April 2008
You're watching the articles of Euribor for the month of April 2008.
In the Middle Ages, the quintessence was a hypothetical, also known as ether and it was an extremely light substance that were believed to be occupied all the empty spaces as a fluid. By then, the five elements of nature were, land, water, fire, air and quintessence.
In modern physics to get into the quintessence dark energy that is a theoretical component which would provide nearly three quarters of the total mass-energy of the universe.
Therefore, in an area as much as it is studied physics and the functioning of the universe we do not know yet whether the items are 4 or 5.
The same is happening to us now in Europe, with rates of 4% we have the Euribor at 5%, in this case the quintessence we added this point is uncertainty, the lack of confidence. The banks are afraid to lend money and if they do that is to spread.
The lack of confidence not only have the banks, they also have citizens that reduce consumption to levels from the recession of 1993.
The National Statistics Institute (INE) announced a fall in retail sales of 5.5% in real terms after removing the effect calendar. No recalls a fact that bad since at least fifteen years, which gives an idea of accelerating the adjustment and the progressive deterioration of the spending power of families. In particular, when purchasing equipment for the home, whose evolution has plummeted by 17% since March last year, while spending on food has fallen by 5% in real terms.
It seems that what the "tighten their belt" is starting to be more than metaphorical and less until we spend on food.
Today is the last day of the month, indicating that at 11:15 we will know the final value of the Euribor April. However, the media ahead of the news even before it occurs and give the figure to be the most common owner: "The Euribor closes in April at its highest level since December 2000"
And with all this data, we are surprised at news of the following:
Perhaps it is because the good weather will be with us.
Good news for those who are thinking of going on holiday on the bridge in May. High temperatures and sunny weather will remain almost the entire country, except in northwestern Peninsular, which is weak to moderate rains fell.
As such, enjoy the good weather, the sun at least for the moment is free.
Written by Carlos Lopez on April 30, 2008 with 197 reviews
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Manilkara zapota is the tree whose sap is got gum for chewing gum. Although we may seem an invention of the 50s, is known of their existence for over 9000 years. While he was in 1871 when it was marketed the first chewing gum in the United States. Its price was 1 cent on the dollar and sold in major pharmacies in the country.
One of the leading brands of chewing gum is Wrigley's, founded by William Wringley, the type of employer made himself and which started with 13 years to sell soap that produced his father and set up his factory with 29 of chewing gum, Theirs is the idea being put up for sale next to the cash register for restaurants
If that was not enough, in 1915 had occurrences of the daring mail three tablets of gum mint to all persons who appeared on the phone all the cities of the United States. The success of the idea earned him first place in sales for long.
We are not talking about a small business, let's see some data:
- Americans annually spend millions of dollars in 2500 this type of product.
- Each American consumes 190 chewing gum a year.
- Since the Second World War, the gums are present in the survival kits of soldiers
As you can see, this is a business and an American icon (although like many of his icons, not invented).
Recently, we talked to the richest man in the world (Warren Buffet) said it had money to spend but not finding opportunities, which we did raise doubts about whether the crisis really is liquidity, or as trustworthy. Something must have confidence in chewing gum as it announced yesterday they would buy a significant portion of Wringley with the help of Mars (those of M & Ms).
As you can see, there are a multitude of businesses in which refuge in a crisis, not all banks, builders and realtors. Life goes on and on the market can still find attractive investment opportunities.
However, he had to talk to Warren and said yesterday that the U.S. economy is in a recession, moreover, "will not be short nor superficial." And such, as you know, trust me.
"I think the definition of the common man differs somewhat on whether there are two consecutive quarters of negative GDP growth," said Buffet, who stressed that the U.S. economy is in recession, unless one wants to stay glued to the strictly technical definition, which in his view "does not have much meaning for anyone who has lost his job (...) I think consumers are noticing the prices of fuel and food and not feel that money on other things."
That is why it has. What do I take that Spain will grow by over 2% if the prices are sky high and rising unemployment? Would not it have to redefine the concept of recession?.
Today we have two good economic indicators, on the one hand the granting of mortgages:
During the month of February, the average amount per mortgage was formed in 169,320 euros, 4.8% less than in the same month of 2007 but 3.6% higher than in January 2008, according to the latest figures made public by the INE (National Institute of Statistics). The biggest decline occurred in the farm, with a fall of 36.85% year, while in the case of mortgages on residential property consisting of the amount was only 0.79% lower compared to the same month of 2007, and a 4.32% more than in January.
And the other The HICP Spanish low four tenths in April (4.2%) to its lowest level in five months. At least, something had calmed down prices.
For those who do neither them nor has the crisis, despite all that is mounted to the Spanish banks, today we have to Santander, who won 2206 million in the first quarter, a 22.4% increase.
To end financial results that may have an interesting reading: Visa earns a 49% increase in the first half of its fiscal year.
Written by Carlos Lopez on April 29, 2008 with 204 reviews
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To give you a little variety to the blog we will have invited authors once a week will write the article. Now it's up to "Oriolrc" a habitual reader of reviews of the area (under another pseudonym).
Everyone knows by the low level of financial culture that we Spaniards, but in recent years was not worrying because everything was wind in its sails. Now that you see the wolf ears and began to feel in our bones break the consequences of the world, injured in Spain for financial abuse committed, we see that it was not unreasonable to dedicate part of our time to instruct a pelín in the art of the numbers.
As you can observe is a matter of preference, since according to the latest report of televised hearings of the Multimedia Group Corporation, the Spaniards we see on TV 223 minutes per day, which is 1350 hours a year. Given that the degree of economic consists of little more than 300 credits (3,000 hours), in just over two years we could have completed such a degree. It seems clear that the Spaniards until today we have been concerned over another type of credit.
Obviously it is not necessary license to perform a healthy financial planning, one need only be informed and not blindly believe what others do or say. Conformism and the herd is the attitude that favors more power and those who move the wires. Maybe we should have been more critical of the model that we were selling. The branches that no longer see the forest we are running out of leaves before the arrival of the "autumn economic" and began to take a bit of perspective about what has happened here.
Despite all this, what is not good for learning, just learning by crook, as estimated by the National Association of Financial Institutions Credit (Asnef) The credits or personal consumption fell by 30% in Spain until March.
Could it be that this is imposing the Pareto Principle? As we read on Wikipedia:
"Pareto observed that people in their society was divided between the course 'little much' and 'many little", and thus were divided into two groups of 80:20 such proportions that the minority group, made up 20% population, holds 80% of something and the majority group, comprising 80% of the population, 20% of something. ...
... It described how a population of approximately 20% holds 80% of political power and economic wealth, while the other 80% of population, which Pareto called "the masses", was divided the remaining 20% of wealth and had little political influence. This happens at about the distribution of natural assets and global wealth. "
Then:
Is the 20% of Spaniards gathers 80% of the national economic resources and the other 80% we give out the crumbs?
Is the 20% of Spaniards are what have led to street 80% of the profits they have generated in recent years of economic growth?
If we had known before the sr Pareto maybe we would have seen that it was impossible for all of a sudden 60% comprásemos vehicles and high-end single-family houses, and that if this happened was only to benefit the 20% (the usual).
As for the usual summary of news we highlight the following:
Written by Oriolrc the April 28, 2008 with 188 comments
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We have to see how moving the times (starting with a sentence of grandfather). Already we see from the announcement of Finance and true. Before we had to spend hours and hours to make the income tax return and now we send it home for the sign and go through box (or it will be returned as relief for the mortgage). And yet in the 90 had the power of "Rita" the powerful computer of the ministry of finance. Let's see what was written back in the year 96.
Rita did not know everything, but frightened. To this woman's name, Jose Borrell, during her finance secretary, named to the powerful computer of the Tax Agency. It was like Big Brother Orwellian. No one, was presumed, beyond its tentacles auscultadores. Neither the very Lola Flores, then Faraona of Spain. "With Rita was an attempt to put fear into the body to the people," recalls economist Fernando Martin, then inspector and, since 1990, as a professional independent tax adviser.
The less curious, that Rita, the name of singer, metiese behind bars for more folklore folk.
A ministry has always liked to name a woman to computers, and the interior is named Clara who retired prior to that was named Berta. Computer so powerful that even investigated (in 2006) if it produced cancer since many players who used it ended up with tumors.
The newly created Service and Infectious Diseases Act of the General Directorate of Police has opened an internal investigation this week to determine if the cancer diagnosed twelve players and officials assigned to the Data Processing Center of El Escorial (Madrid), the largest Spain, is caused by radiation present in these high-tech facilities. Five policemen of this complex have died from malignant tumors in the past five years.
We have at our particular Berta is the interesting story and told us that our reader 'Mano H20 "and was voted a comment of the week, with its consequent award of the" Air Guitar ".
Without a doubt, at least for reflection.
Today I did not accompany neither optimism nor a sense of humor.
The reason is that BERTA gone.
Berta is a brood of four years of college companion of my daughter. It is often a girl size, nice and lively eyes. That kind of eyes that accompanies the kids to hunger and other life circumstances espabilan forcibly.
On occasion, to pick up at school with my daughter, I have coincided with the mother of Berta. Appears to be about forty years, but I think it must be no older than 26 or 27. It's too worn out by life and three young children. The largest of them, Berta.
This woman I am convinced that there has never heard of or Trich Bernanke. Neither of the Federal Reserve. If I ever would have said the ECB would probably have thought that he was talking about any supermarket chain.
I know of her husband. It only works in a company matricería, this sector is also seriously concerned by the emerging economies.
Berta's mother does not know what is an emerging economy. Only knows the economics of subsistence. The day to day. The month to month.
Three years ago this company was going well. I think now is bad, very bad.
Three years ago, parents of Berta bought at the price of a hovel palace of Versailles. I liked the area and sought, without doubt, to develop his family in a quiet environment. Just that. What they bought, and it is because I know my wife is a flat no more than 60 meters in a building about 40 years. The floor was a pigsty and they will, with effort and abrasive adecentaron that antrum. Berta because parents are those who ennoble a pigsty with his mere presence.
On several occasions, other than parents of other students, we have helped the family of Berta cediéndoles things that we abound: clothes, cribs, furniture and other stuff we are made unnecessary after a short period of time (things that probably were unnecessary from the beginning).
What we learned yesterday is that Berta's parents have come to raise the rate of late payments from a bank. Three months ago, who can not pay the monthly fee for your mortgage. Apparently have sought to renegotiate terms with its bank, but the only thing we have is going into the centrifuge of the debts with a powerful being called BANK. They had to choose: either eat or pay the bank. We know that for their daughters, they chose to eat.
Now we also know that they have abandoned everything. We now know where they are.
Berta will not go to school more. Is that my daughter will ask, sooner or later, why not go to class her friend, that if you are malita. And the truth is that it is not what it can to a girl four years in this situation. I imagine it will have to be a pious lie. Or perhaps, she will have to discover for themselves the reality, as far as we reach this crisis that we are beginning to pour over all. Because this is like a tsunami: we do not know where to get water. Today some of us to reach the knee. The parents of Berta has passed them over the head. How far we will reach us closer to the front?
Today, after the holiday yesterday, a chair will be empty in the class of my daughter. Maybe the teacher is agile and the allocation of officers to be noticed less. But the kids are more ready for what we think sometimes.
Today we fear the return of my daughter's school. I fear your questions, which are always clear and direct.
Today I care less, or maybe more, the price of a barrel, the value of Euribor or where you're going to breakfast Trich. Today alone I remember that little of it is not whether we will see. We do not know if happy smile on his innocence because his parents have said they are traveling, or if you want to cry because they see their friends in class.
Finally, for those of you who enjoy aparentáis daily with the misfortunes of others, for those who feel more pleasure with these things with a good cold beer in summer ... ... Remember, please, that beer you today to the tomaréis the health of a girl of four years. Remember, please.
Just a summary of news:
Good weekend to all.
Update: The government cut the growth forecast 8 tenths, to 2.3%
Written by Carlos Lopez on April 25, 2008 with 241 comments
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The Boeing 747 (the Jumbo) is undoubtedly the most famous airliner in the world and a veteran mainly because it was flying since 1970. If quisiésemos buy one, we would have to ask a mortgage of about $ 250,000,000 which would take us 30 years to a monthly fee of $ 1,342,054 (if this is professional deformation).
As surely we can not mortgaged for life or for the share of a month, SOÑEMOS and see some sights of this plane that I got from here.
- The wing of the 747-400 weighs 43,090 kg., Three times more than the first Boeing aircraft, the B & W in 1916.
- Its wing measured 524.9 m2, an area large enough to house 45 cars of average size.
- The fleet of 747 aircraft has registered more than 56,000 million km., Enough to make 74,000 round trips to the moon and has transported 3,500 million people, equivalent to more than half the population of the planet.
- The 747-400 has 16 wheels at its main landing gear wheels and 2 in the front landing gear.
- The 747-400ER can carry more than 240,370 liters of fuel, and perform extremely long routes, like Los Angeles-Melbourne (imaginaos if it affects the price of oil).
- A 747-400 on a route of 5630 km. and laden with 56,700 kg. Fuel will consume an average of 19 liters per mile.
- The first flight of the Wright brothers at Kitty Hawk could have been carried out in the section of coach class (45 meters) from a 747-400.
Impressive huh?. They are also the impressive sales figures, Boeing, which yesterday presented results and its earnings for the first quarter (1,200 million U.S. dollars) grew by 38 percent, more than expected. Like the results of Mc Donald's his weak dollar has enabled it to obtain these good results.
These days we are engaged in presentation of results for the first quarter of the year, and is key to know how it goes the march of the companies, if the crisis is affecting or not. For the moment, we see that clearly has affected the property sector and banking, the rest need further confirmation that we are already some surprises with figures higher than expected.
Clearly, the crisis that affects all of its real estate related sectors, which recently saw the sale of household appliances had fallen significantly and yesterday we learned that the store chain of electrical stores, electronics and telephony Ivarte goes into receivership ( composition, which they call now).
The other crisis we face, that of food prices, is becoming a real concern for some countries, such is the case that Wal-Mart (the largest supermarket chain in the world), is limiting the sale of certain types of rice their customers for the shortage of this product. The company says that its measure is due to "recent trends in supply and demand," he said in a statement.
The costs of food products have shot up all over the world, because of higher demand in emerging markets like China and India, competition with biofuels, high oil prices and market speculation.
The situation has led to riots in several African countries, Indonesia and Haiti. The secretary general of the United Nations, Ban Ki-moon has warned that higher food prices could undermine global growth and security.
The price of rice has increased by 68% since early 2008.
In conclusion, I learn that I admired Warren Buffet is going to visit Madrid and other European capitals on May 3.
The chairman of Berkshire Hathaway will travel, in addition to Madrid, Milan and other cities in Germany and Switzerland. 'The purpose is to meet with family companies, business owners, the typical European dynasties, "Moratti said when interviewed by Bloomberg. 'It comes with the idea that sooner or later one of these big businesses fall into their hands. "
Attentive to this paragraph:
Master big game, Buffett (77 years) seeks to prey on which employ 40,000 million dollars in cash that it has. The only problem is to identify a good opportunity, a company quoted at a price lower than its target value. The millionaire repeats frequently that it has' more money than opportunities. "
This phrase strikes me as key: More money than opportunities. Could it be that instead of having liquidity crisis, what there is is confidence crisis?
Written by Carlos Lopez on April 24, 2008 with 289 comments
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