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Source: Dilbert

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Are we still falling for this crap? Apparently, all the GOP candidates believe that, a joke made by Will Rogers in the Great Depression that "money was all appropriated for the top in hopes that it would trickle down to the needy" (pg 184) What Will Rogers actually said, in context, was: They (Republicans) didn't […] The post Trickle Down Mythology Exposed appeared first on ValueWalk.

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Founding a startup today has become the stuff of TV and movies around the world.  There's even a startup podcast about, you guessed it, startups, that can provide twenty-somethings who were not too long ago eating Cheetos in their dorm rooms while guzzling red bull, the opportunity to brush the crumbs off their hoodies, break out their best Vans and ask billionaires for millions. But in Japan today, founding a tech company is not what you might call super popular.   Silicon Valley appreciates a good failure. The Japanese — not so much.  “People have the mentality of failure as not being an option. And if you fail, they will face social rejection,” says Toshi Yamamoto, CEO and founder of software company ChatWork. When he was launching his company while still in college, says Yamamoto, he was constantly questioned.  "All the time. They call me crazy – why do you do that? Why don’t you go to a large corporation? Or, why don't you work for the company?" he says. And while Japan’s prime minister Shinzo Abe is pushing hard to reverse the country’s economic slump, when it comes to tech and innovation, Japan is still behind — Especially reluctant, it would seem, to embrace the culture of start-ups. Imagine, says William Saito, special adviser to the cabinet of Japan and its prime minister, two moms of recent college grads. One from Stanford, and one from Tokyo University. The Stanford mom would be proud to say her kid was going to work at a startup. But if the Tokyo University mom found out her young grad was going to work at a startup, the attitude would be more along the lines of "Oh no, poor guy. He couldn't get in to Mitsubishi." Says Saito, "Factories are still humming ... the government works relatively well. Crime is relatively low." What's changed, he says, is "kind of a disease." The country has lost confidence, leading to less risk taking, fear of failure and ultimately, a lack of innovation. The Japanese place high stock on what's called enryo, or restraint and reserve, says Heather Russell, the American-born founder of Rinkya, a website that provides online auction services for Japanese sellers on Yahoo auctions which has trumped eBay to become the go to auction site for Japan. “The reason why we even exist," she says, "is because Japanese sellers refuse, most of them, to ship outside of Japan.” Instead, Russell’s company, Rinkya does it for them. “You don’t understand it – right? You cannot comprehend why they would not ship outside of Japan," she says. "In another country, it’s about, 'Ok, well, if you have the money we’ll go ahead and we’ll ship anywhere, we’ll do anything,'" she says.  But not in Japan. "You could offer them one hundred times the cost of an auction, which we have done before. And they’ll be like, 'Oh sorry, I don’t want my item leaving the country.'" She continues, "They might have a confrontation, or they might have a problem, and so they just would rather not enter the realm of that being a possibility than, ship outside of the country." Even teenagers in Tokyo, cultivating sulky looks and dyed hair, only smoke their cigarettes in designated smoking areas. Jaywalking is not cool. Trains are mostly silent — many riders are far too polite to talk on their cell phones. In Japan, you just want to fit in and avoid conflict. And that means not starting a company that could tank.   Smokers in Tokyo using a designated smoking area for cigarette breaks. Whether it's lining up politely for the subway or waiting for street lights to change (no jaywalking please!), the Japanese, at least in public, tend to be rule followers. (Sally Herships/Marketplace)     The cultural divide is so sharp that even new tech companies that do manage to make it off the ground can have trouble gaining traction with business partners more comfortable with Japan's  traditional ways of working. Says Arnab Gupta, an independent consultant for healthcare and social infrastructure, who's spent much of his working life traveling between Asia and the United States, "There's a difference in commitment,  and there's a difference in how fast things get done." Take the traditional Japanese business email. "It starts off talking about the season," says Gupta. "It goes on about all these other things," and after meandering on for quite a bit more, "Finally there's like one line that is topical, which is like the reason why the mail has been written." But, he notes, that lengthy electronic mail is a much less successful strategy in the startup workplace where preferred communication is much likely to be trimmer. And more akin in style to something along the lines, or line of, "Like yo, let's get this done fast." Then there's the issue of the level of dedication to the company expected from employees. Traditional companies, notes Gupta, will have dinner, or drinks in the evening, as well as other events and personnel will most likely be expected to attend. But again, different corporate strokes, for different folks. "I've seen cases where startup founders don't want to go to them," he says.  "They feel that it's perfectly fine to just call them up and say, 'I'm sorry, but I've got other things to do so I can't make it.' And the shacho, the president, will be like, 'Is that like a form of a dis?'" But, says Allan Bird, a professor of global business at Northeastern's  D'Amore McKim School of Business, despite all of this, it's important to note that Japan is highly entrepreneurial, just in its own way. “Within the context of a group,” he says. The Japanese, says Bird, like consensus — working together. So Japanese startups are more likely to occur from within the warm embrace of a big company with resources to share. Sharp Electronics began in 1912 with a snap belt buckle, then, in 1915, introduced the Ever-Sharp, a mechanical pencil. Nissan was spun off from a mining company.  All thanks to the power of the group.  "People misconceive — they think they do it as teams, but they're groups," says William Saito. "The Japanese are bad at team work," he says. "In team work, everyone is equal." Whereas in groups, "the communication and messaging is one way, very top down."   You can see the problem right at the source. Or, really, the source code. When programmers, working on those hot new apps, crunch out lines of text they include comments — sort of digital post-it notes meant to help team members navigate their way through all that Java or C++.  Even genius programmers from Stanford need collaboration in order to succeed. But in Japan, the willingness to do just that can be very tough to find. Instead of helpful messages, says Saito, comments left by a Japanese programmer, accustomed to working solo, may be more likely to send a message like "Do not touch this code or I will kill you." Notes Saito, "source code is very telling. You can the tell personality of a country this way. This is the one thing that is really holding back Japan." If you're a company and you know all this, instead, take advantage and make an entrepreneurial pivot. Change your strategy to adapt to the culture. If you can teach the Japanese to work in teams, he says, the Japanese will outdo you. But be prepared. There's kotoba no kabe, the language barrier. And then of course, there's venture capital; another problem that translates in any language. Notes Bird, starting a startup in Japan can be four times as expensive as in the U.S. And all of this culture and cash, or lack of it, leaves the country stuck in a kind of perpetual cyber-catch-22. "In part, there aren’t more startups because there isn’t more venture capital," says Bird. "And if you ask why isn’t there more venture capital, it’s because there aren’t more startups. You can see how that gets to be a problem."

Read more: Latest Stories on Marketplace.org

A beloved old-school bodega in Brooklyn called Jesse’s Deli recently got what you might call an artisanal makeover, complete with a carefully-curated inventory and expensive price tags. It's the kind of story you hear all the time these days in gentrifying neighborhoods. But this particular makeover came with a twist. "Artisanal Roach Bombs: $15.99,” read one of the signs that appeared on a store window this summer. It was advertising a can of Raid.  Another sign was for “House Cured Salami Tubes: $5.99 each.” That was for Slim Jims. And the “Grass Fed Himalayan Tuna Salad” being sold for $9.99 a pound? “There’s no such thing, actually,” laughed Ghassan Itayim, also known as Jesse, who founded the deli 25 years ago. The tuna salad he sells is just your basic tuna salad. But even though the silly upscale names for everyday products are a joke, Itayim said the inflated price tags price tags may as well be real. He calls the signs “serious and funny at the same time.” Itayim figures $15.99 for a can of Raid is about what he would have to charge to stay in business, if his rent goes up 250 percent—from $4,000 to $10,000. That’s the increase he says his landlord is planning now that property values are exploding in the neighborhood. Itayim’s landlord did not respond to Marketplace’s interview requests. She has said publicly that she offered Itayim under-market rent a few years ago, but negotiations broke down.  The rising rents, the struggles between tenants and landlords—they are familiar predicaments in many gentrifying neighborhoods. But the idea to turn it all in to public satire sprung from the brains of two loyal customers of Jesse's Deli, Doug Cameron and Tommy Noonan. They dubbed the stunt an “Artisanal Landlord Price-Hike Sale.” The ironic ad campaign and the spot-on copy came naturally to Cameron and Noonan. They both work in advertising. And as much as they love an old bodega like Jesse's Deli, Cameron said they also love some of the "artisanal" stuff their joke-signs mock. “The pro-artisanal folks — the hipster class, let's call it — are the ones certainly that are driving up the rents” in the neighborhood, Cameron said. “But at the same time, they're the ones who in many cases, really feel strong toward keeping these small businesses.”   The airBnBodega at Jesse's Deli gets its first customers. Doug Cameron  Gentrifiers helping the gentrified fight gentrification, by mocking themselves. It is all very meta. And it all seems to be working. Cameron and Noonan’s mock-signs have helped rally support for a proposal in New York City that would give more protections to small businesses in the face of big rent hikes. Meanwhile, the Itayim family is now working with a lawyer to find a way to stay the building.  And with the family’s blessing, Cameron and Noonan launched phase-two of their Save-the-bodega satire-campaign last weekend: Jesse's Deli has begun renting out its shelf space as lodging, on Airbnb.

Read more: Latest Stories on Marketplace.org

Disney is reportedly working on a deal to allow Netflix to stream five of the six previous Star Wars films in Latin America. The sixth film, the very first one, is owned by Twentieth Century Fox. The two studios already have a similar deal in place with the Chinese tech giant Tencent. Disney is gearing up for the Dec. 18 release of the latest Star Wars film in the franchise, "The Force Awakens." "The strategy ... to acquaint everybody ... in the franchise, is very smart," says Jeanine Basinger, professor of film studies at Wesleyan University. A major blockbuster movie needs a global audience, because foreign box office often makes up a majority of a film's gross.  Analyst Alexia Quadrani of JPMorgan says Disney is building up the Star Wars franchise, because the upcoming film will be just the first of many. "They've made these commitments for several of these films, and then further films from the offshoots of different characters from within the Lucas franchise," Quadrani says. Expectations for the films are high. By one estimate, "The Force Awakens" is expected to generate about $2 billion in global box office revenues.

Read more: Latest Stories on Marketplace.org

Anheuser Busch and SAB Miller currently dominate about 70 percent of the U.S. beer market. And they want to merge. The two companies would almost certainly have to sell off some pieces to cut down to size for regulators’ taste, but the merger would still create one monster-sized company. Take advertising. The two spend some $500 billion a year on sports sponsorships. In fact, beer is one of the biggest players in sports advertising. That's why the merger has some advertising agencies worried. Less competition among beer companies means they can advertise less. "They will have a lot more leverage in the marketplace," says Chris Pearlman, executive vice president with Van Wagner Sports and Entertainment. "Ultimately [they will] spend less than they would have had they remained separate."  United, the companies can also negotiate hard on sponsorship deals. "The teams are going to suffer too, because they're going to have less leverage to potentially play one beer off another," Pearlman says. Others aren't so worried. "Individual brands within these companies are treated as individual businesses," says Tom Haidinger, president of Advantage International. "They all go to market with their own marketing strategies and positioning." Then there's the audience for sporting events: male, aged 18 to 34. They watch their sports live, they don’t DVR games, so they can’t skip commercials, and they drink a lot of beer. Haidinger is betting that if the big beer companies don’t keep spending to reach them, other beer companies will.

Read more: Latest Stories on Marketplace.org

23 percent That's how much Volkswagen shares dropped on Monday following the company's announcement that it cheated on air pollution tests with illegal software in some of its diesel models. As Bloomberg writes, nearly half a million vehicles are affected by the violations, and as much as $18 billion in fines could be expected.  70 percent That's how much of the beer market is dominated by Anheuser Busch and SAB Miller. If the proposed merger between the two goes through, that's a lot of control for one company to possess. In fact, it has some advertising agencies worried — currently these two companies spend $500 billion a year on sports sponsorship. If there's less competition in the field, they might find less of a need to spend so much on advertising.  1500 burgers That's how many "peace day burgers" will be given away at a pop-up restaurant in Atlanta on Monday by Burger King. It's part of a Peace Day Campaign that has the company teaming up with Denny's, Wayback Burgers, Krystal, and Giraffas. As USA Today writes, the offer is part of a re-framing of the original plan, which was to partner with McDonald's to create a hybrid between the Big Mac and the Whopper. Unfortunately, an agreement couldn't be reached. $15.99 That's how much you'll pay for an "Artisanal Roach Bomb" at a bodega in Brooklyn called Jesse's Deli. For the record, it's not really artisanal — it's just a regular can of Raid. But actually selling the product for the inflated price isn't really the point. Owner Ghassan Itayim wanted to poke fun — and prove a point — about the rising rents businesses have to pay in neighborhoods that are rapidly gentrifying. Itayim's own landlord wants to raise his rent from $4,000 to $10,000.

Read more: Latest Stories on Marketplace.org

The prices of the metals moved up a bunch this week, with gold + $32 and silver +$0.55. We have seen some discussion of gold backwardation in the context of scarcity, and hence setting expectations of higher prices. That’s good, as the swings from contango to backwardation and back are the only way to understand changing supply and demand in the market. You should be cautious about trading yesterday’s news. There was indeed backwardation in gold and silver. However, the cobasis is a

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Syriza party leader Alexis Tsipras who resigned in the wake of his cave-in to the troika is back in office following Sunday's snap elections.The election was supposed to be extremely close, but it wasn't. Greek polls are notoriously unreliable. Tsipras won his first election by a huge vote even though polls were close. On Sunday the result was the same.Pollsters had New Democracy running neck-and-neck but in a low turnout Syriza received 35.5 per cent of the vote to 28 percent for New

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SDBullion is proud to introduce the world’s newest Official Investment Bullion Coin: the 2016 Silver Kangaroo! Struck with 1 troy oz of .9999 fine silver, secure your First Issue Year Silver Kangaroo Now at SDBullion!   Only $2.99 Over Spot, ANY QTY While Our First Allocation Lasts!     The post Perth Mint Joins Investment Bullion Market With Launch of 2016 Silver Kangaroo appeared first on Silver Doctors.

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With 60% of votes counted, Syriza is projected to be just short of a majority but the Independent Greeks have agreed to join a coalition....They expected victory, but not by this kind of margin. Projections now suggest that the radical left-wing Party Syriza will hold on to power in the Greek Parliament, and with almost enough seats for a majority.Only days ago, pollsters and pundits were predicting a tight-run contest, Syriza neck-and-neck with its conservative rivals, New Democracy. Instead, Syriza can comfortably form a coalition government with its previous partner, the nationalist
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As of today you really can pay your taxes, your credit cards, your mortgage, shop at Costco, and buy your groceries without so much as a bank account while using sound money. As PopularLiberty.com explains, The fact that Texas announced that it withdrawing its gold from Manhattan and is creating a state gold depository generated a good deal of interest because there would also be a way to transfer gold to others via said depository. So much interest that Texas received calls from all over the

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“It is true that income inequality has kind of gotten worse, but you can take the compensation of every CEO in America and make it zero and it wouldn’t put a dent into it. What really matters is growth. It’s not right to say we’re worse off … If you go back 20 years ago, cars were worse, the air was worse. People didn’t have iPhones.”   – Jamie Dimon A reminder...     Main Street "doing God's work" for Wall

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Submitted by Ton Chatham via Project Chesapeake, Gold and silver are good assets to hold to insure the preservation of EXCESS wealth but there are other assets that are even more valuable longterm. Those things that can be used to produce a product are the elements that can be used to leverage your time, resources and talents to produce wealth. The ability to produce excess is the basis of the need for wealth preservation. Physical goods in the form of equipment that can be used to create or

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US equity futures have retraced the late-day ramp from Friday with Dow down around 65pts. Asia is opening weaker (NKY -900 from Thursday highs) with EM FX appearing not to get the "but we didn't hike" message from The Fed with MYR the worst hit for now (after a few days of strength). EM outflows accelerated according to Morgan Stanley, down 6% AUM in 12 weeks. PBOC devalued the Yuan fix by 0.11% (the most in 2 weeks). While Fed uncertainty and fears about China have caused global

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It's probably the first principle of physics that you ever learned: Newton’s law, “What goes up must come down.” Now, after a decade of stratospheric growth, that time has come for China’s economy. China's growth rates have slowed as the government moves away from the low-end manufacturing, export-oriented model and attempts to create a sustainable […] The post Who Will Fill The Low-Cost Manufacturing Void? [INFOGRAPHIC] appeared first on ValueWalk.

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Authored by Ben Tanosborn, Pictures of migrant-exiles from the Middle East, not just Syrians but Iraqis and Afghanis as well, are currently being transmitted by CNN, Aljazeera English and other news giants to homes all over the world in customary repetition which most of us would agree exceeds the canons of proper news reporting.  Fodder news portraying human pain and misery are being presented to viewing masses, too often depicting unwarranted blame and/or lack of humanity from/by

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By Callum Thomas, MMgt (finance), MMgt (banking), BBS (finance), Investment Strategist of AMP Capital The unwinding of the commodity supercycle has returned Australian equities to a valuation discount vs global equities, which is grounds for becoming incrementally more positive on Australian equities vs global equities. Comparing the ASX 200 vs MSCI World equities (in local […] The post Australian equities vs global equities appeared first on ValueWalk.

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