The crudíveros and banks.
Not so long ago I saw in several ways irrelevant the news about the "crudívoros," some individuals quite peculiar because although not vegetarians in your life have never tried a roast lamb because they eat raw food. Many, they are still more pure and who practice naturism. As you can see a pelín away from our concept of life but despite everything, including such "tribes" it would very difficult to live without banks, so for this rescado this interesting article Can we dispense with the banks?
In a recent report by the Bank of Spain payment means that no more than 3% of financial operations in our country are paid in cash. The organization puts the direct debit of receipts to the head (46%), followed by debit cards and credit (31%), transfers (16%) and checks (4%), with the exception that in terms amount of the transfers highlighted with 76% of the total. However, despite these figures, the answer to the question of whether one can live without having any relationship with the bank, no doubt entails: Yes, it can be. No one can force a citizen to pay a receipt within its account, or to collect their payroll in the same way. In any case, the right thing to reflect on the "bank" of our life would ask: Is it wants to live without money in the bank?
Perhaps out briefly in new tribes called "efectívoros" which dispense entirely of banking services, but in that case I fear that will not reach too far.
When we read the news about the aid going to the banks, we took away their hands to his head thinking about why we give them, not to citizens. Unfortunately, banks are required in the world in which we live, both for the development of trade as to the proper functioning of businesses and consumers What would an airline without a bank to make a loan or ask the leasing of a airplane? And a car factory that wanted to invest in new machines? And for us, that we would have to buy the car for cash?
As we can see, this is a necessary evil and though escuezan certain steps I fear that something must be done in order not to sink the boat we are in, but let's see what other measures may have been in a crisis like this, we go for it a cast in black and 7 years we traveled back and a voice-over, hand in hand with Droblo tells us ....
11 S-2001 accelerated the downward trend in interest rates and, as has happened recently with the bankruptcy of Lehman Brothers, persuaded the authorities of the magnitude of the crisis and the need for extraordinary measures. This not only caused a sharp drop in interest rates, also keeping an excessive time in a move that should have been exceptional and temporary. The positive effect of these low rates was that the money flowed much more and revived the economy: more and more consumer spending and public finances (delighted with this) lower interest payments. The negative was twofold: the rising price of many nonsensical assets (from the shares to the oil passing through the house or rice) and the need for many banks to use financial engineering to increase profits, since the low rates reduced differentials and increasing the volumes of their speculation.
The consequences already know (summarizing far): Many individuals, many firms and many banks (and many states, remember the huge U.S. deficits) have been indebted in excess and the effect of globalization have infected their problems at all.
The credit crisis has led to the extreme opposite: nobody wants to lend money to anyone and do not care if the rates are high or low. That is the big topic of discussion: How out of the crisis without funding the projects, without a capital to build a housing development or a company or to hire more people? If private banks are reluctant to do so, there is only one option: that the state itself, will supply liquidity to the company.
It is admirable the value of the USA, and more with its macro figures, jugándosela to fix this situation by committing the income of its citizens for years but saving a certain banks, they will get back to grant credits, that people dare to mortgaged for decades, that companies are betting on a revival in consumption and create employment? I doubt very much that this is the way to get money to the society.
Many analysts talk about this crisis in the past but I do not think confidence has returned or will return in a long time with what is the whiting that bites its tail: do not invest for fear of losses and investment losses are irremediable. And for those states that means less income for VAT and indirect taxes and more spending on social security cover ... I believe it is imperative to reach liquidity is made to society and I can think of only one way: drastically reducing taxes and thus assuming the Kingdom Spanish-up to be returned via more economic activity, the task of debt by its citizens. If the money goes to households that have more cash we consume more and / or reduce our debts but if, like USA, is intended to buy the "pufos" of banks and savings, will only be achieved some few "save your ass."
PD. Contrary to what many believe-states and their governments are the first beneficiaries of low interest rates. There is no greater debtor in the world that the USA and certainly the largest of Spain is the Kingdom of Spain. From there you sterile polemics of the PP-PSOE policy on the budget surplus or not because the money must be, What does it matter that a year accounts are positive? If I permitís an expression very castiza: this is the chocolate of the parrot. Here are the details:
The debt issued by the Spanish state totaled 303,618 million euros on March 31 this year, to which were added to the state government, local councils, or that of Renfe RTVE (which is debt backed by the state) and so on. A roughly we can say that each must Spanish and 8,000 euros to pay some interest a year, assuming an average rate of 5% of that debt, of about 400 euros.
Euribor 12 months to a lower, therefore, is something very beneficial for the states that emit almost every week new public debt.
And stop closing, the usual summary of the press in a relatively quiet day:
- The market does not know that his history is doomed to repeat it
- Spain will end the year with about 930,000 new flats unsold
- The party is over: the fears of a recession reappeared in bags
- Crude: the loss of 78-79 U.S. dollars would approach the possibility of a collapse towards 50 U.S. dollars
- The bank bailout falling and the Euribor revives debt issues
- El Corte Ingles launches Allied White label 'low cost' for food, drugstore and perfumery
- Unemployment shot up to 70% petitions to enter the Army
(1 votes, average: 4 out of 5) 
Loading ... Written by Carlos and Droblo on October 15, 2008 with 354 points.
# 1, Valencia
Good morning, everyone,
someone I could say that is exactly the 3-month Euribor?
Thank you very much.