February 2008
You're watching the articles of Euribor for the month of February 2008.
The 70 decade was a fairly delicate to be remembered forever by the fashion Disco headed by the indefatigable Tony Manero in Saturday Night Fever. The screenplay for the film still remains in force and that is about the life of a young New Yorker who has a job inconsequential and the only thing that is good is dancing in a nightclub. We get a lot with the youth of now, but it was too soon to the canvas.
In the shadow of this movie that we were with the Petroleum Exporting Countries gave them to close the tap, quadruple its price and cause one of the most important economic crisis of the past century. The situation in the U.S. by then was very sensitive, practically bankrupt with a devalued dollar and immersed in enormous costs caused by the war in Vietnam. Come on, just like now.
Faced with this situation, many question Do you come back to the 70? ¿Volvera the estanflacción? And the pants bell? That is what Bernanke was asked in the senate which flatly denied it, is good not pronounce on the pants bell.
So how do you know if we are really in crisis or not?
Look (more than it usually is usual) on women in your office: Have they changed their miniskirts evocative costumes by conventional jacket? Is painted red lips with a passion more intense than ever? So there is no doubt: We are in crisis.
The reason is logical
Sa says such and Silvia Martinez, in charge of public relations for the French company L'Oreal: "When a woman can not be paid a dress or a ring, buy a lipstick."
You know, to invest in lipstick and hopefully, for our good, you return the miniskirt and muslamen.
Those not currently needed painted lips is "Matilda" and that Telefonica beats forecasts, and its profit increases 43% winning 8900 million euros.
Since we are talking about astronomical figures, in Cotizalia tell us over the history of the family NOZAR as a year ago and had investments in real estate valued at 2,000 million Euros worth 370 million now. It's what you have when you spend the risk and ambition. But I am interested to know if the family has any NOZAR daughter marriageable age.
While in Spain we have television stars of the tomato in the U.S. that breaks the corduroy is Jim Cramer a stock analyst who this time strikes again: accuses Bernanke of the fall of the bag and criticizes Bush and Paulson. This is a very peculiar Cramer say that is a Carlos Pumar of the economy.
"Why the hell is it so difficult for people who admit their mistake?" Asks Cramer. If Bernanke does not do so and if the government does not realize that the free market is not going to work now "better than in the potato famine in Ireland in the nineteenth century" (Cramer has become Keynesian!), " we will have to fight this recession without the weapons they need: immediate decreases in rates combined with guarantees for homeowners who can not afford the fees the mortgage, "he believes. And even more angry: "There will be bankruptcies of banks (that Bernanke said yesterday) but the fundamentals are sound; not explain it to me."
Today is the last working day so we will know the final value of Euribor February 2008 so we'll see headlines like this: The Euribor closes Feb. grazing and low 4.35% for the second consecutive month. As you can see, as they still do not know the exact value will remove a decimal and already have. Remind you that as at the jokes, there will be a good news and bad mortgages and rising annual review but the fall semester. In this environment we have at Deutsche Bank who designed the cheapest in the mortgage business downturn. Who want to continue squeezing a little orange juice.
So for the weekend I stay with Cramer's question: Why the hell is it so difficult for people who admit their mistake?
To conclude, as I leave Friday "The comment of the week" for our reader "Solvent". You can go through our "offices" to collect their "Air Guitar".
The Noah's ark.
Every morning I have a couple of roundabouts ring to go to trabajar.Circunvalacion that is fraught with social housing. Rather than social housing I call the Olympic village, because all of its tenants are Tracksuit and hung with Gold Medals.
Every day there is something new to discuss with my wife when I come home, so that scenes fun, not least today I saw a donkey peep through the window of a bathroom, guess what manger that will in the bathtub.
All this comes a tale of what it says refranero "board was asked to give more." It is for some needy families in my city that accumulate a number of houses without considering the slums, properties that are dedicated to rent to other families to trapichear.
What I say is that I was born not rich, no one has given me nothing, I have only two hands willing to work and I have never asked a tough one and I had to pay a flat black of VPO, when I see people out there that does not give a stick to water and ranging in flocks to the door of the council calling for decent housing. If it was not given the hook and hold the light in street lamps that pay us until they leave the program street trying to create pity.
I do not want to put everyone in the same bag because people will really need to which the company has not given a chance and finished with another saying "He who does not breast not crying."
Written by Carlos Lopez on February 29, 2008 with 238 comments
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I admit, today I gave it 8 times a button "sounds later." The reason is that yesterday we had a job at the farewell party of 6 people who have to go to the company by restructuring, it is a shame because people are very valid but neither will cost them much to find a new job. The situation is bittersweet for me, firstly, as a worker goes hurts me to be but as a shareholder of the company is assumed that these restructuring should help increase the value of the company. I'm already see "employer" and an employee at a time, that bad roll.
Today undoubtedly missed least have a clock like this:
The charm of such a gimmick is that every time you give to the button of "5 more minutes" connects to your bank online and perform a transfer to an organization that more t hate, for example, the PSOE, the PP and SGAE. Interesting concept that makes me think if we operate more than hatred by love ...
As for the economic news of the day we find the following:
Written by Carlos Lopez on February 28, 2008 with 152 reviews
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Seems to lie, but nothing within the Euro will fulfill 10 years, I do not speak of "coins" but of "currency". 
Fixed whether there had been strong, that in 2001, 1 euro cost $ 0.85 and is now at historic highs above $ 1.5.
To celebrate this birthday, was issued a commemorative coin and will be the second time that all countries that are part of the eurozone issue a coin with the same design, after the coined in 2007 on the occasion of the 50th anniversary of the Treaty of Rome .
This you see is the new dieseño.
The strength of the single European currency is very worrying for the U.S., so that countries are starting to raise the oil to sell crude oil in Euros, the measure would be very risky for the world economy and especially the U.S., almost a órdago. So dangerous that Saddam Hussein was the first to try and look like it. Fear of "Petroeuros" is very strong. However, OPEC and company are clever enough to always pay an expensive oil because as you have noticed lately, when the dollar lower crude oil rises.
However, whether or petroeruos petrodollars while the black gold to over $ 100 we can guess who will be the ones to us out of the crisis by buying Western companies to price balance.
What it does is that it has lowered the total number of euros it provided to ask the bank to buy a house and that the granting of mortgages fell 32.5% in December, however in the last month of 2007, loans to buy housing get dearer by 6.2% in the whole year up to 149,007 euros.
In this environment of doubts, uncertainties and unpaid, appearing for the leeches around the corner called "Corporate Debt reunification" as we have in The Economist:
For lack of regulation there are some who are colando in this business and practice of usury, with loans at an interest of up to 90 per cent per annum to which no one can cope.
Recall that these companies do little more than talk with the bank to get you in all your mortgage loans.
This year, the turnover of the reunion will grow by 35 percent, five points more than in 2007. They charged to customers, on average, 3 percent of the funding involved in the work of advice to make lighter the payment of claims.
That is, 3% for talking with the Bank. As you see, do not be afraid to crisis since it is time for big business and especially on the cheap.
Written by Carlos Lopez on February 27, 2008 with 181 comments
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Many times we have spoken here of what they are traps and manipulated statistics, especially when we talk about prices. But this is not new, until I knew that Homer Simpson once said: 
"Oh Kent, people would invent such statistics to prove anything, and that only knows what 14% of the people."
Although statistics from time to time we can give something curious, for example:
In the Vatican there are two popes per square kilometer.
And even reach some conclusion dangerous:
20% of traffic accidents happened when the driver is drunk. Therefore, 80% of traffic accidents happened when the driver is sober. As a result, it is safer to drive drunk to sober.
The worst happens when one starts to think these singularities and disregards the reality, this time the anger we miss the economic daily Les Echos that said: "There is no worse blind as those who will not see. Spain has reached the end of a cycle. "In an article very hard to reach this conclusion:
"But the Spaniards should not look the other way: the road will be long. His country did not have enough non-exporting companies and highlights precisely because of its high technology. And to make matters worse, Spain suffers from a competent educational system, if we look at the famous Pisa report, despite the presence of renowned business schools and some universities at the international level. Whoever wins the elections on March 9, must manage a brutal slowdown in the economy and painful reforms. The feast is finished. "
And the truth is that we are talking about structural ills, such that it does not create a legislature, but that comes from long, like our obsession and even in complex thinking that only we can be competitive in the services sector without investing in R + D.
As for the news "Mortgage" yesterday, we have the measure submitted by Solbes to lengthen the term of the mortgage to families in distress, and discussed a lot around here but I'm staying with the following summary in which it outlines 3 points: 
- This is a misleading
- This is an impractical
- This is a discriminatory measure.
As you see, has not been very well received because this measure is put out as many say fire with gasoline.
I once mentioned here that the great fortunes are made in major crisis, perhaps we should not temerlas both and try to find those opportunities (How much do you earn a collector of Frac?) In this environment we have at that Visa is set to become the higher output in the U.S. stock market, which expects to draw no less than 12,650 million euros. Undoubtedly, the debts are a negociazo.
How do you suppose that one crisis to affect your work?. For example, this website the day I had more visits was the biggest drop in stock market ...
Written by Carlos Lopez on February 26, 2008 with 218 comments
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Neither Barça-Madrid, or milk. The party of the year is the "ZP-Rajoy" tonight. And no need to go to a bar to view the most since the majority of what lay tels. Therefore, from here we leave this particular ring for individual fans are cheering on their team.
Who will win? ¿Iran to the attack or defense? Will there be low blows? Will more blows to the right or left? ¿No longer the candidate KO the current champ? Will it be a clean game?
Written by Carlos Lopez on February 25, 2008 with 72 comments
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In classical economics has been studied frequently "the paradox of value". Usually we have the idea that something "useful" to be more expensive than something "useless" but ... Why diamonds are more expensive than water?. Nothing is more useful to humans than water, but for the moment we are not used to buy almost anything. To do that you an idea of what little water is worth, in Madrid the price is € 0.001269 per liter.
The solution to this paradox is not to explain to the value of things, but with the attitude of someone on that property. The classic example comes to be that of a man in the desert with a bag of diamonds, but died of thirst. What is worth more there? Does the water or diamonds?. Understanding this concept we can understand why certain ratings above or below its price of course.
Now, we are experiencing what might be called "The Paradox of Euribor" that comes to saying that the Euribor low but rising mortgages and is what is echoed in "The World"
The Euribor is expected to close in February 2008 at 4.33%, below a tenth of what it set in January (4498%).
The indicator on Friday reached the 4367%, so that the average would be in February 4337%, well below the 4733% with the beginning of the year and 4498% with the ending in January. However, this "good news" would only benefit the mortgages with six-monthly review.
For half a mortgage of 150,000 euros to 25 years and with a spread of 0.50% hired a year ago that the assessments are reviewed annually in February would rise from 799 to 819 euros, representing a monthly cost of about EUR 20 .
Among the usual lack of news on Mondays at this time, highlight the Five-Day titled "Growing signs of a slowdown."
A slowdown in the Spanish economy remains journey. Almost all the indicators used by the Ministry of Finance to predict activity in the short term charts show-down and exacerbated. This is the case, among others, of synthetic indicators, grouping variables to observe sectoral trends. According to them, consumption, services and construction will get worse during this semester.
As for the bags, today we are going up by the closure upward at the last minute of Wall Street and rises in Japan that has benefited from possible entry of Chinese money (which was down to the bag china). As you can see an interesting movement of capital which we will see for Asia and the bubble of bubbles is that the Chinese market.
PS: I remember that the BOE has already been released in January 2008 Euribor
Written by Carlos Lopez on February 25, 2008 with 204 reviews
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