Morgan Stanley On The Real European Story That Should Be Making You Depressed

Protest European Central Bank

Europe is taking it on the chin today, the culprit seems pretty clearly to be Silvio Berlusconi and Italy, where market sare getting crushed, thanks to his desire to return to politics, and Mario Monti's resignation.

It's debatable how big of a deal this is, really. Berlusconi has no chance of winning (per polls and pundits) and Monti was going to resign anyway, since elections are in the spring).

In his Sunday Start note, Morgan Stanley's Joachim Fels has a different story in Europe that's bringing him down. It doesn't get as much attention as the flashy headlines, but it has to do with Eurozone leaders backtracking on the bigger efforts towards integration and common regulatory frameworks.

Says Fels:

What really drags me down, though, is the European political saga. Don’t get me wrong: I continue to think that the internal economic rebalancing in the euro area is progressing, with the crisis countries having implemented impressive structural reforms and gradually regaining cost competitiveness. Also, the ECB’s OMT backstop, though not activated yet, has been effective in reducing spreads and buying time for governments to implement what they need to do if the euro is to be forever – move towards banking and fiscal union. But here’s the problem: governments are not spending the borrowed time wisely. Rather, I believe they are squandering it by backtracking on banking union and fiscal union. Even though the van Rompuy ‘Towards a Genuine Economic and Monetary Union’ report submitted to governments ahead of the EU Summit this coming week was thoroughly un- ambitious, in my view, Berlin immediately criticised it as being too ambitious. And whether European finance ministers at their December 12 special meeting on the eve of the EU Summit can really agree on how to cobble together a banking union remains to be seen. I’m not holding my breath any more.

The ECB seems to have realised that, once again, governments fail to deliver their part of the bargain. Maybe this explains the puzzling inconsistency this past Thursday between a significant downward revision in the ECB staff’s forecast for economic growth and inflation and the reluctance of the Governing Council to cut official interest rates. It seems as if the Council wanted to keep up the pressure on governments to deliver on banking union and a fiscal union roadmap this coming week. I’m not sure though that the message (if this was indeed the intention) will be heard in Europe’s capitals.

This has always been one of the problems with European crisis management. They do better when the heat is on and the market vigilantes are demanding answers. When peripheral borrowing costs are falling to one and two year lows, there's no rush.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/gifNpPNOTmk/morgan-stanley-on-eurozone-losing-ground-2012-12

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Lionel Messi Broke The All-Time Record For Goals In A Year With This Left-Footed One-Timer

Barcelona's Lionel Messi just set the all-time record for goals in a calender year with 86.

Gerd Muller had held the record since 1972, but Messi tied it with a goal in the 15th minute against Real Betis, and broke it less than ten minutes later.

He still has 20 days to go. Here's the video:

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Source: http://feedproxy.google.com/~r/businessinsider/~3/D2nJxC859lo/messi-goals-record-2012-12

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AD OF THE DAY: This Morning-After Pillow Gets Men Out Of Cuddling

Axe has come up with a solution to the morning-after cuddling that men (allegedly) hate so much: an inflatable arm and chest that smells like Axe.

The commercial seems like a parody, but it's actually real. Kind of. Axe is selling the morning after pillows, that come in skinny, body builder, tattooed, and hairy styles, on its Puerto Rican Facebook page.

The spot, created by DDB Latin America, says the "breakthrough" product was created to give men freedom from women who have fallen under the powerful Axe effect. Apparently, the effect is so intense that the woman in the commercial won't let go of her man -- even while he plays tennis. We've yet to see this effect for ourselves, unfortunately, but if Unilever says it, it must be true, right?

Related: AD OF THE DAY: What Happens When 2 Women Wear The Same Red Dress To A Party

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Source: http://feedproxy.google.com/~r/businessinsider/~3/Lvsx_HgVTLo/ad-of-the-day-the-axe-morning-after-pillow-gets-men-out-of-having-to-cuddle-2012-12

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Bike-Share Program To Finally Cruise Into NYC In May 2013

New York City is about to get a lot more mobile, which is welcome news to many residents who don’t own bikes but might want to grab one on the go. The city’s bike-share program will kick off in May ? a two-month delay due to Hurricane Sandy damaging equipment ? with around 5,500 bikes available (and 10,000 eventually) for … [More]

Source: http://consumerist.com/2012/12/07/bike-share-program-to-finally-cruise-into-nyc-in-may-2013/

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Zynga Applies For A Gambling License And Eyes New Revenue Stream

The agreement with Synacor will enable its users to access Zynga?s web page and play its games and use its platform and this service will start in 2013.

Source: http://www.forbes.com/sites/greatspeculations/2012/12/07/zynga-applies-for-a-gambling-license-and-eyes-new-revenue-stream/

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Learn The Value Of Canny House loan Research

There is certainly zero hesitation produce that propane is a wonderful long-term expense. We have actually peaked within our power to increase creation meaningfully, just as we now have with gentle essential oil. I do think in order for there to become an increase in long-term propane supply, you have to supply incentive to producers [...]

The post Learn The Value Of Canny House loan Research appeared first on legal debt help online.

Source: http://www.legaldebthelponline.com/2012/06/27/learn-the-value-of-canny-house-loan-research/

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The Growing Skills Gap, Explained In Three Charts

There's high youth unemployment around the world, despite a multitude of job vacancies.

Blame the skills shortage, which 39 percent of employers say is preventing them from filling entry level jobs, according to a McKinsey report. Meanwhile in most of the world, less than half of students think their educations prepare them for employment. 

Employers know what we're doing isn't working. Students know it as well. But educational institutions apparently don't, which may be preventing them from making needed changes, as this chart from a McKinsey survey indicates: 

Chart

While students prefer hands-on and on the job learning and feel it's more effective, even vocational schools don't always make it a priority: 

Pewpewpewpew

Finally, despite leaders and pundits praising vocational training, few parents want to send their own kids to those schools. McKinsey found that every surveyed country except Germany values academic paths over vocational ones: 

McKinsey

Solutions may require (1) educators changing their perspective, (2) employers investing more in training raise wages when skills are in short supply, (3) and societies changing some deeply held preferences.

Demand and demographic trends mean that unless we start those changes soon, the shortage of highly skilled workers will only increase.

NOW READ: Don't Complain About The Skills Gap If You Won't Pay Or Train Anybody

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Source: http://feedproxy.google.com/~r/businessinsider/~3/nj7IaYnTT6k/the-growing-skills-gap-explained-2012-12

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The Growing Skills Gap, Explained In Three Charts

There's high youth unemployment around the world, despite a multitude of job vacancies.

Blame the skills shortage, which 39 percent of employers say is preventing them from filling entry level jobs, according to a McKinsey report. Meanwhile in most of the world, less than half of students think their educations prepare them for employment. 

Employers know what we're doing isn't working. Students know it as well. But educational institutions apparently don't, which may be preventing them from making needed changes, as this chart from a McKinsey survey indicates: 

Chart

While students prefer hands-on and on the job learning and feel it's more effective, even vocational schools don't always make it a priority: 

Pewpewpewpew

Finally, despite leaders and pundits praising vocational training, few parents want to send their own kids to those schools. McKinsey found that every surveyed country except Germany values academic paths over vocational ones: 

McKinsey

Solutions may require (1) educators changing their perspective, (2) employers investing more in training raise wages when skills are in short supply, (3) and societies changing some deeply held preferences.

Demand and demographic trends mean that unless we start those changes soon, the shortage of highly skilled workers will only increase.

NOW READ: Don't Complain About The Skills Gap If You Won't Pay Or Train Anybody

Please follow War Room on Twitter and Facebook.

Join the conversation about this story »

Source: http://feedproxy.google.com/~r/businessinsider/~3/nj7IaYnTT6k/the-growing-skills-gap-explained-2012-12

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Half-Price Pizza for All: The Best Deals This Weekend

--> Domino's PizzaEvery Friday, we scan the weekly ads, deal sites and retailer marketing emails to find the best deals available for the coming week. Here are a few of the best freebies and limited-time offers we found.

? Through Sunday, customers who order their Domino's pizza online can get 50% off the pizza portion of their order. To get the deal, just order via the Domino's site and punch in the coupon code 50OFF. Note that the code can only be used on regularly priced menu items, which means that you can't get an additional 50% off the "two medium two-topping pizzas for $5.99 each" deal that the chain advertises so prominently. The code should be valid through Sunday.

? Gap (GPS) offers 30% off your entire purchase when you use the coupon code GAPWRAP. The deal is good through Sunday online and in stores, though there's a laundry list of exclusions -- it can't be used for cashmere items, nor for a variety of non-Gap brands, nor can it be used at outlet stores. See the site for full details.

? Target's (TGT) email subscribers got this coupon that gives you a $10 Target gift card when you make an in-store purchase of $50 or more. The coupon is good through Saturday only. If you don't feel like going through the whole process of activating Target's special printer program, the folks at FatWallet are hosting an easily printable PDF of the coupon on their site.

? Finally, Best Buy (BBY) is offering a deal on the Apple's (AAPL) iPhone 5: Buy any iPhone 5 from the retailer on AT&T, (T) Verizon (VZ) or T-Mobile (DT) and you'll get a $25 Best Buy gift card. If you buy online the gift card will be shipped to you; if you choose in-store pickup or just buy it in the store, you can get your gift card at the store. We're also seeing reports that Target and RadioShack (RSH) are offering all iPhone 5s for $20 off through Dec. 15; however, because those retailers don't sell the latest iPhone online, you'll have to check out your local store to get the scoop.

Matt Brownell is the consumer and retail reporter for DailyFinance. You can reach him at Matt.Brownell@teamaol.com, and follow him on Twitter at @Brownellorama.


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Source: http://www.dailyfinance.com/2012/12/08/half-price-pizza-for-all-the-best-deals-this-weekend/

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