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Sarkozy the Self-Appointed Savior Has "No Choice", Must "Reconquer" Voters to Save France Posted: 21 Sep 2014 07:15 PM PDT Arrogance cost former French president Nicolas Sarkozy the election in 2012. Judging from statements he made today, he's just as arrogant, if not more so today. He even brags of a bigger Facebook audience than Francois Hollande and his UMP party opponents, ignoring the fact that 60% of the electorate does not want him to run again. Self-Appointed Savior Has "No Choice" The Financial Times reports Sarkozy Pledges to Win Voters Back from French Far-Right. In a television interview, the former centre-right president who failed to get re-elected in 2012, said: "I am going to reconquer those French people," referring to the voters who in May helped the FN become the country's most successful party in EU elections. Mr Sarkozy, who on Friday confirmed his long-awaited return to politics less than three years after vowing to never again return to public life, said that his reappearance was due to necessity. "I had no choice," he said. Less Energy, More Wisdom, More Facebook Hits The Guardian reports Nicolas Sarkozy Sets Out Comeback Plans for France's UMP party on TV The former French president Nicolas Sarkozy was given a prime-time television news slot to explain his plans after announcing his return to frontline politics. Sarkozy set out his platform for the race to head the opposition UMP party, which will hold a hotly contested leadership vote in November. For Sarkozy: The Return Part II, he was given 45 minutes to reintroduce himself to the French public. If viewers had expected a changed, wiser and less confrontational Sarko, they were to be disappointed. Asking the presenter – twice – if he imagined that the former French leader had "just two brain cells", Sarkozy launched into a vigorous defence of his five years in power and a vehement attack on the state of France and the current Socialist government. Saying he had "perhaps less energy, but more wisdom", Sarkozy explained that he felt duty-bound to return not through personal ambition, but because of the "lack of hope, the anger and the absence of vision" that François Hollande's government had imposed on his compatriots. Despite his protestations of apparent humility, Sarkozy, 59, said his announcement had eclipsed those of his UMP rivals. He told the JDD: "My audience on Facebook doubled that of Hollande's press conference, and in a single day I've gained more new friends than [political rivals] Juppé and Fillon put together," he said. "I've read that one third of people are interested in my return. That's still 20 million people. How many would Hollande, Juppé or Fillon get if the same question was asked of them?" A poll by CSA for the television chain BFMTV before the televised interview on Sunday evening found that six out of 10 French voters disapprove of his comeback. Flashback May 6 2012 The Daily Mail reports Vulgar, rude and egotistical, President Bling-Bling has met his Waterloo. Few will mourn the departure of a man who promised so much but delivered so little with his strutting cockiness and super-rich friends. Nicolas Sarkozy made the right moves politically on the road to the presidency. But then came so many wrong moves in office, starting on the night of his election triumph when he celebrated with rich supporters at one of Paris's most expensive restaurants before jetting off to continue partying on the big yacht of a billionaire businessman. This set the tone for his tenure. He gave himself a 140 per cent pay rise, taking his annual salary above £300,000, then used state funds for late payment fines on his utility bills and £660 a day on fresh flowers He spent £240million kitting out a new presidential plane, complete with £1million soundproofed doors on a luxurious double bedroom and £60,000 bread ovens to ensure fresh-baked baguettes. Then he became embroiled in a series of financial scandals, including claims he took illegal donations from the elderly heiress to the L'Oreal fortune. Then there were pictures of the president checking his Blackberry during an audience with the Pope, which infuriated Roman Catholics, or the notorious occasion he swore at someone who disagreed with him at an agricultural fair. 'His behaviour is vulgar, I'm afraid,' said former defence minister Alain Richard. 'He has lost millions of older and conservative voters with his bad manners. They just do not think it is presidential behaviour.' During the campaign Mr Sarkozy apologised for his actions. But there was derision when his wife, who earned nearly £5million a year at the height of her modelling career, insisted they were modest folk who just liked watching soap operas. The campaign culminated with another controversial meal when Mr Sarkozy joined 50 guests at a fund-raising lunch of quails' eggs and blue lobster in Paris's most expensive hotel. Afterwards, he was caught on camera slipping off his £50,000 gold watch, a present from his wife. What's Changed? Nothing. 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.

ECB Executive Board Urges Germany to Borrow and Spend Posted: 21 Sep 2014 07:36 AM PDT In a foolish as well as never-ending attempt to prevent price deflation and revive growth, the ECB Urges Berlin to Cut Taxes and Spend. Berlin has hit back at calls from a top European Central Bank official urging Germany to spend more to help the eurozone escape from its economic malaise. In one of the most politically charged statements to come from the central bank, Benoît Cœuré, a member of the ECB's executive board, urged Berlin to increase borrowing in order to support investment and cut taxes. The article follows calls by ECB president Mario Draghi last month for governments to match the central bank's steps in loosening monetary policy with growth-boosting measures. However, Mr Cœuré and Mr Asmussen have gone further than Mr Draghi, who stopped short of asking Germany to raid its fiscal coffers. The German government reacted angrily at the op-ed, which comes ahead of French prime minister Manuel Valls' visit to Germany on Monday. "The article does not reflect current government policy and we don't agree," a spokesperson for Germany's finance ministry said. "Complaints that the German government supposedly does not invest enough are unfounded. We do invest significantly." One must differentiate between the official views of the ECB and the views of a pair of ECB governors  and that of Mario Draghi. Nonetheless, the position of Benoît Cœuré closely matches that ECB president Mario Draghi who hopes to spur lending, especially to SMEs (small and medium-sized businesses) via a trillion euro TLTRO scheme.  The only difference is that Draghi did not come out and say Germany specifically. Draghi simply wants more spending across the board. 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.

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Seth's Blog : Producers and consumers

 

Producers and consumers

In the short run, it's more fun to be a consumer. It sure seems like consumers have power. The customer is always right, of course. The consumer can walk away and shop somewhere else.

In the long run, though, the smart producer wins, because the consumer comes to forget how to produce. As producers consolidate (and they often do) they are the ones who ultimately set the agenda.

Producers do best when they serve the market, but they also have the power to lead the market.

The more you produce and the more needs you meet, the more freedom you earn.

       

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French Farmers Upset Over Falling Prices, Torch Tax and Insurance Offices, Dump Produce Posted: 20 Sep 2014 10:18 AM PDT As a direct result of sanctions on Russia, there is an overabundance of fruits and vegetables in France, Spain, Poland, and elsewhere in Europe. Basic law of supply and demand dictates prices of crops would fall. And they did. While most foolishly want to stick it to Russia, few actually are willing to pay the price if it affects them. Here is another case in point: French Farmers Torch Tax Office in Brittany Protest. French vegetable farmers protesting against falling living standards have set fire to tax and insurance offices in town of Morlaix, in Brittany. The farmers used tractors and trailers to dump artichokes, cauliflowers and manure in the streets and also smashed windows, police said. Prime Minister Manuel Valls condemned protesters for preventing firefighters from dealing with the blaze. The farmers say they cannot cope with falling prices for their products. A Russian embargo on some Western goods - imposed over the Ukraine crisis - has blocked off one of their main export markets. About 100 farmers first launched an overnight attack on an insurance office outside Morlaix, which they set light to and completely destroyed, officials said. They then drove their tractors to the main tax office in the town where they dumped unsold artichokes and cauliflowers, smashed windows and then set the building on fire. Everyone Loses The French protest underscores the stupidity of sanctions. No one wins. Russia does not get fruits and vegetables, but European growers lose income. France actually the worst end of it, with a tax office destroyed and widespread discontent spreading. In Russia, support for Putin is at all-time high. Sanctions will never work. 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.

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The World Is United in the Fight Against ISIL

Here's what's going on at the White House today.         DAILY SNAPSHOT Saturday, September 20, 2014             Featured Weekly Address: The World Is United in the Fight Against ISIL In this week's address, the President thanked Congress for its strong bipartisan support for efforts to train and equip Syrian opposition forces to fight ISIL. This plan is part of the President's comprehensive counter-terrorism strategy to degrade and destroy the terrorist group, and does not commit our troops to fighting another ground war. America, working with a broad coalition of nations, will continue to train, equip, advise, and assist our partners in the region in the battle against ISIL. In the coming week, the President will speak at the United Nations General Assembly and continue to lead the world against terror, a fight in which all countries have a stake. Click here to watch this week's Weekly Address.       Top Stories It's On Us to Stop Sexual Assault Yesterday at the White House, President Obama joined Vice President Biden and Americans across the country to launch the "It's On Us" initiative -- an awareness campaign to help put an end to sexual assault on college campuses. "It's On Us" asks everyone -- men and women across America -- to make a personal commitment to step off the sidelines and be part of the solution to campus sexual assault. READ MORE What's a Continuing Resolution and Why Does It Matter? This week, Congress passed and President Obama signed something called a Continuing Resolution, an important measure that ensures our government has the resources necessary to address key domestic and national security goals in the months ahead. Want to learn what exactly a Continuing Resolution is and what this one includes? Here's a few answers to some key questions that many Americans may be asking. READ MORE Stepping Up Our Efforts to Help Combat the Ebola Outbreak At the Centers for Disease Control and Prevention (CDC) in Atlanta on Tuesday, President Obama discussed the Ebola outbreak in West Africa and announced a major increase in our efforts to help fight the outbreak. While reiterating that the chances of an Ebola outbreak in the United States are very unlikely, the President emphasized that the outbreak is still a national security priority, and that the government has "devoted significant resources in support of our strategy." READ MORE   Facebook     Twitter    |   More Ways to Engage Did Someone Forward This to You? Sign Up for Email Updates This email was sent to e0nstar1.blog@gmail.com Unsubscribe | Privacy Policy Please do not reply to this email. Contact the White House The White House • 1600 Pennsylvania Ave NW • Washington, DC 20500 • 202-456-1111

Seth's Blog : What everyone reads

 

What everyone reads

Everyone used to read the morning paper because everyone did. Everyone like us, anyway. The people in our group, the informed ones. We all read the same paper.

Everyone used to read the selection of the book of the month club, because everyone did.

And everyone used to watch the same TV shows too. It was part of being not only informed, but in sync.

Today, of course, that's awfully unlikely. Only 1 or 2 percent of the population watch the typical 'hit' show on cable. Of course, it's entirely possible that everyone in your circle, the circle you wish to be respected by, is watching the same thing, but that circle keeps getting smaller, doesn't it?

And when 'everyone' isn't part of the picture any more, when the long tail is truly the only tail, plenty of people stop trying. They stop reading difficult books or watching less-than-thrilling video, and they don't push themselves to do the hard stuff, because, really, why bother?

Society without a cultural, intellectual core feels awfully different than the society that we're walking away from.

       

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Idiotic Proposals for Fed to Give Away Money Posted: 19 Sep 2014 12:27 PM PDT A Fiscal Times, Yahoo Finance article by by John Grgurich claims that Instead of QE, Fed Could Have Given $56,000 to Every Household in America . Grgurich formulated his article after reading "an intriguing piece just published in Foreign Affairs, Brown University political economist Mark Blyth and London-based hedge fund manager Eric Lonergan argue the Fed could have done better by pursuing a far different type of grand policy experiment." The "intriguing piece" is Print Less but Transfer More, Why Central Banks Should Give Money Directly to the People. Sheer Idiocy First, the Fed cannot give away money, it can only make money available for lending.  Second, the idea that the Fed should give away money is ludicrous, even it the Fed could.  Third, Grgurich is in severe need of math lessons as to what actually transpired.   The Math According to the census department the number of US households is 115,226,802. Base Money Supply has gone up from $848 billion at the start of 2008 to $4.150 Trillion today. That is an increase of roughly $3.3 trillion. An increase in money supply of $3.3 trillion is not the same thing as a gift of $3.3 trillion. At most, banks made 0.25% interest (free money) on excess reserves parked at the Fed. The actual amount of excess reserves is $2.7 trillion. 0.25% of $2.7 trillion is $6.75 billion. That is the amount the Fed effectively gives banks, per year. Spread among 115,226,802 households the gift would be $58.58 per year (less actually because excess reserves grew over time they did not suddenly hit $2.7 trillion). 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.

"Surprising" MH17 Crash Update Posted: 19 Sep 2014 07:33 AM PDT The title of this article, "Surprising" MH17 Crash Update, is accurate only in the sense the average sheep believes the average mainstream media report. Since that is the majority, the title is accurate. Mish readers, however, may find this report not surprising. Reader Marina from Toronto explains via email .... Hello Mish, My name is Marina. I am a long-time fan of your blog and a friend of Nicole Foss at Automatic Earth. I am also a volunteer translator for The Vineyard Saker website. Our team has just translated a very important report on the MH17 crash released by the Russian Union of Engineers. We have included several prominent journalists and other persons in the distribution of this important document. Regards, Marina Toronto Union of Engineers Report Please open your minds and download the Translated Report on MH17. Forget about the origin and give the report a read. It may open your eyes. Looking for another opinion? If so, please consider the Automatic Earth Commentary on MH17. I side with Raul on Automatic Earth who says "At the very least the report should be broadly discussed in western media, and western experts asked to refute what parts of it they find fault with." Indeed. Where is the discussion? My take: There is no government interest in any possibility other than a preordained self-serving US conclusion. Thus, there is not, nor will there be any mainstream media analysis of that nature barring a Watergate or Snowden-type disclosure. 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.

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