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	<title>Comments on: Not Winnie the Pooh!</title>
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	<link>http://www.ritholtz.com/blog/2009/05/not-winnie-the-pooh/</link>
	<description>Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media</description>
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		<title>By: FromLori</title>
		<link>http://www.ritholtz.com/blog/2009/05/not-winnie-the-pooh/comment-page-2/#comment-167324</link>
		<dc:creator>FromLori</dc:creator>
		<pubDate>Sun, 03 May 2009 01:20:48 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=25398#comment-167324</guid>
		<description>Poor Pooh is he right to worry the WHO said all of humanity is at risk well if he lives he will have to try to find a forecaster like this...

The following is from the Annual Report from 2008 for Tamiflu.  There was a prediction for a 531% sales increase for 2009 wow these people are good I can only imagine the skill it takes to make such a bold prediction (who is doing the forecasting a psychic?) see page 6...

FY 2009 Outlook

Increased Sales and Income Expected in FY 2009

Due to Higher Sales of Growth Drivers

In FY2009, we expect revenues of ¥400 billion, up 22.4%

year-on-year, driven by further growth of our major

products. We project a 7.6% increase in product sales

excluding Tamiflu to ¥337.3 billion.

For the year, we forecast sales of Tamiflu to reach ¥53.0

billion, up 531.0%, due to expected resumption of government

stockpiling in FY2009 and the ongoing recovery

of the prescription rate for seasonal influenza.

http://bluelori.blogspot.com/2009/04/all-of-humanity-is-at-risk-says-who.html</description>
		<content:encoded><![CDATA[<p>Poor Pooh is he right to worry the WHO said all of humanity is at risk well if he lives he will have to try to find a forecaster like this&#8230;</p>
<p>The following is from the Annual Report from 2008 for Tamiflu.  There was a prediction for a 531% sales increase for 2009 wow these people are good I can only imagine the skill it takes to make such a bold prediction (who is doing the forecasting a psychic?) see page 6&#8230;</p>
<p>FY 2009 Outlook</p>
<p>Increased Sales and Income Expected in FY 2009</p>
<p>Due to Higher Sales of Growth Drivers</p>
<p>In FY2009, we expect revenues of ¥400 billion, up 22.4%</p>
<p>year-on-year, driven by further growth of our major</p>
<p>products. We project a 7.6% increase in product sales</p>
<p>excluding Tamiflu to ¥337.3 billion.</p>
<p>For the year, we forecast sales of Tamiflu to reach ¥53.0</p>
<p>billion, up 531.0%, due to expected resumption of government</p>
<p>stockpiling in FY2009 and the ongoing recovery</p>
<p>of the prescription rate for seasonal influenza.</p>
<p><a href="http://bluelori.blogspot.com/2009/04/all-of-humanity-is-at-risk-says-who.html" rel="nofollow">http://bluelori.blogspot.com/2009/04/all-of-humanity-is-at-risk-says-who.html</a></p>
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		<title>By: Credit Debt Report &#187; Blog Archive &#187; Ritholtz on H1N1 (wonderful)</title>
		<link>http://www.ritholtz.com/blog/2009/05/not-winnie-the-pooh/comment-page-2/#comment-167319</link>
		<dc:creator>Credit Debt Report &#187; Blog Archive &#187; Ritholtz on H1N1 (wonderful)</dc:creator>
		<pubDate>Sun, 03 May 2009 00:30:19 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=25398#comment-167319</guid>
		<description>[...] Found on the wonderful Big Picture blog. [...]</description>
		<content:encoded><![CDATA[<p>[...] Found on the wonderful Big Picture blog. [...]</p>
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		<title>By: wunsacon</title>
		<link>http://www.ritholtz.com/blog/2009/05/not-winnie-the-pooh/comment-page-2/#comment-167225</link>
		<dc:creator>wunsacon</dc:creator>
		<pubDate>Sat, 02 May 2009 15:37:15 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=25398#comment-167225</guid>
		<description>ahab, that&#039;s a good plan.  (I&#039;m envious...I need a time machine, damn it!)  Good luck to your son.</description>
		<content:encoded><![CDATA[<p>ahab, that&#8217;s a good plan.  (I&#8217;m envious&#8230;I need a time machine, damn it!)  Good luck to your son.</p>
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		<title>By: call me ahab</title>
		<link>http://www.ritholtz.com/blog/2009/05/not-winnie-the-pooh/comment-page-2/#comment-167190</link>
		<dc:creator>call me ahab</dc:creator>
		<pubDate>Sat, 02 May 2009 12:25:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=25398#comment-167190</guid>
		<description>Whammer-

well a new day-   and yes-   another unbirthday-   it&#039;s just doesn&#039;t get better than that

wunsacon Says:

&quot;wouldn&#039;t need to spend so much sending kids to college if they would learn more during K-12&quot;

smart-   I never understood all the mad desire to put one&#039;s kids through college-  I went to college-  after 5 years in the USN- because I wanted to learn a thing or two- college has become almost an extension of  high school- kids go- not necessarily motivated- and extend their adolescent years- still listening to their parents as children-  my son who is graduating high school next month- I suggested to take off a year or two- grab a backpack and see what is out there-  he couldn&#039;t be more excited.   Not the best student but a great snowboarder, good surfer, and a rock climbing fool-  enjoy life I say.</description>
		<content:encoded><![CDATA[<p>Whammer-</p>
<p>well a new day-   and yes-   another unbirthday-   it&#8217;s just doesn&#8217;t get better than that</p>
<p>wunsacon Says:</p>
<p>&#8220;wouldn&#8217;t need to spend so much sending kids to college if they would learn more during K-12&#8243;</p>
<p>smart-   I never understood all the mad desire to put one&#8217;s kids through college-  I went to college-  after 5 years in the USN- because I wanted to learn a thing or two- college has become almost an extension of  high school- kids go- not necessarily motivated- and extend their adolescent years- still listening to their parents as children-  my son who is graduating high school next month- I suggested to take off a year or two- grab a backpack and see what is out there-  he couldn&#8217;t be more excited.   Not the best student but a great snowboarder, good surfer, and a rock climbing fool-  enjoy life I say.</p>
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		<title>By: wunsacon</title>
		<link>http://www.ritholtz.com/blog/2009/05/not-winnie-the-pooh/comment-page-2/#comment-167184</link>
		<dc:creator>wunsacon</dc:creator>
		<pubDate>Sat, 02 May 2009 08:15:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=25398#comment-167184</guid>
		<description>&gt;&gt; It’s funny that for years people have been stumped by why college costs were rising so much, outpacing inflation.

Maybe we, as a society, wouldn&#039;t need to spend so much sending kids to college if they would learn more during K-12.  Maybe the absence of funding -- er, credit/debt -- for 13+ would force a paradigm shift to make better use of those years.  Learning more with less debt after graduation?  Priceless.</description>
		<content:encoded><![CDATA[<p>&gt;&gt; It’s funny that for years people have been stumped by why college costs were rising so much, outpacing inflation.</p>
<p>Maybe we, as a society, wouldn&#8217;t need to spend so much sending kids to college if they would learn more during K-12.  Maybe the absence of funding &#8212; er, credit/debt &#8212; for 13+ would force a paradigm shift to make better use of those years.  Learning more with less debt after graduation?  Priceless.</p>
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		<title>By: aitrader</title>
		<link>http://www.ritholtz.com/blog/2009/05/not-winnie-the-pooh/comment-page-2/#comment-167177</link>
		<dc:creator>aitrader</dc:creator>
		<pubDate>Sat, 02 May 2009 06:23:17 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=25398#comment-167177</guid>
		<description>Man oh man that was funny! A A Milne is rolling over in his grave....probably in fits of laughter.</description>
		<content:encoded><![CDATA[<p>Man oh man that was funny! A A Milne is rolling over in his grave&#8230;.probably in fits of laughter.</p>
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		<title>By: Whammer</title>
		<link>http://www.ritholtz.com/blog/2009/05/not-winnie-the-pooh/comment-page-2/#comment-167175</link>
		<dc:creator>Whammer</dc:creator>
		<pubDate>Sat, 02 May 2009 05:39:37 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=25398#comment-167175</guid>
		<description>@ahab, I was just yanking your chain a little; thinking maybe you should bust out and have a Guinness or something, since it was a special occasion.....  Happy Unbirthday!!</description>
		<content:encoded><![CDATA[<p>@ahab, I was just yanking your chain a little; thinking maybe you should bust out and have a Guinness or something, since it was a special occasion&#8230;..  Happy Unbirthday!!</p>
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		<title>By: constantnormal</title>
		<link>http://www.ritholtz.com/blog/2009/05/not-winnie-the-pooh/comment-page-2/#comment-167172</link>
		<dc:creator>constantnormal</dc:creator>
		<pubDate>Sat, 02 May 2009 04:36:10 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=25398#comment-167172</guid>
		<description>karen (and any other bulls that wish to chime in) -- what do you see as the characteristics of a &quot;recovery&quot;? 

Is it simply a sufficient resurgence in stock prices, or is it a rebound in overall economic activity, something that would be reflected in a rising GDP, and eventually (long after the inflection point) a diminishment in the unemployment rate as the level of economic activity rises?

If it is an actual improvement in the level of economic activity, when do you see people having sufficient confidence to buy cars, consumer electronics, and basically do anything other than pay down debt and whatever it costs them to get through the day?  Bear in mind that the level of employment is still dropping, foreclosures are accelerating up the socioeconomic ladder, and corporate profits appear to be flat on their back for the foreseeable future.  Oh -- and there&#039;s also this mountain of debt, chock full of hollow pockets that the folks managing the recession would like us to believe have some actual value.  But I can accept a picture that has us learning to live with eye-popping levels of debt all through the economy, just not a very good life.

That is the basis for the L-shaped recession, I believe.  If anyone can paint me a picture that produces any sort of V- or U-shaped recovery, I&#039;d like to hear it.</description>
		<content:encoded><![CDATA[<p>karen (and any other bulls that wish to chime in) &#8212; what do you see as the characteristics of a &#8220;recovery&#8221;? </p>
<p>Is it simply a sufficient resurgence in stock prices, or is it a rebound in overall economic activity, something that would be reflected in a rising GDP, and eventually (long after the inflection point) a diminishment in the unemployment rate as the level of economic activity rises?</p>
<p>If it is an actual improvement in the level of economic activity, when do you see people having sufficient confidence to buy cars, consumer electronics, and basically do anything other than pay down debt and whatever it costs them to get through the day?  Bear in mind that the level of employment is still dropping, foreclosures are accelerating up the socioeconomic ladder, and corporate profits appear to be flat on their back for the foreseeable future.  Oh &#8212; and there&#8217;s also this mountain of debt, chock full of hollow pockets that the folks managing the recession would like us to believe have some actual value.  But I can accept a picture that has us learning to live with eye-popping levels of debt all through the economy, just not a very good life.</p>
<p>That is the basis for the L-shaped recession, I believe.  If anyone can paint me a picture that produces any sort of V- or U-shaped recovery, I&#8217;d like to hear it.</p>
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		<title>By: Onlooker from Troy</title>
		<link>http://www.ritholtz.com/blog/2009/05/not-winnie-the-pooh/comment-page-1/#comment-167171</link>
		<dc:creator>Onlooker from Troy</dc:creator>
		<pubDate>Sat, 02 May 2009 04:23:23 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=25398#comment-167171</guid>
		<description>Here&#039;s another outcome of our wonderful debt binge of the last decade:

http://www.bloomberg.com/apps/news?pid=20601109&amp;sid=aoglHAxZffTI&amp;refer=home

It&#039;s funny that for years people have been stumped by why college costs were rising so much, outpacing inflation.  Even most economists, I do believe (surprise, surprise).  Well duh, it seems so obvious in retrospect, now doesn&#039;t it?  It all traces back to the debt drug we&#039;ve been on.  It has caused enormous misallocation of resources and excess, all across our economy.  Not many tough decisions have been made in this country for a long time.  We just kept on borrowing, at all levels; individual, local, state, federal, company, universities, etc.  

Even now we don&#039;t want to make tough decisions to live within our means.  This article shows some of that.  We just keep looking to that endless fount of money streaming out of the future somewhere.  It&#039;s like magic.</description>
		<content:encoded><![CDATA[<p>Here&#8217;s another outcome of our wonderful debt binge of the last decade:</p>
<p><a href="http://www.bloomberg.com/apps/news?pid=20601109&amp;sid=aoglHAxZffTI&amp;refer=home" rel="nofollow">http://www.bloomberg.com/apps/news?pid=20601109&amp;sid=aoglHAxZffTI&amp;refer=home</a></p>
<p>It&#8217;s funny that for years people have been stumped by why college costs were rising so much, outpacing inflation.  Even most economists, I do believe (surprise, surprise).  Well duh, it seems so obvious in retrospect, now doesn&#8217;t it?  It all traces back to the debt drug we&#8217;ve been on.  It has caused enormous misallocation of resources and excess, all across our economy.  Not many tough decisions have been made in this country for a long time.  We just kept on borrowing, at all levels; individual, local, state, federal, company, universities, etc.  </p>
<p>Even now we don&#8217;t want to make tough decisions to live within our means.  This article shows some of that.  We just keep looking to that endless fount of money streaming out of the future somewhere.  It&#8217;s like magic.</p>
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		<title>By: call me ahab</title>
		<link>http://www.ritholtz.com/blog/2009/05/not-winnie-the-pooh/comment-page-1/#comment-167169</link>
		<dc:creator>call me ahab</dc:creator>
		<pubDate>Sat, 02 May 2009 04:16:49 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=25398#comment-167169</guid>
		<description>bmc-

what do you think?  where is the growth coming from?  what industry do you see pulling us out into prosperity?  what does your gut tell you?  or . . .  for the short term- what bubble do you foresee?</description>
		<content:encoded><![CDATA[<p>bmc-</p>
<p>what do you think?  where is the growth coming from?  what industry do you see pulling us out into prosperity?  what does your gut tell you?  or . . .  for the short term- what bubble do you foresee?</p>
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