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Intelligence is the combination of knowing a lot about a little while you also know a little about a lot.
Deep domain understanding helps you create analyses. Your ability to understand how a particular system (no matter how small) works allows you apply a confident analysis to new systems you encounter. Once you know everything there is to know about nuclear physics, soccer or the praying mantis, it makes it easier to understand new systems.
At the same time, it's impossible to be smart without also being aware of the wider world. That's because it's the random interactions and the surprising coincidences that help us navigate our daily lives.
The challenge of the net is that it made the large world a whole lot larger. There are the personal lives of your 1000 closest friends, on display, every day. Here is the news of the world, the whole world, not just what used to fit in the newspaper. And over there is every book ever published, every scientific discovery, every fringe political candidate.
Suddenly, it's a lot more difficult to know a little about a lot. It's tempting to spend ever more time pursuing that goal. That doesn't mean, I think, that you should give up knowing a lot about a little in order to devote ever more time to the noisy mosaic that's on your doorstep, nor does it mean you ought to give up and dive back into your hole. We've redefined worldly, but being an expert remains just as tough and important as it used to be.
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Mish's Global Economic Trend Analysis |
Posted: 13 May 2012 04:58 PM PDT I was hoping for an election announcement today, but the pressure is on for "one" more day as Greek President to Meet Four Party Leaders Tomorrow in one more attempt to form a "Unity Coalition". Greek President Karolos Papoulias will meet with political party leaders at 7:30 p.m. tomorrow as discussions on forming a national unity government continue, state-run NET TV said, without citing anyone.Greek Communist Head Calls For Annulment of Greek Loan Deal The Wall Street Journal reports Greek Communist Head Calls For Annulment Of Greek Loan Deal The head of Greece's Communist KKE party Sunday called for the annulment of the country's loan deal, ruling out her party's participation in a coalition government, even as Greece scrambles to resolve a weeklong political deadlock following inconclusive polls last week.For the benefit of Greece and taxpayers in the Eurozone in general, let's hope this last attempt to form a coalition falls flat. The sooner Greece leaves the euro, the sooner it will have a chance to recover. 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: 13 May 2012 12:06 PM PDT Things are looking better for Greece as the latest report is Greek coalition talks break down in acrimony. Greece appeared to be heading for fresh national elections after last-ditch coalition talks chaired by the country's president ended in mutual mud-slinging by the conservative, socialist and leftwing leaders.Again and Again Samaras Proves He's a Liar Samaras' idea that terms of the bailout can be renegotiated is a complete farce and he knows it. He is simply looking for any way to get into power. Moreover, falling tax receipts means only one thing: harsher austerity terms and more demand from Germany not less. If there was any change of heart from Germany, it would be up to Germany to lead the way, not Greece. Samaras knows this as well. I suppose one can accuse Syriza party leader Alexis Tsipras of lies as well, given he is running on a platform of staying in the Euro as well as defaulting on debts. However, anyone with an IQ above the level of a rock knows that is impossible. Let's hope for another election on June 10th or 17th, one with a clear mandate to tell the Troika to go to hell. Such an outcome is in the clear best interest of all of Europe. 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: 13 May 2012 11:32 AM PDT The BBC reports New election blow for Germany's Merkel Chancellor Angela Merkel's conservatives have suffered heavy losses in an election in Germany's most populous state, exit polls suggest.German Voters Reject Austerity The Financial Times reports German Voters Reject Austerity Angela Merkel's centre-right Christian Democratic Union suffered a bruising defeat on Sunday night in the election of a new parliament in North Rhine-Westphalia, Germany's most populous state, when the centre-left opposition of Social Democrats and Greens won a clear majority.Crown Prince Turns Into Frog It is probably amazing to most US citizens that a political party named "Pirates" running on a platform of internet freedom could win any seats. Such is the nature of European politics where parties get representation if they meet a small threshold, in Germany's case, a mere five percent. The big news is not the Pirate Party but the trouncing CDU took at the hands of the Social Democrats. Ex-crown prince, Mr. Röttgen, is now a toad because he played himself as a Merkel clone. He tried to take the blame for this debacle, but without a doubt Merkel will bear the brunt of the blame. 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: 13 May 2012 09:26 AM PDT Under the category of good news from Greece, the Financial Times reports Greek Unity Talks Hit Impasse. Talks between Greece's president and the leaders of the country's three largest political parties on forming a coalition government reached an impasse on Sunday, increasing the chances that the country will hold fresh national elections in June.Math Lesson For New Democracy Note the irony in New Democracy leader Samaras placing the blame on Alexis Tsipras. Syriza got 16.2% of the vote. Precisely whose fault is it that Samaras cannot muster a simple majority without that 16%? Perhaps the message that parties do not want to join a coalition that has raped and tortured Greek citizens to bailout German and French banks ought to sink into Samaras' thick head. Snatching Defeat From Jaws of Victory Until new elections are actually called, however, eurosceptics still fear the answer to this question: Will Greece Snatch Defeat From the Jaws of Victory? Pressure from the Troika and fear-mongering by all the politicians in the bailout-bed will be immense. There will be another decade of pain and suffering for Greeks if they stick to the Troika plan. However, there will be short but intense pain for Greeks if they tell the Troika to shove it. Which is worse? It seems Greeks have come to the correct conclusion. Syriza Up to 25.5% in Latest Polls Please consider Latest polls shows clear lead for far-left Syriza Real News reports that the Coalition of the Radical Left (SYRIZA) has gained support at the expense of the other parties. It puts Syriza on 25.5 percent, New Democracy on 21 percent, PASOK on 14.6 percent and the Communists KKE on 5.3 percent.Given that Greek law gives the winning party an extra 50 seats in parliament, a coalition between SYRIZA and one or two leftist parties is now in sight, yet another math lesson for Samaras as well as Troika-clown Evangelos Venizelos, leader of Pasok a Greek socialist party whose support in the polls is now down to 10%. In general, I have little use for socialists and radical left parties of any kind. However, they are the only ones talking sense about what needs to happen to the bailout agreements. The simple fact of the matter is Greece will not recover until it defaults on all external debt. Once that happens, and Greece takes a dive, hopefully new political forces can put Greece on the right path to needed reform. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Click Here To Scroll Thru My Recent Post List Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific. |
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Posted: 12 May 2012 01:38 AM PDT Posted by MozCTO Hello, I am Anthony Skinner, the CTO of MozLand! Many of you were affected by several SEOmoz tool issues that happened last week, unfortunately all colliding into one colossal day of craziness on May 3rd. We want to first apologize for any inconveniences or problems that these issues caused you.
We’re also going to be putting some of the new funding (read the memenouncement here) towards making sure things like this do not happen again. We’re investing in infrastructure improvements (blog post to come) to both help keep things running smoothly, and bring you new features and improve stability all around. We’re also hiring... if you’re a brilliant, motivated SEO-lover, apply here. Sign up for The Moz Top 10, a semimonthly mailer updating you on the top ten hottest pieces of SEO news, tips, and rad links uncovered by the Moz team. Think of it as your exclusive digest of stuff you don't have time to hunt down but want to read! |
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