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Posts Tagged ‘Mish Shedlock’

The Daily BellOn January 1, 2012, I wrote the article, I call bollocks on the Daily Bell’s reported monthly page hits, in which I questioned the veracity of their claim that they “regularly receive upwards of 20-25 million hits a month.”

I documented how, since then, they shot the messenger as their Alexa ranking tanked. They claim that they had 17 million page views just for the month of June 2012, showing that their earlier 20-25 million hits claim likely wasn’t a typo.

I pointed out how Mish Shedlock’s site had a higher Alexa ranking — and still does — and his independent confirmation of readership numbers shows he had 21 million page hits for the entire year in 2011.

As for my page hits, independent confirmation is available from WordPress on my homepage, and anyone can track the daily numbers by tracking the cumulative page hits from day-to-day.

I provided a critical analysis of a recent article by the Daily Bell on tally sticks on my August 5, 2012 episode of Exposing Faux Capitalism.

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Image representing Alexa as depicted in CrunchBase

In their December 31, 2011 editorial, A Happy New Year and Many New Schemes!, Daily Bell founder and Editor-in-Chief, Anthony Wile, wrote:

First, allow me to wish all our readers and viewers a happy new year. This has been a year of growth for our modest publication, and we regularly receive upwards of 20-25 million hits a month.

It’s likely an honest mistake on their part, in saying month instead of year. However, I saw two comments on the number, and they responded, not indicating any realization that the number is definitely incorrect for the timeframe of a month.

There’s no way they are getting 20-25 million hits a month, as Mish Shedlock’s globaleconomicanalysis.blogspot.com site was ranked far higher by Alexa.com, in the 14,000th to 35,000th range in 2011, while the Daily Bell has fluctuated between the 30,000th to 100,000th range, and Mish’s stats show he had 21,262,533 page hits for all of 2011.

For more on The Daily Bell, see my articles:
1) Daily Bell interviewee Ingo Bischoff undermines their basis for a free market in money, saying such a thing doesn’t even exist
2) The Daily Bell, whose founder “continues to advise and consult to large international banks,” claims Zionism isn’t support for a Jewish homeland specifically in the biblical lands
3) Daily Bell interviewee challenges their Anglo-American narrative
4) The Daily Bell critically examines the Anglo-American establishment, yet what about some of their contributors?
5) Strange bedfellows: The Federal Reserve and The Daily Bell

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I’ve been a regular listener to prominent financial analyst, Mish Shedlock, ever since 2008. I find he has a lot of interesting things to say, and he makes his case very well.

That is, until I heard him call for outlawing all public unions, on Coast to Coast AM on April 22, 2010.

At 35:54 in the first hour mp3, he states: “I would be in favor, actually, of outlawing all public unions, for the simple reason no one’s taking the side of the public. These guys are supposed to be public servants. They’re not. They’re serving themselves.

Given the U.S. Constitution guarantees the freedom of association, a constitutional amendment would be required to restrict that freedom.

I’ve never been a member of a union — public or private. Nor have I been in a management relationship with a public union. Therefore, I feel I can comment more objectively than most who have been or are.

Regardless of how one feels about unions, I believe that freedom of association is a human right, and it is certainly constitutionally guaranteed in the United States by the first and ninth amendments. It is subject to certain limitations, such as during the open commission of a crime, lawful detention, being found guilty of a crime by pleading guilty, or being found guilty by a jury of your peers. Aside from that, any infringement of it requires a constitutional amendment.

The good news, from my perspective? There have been over 29,000 amendment proposals, according to Thom Hartmann,  and only 27 have been ratified to date — a 99.9% failure rate, due to the high bar set by the amendment process.

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On November 8, 2006, Michael “Mish” Shedlock was on Coast to Coast AM with George Noory, to give his economic forecast.

  • He said an inverted yield curve for U.S. treasury bonds (e.g. the 6-month bond had a higher yield than a 10-year bond did), and a decline in housing starts and permits was the best predictor of an impending recession. They have predicted an impending recession every time since 1959.
  • He correctly predicted that the U.S. would be in a recession in 2008. It officially started in December 2007.
  • Americans had a negative savings rate since 2005. By February 2007, Americans had a negative savings rate for 21 consecutive months.
  • He sold a 3-bedroom, 1-bathroom house in Danville, Illinois for $14,000. A friend of his said a comparable house in Washington, D.C. would have sold for around $200k.
  • By 2006, Japan had experienced 18 consecutive years of declining real estate prices.
  • The major Japanese stock exchange index, the Nikkei 225, went from a high of around 40,000 to a low of around 7,000. Specifically, a high of 38,957 on December 29, 1989 to a low of 7,021 on March 10, 2009 — a decline of 82% over nearly 20 years.
  • Japan had a central bank rate of 0.25%, which the U.S. central bank, the Federal Reserve, adopted in December, 2008.

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