I said "widespread demographic involvement" ?
Well, economically speaking that's inflation or deflation. The Fed should have no opinion on asset valuations unless they are measurably driving inflation of deflation.
The Fed is warning about the valuations of social media and biotech stocks.
That's silly, the Fed should should have no opinion unless there is a widespread demographic involvement.
The AG "irrational exuberance went into the history books as brilliant policy poetry but then the property
market asset bubble was missed and that could have been identified by the number of sub-prime mortgages issued. People that needed houses were buying houses but also people that didn't need houses were buying houses. And people were buying houses bigger than they could normally qualify for. But the idea of easily buying houses was everywhere because as many sub-prime mortgages as possible were being written. Interesting that the availability of sub-prime mortgages drove the demographic rather than the demographic driving the housing demand.
How is widespread demographic involvement identified ? I don't know but a small percentage of former internet investors hanging on to newly available social media stocks is not it.
The Dell Venue 11 Pro with mobile keyboard is about $540. That's a 10.1" screen. Office Home is included.
The HP 11t-h100 x2 is about $600. That's a 11.6" screen and a keyboard is standard.
Both of those computers are for low power usage rather than high performance.
I don't see it.
For instance, I don't need a thermostat that's connected to the internet. I just need a thermostat that takes into account the outside temperature and wind speed and that to set comfort levels. (Well, it could get that information using its own sensors or by connecting to the internet. But it can't afford to have its own internet connection but must use the house internet connection.)
And where is my house phone that uses my house internet connection ? Well, the house phone does the house internet connection but it requires extra and separate monthly costs.
The bottom line is that there is not going to be an "internet of everything" for the house unless it reduces the cost of telecommunications services that the consumer is being bombarded by.
Now, I could use a switch, up in the house, that turns the hot water heater on and off. But how does that need to be connected to the internet ? And I could use a switch on the mailbox to tell me if mail has arrived but how does that need to be connected to the internet ?
The iPhone is a thin-client and not a PC.
A thin-client mostly runs third-party applications by connecting to a website.
A PC can install third-party applications that run without a connection to a website.
A dual-core smartphone processor for Android ? How does that compete with ARM processors ?
But the business user might want voice cellular added to their quad-core 8" full Win 8 tablet. But no one is interested in anything except chasing I-Phone and Galaxy but which can't be beat anyway.
Quad-core 8" full Win 8 tablets for the business user ? Yeah, except that now they may be waiting for Win 9 and no one knows what MS is going to do since they don't know what to do. The first step is to say that the Metro interfaces and touch features are for tablets and convertibles only. The second step would be to go to a design studio and have the appearance of the Metro interface improved.
This whole situation has gone nowhere in two years time and there's nothing in sight for another several years. Well, except that some of the PC vendors did have some Win 7 promotions.
The Fed Taper in December began in January. Then the Fed Taper in January began in February. There is no February Fed meeting but just the minutes of the January meeting.
But no one expected that interest rates would rise before the end of QE. The interest rate hold is a non-event but indicates a continuing Taper.
The Fed is suggesting that interest rate increases will be based on inflation targets instead of employment targets.
That probably means that the Taper of QE will not be based on inflation targets and thus will continue since the employment targets are met.
The Taper begins. That means that the economy is good. But money comes out of emerging markets since the Taper means less money in circulation. The U.S. stock market goes down on the Taper which is less money in circulation, goes up on the better economy, and goes up on money leaving emerging markets. That's 2 out of 3 for up. (The stock market must be assuming that the most recent economic numbers are a temporary effect of winter storms.)
The Taper begins. That means the economy is good. But money comes out of emerging markets since the Taper means less money in circulation. The 10 year Treasury goes down on the Taper which is less government buying of Treasuries, goes down on the better economy, goes up on the effect of winter storms on the economy, and goes up on money leaving emerging markets. That's 2 out of 4 for up. (The bond market must be assuming that the most recent economic numbers are more than the effect of winter storms.)
Then emerging markets stabilize even while gold and Treasuries gain support.
The Fed Taper began. Emerging market currencies dropped. Gold was predicted to drop but didn't since emerging markets bought gold. Now the emerging market currencies have stabilized but gold keeps going up.
Also, the 10 year Treasury was predicted to drop with the Taper but didn't since emerging markets bought Treasuries. Now the emerging markets have stabilized but the Treasury is holding near highs.
There is a hint of deflation in Europe in the form of slowing inflation. There might be a hint of returning recession and deflation in the U.S. as the Taper begins but that may just be the effect of recent winter storms.
But why is the U.S. stock market up ? The Taper pulls money out of emerging markets. Yesterday, the stock market went up, the 10 year Treasury went up, and gold went up. But emerging market stocks are now also up !
The U.S. taper will slow ? Europe will begin stimulus ? And the Taper means that the economy is good while holding off means that there is government stimulus to continue.
A supercomputer couldn't figure this all out.
The simple solution would be that Win 8 is for tablets only.
And then how does someone try Win 8 on a tablet ? Well, the 8" quad-core Atom tablets got a lot of buzz during holiday shopping. At $299 then maybe try it as a travel PC. Except then they started talking about Win 9 and so just hold on to that $300. In fact the 8" Atom tablets only have a micro USB and so the 10" Atom tablets would be better. But a business user might want voice cellular added to their 8" Atom tablet and that hasn't happened yet either.
What's wrong with Win 8 on a desktop computer ? Well, if the computer user sits back than the mouse is a easy reach while the screen is not. The desktop computer doesn't need touch features and the touch features are overhead that use up computing resources.
And then here's something interesting. Who created the popular tablet in the first place ? (And that's the very first place where the tablet was popular.) Well, I think that I did. See, there was someone on the Yahoo programming forum developing a point-of-sale system for waiters and bartenders. I suggested using a touch screen with large icons and within six months they were everywhere. But see, the people using those point-of-sale computers are standing at the computer and the screen is an easy and natural reach. It often doesn't work for those sitting at a computer. There's an issue of ergonomics.
Gold is predicted to drop with the Fed Taper. And emerging market currencies are also predicted to drop with the Fed Taper. But recently when emerging market currencies dropped then gold went up. However, the emerging markets included trouble in Turkey and Argentina, included central bank news in Russia, and included loan tightening in China.
With emerging market currencies now stabilizing and with the Asia holidays ending, look for gold to pull back. (Copper imports to China are up since the physical copper can be bought with bank loans but the Chinese government is trying to cool off bank loans.)
Cash ? But which cash ? The Euro is near deflation. Russia is widening the float range of the Ruble. The Australian dollar is down with the ending of mine construction. The New Zealand dollar is up on earthquake damage rebuilding but that could be catching-up. (Both the Australian dollar and the New Zealand dollar are recently up even though China appeared to be slowing.) There are labor strikes in South Africa. The Mexican peso is tied to the emerging markets theme even though also tied to USA economic activity. The Yen wants to be down with Japanese QE but the Yen is an Asian safe haven currency. Oh, the USA dollar should rise with the Fed Taper.
There is no tablet versus PC. A tablet can be either a thin-client or a PC. It's thin-client versus PC.
Well, you say Win 8 devices but talk about full Win 8 on a PC. The Surface Pro is a PC and will install and run Photoshop Elements. The Surface is a thin-client and will only run third party applications by connecting to a website.
A MS executive said that the Surface wasn't correctly explained to the consumer. It makes not difference to say Surface 2 instead of Surface 1.
It's childish to call a Win 8 PC a Win 8 device. There is no Win 8 device that will do what a Win 8 PC will do. All the so-called devices must be differentiated since they do different things and have different capabilities.
Oh, the new CEO said Microsoft-devices not Win8-devices.
But what is a Win 8 device ? I think we're getting our science from the marketing department.
A Win 8 mobile phone will not run Photoshop Elements, a Surface will not run Photoshop Elements, but a Surface Pro will run Photoshop Elements. The Xbox will not run Photoshop Elements.
In fact an executive at MS recently said that the Surface wasn't explained well enough to consumers. But the new CEO is much more vague.
What is the science ? A mobile phone is a thin-client, a Surface is a thin-client, while a Surface Pro is a PC. And then a PC can install and run third-party applications that don't depend on a website connection while a thin-client runs a third-party application by connecting to a website. A PC, of course, can do both things.
He's already said Microsoft-devices and mobile-and-cloud. I haven't yet heard "touch".
The cloud is the IT service for companies. But when it's mobile-and-cloud that could be thin-client devices instead of PC's. See, a thin-client runs third-party applications by connecting to a website while a PC can install third-party applications. So mobile phones are thin-clients, the Surface is a thin-client, while the Surface Pro is a PC.
And so what he didn't say is "Intel Baytrail is revolutionizing the mobile PC form factor".
PSEC is a real interesting company. A BDC is allowed 30% wholly-owned businesses and they seem to be headed in that direction. Consumer loans, auto loans, and apartments.
But as the Taper continues, that's going to be less support for lower credit quality. The BDC's have good credit but the loans they make are lower credit quality and there will be less support for BDC's.