PPCC - Pisitófilos Creditófagos - Primavera 2019

[CHOSEN]

Renta Básica Universal + Teoría Monetaria Moderna... Allá vamos.

RBU de 300 € al mes para 3,2 millones de españoles = ELIMINAR la cotización de autónomos para TODOS los autónomos de este país (3,2 millones cotizantes en el RETA).
No solo eso, sino que ese ingreso (+) para el Estado, se convertiría en un gasto (-).
Y que todavía exista gente repitiendo esto por internet...

Adelante a por los JJOO!!!
¿Puede haber algo más democrático que gastarse el dinero de los demás?
 

[Derby]

https://www.cnbc.com/2019/06/19/ecb-guindos-another-bond-buying-program-could-be-part-of-new-stimulus.html

ECB vice president says another bond-buying program could be part of new stimulus

Speaking to CNBC Wednesday, ECB Vice President Luis de Guindos added to Draghi’s comments and outlined some possible measures the central bank could implement.

“We have a wide range of instruments available: We have forward guidance, we have TLTRO (targeted longer-term refinancing operations), we have the reinvestment of the maturities of our balance sheets — so there is an ample, you know, range of instruments that we could use, and QE (quantitative easing) is one of them,” De Guindos told CNBC’s Annette Weisbach in Sintra, Portugal.

The ECB foresees “lingering softness” in the short term, in particular due to geopolitical factors and trade conflicts.

[Derby]

https://www.project-syndicate.org/commentary/g20-summit-japan-trump-trade-protectionism-by-javier-solana-2019-06/spanish

El espíritu perdido del G20, Javier Solana

[Yupi_Punto]

Renta Básica Universal + Teoría Monetaria Moderna... Allá vamos.

RBU de 300 € al mes para 3,2 millones de españoles = ELIMINAR la cotización de autónomos para TODOS los autónomos de este país (3,2 millones cotizantes en el RETA).
No solo eso, sino que ese ingreso (+) para el Estado, se convertiría en un gasto (-).
Y que todavía exista gente repitiendo esto por internet...

Adelante a por los JJOO!!!
¿Puede haber algo más democrático que gastarse el dinero de los demás?
 

No, hombre. Con la Teoría Monetaria Moderna se "imprimirían" los dineros de la RBU. Y los autónomos para qué iban a cotizar? Se "imprime" para los presupuestos del estado lo que haga falta y listo.

Y si eso crea inflación y el euro baja, pues genial: se neutralizan las deudas y además con la moneda más débil se exportará mucho más.

[PastorMesetario]

La FED no toca los tipos.

Trump pidiendo a un sicario que parezca un accidente.

[Derby]

La FED no toca los tipos.

Trump pidiendo a un sicario que parezca un accidente.

https://www.cnbc.com/2019/06/19/fed-decision-fed-leaves-rates-unchanged.html

Fed holds rates steady, sees no cuts in 2019

https://www.bloomberg.com/news/articles/2019-06-19/fed-scraps-patient-rate-approach-in-prelude-to-potential-cut?srnd=premium

Fed Leaves Rates Unchanged, Scraps ‘Patient' Approach in Prelude to Possible Cut

[visillófilas pepitófagas]

https://www.vozpopuli.com/economia-y-finanzas/precio-vivienda-subira-espana-barcelona_0_1255975332.html

El precio de la vivienda subirá un 5% en España este año, según un informe

El precio de la vivienda se encarecerá un 5 % de media este año en España, mientras que el alquiler bajará un 3 % de promedio, según un informe elaborado por la consultora inmobiliaria Forcadell y por la Universidad de Barcelona (UB).

Con todo, Bernardos ha querido dejar claro que en España hay por delante "un ciclo muy largo y muy moderado" para la vivienda de compra, y ha añadido: "No hay burbuja inmobiliaria ni se la espera".

El informe augura que este año un millón de familias españolas que estaban de alquiler se plantearán adquirir un inmueble, con lo que el mercado de la vivienda en propiedad en España está "en una etapa inicial de su fase expansiva" y , en cambio, el alquiler tiene una "tendencia a la baja" en toda España, según Bernardos.

El hijoputa dice exactamente lo contrario que hace 6 meses, cuando se reía socarronamente diciendo que por supuesto que iba a haber otra burbuja 

Lean, vean y escuchen: https://www.transicionestructural.net/index.php?topic=2468.msg162870#msg162870

[Yupi_Punto]

https://www.vozpopuli.com/economia-y-finanzas/precio-vivienda-subira-espana-barcelona_0_1255975332.html

El precio de la vivienda subirá un 5% en España este año, según un informe

El precio de la vivienda se encarecerá un 5 % de media este año en España, mientras que el alquiler bajará un 3 % de promedio, según un informe elaborado por la consultora inmobiliaria Forcadell y por la Universidad de Barcelona (UB).

Con todo, Bernardos ha querido dejar claro que en España hay por delante "un ciclo muy largo y muy moderado" para la vivienda de compra, y ha añadido: "No hay burbuja inmobiliaria ni se la espera".

El informe augura que este año un millón de familias españolas que estaban de alquiler se plantearán adquirir un inmueble, con lo que el mercado de la vivienda en propiedad en España está "en una etapa inicial de su fase expansiva" y , en cambio, el alquiler tiene una "tendencia a la baja" en toda España, según Bernardos.

El hijoputa dice exactamente lo contrario que hace 6 meses, cuando se reía socarronamente diciendo que por supuesto que iba a haber otra burbuja 

Lean, vean y escuchen: https://www.transicionestructural.net/index.php?topic=2468.msg162870#msg162870

Bueno, aconsejaba empepitarse antes de una burbuja segura, garantizando así que una parejita mileurista va a ser rica!

[Derby]

https://www.axios.com/mario-draghi-bond-yields-negative-europe-043f0ca9-303b-4ac4-827f-aa9dcc25809c.html?utm_source=Daily+AR&utm_campaign=631102e740-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_c08a59015d-631102e740-144089365

Draghi sends bond yields negative all over Europe

Sweden, an EU member with its own central bank, saw its rates turn negative for the first time ever. Denmark also now has negative interest rates, as does Switzerland, which is not even a member of the EU.

[Derby]

https://ftrintel.com/blog/akes-take-were-addicted-to-cheap-chinese-goods/

Ake’s Take: We’re Addicted To Cheap Chinese Goods

After the housing bust and Great Recession, the new Obama administration could also not risk disrupting Chinese trade. The economic recovery was very fragile for a few years and never great during the entire eight years. So, the Chinese goods kept flowing. The Chinese were fortunate that economic and world calamities prevented U.S. trade policies from being critically reviewed, which enabled the cheap Chinese goods to keep flowing to U.S. consumers for over 20 years.

The Trump administration reviewed the numbers and wondered how we ever got into this precarious position. Today, we find ourselves in a trade war, which involves much more discussion about intellectual property and opening Chinese markets to U.S. goods than about slowing the flow of products into the U.S. Why? We might as well face it – we’re addicted to cheap Chinese goods. Yes, we love those low prices at Walmart and online too! We have been buying the stuff for 25 years and we are hooked. This is surely the “new normal”.

[Derby]

https://rew-online.com/2019/06/changing-rent-laws-could-spark-new-financial-crisis/

Changing rent laws could spark new financial crisis

There are a lot of real estate investors, including people with only one or two properties, who took out bank loans when rates were low in 2016 and 2017 with the expectation that they would be able to raise rents according to a certain formula and continuing converting rent-stabilized apartments to ones drawing free market rents after vacancies and capital improvements.

Changing the rules in a way that drastically alters those projections negatively, means borrowers are not going to draw enough income out of their properties while also providing the necessary services to tenants to meet the obligations of their loans.

If the borrower can’t meet their obligations, then they will have to divest themselves of the property or renegotiate with the lender. And of course, there’s always the possibility default, in which case the bank will have to report it as a bad loan or sell it off to someone who specializes in distressed debt.

None of those scenarios is good for either the borrower or the lender.

[Derby]

https://ofdollarsanddata.com/the-greatest-asset-bubble-of-all-time/

The Greatest Asset Bubble of All Time

Japan is the winner for the greatest asset bubble of all time because of how well it scores on the three criteria (Market Cap, Price, and Recovery Time) relative to all other bubbles in market history.  To illustrate this, I have created a table below that summarizes how each of the seven bubbles fared on these three measures.

I also added red boxes for each bubble to highlight what I consider the weak points in the discussion for greatest of all time (i.e. too small, little price movement, or decent recovery time).  Japan is the only bubble in all green because of how well it scores on the three criteria:

[marvin]

https://www.vozpopuli.com/economia-y-finanzas/precio-vivienda-subira-espana-barcelona_0_1255975332.html

El precio de la vivienda subirá un 5% en España este año, según un informe

El precio de la vivienda se encarecerá un 5 % de media este año en España, mientras que el alquiler bajará un 3 % de promedio, según un informe elaborado por la consultora inmobiliaria Forcadell y por la Universidad de Barcelona (UB).

Con todo, Bernardos ha querido dejar claro que en España hay por delante "un ciclo muy largo y muy moderado" para la vivienda de compra, y ha añadido: "No hay burbuja inmobiliaria ni se la espera".

El informe augura que este año un millón de familias españolas que estaban de alquiler se plantearán adquirir un inmueble, con lo que el mercado de la vivienda en propiedad en España está "en una etapa inicial de su fase expansiva" y , en cambio, el alquiler tiene una "tendencia a la baja" en toda España, según Bernardos.

El hijoputa dice exactamente lo contrario que hace 6 meses, cuando se reía socarronamente diciendo que por supuesto que iba a haber otra burbuja 

Lean, vean y escuchen: https://www.transicionestructural.net/index.php?topic=2468.msg162870#msg162870

Bueno, aconsejaba empepitarse antes de una burbuja segura, garantizando así que una parejita mileurista va a ser rica!

Bernardos era de los pocos que hablaba claro de la burbuja hasta que le contrató el sector inmobiliario, dedicándose desde entonces a la desinformación,  y ahí sigue, incansable.

[Derby]

https://www.bloomberg.com/opinion/articles/2019-06-17/how-housing-finance-enriched-whites-at-expense-of-black-borrowers?srnd=premium

Black Poverty Is Rooted in Real-Estate Exploitation

A new study on housing in Chicago illustrates a big part of the answer: Generation after generation, the U.S. system of real-estate finance has enriched whites at the expense of blacks.

Black families were overcharged somewhere between $3.2 billion and $4 billion (in 2019 dollars). The real estate agents and investors who profited were almost exclusively white, so this represents a direct transfer of wealth from one race to another. Worse, the contracts’ exorbitant terms, along with the lack of equity to borrow against, left black families without the means to invest in their properties, contributing to the physical decline of their neighborhoods.

The predation didn’t end in the 1960s. It evolved. There was the FHA scandal of the 1970s, in which indiscriminate federal lending and outright corruption enabled speculators to sell inner-city homes to blacks at inflated prices, resulting in widespread foreclosures.There was the subprime boom of the 2000s, in which blacks were steered into inappropriately expensive loans that enriched a whole ecosystem of mortgage-industry professionals, but often left borrowers with nothing but an eviction notice and a bad credit history. In the wake of the subprime bust, investors including private-equity firms have again targeted the same neighborhoods, buying up houses on the cheap and renting them back to black and other minority tenants -- sometimes under contracts very similar to those of the 1960s.

The investors involved don’t necessarily act with racist intent. They exploit blacks because that’s where the opportunity is. But the effect is the same: Black Americans experience a completely different kind of finance, one that turns the dream of homeownership into a poverty trap. This helps explain why, despite narrowing racial disparities in areas such as education and employment, the gap in net worth remains just as large as it was almost three decades ago.

[Derby]

https://www.bloomberg.com/news/articles/2019-06-19/trump-believes-he-has-the-authority-to-replace-powell-at-fed?srnd=premium

Trump Believes He Has the Authority to Replace Powell at Fed

President Donald Trump has told confidants as recently as Wednesday that he believes he has the authority to replace Jerome Powell as chairman of the Federal Reserve Board, according to people familiar with the matter.

In Trump’s line of thinking, he could demote Powell to be a board governor, but isn’t planning to do so right now, the people added.