joi, 5 februarie 2015

Maximize ROI via Content Distribution Networks - Moz Blog

Maximize ROI via Content Distribution Networks - Moz Blog
Subscribe to the feed


Maximize ROI via Content Distribution Networks

Posted on: Thursday 05 February 2015 — 01:15

Posted by andrewmeyer


This post was co-written by: @AndrewMeyer8 & @AudreyBloemer at Seer Interactive.

Back in 2013, Seer began testing the use of content distribution networks to help promote assets and valuable content across the web. Our goal was to test a variety of distribution networks to determine the best ways to pay for promotion on client content and assets. Overall, we wanted to test the impact paid content promotion had on assets that we had previously launched and to measure the impact of this traffic on the high-level goals of each client.

For those of you unfamiliar with this form of content marketing, content distribution networks are quickly becoming powerful tools for engaging new audiences and expanding the reach of creative content. This method for online advertising provides content within the context of a user's experience, making the native advertising feel less intrusive and more like part of a discovery process, all while increasing the odds that users will click-through.

The native ads appear at the bottom of well-known content sources like Time, CNN, USA Today, ESPN & the Huffington Post, and are served to users based on a variety of algorithms. This reduces the feeling of actually seeing an ad, as users are captured when they finish digesting other content and feel they have discovered the promoted content naturally.

content distribution network

What started out as a $10k intern-led test for Seer has expanded into a full-blown service offering for current clients that we're working hard to improve every day. Wil Reynolds also presented on this during SearchLove London. With a growing amount of data across multiple networks, we'd like to:

  • Compare overall stats for a few content distribution platforms
  • Share the results from some of our most recent campaigns
  • Offer tips to help you maximize the ROI on your campaigns
  • Provide feedback on some of the content platforms we've used, researched or tested
  • Share a few tests we'll be running in 2015!

Content distribution networks to test

Below are the metrics we have across multiple clients and niches for networks with significant data to report on. This includes a mix of mobile, tablet and desktop advertising, but we've also broken it out individually. Since conversions vary across all our clients, we'll report on specific conversion metrics in a later section. Across almost 1 billion impressions, here are the metrics we've seen.

Overall metrics by network

taboola outbrain analysis

* Seer used nRelate throughout 2014 to promote content that was niche-specific to tech, computers/gaming, and gadgets. In December 2014, nRelate announced they would be shutting down after five years in the industry.

While we did use separate platforms for different verticals, clients and niches, visitors coming from Outbrain tended to be more engaged. Typically these visitors from Outbrain were also more familiar with those brands and were not new visitors. We typically used Taboola to promote newer clients with less marketing reach and therefore the higher new visitor percentage and bounce rates are to be expected.

Comparing mobile vs. desktop

mobile v desktop analysis taboola outbrain

We've seen higher engagement rates for lower costs on mobile devices across both networks. When a client has a responsive, mobile-friendly site and a positive user experience on mobile we always recommend testing mobile campaigns.

We usually start by separating the audiences into two campaigns, one targeting mobile/tablet users and one targeting desktop users so we can monitor performance, CPCs and spend on an individual level. This allows us to get the best bang for our buck.


Tracking conversions & ROI on goal-specific campaigns

Building a holistic campaign for conversions

Goal Set: Promote one landing page for a large client in the B2B product industry targeted at small business owners using a holistic campaign across native advertising, Google Display Network (GDN), Facebook, Twitter, LinkedIn, and outreach. The goal was to help generate 10 total conversions, with a goal CPA of $1,200 or less.

Results & ROI: Below is a breakdown of our results from this campaign, outlined by source, total percent of our spend, the sessions this spend drove and the percent of conversions for our campaign. Overall, we were able to reduce our CPA to $64.22 from the paid promotion efforts.

We spent the most with Taboola and it also drove the highest number of sessions. While Twitter spend was lower than three of the other channels, we were able to achieve a 10.53% conversion rate for the users we were able to drive to the site.

Despite Taboola having the lowest conversion rate, it was able to generate the largest percentage of conversions because of its ability to drive large quantities of traffic.

comparing conversion rate paid promotion

Improvements for Next Time: Next time, we'd like to better optimize our titles from paid distribution to target the demographics of our audience. We were looking for brand awareness and exposure, but could have altered our titles sooner to better target the niche market we were targeting which was small business owners.

Brand awareness & link building

Goal Set: Use Taboola to promote six content blogs from a recognized food brand to generate 5,000 visits for brand awareness & get 10 sites to link back to our content.

Results & ROI:

Taboola ROI

We ended up spending about $2,000 including setup time & spend, and drove over 11,000 clicks at a CTR of 0.055% to these posts. Over 6 posts, we saw an additional 1,000+ social shares and 82 new referring domains, or about $24.39/link. We also saw 31% higher pages/visit and a 28% lower bounce rate than our average campaign metrics.

Since the blog posts were all new and no outreach had begun, we were able to attribute the linking domains to paid distribution. Combined with the social shares, blog post comments and other goal completions throughout the site, we were very happy with the ROI for this campaign.

Important Note: Directly correlating links to content distribution networks can be difficult, so we recommend testing this with brand new blog posts, prior to any outreach, and using tracked URLs to differentiate traffic/conversions from the distribution networks. This also works best when you're promoting relevant and sharable assets in the right industries.

Improvements for Next Time: If we had redone this campaign, we would have made the embed links and social sharing buttons on the landing page more accessible and easier to use. The content we were promoting was timely, so the pickup was much better than if had we promoted during a down time.

Goal completions and lead completions

Goal Set: Promote asset from a prominent B2B company to increase lead generation.

Results & ROI:

CDN conversion rate

Through Taboola, we were able to promote the content on high quality sites like Entrepreneur and CNN Money. In less than one month, we drove 8,348 new visits at an average CPC of $0.32 and saw a 2.31% conversion rate, leading to 205 overall goal completions.

Improvements for Next Time: In the future, we'd recommend tracking additional assisted conversion goals to more accurately report ROI to the client. The page we promoted only had one clear CTA, so we also recommended including more prominent secondary CTAs such as social shares and PDF downloads to further increase the ROI and get visitors to complete additional actions on the page.


10 steps to better maximize your ROI

  1. Use Custom Tracking URLs & Parameters - Setting up parameters for your landing page URLs can help you track ROI all the way down to specific images or titles. Platforms typically offer the ability to include parameters on campaigns, but we'd recommend testing down to the image & title level as this can also help you determine which titles brought in more qualified traffic. By placing custom tracking on your embed links, you can also better track the link building results of your content promotion.
  2. Set Goals Prior to Launching a Campaign - Setting goals is a great way to both measure the success of your promotion and make improvements for the following campaigns. This will also help you to manage expectations for yourself and your clients.
  3. Include Micro Conversions on Landing Pages - Micro conversions help to track additional ROI from your content distribution. Maybe email signups or following your brand on social are valuable micro conversions for your business. These can also lead to additional reporting values once the campaign closes.
  4. Use Event Tracking on Landing Pages - Event tracking is by far the most useful method we have for tracking micro conversions. These can be assigned a variety of fields for a more granular analysis. We expand further on this process here.
  5. A/B TEST! - We can't mention this enough, but regardless of the goals behind your campaign, always set up some sort of A/B test. At a minimum test a few different titles and images on each piece of content you decided to promote. You can also test landing pages performance and optimize your pages for conversions! Setting a daily cap on your campaigns allows you to decipher the data and make changes before spending your entire budget in a day!
  6. Set a Daily Cap & Don't Be Afraid to Cut It Off - Setting a daily cap on your campaigns allows you to decipher the data and make changes before spending your entire budget in less than a day. Also, don't be afraid to cut off a campaign if the results are underwhelming. Usually two or three days of data is enough to tell if it's worth your time and investment. Cut it off and regroup with better titles, images or new content all together.
  7. Add a Static Content Widget Below Your Own Content - When we tested paid promotion vs. PPC, we found that on average, content distribution networks had an 8% higher bounce rate. In order to combat high bounce rates, perhaps include a custom widget at the bottom of your posts to keep users on your site. How did people end up finding your articles? Through the "read more" or "you may like" sections below content pieces! You can either hardcode additional blog posts at the bottom or rotate your most popular articles to help keep users on your site and engaged with your brand's content.
  8. Use Your Data to Inform Future Decisions - Once you A/B test titles, images and landing pages, measure the success of each campaign and use that data to inform future content and marketing decisions. If certain titles or images resonated well with your audience, update the posts you promoted and use this knowledge to help make future decisions. You can even use the data to inform your PPC decisions as well!
  9. Write Titles to Better Target Demographics - With most content distribution networks, you can't target by demographic or interest. One way to better utilize your spend is to speak directly to your audience with your campaign titles and images. In one campaign, we were looking to target 35-45 year old mothers for a contest and used CTAs in our titles that were focused directly at moms.
  10. Implement Social Sharing Numbers and Prep for the Residual - We've found that making your social sharing buttons more prominent and including social sharing counters led to an exponential increase in shares. Also, prepare for residual traffic after you pause a promotion. Looking at the cumulative traffic to five landing pages of a recent campaign, we saw an additional 15,540 visits to these pages over six weeks, from social and new backlink referrals, after the promotion ended. If you've found the right audiences that share via social, the reach for the campaign continues to grow even after the promotion ends.

paid promotion timeline


Features for each distribution network

Seer POV: Overall, we've found that this platform is highly scalable as you can send a higher quantity of traffic more quickly than others at a lower cost. In terms of quality of traffic, bounce rates compared to Outbrain are slightly higher and on average users spend less time on site than Outbrain visitors. However, depending on niche, Taboola can outperform Outbrain.

Pros: Generally less-expensive CPCs than other platforms, easier to upload content, images and titles, well-respected news and content publishers.

Cons: Can't edit multiple campaigns or multiple titles/images at once, somewhat outdated admin/backend platform, and inability to pull native ad examples appearing in the wild.

taboola pros cons

Seer POV: Along with Taboola, this is one of Seer's favorite distribution networks. One intriguing development for Outbrain is they recently became the sole provider of content distribution for Time.com, which makes their platform more appealing to advertisers like ourselves in 2015.

In terms of quality of traffic, Outbrain generally sends fewer visitors to the site for the same cost as Taboola, but users are more engaged and tend to have a higher conversion rate.

Pros: Better post-click results in our tested campaigns and easy uploading system.

Cons: The self-service admin is also a little difficult to use. Can't pull large data sets from the admin, so when comparing to a Twitter or Pinterest Analytics dashboard, there is definitely room for improvement!

outbrain pros cons

Seer POV: Gravity once had a substantial monthly minimum, which caused us to initially forgo testing in 2014. Now that the threshold has been lowered, we've started planning initial campaigns for Q1 of 2015. Some of their larger network sites include Wordpress, AOL, Forbes & exclusivity with the Huffington Post. Gravity also has some niche specific sites that might work well for auto, beauty and sports content. We'll follow up once we have statistics to share.

Seer POV: ZergNet operates differently than the other distribution networks, as it is not yet monetized. It's free to work with ZergNet, but you're required to have a widget placed on your site to promote your article (along with others), that sends traffic to the ZergNet homepage. The problem with this model is that it's a 1:1 relationship and you must push traffic from your site to Zergnet in order to capitalize. If you are looking for a CPC mode,l you will not find it here. While a CPC model is not yet available, there are plans to potentially expand to this in 2015.

Seer POV: Initially, there were high monthly minimums for spend, however if you upload funds via a credit card, then there are no monthly minimums. The biggest advantages we see is here is the ability to target based on interests (other content networks use an algorithm that advertisers can't control) and implement retargeting for ads. Publishers include Forbes, VentureBeat, Parade, Bloomberg, Answers.com and more.

Seer POV: Zemanta has moved away from their old platform to promote content at scale across multiple content networks. They'll aggregate your content into multiple ad formats, then use platforms like Outbrain, Adblade, Gravity, and Disqus to promote them at scale. We prefer to work directly with each platform for more transparency and control over campaign optimizations.

Others we've reviewed, but not yet tested:


What's next? What we're testing in 2015

2015 is going to be another big year for content marketing, especially as digital continues to grow into a more holistic marketing channel. As we shown above, we've spent a lot of time testing out various networks and strategies in 2014 and are excited to continue the push in 2015, specifically on paid social promotion combined with content distribution.

Content promotion is more than just building links; it's about doing #RCS and running integrated campaigns to drive engagement and interest in your business. During the course of the year we worked closely with one of our largest ecommerce clients to support several marketing campaigns.

The goal was to drive engagement with the assets created and ultimately to drive users to complete the desired conversion action, which was a combination of signups and downloads. The results of this campaign led us to put more emphasis on this holistic approach.

paid promotion comparison chart

While not all social networks have the scale of the content distribution networks, their targeting abilities more than make up for it. You can see that overall conversion rates are much higher with relatively comparable CPCs. While, setting up multiple, A/B tested social campaigns is a more tedious process and slightly more costly compared to content networks, the results we've seen when compared 1:1 to content distribution are promising.

Lastly, since Pinterest just opened up their ad platform to businesses in January, we'd like to start combining content distribution with concurrent Pinterest promotion to determine how Pinterest ads stack up against the variety of other distribution platforms. We're already seeing quite a significant ROI in our initial test, with CPCs ranging from $0.20 - 0.25 and CTRs around 0.15% - 0.20%.

Do you have any data to share on other content distribution networks? Are there any other networks we should be testing in 2015? We'd love to hear your comments below or feel free to reach out via Twitter - @AndrewMeyer8 & @AudreyBloemer!


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!

You are subscribed to the newsletter of Moz Blog sent from 1100 Second Avenue, Seattle, WA 98101 United States
To stop receiving those e-mails, you can unsubscribe now.
Newsletter powered by FeedPress
FeedPress is a service edited by Beta&Cie, www.betacie.com

Seth's Blog : A bird in search of a cage

A bird in search of a cage

So much freedom, so much choice, so many opportunities to matter.

And yet, our cultural instinct is to find a place to hold us, a spot where we are safe from the responsibility/obligation/opportunity to choose. Because if we choose, then we are responsible, aren't we?

HT Kafka.

       

More Recent Articles

[You're getting this note because you subscribed to Seth Godin's blog.]

Don't want to get this email anymore? Click the link below to unsubscribe.



Email subscriptions powered by FeedBlitz, LLC, 365 Boston Post Rd, Suite 123, Sudbury, MA 01776, USA.

miercuri, 4 februarie 2015

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


ECB Revokes Greek Bonds as Collateral; ECB vs. Novices; Brass Knuckles

Posted: 04 Feb 2015 04:54 PM PST

It's difficult keeping up with the news. As soon as I finished Germany's "Time Pressure" Thesis; Noose Tightens on Europe, significant news on the debt standoff hit the press.

ECB Cancels Acceptance of Greek Bonds as Collateral

An ECB press release today discusses Eligibility of Greek bonds used as collateral in Eurosystem monetary policy operations.

In a nutshell, the ECB unexpectedly and suddenly canceled acceptance of Greek bonds as collateral for liquidity funding unless Greece honors the existing deal.

Until that happens, the Greek central bank, not the ECB, will have to take care of liquidity needs related to runs on Greek banks.

The ECB press release states the situation with little fanfare as follows: "The Governing Council decision is based on the fact that it is currently not possible to assume a successful conclusion of the programme review and is in line with existing Eurosystem rules."

Brass Knuckles

Reuters reports ECB Cancels Soft Treatment of Greek Debt in Warning to Athens.

The title is silly. When did the ECB ever provide Greece with a "Soft Treatment"? 

As I have pointed out, the much abused word "solidarity" has come to mean "Do what we say, or else!"

ECB vs. Novices

Prior to starting this post, I added an addendum to Germany's "Time Pressure" Thesis; Noose Tightens on Europe.
Addendum:

A Bloomberg View on "Greece's Hidden Haircut Proposal" just came my way: "By the time the EU is done with the Syriza novices, Greece's debt may be a little lower, but the government's radicalism will be a tattered banner," says author Leonid Bershidsky.

Bershidsky is another in a long line of persons who do not understand simple math. Time will tell who is waving the "tattered banner" over what can and cannot be paid back. My bet, one way or another, is on the alleged "novices".
Who is the Novice?

One way or another, there is going to be a major haircut. Here are the choices.

  1. An adult meeting of minds takes place as to what can or cannot be paid back.
  2. Parties agree to yet another can-kicking exercise that prolongs the agony at increasing expense down the road.
  3. Greece suddenly defaults with massive repercussions now instead of later.

Like it or not, there are no other choices. Normally, one would expect option number 2. That is what bureaucrats most often do.

However, it's increasingly likely that both Syriza and Germany have both had enough. German citizens support the "no-haircut thesis" by a 68%-28% margin.

Admission of Obvious Truth

Meanwhile, in a interview today on Zeit Online, Greek finance minister Yanis Varoufakis accepts the obvious truth: "I'm the Finance Minister of a Bankrupt Country"

Please read the interview.

Also read Alexis Tsipras "Open Letter" to German Citizens Regarding Extend-and-Pretend Unserviceable Debt.

Varoufakis and Tsipras are political novices, but both seem to be masters of game theory, and both know full well (and are willing to admit) Greece is bankrupt.

The honest admission, "Greece is bankrupt" should take them down the correct path, that extend-and-pretend is precisely the wrong thing to do.

Spreading the Pain

It's painful for any politician to say "we are bankrupt". Yet that admission paves the way for other things.

For the sake of Greece, I actually hope Syriza keep its pledge to negotiate a debt reduction.

Then, if the ECB and Germany do not bend, history will eventually show them to be the novices, not Greece.

Exit Math

I wrote about exit math twice recently.


If Germany and the eurozone do not bend significantly, Greece may very well come to the conclusion it has little to lose and everything to gain in the long haul by telling the Troika to go to hell.

One Step Closer to Solution

My math says Grexit will be painful for Greece, but it will be far more painful for Germany.

There is much merit regarding a global debt solution in proving that statement, even if Greece does not properly take advantage of the opportunities Grexit would provide.

Meanwhile, I repeat my January 9 warning once again: Another Run on Greek Banks Begins; Get Out While You Still Can; Buy Gold

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Germany's "Time Pressure" Thesis; Noose Tightens on Europe

Posted: 04 Feb 2015 12:51 PM PST

No Bad Compromises Says Germany

Today German Chancellor Angela Merkel proclaimed Greek Diplomatic Offensive Is Failing.

Merkel's Christian Democratic-led bloc in parliament has agreed not to give in to any "bad compromise that "defacto adds up to a debt writedown," Hans-Peter Friedrich, a deputy leader of the caucus, said in an interview today.

"Greece, not Germany, is under time pressure," Friedrich said, citing the Greek government's cash requirements following the end of the current round of bailout funding at the end of the month. Tsipras and Varoufakis "aren't in a position to make demands, let alone try blackmailing tactics," he said. 

Noose Tightens on Greece (and Europe)

France is the only country that had shown any sympathy towards restructuring Greek debt.

However, Greek hopes for France hit the hard rocks of reality today when French President Francois Hollande warned Greek Prime Minister Alexis Tsipras that "respecting the rules is necessary for all, for France too, and it's not always easy."

Southern Solidarity?

Think Spain is sympathetic to Greece? Think again. The Financial Times reports Spain Keeps Hawkish Eye on Greece as Southern Solidarity Crumbles.

There never was any "Southern Solidarity" on this issue (except with Germany).  I explain why in Voter Sentiment in Spain Shifts Towards Podemos in Growing Numbers.

Podemos and Syriza are philosophically aligned, and the leaders of both parties communicate with each other.

Meaning of Solidarity

Merkel has repeatedly pledged "solidarity" with Greece. Her curious definition is along these lines: "Do exactly what we tell you, or suffer the consequences".

Meaning of Generosity

German finance minister Wolfgang Schäuble said "Europe had already pushed its generosity to Greece to the absolute limit. We need solidarity in Europe, and besides we cannot be blackmailed."

Schäuble's definition of "generosity" is to load Greece up with €250 billion in debt that cannot possibly be paid back, then demand repayment.

Alexis Tsipras politely blasted the alleged German "generosity" in a letter to the German newspaper Handelsblatt. (See Alexis Tsipras "Open Letter" to German Citizens Regarding Extend-and-Pretend Unserviceable Debt).

I happen to agree with that letter in entirety, even though I strong disagree with other Syriza positions.

Please read the letter if you haven't yet done so. It makes a mockery of the alleged "generosity".

Smart Debt Engineering

Yesterday the stock, bond, and commodity markets went absolutely giddy over a Smart Debt Engineering proposal by Greek finance minister, Yanis Varoufakis.

Varoufakis said the government would no longer call for a headline write-off of Greece's €315bn foreign debt. To avoid the term debt "haircut", Varoufakis instead proposed  a "menu of debt swaps" and "perpetual bonds".

I commented "Perpetual bonds: clearly never meant to be paid back. Gotta love the honesty of the idea."

No Foot Kissing

In spite of the fact that Greece had done nothing but ask for a "haircut" disguised by the term "perpetual bond", the markets acted as if Alexis Tsipras kissed Angela Merkel's foot.

Today, oil reversed again, giving up all of yesterday's gains and then some. It's down 8% on the day. Equity markets held yesterday's gains, sticky as usual.

"Time Pressure" Thesis

Let's return to a statement made by Hans-Peter Friedrich, a deputy leader of Merkel's caucus: "Greece, not Germany, is under time pressure."

Friedrich's statement is one of the following.

  1. Blatant ignorance
  2. Game playing bluffery

I often wonder, "Do these guys really believe what they say? Can they be that ignorant?"

As a big fan of Occam's Razor (the simplest explanation with the least assumptions is most likely the correct one), the answer to both questions would tend to be yes. Why? Because "game playing bluffery" assumes they are telling a lie, doing so on purpose, in belief the other guy will not see the bluff, whereas "blatant ignorance" is a simple assumption.

However, we also have the popular thesis eloquently stated by Jean-Claude Juncker, former Luxembourg PM and former Head Euro-Zone Finance Minister "When it becomes serious, you have to lie".

Thus, one has to carefully balance these two ideas

  1. Politicians lie, it's what they do.
  2. Politicians in general are economically illiterate.

From that aspect, it's very hard to tell exactly what's going on.

Time Pressure on Both Sides

Unless there is an agreement (someone gives in big time), Europe is headed for a massive blow-up.

I believe Germany has far more to lose than Greece should an exit occur. German responsibility for its share of the debt would be close to €73 billion, Italy €48 billion, Spain €32 billion.

Anyone who does not think that would cause instant devastating contagion is crazy.

That begs the question: Does Merkel really believe Greece does not matter from a contagion aspect, or is that a ridiculous bluff?

For a country-by-country analysis of contagion math, please see Revised Greek Default Scenario: Liabilities Shifted to German and French Taxpayers; Bluff of the Day Revisited.

Game Theory Math Revisited

It still appears as if neither side will back down. Let's recap my post from January 30: Greece Will Not Accept Bailout Extension or Deal With Troika; Mish's Game Theory Math

"We're prepared for any discussions at any time but the basis can't be changed" sets the tone for Germany.

I wonder if the Greek position is on purpose.

Tsipras' claim that he wants Greece to stay on the euro. That helped get him elected. Is that how he really feels?

If not, then unless he gets nearly everything he wants, Grexit is all but assured. And if no agreement is reached, Tsipras has an easy fallback plan: Blame it on Germany and the much hated Troika.

Mish's Game Theory Math

  • Greece will be severely disadvantaged in the short term if it exits. But it will also recover faster.
  • If Greece stays in the eurozone, on Germany's terms, it will bleed to death for another decade or more.
  • Germany and the Eurozone have more to lose than Greece.
  • If Greece exits, the entire eurozone will blow sky high simply because of "exit math"

Exit Math

I wrote about exit math twice recently.


If Germany and the eurozone does not bend significantly, Greece may very well come to the conclusion it has little to lose and everything to gain in the long haul by telling the Troika to go to hell.

And that is a position I endorse even though I disagree with many of the overall policies of SYRIZA.

In the end, my analysis says the eurozone has far more to lose than Greece if a Grexit occurs. However, I highly doubt Germany realizes that.

Even if Germany does, it takes unanimous agreement from all 19 eurozone countries to revise the agreement. That's part of the math.

Place your bets.

Time on My Side

As a tribute to the silliness of Germany's "Time Pressure" Thesis, I offer this musical tribute.



Link if video does not play: Rolling Stones Time is on my side (1964). That's a very enjoyable live Ed Sullivan Show video, well worth a flashback memory play.

Time on No One's Side

Time is not on anyone's side here. Especially Germany's. Both sides are under pressure.

When Friedrich says "Greece, not Germany, is under time pressure," he is either engaged in a dangerous bluff, or he displays blatant economic ignorance.

The same applies to Chancellor Merkel when she claims the eurozone is prepared for a Greek exit.

Addendum:

A Bloomberg View on "Greece's Hidden Haircut Proposal" just came my way: "By the time the EU is done with the Syriza novices, Greece's debt may be a little lower, but the government's radicalism will be a tattered banner," says author Leonid Bershidsky.

Bershidsky is another in a long line of persons who do not understand simple math. Time will tell who is waving the "tattered banner" over what can and cannot be paid back. My bet, one way or another, is on the alleged "novices".

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Voter Sentiment in Spain Shifts Towards Podemos in Growing Numbers

Posted: 04 Feb 2015 11:38 AM PST

Not only does Germany and the Troika have its hands full with Greece, Podemos Cements Position in Spanish Polls.
Spanish voters are shifting their support towards Podemos in growing numbers, according to a poll that provides fresh encouragement to the far-left anti-establishment party as it prepares for a series of tricky electoral contests over the next few months.

The poll showed that Podemos would win 24 per cent of the vote nationwide, making it the second-biggest group behind the ruling Popular party of Mariano Rajoy, prime minister. The figures showed a rise from 22.5 per cent in October and 15.3 per cent in July last year.

Released by the CIS research centre on Wednesday, the poll offers the first barometer of Spanish public opinion since the January Greek elections, which saw the triumph of the far-left Syriza party, a close ally of Podemos. Podemos has already sought to capitalise on the triumph of its Greek partner, holding a mass rally in Madrid last Saturday that attracted more than 100,000 supporters.

The survey also offered an important pointer ahead of next month's election in Andalucia, the most populous region in Spain and a traditional bastion of the centre-left Spanish Socialist Workers' party (PSOE).

The CIS poll found that Podemos was now the only main party whose support was still rising — suggesting that the new movement had yet to hit its electoral ceiling. The PSOE, still the main opposition force, fell back to third place.
Poll Trends



Dissatisfaction

In spite of the alleged recovery in Spain voters are disastified. Why? Unemployment is still near 24% and youth unemployment is still over 50%.

Recall that Podemos "Economic Manifesto" Calls for Debt Restructuring, Spain to Abandon the "Euro Trap".

"Spaniards should be aware that it is physically impossible that they can pursue policies that meet the national interest, within the euro as it is designed. The euro was conceived as a real trap, but nowhere is it written that people have to accept it ." said Iglesias.

Also consider Incredible Populist Positions in Podemos' "Economic Manifesto".

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Nestles Has First Ever Negative Interest Corporate Bond; Privilege of Lending Gone Mad

Posted: 04 Feb 2015 09:25 AM PST

Economic madness continues nonstop. In the race for safe havens Nestle Bond Yield Falls Below Zero
Nestle's short-term euro-denominated bond yield has fallen into negative territory, possibly marking the first time in history that a corporate bond maturing in more than a year has had a negative yield.

Alberto Gallo of RBS points out that if eurozone companies and governments continue to issue debt at the same pace, then the euro-denominated bond market will actually start to shrink once the ECB starts buying, given that its purchases will outstrip monthly supply of debt.



Privilege of Lending Gone Mad

Yes indeed folks, you can can now pay Nestles for the privilege of lending it money.

In honor of this historic event, I offer this 1950s historical tribute.



Link if video does not play: 1950's Nestle's Quik w/Jimmy Nelson, Danny 'O Day, and Farfel TV commercial snippet

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Damn Cool Pics

Damn Cool Pics


Helpful Tips From People That Work In The Service Industry

Posted: 04 Feb 2015 11:54 AM PST

These tips could help you save a lot of time, money and aggravation.
















What A Difference A Bath Makes

Posted: 04 Feb 2015 11:39 AM PST

This poor fox had been trapped in the mud when some people walking by decided to help him. Then it was off to the animal hospital for a bath and now he looks brand new again.

















This Is How It's Done

Posted: 04 Feb 2015 11:31 AM PST

What are all these smartphones for?



Chinese women work the whole day long ranking the App Store applications and writing the reviews. Number of installs, good ratings and reviews push the apps to the top of the App Store.