Tag Archives: Mish/ Mike Shedlock

Mish/ Mike Shedlock – Eurozone Falls Into Deflation; ECB About To Do Something Stupid – 8 January 2015

MishMikeShedlockAs expected, the Eurozone fell into deflation last month, but details show energy and unprocessed food are the only things in decline. Services are up 1.2%.

Please consider the Eurostat Flash Inflation Estimate for December 2014.

Euro area annual inflation is expected to be -0.2% in December 2014, down from 0.3% in November, according to a flash estimate from Eurostat, the statistical office of the European Union. This negative rate for euro area annual inflation in December is driven by a fall in energy prices (-6.3%, compared with -2.6% in November), while prices remain stable for food, alcohol & tobacco (0.0%, compared with 0.5% in November) and non-energy industrial goods (0.0%, compared with -0.1% in November). The only annual increase is expected for services (1.2%, stable compared with November).

Read the full story at: www.globaleconomicanalysis.blogspot.com / link to original article

Mish/ Mike Shedlock – Ruble Moves 25% Intraday; Bid/Ask Spread At Latvia Currency Exchange Goes Wild; Ruble A Buy? – 17 December 2014

MishMikeShedlockReader “Luke” from Riga, Latvia emailed an amusing image he took today of exchange rates at the Latvian currency exchange “Marika”.

Latvia is on the Euro.

Notes

  • Pērk means buy.
  • Pārdod means sell.
  • The bid/ask spread for euros to British Pounds (GBP) at this particular exchange is a hefty 4.7%.
  • The bid/ask spread for euros to Rubles (RUB) at this particular exchange is an amazing 43%.

Needless to say no one was buying rubles at that exchange.

Ruble Moves 25% Intraday

Continue reading

Mish/ Mike Shedlock – Stiglitz vs. Krugman On Scotland; Polls Diverge; New Fearmongering Tactics In Waning Moments Of Campaign – 15 September 2014

MishMikeShedlockNew Fearmongering Tactics

In the waning moments UK prime Minister David Cameron warns Scots “Leave and You Go Forever“.

Actually, the warning probably should be “Stay and you stay forever” because the UK will never allow such a vote again.

Regardless, no country should want to be under the thumb of another. Continue reading

Mish/ Mike Shedlock – SBU Cleans Website Of Bogus “Proof”; Mystery Of 312 Grows – 26 July 2014

MishMikeShedlockAn image from the Security Service of Ukraine (“SBU”) that purportedly showed a Buk heading back to Russia at nighttime, has now been removed from the site.

I made a screenshot of the image and posted it in Ukraine Caught in Third Major Lie? Magic Number 312.

The image once was at the bottom of this SBU page: Russia is trying to hide the evidence of his involvement in a terrorist attack in the skies over Ukraine. Continue reading

Mish/ Mike Shedlock – Ukraine Caught In Third Major Lie? Magic Number 312 – 23 July 2014

MishMikeShedlockI have strong evidence from Ukrainian citizen Anatoly Shary that Kiev is caught in a third major lie regarding Buk deployment.

It takes a while to go over the evidence, condensed below, all having to do with the number 312 painted on a missile launcher.

Follow the Number

On March 8, Censor.Net, a Ukrainian Nationalist cite, says “Ukraine Defends Donetsk From Russian Incursion: ‘Buk’ Air Defense Rocket Systems Are Taking Up Positions. PHOTO + VIDEO”

The sub-headline reads: “A resident of Gorlovka, driving to work in Soledar, came across an entire convoy of military equipment. …My coworkers and I counted 11 missile launchers …”

Read more at www.globaleconomicanalysis.blogspot.com/  link to original article

Mish/ Mike Shedlock – Holier Than Thou: Why Should Anyone Believe The US, Ukraine, Or Russia? What Is The US Attempting To Hide? – 22 July 2014

MishMikeShedlockI am quite tired of rhetoric from the Obama administration and Kiev regarding the situation in Ukraine. Hardly any of it is believable.

Indeed, some Ukraine propaganda efforts of Kiev are so amateurish they appear as sloppy acts of desperate coverups.

If so, then it is far more likely Ukraine is the guilty party, not the separatists. If you are innocent, you do not choose such tactics. Continue reading

Mish/ Mike Shedlock – Argentina “Determined To Default” Second Time – 20 July 2014

MishMikeShedlockBackground: 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. Continue reading

Mish/ Mike Shedlock – Paris to Tax Empty Offices at 20-40% of Rental Value; Price Crash On the Way – 9 July 2014

MishMikeShedlockThe ideas from France get nuttier and nuttier as time goes by. Via translation from Les Echos, please consider Paris Will Tax Empty Offices.

The Paris City Council approved Tuesday a tax on commercial vacant properties. The main objective according to city planners is to encourage the conversion of empty offices into housing, not to “create a new tax”. The city plans to tax owners of vacant commercial premises at 20% of the rental value of the first year, 30% the second, 40% the third year, from 1 January 2015.

Paris has 18 million square meters of office space, of which  6-7% is vacant, according to the deputy in charge of Housing Ian Brossat. The mayor of Paris, Anne Hidalgo, pledged during his campaign to get at least 200,000 square meters transformation of offices into housing during his term.

Price Crash On the WayWith this ruling, a price crash in office space lease terms as well as property values is a given. And if a mad dash for the exits ensues (as is highly likely), expect downward price pressures on rental values and condo prices as well.

Look on the bright side. Deflation is a good thing (but try telling any bureaucrats anywhere on the planet that story).

Mike “Mish” Shedlock
www.globaleconomicanalysis.blogspot.com / link to original article

Mish/ Mike Shedlock – Workers Handed Victory Over Unions: Supreme Court Rules Government Cannot Force-Unionize Workers Into State Entitlement Programs – 3 July 2014

MishMikeShedlockIn contrast to the highly ballyhooed but Much Ado About Nothing Supreme Court ruling on Obamacare, the court issued a far more meaningful ruling on forced unionization on the same day.

Paul Kersey at the Illinois Policy Institute explains by email:

The U.S. Supreme Court has issued a groundbreaking ruling today on the case of Harris v. Quinn. The court’s ruling states that state governments cannot force-unionize participants in state entitlement programs or force them to pay union dues as a condition of receiving help from the state.

The court’s 5-4 decision was in favor of the plaintiff Pam Harris, a mother from suburban Chicago who takes care of her disabled son and participates in a state Medicaid program. The justices ruled that Medicaid beneficiaries and people participating in state entitlement programs are not state employees, and cannot be forced into a union or forced to pay union dues.

For more than a decade, government unions have been forcing people who are not state workers – moms and dads caring for children with developmental disabilities, home day-care providers for low-income children and others – to pay dues to a union as a condition of receiving help from their state governments. Both Gov. Pat Quinn and now-disgraced former Gov. Rod Blagojevich issued executive orders allowing the unionization of people who were not state workers. This resulted in Illinois government unions making $20 million a year from these workers, many of whom never wanted to join or pay dues to a union in the first place.

Fortunately, today the U.S. Supreme Court has affirmed that plaintiff Pam Harris won’t have to jeopardize and limit her son’s care by being forced to join a union she does not want, agree with or support.

Paul Kersey
Director of Labor Policy

Victory!Kersey wrote a more detailed op-ed that appeared in USA Today: Workers Handed Victory Over Unions.

This victory is a big step in the right direction. Unfortunately the court did not make the final step of mandating national right-to-work practices and eliminating forced union dues altogether.

It should have. As Kersey explained in his op-ed…

The court could have gone further. Government union bosses want to organize as many people as possible — even those who aren’t government employees — because they can usually force the people they represent to pay union dues. Harris’ attorneys were hoping the court would rule that no government employee can be forced to pay dues as a condition of employment.

The court instead opted for a stern warning that unions have no business extracting dues from people who aren’t even employees. Union officials should take heed: the U.S. Supreme Court is putting more limits on mandatory union dues. Soon, the high court may rightly decide that forced dues are unconstitutional and do away with them entirely.

Congratulations to Pam Harris for her well-deserved victory over union thugs extorting payments from non-employees

Mike “Mish” Shedlock
www.globaleconomicanalysis.blogspot.com / link to original article

Mish/ Mike Shedlock – Looking To Drastically Reduce College Costs? Study Abroad! – 8 June 2014

MishMikeShedlockWhy go $40,000 to $100,000 or more in debt for a college education when studying in Europe will cost far less, possibly even be free, and you will pick up a foreign language or two in the process?

Please consider a response from reader Ivo in response to Co-Signing a Loan is Risky Business For You, Your Family, Your Heirs, Even the Borrower: More Student Loan Debt Slave Nightmares.

Ivo writes.. Continue reading