December 2007
You're watching the articles of Euribor for the month of December 2007.
And when I say nobody, nobody is. Yes, folks, this time he has touched the multimillionaire Mr. Monopoly name given to the famous board game and a member of the usual list of the richest fictional characters of Forbes magazine, which leaves the list "after losing pulled all their money for the crisis in high-risk mortgages in the U.S.. " You can read this sad news and ranking here.
Moving from fiction to reality with the bags still revolts by the usual subjects, that if interest rates here that if there subprime mortgages, in order that this evening he had bled to the bag which was a Japanese 2.48% and walk over here to Europe and it seemed that the Fed agreed with the ECB and other central banks plan to tackle the crisis. And you see that so stormy relations between central banks and stock exchanges.
After this scene so uncertain, the best way to tackle the growing crisis is to get strong, big and muscular and that is what they are doing seems the most affected, banking and brick through a series of mergers and acquisitions which started recently and may continue. This is how Cotizalia titled his article as if the title of a film series B: Time cannibal in the brick and banking.
Is the next step of the crisis. After the greed and excess in the credit bubble, with almost unlimited transactions, sources of liquidity and funding to deal with problems. Now get defensive mergers. And was seen on the horizon. Brick by brick eat eat and bank to bank. The cannibalization of enterprises in difficulty by other without problems, loose or more positions will be the keynote of the coming months
Surely, something's going on in these sectors as well as they once were in the number of buildings started had fallen by 40% since August, as you see, this is the soft landing that we spoke.
It will be interesting to see how they react once the construction has been finished and that the bargain in business or you renew or die since the cycles do not last infinite, a clear example (changing sector) is the Polaroid those instant cameras started digging his grave with the advent of digital. I am delighted that jumps from the photograph on television reinventing their business after 2 years of inactivity.
Ya know, Paco, Fernando, and other Florentino, maybe instead of mourn therefore have to reinvent your business, that they have to paste over it.
Update: Interesting comparison of Investment Funds
Written by Carlos Lopez on December 13, 2007 with 282 comments
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This is what some people think about the decision yesterday that the Fed lowered interest rates 0.25 points, while many people thought and wanted to do so 0.5. And when I say some, I mean that Jim Cramer comes to something like Karlos Arguiñano of the economy but on American television. Because this type, each time one speaks of its trading value moves violently. Let's see what is your opinion about the decision yesterday.
With a cut of just one quarter-point, and we will not be able to avoid bankruptcy. Banks and real estate were awaiting assistance from the Fed in order to survive, but now its line of life is much shorter because of this, and assured of entry.
'I am horrified. Have pifiado as simple as that '
'No, we learned what is going on in banking. We figure a good job and a lot of construction cranes. We're fine. Relaxed.
It seems that Jim Cramer is not the only one who thinks so, and just look at who got batacazo U.S. stock market yesterday, but ultimately this is going to his ball and no person who understands well the only thing we understand is that if the U.S. goes for the European side continues as if his shadow.
The mental mess that we have assembled is so great that even the same sector employers are not agree on the impact of the crisis, this is what happens between banks and boxes.
According to the Mint, we are in moments of fog and fear "and one can not rule out the arrival of a recession. Nothing to do with the discourse of the banking association that provides an improvement already from the first quarter of 2008.
So if these are supposed to know this, are not able to give the same speech, just imagine that we see beyond our payroll.
Therefore, today's debate is simple. Will FED blunder?
Written by Carlos Lopez on December 12, 2007 with 264 comments
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Andabamos all concerned about whether Fernando Alonso would englosar lists INEM next year, but apparently looking for work in Segundamano has finally found a good gigs at Renault and is set as the world stock market yesterday that the actions of the car company went up by this news, about 5% (yes, yes, what you see, link to Mark). Curiously, the main sponsor of the ING team is, so we know who will be granted for mortgage minipiso.
The sector that seems to desperately need a real Fernando Alonso is the one hand we have Fernando Martin, the character with such charisma that he was president of the Madrid (sports days will take today) to be in debt to lenders and billiards is negotiating the entry of Fadesa in Bhavnani, Bhavnani remember is that from an investor in the Canary badulaque is being done with half Spanish stock market. Indeed, the ironies of life, Fadesa was Depor's sponsor for several years.
The other news of the sector that he says he has stopped funding the purchase of real estate until this summer and comes with a metaphor that is priceless.
Imagine flying over a number of vultures waiting for an esplanade fall prey. Not in a hurry, look, you just have to wait now. When the victim fell, one of the vultures is thrown at it, while the rest of the band expected to confirm that the victim is dead and that time is stinging.
Without doubt, I would say that Iker Jimenez Felix Rodriguez de la Fuente has been reincarnated in an economic journalist.
As you can see today we have had to speak of rich and often I ask, what is the difference between a rich and a millionaire? Fortunately in Five Days, I respond to this existential questions:
The tenth million dollars makes the difference between a rich and a millionaire, according to Barclays Wealth.
And I thought it was to be a millionaire several million pesetas ... Anyway, do not get discouraged, at least, we have the luxury that most large fortunes value: Time.
For most, it is par excellence the luxury of time. Almost two thirds of respondents (62%) believe that his fortune gave them more free time and more than half believe it has allowed more and spend more time with his family. However, the rich are also more likely to say that the increase in wealth has led to greater stress.
So what we like about this time, expect to see 11 to wake up today and yesterday came Euribor supervitaminado and supermineralizado.
Written by Carlos Lopez on December 11, 2007 with 218 comments
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The truth is that Swiss interest rates are very clever, they are both capable of winning the America's Cup sailing without sea, in addition to owning one of the largest banking systems in the world, perhaps the key banking secrecy (short hit the wikipedia), which is guaranteed by article 47 of the federal law on banks and savings banks. This was introduced in 1934 and prohibits the representative of a bank to disclose any information (bank or otherwise) of one of its customers. This could be considered somewhat as a professional in the same value to medical secrecy. This secrecy may be lifted if a judicial process entreayuda international demand. This discretion promotes the arrival of capital and the stability of the Swiss franc and the Swiss policy.
But as nobody is perfect, they were also beaten and that the time has come to the bank UBS cut its assets in subprime 10,000 million dollars and warned about their results. In Spain we also have our Swiss individuals, perhaps the best known is Amancio Ortega and sometimes encourages others badly enough you comment that the owner of Zara leaves three funds hit by the mortgage crisis.
The JPMorgan RV 4, which Ortega invested 18.5 million euros through its SICAV Keblar, it lost 12.2 percent since it touched the highest in July to the lowest point in October. A disaster for a product that attracted investors for its conservative style.
Another of the funds shaken by the situation has been INVESCO Enhanced Cash, product aimed at institutional investors from the management company that manages Spain Miguel Rona. This product, which Amancio Ortega in late June invested 10.8 million euros, is aimed at 30 basis points over the one month Libor rate, maintaining that "protecting the capital." However, the fund has come back to near 8.5 percent, an unacceptable loss to the customers of these products
Ya see, you sell a fund at the end as a conservative and you get to the wheels and that the richest kind of Spain that is supposed to know this or at least be well advised.
On the other hand, there is news of this weekend and something that worries me is the decision of Iran stops selling oil in dollars and lay down this quote:
The Iranian president, Mahmoud Ahmadinejad, who used to strong criticism against the West, has called the U.S. currency "a worthless piece of paper."
No doubt a very news to keep in mind because currently rising oil not be affected as a result of the strong euro.
Little more time on this so hard Monday after the bridge. Courage!
Written by Carlos Lopez on December 10, 2007 with 265 comments
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That is how the Americans laid yesterday if we judge the behavior of his bag and I firmly believe that the reason for such optimism is that at last the Iberian ham you can taste in the U.S. legally. It does not matter if the mortgage defaults to rise faster in there 21 years since, with a full stomach, the penalties are minor.
And now back in the news again the decision to freeze the U.S. interests of high-risk mortgages for 5 years. Certainly a surprising decision that classify even Marxist. Ya see, Bush Marxist that stuff.
"There is no perfect solution," said Bush, adding that the agreement represents "a sensible response to a serious challenge." "Nobody wins when a house is seized," said one official who asked to remain anonymous. "The owner loses, those who lose funding, communities and neighborhoods lose, as investors and the economy suffers," he said.
Europe tristones walk a little further and we aguó Trichet is that the party yesterday with a message in the dark where it was recognized raise rates and repeated its concern about inflation, this is what we said the friend.
"The latest information has confirmed the existence of strong upward pressure on short-term and inflation has been fully confirmed our assessment that upside risks to price stability over the medium term"
Anyway, we do not complain for example Brazil keeps interest rates at 11.25%, it has nothing to do but we hope to serve as consolation.
Little more to tell on this day of semipuente and encouragement to the few that we have to lift this country.
Written by Carlos Lopez on December 7, 2007 with 220 comments
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UPDATE: ECB holds rates at 4%
That is great for mortgages rising to climate change. There is no doubt that debts join more than love is the best glue to prevent separations. A study shows that divorce is harmful to the environment and to couples who live apart consume more water and energy. So I think Trichet has done more for the planet that the heavy Al Gore.
Where if you have to be drastically lowering the number of divorces in the U.S. is because there MarketWatch chief economist Irwin Kellner said that housing could fall another 20%. An article alarmist, but perhaps with some pretty good sense as follows:
Kellner concluded that what matters to fix the price of housing is not the cost of land or construction, or the price of other homes in the same area, what matters is the ability of families to pay. And until do not have that capacity, the houses remain unsold.
Because the sector is very malito and it seems that nobody wants, according to BlackRock Shares remain more attractive than the 'brick' or bonds. I had never heard of this firm and that investment is the largest U.S. managed no more than 1.3 trillion (U.S.) dollars, but of course, the price is that the dollar does not give us or pipes.
As a good December, start making plays forecasts next year, and analysts see a bullish 2008 for the bags. That may be true or not, frankly I do not know, but I wonder did you ever have seen one analyst to say that next year will be a year down to the bags?. True, the stock market in the long term is one of the best investments, but not more than occasionally being a little cautious or simply take the opposite.
But these are overshadowed by news the bridge of the take-up and the car filling up the car this bridge will cost more than 9 euros a year ago, which surely is another factor that will affect a smaller car use and better health of the planet.
So I ask you will not be the current economic situation a Machiavellian plan perfectly orchestrated by the great masters of the world to stop climate change?
Here you leave the question to think that over the bridge.
PS: The reader "village people" if you want to talk about the current situation of oil and little or no alternative future.
Written by Carlos Lopez on December 5, 2007 with 215 comments
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