Central Perk: 6 mai 2013

luni, 6 mai 2013

Mish's Global Economic Trend Analysis

Senior Eurozone Official: "As Spain Goes, So Goes Slovenia"

Posted: 06 May 2013 12:37 PM PDT

The spotlight is once again on Slovenia. Olli Rehn, the European commission's economic chief is unhappy with economic progress in Slovenia and is threatening to put the country into an "excessive imbalances procedure" by the end of the month.

The problem is, Spain is in a similar "excessive imbalance" state prompting an unnamed eurozone official to state "As Spain Goes, So Goes Slovenia".

Please consider Brussels trains its sights on Slovenia.

The European Commission is being pushed to take a tougher line with Slovenia amid mounting concerns that infighting is hampering the country's ability to overhaul its banking sector and avoid becoming the next rescue target in the eurozone crisis.

According to two senior eurozone officials, concerns have focused on "non-cooperation" between Slovenia's finance ministry and central bank, which is responsible for supervising the financial sector. One of the officials said the central bank was being "obstructionist" towards the new government's clean-up efforts.

The central bank's role could prove particularly problematic because the three largest Slovenian banks – most in need of a rescue – are state owned, raising questions about the supervisor's ability to evaluate their needs impartially. "T

Concerns about Spain, however, are hampering the commission's decision. Madrid was formally warned about its economic imbalances last month and some believe it may not be possible to impose new controls on Slovenia without doing the same for Spain – a move that commission officials worry might spark wider market unease.

"As Spain goes, so goes Slovenia," a senior eurozone official said. The country has a governance problem of major proportions," the official added.

Backwards Statement

The senior official has things backwards. Here is the correct statement "As Slovenia Goes, So Goes Spain". And Slovenia is going the same way Cyprus, Ireland, Greece, and Portugal went.

There is no hope for Slovenia or Spain, at least inside the eurozone.

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

Nigel Farage Jubilant After UKIP Soars in Local Elections; Cameron's Impossible Carrot

Posted: 06 May 2013 10:45 AM PDT

Nigel Farage, Founder of the UK Independence Party, claims a "sea of change in British politics" as UKIP Makes Big Gains in local elections.

The UK Independence Party has made huge electoral gains and declared itself the "official opposition" - largely at the expense of the Tories - as Prime Minister David Cameron vowed to win back Conservative voters who had defected.

With UKIP averaging 26% of the vote in county council polls, leader Nigel Farage said he was "astonished" by the party's breakthrough, and put it down to what he described as the "total disconnect" between the "career politics" of Westminster and ordinary people on the streets.

Speaking in his Oxfordshire constituency, Mr Cameron said he would "work really hard" to win back voters who switched support.

Asked if he stood by his "fruitcakes" attack on UKIP, Mr Cameron said: "Well, look, it is no good insulting a political party that people have chosen to vote for. Of course they should be subject and they will be subject to proper scrutiny of their policies and their plans.

Cameron's Impossible Carrot

UKIP wants one thing right now and that is a yes-no vote on whether the UK should stay in the EU. So, it's very simple. All Cameron has to do is hold a referendum.

Instead he has promised a referendum only if he wins the next election for prime minister, and then only if he negotiates certain changes in the treaty that Europe is not going to go along with.

Thus, Cameron has attempted to satisfy UKIP with the pledge of a carrot that cannot possibly be won.

Earth to Cameron

Those voting for UKIP left the appropriate message that Cameron's blatant lie is unacceptable.

His promise to "work really hard" to win back voters has me wondering what planet he is on.

If Cameron is still in this solar system and still on planet earth, then he can prove it by putting the matter to a vote. And I am pretty sure how that vote would go: The UK will rightfully kiss the EU goodbye, shedding the shackles of the nannycrats in Brussels at long last.

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

Damn Cool Pics

Pharmacy in India
Unfortunate Uses Of Memes In Real Life
Japanese Woman Gets Plastic Surgery To Become A Living "French Doll"
Customer versus Merchant: Two Sides to a Chargeback [Infographic]

Pharmacy in India

Posted: 06 May 2013 12:12 PM PDT

How do they find anything in there?

Unfortunate Uses Of Memes In Real Life

Posted: 06 May 2013 11:43 AM PDT

Hey, you got it all wrong.

Japanese Woman Gets Plastic Surgery To Become A Living "French Doll"

Posted: 06 May 2013 10:09 AM PDT

A Japanese woman has undergone more than 30 cosmetic procedures and she won't stop until she becomes a living French doll. She said she has spent 10 Million Yen for the surgery.

Customer versus Merchant: Two Sides to a Chargeback [Infographic]

Posted: 06 May 2013 08:45 AM PDT

When your credit card gets stolen, you've obviously been the victim of a crime, but the merchant also has a price to pay as this infographic from Chargebacks.com shows. It isn't a perspective we often see but is particularly interesting as cybercrime becomes more and more common.

Click image to see a larger version

Via Chargeback.com

SEO Blog

Why Do Web Professionals Dislike SEOs?

Posted: 06 May 2013 03:28 AM PDT

Website design is a means of pleasure and profit for Web professionals. They enjoy transforming client's ideas into attractive, functional, user friendly websites. These websites reinforce brand identity for businesses, in so much that they are often referred to as "a web presence". Web professionals invest countless hours on their...
Read more »