Mish's Global Economic Trend Analysis

---

US Spends $1 Billion on Russian Helicopters for Afghan Military: Why? Posted: 08 Dec 2013 07:26 PM PST According to a top secret 2010 report the Russian-made Mi-17 helicopter is better then the US-made Chinook helicopter built by Boeing in Pennsylvania. Army Secretary John McHugh wrote in a 2011 memo "that the Mi-17 stands apart" when compared with other helicopters. Another study shows the Chinook was found to be "the most cost-effective single platform type fleet for the Afghan Air Force over a twenty year" period. This has the Christian Science Monitor and many others asking Why is US buying Russian helicopters for Afghan military? Higher Quality Questions I am not qualified to comment on which helicopter is better. Instead I want to ask a higher quality question: What the hell are we still doing in Afghanistan? We should have declared the war won 10 years ago and left. Better yet, we should not have gone there at all in the first place. Based on that simple logic, we should buy neither the Russian-made Mi-17 helicopters nor the Boeing Chinook for Afghanistan. Either way, I wonder if the real reason we bought Russian helicopters is fear for what happens to Chinook technology once we leave Afghanistan and the country falls to the Taliban once again. Regardless of "why" many important high-level questions remain. Open Questions In what ways does the top secret report show the Russian-made Mi-17 to be superior? If the Mi-17 is superior, how much money are we wasting on the Boeing Chinook program? How much money did we waste in Afghanistan? 13 years! Why? When, if ever, are we going to learn from such stupidity? Addendum: Here is the rationale for the Mi-17 There is no reasonable rationale for being in Afghanistan for 13 years  Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

Young Voters Would Recall Obama, Congress, If Possible; Only 18% Think Obamacare will Make Things Better Posted: 08 Dec 2013 12:54 PM PST The Washington Post reports Majority of youngest voters would recall Obama. Young people, who played a major role in putting President Obama in the White House in 2008 and keeping him there after 2012, now say they would vote to recall the president if given the chance. A new Harvard University Institute of Politics poll shows 52 percent of Americans between the ages of 18 and 24 say they would vote to recall Obama. Among young people aged 18 to 29, the number is 47 percent. I am not sure how the Washington Post calculated the first breakdown unless they had more access to the data. Let's head straight to the Harvard Survey of Young Americans' Attitudes toward Politics and Public Service. Here are some questions I found particularly interesting. 6. For whom did you vote for president in 2012? Barack Obama ................................................ 55% Mitt Romney .................................................. 33% Someone else ................................................. 4% Don't remember ............................................. 1% Decline to answer ........................................... 6% 7. If you could re-cast your 2012 vote for president today, for whom would you vote? Barack Obama ................................................ 46% Mitt Romney .................................................. 35% Someone else ................................................. 13% Decline to answer ........................................... 7% 11. Do you consider yourself to be politically engaged or politically active? Yes ............................................................. 22% No .............................................................. 75% Decline to answer ........................................ 3% 12. All in all, do you think things in the nation are...? Generally headed in the right direction .......... 14% Off on the wrong track ................................... 49% Not sure what direction country is headed in . 34% Decline to answer ........................................... 3% 13. Do you consider yourself to be a supporter of the Tea Party movement, or are you not a supporter of the Tea Party movement? Supporter ........................................................ 11% Not a supporter ............................................... 45% Not sure .......................................................... 41% Refused .......................................................... 4% 15. In general, do you approve or disapprove of the job performance of Barack Obama as president. Approve .......................................................... 41% Disapprove ..................................................... 54% Decline to answer ........................................... 5% Some questions were split between asking about "Obamacare" or the "Affordable Care Act". Answers were similar regardless of the term used. 23. Do you approve or disapprove of [The Affordable Care Act/Obamacare], the comprehensive health reform package that President Obama signed into law in 2010? A. The Affordable Care Act. (n=1,042) Approve .......................................................... 39% Disapprove ..................................................... 56% Refused .......................................................... 5% B. Obamacare (n=1,047) Approve .......................................................... 38% Disapprove ..................................................... 57% Refused .......................................................... 5%  24. Do you believe that your quality of care will get better, get worse or stay about the same under [The Affordable Care Act/Obamacare]? A. The Affordable Care Act. (n=1,042) Get better ........................................................ 17% Get worse ....................................................... 44% Stay about the same ....................................... 34% B. Obamacare (n=1,047) Get better ........................................................ 18% Get worse ....................................................... 40% Stay about the same ....................................... 37% 25. Do you believe that your amount you pay for care will increase, decrease or stay about the same under [The Affordable Care Act/Obamacare]? A. The Affordable Care Act. (n=1,042) Increase .......................................................... 50% Decrease ......................................................... 10% Stay about the same ....................................... 36% Refused .......................................................... 4% B. Obamacare (n=1,047) Increase .......................................................... 51% Decrease ......................................................... 11% Stay about the same ....................................... 34% Refused .......................................................... 4% 26. After implementation of [The Affordable Care Act/Obamacare], many Americans will be eligible to purchase private health insurance plans through government run insurance exchanges. If you are eligible, how likely are you to enroll in insurance through an exchange? [NOTE: If 18 to 25 include the clause "after you are no longer eligible to stay on your parents plan"] A. The Affordable Care Act. (n=1,042) NET: Likely to Enroll .................................. 20% Definitely will enroll ...................................... 8% Probably will enroll ........................................ 12% 50-50 .............................................................. 28% NET: Unlikely to Enroll .............................. 47% Definitely will not enroll ................................ 27% Probably will not enroll ................................. 20% Refused .......................................................... 5% B. Obamacare (n=1,047) NET: Likely to Enroll .................................. 22% Definitely will enroll ...................................... 9% Probably will enroll ........................................ 13% 50-50 .............................................................. 29% NET: Unlikely to Enroll .............................. 45% Definitely will not enroll ................................ 27% Probably will not enroll ................................. 17% Refused .......................................................... 5% 40. In May 2013, Edward Snowden, a contractor for the National Security Agency, started releasing classified documents to the media that demonstrated what he believed was an unethical collection of private data from US citizens by the US intelligence community. Based on what you know at this time,which of the following words best describes your view of Edward Snowden? A patriot ........................................................ 22% A traitor .......................................................... 22% Not sure .......................................................... 52% Refused .......................................................... 4% 41. If you found yourself in a position similar to that of Edward Snowden, would you release the classified documents to the media, or would you not release the documents? Release .......................................................... 15% Would not release .......................................... 31% Not sure .......................................................... 50% Refused .......................................................... 4% If you could choose to recall and replace various elected officials today, would you recall: 48. Your member of Congress. Yes ................................................................ 45% No .................................................................. 45% Refused .......................................................... 9% 49. All members of Congress. Yes ................................................................ 52% No .................................................................. 40% Refuse ............................................................ 8% 50. Barack Obama. Yes ................................................................ 47% No .................................................................. 46% Refused .......................................................... 7% 57. Do you have health insurance? Yes, my employer provides it ........................ 27% Yes, I am under 26 and covered by parents .. 35% Yes, I have an individual or family plan ........ 12% No, I am not enrolled in health insurance ...... 22% Refused .......................................................... 4% Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com  Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

You are subscribed to email updates from Mish's Global Economic Trend Analysis To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610