You're watching the articles of Euribor for the month
A quick point: The Euribor de Mayo is located at 4994% and finally falls to two-tenths of its historic peak, the 5248% reached in August 2000, which is an annual review of +0621% and half of +0387 %
Written by Carlos Lopez on May 30, 2008 with comments not permitted
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The usual forum will be used in approximately one or two days a month left sections programmed as I am going to travel. As there are tourism and expenses are paid by the company, I take taxis to pick up and make a small exploration of how consumer sentiment is talking to those who are pseudopsicólogos and oyepenas taxi drivers. One can deceive you read the comments on this blog because it will be very biased by the articles I write, and my usual economic pesismismo. However, things have changed a lot in these last 6 months and no one denies that something strange, if not bad, happens in the economy. It is interesting to see how people are learning some financial concepts based milks, is becoming more common to hear talk of Trichet, inflation and Euro-Dollar exchange, half a year ago when those words mattered to him only a few Raritan.
The taxi driver yesterday made me their particular situation analysis found a clear culprit that symbolized the main cause of the problem, so a customer called him "The credit 10" is that the loan of 10 million (pesetas), which many called for buying a Porsche Cayenne "the icon par excellence of excessive consumption.
The government has another taxi driver, which is called CIS that shows some similar data as more than half the population, 52 percent, think that unemployment is the main problem of Spanish society, while the concern about economic problems do not stop going up and falls, according to the latest barometer of the CIS, at 48.4 percent.
And no escapes since we have no sector on the one hand that a liter of diesel is higher than 1.3 euros which will be distributed Fishers 20 tons of fresh fish to the Ministry.
And all this, coinciding with the tenth anniversary of the ECB to which many view as the culprit of the current situation.
Therefore, the ECB and the euro have affected more than evident in our daily lives. Even fostered a tradition as Spanish as a rogue. It emerged soon after birth of the euro and acquired a very concrete way, rounding, whose manifestation lived in many of the products worth twenty cost passed tough ... one euro. After all, those prices could pay with a coin. This meant that the psychological impact was minor. Only had to deliver a coin ... but the first worth 100 pesetas and the second ... 166,386 pesetas. The euro is what I had.
Finally, as Friday is playing highlight "the comment of the week" that to which you have granted more votes this time has been greatly disputed with the second most voted:
# 1, Great Truth
May 29, 2008, at 8:20.Well it's true ....
How many times have I heard:- Commit to reform the floor for 20 kilos ... This reform and already worth 30 kilos (and only he had been painted and cleaned)
- Le Pryca get a console in the living room ... and already has air conditioning, a kilo more.
- Within 10 years will make you a lift because ... 3 kilos more.
- In addition, it will be well connected within xx years ... then another 5 pounds more.
- I put two of furniture ikea ... furnished, as 5 kilos more.And my time buscapisos, until I learned languages, there are some definitions:
Flat or very small minipiso: a flat is "comfortable".
Floor falls below that of old: it is a flat "rustic".
Indeed floor dust and vacuum: it is a floor with "possibilities".
Floor of a bedroom + kitchen + bath boy: a flat is "ideal couples".
Floor, fifth without a lift: floor is a "very bright".
Floor in the back of beyond: a flat is a "5 min. from the center. "
Floor inside: a flat is "very quiet".You can make more definitions, or wait until the next issue.
Good weekend to all.
Written by Carlos Lopez on May 30, 2008 with 287 comments
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Why do people think your house is worth more than its neighbor? Why is what I like better than the other?.
The economist Richard Thaler, defined for the first time this behavior ( "Endowment Effect" or "endowment effect") as the fact that individuals generally require much more money by selling an object to what they really are willing to pay for a purchase.
Another economist John List conducted a study to see if the experience in the market to eliminate this effect and it observed a real market in which they exchanged souvenirs related to the sport, such as photographs and autographs of athletes American favorites.
Participated in this market buyers and sellers with varying degrees of experience from which one group was selected and given a choice between two objects (A and B) that were reminiscent of important sporting events in the history of baseball. After being fitted with the fine, the participants were able to exchange it for another asset, in a transaction.
Objects that were delivered, as well as being of equal value, were not known in advance by the market, ie it was unique objects so that participants could hardly determine the value that the market would give them to any of the property.
Finally, List noted that while the subject had less experience, were less likely to conduct a transaction, despite the fact that he had made a good offer for his property. So contrary, those with more experience made numerous transactions, as the willingness to pay for part of buyers tended to coincide with the willingness to accept by sellers, so the effect was not seen Manning.
As you can see, buyers and sellers in this market professionals were leaving because they could win their release emotional value of the product.
In real life, that of the houses instead of stickers, the same, hence the speculators always will triumph. So, if you're on the side vendor tries to get rid of the endowment effect, and coolly analyzes it really worth your floor.
PS: Today I'm traveling, so the news of the day we read the reviews in zone.
Written by Carlos Lopez on May 29, 2008 with 276 comments
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Not long ago, we speak here of the Boeing 747 passenger plane the world's largest, until Europeans arrived with our Airbus 380.
Today we are talking about the 737, with 5,000 units sold, is the aircraft for transportation of passengers and produced more popular in history. Here are some curiosities:
Impressive huh?. But as you suppose that the planes will bring to the fresh talk of another 737 that them you are interested and is in the box to the tax return that you must not be forgotten.
Buying your home before January 20 of 2006?
Well, do not forget to make the statement of income to fill the box number 737, because, as explained in today's edition of El Mundo, "people who bought a house before that date with a mortgage covering 50% or most of the cost of the floor are entitled to compensation for legislative change introduced by the Government, which has fallen to 15% across the deduction for housing. "Father in the program must fill out a flange and box 737
Earlier, the newspaper says, "relief during the first two years was as high as 25% for half the maximum that can be deducted (9,015 euros) and 20% for the same amount during the following years." So they do not come out losers with the new legislation which became his home before the policy change added to the declaration of income tax compensation. "Thus, the deduction can be increased by up to 450 euros for those within the first course (225 for the second)," said El Mundo.
Apparently, the newspaper reports that circulated on the internet email that warns of this with the following message: "If you have already handed over the declaration revisadla and check the box that you fill in the 737. It refers to compensation because the mortgage prior to 2006. "
The notice is being sent to people who make their statement with the program or by FATHER confirmation of the draft.
The program FATHER
If the user makes the statement to the program must fill out a tab FATHER and additional box 737. Those who are entitled to compensation, access to the display of investment in housing usual, will have to fill the tab for compensation for house purchase usual.
When you enter the date of purchase, if prior to January 20, 2006, the message: "Check the numbers reflected the purpose of compensation for investment in the acquisition of housing habitual completed before January 20, 2006 with funding of Others ". Then, the user, says El Mundo, you must click on the tab for compensation for completing box 737.
The draft
In this case the compensation, the newspaper says, is included if the home is bought before 2005. In this case, the Treasury has sent drafts without compensation included, so you will have to rectify the draft.
And now all conspire to. Are tax or not? How much would be spared thanks to this dismissal?.
On the other hand we have the news yesterday that invaded television current affairs programs of low quality: floor auctioned by five euros. Yesterday our reader "Dinky" commented:
I have not seen a guy WITH MORE FACE HARD IN MY LIFE ... the guy has a pretty bad floor and putting in Ciempozuelos face lamb being slaughtered and the victim said that "given the impossibility of paying what lot by five dollars."
What is not said (only by reading the bases) is that it has delivered 64,000 ballots to 5 euros each and that until we do not sell ALL draw the floor, also "in no case will return the money from selling papers."
This smells to me rogue, and if it goes well, recognize unhealthy envy.
Today I'm traveling, so the interesting news of the day we read the reviews in zone.
Written by Carlos Lopez on May 28, 2008 with 243 comments
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Corner the market is a technique through which speculative buying large amounts of a specific raw material in order to manipulate the price. It is often carried out in various ways, mainly through the futures market, buying futures contracts that raw material and then sell when the price is high, the result of financial maneuvering.
This practice is quite common and even Warren Buffet has done so ever, simply pull archive (aka Google) and see this article from 10 years ago.
The price of silver reached its record price yesterday of the last nine and a half years after the U.S. dollar and investor Warren Buffett announced it had bought 129.7 million ounces since last July.
With this strong game, that Buffett's investment company, Berkshire Hathaway, has amassed silver with an estimated value of $ 850 million (about 131,700 million pesetas), and has come to control 20% of world production of gold beautiful, according to estimates by the signature.
This movement recalls that much to nearly 30 years ago starred Nelson Bunker:
From 1979 to 1980 had not been given a similar movement in the market for silver.
At that time the uproar was played by the billionaires Nelson Bunker Hunt and William Herbert Hunt, which the Committee of Futures Market for Raw Materials accused of buying more than 100 million ounces of silver for just over six months, the firing price to 52.50 U.S. dollars an ounce in January 1980. In March of that year, the price of silver collapsed and fell to 10.80 U.S. dollars an ounce.
In that case, the gamble they went wrong and who risked too much, they caught all the drop and virtually ruined.
In the case of oil, is having another pint of the big bubble, at least that's what George Soros believes that it knows a little while.
"Speculation is increasingly affecting the price. It has a parabolic shape typical of the bubbles, "said Soros, according to which the bubble does not burst until the United States and Britain both fall into recession, after which prices could suffer a sharp drop.
"The rise in oil prices and food will aggravate the recession," says the investor. According to Soros, Britain is facing its worst economic crisis in living memory, far more serious than that of the seventies and early nineties, adding to the recession the effects of the collapse of the real estate sector.
Mal landscape painting, expensive fuel and food in the worst economic crisis in living memory.
We should worry that things go wrong for England and the United States, as the unit that has the European continent from them is huge and if it is not enough to check what happened yesterday in the bag. With both markets closed, we have the volume of trading was the lowest in a year and the Spanish stock market rose a mere 0.04% while the European declined by 0.02%.
Greenspan was wet yesterday and said that "There are more than 50% chance of recession," though it does not get wet much as there are a lot of difference between a 51% or 99% ... And as in all of this mega-apocalyptic that does not leave us nor to eat, we have to Vodafone results show that a record 8270 billion Euros.
I no longer know if something happens or we complain vice.
Written by Carlos Lopez on May 27, 2008 with 276 comments
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Much is spoken in the price of a barrel of oil but do you know how many liters it?. As with these things, those who are Americans, the answer is measured in gallons, namely 42 or what is the same, nearly 159 liters. So doing accounts, leaving us that the price of a liter of oil is just under $ 0.85 or whatever it is the same € 0.54.
Yesterday I read in the pages of salmon following the El Pais article: Mineral water at the price of gasoline, we consider the following:
Two half-liter bottles of mineral water brand Fuensanta, in the cafeteria that serves the staff of this newspaper, cost a few cents more than a liter of unleaded gasoline of 95 octane at the pumps in the nearby service station that flag Repsol. There are few businesses as round and as simple as packing of the water and sell it for consumption as an alternative "healthy" to the pitcher and faucet. In Spain over a hundred companies, led by several multinationals, and some 4,500 people, including direct and indirect employment, living in this lucrative invention generated in 2007 and together, according to the National Association of Water Companies Beverage Packaging ( Aneabe), a turnover of 850 million euros.
Curious, bottled water costs up to 1000 times more than the tap. Although it all depends on what cojamos water, for example the "Bling H2o" that rises in the modest amount of € 50 a bottle. Here that if the package is more expensive than the content because the bottle containing Swarovski crystals.
It appears that the water there is not much competition with beer, proof of this is that in some places of Great Britain branded white beer is cheaper than bottled water.
That this world, now that gasoline is more expensive than beer, and it costs more than water ... Good thing we had left a rainy May and who knows if this will raise our GDP.
Fortunately we do not have to water as wild speculation like that of the black gold, where 25% of the negotiation is in the hands of speculators. Attentive to this quote:
Between London and New York was quoted at a daily amount of oil that exceeds 10 times the actual consumption.
So it would not be surprising to see him make contributions above $ 150, as many experts point out.
"In normal weather conditions and geopolitical oil should reduce the speed of his career rising prices, but there is so much instability that fork in the price of oil is between 60 and 150 U.S. dollars, reaching the latter price in the event that Violent cyclones had this summer in United States
Okay, I know, this blog is called "Euribor" and we should talk about interest rates, mortgages and other, but the inflationary burden which we added the raw materials is so strong, which prevents Trichet to lower rates, so we have to follow with special interest. However, far-fetched story that the next meeting could be entitled as a riddle: "What is Reverse, rechargeable and floating?". That's ... New types of mortgages have low demand. Let's see what it is.
The reverse mortgage. Product is targeted at people aged 65 years and dependent owners of a home. Aims to be able to sign with the finance company a mortgage loan from his house by which receive a regular income until the moment you die. The amount of those monthly payments will reimburse the bank will depend on how old you have to hire its credit and the state of the property.
The mortgage rechargeable was another major developments with which it was presented in the company law reform undertaken by the Economy at the end of the last legislature. It was designed in an environment of rising interest rates in order to make more bearable to households that tightening access to credit, after a decade of very cheap mortgage rates. It provides an opportunity for owners to re-borrow the amount of the mortgage and finance have already written off that way at a lower cost purchases of other goods and services like cars, travel or training courses abroad, among others.
The mortgage or floating ceilings, designed to secure a single mortgage with all those obligations, existing and future, or that there could be reached between creditor and debtor, and which aims to improve the financing of small and medium enterprises. In this case, the experts blame the economic crisis and the short time since the adoption of the new rule shortage of such loans.
Good Monday to everyone.
Written by Carlos Lopez on May 26, 2008 with 218 comments
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