luni, 21 iulie 2014

Seth's Blog : Finding your peer group

 

Finding your peer group

Your peer group are people with similar dreams, goals and worldviews. They are people who will push you in exchange for being pushed, who will raise the bar and tell you the truth.

They're not in your business, but they're in your shoes.

Finding a peer group and working with them, intentionally and on a regular schedule, might be the single biggest boost your career can experience.

       

 

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duminică, 20 iulie 2014

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


Video of Rebel Buk Launchers Headed Back to Russia? No - Images From Ukraine-Held Territory Since May

Posted: 20 Jul 2014 07:58 PM PDT

Update: The video clip I displayed earlier today was likely the downing of an An-30 last month not Malaysian flight MH17. Once again it is very difficult to sort through all the propaganda. Both sides are involved.

Jacob Dreizin, a US citizen who speaks Russian and reads Ukrainian provided this update three hours ago.
Hello Mish,

On Friday, the Daily Mail, one of the major UK tabloids carried photos and video of what was alleged to be a rebel "Buk" launcher heading back to Russia.  The article carried a claim from some Ukrainian source that the launcher was missing several missiles after having shot them at the Malaysian 777.  The article was prominently linked to the Drudge Report, and so was probably viewed by several million people.

Today, this meme made it into Uncle Sam's official narrative, as per the following New York Times excerpt:

On the CBS program "Face the Nation," Mr. Kerry referred to a video that the Ukrainians have made public showing an SA-11 unit heading back to Russia after the downing of the plane with "a missing missile or so."

The video referenced by the New York Times was, in fact, posted on the Facebook account of the Ukrainian Interior Minister. The allegation was that the launcher was crossing the border with Russia.

However, going by the billboard and other features of the scenery, Russian bloggers and news sources claim to have identified the road in the video as having been taken in or near the town of Krasnoarmeisk ("Krasnoarmiysk" in Ukrainian), which has been under Kiev's control since May.

In fact, the billboard is supposedly advertising a Krasnoarmeisk car dealership.  Also, one of the structures in the background is said to be a construction materials store on Gorkii Street, Krasnoarmeisk.

Please note that this town is (very roughly) 120 kilometers from the Russian border and 80 kilometers from where the Malaysian 777 went down.  And again, it has been under Kiev's control since May.

At least one other clip of the "Russian Buk" that has been made available also suggests that the Ukrainians are showing their own equipment. I'm still working on researching that one for you.

Jacob
Video in Question



It is beyond incredibly sloppy for Ukraine to release such a video with a clear billboard of something in Ukraine-held territory, purportedly showing a Buk missile launcher headed back to Russia.

And we are supposed to believe Kiev? Kerry?

Please be serious. If you are really interested in the truth, you do not resort to such easily disproved and sloppy bullsheet.

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

Update From Jacob Dreizin; Black Box Thoughts

Posted: 20 Jul 2014 09:21 AM PDT

Reader David sent an email and accompanying video that purportedly shows the Malaysian Flight 17 being hit by missile. Let's take a look.



David Writes ...

It appears as if the right engine and wing area took the hit. The camera operator is able to record the moment of impact in the first 2 seconds of this clip. Note the smoke burst left behind on impact with the #2 engine area. There is a 18 second delay (speed of sound delay) due to the distance and altitude of the explosion. Question: How did this video operator know to have his camera running just prior to the missile explosion? How many people run their camera in the sky looking for an airplane cruising at altitude so high that most are not visible to the human eye? Note that the pilots are maintaining wings level, the airplane and burning wing still intact, in what appears to be an uncontrolled descent from 33,000 feet when the video ends at 1 minute 19 seconds.

Mish comment. I am not sure if I can make out everything David says, or if it is indeed flight 17, but it is an interesting clip.

See Update Below - Video is likely an earlier  downing, not flight 17.

Update From Jacob Dreizin

Jacob Dreizin, a US citizen who speaks Russian and reads Ukrainian provided this update a few hours ago.

Hello Mish

This whole thing is a mystery of no lesser magnitude than that other Malaysia Airlines flight that disappeared in March. The true picture is even foggier than most people realize, with many questions unanswered.

Main Questions

  1. For unknown reasons, the flight diverted or was diverted from its usual course to fly smack over a tiny patch of land---of roughly 5000 square miles, or the size of Connecticut---controlled by pro-Russian rebels.  (In fact, the 777 went down a few miles from the geographic bottleneck where three desperate Ukrainian brigades are trapped between the rebels and the Russian border.)  Why?  And if this airspace had been closed by Ukraine (on July 8th), why was that closure never registered with international aviation authorities or coordinating bodies? 
  2. Russian media has quoted multiple Russian defense experts as saying that "Buk" missiles are designed to explode within several hundred meters of a target, sending between 50,000 and 100,000 pieces of shrapnel in all directions at supersonic (maybe hypersonic) speeds.  According to these experts, an aircraft met by a "Buk" would be instantly riddled with holes, and the wreckage would evince that type of damage pattern.  However, the few large pieces of Malaysia 777 wreckage that we have seen so far don't seem to fit the bill.  In that case, was it really a "Buk", or some other missile system?  (And if the latter, is it even worth arguing over whether the rebels have a "Buk"?)  Or was the plane not destroyed from the ground at all?
  3. Related to number (2), why were the Ukrainians so quick to say it was a "Buk"?  How would they know, within just minutes or an hour of the event?  Especially if both the alleged missile launch and the 777's coming down to earth occurred on territory not under their control?  And, why did they immediately (and wrongly) claim that 23 Americans were on board the plane?  Did they just make that up?
  4. On Friday, the Ukrainians claimed to have arrested two Russian officers who had helped with targeting to bring down the 777.  However, Kiev did not announce their names, nor the location of their arrest, nor did it provide any photographic or video evidence.  So who are these people?  Do they even exist?
  5. 23 minutes before the plane was first reported lost, the press secretary for Ukraine's national security council announced that the rebels had acquired a more potent air defense capability.  Later that same day or the next morning, Ukraine's chief prosecutor is reported to have said that the rebels don't have any "Buks."  What was all that about?
  6. The Russians claim that Ukraine recently moved an entire unit of "Buks" into the Donetsk region.  Ukraine has not denied that.  Given the fluidity of the front line, which is changing almost every day, how can Uncle Sam be sure that the launch he claims to have observed did not come from the Ukrainian side?  Moreover, if our spooks have the capacity to track such an event from the sky, why can't they produce any satellite pics of all the Russian military equipment coming over the border?  Do they really have a good eye on this area or not?  And last but not least, within a few hours of the plane being lost, there was already a claim in the media (I think it was CNN) that U.S. spy assets saw evidence of a missile being fired.  How can information like that move so quickly through the government and out to the press?
  7. Finally, on the purely domestic side, why has the U.S. media been referencing airliner shoot-downs in 1983 and 1988, but maintaining total silence about Siberian Airlines Flight 1812, which was downed by Ukraine in 2001?  Wouldn't Flight 1812 be at least somewhat relevant to the discussion?  It's very strange that it hasn't come up.

Ukraine Confiscated Air Traffic Control Recordings 

Yesterday, The BBC reported at 15:29: "Ukraine's SBU security service has confiscated recordings of conversations between Ukrainian air traffic control officers and the crew of the doomed airliner, a source in Kiev has told Interfax news agency."

Black Box Thoughts

Don't you think Ukraine ought to release those tapes? Regardless, the recordings should be in the black boxes.

And speaking of black boxes, I am reading conflicting information as to how many have been recovered, who has control of them, and where they are now.

The way to get the most information is if three separate parties have them: Ukraine, Russia, and an independent Agency.

Ron Paul Chimes In

Finally, please consider this reasonable message from Ron Paul: Don't Blame Putin For Malaysian Jet Shoot Down
The Texas Republican said that the fact that Russians may have provided the weapons to the Ukrainian rebels is not enough to put the blame on the Russian president.

"That may well be true, but guess what, ISIS has a lot of American weapons," he said. "We sent weapons into Syria to help the rebels and al-Qaida ends up getting it — it doesn't mean that our American government and Obama deliberately wanted ISIS to get American weapons."

"So who gets the weapons is a big difference between how they got them and what happened and what the motivations were," Paul added. "So even if it was a Russian weapon — doesn't mean a lot."

"It's pretty evident that the whole problem in Ukraine started approximately a year ago when the Europeans, along with the United States, overthrew an elected government and overthrew [former Ukrainian President Viktor] Yanukovych — insisting that there'd be civil strife over there," he explained.

The United States instituted sanctions against Russia Tuesday aimed at Russia's financial institutions and defense sector, which Paul considers "acts of war."

"They want to put on these sanctions, which are actually acts of war and the consequence is usually economic blowback," he said.

Paul says that we should approach the situation with the downed Malaysian jet "cautiously."

"Under these circumstances, it's very difficult to get the real information so everybody's angling to propagandize and make their position known," he said.

"It'd be unwise to say, well, the Russians did it, or the Ukrainian government did it, or the rebels did it."

We may not know for years the full story, or it may come out next week. Even if the rebels did it, why did Kiev direct that plane over a war zone?

Personal Update

I am in Glacier National Park, Montana (to be more precise, just outside the park). There is no phone or internet in the park. It can take 1 hour to do an email on the park satellite Wi-Fi. On this monitor I cannot tell exposures correctly.

St. Mary Falls



By the way, waterfalls and river gorges photograph best on cloudy days - bright overcast is best. Heading back to Chicago today.

Addendum: The video clip above is likely the downing of an An-30 last month not Malaysian flight MH17. Once again it is very difficult to sort through all the propaganda. Both sides are involved.

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

Seth's Blog : Go first

 

Go first

Before you're asked.

Before she asks for the memo, before the customer asks for a refund, before your co-worker asks for help.

Volunteer.

Offer.

Imagine what the other person needs, an exercise in empathy that might become a habit.

       

 

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sâmbătă, 19 iulie 2014

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


Argentina "Determined to Default" Second Time

Posted: 19 Jul 2014 10:34 AM PDT

Background: Argentina defaulted on bonds following a debt crisis in 2001-2002. 92% of the investors agreed to haircuts, but a vulture fund picked up an 8% share at rock bottom prices and refused to negotiate.

In June, the US Supreme Court ruled that Argentina Cannot Selectively Default on the small group of hold-outs.

The problem with the ruling is that if Argentina pays the vulture fund full value, it will have to pay all the bondholders full value, and that would wreck the country again.

In the future, bond agreements will force everyone to go along with a majority decision.

Second Default

For now, and as a direct consequence of the court ruling, Argentina "Appears Determined to Default", for the second time, on everyone.
A lead holdout investor in the Argentine debt dispute said on Friday that Argentina still refused to meet with it and negotiate a settlement before a July 30 deadline, after which the country faces a new default.

"The Argentine government appears determined to default. We hope it chooses to avoid this dead-end path," a spokesman for NML Ltd, a division of Elliott Management Corp, said in a statement. 
Dead-End Path

The Dead-End Path is failure to negotiate.  NML Ltd. put Argentina in a position where it would lose either way. Argentina now attempts (and I hope it finds a way), to pay the 92% while defaulting totally on the 8% so they never get a cent ever.

Unfortunately, all Argentina's efforts to circumvent the ruling eventually went through US banks or through other banks that will not accept payments only to the 92%.

At this point Argentina is stuck and will default on everyone.

Personal Note

I am in Glacier National Park, Montana (to be more precise, just outside the park). There is no phone or internet in the park. It can take 1 hour to do an email on the park satellite Wi-Fi. I return to Chicago tomorrow.

On this monitor I cannot tell exposures correctly. Hopefully these look OK. Color and exposure-corrected pictures will look much better.

Avalanche Lake



Avalanche Gorge



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

Seth's Blog : Two new videos

 

Two new videos

No content online is 'rare', but here are two presentations you might not have seen before:

...from the Maker Faire, and here's a speech I did last year at Nearly Impossible in Brooklyn:

Seth Godin | Nearly Impossible 2013 from Nearly Impossible on Vimeo.

       

 

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Equipping Workers with Skills Employers Need Now and for the Future

 
Here's what's going on at the White House today.
 
 
 
 
 
  Featured

Weekly Address: Equipping Workers with Skills Employers Need Now and for the Future

In this week's address, the President discussed the importance of ensuring that the economic progress we've made is shared by all hardworking Americans. Through his opportunity agenda, the President is focused on creating more jobs, educating more kids, and working to make sure hard work pays off with higher wages and better benefits.

This week, the President will visit a community college in Los Angeles to highlight the need to equip our workers with the skills employers are looking for now and for the good jobs of the future, and he will continue looking for the best way to grow the economy and expand opportunity for more hardworking Americans.

Click here to watch this week's Weekly Address.

Watch: President Obama delivers the weekly address


 
 
  Top Stories

President Obama on the Crash of Flight MH17

Yesterday, President Obama delivered a statement to the press in the wake of the tragic crash of Malaysia Airlines Flight MH17:

Malaysia Airlines Flight MH17 took off from Amsterdam and was shot down over Ukraine near the Russian border. Nearly 300 innocent lives were taken -- men, women, children, infants -- who had nothing to do with the crisis in Ukraine. Their deaths are an outrage of unspeakable proportions.

President Barack Obama delivers a statement on MH17

President Obama noted that this was "a global tragedy -- an Asian airliner was destroyed in European skies, filled with citizens from many countries." And as a result, there now needs to be a credible, international investigation into exactly what happened.

READ MORE

"Let's Build Some Bridges. Let's Build Some Roads."

Thursday afternoon, President Obama spoke about the importance of long-term investments in our country's infrastructure in front of Delaware's Interstate 495 Bridge.

President Barack Obama delivers remarks before he signs an executive action creating the Build America Investment Initiative.

President Barack Obama delivers remarks before he signs an executive action creating the Build America Investment Initiative during an event near the Interstate 495 Bridge at the Port of Wilmington in Wilmington, Del., July 17, 2014. (Official White House Photo by Amanda Lucidon)

We know that in the 21st century economy, businesses are going to set up shop wherever they find the best roads, the best bridges, the fastest Internet connection, the fastest rail lines, the smartest airports, the best power grid. First-class infrastructure attracts investment and it creates first-class jobs.

READ MORE

Barack-oli and Mich-room Obama-lette

The First Lady hosted the 2014 Kids' State Dinner today at the White House. Fifty-four winners were selected out of more than 1,500 delicious recipes -- one of those 54 recipes included the Barack-oli and Mich-room Obama-lette.

The President and First Lady talk about the Kids' State Dinner

President Obama also made a surprise visit and talked about the First Family's "pig-out indulgence food[s]."

"My big thing -- chips and guacamole. Basically, if there is a bowl of good chips and guacamole -- I lose my mind."

READ MORE

As always, to see even more of this week's events, watch the latest West Wing Week.


 

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Seth's Blog : Weight thrown and the slippery slope

 

Weight thrown and the slippery slope

Sometimes it's fun or profitable to throw your weight around, to get customers or partners or students or the media or even local government agencies to do what you need them to do.

Inevitably, weight throwers come to a fork in the road:

Are you doing this to get people to do what's good for them or what's good for you?

When a teacher uses her power to get students to study (not in their short-term interest, at least not right now), she's doing them a service.

When a retailer or manufacturer uses purchasing power and scale to bring a product to market that people weren't expecting, it's probably because the customers will end up delighted.

Any time an organization pushes to change the status quo on behalf of its mission, causing the change they exist to make in the world, they're building something that will last.

But often, the opposite happens. Organizations in power change their pricing or their technology or their policies because it's good for the organization, because it raises quarterly earnings, most often because it's easier for them. They change the way they do support, or the promises they keep to long-term customers and vendors. Often, the people who count beans are making the decisions, not those that count positive change on behalf of those they serve.

And it works. For a while. And then it doesn't, because even powerful organizations don't last forever, especially when those that have been pushed discover that they might just have other options.

Throw your weight around, please. But do it for those you serve, not against them.

       

 

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