PPCC: Pisitófilos Creditófagos. Verano 2023

[CHOSEN]

Si el problema es la burbuja inmobiliaria, y ésta tiene tintes claramente generacionales, no se porqué os hacéis los remolones a la hora de indicar CLARAMENTE donde hay que meter el bisturí 


...
Acabaréis diciendo que hay que darle a los jóvenes 20.000€ "para que se independicen".
Al tiempo.
 

[sudden and sharp]

20.000 para empezar... ¿Por qué no?






Lo difícil de verdad... es quitar... dinero... derechos...






-‐------------
Tres más de gsmbassssss.... Yoli, please.   

[Derby]

https://www.economiadigital.es/politica/psoe-felipe-gonzalez.html

El PSOE empieza a romperse: Felipe González pide dejar gobernar a Feijóo y Zapatero se opone

El expresidente del Gobierno, Felipe González, propone que gobierne el partido político más votado para superar "bloqueos políticos"

El expresidente del Gobierno, Felipe González, ha pedido que gobierne la lista más votada cuando no haya otra alternativa. De esta manera, a su juicio, se podrán superar los «bloqueos políticos», tal y como ha manifestado a lo largo de un artículo publicado en el marco de un monográfico enfocado en los pactos en la Nueva Revista de la Universidad de la Rioja por Internet (UNIR).

«Hay propuestas que podrían tener sentido si no estuviéramos atrapados en bloqueos políticos», ha defendido el expresidente a lo largo del artículo, que lleva por nombre ‘Pactar es progresar’, para después dejar bien claro: «Busquemos soluciones en las que la lista más votada sea aceptable cuando no haya otra opción».

El expresidente del Gobierno, Felipe González, ha pedido que gobierne la lista más votada cuando no haya otra alternativa. De esta manera, a su juicio, se podrán superar los «bloqueos políticos», tal y como ha manifestado a lo largo de un artículo publicado en el marco de un monográfico enfocado en los pactos en la Nueva Revista de la Universidad de la Rioja por Internet (UNIR).

«Hay propuestas que podrían tener sentido si no estuviéramos atrapados en bloqueos políticos», ha defendido el expresidente a lo largo del artículo, que lleva por nombre ‘Pactar es progresar’, para después dejar bien claro: «Busquemos soluciones en las que la lista más votada sea aceptable cuando no haya otra opción»..(...)

[senslev]

Nadie se atreve a meter el bisturí donde se debe. Las pensiones altas, fiscalidad a partir de la segunda vivienda y lucha contra el fraude fiscal (poner a nombre de mi primo cuarto la vivienda del pueblo de mi madre). El problema es que hay casos y casos, no es lo mismo una pensión de 1000/1200/1500 con una vivienda normalita pagada (sí, sí, esto ahora es un lujo), que dos pensiones de 1500 o 2000 con dos o tres viviendas en propiedad, por ejemplo. Tener un registro de esta información  con la cantidad de tecnología que hay hoy en día y un poco de voluntad se podría hacer y además bien. Y por supuesto un parque público de vivienda decente que permita el desarrollo de la sociedad como debe ser, sociedad avanzada se supone.

Que las autoridades supuestamente pro -que no se vaya todo a la mierda-, es decir, supuestamente los bancos centrales, obliguen a los estados a que regulen, controlen o lo que sea que tengan que hacer con el precio irracional del ladrillo y si no, cero compra de deuda y cero soporte para ese país. Y si no te gusta, lacito y fuera de la UE, por ejemplo. Verás qué rápido empiezan a moverse. Pero aquí nos estampamos con la historia y sabiendo como acaban las cosas, le doy una probabilidad del 1%, y eso siendo generoso.

Y si no, a la mierda!, a-la-mier-da! como decía Fernando Fernán Gómez.

[asustadísimos]

[Después de ¡¡¡4 décadas!!!, ya estamos en los días en los que todas las generaciones vivas son perdedoras de las burbujas popularcapitalistas. Queda un residuo de triunfadores con demencia senil que no pinta absolutamente nada.

El propietariado ha cambiado mucho. No es ni la sombra de lo que fue.

Y el Estado está siendo dirigido por perdedores al cuadrado: media vida opositando para cuerpos 'de élite' para no poder permitirse vivir en las ciudades-sede.

El 'mercao' no funciona.

Rusia pudiera seguir siendo un sistema de planificación central. China, desde luego que sí.
https://www.youtube.com/watch?v=OIVU8gL3WAY
https://www.youtube.com/watch?v=U5Mwc12LtRY

El capitalismo ha fracasado: BURBUJAS APRODUCTIVAS & VIVIENDA-EDUCACIÓN-PENSIONES-SANIDAD & EMPLEO. ¿Qué viene ahora?

Los viejos liberales acusamos a los nuevos liberales de ser lobos disfrazados de la abuelita de Caperucita exitosos. ¡Enhorabuena, lo habéis conseguido!: ¿qué viene ahora después del capitalismo?

Tictac, tictac. La guerra de Ucrania está finalizando. Tras la retirada a retaguardia de la Wagner, dos noticias recorren el mundo, relativas a dos sectores clave, el agrícola y el petrolero:
https://www.msn.com/es-es/noticias/other/la-ue-estudia-una-concesi%C3%B3n-a-un-banco-ruso-para-salvaguardar-el-acuerdo-del-grano/ar-AA1dmkCB
https://www.forbes.com.mx/shell-aun-comercializa-gas-ruso-un-ano-despues-de-anunciar-su-retirada-ong/

La suerte está echada.]

[Derby]

https://www.reuters.com/markets/us/blackstone-reit-says-redemption-requests-declined-june-2023-07-03/

Blackstone REIT says redemption requests declined in June

July 3 (Reuters) - Blackstone (BX.N) Real Estate Income Trust (BREIT) said on Monday that redemption requests declined in June after months of turmoil that led to the private equity firm limiting investor withdrawals.

"In June 2023, BREIT received $3.8 billion in requests under the Repurchase Plan, which is 29% lower than the peak in January 2023 and the lowest month of repurchase requests this year," the firm said in a letter to investors.

Shares of Blackstone rose 1.1% to $94.03 in morning trading.

BREIT is fulfilling requests worth about $628 million, amounting to 1% of its net asset value (NAV) and representing 17% of the shares submitted for repurchase, it added.

Blackstone has been exercising its right to block investor withdrawals from BREIT since November after requests exceeded a preset 5% of the NAV of the fund.

The private equity firm said it has paid out $8.1 billion to redeeming shareholders since November 30.

[Derby]

https://www.bloomberg.com/news/articles/2023-07-03/treasury-yield-curve-inversion-approaches-multi-year-extreme

Treasury Yield-Curve Inversion Approaches Multi-Year Extreme

Two-year yield exceeds 10-year by more than a percentage point
Gap shrinks a bit in rally sparked by weak ISM factory gauge

A key segment of the US Treasury yield curve approached its most inverted level in decades Monday as traders priced in further Federal Reserve policy tightening.

The two-year note’s yield exceeded the 10-year rate by as much as 110.8 basis points as the shorter-maturity rate reached 4.96%. The inversion touched 110.9 basis points in March, a level last seen in the early 1980s, according to data compiled by Bloomberg.

The inversion eased slightly during US morning trading — to around 108 basis points — after the ISM manufacturing gauge for June unexpectedly declined to a three-year low, reflecting weakness in its production, employment and prices components. The data sent Treasury yields lower led by the two-year, which fell to nearly 4.84%.

“The near-term risks are that more rate hikes must be priced, that the Treasury curve flattens more, and that the pace of slowing both within the inflation and employment data does not satisfy policymakers and the markets,” John Brady, manging director at RJ O’Brien, wrote to clients.

[Derby]

https://www.bloomberg.com/news/articles/2023-07-03/thames-water-bonds-edge-higher-on-bets-selloff-overdone

Thames Water Bonds Edge Higher on Bets Selloff Overdone

Ringfenced debt seen safest, but holding-company notes jump
Thames Water bonds sank on speculation nationalization coming

The bonds of the UK’s biggest water provider climbed on Monday as investors bet a selloff driven by fears the utility would be nationalized had gone too far.

Notes issued by Thames Water’s holding company unit that are due to mature in three years gained about 7 pence on the pound to 62, according to CBBT data compiled by Bloomberg. Meanwhile, debt due in 2027 that was sold by the operating company rose 0.6 pence to around 91 per pound.

The rebound comes as traders try to gauge the potential losses involved in holding the riskiest portions of the company’s debt. The bonds tumbled last week as concern mounted over the company’s heavy debt pile after it was revealed that Thames Water is in talks with government officials over contingency plans, including a temporary nationalization.

The company owes more than £14 billion ($18 billion) at the operating company level — its so-called ring-fenced borrowings, which are considered to be its safest liabilities. On top of that, however, the group has debt issued at the holding company level — including notes issued by Kemble Finance Plc which jumped on Monday — that rely on cash from the operating companies.



(...) Citigroup analysts Jenny Ping and Rory Graham-Watson warned in a note on Monday that the debt at the holding company level could be at risk of default if the liabilities aren’t borne by consumers or taxpayers.

“Our understanding is that if a water company requires government help financially, it would be the operating company ring fenced assets and debt issued at these level that government takes over/support,” the said.

[asustadísimos]

[«Blackstone REIT says redemption requests declined in June».

That's life, that's life
That's what all the people say
You're riding high in April, shot down in May
But I know I'm gonna change that tune
When I'm back on top, back on top in June

https://www.youtube.com/watch?v=HUgZ7kztPBs ]

[Derby]

https://www.reuters.com/world/europe/eu-considers-russian-bank-concession-safeguard-black-sea-grain-deal-ft-2023-07-03/

EU weighs concession to Russian bank over Black Sea grain deal -FT

July 3 (Reuters) - The European Union is considering a proposal for the Russian Agricultural Bank to set up a subsidiary to reconnect to the global financial network as a sop to Moscow, the Financial Times said on Monday.

With the bank under sanctions, the move aims to safeguard the Black Sea grain deal that allows Ukraine to export food to global markets, the newspaper said.

The European Commission had no comment, while the Kremlin, in response to a question about the report, said it had nothing to announce about the deal's implementation.

The United Nations and Turkey brokered the Black Sea Grain Initiative for an initial 120 days last July to help tackle a global food crisis worsened by Moscow's invasion of Ukraine, one of the world's leading grain exporters. It has been extended three times since but is due to expire later this month.

More than 32 million tonnes of mostly corn and wheat have been exported by Ukraine under the deal.

Moscow reiterated on Monday it was pessimistic about the prospects for renewing the deal because no progress had been made in implementing accompanying agreements that pertain to Russian exports.

There was little immediate reaction in global grain markets on Monday with wheat prices virtually unchanged.

"There is general belief in the market that the Ukrainian shipment deal will not be extended unless Russia gets substantive concessions," one European grains trader said.

"Easing the banking sanctions would be a quick method of giving Russia something," the trader said, adding there remained many doubts about whether the deal would be extended.

Russia last week said that it saw no reason to extend the grain deal because the West had acted in an "outrageous" way over the agreement, though it assured poor countries that Russian grain exports would continue.

'CREATIVE WAYS'

Moscow's plan, proposed through U.N.-brokered talks, would let the bank unit handle payments related to grain exports, the paper said, citing unnamed sources.

The new unit would be allowed to use the SWIFT global financial messaging system, which was closed to the largest Russian banks after Russia's invasion of Ukraine, it added.

The U.N. declined to comment on the FT report.

"I don't think it would help me to talk in any detail about what the U.N. is doing," Deputy U.N. spokesperson Farhan Haq told reporters on Monday,

He added that U.N. officials had been in touch with "a number of nations, including European nations, to find creative ways in which exports of food and fertilizer from the Russian Federation could be could be expedited."

Responding to the Financial Times report, Ukraine's foreign ministry ambassador at large, Olha Trofimtseva, said the EU wanted "to somehow facilitate the grain deal".

"On the one hand, any opportunities for agricultural exports are good. On the other hand, making concessions to a blackmailer means encouraging him to continue blackmailing," she wrote on the Telegram messaging app.

"It is a well-known axiom: a blackmailer does not stop if you fulfil his demands. He just comes up with new demands."

As two of the world's top agricultural producers, Russia and Ukraine are major players in grain and oilseed markets ranging from wheat and barley to rapeseed and sunflower oil. Russia is also dominant in the fertiliser market.

Apart from the restoration of SWIFT access, Russia is also seeking resumption of supplies of farm machinery and parts as well as the removal of curbs on insurance and reinsurance.

[Benzino Napaloni]

https://www.economiadigital.es/politica/psoe-felipe-gonzalez.html

El PSOE empieza a romperse: Felipe González pide dejar gobernar a Feijóo y Zapatero se opone

El expresidente del Gobierno, Felipe González, propone que gobierne el partido político más votado para superar "bloqueos políticos"

El expresidente del Gobierno, Felipe González, ha pedido que gobierne la lista más votada cuando no haya otra alternativa. De esta manera, a su juicio, se podrán superar los «bloqueos políticos», tal y como ha manifestado a lo largo de un artículo publicado en el marco de un monográfico enfocado en los pactos en la Nueva Revista de la Universidad de la Rioja por Internet (UNIR).

«Hay propuestas que podrían tener sentido si no estuviéramos atrapados en bloqueos políticos», ha defendido el expresidente a lo largo del artículo, que lleva por nombre ‘Pactar es progresar’, para después dejar bien claro: «Busquemos soluciones en las que la lista más votada sea aceptable cuando no haya otra opción».

El expresidente del Gobierno, Felipe González, ha pedido que gobierne la lista más votada cuando no haya otra alternativa. De esta manera, a su juicio, se podrán superar los «bloqueos políticos», tal y como ha manifestado a lo largo de un artículo publicado en el marco de un monográfico enfocado en los pactos en la Nueva Revista de la Universidad de la Rioja por Internet (UNIR).

«Hay propuestas que podrían tener sentido si no estuviéramos atrapados en bloqueos políticos», ha defendido el expresidente a lo largo del artículo, que lleva por nombre ‘Pactar es progresar’, para después dejar bien claro: «Busquemos soluciones en las que la lista más votada sea aceptable cuando no haya otra opción»..(...)

¿Sabe el Tío Felipe que para eso habría que reformar la Constitución?

No sirve de nada permitir eso sin una reforma de las mociones de censura. Que fue precisamente lo que le pasó a Rajoy. El mecanismo de la moción se diseñó para que en la práctica fuese inviable, porque implica romper la mayoría de la investidura.

El problema de Rajoy fue precisamente que no tenía tal mayoría. El mismo PSOE que le dio la abstención podía revolverse después. Como finalmente pasó.

¿Cómo piensan garantizar el gobierno en minoría de la lista más votada? A menos que acepten precisamente lo que de hecho pasa a menudo en los ayuntamientos, mociones de censura a mitad de mandato.

[Derby]

https://www.bloomberg.com/news/articles/2023-07-03/eu-weighs-russian-bank-concession-to-save-ukraine-grain-deal

EU Weighs Russian Bank Concession to Save Ukraine Grain Deal

Moscow wants Russian Agricultural Bank reconnected with Swift
Grain deal expires this month after a number of renewals

(...) Ukraine’s grain exports are vital to the country’s economy, but are also key to taming global food inflation. The fragile deal — brokered by the UN and Turkey a year ago — expires in mid-July after several extensions. Cargo inspections have been frequently disrupted by Moscow and no new vessels have been allowed to join the initiative since June 26.

The legal and technical feasibility of isolating specific grain-related transactions is unclear, the people said. Officials are also skeptical that Moscow’s demand is merely another attempt to scupper the pact, they said. The Financial Times reported the talks earlier on Monday.

Russia, which competes with Ukraine in the global grain market, has repeatedly threatened to pull out of the deal, complaining that its own farm sector has been impacted by Western sanctions. Russia’s agricultural products aren’t directly sanctioned, but restrictions on banks have caused financial and logistical issues for some grain importers.

Still, with another large wheat harvest beginning, Russia is expected to ship record volumes for a second year in a row. By contrast, Ukraine will see its share of global exports halve from pre-invasion levels as production suffers long-term damage from mined fields and broken logistics chains.

[Derby]

https://www.elconfidencial.com/empresas/2023-07-03/santander-caixabank-ficha-kpmg-venta-hipotecas_3683850/

MANDATO
Santander y CaixaBank fichan a KPMG para acelerar la venta de hipotecas con problemas

Los grandes bancos quieren liberar provisiones y deshacerse de hipotecas problemáticas antes del repunte de los impagos que podría llegar a finales de año

Los grandes bancos españoles tienen clara cuál es la estrategia a seguir antes de que llegue la temida escalada de la morosidad: vender el máximo posible de hipotecas problemáticas. Entidades como Unicaja, Bankinter, UCI (de Santander y BNP Paribas) y Banco Sabadell han acelerado estos planes en los últimos meses, y recientemente han decidido subirse a este tren Santander y CaixaBank.

Estos dos bancos han contratado a KPMG y preparan grandes ventas de hipotecas que saldrán al mercado este mes, del entorno de los 300-500 millones cada una. De momento, ambas entidades se encuentran en la fase de definir el perímetro antes de enviar información a los fondos oportunistas, según fuentes financieras consultadas por El Confidencial. Desde estos grupos y la big four, no hicieron comentarios.

La cartera que está preparando Santander no es la primera que pone en mercado este año. Ya lanzó dos de créditos de empresas y fallidos a comienzos del ejercicio: el Proyecto Spirit, que lleva KPMG, con 1.215 millones en créditos sin garantía inmobiliaria, y el Proyecto Paddock, que dirige Deloitte, con 279 millones en préstamos de pymes con colaterales como naves industriales, hoteles, comercios y residencial. Este último está a punto de cerrarse, con el fondo LCM como favorito.

Por su parte, CaixaBank, de momento, lleva un año más inactiva, al haber estado más centrada en el contrato de gestión de sus activos, en el que, para sorpresa del mercado, la entidad catalana ha elegido a Intrum en lugar de a su socio Servihabitat.

Bancos activos

Junto a Santander, la entidad más activa este año está siendo Unicaja, que tiene en marcha un plan agresivo de desinversiones para cumplir su plan estratégico. La entidad malagueña ultima la venta de 3.000 hipotecas a Hoist y explora junto a Alantra el traspaso de 50 grandes posiciones hoteleras.

También Bankinter ha pisado el acelerador sacando al mercado el Proyecto Maui, con créditos sin garantía inmobiliaria valorados en 281 millones de euros, y el Proyecto Kona, con hipotecas y préstamos sobre tiendas, oficinas y naves industriales valorados en 62 millones de euros.

[Derby]

https://apnews.com/article/southern-california-hotel-workers-strike-fd02cf167dc6a400a026bf4a72036b0c

Workers strike at major Southern California hotels over pay and benefits

LOS ANGELES (AP) — Workers picketed major Southern California hotels Monday after walking off the job during the July Fourth weekend to demand better pay and benefits.

The strike by bellhops, front desk agents, room attendants, cooks, servers and dishwashers began early Sunday in Los Angeles and Orange counties just as summer tourism ramps up. Employers accused the union of failing to negotiate.

Members of Unite Here Local 11 voted last month in favor of authorizing the strike. In addition to improved wages, the union wants improved health care benefits, higher pension contributions and less strenuous workloads.

Contracts expired at midnight Friday at more than 60 hotels, including properties owned by major chains such as Marriott and Hilton. The strike affects about half of the 32,000 hospitality workers the union represents across Southern California and Arizona.

It comes amid July Fourth celebrations and a major anime convention in Los Angeles. The union, on its website, urged guests to “not eat, sleep or meet” at the striking hotels to support the workers. But it wasn’t immediately clear whether the strike resulted in guests checking out early or lacking services.

The strike is the latest action by a restive labor movement in California.

Hollywood writers have been on strike since early May. In March, the giant Los Angeles Unified School District was shut down for three days by bus drivers, custodians and other support staff. Los Angeles teachers supported that strike and then reached a deal on their own contract without walking out. Oakland teachers went on strike for more than a week, and slowdowns occurred at the big ports of Los Angeles and Long Beach before West Coast dockworkers reached a tentative settlement in June. Actors also may strike.

The soaring cost of living in greater Los Angeles is a significant problem for hotel workers, according to the union.

Last week, a deal was reached with its biggest employer, the Westin Bonaventure Hotel & Suites in downtown Los Angeles, which has more than 600 union workers. Union officials described the tentative agreement, which provides higher pay and increased staffing levels, as a major win for workers.

[Derby]

https://www.theguardian.com/money/2023/jul/03/first-time-homebuyers-now-need-nearly-10-years-to-save-a-deposit-research-finds

First-time homebuyers now need nearly 10 years to save a deposit, research finds

Rising rents and property prices mean Londoners are flatsharing into their 40s, says Generation Rent

https://thehill.com/business/4078975-housing-affordability-hits-another-low-report/

Housing affordability hits another low: report

(...) After three quarters of declines, the median single-family home value rose 10 percent from the first quarter to $350,000 — the largest increase in more than a decade, the company found.

“The U.S. housing market has done an about-face following a downturn that threatened to usher in an extended period of flat or falling prices. With that has come another blow to how much house the average worker around the country can afford,” ATTOM CEO Rob Barber said in a statement.

“Whether this is just a temporary blip amid this year’s peak buying season or a sign of another extended price surge is anyone’s guess,” Barber continued. “But any predictions of a market demise were certainly premature, and house hunters are feeling the pinch.”