March 2008
You're watching the articles of Euribor for the month of March 2008.
A quick point: We already have the final figure Euribor in March 2008: 4.59%. Which represents a rise of 0241 basis points with respect to February, 0484 with respect to March 2007 (one year) and a drop in 0135 with respect to September 2007 (6 months).
For half a mortgage of 150,000 Euros to 25 years with annual review in March, the rise in the monthly fee will be around 42 Euros. If the revision is every six months, the low share € 12.
We continue the discussion in the article of the day: http://www.euribor.com.es/2008/03/31/efectos-secundarios/
Written by Carlos Lopez on March 31, 2008 with comments not permitted
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One of the legacies we have of the oil crisis of 1974 is the time change that we suffer today especially because of madrugón, it is estimated that with this new schedule each household, saving electricity on average in 6 euros per year in addition to the lower pollution generated. The truth is that there is much savings to the discomfort caused by change, but not everything is as environmentalism and economics, I would look at other effects, particularly those affecting our health. A part of the laziness that comes to us in the mornings, with this new schedule we spent more time on the street with what gives us the sun and get Vitamin D, to be out doing a less sedentary life with its consequent reduction in obesity and this lifestyle we decrease the stress. From a business point of view, this time with the catering business improved slightly but the television they see as their prime strip also is delayed and diminished.
Interestingly, as a measure taken solely for economic reasons can have some side effects as diverse. Normal, so that measures more caliber, such as a drop in rates, which have measured with great care and analyzing all possible scenarios.
So strange this morning, we got up with the news that the harmonized inflation rose to 4.6% in March. This is crazy data and undoubtedly influenced the European average, Trichet data that looks very closely at when making decisions on monetary policy. We are talking about the highest figure in 9 years. Normal with these prices so high we see that the retail trade fell for the first time for three months followed. Interestingly, companies in the Ibex mark a record in absolute profits despite the slowdown. We see that the big capean though the crisis and small are those who eat it.
One of the favorite exercises of the economic means is a retelling of the real estate problems, he did little in Gurusblog and yesterday touched him to El Mundo, with this nice line-up:
These are the companies that have come out worst in recent months.
- Llanera. The real estate Valencia introduced in October 2007 the contest voluntary creditors, which affects six subsidiaries of the group with a debt of around 700 million euros. The company has begun selling assets to reduce its debt.
- Ereaga group. The real estate group, family-owned company with headquarters in Getxo (Vizcaya) and comprises 18 companies, introduced in December 2007 the contest voluntary creditors, which was accepted by a court in Bilbao. The company has debts of around 160 million euros.
- Marber. The real estate Galicia, Small had 56 employees, filed for receivership last January. The most serious thing is that 300 buyers of their promotions discovered that the houses, whose anticipated purchase money, are seized by banks because of the debts of the owners of the company.
- Counters. The group Andalusian counters, focusing on real estate investment activity, called the contest in February voluntary creditors to meet their financial obligations towards its more than 1,000 partners and investors-most small savers who have entrusted their savings to the company to achieve a change guaranteed minimum return.
- Habitat. The Catalan promoter was saved from the suspension of payments' in extremis' last February to enlist the support of all entities creditor. The latest to join was Barclays, which kept the agreement in suspense until the last minute. The company has a debt of 1586 million euros. Last week, it was learned that the company accumulated losses of 444 million.
- Jale group. Two companies, Property and Amuerma Jale Construcciones, the company based in Cadiz requested on a voluntary suspension of payments late last month of February. Its debt exceeds 300 million euros.
- NOZAR. The company Avalatransa asked in early March, the contest against the real estate needs and its subsidiary Lena Constructions, for non-payment of 300,000 euros. However, the judge dismissed the application.
- Seop. The builder, with a debt of about 200 million, became the first builder to suspend payments after the March elections. The company is a sponsor of the soccer team Racing de Santander and its parent company, Grupo Silver Eagle, owns 80% of shares in the club.
- Sanchez Group. The real estate Catalan, who started his business 20 years ago, introduced on Thursday of Holy Week -20 March, the arrangement with creditors. The measure affects the parent company, with headquarters in Manresa, and two subsidiaries of the group, which accumulated debts of 97 million euros.
- Cosmani. The company, which has a portfolio of assets valued at 1,600 million euro, introduced on March 25 the request of the contest voluntary creditors of the inability to cope with maturities of its debt, amounting to 350 million euros.
- Prasi. The builder was welcomed into receivership last week by the current market conditions in the sector. Its leaders claimed that the company was no longer active.
- Encoval. The construction Valencia presented last Friday the contest voluntary creditors, at a time when we have 950 houses phase of work.
Not to you, but I do get the impression that something is not right here.
Written by Carlos Lopez on March 31, 2008 with 266 comments
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The man has this unhealthy habit of wanting to take advantage of all sites. Stocks, stamps, housing, raw materials. Everything. As life is a virtual extension of the real, it was a matter of time before there is also producing an inflationary process. Such is the case of the game "World of Warcraft as I can read this article.
For some time in World of Warcraft (WoW) has emerged a type of user called "Gold Farmer" or "Gold Farmer" which is dedicated mainly to achieve complete the tasks more profitable and get as much gold as possible. This gold is then sold on sites like Ebay in exchange for real currency. In this way, an ordinary user who wants to get an object without special effort or skill, you only have to pay a certain amount of money. Since WoW is a game that requires a monthly subscription for, many users who are no longer afraid to take another "small step" and continue to pay to "improve" their experience in the simulator.
But the curious case of all this is that when there is so much gold in WoW, prices of all objects and others have grown from a brutal manner. According to some, the increase has dropped from 1000%.
Undoubtedly, virtual worlds can be a wonderful experiment to see how the economy without doing real damage. Will the WOW an Trichet? How much longer will be governed by the gold standard? Will it raise rates?
Good weekend for everyone, and again on Monday with more forces.
Written by Carlos Lopez on March 28, 2008 with 351 reviews
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Much talk here of large investors like Warren Buffet or George Soros, but what about those who are not so lucky? Can there be investors with more bad luck that the readers of this blog?. To do this you rescue this interesting story that I read here.
The year 1923 and met at the Edgewater Beach Hotel Chicago men who moved into the world financial issue. These men were: Charles Schwab (President of the USA's largest steel), Samuel Insull (president of the largest provider of public services), Howard Hopson (president of the largest supplier of gas), Arthur Cutter ( the well-known speculator in wheat), Richard Whitney (chairman of the stock exchange in New York), Jesse Livermore (the big "bear" on Wall Srteet), Ivan Krueger (head of the world's largest monopoly), among others. They were the kind of people that many envidiarían and would like to be, who moved the world. But 25 years later, Charles Schwab went into bankruptcy - Samuel Insull died abroad, penniless and without a fugitive from justice - Howard Hopson became crazy - Arthur Cutter was declared insolvent and died abroad - Richard Whitney newborn just get out of prison - Jesse Livermore committed suicide-Ivan Krueger committed suicide.
As you can see, for quite a hurry that we certainly within 25 years we finish better than them. Maybe in 25 years for him to Trichet to lower rates, however, it appears that inflation remains committed and is not expected to lower them. Nor do we know if within 25 years real estate will remain in this country since yesterday declared suspension of payments two (Cosmani and Prasi). At least, what it is that we can be sure that within 25 years most of which I read estaréis're paying your dues last of the mortgage.
Today we have no recent news because I'm traveling, so this article and tomorrow are "canned". So I hope that the zone utilicéis comments to talk of the day's news 
Written by Carlos Lopez on March 27, 2008 with 300 comments
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As it does not much talk about Keynes today, to compensate, we'll talk about Milton Friedman Nobel Prize for economics in 1976. A champion of liberalism believed that, as an expansionary monetary policy may create economic crises, a restrictive policy may also be harmful, by price deflation. Right now the big problem that we can move from an expansionary monetary policy too much to a too restrictive. We are going from one crisis to another.
It is strange to see these days, as both theories as liberal interventionists are applicable both to solve the problems we have to see the mistakes. As we saw yesterday, we live in a liberal intervened. Sort of like being a square round.
Let's look at some of the quotes from Milton to know you better:
- There are a smokescreen behind every government program.
- The great advances of civilization, whether in architecture or painting, science or literature, have never been a central government.
- I am in favor of legalizing drugs. In my value system, if the majority of people want to kill themselves, they have every right to do so. Most of the problems that come from drugs are because they are illegal.
- Inflation is taxation without legislation.
- The social responsibility of business is to increase its profits
Without doubt, this last sentence is the most controversial and speak on that topic Cotizalia in Article Save cincuentón or to the true Corporate Social Responsibility.
What can our increasingly globalized multinationals to improve its margins and productivity ratios? In many cases the remedy has to go, so almost inevitable, for the cuts. It's like that. But that's not the question that arises here. On the contrary. What is disputed is the waiving of talent so subjectively on the basis of objective parameters that have nothing to do with the true and rigorous performance of the tasks entrusted to the early retirement, on the one hand and, secondly, the fact that the Corporate Social Responsibility omits the role of reintegration of these people, in one way or another to the world of work, seen every day lives better and that the trend internationally, in order to safeguard the viability of the system itself for public benefits, is to lengthen the legal retirement age.
Interesting topic which deals. If you reach the age of layoffs "cincuentones" are in the spotlight, often forgetting their experience and wisdom.
CONTINUES ... (more ...)
Written by Carlos Lopez on March 26, 2008 with 301 comments
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Benjamin Graham is a guy interesting, as we discussed here recently in an article on Warren Buffet. To ruin in the crash rose from 29 to publish "the best book on investing ever written" in the words of Warren, the title of the book is "The Intelligent Investor" and is considered the bible of investors.
With the crash of 29 came to lose up to 70% of the assets it managed. But sought to discover how to invest safely and profitably. We succeeded. Between 1929 and 1956, a period of war, its investments grew by 17% on average annually.
In his famous book reveals the strategy: demanding quality in all investments, patiently seeking bargains among undervalued companies, buy shares and expect to recognition of their fair value. All this for the longer term. The truth is that it makes sense: Buy cheap and sell at their price And why do not we endeavor to make the case?
This book should be the head of JP Morgan, a few days ago when the bank tried to buy a $ 2 Bearn Steran action, remember that less than a year ago quoted love about $ 150. One thing is finding Animals and another is to deceive shareholders, so at least we had been forced to raise the offer to $ 10. This has been quite lively markets and the situation is going from black to dark gray.
What we are showing the current monetary crisis is that markets are far more intervened by the state than we thought, on the one hand we have the Bear (in which the EDF got hand), the decreases in rates to calm bags and injections of liquidity to put more money into the system. As they say in Cotizalia: The dollar reappeared on the market intervention by the 'de facto' from the Fed with the blessing of the G-7.
CONTINUES ... (more ...)
Written by Carlos Lopez on March 25, 2008 with 158 comments
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