miercuri, 16 mai 2012

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


Real Estate Crash in China Underway: Foreign Funding Down 80%, Land Sales Down 57%, Starts Down 27%; Expect Chinese GDP to Plunge

Posted: 16 May 2012 03:39 PM PDT

Inquiring minds are reading an excellent report China Real Estate Unravels by Patrick Chovanec, a professor at Tsinghua University's School of Economics and Management in Beijing, China.

The report confirms many of the things I said would happen in regards to the Chinese real estate bubble and GDP.

Here are a few items of note.

Developers, burdened by 70% leverage ratios and loans threatening to come due, rushed to complete projects already in their pipeline, to put those units onto the market and raise cash.

That rush to complete inflated real estate investments, allegedly up 23.5% in the first quarter. Other statistics from the report tell the real story.

  • Year-on-year sales in Q1, for all real estate, was down 14.6%.
  • Residential property sales were down 17.5%
  • Office sales were down -10.2% 
  • Sales in January-February were a disaster, falling 20.9% overall, compared to the first two months of 2011, -24.7% for residential.
  • Total amount of floor space "for sale" was up 35.5%, compared to the same date last year
  • Floor space of residential units "for sale" grew 47.4%.
  • At the end of 2011, total floor space "under construction" was roughly 4.6 times the floor space sold
  • A year and a half worth of excess inventory is hidden somewhere in the pipeline
  • New starts in April fell 14.6% year-on-year and 27.0% month-on-month, for property as a whole
  • Housing starts fell -14.4% year-on-year and -23.4% month-on-month
  • Office starts fell -21.0% year-on-year in April, and -45.1% compared to March
  • Retail property starts fell -18.7% year-on-year, and -36.8% compared to March
  • Land sale revenues in April (RMB 27 billion) were down -54.7% compared to April last year
  • Foreign funding for property development was down -91.4% in March and -80.8% in April, compared to the same months last year.

Clearly a crash is underway. The above stats also show the soft-landing thesis is written on toilet paper.

GDP Analysis

I like the analysis by Chovanec on GDP implications and the highly-overrated "soft landing" theory.
The "resilient" growth in real estate investment that seemed to promise a "soft landing" is not very resilient at all. It's more like the last gasp of a market that's running out of steam. Once the surge in completions plays out, the declining number of new starts will become the pipeline, and growth in property investment will flatten or go negative.

Property investment accounts for roughly a quarter of gross Fixed Asset Investment (FAI), and net FAI accounts for over half of China's GDP growth. As I noted in January, in a back-of-the-envelope thought exercise, if property investment plateaus (growth falls to zero), it could shave as much as 2.6 percentage points off of real GDP growth. If it fell 10% (in real, not nominal terms) it could bring GDP growth down to 5.3%.

At the time I first saw this dynamic in the data, when the Q1 numbers came out, I figured it would take several months to begin playing out. But the April numbers suggest it is already happening.
Chovanec notes if real estate investment drops by 10%, GDP will come in at 5.3%. What if real estate investment falls by 20% or 25%? Moreover, why shouldn't it?

Nails in the Hard Landing Coffin?

One of the sillier stories making the rounds earlier last month was China currency move nails hard landing risk coffin

I responded at the time with ...
The longer China puts off rebalancing its economy, the bigger the crash later on. Moreover, widening the band on its currency is a needed part of that rebalancing, and does not preclude in any way a huge slowdown in growth.

The structural imbalances in China are large and for now, still growing. However, huge cracks have appeared in real estate, and changes are coming up with a regime change. Finally, peak oil alone makes many of the growth estimates we have seen for China outright impossible.
The real estate crash has arrived. The GDP crash will follow. For details, please see 12 Predictions by Michael Pettis on China; Non-Food Commodity Prices Will Collapse Over Next Three to Four Years; Nails in the Hard Landing Coffin?

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


Capital Flight From Greece Accelerates, €5bn in May, Exodus Even Hits Time Deposits; Fed, ECB, BOE, BOJ Balance Sheet Comparison

Posted: 16 May 2012 08:22 AM PDT

Capital flight from Greece continues, €5bn in May, not counting orders to buy foreign bonds. The exodus now includes cashing out time deposits as reported by the Financial Times in Greek banks see steady deposits outflow.
Greek banks have seen a steady outflow of deposits this month, reflecting savers' concerns over the failure of political leaders to form a coalition government and the prospect of another inconclusive election, which will be on June 17.

Athens-based bankers said withdrawals exceeded €1.2bn on Monday and Tuesday – 0.75 per cent of deposits – as President Karolos Papoulias failed in two final meetings with conservative, socialist and leftwing leaders to form a national unity government.

A senior Greek banker said the experience of the past few days "gives rise to concern that withdrawals may accelerate". Another banker said: "We are seeing something very unusual, customers breaking their time deposits in order to withdraw funds."

"The situation with the banks is extremely difficult ... there is no panic but there is great fear which could turn into panic and the resistance of the banks is very limited just now," Mr Papoulias told the political leaders on Sunday, according to a transcript of the meeting released by his office.

The president cited a briefing by George Provopoulos, the central bank governor, who told him that withdrawals last week reached €700m, excluding funds used to buy German bonds and other foreign securities.

One of the Greek bankers said that since the end of April, deposits had been reduced by some €5bn, including orders to buy foreign bonds and securities.
Why anyone would have even a cent in Greek bank accounts is a complete mystery. Certainly the smart money left long ago.

Here are a few charts courtesy of Steen Jakobsen, chief economist at Saxo Bank in Denmark.

Demand Deposit Flight: Greece, Italy, Portugal, to Germany



click on chart for sharper image

ECB Deposits



click on chart for sharper image

Central Bank Balance Sheets as Percent of GDP



click on chart for sharper image

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


Note to Ambrose Evans-Pritchard at The Telegraph: You Have Excellent Insight as to What is Happening and Why, But Please Get a Grip on Reality as to Solutions

Posted: 16 May 2012 12:37 AM PDT

Once again, I sadly report that Ambrose Evans-Pritchard at The Telegraph hits the nail on the head as to what is happening, yet cannot hit the broadside of a barn with a shotgun from 15 feet in regards to the solution.

It really pains me to see excellent analysis go straight into the toilet with hopeless proposals to problems at hand.

Please consider Appetiser cost of Greek exit is €155bn for Germany, France: trillions for meat course by Ambrose Evans-Pritchard.
Eric Dor's team at the IESEG School of Management in Lille has put together a table on the direct costs to Germany and France if Greece is pushed out of the euro.

These assume that relations between Europe and Greece break down in acrimony, with a full-fledged "stuff-you" default on euro liabilities. It assumes a drachma devaluation of 50pc.

Potential losses for the states, including central banks.


Upper bound of the losses
Billions €

French State
German State
TARGET2 liabilities of the Bank of Greece
22.7
30.2
Greek sovereign bonds held by the Eurosystem: SMP
9.8
14
Bilateral loans to Greece in the context of the first programme
11.4
15.1
Guarantees to bonds issued by the EFSF to provide loans to Greece in the context of the second programme
8.4
11.2
Guarantees to debts issued by the EFSF in the context of its participation to the "Private Sector Involvement" –restructuration of the Greek debt:"sweetener"
6.5
8.6
Guarantees to debts issued by the EFSF in the context of its participation to the "Private Sector Involvement" –restructuration of the Greek debt: payment of accrued interest
1
1.4
Guarantees to bonds issued by the EFSF to provide loans to Greece in order to buy back sovereign bonds used by banks as collateral to obtain funding from the Eurosystem
7.6
10.2
Total
66.4
89.8


Sounds about right.
So far so good. I think a 70% devaluation is about right, but let's not quibble.

Contagion Silliness

This is where Pritchard's analysis starts getting more debatable.

Pritchard writes ..."Needless to say, the real danger is contagion to Portugal, Ireland, Spain, Italy, Belgium, France, and the deadly linkages between €15 trillion in public and private debt in these countries and the €27 trillion European banking nexus."

This idea of contagion sounds much like the totally discredited "domino" theory in regards to Vietnam. Simply put the rest of Asia did not fall into the hands of communists when the US lost the war in Vietnam.

In this case, Spain will sink or swim on its own merits regardless of what Greece does.

If anything, there will be contagion in the reverse sense. There exists a possibility that Greece recovers "because" it exits the Eurozone (however structural reforms are needed as well).

The ridiculous fear is failure in Greece will lead to a failure in Spain. Clearly both states have failed already.

Mad Hatter Tirade

Pritchard then went off the deep end into a mad hatter tirade.
This nonsense can of course be stopped in ten minutes if the EU:

1) announces that it will equip itself with a real central bank (a lender of last resort) that takes all risk of sovereign default off the table — with conviction and overwhelming force, with no ifs and buts, and no ambushes from the Bundesbank.

2) announces EMU debt-pooling, fiscal union, a joint EMU budget and tax system, and an EMU government as a counterpart for the enhanced the ECB.

The idea that Greece and Spain can be saved by central bank printing "with conviction and overwhelming force, with no ifs and buts" is of course asinine.

Sorry Ambrose, "asinine" is the best word that describes what you propose. Greece and Spain can only be saved if and only if they implement badly-needed structural reforms.

Defaulting on debt which would cause inflation in Greece and Spain (not Germany), may assist recovery, but the 100% necessary condition in both cases is structural reform.

Pritchard then recovers by concluding ...
My sympathies to the German people. This is what your leaders got you into (without asking permission). It was the elemental implication of monetary union.

We at the Telegraph screamed from rooftops in the early 1990s that EMU was a destroyer of nation states, and democracies. So did the brave German professors. Nobody would listen.

My guess is that German citizens will not accept this implication.
Precisely!

As Pritchard suggests, Germany will indeed pay. Mathematically Germany must pay. It's something I have pointed out numerous times over the years.

The problem as Pritchard notes is the flaw in the Eurozone in the first place.

I commend Pritchard for being among the first to point that simple fact out. However, neither Keynesian nor Monetarist nonsense is the cure for anything.

Regrettably, Pritchard keeps attempting to put a square peg into a round hole, and worse yet keeps proposing "asinine" solutions to a fundamental problem.

If Wishes Were Fishes

  • If monetary stimulus worked, the LTRO would have been a spectacular success already. 
  • If monetary stimulus worked, housing in the US would be in full-blown recovery.
  • If monetary stimulus worked, Japan would not have a debt-to-GDP ratio above 200%. 
  • If printing worked, Zimbabwe would have been the greatest country in the world long ago.

It is really sad to see otherwise fine analysis go straight into the toilet with such ridiculous proposals as solutions.

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


17 Types of Link Spam to Avoid

17 Types of Link Spam to Avoid


17 Types of Link Spam to Avoid

Posted: 15 May 2012 02:02 PM PDT

Posted by Carson Ward

If the last few months of ranking changes have shown me anything, it's that poorly executed link building strategy that many of us call white hat can be more dangerous than black-hat strategies like buying links. As a result of well intentioned but short-sighted link building, many sites have seen significant drops in rankings and traffic. Whether you employ link building tactics that are black, white, or any shade of grey, you can do yourself a favor by avoiding the appearance of link spam.

It's become very obvious that recent updates hit sites that had overly aggressive link profiles. The types of sites that were almost exclusively within what I called the "danger zone" in a post about one month before Penguin hit. Highly unnatural anchor text and low-quality links are highly correlated, but anchor text appears to have been the focus.

I was only partially correct, as the majority of cases appear to be devalued links rather than penalties. Going forward, the wise SEO would want to take note of the types of link spam to make sure that what they're doing doesn't look like a type of link spam. Google's response to and attitude towards each type of link spam varies, but every link building method becomes more and more risky as you begin moving towards the danger zone.

1. Cleansing Domains

While not technically a form of link building, 301 "cleansing" domains are a dynamic of link manipulation that every SEO should understand. When you play the black hat game, you know the chance of getting burned is very real. Building links to a domain that redirects to a main domain is one traditionally safe way to quickly recover from Google actions like Penguin. While everyone else toils away attempting to remove scores of exact-match anchor text, the spammers just cut the trouble redirected domains loose like anchors, and float on into the night with whatever treasure they've gathered. 

A cleansing domain for NFL jersies

When Penguin hit, this linkfarm cleansing domain changed from a 301 to a 404 almost overnight.

Link building through redirects should be easy to catch, as new links to a domain that is currently redirecting is hardly natural behavior. To anyone watching, it's like shooting up a flare that says, "I'm probably manipulating links." The fact that search engines aren't watching closely right now is no guarantee of future success, so I'd avoid this and similar behavior if future success is a goal.

2. Blog Networks & Poorly Executed Guest Blogs

I've already covered the potential risks of blog networks in depth here. Google hates blog networks - fake blogs that members pay or contribute content to in order to get links back to their or their clients' sites. Guest blogging and other forms of contributing content to legitimate sites is a much whiter tactic, but consider that a strategy that relies heavily on low-quality guest blogging looks a lot like blog network spam.

With blog networks, each blog has content with a constant ratio of words to links. It posts externally to a random sites multiple times, and with a lot of "inorganic" anchor text for commercially valuable terms. Almost all backlinks to blog networks are also spam. 

I cringe when I see low-quality blogs with questionable backlinks accepting guest blog posts that meet rigid word length and external link guidelines. Quality blogs tend not to care if the post is 400-500 words with two links in the bio, and quality writers tend not to ruin the post with excessive linking. Most of us see guest blogging as a white-hat tactic, but a backlink profile filled with low-quality guest posts looks remarkably similar to the profile of a site using automated blog networks.

I'd obviously steer clear of blog networks, but I'd be just as wary of low-quality inorganic guest blogs that look unnatural. Guest blog on sites with high quality standards and legitimate backlink profiles of their own.

3. Article Marketing Spam

Article link addiction is still a real thing for new SEOs. You get one or two links with anchor text of your choice, and your rankings rise. You're not on the first page, but you do it again and get closer. The articles are easy and cheap, and they take no creativity or mental effort. You realize that you're reaching diminishing returns on the articles, but your solution isn't to stop - you just need to do more articles. Before you know it, you're searching for lists of the top article sites that give followed links and looking for automated solutions to build low-quality links to your low-quality links.

Most articles are made for the sole purpose of getting a link, and essentially all followed links are self-generated rather than endorsements. Google has accordingly made article links count for very little, and has hammered article sites for their low-quality content. 

Ezine Articles SEO visibility

Maybe you're wondering how to get a piece of that awesome trend, but hopefully you'll join me in accepting that article directories aren't coming back. Because they can theoretically be legitimate, article links are generally devalued rather than penalized. As with all link spam, your risk of receiving more harsh punishment rises proportionate to the percentage of similar links in your profile. 

4. Single-Post Blogs

Ironically named "Web 2.0 Blogs" by some spam peddlers, these two-page blogs on Tumblr and Wordpress sub-domains never see the light of day. After setting up the free content hub with an article or two, the site is then "infused" with link juice, generally from social bookmarking links (discussed below).

Despite their prevalence, these sites don't do much for rankings. Links with no weight come in, and links with no impact go out. They persist because with a decent free template, clients can be shown a link on a page that doesn't look bad. Google doesn't need to do much to weed these out, because they're already doing nothing.

5. (Paid) Site-Wide Links

Site-wide footer links used to be all the rage. Google crippled their link-juice-passing power because most footer links pointing to external sites are either Google Bombs or paid links. Where else would you put a site-wide link that you don't want your users to click?

To my point of avoiding the appearance of spam, Penguin slammed a number of sites with a high proportion of site-wide (footer) links that many would not have considered manipulative. Almost every free Wordpress theme that I've seen links back to the creator's page with choice anchor text, and now a lot of Wordpress themes are desperately pushing updates to alter or remove the link. Penguin didn't care if you got crazy with a plugin link, designed a web site, or hacked a template; the over-use of anchor text hit everyone. This goes to show that widespread industry practices aren't inherently safe.

6. Paid Links in Content

There will never be a foolproof way to detect every paid link. That said it's easier than you think to leave a footprint when you do it in bulk. You have to trust your sellers not to make it obvious, and the other buyers to keep unwanted attention off their own sites. If one buyer that you have no relationship to buys links recklessly, the scrutiny can trickle down through the sites they're buying from and eventually back to you. 

If you do buy links, knowing what you're doing isn't enough. Make sure everyone involved knows what they're doing. Google is not forgiving when it comes to buying links.

7. Link Exchanges, Wheels, etc.

Speaking of footprints, I believe it's possible to build a machine learning model to start with a profile of known links violating guidelines, which you can acquire from paid link sites and link wheel middlemen with nothing more than an email address. You can then assess a probability of a site being linked to in that manner, corroborating potential buyers and sellers with a link graph of similar profiles. I have no idea what kind of computing/programming power this would take, but the footprint is anomalous enough that it should be possible.

Exchanging links through link schemes requires a lot more faith in a bunch of strangers than I can muster. In a link wheel, you're only as strong and subtle as your "weakest links." My opinion is that if you're smart enough to avoid getting caught, you're probably smart enough to build or write something awesome that will have superior results and lower risk than link wheels.

8. Low-Quality Press Release Syndication

High-quality syndication and wire services possess a few unattractive attributes for spammers: there are editorial guidelines, costs, and even fact checking. Low-quality syndication services will send almost anything through to any site that will take it. You'll end up with a bunch of links, but not many that get indexed, and even fewer that get counted.

My experience has been that press releases have rapidly diminishing returns on syndication only, and the only way to see ROI is to generate actual, real coverage. I still see link-packed press releases all over the web that don't have a chance of getting coverage - really, your site redesign is not news-worthy. I'm not sure whether to attribute this to bad PR, bad SEO, or both.

9. Linkbait and Switch

In this context, we're talking about creating a real piece of linkbait for credible links, and later replacing the content with something more financially beneficial. Tricking people into linking to content is clearly not something Google would be ok with. I don't see linkbait and switch done very often, but I die a little every time I see it. If you're able to create and spread viral content, there's no need to risk upsetting link partners and search engines. Instead, make the best of it with smart links on the viral URL, repeat success, and become a known source for great content.

10. Directories

Directories have been discussed to death. The summary is that Google wants to devalue links from directories with no true standards. Here's a Matt Cutts video and blog post on the topic. Directory links often suffer from a high out/in linking ratio, but those worth getting are those that are actually used for local businesses (think Yelp) and any trafficked industry directories.

  1. Would I pay money for a listing here?
  2. Are the majority of current listings quality sites?
  3. Do listings link with the business or site name?

If the answer to any of these questions is no, don't bother with a link. This immediately excludes all but a handful of RSS or blog feed directories, which are mostly used to report higher quantities of links. When I was trained as an SEO, I was taught that directories would never hurt, but they might help a tiny bit, so I should go get thousands of them in the cheapest way possible. Recent experience has taught us that poor directory links can be a liability.

Even as I was in the process of writing this post, it appears that Google began deindexing low-quality directories. The effect seems small so far - perhaps testifying to their minimal impact on improving rankings in the first place - but we'll have to wait and see.

11. Link Farms and Networks

I honestly can't speak as an authority on link farms, having never used them personally or seen them in action.

"I'm telling you right now, the engines are very very smart about this kind of thing, and they've seen link farming over and over and over again in every different permutation. Granted, you might find the one permutation - the one system - that works for you today, but guess what? It's not going to work tomorrow; it's not going to work in the long run." - Rand in 2009

My sense is that this prediction came true over and over again. I'd love to hear your thoughts.

12. Social Bookmarking & Sharing Sites

Links from the majority of social bookmarking sites carry no value. Pointing a dozen of them at a page might not even be enough to get the page crawled. Any quality links that go in have their equity immediately torn a million different directions if links are followed. The prevalence of spam-filled and abandoned social bookmarking sites tells me that site builders seriously over-estimated how much we would care about other people's bookmarks.

Sites focusing on user-generated links and content have their own ways of handling trash. Active sites with good spam control and user involvement will filter spam on their own while placing the best content prominently. If you'd like to test this, just submit a commercial link to any front-page sub-Reddit and time how long it takes to get the link banned. Social sites with low spam control stop getting visitors and incoming links while being overrun by low quality external links. Just ask Digg.

13. Forum Spam

Forum spam may never die, though it is already dead. About a year ago, we faced a question about a forum signature link that was in literally thousands of posts on a popular online forum. When we removed the signature links, the change was similar to effect of most forum links: zero. It doesn't even matter if you nofollow all links. Much like social sites, forums that can't manage the spam quickly turn into a cesspool of garbled phrases and anchor text links. Bing's webmaster forums are a depressing example.

14. Unintended Followed Link Spam

From time to time you'll hear of a new way someone found to get a link on an authoritative site. Examples I have seen include links in bios, "workout journals" that the site let users keep, wish lists, and uploaded files. Sometimes these exploits (for lack of a better term) go viral, and everyone can't wait to fill out their bio on a DA 90+ site. 

In rare instances, this kind of link spam works - until the hole is plugged. I can't help but shake my head when I see someone talking about how you can upload a random file or fill out a bio somewhere. This isn't the sort of thing to base your SEO strategy around. It's not long-term, and it's not high-impact. 

15. Profile Spam

While similar to unintended followed links on authority domains, profile spam deserves its own discussion due to their abundance. It would be difficult for Google to take any harsh action on profiles, as there is a legitimate reason for reserving massive numbers of profiles to prevent squatters and imitators from using a brand name. 

What will hurt you is when your profile name and/or anchor text doesn't match your site or brand name. 

car-insurance-spam-profile

"The name's Insurance. Car Insurance"

When profile links are followed and indexed, Google usually interprets the page as a user page and values it accordingly. Obviously Google's system for devaluing profile links is not perfect right now. I know it's sometimes satisfying just to get an easy link somewhere, but profile link spam is a great example of running without moving.

16. Comment Spam

If I were an engineer on a team designed to combat web spam, the very first thing I would do would be to add a classifier to blog comments. I would then devalue every last one. Only then would I create exceptions where blog comments would count for anything.

I have no idea if it works that way, but it probably doesn't. I do know that blogs with unfiltered followed links are generally old and unread, and they often look like this:

Followed blog comments

Let's pretend that Google counts every link equally, regardless of where it is on the page. How much do you think 1/1809th of the link juice on a low-authority page is worth to you? Maybe I'm missing something here, because I can't imagine spam commenting being worth anything at any price. Let's just hope you didn't build anchor text into those comments.

17. Domain Purchase and Redirect/Canonical

Buying domains for their link juice is an old classic, but I don't think I have anything to add beyond what Danny Sullivan wrote on the matter. I'm also a fan of Rand's suggestion to buy blogs and run them rather than pulling out the fangs and sucking every ounce of life out of a once-thriving blog.

Domain buying still works disgustingly well in the (rare) cases where done correctly. I would imagine that dozens of redirected domains will eventually bring some unwelcome traffic to your site directly from Mountain View, but fighting spam has historically been much easier in my imagination than in reality.

This list is not meant to be comprehensive, but it should paint a picture of the types of spam that are out there, which ones are working, and what kinds of behaviors could get you in trouble. 

Spam Links: Not Worth It

I have very deliberately written about what spam links "look like." If you do believe that black hat SEO is wrong, immoral, or in any way unsavory that's fine - just make sure your white hat links don't look like black hat links. If you think that white hat SEOs are sheep, or pawns of Google, the same still applies: your links shouldn't look manipulative.

I'm advising against the tactics above because the potential benefits don't outweigh the risks. If your questionable link building does fall apart and your links are devalued, there's a significant cost of time wasted building links that don't count. There's also the opportunity cost - what could you have been doing instead? Finally, clearing up a manual penalty can take insane amounts of effort and remove Google's revenue stream in the meantime.


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From Yosemite to Acadia: Free Passes for Military Families

The White House

Your Daily Snapshot for
Wednesday, May 16, 2012

 

From Yosemite to Acadia: Free Passes for Military Families

This year, as part of Armed Forces Week, we are offering all active duty service members and their dependents a free annual pass to more than 2,000 sites across the country, including National Parks.

From Yosemite to Acadia to the Grand Canyon, we are putting out a welcome mat for our military families at America’s most beautiful and storied sites.

Find out more about what we're doing to honor military families during Armed Forces Week:

VPOTUS and family at Grand Canyon

Vice President Joe Biden, with son Hunter Biden, and granddaughters Naomi, Finnegan, and Maisy Biden, on the South Rim of Grand Canyon National Park, Arizona, July 27, 2010. (Official White House Photo by David Lienemann)

In Case You Missed It

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

President Obama Congratulates the LA Galaxy
President Obama welcomes the LA Galaxy to the White House to congratulate the team on its 2011 Major League Soccer Cup Championship.

My First Job: Gene Sperling
Gene Sperling is the Director of the National Economic Council. His first job was as a ball boy, where he swept the court and cleaned up after the players -- and learned what makes you stand out as a great employee.

President Obama Pays Tribute to Fallen Police Officers
The President acknowledged and thanked the families of those who have fallen, and highlighted the courageous acts of those we lost.

Today's Schedule

All times are Eastern Daylight Time (EDT).

10:30 AM: The President holds a roundtable discussion with small business owners and SBA Administrator Karen Mills

11:30 AM: The President meets for lunch with Congressional Leadership

1:00 PM: Press Briefing by Press Secretary Jay Carney WhiteHouse.gov/live

2:00 PM: The Vice President delivers remarks at a campaign event

2:30 PM: The President meets with Secretary of State Clinton

3:10 PM: The President awards Specialist Leslie H. Sabo, Jr., U.S. Army, the Medal of Honor; The First Lady also attends WhiteHouse.gov/live

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

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SMX Advanced Tips & Takeaways | SMX London 2012

SMX Advanced Tips & Takeaways | SMX London 2012

Link to SEOptimise » blog

SMX Advanced Tips & Takeaways | SMX London 2012

Posted: 14 May 2012 07:41 AM PDT

Schema & Authorship: 1 Year Layer

  • Hresume in microformats http://t.co/SnqqVgph or schema job posting http://t.co/2yaFTRTf for positions, interesting!
  • Visit http://t.co/dxbvN0kT to find out when the next Google webmaster tools hangout is
  • Think of rich snippets as rich summaries, it must visible on the landing page.
  • Rich snippets are supposed to be short descriptions of the content on to the page, not a spam tactic
  • Google plus pages for publishers with rel=publishers to the publishers google plus page – ideal for Brands!
  • Authorship – use accurately for authors NOT publishers
  • Recommended tools: AWR, http://t.co/858pgSL8,
  • Recommended tool: seo tools for excel – quickly pull data without being a developer
  • 21% CTR without rich snippet versus 26% CTR with rich snippet in one test
  • SERP Turkey is a b testing tool with SERPs
  • Copy the schema and chuck it into the rich snippet tool by google
  • Schema and micro formats enrich our SERPs (or pollute?)

Hardcore Local SEO Tactics

  • RIP geo sitemap support
  • Be alert to google map maker when it launches in UK (soon… We hope)
  • Mobilize local heros &passionate supporters of your industry/product to translate ur brand/product into real world says @aleyda
  • Schema must be utilized for local content, use scheme creator or schema dentist
  • Flow of fresh and relevant localized content must push into real world with local badges for brick and mortar says @aleyda

© SEOptimise - Download our free business guide to blogging whitepaper and sign-up for the SEOptimise monthly newsletter. SMX Advanced Tips & Takeaways | SMX London 2012

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