The economy of Homer (III)

The nuclear power plant in Springfield where Homer works, shows us an excellent opportunity to discuss the monopolies and competition.

In this monopoly, has come mainly by two factors. First by high barriers to entry (not exactly cheap to build a nuclear plant and will need several decades to be paid off) and second because there are no substitutes (in the case of Springfield have total dependence on electricity produced by the plant).

In one of the best episodes of the Simpsons (Who shot Mr. Burns, Part 1). Montgomery Burns, the owner of the nuclear power learns that one of the substitutes for the electric light was threatening its dominant position and fix it by buying the competition:

Smithers: Well, sir, certainly has defeated all his enemies: the school, tavern, the residence of the elderly ... should be very proud.
Burns: [looking at the money in your wallet] No, not while my great nemesis continue offering our customers free light, heat and energy. I call this enemy ... The Sun. Since the beginning of time, man has yearned to destroy the sun. Siguiete ... And I will block it.
Smithers: Very good!
Bums: Imagine, Smithers: Electricity and heating power running all day
Smithers: But sir! All plants and trees will die, the owls will leave us deaf ... and the sundial of the people will be useless. I do not want to be part of this project is unimaginably diabolical.

Monopolies are not always so exaggerated, dangerous and unfair. Sometimes it is more than a company with the creation of a "cartel". One of the best known is the OPEC formed by the major oil-exporting countries (They control 75% of oil reserves) which will cut production enough to trigger a price increase. That is the basis of a monopoly, its ability to influence the price of goods.

Other times monopolies are simply making good business, as was the case of the agreement between Google and Yahoo! they finally broke last week due to the pressures that were legal. Another good example was the aggressive distribution strategy from Microsoft that led him to the European courts for more than 10 years.

In the interbank, there is no monopoly but sometimes I get the feeling that they are acting as a cartel What if there is no explanation that the Euribor is ticking so high a differential with regard to the official price of money?. Recall that the official price money in Europe is at 3.25%, we are talking about a spread of more than 1.25%. The number of transactions that ultimately intersect in the interbank is so low that if a few banks are agree are able to raise the value of Euribor above its natural value.

Yesterday, a kind reader of the blog did an analysis on the value of the Euribor (12 months) at different times throughout the day and concluded that the value wakes with a relatively low value and growing as it arrives at the time of its publication.

Incidentally, you remember the method of calculating the Euribor as we have in the Wikipedia:

Daily calls to each bank to provide its reference interest rates present no later than 10:45 am To do so, Reuters creates a system in their private pages that only you can visit the bank and the staff responsible for the calculation. From 10:45 a.m. to 11:00 a.m. (CET) banks have an opportunity to correct their contributions if necessary.
At 11:00 am (CET), Reuters makes calculating the new value of Euribor, which eliminates 15% higher to 15% lower interest rates collected and performs the mathematical average of the rest of values . The result is rounded to 3 decimal number nearest to the value of the average.
After the calculation, Reuters instantly publishes the Euribor reference rate on pages 248-249 of its Telerate system, which are available to all its subscribers and information agencies. At the same time published the interest rates used in the calculation, in order to maintain transparency proceso.Yo add fourth point:
The value is published on this site and the server goes down (yesterday I made some changes and I hope that today will notice)

Taking into account the few banks that are part of the panel of calculating the Euribor (for example, in Spain is Santander, BBVA and ECSC) Will we be faced with a cartel of interest? Do you think that there is a manipulation of the value?. In the event that it did Euribor ¿offset a high danger of default.

On the theory conspiranóica, droblo leaves us an interesting comment.

As we discussed these questions, I'm going for a cup of coffee with churros and then re-capitalism.

Written by Carlos Lopez on November 12, 2008 with 291 points.
Read more articles on Euribor

[+] Reddit: This article stresses
[+] Del.icio.us: Add this article to Favorites
[+] Furl: Add this article to Favorites

The week in the markets (6-13 Nov) (Nov 14, 2008)
Real CPI (Nov. 13, 2008)
What inherits Obama (Nov. 11, 2008)
Gutting the mortgage. (Nov. 10, 2008)
Commentary and video of the week. (November 8, 2008)

Pages: [1] 2 3 4 5 6 »

291 reviews

Read the comments left by other users below, or:

Leave your comment

Pages: [1] 2 3 4 5 6 »

# 1, Carlos Lopez

November 12, 2008, at 9:22.

News Summary:

- The decreases in oil and food reduce inflation to 3.6%, its level a year ago
- ING recorded the first loss in its history by the financial crisis
- The number of unsold new homes rises over 20% in just half a year
- The bank credits exceed 800,000 million in total deposits
- Where do we stop the rescue of companies in crisis? GM and Ford opened the door to any company
- What if the Algerian friend closes the tap?
- The Banker Booty gets a line: wins 180 million euros
- Babies' Barack 'and' Obama 'invade the maternity U.S.

# 2 Duke

November 12, 2008, at 9:24.

Good morning everyone.
Let's see if today we are down ... down.

-2

# 3, Hand H20

November 12, 2008, at 9:25.

CORRDIDA of the charitable

In the bullring of Washington, next Saturday, November 15, an extraordinary run of the fair payment of the Macarena, to benefit the needy banks of the world.

At five in the afternoon will deal 6 bulls 6 of the famed herd bankilandia.

The skilled:

Obama "Morenito Alabama"
Nicolasin "the child of the Bruni"
ZetaPe "the girl Rajoy"

The picadores:

Lamerkel "the salt of Frankfurt chicha"
Brown "el Gordo Downing Street"
Barroso "finite Oporto"

The banderilleros:

Lula "less samba and more work"
Medvedev "the vodka of the Urals"
Hu Jintao "red Peking"

Bulls:

"Confidence" 650 kilos of astifino
"Transparency" 630 kilos of Bragado
"Financial" 640 kilos of black Zahinos
"Apalancao" 580 kilos throughout Trapio
"Economy" 600 kilos of black mohino
"Depression" 625 kilos of gray ashen

Chairing the race:

Robert Zoellik World Bank
Dominique Strauss IMF
Jean Claude Trichet's ECB

Music by the band "Spain Cani". Will be interpreted "the stool chocolatier"
May be cut off ears, but no tails
The flow novillero the queue "Busch mass destruction"
It has hung the poster of "no tickets".
It is working resale and has no seat at a good price.
On Monday, 17, be sure to read the chronicle of the race in euribor.com.es

+88

# 4, Jose

November 12, 2008, at 9:25.

Hello,

We remember the statements of Mr Lacalle in your living room real estate not? Those who did not waste ...

Well ... It is time to buy flats!

S2 and I'm going to re-Marxism

+10

# 5, Paul

November 12, 2008, at 9:31.

It's very hard to get to imagine someone is manipulating its whim on the Euribor, especially considering that this index is used for variable mortgages only in Spain. But everything comes from what has been said many times in this forum that is an unfair index on the basis that it is set to the whims of one party to the contract. But maybe ... Nose, it's like to think that there is a black hand in the UEFA against Atletico Madrid, there may be manipulation, maybe not. I decanted into everything and are chances that the banks interested in the rise of the Euribor not have much power the final outcome

-6

# 6, Darko

November 12, 2008, at 9:31.

Because he had not thought, but probably compensated. With delinquency rates below 5%, find it interesting that 95% who can pay, do so by 1 point above the normal value (1 point for a mortgage in half REAL are currently about 100 € per month).
Surely they play with it the value of maximum profit, where the defaulters are offset by what it pays the rest. I have no doubts they can calculate it, and that is where will the value of Euribor, at least until there is Interbanco operations and can use it only as a source of tax benefits through the mortgage.

Jo, just thinking that they might play well with us, and we injecting pasta better not think about it ...

+31

# 7, Pipon

November 12, 2008, at 9:32.

Prime varapalo seriously for the economic policy of Obama:

http://img230.imageshack.us/img230/1148/att7460407bz1.jpg

-20

# 8, Droblo

November 12, 2008, at 9:35.

Well, for once I can not agree with the theory of conspiratorial CLópez and fry a negative but I think I will say that by the nature of this web too much importance we give to the importance we give to commercial banks Euribor of mortgages.

First, what matters in mortgages is a monthly average and therefore the idea of manipulating per hour is not true. Already commented on Web yesterday that quoted prices for interbank had to be wrong with 4.30%, that price never existed in the market.

Second, the big banks, and those are the ones who make up the Euribor, have a lot of debt issued on the basis of the Euribor which is very difficult to know whether they are interested in a low rate or a rate high.

Third, followed by mixing the type of 14-day intervention from the ECB to be compared with the rate of 12 months of the Euribor. Yes, the difference is huge, but what you have compared the profitability that offers you the bank where you have the mortgage for a deposit to 12 months with the rate per year pagaríais if firmáis a mortgage now? Compare, and you will see that difference is minimal. In fact, I am convinced that you are at historical lows.

For the rest, CLópez, I still insist that also uses the Correcaminos for your explanations and economic influence in the benefits that he has only mark on the ACME.

+52

# 9, ruin Solbes zp unions

November 12, 2008, at 9:36.

What I think if you read the following in response to the following question?

Q: This crisis in their sector?

A: As always this, so the fact that there is a general crisis until it relaxes.

I replied right? I think about it really? I am happy? CME glad the misfortunes of ddemas? I am a bad person?
I am in solidarity? I am a gesture?

in a while the answer for this question is. Maybe some already know that this is going.

Good morning and good luck

-14

# 10, Pablo

November 12, 2008, at 9:36.

Every day I feel more helpless with another question ... How is it possible that with a barrel of oil below 60 € yet we are paying what we pay for a liter of carburanre? It's a shame. In the last week where I refueled has not dropped even a penny! They are thieves

+80

# 11, SA TRINXA

November 12, 2008, at 9:36.

For me the chilling story of the day is:

"The bank credits exceed 800,000 million in total deposits."

Does this mean that his liability is 800,000 million more than its assets?

Does this not called bankruptcy?

+17

# 12, jdx

November 12, 2008, at 9:38.

the first to congratulate clopez and partners, because it seems that the blog, day by day wins intact, and we feel some part of it in some way (no round off the topic of 11 to 1145 ....)

echoing the news today ...
I think most everyone interested in a low Euribor today, banks will charge a few more interested interests not to collect payments, it is logical. Nor is it logical that wherever you are, but we should wait between this month and next, and certainly fits a little difference. 1punto has fallen in one month, at the same speed (total value), which has lowered rates. it is assumed that although bajasen less, will continue to decline at the same pace, and that 1.25 should stay around +0.5-0.75 types.
and of course that is manipulated, it is very easy to say, but pathetic and unjust to think about it, but it is so. they know where they can tighten up, and is what they are doing.

clopez since hitting a look at my collection of the simpsons, to see if I give you another idea to make "the economy homer IV," sure there are any more ...
There is a very good homer that becomes the baron of beer, and another that creates sr.burns a company from an idea of smooth, catching fish with thousands of plastic packing cans ....

# 13, Pablo

November 12, 2008, at 9:39.

# 8, Droblo

In the background I agree with you ... But when I was looking for mortgage 6 months ago in Caja Duero, I fixed the value of the latest Euribor Euribor reflecting the monthly newspaper. After the revisions are no longer ... But from that point of view is important if the newspaper

# 14, Droblo

November 12, 2008, at 9:39.

Indeed, the plan of Saturday's G-20 + ZP consists of 3 photo sessions, two working sessions of 90 minutes each and one to each member of 7 minutes ... come on, or that they have already tood currado as Assistant Secretaries often happens in other summits or will it be known that the officials in person then via teleconference Curran is what the next few weeks ...

+22

# 15, Costernado

November 12, 2008, at 9:40.

Of course Clopez here that most believe there is a cartel and that in words what we call crstianas all tomadura dryer.

What steps would be taken to re-capitalism? ¿Come back to the Renaissance? (rebirth of the Renaissance rich and the poor, that is rich richer and the poor poorer) Classes average workers are not invited to the feast, and thank God, listen. That what is bad, at least me to stay as I am.

I suspect and I extend a suspect in the vaunted revival of capitalism did not notice, no, everything will continue as before, nor Obama will change the world (of course I am glad his victory, although afraid for their lives, so even if USA ), Nor the ZP in turn will open pandora's box, among other things because this case or does not exist or is buried in a casket of a pirate ship (banks) in the middle of the crater of a volcano (financial system) on a desert island (capitalism) in the middle of the ocean that is not (the world) (in order, as you know).

And that is to paraphrase a Forero who gave the key in a few weeks ago: "After tonight, tomorrow will dawn again."

Greetings.

+16

# 16, jdx

November 12, 2008, at 9:40.

# 10, Pablo
as easy as desperate as they are about gangsters and some nerve jetas the petrojefes. mia leads in 1 week nailed the price of the S95 to 0.975 unfortunate ...

# 17, jdx

November 12, 2008, at 9:41.

# 14, Droblo
this will be a meeting face to the gallery, and take some beer from coleguitas ... we'll see who steps out of there that really benefits us, or improve the current situation. at a meeting of Alcoholics Anonymous would best ideas.

# 18, ICG

November 12, 2008, at 9:42.

Good morning,

# 238, Enculator yesterday

Enculator, my friend ... I'm cojiendo honey! jaja!

I will put my opinion on what you're saying in the post 238, yesterday:

You say ...

1) "the brick is very punished over the past year" .... true! And so we left you to this sector and other sectors ... 5 years of not seeing "in the sticks where you fall."

2) "we ourselves are not responsible for what happened" .... Lie! What we all are. You .... of the most blame (who makes more profit is more guilty .... And this crisis should pay a share of the benefit that took each).

3) "rather the speculation of rampant greed and general pasapiseros" ... ... true! Greed general ... .. You, with your three floors without declaring rents ... ... and tell me they're position in the TOP TEN of greed. (The Pocero is in No. 1).

4) "It's going in earnest promoters we are not responsible for this situation but many people believe it .... Lie! Yes ... what are you all ... but more to be part of those who have lived it. Not that many people believe it ... that is what we believe ALL our dear government ... unless .... only missing you help with our taxes.

5) "this sector feeds many families more than any other. The responsibility for this situation are the only banks "certainly ...! Fed many families. But how many families are with the rope around his neck by increases in prices of flats which affects the size of the debt from mortgages ... with letters monthly scare? How many families and generations have Hangman for 30 years between the builders, the "real estate, the appraisers and bankers'? Giblets shady you have brought in hand, eh! Enculator!? Giblets pearls are made .... all those elements that I mentioned earlier.

6) "we bought a solar toward a promotion within the promotion before finishing people who had sold the most expensive homes, to stop the promotion of housing had doubled. We had to buy another solar then worth twice that and make housing more expensive and so on ... "... true! He spent what you say. This would have been avoided if giving the token payment was tied to the person who gave this token payment. You do not have resold the right before writing. Had passed the ball to the size of a marble ... .. now there is no solution .... the ball is the size of an asteroid .... GIANT a meteorite. This is no longer stops him ...

7) "we are not responsible for anything" .... Lie! You're responsible as the benefits you have earned. This applies to banks, governments, pasapiseros ... ....

"The ball has turned and turned and we always had more costs, more salaries ... but the benefit was always there of course, but it was always the same" ... true that the ball had turned and turned. Why stop it, right? If we were all rich ... jajaja! And the benefit ... always the same? That is not what anyone thinks.
... ....
(I still below)

+43

# 19, Positive

November 12, 2008, at 9:44.

I think that the Spanish and American banks are interested in this, because if the interbank rises, increasing numbers of people who can not pay, bad debt and increases especially in countries where unemployment is rising over the two cited and This despite the fact that the U.S. is around 5% and Spain at 11% or more, the better to charge a lower interest payment.

Good things that can bring the crisis, will end the wars of coltan?, Everything depends on the consumption of technology worldwide stas Christmas?, Is a mineral coltan, the tantalum, with a much greater ductility and conducctibilidad all known .

-9

# 20, ame76

November 12, 2008, at 9:45.

# 11 SA TRINXA,

as they say over there, those who know where you bank deposits in the Euro 1000 that they "authorized" to provide 9000 (or 10000, I do not know exactly). That is, neither of coña deposits must be equal to loans. So I do not understand very well the news. Someone I can clarify?

# 21, Pedro

November 12, 2008, at 9:46.

Hello everybody,
Congratulations to all.

I like the page and comments.
As for the chronic today, marking the fact that freedom that marks this, our capitalist system, so that the supply-demand regulate the prices of all goods and services dyed insecurity, almost irresponsible, at the base of the pyramid, the vast majority of those who only buy and sell anything, (with the sole exception of marketing in a sad meeting with human resources to try to raise half a point on the CPI rising our salary).
If we do not change the system of road pricing regulations, limitations on benefits or bags in anticipation of earnings season to face losses, we could think of a "union monopoly", ie that each guild check (via Reuters or similar) the price / hour of the plumber, architect, doctor, baker or pawn automotive.
And recast the labor system, for it will be refound.

I read every morning.
Going to be pretty.

# 22, Juana la loca

November 12, 2008, at 9:46.

If Spain in particular continues at this pace of layoffs, price, mortgage and debt, we are going to be a very poor country shortly, and will no longer be tightening its belt, and is barely accustomed to living well, these years have been nice, but unrealistic. All this from the crisis came after the entry of the euro, when all companies and individuals that could and had removed the black money and gave them equal to buy 3 to 33, he had to remove the top, then rounded almost double the euro, and we had to pay 100 pesetas to 166. After leaving the banks with cheap money around the world could pay or not. (Now those who can not pay because they do not leave them FIAN). And we all live above our means without realizing who we are, whether behind the door of your house have a monkey hung (labor) you know you can live as if your parents were workers and they cost much effort salilr, since know how to live. There is a very good song that says "You're a fool ..." hearken the letter because it is a reflection of society today.
It going to snow bone, it's 4 for 4 bone, bone duplex penthouse of what, what the holidays every year Bone, what brand of clothes bone, so I am of your superguay and a m .... Bone. That is going to finish a stroke, the crisis will make each one in its place and the cicadas are going to mourn muuuuucho!

+43

# 23, Solbes ruin zp unions

November 12, 2008, at 9:47.

ING recorded losses for the first time in its history

-3

# 24, ICG

November 12, 2008, at 9:48.

... And I still ...

(I repeat that it is my response to post 238, yesterday Enculator)

9) "What we've got to know is that housing is not going to fall by as much as they say here, as much could get to 10-15% as much" .... This is an absolute truth. Jajaja! (Enculator! I owe the commission to sell your bike! You and I know what we are talking about ... you do not Swedish).

10) "We are ready to deliver these homes to the banks if we had to further lower the price" ... true! You're so "tonto.sdelbote" that rather than get 6 billion euros to the floor ... it daréis to the bank and die with boots on. Then, your friend the banker, it auctioned with a discount of 50%. (yes, yes! 50% compared to current prices! me! If you intend to buy floor ... I heartily recommend that expect to 2010) And I do not invent what is going on right now ... in the U.S. However, in Ejpain not going to happen because we are the coolest of the global world.

11) "Before I would eat the bank, simply because if you are down more money and lose it is better to give it to the bank" .... Lie! The bank did not eat anything. The bank it break or absorb another bank looted ... they are so like you in this pyramid scam. The thymus is one of the estampita minutiae with what we have in hand right now. And if the price low now not lose money ... but stop WINNING. They have less benefits DOES NOT want that thing ... or think ....
12) "I defend the purchase of the rent because I get my numbers down and now that the mortgages over yet. Tb because I am a mortgaged more "... true! You leave the numbers ... not declaring the pasta in rents and making every possible shady ... hopefully in the next statement of income you analyze the last 5 years ... if you go you see the numbers or you do not leave ... ... HACIENDA where co.ño are you? (example: my parents reviewed them and had to pay 200 euros to be involuntarily deduct). Ojo! My parents! Currant mileuristas of the assembly line ... ... what you see normal? To my parents were investigated and the ca .. bron.cete of Enculator that disappoints us all ... no ... it investigates! Menuda mier.da of justice ... ..

13) "This fall in the Euribor was necessary to stop what could have arrived and at least we are already at very acceptable levels" ... true! The drop was not necessary ... to both tighten the noose on the mortgage! And is not very acceptable levels ... ask one of those Nissan.

14) "And this will make up the price of housing will be recovering" .... totally TRUTH! With this bajadita of the Euribor ... in two months we have floors going up another 50% and its price-story building 700 thousand per year in our beloved Spain.

15) "This is a very safe and will always be a good investment" ... yes, yes ... absolutely secure. Tell the "young" older who left last Friday in setting Accounts in Four. (You can see them in the You.tube! Look for "settling of accounts" and you will see that they are safe ...)

16) "Come down tomorrow" ... that it is safe. And good for everyone. But that does not help to get off the truly evil he is going to happen ... the unemployed.

17) "ACUMBAWEEEE" .... This war cry comes to hair ... because Spain seems the jungle. In six months, the street will be like for pisarla ... ...

And this is what I think of what you say Enculator! Each Forero think what you want .... and creating what you want to be believed.

As far as I'm concerned ... well ... you go because there is no where to get your words. More lies that Solbes and ZP together ... ... ..

Greetings and again, good morning !!!!!

# 25, parking

November 12, 2008, at 9:52.

Well, this is not compensated or not compensated for that! They are going to do the same operations with or without that little manipulation (say one or two tenths), but have you thought about how many millions of euros assume that the tenth for the banks? Keep in mind that banks enter money from other banks (and this price is out of the decision to raise or not this tenth) and savers (which usually have fixed differential) and I basically lend to companies and individuals largely in Products subject to the Euribor. I have no doubt at all that there is manipulation, but not large, probably between 1 and 2 tenths, but that does not seem much safer for them it is an outrage! In fact, one tenth is more than 7% higher return on their money if the difference is between 1.3 and Euribor Interbank!

-2

# 26, shocked

November 12, 2008, at 9:52.

Not! Juana la Loca, that I refuse to blame me for my current situation, I spent what I thought it appropriate in the light of my income. ALREADY WELL please españolitos of blaming the foot of the crisis, in which we have become, we stopped by manipulating media, politicuchos, banks ... etc?

Again I remember one phrase that was stamped on the shirts when I was a kid without worries:

"If we are not careful, the media will make it seem oppressed the oppressors and the oppressed appear oppressors"

Sanity please.

+52

# 27, funcionator

November 12, 2008, at 9:54.

Just yesterday, commenting the issue in a post.

It's a guy who is subject to a unilateral approach on the part of the bank (s) (the interbank market). Absurd if you think of cold. Why someone would admit that the contract conditions are changed in a unilateral way?

Moreover, until recently, it was what he had, someone commented on the forum your case (and I also did allude to it long ago) that in early 2000, when it began to build the housing bubble, the offer rates Fixed was so limited in terms of its duration and maximum amount granted that can be said that there were offering these products.

The point is that we tend to accept certain things with which one is born without questioning them thoroughly. I agreed at once that Euribor as we had and although he was aware of the economic risks of their swings, but I must admit that I am not the least questioned the substance behind that question and the rule today.

So in response to the question of Carlos, clear that the value is manipulated, and that's a sign that there is an oligopoly (poster).

I believe that greed motivated by their natural and economic situation more complicated when the banks' split cod "have the opportunity to do good business by manipulating the Euribor. The sequence of values from yesterday's close of Forero I think it is unambiguous.

As I said yesterday the consumer is unprotected and this is an area that is crying out better state regulation and greater consumer protection.

Philosophy as a variable rate for me, the consumer knows, is an adult and is free to reject it. What makes me blood boil is the outrageous handling of this sinister way through the back door of the conditions of the credit.

That is a fraud, no more no less, should be investigated and punished harshly by the authorities.

Therefore variable rates, but with an interbank market transparent, not an interbank dark spells and manipulation.

Now set the wonder of the Internet, this happens a few years ago and I, at least, neither I find ...

+17

# 28, Roco

November 12, 2008, at 9:55.

After reading this .... Http://www.expansion.com/2008/11/10/economia-politica/1226321602.html

I get the feeling that Spain is the third country in Europe

# 29, plum

November 12, 2008, at 9:57.

Two years ago, the so-called cartel of the lift (4 multi-sector), Germany, Belgium and Luxembourg, the court of jurisdiction punished with the maximum financial penalty so far by this concept (approximately € 500 million) by agreeing market prices. I think the "Cartel of the Euribor" does not differ much from this story that you, and I personally think that should be examined by the court of Competition.
But you imagine the extent that this might have, if you count in three countries and was affected by 4 multinationals. The "Cartel Euribor" would affect the entire European Union, and hundreds of bodies.
Should rescue?
Better not think about it

# 30, Droblo

November 12, 2008, at 9:58.

11 and 20

I do not know if he happens to you like but I know people who do not have liquidity but has properties, that does not mean they are bankrupt.

What of the 800 billion-if that figure is true, is something normal that happens is that there is a liquidity crisis that many banks (as many people and companies) are possessions but can not sell. At the Santander has happened, has had to expand capital because it has failed to sell Cepsa ... but that's not being in bankruptcy but have a liquidity problem.

The Duchess of Alba to be lined but if you have land and houses and decides to buy a large farm that he likes the same thing needs a loan secured by their properties because they do not have a cash so great as to pay cash and do not sell anything you fancy d elo you have because conditions are good ... and ... is something normal debt

Indeed, the year interbank deposit is 4.35% and the year is falling $ depo also quite ... there will be again today for the joys Euribor.

+13

# 31, J.

November 12, 2008, at 9:59.

The question, CLopez, is not whether the fixing of the Euribor (the Euribor, rather) is a poster or not, because it is so clear that it is ashamed.

The question, my friend, is why nobody does anything?

Because, instead of buying debt, offering a line of credit to SMEs by the ICO (that is, in essence, turn down the "Euribor" SMEs), what should be done, by law, is to fix the real interest rates to the official.

-1

# 32, david

November 12, 2008, at 10:01.

Today is my club and 4401 h for Gift entrance to the bull run on Saturday

# 33, Solbes ruin zp unions

November 12, 2008, at 10:01.

http://www.cincodias.com/articulo/empresas/ING-entra-numeros-rojos-primera-vez-pierde-478-millones-tercer-trimestre/20081112cdscdsemp_4/cdsemp/

-8

# 34, Sneha

November 12, 2008, at 10:03.

Good morning,

Why mortgages from ING that kind of the Euribor was signed as a minimum threshold of the Euribor? and maximum?

# 35, Poor Hablador

November 12, 2008, at 10:05.

Post on negotiating the differential (Bancaja)

Yesterday I was in this entity to negotiate the differential. Notice that my case may be quite unusual.

In this case, which is my girlfriend got into a hiccup before the meet (three years), with total disregard for how was the housing market. He then applied a Euribor +1.25%, in the only place where they were.

Makes approx. a year that we live together, and this summer I reported what had writing, both in housing and the mortgage. I realized that when he reviewed the mortgage we were going to beat a good stick, and as they knew were checking with the Euribor August, thanks to this site I found out the September 1 of interest that I apply, and around the capital that is payable and the number of payments. Yesterday we reached the patch, I equivcado by 87 cents.

We have been talking to the director of the branch about a months, always giving us long (two-day call you "). I suppose it would be expecting us to reach the leaves with the new calculation, because when he learned that we had stayed for the next day.

Once in his office offered us two choices: either apply a fixed interest for 36 months of 4.75% and that deadline passed Euribor +1%, or an interest in cross-selling in what is the Euribor +0.80%. All this with some fees, registration and management, because in principle does not contemplate a contract with the private entity.

The do not know that we live together, and I told her the possibility of further lowering the differential if I were to live with it by buying half of the floor and surrogates to your mortgage. We did so by having more "letters" with which to play. So I walked out an interest in cross-selling resulting from the Euribor +0.60%, but the costs are higher because you have to pay fees, management, registration and the most expensive of all, the tax on transfers of assets.

I think in the end I decide to buy half of the floor to my girlfriend, although individually because I'm not interested right now owning a flat, it suits us both as a couple. And that's more important.

A greeting and thanks for keeping this forum, thanks to him I have gathered information without which perhaps would not have been able to go to either negotiate with the bank, or ask us to lower the interest. Now live with mortgage ... but at least knowingly.

+50

# 36, Ramo

November 12, 2008, at 10:06.

When the river sounds ...

"The bank ING comes first with 478 million in losses"

http://www.elpais.com/articulo/economia/ING/entra/primera/vez/numeros/rojos/perdidas/478/millones/elpepueco/20081112elpepueco_2/Tes

-13

# 37, ICG

November 12, 2008, at 10:07.

Let's see ...

We all agree that unemployment is our biggest problem? Because for that you may know ...

No. The real unemployed who are in the country ... is not that we are told.

In the following link
http://www.tt.mtin.es/periodico/laboral/200811/parooctubre2008.pdf
(p. 19 of the paper) we can see that job applicants, that is, those in real total nearly 4,000,000 people. What happens is that the government rig the figures as follows:

Divide to jobseekers in three parts:

1 - Plaintiffs OCCUPIED employment, who are making workshops (661,239 people).

2 - Applicants for jobs with limited availability (those that indicate WITHOUT JOB application in special working conditions just as at home, telecommuting, foreign, etc ...) who joined 157,706.

3 - Plaintiffs employment OCCUPIED NO (DENOS). Here from February 2008, the ex-minister Caldera and therefore the government, this group was divided into two parts. On the one hand we have the registered, which is the official data that the government recognizes that there are as unemployed (2,818,026). And on the other hand we have within the DENOS, the collective "other non-occupied" which are those that require pre-employment services, "we are the much vaunted Tippex of Caldera, of people who supposedly" needed "services such as pre - courses, etc.. to appear on the lists.

In conclusion, if in February 2008 had not begun to use the Tippex of Caldera, now have almost 3,100,000 registered unemployed and not recognized 2,818,000.

And another thing, the No. REAL unemployed, that is, jobseeker is nearly 4,000,000 people, 3,902,508 specifically. If we bear in mind that the No. affiliate of 18,900,000 is now affiliated with the SS, the real figure of unemployment is 17.09% unemployment.

For veáis how they work and how to rig the statistics, nearly 1,100,000 people hiding from the official lists.

Saluditos friends!

Welcome to Springfield.

+38

# 38, eltonto

November 12, 2008, at 10:07.

In any case, which raises CLópez makes it clear that the value of Euribor can be handled, especially if the operations a year are almost nonexistent.

# 39, Miguel

November 12, 2008, at 10:11.

The Euribor is used almost solely in Spain. I would support a change in the index, so that the reference to use and manage define the Spanish government in an objective, taking into account many economic factors. All mortgage contracts are reportable to the Spanish justice for "abuse of law" by imposing on them, clauses fraudulent. Who is the baby going to court and crack this system at once?, Everyone would appreciate it. Sure that a judge conculcaría mortgaged with the idea.

# 40, Cartilina

November 12, 2008, at 10:12.

To all this I have a doubt, because it's great that the Euribor down and also to take advantage of lower differential if possible so my question is: is a good time to go and negotiate terms to my bank?

I say this because I have a mortgage for 4 years and a half and I are charging a spread of 1%. It seems to me something very IBANESTO and offering me this change to your bank to 0.40% by paying them the cost of changing mortgage.

But my question is this, it is good time to go to my box (CAM) to ask me to lower the difference?

# 41, Carlos Lopez

November 12, 2008, at 10:14.

# 8, Droblo
Undoubtedly, the Correcaminos give for a good article on white marks (Acme)

# 42, Droblo

November 12, 2008, at 10:14.

37 ICG, in the USA are complaining of exactly the same thing ... the official figures it is clear that we must take them with tweezers ...

# 43, Anonymous

November 12, 2008, at 10:14.

http://www.swissinfo.ch/spa/noticias/internacional/El_IPC_interanual_a_octubre_baja_9_decimas_al_3_6_por_ciento.html?siteSect=143&sid=9960245&cKey=1226477488000&ty=ti

http://www.cincodias.com/articulo/economia/IPC-armonizado-sube-decimas-octubre-coloca-36/20071030cdscdseco_2/cdseco/

ANYONE WOULD YOU BELIEVE?

Toca reviewing salaries and pensions, which plays down the bill but not super low not ..

# 44, fyahball

November 12, 2008, at 10:15.

A lack of awareness and technical data from the server which supports, etc, it's really horny or rather dramatic, that muuuuchos users to connect every day to know the value of the Euribor. This value affects a percentage approx. 1 / 20 to the monthly value of the Euribor, which in turn, must affect 1 in 12 of the mortgaged with annual review and 1 / 6 of which is reviewed every six months ... say a lot of people and so tight as to lambast look every day the act ...
Those who have been mortgaged with head, the value of the Euribor daily peels ... That is: CHUBPREIM AND MUCH MUCH BURN DEM ALL!

ps (I have not seen in euribor.com.es ONA www)
To make calopez can be sure that numbers, well, it makes sure that this is the first thing you want to know advertisers. By the way, with Conae seafood from the paging system (which I have recurrently attacked jejeje) sure that the page views and thus advertising impressions have been due to multiply by 3 or 4 ... I am wrong calopez? Let it be clear that I am one of those who abused F5 jejejeje

-9

# 45, Eduardo

November 12, 2008, at 10:18.

Hello!

I think the point of view of the spread of the Euribor you use today is a little "stale". In fact I believe that the data does not conform to reality (not in time, but if the values), although it is highly probable that I was wrong, because I'm talking about where bells were not heard, so that if I wrong thinking "is that if people hear bells and does not know where" instead of "watching the listillo ...."

I think the price of money, as of today is 3.75, bringing the differential to date is 0708.

And I say that because I think the price of money is that, well, the European Central Bank tends to announce at the regular meetings worth the price of money often come into force on the 15th of each month (in the previous lower rate I am 100% sure that was so, the November could not secure it).

Therefore, even though "the future" on November 15 to the price of money is 3.25, is still selling until that date to 3.75 and obviously the banks are not cut rates before then, because they actually would cost money.

On the other hand, if there is some competition, and to the prevision of that drop, banks with small-scale until the day of and effect of the descent, and the following 8 or 10 days tend to align the interests that they (the differentiating confidence of lower official rates) leading to the Euribor to a spread that is usually around 0.75 (0.1 up or down) lately. Obviously there have been moments in the last months of 1.25 and even 1.30, but I think the crisis of confidence, objectively, there has been no?

Anyway, my point of view is pure observation, as when the cows grazing beside the road watching as the train passes, but ignorance is here I do my very bold prediction (with a little cheated because it seems to be waiting that the ECB will lower rates again in December ...):

To be consistent, between 8 and 10 days after the date that I think came into force lower rates (15nov) the differential will be 0.75). With all between 24 and Nov. 26 the plant in the Euribor was 4.00.

Ahi is that!

Signed:
Rappel ... ah, no, Eduardo!

+24

# 46, saspiki

November 12, 2008, at 10:19.

# 37, ICG

Leger Personally I think the thing is upside down: there are fewer unemployed real, what the statistics show. If you really had 4,000,000 million families with serious problems to the basics this would be the revolution. There's a lot B, while it takes a lot of people going to work, many targeted by if called to clean up a bank (as he told a lady to a job offer dishwashers for) ... .. 4,000,000 which is 10% of the population , In families more.

+11

# 47, ICG

November 12, 2008, at 10:20.

For what he said ZP ...

He was going to pay half the mortgage on all mortgaged with a slope of less than € 170,000, with family and are on the dole.

Apart from those who are to come, if there are 3,000,000 on the dole (REAL), who are in these circumstances may well be referred to 1,000,000, because it is normal that you are given a home mortgage IF you work. Now they are unemployed, the government offered to bring forward the payment of half of the mortgage for two years and, with a maximum of 500 € and, what is worse: the ICO would take over the failed (defaults ).

So far, "well". Now are some considerations that I put to discussion:

1. Let's take accounts, because unlike ZP, mathematics are not deceptive. Let's assume that there are 1,000,000 applicants, among those who are entitled and which will give "low" in the SS for charging
three sides (INEM, and the company of mortgages). If we take an average of 400 € per beard (or "face"), we have:

€ 400 persons x 1,000,000 x 24 months = 9.600.000.000 € = 1,597,305,600,000 pesetas.

I mean, we're going to spend IN FULL RECESIÓN more than 1% of GDP in an operation POSTPONEMENT of the slap fat.

Well. We continue. This measure is clearly discourages the payment and collection of the mortgage, because if you do not pay the mortgaged, the bank will simply pass the ICO office, and what we pay ALL the Spaniards.

It is clear to those who favored a des-government "socialist" and "worker" (ZuPuta mother).

2. As I outlined at the beginning, this measure, in my humble opinion, discourages the use (in "A"), as a guy can ask to work in "B" (in black) to catch on three sides: the INEM, the charging unemployment, the grant of the mortgage, and his full salary. Then the propaganda of the Government said that "we are all Finance" (and bullshit that are eaten ZP and all those who supported him).

3. Following this, we put a case. An uncle is gaining unemployment (800 € / month), requests the aid and give you 500 € / month. If you pay a mortgage of 130,000, leaving him at the present rate around 780 € / month, which left 520 € to live. ¿¿Do you drive this person find / accept employment? NOTHING, because if they find employment, gets € 1,000 in salary and without the benefit of the mortgage, thus losing € 200 and above, has to work Do you see the trap? And if you make quick in "B", El Tio has triumphed!

4. Finally, a thought: If we take into account the words of the President of Banco Pastor, the start of recovery from the crisis goes for the last quarter of 2010. This is the beginning of the recovery. This implies that at the beginning of 2011 few will be willing to pay mortgages increased by this delay. Taking into account that other countries are prepared to grow more intense (those that are in the "Champions") that generates "fresh pasta" and that "fresh pasta" generates inflation, the European Central Bank will have to have high rates and will be the lace for the mortgage.

http://www.invertia.com/noticias/noticia.asp?idNoticia=2045510

What would happen then? Well, two things:

a) The state assumes the failure and goes to the pen or do as the "great statesman" and a friend of ZP, of Chavez, Evo Morales' ... that des-ruling Argentina, who has stolen (legally, yes) for the money private pensions of all Argentines. God creates them and they get together!

b) A second crisis in which the state is sinking before the fall of income due to lack of activity by increasing costs and, because of the enormous outlay of paying all mortgages have failed.

In short, ZP is only delaying the inevitable and, worst of the crisis is that instead of lasting a couple of years, will last 4 or 5. God gives everyone what you deserve ... That said, is not it?

Salu2.

-10

# 48, Tranceformer

November 12, 2008, at 10:22.

Developments in the interbank today

(Yes, I know, I said I did not look more, but basically we will march to the tod @ s)

Value interbank 12 m

4.39 h 06.40
4.39 h 07.40
4.38 h 08.38
4.35 h 09.08
4.35 h 09.28
4.32 h 09.58

Let's see what they do today.

I wish that for once you do the reverse.

A greeting

# 49, Pepe33

November 12, 2008, at 10:25.

There are many things that do not work as they should, among them are many indicators and institutions, some of them are outdated or is it possible that with the knowledge of
operation was "Aman in favor of those who have that knowledge as possible that this is happening with the Euribor.
Also happens to the crisis we are experiencing, it may not be really financial, I am inclined to think that the crisis is more political, if we complain that few banks in an index can alter it, we should not complain that there are few of political parties to choose?, we should not complain that there is no index "euro-politics-promise" to know how to act really matches?, rather it seems that the problem is political, caused by politicians and perpetuated by politicians.
It is possible that the current experience is strange draw conclusions: if it had remained "the corporation Argentaria" in the public sector, the government would provide all the aid that promises to the banks to it and putting it to give mortgages to the speed necessary All other banks would have to put the batteries in entering the game, managed credit.
Moral: The public sector can create competition and stimulate research.
Many will say to me that history does not work that way ever, have reason, politicians used to control a tight hold on to power, when really his function is to change the state of things with laws, which distorts the effect on the market that could cause Competition in the "public enterprises".
I therefore believe that the main difficulty we have is politics, we should reduce the level of politicians in government, reduce its mandates and return to the public policy decisions using electronic media, which in the end are always those who are the reason.

# 50, magdalena chocolate

November 12, 2008, at 10:27.

# 48, Tranceformer

you do not know if you've seen but there was a time when it has been in 4.52 and then fell from a coup 4.38

Pages: [1] 2 3 4 5 6 »

Leave your comment ...

Remember: Never write on hot, think, breathe ... and do not feed the "Trolls"

You can use these tags XHTML: <a href="" title=""> <ABBR title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <'s datetime = ""> <em> <i> <q Cite=""> <strike> <strong>.