Bye Bye November
We say goodbye to this tasteless as it began in November, well with the Euribor a little lower, specifically the 4607% but with the same doubts as ever. It has been a month of transition, expectant on the consumption of Christmas and end of the year. However, the news of the day will be "down the Euribor in November for the second consecutive month, but not mortgages"
Posts to make predictions, it is best to analyze the words of Bernanke (and you know, the American Trichet), which returned to insinuate lowered rates on that side of the Atlantic. As if it were a pirate spoke of "winds against" specifically pointed to a tightening in the terms of mortgage loans, a slowdown in the property business, and the sharp price hikes which is affecting prices energy. Recall that the chairman of the EDF call him Ben "Helicopter" Bernanke and here you can see why he is called, though he hit a summary:
In 1969 he published a book by Milton Friedman called The Optimum Quantity of Money where the author describes through an example how to escape deflation and liquidity traps. The assumption Friedman is to pull money from a helicopter to give immediate liquidity to individuals and businesses. The current president of the FED was amazed with this assumption saying that "the government has a fantastic technology called printing press that allows you to create as many dollars as you want without cost. (...) Acting so, the government can reduce the value of the currency in terms of goods and services (...) by creating higher spending and hence positive inflation. "
Already you can see that it gives fear the Americans give them for pressing the button to print money "but saw the value and confidence in its currency that there is every indication that they did so long ago.
Returning to his speech, the question is obvious Europe should lower rates? Are we in the same situation? in The Economist is doing and the question was answered at once: Why did the ECB should not raise interest rates in December?. And the answer lies in the inflation, remember that the goal of the ECB is to ensure price stability over the medium term.
As a curious note, while the prices go up here as the foam we have the Japanese CPI rises in October for the first time in ten months. We have to see what formal workers and those who are Japanese.
So here we have the news of the week and month, I hope and believe that a study showed that men lie more than women. Is that why there are so few women economists? .
Good weekend to all.
Reminder: Rankia sued by Ausbanc consumption. Salido Luis Pineda (Ausbanc), you have splendid majete.
(Unrated) 
Loading ... Written by Carlos Lopez on November 30, 2007 with 211 points.
(4.71 sobre 5) 
# 1, Jose Antonio
I have thought of this Forges sent by mail to me in the post ayer.Lo get here also because I think the less curious je, je
The roster of my father
'The roster of my father in December 1979 was 38,000 pesetas. He worked as a laborer on a construction site. At the same time he offered to buy a house. He called for a total of 500,000 pesetas for her. Decided not to risk and continue to live in rental system, under conditions very good. It was a modest house but very well located in the heart of a village near Barcelona. A few months after my father and my mother bought a plot in another village in the same province and at least five years of effort had already raised and paid for a house of 120m2.
27 years have passed. In 2006 and in the same town they live in a modest apartment on the outskirts of 75m2 is not found for less than 35 million pesetas, and I'm being very generous.
In 1979 the cost of an apartment was in the order of 14 months' work a pawn of 38,000 pts / month x 14 months = 532.000pts. The salary in 2006 of a new university graduate in computer engineering without professional experience does not reach the 200,000 pesetas per month. In 2006 a modest housing costs 175 monthly (14 annuities !!!!) of a software engineer.
200,000 pts / month x 175 months = 35000000 pts.
Today's youth need to collect 2.5 million pesetas a month to be on equal terms with our parents who bought a house in the early 80s.
2,500,000 pts / month x 14 months = 35 Mill. of pts
The floors in the year 2006 should cost 2.8 billion pesetas for the youth of today are on equal terms with our parents in 1979.
200,000 pts / month x 14 months = 2,800,000 pts
I can not find any adjective in 2006 to describe what my father considered risky in 1979. It is clear that the floors are not going to happen to cost of overnight least 30 times, from 35 to 3 million. It is also clear that I am not going to charge 2.5 million pesetas a month, for very good work and many studies find that you have. The first thing that happens to one is to continue living at home with their parents and save 100% of salary over the next 14 years, by the year 2020 (I rondaré and 40 years old) will have enough money to buy a housing cost in the year 2006 but not, of course, the cost of year 2020. Of course discards the occurrence of this one before making any calculation. While well intentioned get a couple saves 2, 4 or 6 million with a lot of effort in a few years, today will never be able to avoid:
1) Ask for a loan to the bank at 40 or 50 years (if you manage to save 2, 4 or 6 million can reduce the period to 35 - 45 years, 5 years but do not pose virtually nothing when we are talking about half a century of payment). You will realize that not live in a democracy but a dictatorship. The dictator Francisco Franco was not known, but La Caixa, BSCH, Banc de Sabadell, or, in general, 'banking'. You do not even have the freedom to say what you think, for example, your boss, you are not going to be that close the tap and you can not pay the dictator.
2) The other solution is to pay a rent for life. In this case the dictator will be named Juan Garcia, Jose Pablo Perez or the lessor. The situation is no different than 1).
After this reflection does not have the delicacy of a youth who say their problem is that no saves, that was true for you in 1979, was valid even for some young people in 1999, but not in 2006, in 2006 only get more pay impotence, if anything, the boy. The effort of our fathers, no doubt admirable, was not sterile (could obtain housing property in a period of 5 years). The same effort made by us, the children, perhaps only comes to reduce a mortgage in 5 years half a century. The house was never an order to enrich themselves, but to live and how little material you need it. The law of the free market can set the price of plasma TVs to the price you want to ... I do not buy ... but never had to allow that same law set the price of housing, because we all need to live in one, and not everyone can pay. Young people, even those who have higher education, we can not compete. "