Monday, November 14, 2011

Arizona recall vote energizes Democrats (AP)

PHOENIX ? Last week's recall election defeat of the Republican legislator who wrote Arizona's tough anti-immigration law and the seating of Democratic mayors in Phoenix and Tucson have given Democrats renewed hope for picking up the state in next year's Senate and presidential elections.

Combined, the outcomes underscored the diversity of voters in what many view as a conservative state even though voters here are split nearly in thirds among Republicans, independents and Democrats.

The Democratic Party argued that Tuesday's recall of state Senate President Russell Pearce was evidence of a broader shift to the left that will reverberate in 2012.

"For the first time in 20 years, we will have Democratic mayors of Tucson and Phoenix," state Democratic Party Chairman Andrei Cherny wrote in an email to supporters. "And for the first time in American history, a state legislative leader - the most powerful politician in Arizona - was recalled from office. These are victories for all Arizonans - ones that six months ago would have seemed all but impossible."

"A year from now, when we are looking back on Election Day 2012, we will point to last night as where things turned around for our party and state," he added.

Republicans dismissed Tuesday's results as coming from an "abnormal election" funded by out-of-state interests upset by Arizona's 2010 enactment of the groundbreaking immigration enforcement law known as SB1070.

"They thought this proved a point. It didn't," said Arizona GOP chairman Tom Morrissey. "It will all be undone in the next election. It was a power grab by the left. They won a battle, they have not won the war by any means."

But the rhetoric, new polls and the emphasis being put on Arizona by the Democrats and President Barack Obama's campaign indicates that the state ? which on the surface appears solidly red with its two longtime Republican U.S. Senators, a GOP near-sweep of statewide offices and one of the country's most conservative legislatures ? is heading into the 2012 elections solidly purple.

In the 2008 presidential race, Arizona was a given for home-state candidate John McCain, the Republican nominee.

And while Republican Gov. Jan Brewer was an easy winner in 2010, Democrat Janet Napolitano twice ran gubernatorial races in the last decade.

"I think that some on the East Coast don't put us there," said Cherny. "But every indication is we are there. The Obama campaign has said Arizona is at the top of the places they are looking at to compete very hard."

In 2012, Obama spokeswoman Ofelia Casillas said, the state will play a "critical role" and has been among the battleground states where its grassroots movement, Organizing for America, has been active. The campaign has also recently hired a Mexican-American regional field director and a Mexican-American fellow who is focused on reaching out to the Latino community.

Those efforts may find fertile ground in a state where Hispanics make up nearly 30 percent of the population.

A recent Rocky Mountain Poll from October showed Obama either about even or apparently ahead of three Republican presidential contenders: Herman Cain, Mitt Romney and Rick Perry.

The same survey also found that only 38 percent of the state's voters call themselves conservative. Thirty-four percent consider themselves moderate while 28 percent call themselves liberal.

"The impression of Arizona as a majority conservative state is more a reflection of gerrymandering and the historically superior strength of conservative forces in getting their voters to the polls," the Behavior Research Center said of the ideological splits.

Indeed, neither party holds a majority of the state's voters. Republicans hold a slight lead with roughly 36 percent of registered voters while roughly 33 percent are independent and 31 percent are Democrats.

The Behavior Research Center pollsters said the recall of Pearce, whom they called "the most powerful conservative voice in state government," may be a "harbinger of what can happen when voters in the center organize to get out their vote and make their election preferences felt."

Organization and appealing to mainstream voters more interested in solving problems than championing extreme politics and hot-button issues like immigration are the focus of the Arizona Democratic party, Cherny said.

In that vein, their hopes in the state's 2012 race for U.S. Senate may have been bolstered last week when Richard Carmona officially entered the race for the seat now held by retiring Republican Jon Kyl. The former surgeon general under President George W. Bush was aggressively recruited by Democratic leaders who hope he will appeal to the state's moderate and independent voters.

Carmona describes himself as a fierce independent and notes that Republicans in the past had also recruited him to run for office. He'll face lesser-known Don Bivens, an attorney and former state party chairman, in the primary, while U.S. Rep. Jeff Flake and businessman Will Cardon will battle for the Republican nomination.

Morrissey, the state Republican chairman, said Tuesday's vote only provides his party's activists with an incentive to work harder. And there's reason for optimism, he said.

"In the wake of all this we still face the same problems: immigration, jobs, education, the economy. It all happens to be tied together," Morrissey said.

___

Clausing reported from Albuquerque, N.M.

Source: http://us.rd.yahoo.com/dailynews/rss/democrats/*http%3A//news.yahoo.com/s/ap/20111113/ap_on_el_ge/us_battleground_arizona

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Rovio Opens The World?s First Angry Birds Store In Finland

Angry birds 2Look out, Sanrio. After dominating the mobile world for just shy of two years (haters be damned), Angry Birds is movin' on up into its own retail space. While Rovio plans on opening up shop in China (where the brand is huge, but next to all of the available merchandise is fake) sometime next year, this first store is on their home turf in Helsinki, Finland. It's got a massive slingshot!

Source: http://feedproxy.google.com/~r/Techcrunch/~3/EFvzsPS_zjw/

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Sunday, November 13, 2011

Beta Investing: How to Grow and Maintain Family Wealth

11/11/11 Paris, France ? We agreed to write a book on ?family money,? that is, on how families get and keep their fortunes over generations. We are completely unqualified to write the book, because our family never had any money. Still, it is a fascinating subject?and the more we look into it, the more we write about it, the more we come to understand what it is all about. It is not about ?safe, conservative? strategies. Instead, it is a manifesto for the most dynamic capitalism on the planet.

The rich are not like everybody else. They shouldn?t try to be. Most people don?t have any money. People who have money are different. If you want to have money, it stands to reason that you have to do things differently. It?s that simple. Especially if you want to have money for more than a single generation.

For example, everybody is trying to find the stock that will go up. They all want to be an alpha investor ? the big man on campus who puts his money into Google when it opened for business?or the guy who bought Berkshire Hathaway back in the ?70s. That?s the whole game, they believe?seeking alpha.

Alpha is what they call the above-market gains you can get by selecting the right stocks. But the trouble with alpha is that it is as unreliable as a teenage employee. You think you?ve got him all set?and he doesn?t show up for work. You choose one stock that goes up. Then, you choose two that don?t. And then you get a real nightmare stock?and you?re wiped out. Over the long run ? by definition and observation ? most alpha-seeking investors cannot beat the market averages.

But what choice do you have? You?re a typical investor. You?ve got 10 years to build up a small pile of savings into a retirement fund. You do your homework. You take your chances. You hope to get lucky.

If you did that for a long time, your successes and your failures would about balance themselves out. Sometimes you?ll beat the market. Sometimes the market will beat you. Provided you didn?t make any major mistakes. But you don?t have forever. You can?t get average, long-term performance. You don?t have long-term. You only get a piece of it?and you hope it will be the good piece.

A serious family, with a serious long-term wealth strategy, on the other hand, has to do something different. It knows that chasing alpha will give it only average returns over time. It knows that average, long-term returns are very small. It wants to do better than that. And it has time on its side. So, how can it do better? Not by chasing alpha at all. Instead, it goes after ?beta.?

A beta strategy is completely different. Instead of trying to beat the market you make the market your friend. You don?t try to beat it; you just want to join it. And go along with it. But you need to be careful to choose which market you join. You want the market that will take you to your destination. And you need to get aboard at the right moment.

We?ve explored this before?how you could have multiplied your money 150 times just by making three simple investment decisions in the last 40 years. And two of the decisions were exactly the same! Note that these are not alpha chasing decisions. These are beta decisions, choosing which market you want to be in?and waiting until the best possible time to get in.

So let?s go back. You know how Richard Nixon cut the dollar?s link to gold in 1971? It didn?t take much imagination to see what would happen next. Inflation rates would probably increase?and they would inevitably drive up the price of gold.

So, imagine that you started with $10,000. And in the early ?70s ? you had years of opportunity ? you bought gold. Just to keep the math simple, we?ll say you paid about $50 an ounce.

By the end of the ?70s your gold was shooting over $500 an ounce. You made 10 times your money. You were not sure what would happen next, but you read the paper. Paul Volcker, head of the Federal Reserve, vowed to crush inflation. He seemed serious. And by the early ?80s?it was beginning to look like he might win his battle against rising consumer prices.

Again, you didn?t have to have a Ph.D. in economics to realize that falling inflation rates wouldn?t be good for gold. On the other hand, they?d be very good for stocks or bonds. So, you made your second decision. You sold the gold and put the money into the stock market. Gold rose over $800, but let?s say you locked in your sale at $500?a ?10 bagger,? as they say. Again, you had plenty of time to make your move. The price of gold stayed over $500 from the end of 1979 until well into 1981.

The stock market took its sweet time too. But that?s the way beta investing goes. One decision. Lots of waiting. The Dow lollygagged around for five years after 1980 before it hit 1,500. So, let?s say you waited 5 years and bought at 1,500. Then, you waited again. Gradually, the Dow rose. And rose. And rose.

By the end of the ?90s, the Dow rose over 10,000. By January, 2000, it was over 11,000. Then, there were so many warning bells ringing you would have had to be deaf not to hear them. The Dow was up 1,000%. People were starting dot.com businesses with nothing. No business plans. No sales. No profits. They were making millions selling them to investors. Something had to give.

What should you have done? You should have made your third investment decision in 30 years. You should have sold stocks and bought gold again. Stocks were overbought. Gold was oversold. Adjusting for inflation, gold was down 80% to 90% from its ?80 high. Stocks were up 5 times, inflation adjusted, from their ?80 low.

If you?d done that you would have multiplied your money another 6 times. Your original $10,000 would have become $300,000. Then, in gold since 2000, you would have multiplied your money another 5 times ? for $1, 500,000.

But let?s say you missed the clanging bells in 2000s. You just held your stocks. In fact, after a brief drop, they continued to go up. The Dow eventually rose over 15,000 ? giving you a total of about $500,000 at the top. Not too shabby, right?

That?s what beta investing can do for you. That?s what the smart money, the old money, the family money does.

In any event, that?s what we try to do in our family office.

Regards,

Bill Bonner,
for The Daily Reckoning

Bill Bonner

Since founding Agora Inc. in 1979, Bill Bonner has found success and garnered camaraderie in numerous communities and industries. A man of many talents, his entrepreneurial savvy, unique writings, philanthropic undertakings, and preservationist activities have all been recognized and awarded by some of America's most respected authorities. Along with Addison Wiggin, his friend and colleague, Bill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. Both works have been critically acclaimed internationally. With political journalist Lila Rajiva, he wrote his third New York Times best-selling book, Mobs, Messiahs and Markets, which offers concrete advice on how to avoid the public spectacle of modern finance. Since 1999, Bill has been a daily contributor and the driving force behind The Daily Reckoning.?Dice Have No Memory: Big Bets & Bad Economics from Paris to the Pampas,?the newest book from Bill Bonner, is the definitive compendium of Bill?s daily reckonings from more than a decade: 1999-2010.?

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Source: http://dailyreckoning.com/beta-investing-how-to-grow-and-maintain-family-wealth/

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Saturday, November 12, 2011

Returning veterans now battle tough job market (AP)

CHICAGO ? Orlando Ocasio has a Purple Heart. What he needs now is a job.

As a member of the Marine Corps, Ocasio stormed Baghdad in 2003. A year later on his second deployment, he and his team were ambushed on their way to Fallujah, and he was shot in the leg and suffered shrapnel wounds. When he came home in 2004, he got a job at a factory making airline parts, earning about $42,000 a year. He bought a home in the suburbs and settled down with his wife, Monica, to raise their two young boys.

"Then the economy went down and I was laid off, and as soon as that happened we couldn't pay our mortgage, put food on the table," said Ocasio, 31, who has now been unemployed for two years and has suffered from post-traumatic stress disorder since the ambush.

"We were about 90 days from being homeless."

Ocasio joined the ranks of the 240,000 unemployed veterans from the Iraq and Afghanistan conflicts. Unemployment tops 20 percent among 18-to-24-year-old veterans, compared with a national rate of about 9 percent, Department of Labor figures show. And the situation is expected to worsen after 10,000 service members return from Afghanistan and 46,000 come home from Iraq by year's end ? many wounded or suffering from mental trauma.

A measure approved by the Senate on Thursday is aimed at helping unemployed veterans, by providing special tax incentives to companies that hire them and strengthening employment counseling and training programs. The House is expected to approve the bill next week, which would send it to President Barack Obama.

At the Humboldt Park Armory in Chicago, the chatter among men and women who have served was about the economy and the troops that are coming home to yet another battle, the job market.

"I am very concerned for all these troops," said Leroy Holland who spent most of his time on the John F. Kennedy battleship during the Vietnam conflict. "They will go through the turmoil of not feeling like they fit in, the hell of adjusting back to life and in an economy that is ruined. I feel bad for them."

While veterans from that era may see fewer benefits from the tax incentives and credits in the legislation, they have plenty of advice for veterans who are coming home to tough times.

"Please, please don't be shamed to ask for help, especially mental help," said 66-year-old Army veteran James Poriatis, who was injured in the Vietnam war. "We were all mostly ashamed after Vietnam, you don't have to be."

Ocasio, who suffers from anxiety and sleep problems, has been diagnosed with post-traumatic stress disorder. Since the ambush in 2004 he has felt distorted.

"Emotionally, physically I just have not been able to recover and here I am, at the VA, seven years later," he said while sitting in a small waiting room on the tenth floor of the Jesse Brown VA Medical Center.

With the help of a friend and government assistance in the form of disability pay, Ocasio is now living in an apartment in Chicago with his wife and two toddler sons. Monica, also a former Marine, is a full-time student and mother while Ocasio tries to recover fully from the war and looks for a job.

"We have friends who are on their third and fourth deployments, and they have children, but they don't want to get out of the military because they are afraid to come home and not have a job and medical insurance," Ocasio said. "There are a lot of scared soldiers."

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20111111/ap_on_re_us/us_coming_home_jobless

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Friday, November 11, 2011

Samsung outs pink Galaxy S II and limited edition Galaxy Tab 10.1, plays up battle of the sexes

While some manufacturers play coy with their gender marketing plans (*cough* the Rhyme *cough*), others make no pretense about pandering straight to the sexes. Cue Samsung with two distinct South Korea-only Android offerings for both guys and dolls -- a Galaxy S II painted in pink and a Lions special edition Galaxy Tab 10.1 for baseball fans. Sammy's issuing a limited production run of the popular Honeycomb slate to commemorate its team's Korea Series Championship win, and will pack an autographed ball and jersey in the box. As for that GS II in pinkalicious clothing, well, that's all you ladies are getting -- same beefy specs, same beefy screen and absolutely no charm dongle. These changes may be only skin-deep, but for the swag and style-obsessed alike, it's still nice kit if you can get it.

Continue reading Samsung outs pink Galaxy S II and limited edition Galaxy Tab 10.1, plays up battle of the sexes

Samsung outs pink Galaxy S II and limited edition Galaxy Tab 10.1, plays up battle of the sexes originally appeared on Engadget on Thu, 10 Nov 2011 07:07:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2011/11/10/samsung-outs-pink-galaxy-s-ii-and-limited-edition-galaxy-tab-10/

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Ancient lunar dynamo may explain magnetized moon rocks

Wednesday, November 9, 2011

The presence of magnetized rocks on the surface of the moon, which has no global magnetic field, has been a mystery since the days of the Apollo program. Now a team of scientists has proposed a novel mechanism that could have generated a magnetic field on the moon early in its history.

The "geodynamo" that generates Earth's magnetic field is powered by heat from the inner core, which drives complex fluid motions in the molten iron of the outer core. But the moon is too small to support that type of dynamo, according to Christina Dwyer, a graduate student in Earth and planetary sciences at the University of California, Santa Cruz. In the Nov. 10 issue of Nature, Dwyer and her coauthors -- planetary scientists Francis Nimmo at UC Santa Cruz and David Stevenson at the California Institute of Technology -- describe how an ancient lunar dynamo could have arisen from stirring of the moon's liquid core driven by the motion of the solid mantle above it.

"This is a very different way of powering a dynamo that involves physical stirring, like stirring a bowl with a giant spoon," Dwyer said.

Dwyer and her coauthors calculated the effects of differential motion between the moon's core and mantle. Early in its history, the moon orbited the Earth at a much closer distance than it does today, and it continues to gradually recede from the Earth. At close distances, tidal interactions between the Earth and the moon caused the moon's mantle to rotate slightly differently than the core. This differential motion of the mantle relative to the core stirred the liquid core, creating fluid motions that, in theory, could give rise to a magnetic dynamo.

"The moon wobbles a bit as it spins--that's called precession--but the core is liquid, and it doesn't do exactly the same precession. So the mantle is moving back and forth across the core, and that stirs up the core, " explained Nimmo, a professor of Earth and planetary sciences at UCSC.

The researchers found that a lunar dynamo could have operated in this way for at least a billion years. Eventually, however, it would have stopped working as the moon got farther away from the Earth. "The further out the moon moves, the slower the stirring, and at a certain point the lunar dynamo shuts off," Dwyer said.

Rocks can become magnetized from the shock of an impact, a mechanism some scientists have proposed to explain the magnetization of lunar samples. But recent paleomagnetic analyses of moon rocks, as well as orbital measurements of the magnetization of the lunar crust, suggest that there was a strong, long-lived magnetic field on the moon early in its history.

"One of the nice things about our model is that it explains how a lunar dynamo could have lasted for a billion years," Nimmo said. "It also makes predictions about how the strength of the field should have changed over the years, and that's potentially testable with enough paleomagnetic observations."

More detailed analysis is needed, however, to show that stirring of the core by the mantle would create the right kind of fluid motions to generate a magnetic field. "Only certain types of fluid motions give rise to magnetic dynamos," Dwyer said. "We calculated the power that's available to drive the dynamo and the magnetic field strengths that could be generated. But we really need the dynamo experts to take this model to the next level of detail and see if it works."

A working model of a lunar dynamo, combined with more detailed paleomagnetic analysis of moon rocks, could give scientists a powerful tool for investigating the history of the moon, Dwyer said. In addition, the study presents a novel mechanism for generating a magnetic field not only on the moon, but also on other small bodies, including large asteroids.

###

University of California - Santa Cruz: http://www.ucsc.edu

Thanks to University of California - Santa Cruz for this article.

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Source: http://www.labspaces.net/115063/Ancient_lunar_dynamo_may_explain_magnetized_moon_rocks

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