Mish Shedlock Gives Out Blue Ribbon for Nuclear Hype

Mish Shedlock runs the Mish's Global Economic Trend Analysis Blog; one of my favorite blogs in the entire world and a blog that I read religiously everyday. Sometimes Mish really cracks me up too!


In a recent post, Mish has given out his blue ribbon for over the top hype and sensationalist reporting. From Popeye Comments on Reports from Japan Mish quotes from an article entitled, "Who are the Liquidators?":


The prime minister of Japan has said that his government is “not in a position where we can be optimistic” about the Fukushima Daiichi Nuclear Power Plant. 

The sensationalist writer goes on then to conclude:

Is there any logical conclusion to draw from that statement other than that a large chunk of Japan is going to be uninhabitable?


I can imagine Mish throwing his hands in the air in exasperation. He adds: 


There is no point in reading an article beyond such absurd hype. There are hundreds of logical possibilities and conclusions one might draw.

The first thing on my mind certainly would not have been that a "huge chunk of Japan was about to become uninhabitable".


I would have thought something along the lines "the Fukushima Daiichi Nuclear Power Plant is totally destroyed". However, I assumed that well over a week ago.

Note that the author did not even phrase his opinion as a "possibility" but rather as an inevitable "logical conclusion".

When you hit a sentence like that, you know the author is in competition for the blue ribbon for hype award. There is no point in reading further because the author has already completely discredited himself.


Mish is always incredibly informative and entertaining. Read more excellent commentary on Mish's Global Economic Trend Analysis Blog here.

Living in Japan Can be an Advantage for Investors!

The situation in Japan as of today, Feb. 19, 2011 is very uncertain. Japan's financial house is in serious disorder. Our debt is not sustainable. Rumors abound of the coming yen crash. The current prime minister of Japan has an approval rating of a mere 19.9% - a new low - and both the old-school political parties in Japan are teetering as they have been beaten in landslides in recent elections.


What's an investor to do to protect his/her self and their family? Well, incredible as it may seem, my good friend Mish Shedlock tells me that there's a great opportunity for those of us living in Japan to capitalize on this uncertainty.

Mish Shedlock

If the yen drops, and, in turn causes a huge rise in stock and precious metals prices, how can those of us living in Japan benefit?


In his blog of Wednesday, Dec. 22, 2010, Mish lays out Ten Economic and Investment Themes for 2011. About Japan, Mish wrote:


On a relative but not absolute basis I like the US. On a currency adjusted basis I especially like Japan. Here is a hypothetical example: Should foreign equities drop 20% and the US dollar strengthen 10% the loss to US investors would be 30%. Should Foreign investors buy US equities and face a loss of 20% and a 10% rise in the dollar, they would see a 10% loss. US investors of course would see the full 20% loss. Japan looks attractive in nominal terms but strengthening of the dollar compared to the Yen could negate some if not all of that. Equities in general, with the possible exception of Japan do not look attractive.


In a later article, Mish wrote about an Interactive Map of Global PE and Price to Book Ratios:

Except for Japan with a price-to-book value near one, with most corporate debt wiped off corporate books, I see little "absolute value" elsewhere.

The problem with Japan is the Yen. To invest in Japan one needs to hedge that Yen exposure or a declining Yen could wipe out most equity gains.

Aha! I see. So I can take advantage of the yen's problems because I am living in Japan!  I asked Mish to elaborate further and Mish was kind enough to add “Someone living in Japan with expenses in Yen and wages in Yen does not need to hedge Yen exposure as does someone outside Japan. A good currency hedge for someone in Japan, any country really, is gold.”

Mish mentioned that he is now in plays on Japanese equities, the Yen, and gold, adding “There are lots of opportunities in Japan and those opportunities should be easier to find and execute for someone living in Japan than someone living elsewhere.”

Now, do I ever feel better!

Thanks so very much to Mish Shedlock for the great insight. You can read much more at Mish's Global Economic Analysis Blog.

Genius Blogs and Get's 100's of Volunteers, Lawyers & Web Designers in 5 Days!

I've written before that I look up to Mish Shedlock as an inspiration as to how to write and run a no-frills but incredibly interesting blog. I sincerely think that anyone who is interested in blogging needs to check out his site. I think, Mish's Global Economic Analysis is one of the best 3 sites on the Internet! 


(Updates below) 

Currently, Mish is running a campaign, looking for volunteers, and he's gotten 100's of them in only a few days! That's astounding! 


Mish has been writing and blogging for years and he often updates his blog 3 times a day!  (I've done that, as a test, for 3 months straight in 2010 and let me tell you that that is a tough job!)


Mish does it consistently everyday and has been doing it for years. It is this kind of dedication that has built him a massive following. I bet he doesn't realize it, but he is an Internet marketing genius.


In a recent blog, Mish asked for volunteers to help him recall the governor of Illinois! No joke. Talk about taking on an almost impossible task! 


Yeah, well, maybe almost impossible, but if anyone could pull this off, it is Mish Shedlock.  


Mish is so dedicated and so well respected that when blogged about this campaign and asked for volunteers in only 5 short days he has gotten hundreds of volunteers. He has even gotten lawyers to volunteer!!! Now, that is amazing! I thought lawyers were cold-blooded sharks who only cared about cash in hand!




Last Sunday Mish wrote: 


I have exciting news this morning. I am launching a campaign to recall Illinois governor Pat Quinn.

This is not a frivolous effort. It is a serious undertaking and one in which I intend to see to the end. It will take hard work and lots of volunteers but we will be successful.

I need volunteers to ...

• Gather signatures
• Talk to state legislative representatives to get them on board
• Provide legal help
• Design a website
• Help with advertising

I will pay for website hosting and domain names.

We need to be successful because Governor Quinn has plans that will destroy Illinois.
Will You Stand Up To The Injustice?


There are many tasks to be performed and I will need volunteers from every county to gather signatures. I estimate we need about 520,000 signatures. My goal is to get 700,000.

If you can volunteer, time, web design, advertising, legal help, or any kind of general assistance, I would appreciate it.


The campaign seems to me to be doing fabulously. Today Mish added:


I wrote the above call to action post on Sunday. Since then I have had over 100 volunteers including 10 web designers, a lawyer, and numerous business owners. Work on a website is underway. I have secured the appropriate domain names. One business owner who employs about 100 people graciously volunteered services of his legal department.


Like I said, Mish is an expert at this. Not only is he an economic genius, he is a wizard at using the new media to get his message out. The proof is in the pudding. 


Of course, any good blogger needs good topics and Mish finds them all the time. This current campaign to recall the governor of Illinois is Mish's idea, but the absurd actions of the governor himself give a fertile mind like Mish's ton's of great ideas.


Get this: The governor of Illinois wants to raise personal income taxes 67%!


In Mish's own words; Tax insanity in Illinois is now official. Governor Pat Quinn signed off on a 67% hike in personal income taxes and a 46% hike in corporate taxes the moment the bill hit his desk.


Now Mish is working to recall the governor! 

Unnamed Illinois businessman's reaction to Gov. Pat Quinn's 

plan to raise personal income taxes by 67% 

and corporate taxes by 46%

I know this is serious business but I couldn't help laughing at the extreme stupidity of the governor of Illinois. If you are from Illinois, or live there currently, you won't find this funny at all... If you are in another state or country and watching this insanity from afar, then this is spectacularly hilarious! 


Mr. Governor, all I can say is that when the Japanese are laughing at you (unless you are a Hollywood stand-up comedian) then you have problems... Usually jokes don't translate well into other languages, but you are a joke that will be understood the world over! 


Read Mish's take on this tax hike here.


Thank God there's people like Mish running around! Go get 'em Mish. See more on Mish's campaign here! Volunteer if you can!


Update 1: I wrote this blog 12 hours ago. In the meantime, Mish has now gotten over 200 volunteers! 


Update 2: This message was sent to me by Mish himself:

Eddie & JoBo Show - WLS 890 - 8:05 PM Saturday - I 'm on Discussing Governor Quinn Recall

Mike,

I received an email moments ago from Eddie Volkman at WLS AM 890 Chicago asking me to be on for a live 18-20 minute segment tonight. The discussion will be on Governor Quinn, the tax hikes, how those tax hikes will impact the state of Illinois, and what we can do about it.

Hey Mike...

I'm Eddie Volkman from "The Eddie & JoBo Show" now on WLS-AM, 7-9pm Saturdays. Wondering if we could get you on with us to talk about your Quinn recall. The whole tax thing is obviously a huge topic right now and listeners are fuming. We'll be talking about it in the 7 o'clock hour tonight. Sorry for short notice but I came across your blog and it's quite intriguing! Thanks!

Eddie Volkman

Click here to listen live

Call in 312-591-8900
Or text "WLSAM" to 68683
or tweet to @wlsam890

Tune in, it should be fun.

Mike "Mish" Shedlock
http://player.streamtheworld.com/_players/citadel/?sid=1044