In the normal financial system, which are banks, the institutions have all owners are represented by the respective boards of directors. These tips caring for their own benefit, not to lend to companies that are insolvent or can be assumed that in future it is found that there are problems, provisions such loans, and proceed to execute warrants that have little if that exist. But the bankers can not do what they want with that handle credit and the bank is not theirs. Are accountable to shareholders, depositors before (because misuse of credit can break the bank and lose all their money) and the public finances if, for example, is considered a loan as an expense in the knowledge that would not be returned.
That was the case of Mario Conde who was sentenced to six years in prison for paying 600 million pesetas for a company, Argentia Trust no guarantee (which later proved that it then distributed the money among various Spanish politicians to influence in governmental decisions in the interests of Mario Conde was not the reason for his detention but he gave the money without collateral Banesto). I know that in recent times and bankers in some countries have ignored these rules and to cap it had not been punished but for the moment in Spain are not in that situation and all the banks are reporting profits.
Unfortunately, the savings in the hands of local politicians, it can grant credit without reserve and without running guarantees, especially political parties, or can not?, Or may not be? If it does occur quite frequently ... And now it is intended that these boxes are made even stronger, uniéndolas. No doubt it is a good solution for their survival (in exchange for thousands of layoffs, though) but also magnify the problem of those entities whose management is so unclear.
The boxes have lost their land, opening branches around the country and even have the largest investment abroad. There is a market Murcia, La Rioja and the Basque, a European level in the category regionalistic no sense. It could be said of its social function, but this is a vague concept which is not quantifiable and spending that could be replaced by an increase in tax relief to certain tasks such as banking sponsorship of culture. If you become the greatest pass two things: whether it is within a community of its economic importance is so great that the economic and political autonomy is even more confused if we unite and boxes of different communities, how to ensure balance, how to unify if the political influence of each region is different, and still remain the same ensuring that Cajamadrid-for example, is just in its social spending with Murcia case to merge with the Fund in Murcia? I believe the management problems worsen.
(more ...)
Written by Droblo on December 3, 2008 with 294 comments
Read more articles on papers.
The black money is one that is not controlled by the authorities and may be either legal activities (the smaller, usually occurs when writing a retail value of the house is actually traded or not declaring income from a rental etc.y is the easiest is detected) or illegal activities, the more damage it does, both the Treasury, because the volume is huge defraudatorio, as by the social implications of such illegal activity.
Outside these two groups have prostitution in most cases is simply a alegal (unregulated) but worth a huge amount of money that escapes the tax (€ 18,000 million a year) and is known for and all accepted. I wonder why? If we know that some people have an income for work they do, why not pay? And we go into the hypocrisy, the obvious collections of laws and so obvious that having social security, contracts and even the very existence of something that seems to many like the inconvenience that some people rent their bodies to others for a limited time .
But the most serious cases are those that include the black money from the trafficking of arms, drug-screen companies that never paid taxes, terrorism and so on. All these crimes and generate some more money, mostly, we know where he is. Yet we continue to prefer to pursue the camel neighborhood or the owner of the club Puti before tackling the root of the problem. I speak of course of the tax.
These are areas (in some countries, sometimes not) to protect the identity of the companies that have and / or bank accounts there. It is clear that the companies that have and / or bank accounts in a tax to the Treasury seeking to hide something in his country. We all know and also what the authorities know. And we should not go too far because there are even within the European Union but outside its jurisdiction as is the case of Gibraltar as a British territory, 1 (in this page you can view the list of tax havens).
Why is allowed to have sites where they can escape the capital would do much good in their respective countries is something we do not know but it is terribly unjust punishment to those who suffer because of our lawful activity and charge for payroll, we ultravigilados by Treasury. However, apart from the actual crime prosecutor, the most serious and most unfortunate, and of course, the most hypocritical, it is possible, because if these paradises exist and could not have control of large flows of money move in the world would be much easier to break the networks of illegal activities. Drug trafficking, as we understand it at present, would disappear, the money diverted to terrorist groups is quickly discovered, that is, win in the economic, social, political ... as not only increase the income of the Treasury, disappearance of entire networks of subversive activities.
Thus, there is no excuse. Why wait?
PD - The official liaison USA every month we see the source of the flows of foreign money to invest in assets that country. It is very interesting in itself but what is striking is so high because they receive the "Caribbean bankings (tax course where many Americans have invested their capital assets without paying taxes in their country of Treasury)
Written by Droblo on November 26, 2008 with 336 comments
Read more articles on papers.
Woody Allen said that he would be reincarnated in the fingertips of Warren and Betty chose not bad, really. What I am clear that if I were to reincarnate into something, I never would be a Crash Test Dummy, who are the puppets that are used to check the damage in traffic accidents (and also used the series of television Hunters myths "to test their experiments). However, engineers now have much to thank him for his invention and that before there were human corpses were used for crash tests. Sure, it was worse when the studies were conducted by volunteers, that if it was a bad job, so they complain less of us.
Was 50 when started to work with these dolls that suffered so many lives have been saved from accidents such as aviation. A typical shock lasts just over one tenth of a second and at that time are capable of collecting more than 30,000 data, so these dummies come to cost about € 150,000, significantly more than those of Zara ...
In economics, after a crash, we have plenty of data to look like an accident whether. As we are still in the coup (in contrast to those of cars, the last financial years) we see that noted in particular his dummy economist Dean Bake r after the crash on the stock exchanges in 2000. This applies both to exchange for other bubbles
- It would have been easy for any competent analyst to recognize the bubble as ratios with respect to certain stock prices and corporate profits reached unsustainable levels.
- Failure does not recognize the bubble and warn of its consequences is largely due to the misunderstanding that exists between the stock market and its role in the economy.
- Although some economists had warned of the bubble, their claims were completely excluded from the media.
- Most managers of investment funds, including pension plans of both private and public universities and did not see the bubble and its inevitable explosion.
- While the error in detecting the risk was that the careers of many professionals suffered a slowdown, few executives, politicians, economists and financial analysts have paid for their mistakes.
(more ...)
Written by Carlos Lopez on November 20, 2008 with 373 comments
Read more articles on papers.
Sometimes trying to understand all stock movements forget a maximum fundamental bag move people around the mind very similar to ours. Even the automated programs that are based on volume generated basic psychological patterns. One example: A year ago when someone earning about 5% by buying shares at 14 € Santander had no hurry to sell, saying that the "so what am I gonna do with the money?" Was an upward trend quiet now if it retains a 5% by buying some shares of Santander has € 6 to rush to sell, it seems that burn. This is because volatility creates fear and lack of confidence, it does not matter the price and the action is, in short, is pure psychology.
Because almost all the great masters of the science of money were unable to become millionaires. I do not mean get rich selling textbooks, but speculating. To my knowledge, no more than three workdays speculators in economic history:
Ie, knowledge economy does not make anyone an expert in making money.
However, if psychological patterns can make money. An example:
Some years ago the brothers Hirsch, one of the best companies worldwide search for seasonal patterns, data released that day are not all equal to the hours of trading. The Dow Jones from 1990 to 2006, if you look for each day of the week would have the following entries:
- 6460 points Monday.
- +1615 Tuesday.
- +204 Wednesday.
- -226 Points Thursday.
- -523 Points Friday.
I am not a psychologist, but these data are truly amazing and I can think of two interpretations: the beginning of the week makes us more willing to invest and as we approach the end of the week we want and we spend more on rest and that open markets and give us a quiet activity that does not give us the weekend. I believe that even if markets do not close this pattern will never disappear.
So join the meantime, trading is the best short on Friday to buy and sell closed on Monday. However, if during the weekend is on a world war ... care.
You see? I also have this psychological pattern in mind.
(more ...)
Written by Droblo on November 19, 2008 with 277 comments
Read more articles on papers.
Niels Bohr was a Danish physicist at which he was named in honor of the chemical element "Bohrio" (BH), a highly unstable isotope which may never see his life as an average of just 0.44 seconds. But we are interested in this man is this great quote:
"Predicting is very difficult, especially if it is about the future."
It is curious that a scientist (one of the few professions in which after much experience can be made reliable prediciones) dares to say what many economists are silent, our inability to know what will happen. But when the forecasts are positive creernoslas and we have more in mind that when they are negative, the most obvious example is the current crisis in their pregnancy hidden by governments and by the media as for ourselves. In fact, in this blog, I cortaypega in early January of information is pessimistic forecasts for this year that passed without penalty or glory for their dye catastrophist.
But this is not new and not go further in 1999 in the stock market boom of technology companies (the famous bubble. Com), was published the book "Dow 100,000 myth or reality" that you can still buy on Amazon, this is a brief summary of what you will.
Many articles in magazines and even books will say that stock markets in the late 90's are in a dangerous bubble. No one can come to know when the crash but many people think we are very close to the next big economic curve. Kadlec, chief investment Seligman Advisors has a different view: the bad things happen now and forever, but the Dow Jones reach 100,000 points in 2020. In other words "two decades of growth above average." This represents only a 11.1% annual growth in the share price, which is completely unrealistic.
We can find similar books written in that year:
Ya see, as were the predictions for nearly 10 years, the markets were going up to infinity and beyond what seemed an auction ... 30,000, 36,000, 40,000 and 100,000. Do not forget, we now have the U.S. stock market (Dow) in 8500. (More ...)
Written by Carlos Lopez on November 18, 2008 with 371 comments
Read more articles on papers.
With a little delay will leave the comment of the week, this time from the hand hyperactive dei ICG
November 14, 2008, at 9:32.
Well, well ... it is Friday!
We are pleased to arrive safely ... one more week.
I say that if these high levels and thieves do not realize what's really happening ... then I will explain! Mr and Mrs that are up there leading the herd (which I am) ... pay attention to what I'm going to say:
The central and basic causes for the slowdown is occurring (a wink and Solbes ZP), crisis, recession, estanflacción, depression ... or as we like to call it, is an easy and simple reason is that ... ... and have gone from Thread! Have missed the last round of the nut ... a time to squeeze and enslaved. Is this the only reason why the cow and no more milk. We have no milk in the teats ... and we do not have good grass-fed ... and now we are skeletal cows.
It's that simple. Consider:
A) If I collect like my father ... and do not give up. Yes!, Ladies and gentlemen, charging the same as my dear father and 20 years have passed. I repeat the same salary after 20 years ...! Given that I am a thousand times better than him (my father was a pastor and then operator of the assembly line ... does not have an elementary school) ... and I, with EGB, ESO, and Baccalaureate degree and I am ... same salary ... (how sad, for God's sake!)
B) If the price of everything has increased by 2, 3, 5 or 10 ... (food, entertainment, restaurants, gasoline, apartments, rent ... and what has not grown ... the CPI has risen at least if clothes, cars, ...)
Well ... ... NOT BLOCK THE ACCOUNTS. I was patatero scratch in their pockets! Yes, yes ... listen zero Zapatero! Not one euro. And I wonder: What I have to revive consumption? Then sit to wait ... because I will ask for another loan ... how?
Economy and so many masters, many advisers and analistos ... .. what!? Please .... ... respondanme economic elites and leaders of the Spanish comedy farce! what?
Here subtraction: if "A" diminishes "B" ... what gives? Well, negative number, the red is not ...? So I say in your language: negative growth numbers ... (slowed or numbers).
So I see it:
YEAR 2008: I join 1,200 euros a month (ie "A") ... and that the monthly concepts of "B" are a whopping 700 rent, $ 100 petrol, 100 of food, such and such ... me ... Yields: -500 euros. I have no NOTHING in their pockets to spend ... on the contrary, the "life" I have to pull your credit card to survive the $ 500 monthly debt.
YEAR 1990: my father entered 200 thousand pesetas (A) ... and that this has had three children, pay rent, car, food and such ... ... this result still saved money !!!!! He envelopes!! (eye! And my father has had a stable job and fixed all his working life ... I, however, garbage contracts, and other agencies guarradas ...)
Now we see more clearly? Eooo ... ... eooo! Lords ruling, employers, entrepreneurs ... ..!!!! eooooo .... where are they? See the accounts? And what I know about the congress and the senate ... .. Empty. Our representatives .... those who sail on our well-being .... as moonlighters and 5 thousand euros monthly deputy fail to month ... do not work as deputies and engage in self-employment or who are also employed. (Please, a little shame and respect for citizens ... to attend parliament. Reclamo compulsory attendance of all deputies and senators to all sessions of both chambers of parliament).
And so, all I can say is that I am Spanish and what I feel: ¡¡¡SHAME! ¡¡¡INDIGNACIÓN! ¡¡¡IMPOTENCE!
The comment has been slightly censored, you have the original here.
Greetings and who are very good weekend ... I'm going to take it, I assure you all.
Written by Carlos Lopez on November 16, 2008 42 comments
Read more articles on papers.
