benefits except one: using Google's (mostly) free products. Instead, as you surf the web, your movements will make your own crowd-sourced engine. Or as a crowd of one, you-sourced.

When you search for "angel," are you looking for a brooding vampire, not ethereal creatures or charity networks? Don't worry, Google already knows because you're subscribed to the Tumblr Angel Does Stuff and you wrote a blog post about how much you love Lilah Morgan. Not to mention, you've visited Angel's IMDB page while rewatching it with your sweetie and playing "who's that actor?"

Maybe you're new to a field, say it's "SEO." Go ahead and circle Rand Fishkin, Danny Sullivan, or Aaron Wall, SEO influencers as suggested by Google, and bam: their recommendations guide your results.

SEO SERP recommending me to follow Danny Sullivan and SEOmoz

Note: Danny Sullivan, more circlers than Lady Gaga.

Got Authority? Yes, You Do.

A huge problem Google has right now is site authority and quality. Page rank and domain authority are attempts to inform rankings which sites have authority and quality content. But this doesn't always work. Spammers and black hats have had years of perfecting the dark force to beat Google.

Last year's Panda algorithm change was a direct assault on sites with duplicate and weak content that were squeezing into rankings. Panda didn't happen to cause SEOs to tear our hair out. No, it was a direct punch against snake oil SERP results and results that made all of us go "meh." You can argue that some sites didn't deserve the hit and got caught in the crossfire, but Panda tossed out a lot of junk. 

Now in combination with Panda's tweaks, Google+ creates the ultimate SERP authority: you. You are awesome, and no one knows what you want better than you. Google+ just isn't sending you SERPs based on your subtle hints and wish list anymore; now, it's going directly to you, the source. And if you don't know about it, perhaps your "circles" will.

I've told Google that I love Sherlock, the BBC series, and think way too much about it. Google serves me "Sherlock" SERPs completely filled with what I love. No mention of the books, other TV or film, or various businesses, services, or products using the Sherlock name. My personalized SERP kicks off 3 links that "normally" rank in the top 10. Including a pub chain in Texas, which I'm sure fought hard for that ranking.

Sherlock SERP personalized for Erica McGillivray

Additionally, by giving bloggers the incentive of authority and our tiny photos in SERPs, hooking in your Google+ profile to your blogging platform creates a type of article authority Google hasn't had before. There's a reason Rand has a ridiculous number of Google+ followers; if he put out crap, they'd uncircle him. Now Google knows that Rand's articles are quality content -- mostly likely around SEO, inbound marketing, and entrepreneurship -- Rand's content becomes an extremely strong "safe" ranking factor to serve results on. And he gets his smiling face as a recommended follow for "SEO."

If you haven't started building your authority with the articles you're writing, it's time to jump in. You too can become a safe SERP in your field, interest, or hobby. Are you an authority on something? Is your brand an authority? It's time to start creating content, curating content, and building up your following. If you're considered an authority, your rankings may jump higher than they've ever gone before.

SEOs: No Longer a Pain in Cutts' Butt

Google+ radically changes an SEO's game strategy towards rankings. Good luck getting another SERP into my results for "SEOmoz" the old-fashioned way. That said, the cries of "SEO's finally dead" still remain highly exaggerated. Sloppy SEO and some black hat tactics are certain staked in their tracks. Your keyword stuffed article isn't going to get my +1.

Now I don't expect Google+ to remain ungamed. There's a whole subset of the SEO industry who's made their way on gaming every change Google's made. But the amount of time and energy you'd have to put into gaming Google+ to convince me that you're not a bot...I think you got a little bleach on your hat there.

Ultimately, white hat tactics of quality, linkbait content will prevail in the world of Google+. Whether you're focusing on how-tos or selling jewelry, your content isn't going to get the love of the +1 if it doesn't appeal to the people.

Nowhere Near Perfect

Right now, Google's crowd-sourcing is nowhere near perfect. Not enough people are using Google+ on a regular basis to make a huge impact. Yes, Google says they have 90 million users (800 million on Facebook and 200 million on Twitter for comparison), but no one's sure just how many people are actually using it. 

I know my personal information stream seems a little bare with a few heavy-weight champions *cough*SEOs*cough* dominating my results. Not to mention, my own information comes up a lot. This is great when I share out a link, and I'm trying to find it again. This is not so great if I'm say looking for an image of Doctor Who as I still have those on my harddrive. Or if I'm searching for videos of adorable baby pandas (very likely) and Google serves me White Board Friday Videos posted on SEOmoz's Google+; no offense, SEOmoz teammates, but I'd much rather watch the bears with the giant heads.

Besides mass user adoption, the biggest hurdles left are of the philosophical nature: privacy and group-think.

Privacy, know our friend "not provided"? Know how Google Analytics went to court in Germany? Or how SOPA came about? When the non-web marketer sees their friends showing up in their SERPs, they're going to start freaking out. I have a feeling that zombies are on the way out and Skynet and killer robots are back as the villains reflected in our cultural subconscious. 

Subtle personalization has been happening for a long time. We like seeing ourselves reflected back in the mirror of advertising, and the best inbound marketing reflects what we need to see, not just what we want to see. 

"I'd rather make a show 100 people need to see than a show that 1,000 people want to see." -- Joss Whedon, producer/writer of Buffy: the Vampire Slayer and Firefly

I love the above quote from Whedon because this is what personalization does at it's best. It gives us what we need, not just want we want. And in giving us what we need, we're less likely to call shenanigans on Google's privacy policy. (Just look at Facebook, who may have even better access to personalization data than Google, and a platform that people get lost on for hours.)

By giving us what we need, Google will also give us diversity of opinions and our feeds can avoid group-think. If my results are completely personalized based on my searches and my circles, they are unlikely to carry thoughts that aren't similar to my own. Seeing only results from other liberal-minded, web marketers who are giant geeks isn't what I need, even if that's the feed I may want to live in.

Diversity of ideas

In order to be truly innovative and understand humanity on the whole, we need a variety of ideas. I need to know that people disagree with my opinions, whether political, personal, or otherwise. And our "circles" have an inherent selection bias in that we generally surround ourselves with people like ourselves. 

Not to mention, our circles aren't experts in everything. My coworker Jen Lopez found that her circles don't know anything about hotels in Madrid:

Search for Hotels in Madrid made useless by personalization

Google+ Personalization: Easy-as-Pie Win-Sparkle.

As Google+ builds and more people find value in adopting it as part of their social world, the SERPs will improve. And given that Google adjusts its search algorithm over 500 times in a year, I suspect there's already geniuses working on these problems. The more Google builds out Google+ for personalization and pushes its you-sourced engine, the better the results will get and the easier it will be for Google to serve each of us what we need.

As we head into a world of personalization, we SEOs are going to focus on the creation of content and distribution of content more than ever. We're investing in building our authority on subjects for our businesses and hobbies, and there's nothing better than getting in on the ground-floor.

Make Google+ personalization a win-sparkle for you and your customers. Embrace better content, build your own authority, and make the you-sourced search engine even cooler.


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Why Your Voice Matters

The White House

Your Daily Snapshot for
Wednesday, Feb. 15, 2012

 

Why Your Voice Matters   

Yesterday a number of Americans who answered the President's call to share stories about what an extra $40 in each paycheck means to them visited the White House to hear the President speak on this important issue.

Afterwards some of them spoke to us about their experience, and why they thought it was important for other Americans to speak out.

Find out what they had to say, and why your voice matters:

What does 40 dollars mean to you?

In Case You Missed It

Here are some of the top stories from the White House blog:

President Obama Pushes Congress to Extend the Payroll Tax Cut Through 2012
The President pledges to continue the fight until a bill extending tax relief for 160 million Americans is on his desk.

Americans Tell President Obama What $40 Means
Thousands of Americans responded to the President's request, sending photos, tweets, and emails that illustrate just how important decisions made in Washington are to regular people across the country.

2013 Energy Budget: What It Means for You
President Obama's 2013 Budget highlights his commitment to an all-of-the-above energy strategy that includes critical investments in innovation, in job-creating clean energy technologies, and in our national security.

Today's Schedule

All times are Eastern Standard Time (EST).

9:45 AM: The President and the Vice President receive the Presidential Daily Briefing

10:30 AM: The President departs the White House en route Joint Base Andrews

10:45 AM: The President departs Joint Base Andrews en route Milwaukee, Wisconsin

12:35 PM: The President arrives Milwaukee, Wisconsin

1:00 PM: The President tours Master Lock

1:40 PM: The President delivers remarks at Master Lock WhiteHouse.gov/live

3:05 PM: The President departs Milwaukee, Wisconsin en route Los Angeles, California

7:00 PM: The President arrives Los Angeles, California     

9:10 PM: The President delivers remarks at a campaign event

10:50 PM: The President delivers remarks at a campaign event

WhiteHouse.gov/live Indicates that the event will be live-streamed on WhiteHouse.gov/Live

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Valentine’s Day Marketing Strategy – Did Your Brand Get it Right?

Valentine’s Day Marketing Strategy – Did Your Brand Get it Right?

Link to SEOptimise » blog

Valentine’s Day Marketing Strategy – Did Your Brand Get it Right?

Posted: 14 Feb 2012 06:00 AM PST

St. Valentine's Day has become one of the biggest events in the retail calendar. Second only to Christmas, it is a huge money maker for brands, with 32% of gifts being bought online. In America, it is expected that a whopping $3.5billion will be spent on jewellery alone. Men are the biggest spenders, buying all sorts of gifts for their loved ones, from flowers, to chocolates, to dinners out and weekends away – and they are more likely than women to buy elaborate gifts. With such huge revenue opportunities, ask yourself… how well did your brand perform and what can be done to improve performance for next year?

1.       Planning

People start searching for Valentine's Day gifts around mid-January, with momentum picking up pace at the beginning of February. The biggest sales days are the 5th and 6th of February, with the week running up to the 14th February characterised by frenzied and frantic last-minute gift buying. This means brands have to get their thinking cap on and start planning well in advance. Think about what worked well the previous year and act on it. The earlier you start, the wider the audience you will reach.

February calendar with 14th highlighted with heart

2.       Segmentation

Not everyone on Valentine's Day will be expecting to receive a gift. Not every woman is going to appreciate a 'Perfect Earrings for the Lovely Lady in Your Life' branded email.  Segment your market by the gifts they may buy. A Facebook ad campaign is a particularly good way to go about this, as they have the ability to target your audience by their age, location, gender, relationship status, etc. Also, look at who bought from you last year and be sure to target them with a special message.

3.       Sending Out The Right Message

Once you've segmented your audience, it's time to create a customised message for their wants and needs. People are price sensitive and they're looking for a good deal and great service. An Email Marketing Campaign can be a great place to start. Make sure you have a punchy subject line, that you feature suitable products for the segment you're targeting and include other special deals you might have on. Use a range of social media platforms like Twitter, Facebook and YouTube to promote your offering and utilise your blog if you have one. Solve the problem for those who don't have a clue about gift buying for their lover and encourage them to strike while the iron's hot.

Be Mine

4.       Your Website

Now that you've made sure you're getting the message out to your contacts and social media followers, it's time to target anyone visiting your site. Make sure your homepage clearly promotes your Valentine's Day offering. Give the landing page a makeover with red, pink and beautiful hearts and be sure to include on every page of your website information about delivery and shopping cut-off dates.

5.       Get Creative

You don't need to be in the chocolate or flower industry to benefit from this holiday and reap the financial rewards. You will, however, have to be creative if you are not in the traditional industries associated with this romantic holiday.  Create a video. Use Valentine's Day inspired discount codes. Partner with a company that offers complimentary products to yours. Create a special Valentine's Day product. Run a Valentine's competition on your social media platforms. Use this holiday to drive traffic to your site and increase engagement.

© SEOptimise - Download our free business guide to blogging whitepaper and sign-up for the SEOptimise monthly newsletter. Valentine's Day Marketing Strategy – Did Your Brand Get it Right?

Related posts:

  1. Who Should Represent Your Brand on the Social Web?
  2. Google Freshness Update – what it means for your brand
  3. International SEO Strategy – Domains, Subdomains or Subfolders?

Seth's Blog : Time doesn't scale

Time doesn't scale

But bravery does.

The challenge of work-life balance is a relatively new one, and it is an artifact of a world where you get paid for showing up, paid for hours spent, paid for working.

In that world, it's clearly an advantage to have a team that spends more time than the competition. One way to get ahead as a freelancer or a factory worker of any kind (even a consultant at Deloitte) was simply to put in more hours. After all, that made you more productive, if we define productivity as output per dollar spent.

But people have discovered that after hour 24, there are no more hours left. Suddenly, you can't get ahead by outworking the other guy, because both of you are already working as hard as Newtonian physics will permit.

Just in time, the economy is now rewarding art and innovation and guts. It's rewarding brilliant ideas executed with singular direction by aligned teams on behalf of truly motivated customers. None of which is measured on the clock.

John Cage doesn't work more hours than you. Neither does Carole Greider. Work/life balance is a silly question, just as work/food balance or work/breathing balance is. It's not really up to you after a point. Instead of sneaking around the edges, it might pay to cut your hours in half but take the intellectual risks and do the emotional labor you're capable of.

 

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marți, 14 februarie 2012

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


EU to Punish Spain for Delaying Austerity Measures, Playing Games with Deficit Projections; Unprecedented Spanish Bond Front-Running; European Job Losses Accelerate

Posted: 14 Feb 2012 10:02 PM PST

The EU has accused Spain of overstating its 2011 budget deficit thus making it easier to make progress in 2012. Furthermore the EU is upset about delays in austerity measures ahead of regional elections next month.

According to Reuters, EU to punish Spain for deficits, inaction
The European Union is likely to take action against Spain's newly installed government by May for delaying austerity measures ahead of a regional election next month, sources familiar with the situation have told Reuters.

Three senior EU officials told Reuters that a final decision still has to be made, but the European Commission believes the new government overstated the deficit figures for 2011 so the current year's data would look better. Spain is also not addressing quickly enough the deterioration in public finances expected in 2012, risking the country's longer-term growth, the officials said.

Asked if the European commissioner for economic and monetary affairs, Olli Rehn, would take action and recommend that the bloc's 27 finance ministers adopt sanctions against Madrid, one of the officials said: "It is very likely."

"It is not that we want to. But if there is a deviation, and it is almost inevitable, then we will have to," added the official, who spoke on condition of anonymity.

With the economy heading for recession, Spain's deficit commitments of 6 percent for 2011 and 4.4 percent for 2012 -- based on a 2.3 percent growth in 2012 -- look unattainable.
Fantasyland Growth Projections

2.3% growth in Spain in 2012 is pure Fantasyland material. A 2.3% contraction is more like it.

Regardless, any contraction means Spain will miss its targets and in turn Germany will demand more spending cutbacks.

With unemployment at 22.9%, how long will it be before we see Greek-style pushbacks?

Unprecedented Spanish Bond Front-Running

Please consider Spain risks choking market with bond supply glut
Madrid is running far ahead of the euro zone pack in terms of 2012 sovereign debt issuance, smashing its funding targets by cashing in on strong demand from domestic banks flush with money borrowed from the European Central Bank.

To date, Spain has raised 29 percent of the 86 billion euros it needs in 2012 compared with 18 percent of planned bonds sales by this time last year. In contrast, Italy has raised 10 percent and Germany 11.5 percent.

"They see an open window and are trying to secure as much liquidity as they can... Everyone was expecting some front-loading but this is unprecedented," said Michael Leister, strategist at DZ Bank in Frankfurt.

"The glut of liquidity put in by the ECB is trumping fundamentals...which is why we believe that Spain and Italy are getting away these auctions at the levels they are. We believe it isn't sustainable and the effects of the LTROs (ECB long-term refinancing operations) will begin to wane," said Rabobank strategist Lyn Graham-Taylor.

The decision by rating agency Moody's to cut Spain's credit rating underscores the country's fundamental problems, which cannot be overcome by the provision of cheap cash to banks.
Spanish Farmers Protest Morocco Trade Deal
With unemployment at nearly 23%, one can expect protests over trade agreements. Consider this a start: Spanish farmers protest over EU-Morocco trade deal

Spanish farmers pelted the European Parliament and Commission office in Madrid with tomatoes on Tuesday in protest against a trade agreement with Morocco that they say could put fruit and vegetable growers out of work and add to high unemployment.

The reciprocal agreement lowers trade barriers on the entry of primary goods - mainly fruit and vegetables - into the European Union from Morocco in return for allowing processed goods into the North African country.

Farmers from the COAG union plan to turn up with 500 tonnes of oranges to another protest on Wednesday and further action is set for Thursday, when the European Parliament is due to vote on prolonging the agreement.
Europe Job Losses Accelerate

Bloomberg reports Europe Job Losses Accelerate
Global companies from NEC Corp. (6701) to PepsiCo Inc. (PEP) and AstraZeneca Plc (AZN) are chopping jobs more than three times faster than in 2011 as they brace for recession in Europe and a slowdown in China.

Announced workforce reductions surged to 94,369 through Feb. 10 from 26,561 a year earlier, according to data compiled by Bloomberg. Employers based in Western Europe accounted for the biggest group of job-cut disclosures, threatening to add to unemployment in the euro area already running at a 13-year high.

Such firings are now running at the quickest pace to start a year since a 2009 peak, when the European and U.S. economies shrank amid the deepest slump since World War II. Now, Europe's debt crises may help spur a 0.5 percent contraction in the euro- area economy in 2012, based on economists' estimates.
Signs point to a deep and lengthy recession, not the shallow recession forecast by economists. I seriously wonder what the heck they are looking at.

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


Ceridian Fuel Index Down 1.7% from December, Down 2.2% from Year Ago; Delay in Trucking Activity or Global Trade Slowdown?

Posted: 14 Feb 2012 02:09 PM PST

In a video, Ed Leamer, Chief PCI® economist hypothesizes "delay in trucking activity".
Chief PCI® economist, Ed Leamer, explains the disappointing month-over-month and year-over-year numbers for the January PCI in the face of other indicators that suggest that the economy is turning around. In this month's report, Ed explores several hypotheses for the disconnect and concludes that trucking activity is delayed, expecting to see a surge in the coming months.
Ceridian Index vs. Industrial Production



Ceridian Index vs. GDP



Ceridian Index vs. Retail Sales, Inventory, Industrial Production



Year-Over-Year Diesel Sales 


For more charts and commentary please see Ceridian-UCLA Pulse of Commerce Index®

Global Trade Slowdown

I do not buy the economy is turning around and the falloff in diesel demand represents "trucking delayed" any more than I believe the overall plunge in petroleum is "driving delayed".

Instead I propose something far more serious has started - a global trade slowdown. For details, please see Petroleum 3-Month Rolling Average Turns Sharply Lower; Negative Shipping Rates; Collapse in Global Trade

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


Time For Some Honesty: No One Gives a Rat's Ass About Greece

Posted: 14 Feb 2012 12:41 PM PST

It's high time for some honesty. No one cares about Greece, except Greeks. Greece is a mere 2% of Eurozone GDP..

All this fantasyland talk of Armageggon if Greece exits the euro is total nonsense. The world will not end when Greece defaults. Indeed, the world might breathe a sigh of relief.

So Why the Fear-Mongering?

That answer is easy. Bureaucrats have said for too long and in too many ways that "no one can leave the euro".

This is not about what is best for Greece. Is is about "face saving" of bureaucrats whose collective faces deserve to be dipped something far more smelly than mud.

Rather than let Greece default gracefully, all the nanny-zone fools cling to false hopes, while Merkel blatantly lies about wanting to keep Greece in the nanny-zone.

It was in the best interest of Greece to not let them in the Eurozone in the first place. Then it was in the best interest of them to default 2 years ago, 1 year ago, and 6 months ago.

Instead, because Merkel does not want to take the blame for kicking Greece out of the Eurozone, we see all the extra impossible-to-meet demands that have Greek technocrats jumping through hoops backwards to meet.

It is a travesty of justice what the technocrats, the nanny-zone supporters, and the politicians have done to Greece.

Anyone with any common sense knew Greece would default. Furthermore, if you are going to default anyway, then the earlier the default the better. In the name of stubborn face-saving Greece was destroyed.

Portugal and Spain better pay attention because they are on deck for the same treatment. As soon as Germans have to pay up, patience with those countries will wear thin as well.

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