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joi, 18 aprilie 2013
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Seth's Blog : Majora Carter and Josh Harnagane: leading underserved tribes
Majora Carter and Josh Harnagane: leading underserved tribes
Big tribes, rich tribes, tribes that change elections or root for sports teams get a ton of press. It's easy to imagine that all the slots leading these glamorous groups are already taken. While we might aspire to be the next Steve Jobs or John Stewart, we can fall into the trip of believing that these are roles are reserved for other people. And we're probably right. Leading the masses isn't a gig that comes along very often.
Josh Harnagane is standing up to lead a different tribe... His new book (out in May) chronicles his lifelong battle with Tourette's (and I use the word 'battle' carefully). This book is funny and poignant and brave, and it will inspire and connect millions of people who have previously felt uninspired and disconnected. It's fascinating to see that his fellow librarians (a different, but also underserved tribe), are lining up in droves to support his work. It's worth a read.
Majora Carter made a huge impact with her breakthrough TED Talk seven years ago, and since then has woven a tribe both inside and outside the South Bronx. Her passion is evident not just in her talk, but in the work she does every single day in pushing governments and corporations to recognize and work with previously ignored communities. The courage and audacity of the underserved can turn into a force for good, and more than that, can galvanize the tribe itself to achieve more than it thought it ever could.
Both Josh and Majora are in the business of shining a light and giving identity to tribes that many would prefer to remain invisible. They are outwardly focused, doing the work for the tribe they care about. The magic of the times we live in is that these opportunities are everywhere we choose to find them.
The key is understanding that while the general public can root for you and learn from you, the people you truly care about number in the thousands (or possibly millions) but they're not everyone. They're the people who matter to you. And you to them.
[Lots of free stuff and Tribes book info here.]
Where's your tribe? They need you.
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miercuri, 17 aprilie 2013
Just for You from YouTube: Weekly Update - Apr 18, 2013
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Mish's Global Economic Trend Analysis
Mish's Global Economic Trend Analysis |
- Is Australia Next in Competitive Currency Debasement?
- Muniland Disclosure Problem; Philadelphia's Closed-Door Two-Day Schmoozefest Backfires With Unwanted Publicity
- Deposit Leak in Southern Europe as Money Heads for Germany; Stress Indicators from Saxo Bank
| Is Australia Next in Competitive Currency Debasement? Posted: 17 Apr 2013 04:00 PM PDT Japan, the US, the UK, Switzerland, China, and even the EU with the LTRO (and upcoming hinted at rate cuts) are all in on competitive currency debasement. The question at hand is "who is next?" How about Australia? The Sydney Morning Herald reports RBA May Have to Cap Australian Dollar Ross Garnaut, one of the authors of the float of the Australian dollar 30 years ago, warns that the Reserve Bank might have to consider intervening to push the currency down to minimise the recession he sees coming as the mining boom goes bust.Interview with Ross Garnaut In case the above interview does not play, simply click on the link at the top. Mathematical Absurdity I would like one of these economic illiterates to explain how Australia can cap the Australian dollar when Japan wants to cap the Yen, when Switzerland wants to cap the Swiss Franc, when the ECB wants to cap the euro, when the US wants to cap the US dollar, when China wants to cap the yuan and the UK wants to cap the British pound. Competitive currency debasement mathematically cannot and will not work. Period. The only possible outcome is economic distortion, mispricing of capital, and sponsorship of more bubbles. Yet economic fools everywhere sponsor the idea. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
| Posted: 17 Apr 2013 12:17 PM PDT I received several emails regarding my post Philadelphia, 5th Largest City in US is Effectively Bankrupt; Mayor Holds Closed Meeting With Wall Street to Discuss Asset Sales. The emails were from disgruntled people hoping to leave the area for the usual complaints: unions, schools, crime. One reader sent a link to a Philly.Com article by Joseph N. DiStefano titled Philly effort to keep well-known troubles quiet wins new attention. Philadelphia's closed-door two-day schmoozefest with 100 bond underwriters and other would-be lenders keeps generating unwelcome publicity for the nation's brokest big (million+ resident) city.Muniland Disclosure Problem The link to Cate Long's article was broken (it may be fixed now as I notified DiStefano), but I traced it to Muniland has a disclosure problem. There is a glaring gap in regulation – called Regulation Fair Disclosure – when it comes to protecting municipal bond investors. It appears that issuers may be in the habit of giving material nonpublic information to preferred institutional investors, while making retail and non-preferred investors sit out in the cold. Exhibit number one is the treatment of media members who have petitioned to attend the City of Philadelphia bond investor day scheduled for this Thursday.My guess is Cate Long's guess is correct. By attempting to hide the facts and/or placate institutions, the city just made matters worse. DiStefano continues ... "Sam Katz, the former [muni bond] adviser who now chairs PICA, the state board overseeing city finances, said investor conferences were typically designed to permit candid conversation" between city officials and bond buyers and sellers:"You might want to say something to them that you don't want to say publicly."I had no particular focus in watching Philadelphia. I do now, and so do fellow bloggers thanks to the inept closed-door schmoozefest with mayor Michael Nutter. This is not a question of boring retail bond investors; it is simply a question of telling the truth, not making one set of statements to bond underwriters and another set of statements to retail investors. I do not play the muni bond market at all, long or short, but it's worth repeating that what happened in Stockton, California is not likely to stay in Stockton or even the state of California. It's time Philadelphia face the truth about what needs to be done. One-time selling of assets and closed-door meetings that give the appearance of hiding something is not even a start. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
| Deposit Leak in Southern Europe as Money Heads for Germany; Stress Indicators from Saxo Bank Posted: 17 Apr 2013 09:52 AM PDT Steen Jakobsen, chief economist at Saxo Bank in Denmark has some interesting "stress" charts in this week's email. click on any chart for sharper image European Demand Deposits  Steen writes: "Europe's depositors – mainly the weak Club Med states (Greece+ Portugal) continue to take money out of the country – even increasing the speed with which they do it." Steen sarcastically added "Sure Mr. Draghi, the ECB has been a great success. The shown data is only including January as IMF data is as slow as their willingness to accept changes. Imagine when March and April data is in." Recall that Draghi said there was no rush to exit following Cyprus. We will see soon enough. France Germany 10 Year Bond Spread  Steen writes "The 10 Year spread between France and Germany have totally lost value. The ECB and French government is forcing domestic players in France to buy government bonds due to regulation and pro-government incentive structures." "France and Netherlands are two economically challenged countries in the core of Europe which continues to perform dirigisme instead of attending to reforms." Dirigisme means economic planning and control by the state. Steen does not believe central planning works and neither do I. Copper  Steen writes: "I added Copper to my list of stress indicators (the first future). Copper is said to have a Phd in Economics as its normally leads the direction of the growth." Slovenia, the Next Big Thing  Steen writes "I have changed Denmark 5 YR CDS for Slovenia in order to monitor its rise to the next big thing in Euro debt crisis. Today the CDS spread fell due to good bond auction." Previously Steen had been comparing France to Denmark. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
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