The Big Picture |
- Changes in US Household Labor-Force Participation by Household Income
- Robots Are Walking
- Apple vs. Exxon
- Masters in Business: Jim McCann, CEO 1-800 Flowers
- “Pulling Out All The Stops”
- 10 Wednesday AM Reads
- Dan Alpert: No economy is an Island
| Changes in US Household Labor-Force Participation by Household Income Posted: 19 Feb 2015 02:00 AM PST
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| Posted: 18 Feb 2015 04:30 PM PST |
| Posted: 18 Feb 2015 01:00 PM PST |
| Masters in Business: Jim McCann, CEO 1-800 Flowers Posted: 18 Feb 2015 09:00 AM PST
This week, the "Masters in Business" radio podcast features Jim McCann, the founder and chief executive officer of 1-800-Flowers. McCann is also the author of "Talk Is (Not!) Cheap: The Art of Conversation Leadership.” Starting with a single floral shop in Manhattan, McCann went on to transform what had been a sleepy retail industry into a national platform. He did so by embracing technology, first with 800 numbers, then with AOL, the Internet and finally mobile and social media.  |
| Posted: 18 Feb 2015 07:00 AM PST Cassandra Does Tokyo is an Investment Banker now relocated to Japan ~~~ Journos, observers, commentators, bloggers, traders, analysts, strategies, newscasters, reporters, and so it seems just about everyone else has a view on QE. And the result is overwhelminglyINTENSE. They’ve PULLED OUT ALL THE STOPS!!!!. No, not the ECB. I mean, anyone writing about the ECB’s announced policy actions.Below is an exhaustive (hyperbole?)list of the terms and associated language casually garnered from almost all the QE headlines and articles over the past few days. One could of course forgive any single instance of excitement, but in surveying the landscape, it’s clear something’s in the water. Especially in the United Kingdom (the nation with the highest and most pernicious sustained primary deficit, and a grand-canyon-sized CA gap – NB: intentionally exaggerated language) which is the source of most hyper-ventilative language (yes you guessed the Telegraph & Ambrose E.P. wins again). Even the usually-dry FT leapt on the bandwagon (sorry – OTT metaphoring is infectious), and sober BBC “joined the party” (drats!I did it again). Just have a look….unleashes triggers pushes-the-button on massive massive boost huge massive injects launches pump pull-trigger bang financial bazooka d-day salvo unfettered full-fledged shock & awe full-scale massive scheme finally long-awaited fatally exhausted deflation rescue revive save struggling back-door plummeting deep-division severe reservations wary slide teetering brink downward-spiral reluctance damage faulty disappoint fatally-weaken unimpressed questions flawed lambast stagnation underwhelmed wrong type tensions simmer inevitably fail deservedly fail last throw of the dice too-small-too-late won’t save will not solve unclear diminished uncertainty dangerously-close save-from-ruin Poor Draghi must feel like he’s been gang-raped. OK, so it’s “momentous”, unprecedented” blah blah blah. Really? Euro 1 trillion (including existing programs) over the course of a year across an economy sporting GDP > EUR14 Trillion; Net Assets> (I’ve no clue but’ll stake a stab…EUR 70 Trillion??)….hardly worth losing one’s integrity over, considering all the program’s practical limitations. As it happens, the Irish, and foreign obserservers writing in ENglish (India, Japan) were the most measured and least hyperbolic, using neutral language and refraining from the gratuitous ummm errr gratuitousness with words tethered to reality like. start Yes, the latter list is short…
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| Posted: 18 Feb 2015 05:30 AM PST Another lovely day in NYC — crisp sunny and cold. It might be warmer after you absorb our extra-strength morning train reads:
What are you reading?
When does the market expect the Fed to hike rates?  |
| Dan Alpert: No economy is an Island Posted: 18 Feb 2015 03:30 AM PST No Economy is an Island: A More Rigorous Look Under the Hood of the U.S. Economy Is it possible, in a global economy in which the United States' principal competitors are experiencing slow growth, disinflation or deflation, wage stagnation or slowing of wage growth, and slumping currencies relative to the US$, that the U.S. economy can be an island of relative prosperity unto itself? Can the level of global market interest rates, in the aggregate at historically low levels (some short term rates being, in fact, negative) be ignored? Or is something more serious amiss? Is the U.S. economy, so heavily dependent on consumption and exhibiting similar characteristics as its competitors (disinflation and anemic growth/reversals in many data points), really as healthy as equity markets seem to believe it is? ~~~~ The attached slide deck explains what is really going on under the hood of what appears to many to be a U.S. economy moving out of idle and into sustainable traction forward. Included in these 25 data-packed slides is research and analysis illustrating, numerous factors such as U.S. monetary policy, downward pressure on long U.S. Treasury bond rates, Disinflationary trends, etc. Daniel Alpert
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