The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

[Slimprofits]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

AUGUST 15, 2011, 10:42 AM ET
Survey: Small-Business Demand for Credit Still Soft

Only one third of small businesses in the New York region applied for credit in the first quarter, according to data released Thursday by the Federal Reserve Bank of New York.

The New York Fed’s quarterly Small Business Borrowers Poll suggests small firms still face hurdles to getting credit, and many companies are foregoing new borrowing until their balance sheets improve.

According to the survey, most applicants sought $250,000 or less in credit and applied for working capital rather than investment financing.

More applicants sought new credit products rather than renewing existing credit lines, but renewals had greater success. Overall, bank products were harder to obtain than non-bank financing, the New York Fed found.

The remaining two-thirds of small companies didn’t apply for credit. Among those not applying, 19% said they were paying down existing debt, 21% didn’t need financing and 27% thought they would be turned down.

[Slimprofits]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

Propaganda The Formation of Men's Attitudes (excerpts) By Jacques Ellul (1965)
worldcat library listing

worldcat library listing for 2004 reprint of Bernay's Propaganda
Bernay's The engineering of consent
Bernay's Crystallizing public opinion

EJ posted these links to the chatbox - Propaganda, by Edward Bernays. full text: http://www.historyisaweapon.com/defcon1/bernprop.html

and PDF here: http://sandiego.indymedia.org/media/2006/10/119695.pdf

[Chris Coles]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

I think you are being hard on EJ, but I agree with your basic premise. He definitely needs an editor. It distracts from the essays. His book was pretty 'clean', so he is capable of it. I find typos and missing words to be a huge distraction when reading. I hope he gives you the job.

Being confrontational and rude is hardly a starting point for a long term relationship built on mutual trust and respect. EJ simply needs a secretary that is both masterful with words and that he can work with and trust. As the language is English, I suggest he find someone from the UK.

[aaron]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

I think you are being hard on EJ, but I agree with your basic premise. He definitely needs an editor. It distracts from the essays. His book was pretty 'clean', so he is capable of it. I find typos and missing words to be a huge distraction when reading. I hope he gives you the job.

[c1ue]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

For me, this piece only reinforces my position, which includes not subscribing as a "select premium member." EJ doesn't seem to care to invest in either copyeditors or graphic designers to ensure comprehension. Seriously, some of these charts are so obtuse that they wouldn't even make it on the refrigerators of their creators' mothers.

Wow, this seems a prime example of not posting while drunk.

I have no doubt that EJ knows what he's talking about and what he means, but I defy anyone else proficient in the English language to discern exactly what he means.

The sentence in question is definitely overly long, but the whole point about iTulip is that you can ask for clarification from both EJ himself and others.

[Ellen Z]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

And some of the most powerful assertions can only be understood via great leaps of syntactic faith.

It’s true that readers sometimes have difficulty understanding exactly what EJ (and the other heavy hitters) intend to say. But I don’t think that’s primarily due to a lack of copy editing.

*** this is an ongoing conversation, and often folks refer to previous discussions in a kind of shorthand. They’ve already discussed a subject to death .... relative newcomers might benefit from a quick synopsis.

*** many of the people on the web site have significant financial and/or investing experience, and they use lots of professional jargon.

I’ve been a select subscriber since 2009, and I still feel very much a newbie. In spite of that, I find a great deal of value in the iTulip conversations. They’ve broadened my view of what investing can be, and introduced me to new tools. They’ve deepened my understanding of underlying social and economic processes, and offer a basic framework within which I can make my own decisions.

iTulip, like many financial websites, carries a disclaimer, "All information provided ‘as is’ for informational purposes only, not intended for trading purposes or advice." Unlike some of them, iTulip really means it. Oh yes, people do discuss their current investment strategies... it sort of leaks in around the edges. But iTulip is not your typical investment advisory service, and if that’s what someone expects, they will be disappointed.

A more basic function of iTulip is these "big picture" essays and comments that look at the entire economy and related social structures. Policy discussions take up significant space, and I find them valuable and interesting, but I don’t think that policy discussions are at the core.

My perception is, at the core of iTulip there’s an inquisitive six-year-old saying "gosh, this is a complicated world. What’s really going here?"

Given the difficult times we're living through, I appreciate having a better understanding of what’s really going on, and what possible options and choices lie ahead of us.

My current mantra for functioning on the iTulip website is: "I’m a bright person, I can understand 85% of this."

[bpr]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

Interesting piece, interesting comments. Turns out, not everyone gets it.

For me, this piece only reinforces my position, which includes not subscribing as a "select premium member." EJ doesn't seem to care to invest in either copyeditors or graphic designers to ensure comprehension. Seriously, some of these charts are so obtuse that they wouldn't even make it on the refrigerators of their creators' mothers.

And some of the most powerful assertions can only be understood via great leaps of syntactic faith.

Here's a really important sentence, I think:

The government borrowing that results in the extreme public sector debt levels that are alarming most Americans has become a do-or-die economic and money supply growth backstop needed to prevent economic collapse when the private credit markets peak in an economic cycle can no longer keep up the unsustainable growth pace.

I have no doubt that EJ knows what he's talking about and what he means, but I defy anyone else proficient in the English language to discern exactly what he means.

There may be a missing "that" between "cycle" and "can." That would solve the problem.

Maybe the "when" between "collapse" and "the private credit…" should be an "as."

Or the "in" between "peak" and "an economic cycle" should be "during."

Or "in an economic cycle" should be "when the economic cycle..."

As written, this sentence makes no sense, and, technically it doesn't even qualify as a sentence. In any interpretation, you're making a leap of faith as a reader.

One can rail on and on about the bullhorn and the mass media, but this kind of writing and (lack of) editing is going to NULLIFY everything he says about the mass media bastards. At least they can produce coherent sentences (usually, even if they're wrong you can understand them).

Also, this whole talk about cultural memes gets to me a bit. They've been around since at least Aristotle, who called them commonplaces.

A '90s venture capitalist and his editorial team should get these things right, or at least the name pets.com (anyone ever heard of pet.com before reading this article?).

I'm not even going to comment on the graphics, since most are so poorly constructed, and that is my area of expertise.

Seems to me that the problem is that the private sector won't invest in human resources, EJ/Itulip included.

Physician, heal thyself.

ps. graphic designer for hire.

EDIT: Oh yeah, I'll edit your stuff, too. But I have feeling you hate editors.

[Chris Coles]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

There is another aspect to take account of; this is not the moment for advice; but rather, for taking the time to watch and learn. So much SH one T is going to hit the fan over the next two years, there will not be anyone that can, for certainty, tell anyone else EXACTLY what will occur. We know roughly what is in process, the complete collapse of the FIRE economy. Our job is to hold our powder dry, keep our cards close to our chest and wait. When the dust settles, which it will, eventually, then there will be ample opportunity for everyone. MY 2c

[SamAdams]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

EJ has given much advice. Even more I'm sure in the paid area. If you haven't figured out what it is, you have not been paying attention. Once again I am sure Metalman can help here.

You are correct, he has given advice before. Let me rephrase. I am asking to stop the policy advice and stick to advice for the rest of us.

[thriftyandboringinohio]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

itulip is not, imo, a give-a-man-a-fish site. it's a teach-a-man-to-fish site. there is a lot advice flying around in these pages. think it over and do what you think is best. but in the meantime, there are millions of our countrymen enduring hard times. over 1 in 7 americans is now on foodstamps. it can't hurt to have some discussion of policy, if only to shed light on the disasters being perpetrated upon us by the powers that be.

Yup. As I follow and participate in the policy discussions I think about it deeply, giving me a basis for my decisions as I watch policies go better or worse towards my financial situation.

[jk]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

Frankly, as a so-called "American citizen", I don't care about this question any more. Just tell me what I need to do to as-best-as-possible avoid the damage done by the people trying to "fix the economy". I and others like me will be off living within more self-sufficient communities, and ask that the fixers leave us alone! As the past few years have shown us, chasing the illusion of aggregate economic growth does not necessarily improve the lives of most and justifies all kinds of criminality under the tyranny of the majority. I wish EJ would stop trying to tell TPTB how to correct their policy mistakes and start telling us how to keep our wealth safe! Did I miss that advice? Policy pontification is a losing battle and assumes good intentions from those making the policies. My $0.02.

itulip is not, imo, a give-a-man-a-fish site. it's a teach-a-man-to-fish site. there is a lot advice flying around in these pages. think it over and do what you think is best. but in the meantime, there are millions of our countrymen enduring hard times. over 1 in 7 americans is now on foodstamps. it can't hurt to have some discussion of policy, if only to shed light on the disasters being perpetrated upon us by the powers that be.

[cjppjc]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

Frankly, as a so-called "American citizen", I don't care about this question any more. Just tell me what I need to do to as-best-as-possible avoid the damage done by the people trying to "fix the economy". I and others like me will be off living within more self-sufficient communities, and ask that the fixers leave us alone! As the past few years have shown us, chasing the illusion of aggregate economic growth does not necessarily improve the lives of most and justifies all kinds of criminality under the tyranny of the majority. I wish EJ would stop trying to tell TPTB how to correct their policy mistakes and start telling us how to keep our wealth safe! Did I miss that advice? Policy pontification is a losing battle and assumes good intentions from those making the policies. My $0.02.

EJ has given much advice. Even more I'm sure in the paid area. If you haven't figured out what it is, you have not been paying attention. Once again I am sure Metalman can help here.

[SamAdams]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

[SIZE=4]The Big Bet revisited - Part I: Turkeys
Now that the primary engine of growth for the past 40 years, falling interest rates, has come to a grinding halt, how can productive enterprises be encouraged to drive the economy forward fast enough to allow the economy to exit the Output Gap Trap?
Full Disclaimer[/B]

Frankly, as a so-called "American citizen", I don't care about this question any more. Just tell me what I need to do to as-best-as-possible avoid the damage done by the people trying to "fix the economy". I and others like me will be off living within more self-sufficient communities, and ask that the fixers leave us alone! As the past few years have shown us, chasing the illusion of aggregate economic growth does not necessarily improve the lives of most and justifies all kinds of criminality under the tyranny of the majority. I wish EJ would stop trying to tell TPTB how to correct their policy mistakes and start telling us how to keep our wealth safe! Did I miss that advice? Policy pontification is a losing battle and assumes good intentions from those making the policies. My $0.02.

[KGW]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

They can't quite put their finger on the fact that, while the deaths of these young men are sad, they are simply soldiers of the legions of Rome. They did not make the "ultimate sacrifice" for US. Honoring them simply continues the "meme," if you will, that the U.S is pursuing an honorable path.

The only path the U.S. is on is one of desperation.

[Slimprofits]

Re: The Big Bet revisited - Part I: Turkeys grounded - Eric Janszen

occassionaly the truth slips out

This is what Cynthia Tucker said on MSNBC this morning about the Ames, Iowa straw poll. "Ames is inconsequential (re: the GOP nomination), but it helps the media create a narrative."