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RI Police: Santa didn't rob bar; bartender charged
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CRISIS
During big crisis the heart is either broken or strengthened
En las grandes crisis el corazon se rompe o se fortalece
Honoré de Balzac
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elEconomista.es iPhone elEconomista.es Edición iPhone
El Cisne Negro de Nassin Taleb ha sido uno de los lubros mas interrsantes de los ultimos años, el nuevo promete, ademas lo que leo en esye resumen se parece mucho a mi analisis habitual, grandes empresas y gobiernos se entienden para sacar provecho de los demas miembros de la sociedad atraves del poder regulatorio y redistributivo de los estados, en claro perjuicio de las pymes y ciudadanos de clase media que financian con sus impuestos a estas castas; socialismo para banqueros osea
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CUIDADIN - CAREFULIN
I thought you might find this article on Seeking Alpha interesting:
S&P's Most Overbought Close in More Than a YearSp500 in high overbought territory ........... how far ahead is correction?
INNOVACION EN TELECO
Interesting development for not developed areas where a eolic-solar antenna can allow remote areas to have mobile comunications and even internet
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COMO CAMBIA EL CUENTO
in Spain there's a say that states " is easier predicate than giving bread". how things must currently be in USA for the everybody love him - OBama scores worst than Bush.
PODEMOS ARGENTINIZARNOS?
O tal vez ya lo estamos....
Bloomberg News, sent from my iPhone.
Shrinking Euro Seen by Creditors Crying for Argentina
Dec. 7 (Bloomberg) -- Nine months before Argentina stopped paying its obligations in 2001, Jonathan Binder sold all his holdings of the nation's bonds, protecting clients from the biggest sovereign default. Now he's betting Greece, Portugal and Spain will restructure debts and leave the euro.
Binder, the former Standard Asset Management banker who is chief investment officer at Consilium Investment Management in Fort Lauderdale, Florida, has been buying credit-default swaps the past year to protect against default by those three nations as well as Italy and Belgium. He's also shorting, or betting against, subordinated bonds of banks in the European Union.
"You will probably see at least one restructuring before the end of the next year," said Binder, whose Emerging Market Absolute Return Fund gained 17.6 percent this year, compared with an average return of 10 percent for those investing in developing nations, according to Barclay Hedge, a Fairfield, Iowa-based firm that tracks hedge funds.
He's got plenty of company. Mohamed El-Erian, whose emerging-market fund at Pacific Investment Management Co. beat its peers in 2001 by avoiding Argentina, expects countries to exit the 16-nation euro zone. Gramercy, a $2.2 billion investment firm in Greenwich, Connecticut, is buying swaps in Europe to hedge holdings of emerging-market bonds, said Chief Investment Officer Robert Koenigsberger, who dumped Argentine notes more than a year before its default.
'Fiscal Traps'
"The currency rigidities and fiscal traps that bound Argentina in 2001 and the periphery of Europe today are quite similar," Koenigsberger said in e-mailed responses to questions. "We view such hedges as systematic risk protection as opposed to betting on a restructuring per se. The decision will be political, not economic. A purely economic decision would have Greece already in default, and several other nations close behind."
Bonds from Greece and Ireland tumbled since German Chancellor Angela Merkel's Oct. 29 proposal to force debt holders to share the cost of future bailouts. Yields on 10-year Greek notes climbed 128 basis points, or 1.28 percentage points, since Oct. 28 to 11.69 percent, and yields on Irish bonds rose 122 basis points to 8.03 percent. The yields compare with 7.7 percent on dollar bonds sold by Jamaica, which restructured local-currency debt in January and was declared in default by Moody's Investors Service.
Five-year credit-default swaps for Greece jumped 12 basis points to 917 yesterday, above Argentina's 640, making it the second most-expensive credit insurance in the world after Venezuela, according to data compiled by Bloomberg. The contracts pay the buyer face value in exchange for the underlying securities or the cash equivalent should a borrower fail to adhere to its agreements.
Financial Rescue
Portugal will likely follow Greece and Ireland in seeking a financial bailout from the EU and International Monetary Fund, and some nations will abandon the euro within five years as their economies diverge from Germany, El-Erian, the chief executive officer at Pimco, said in an interview on CNBC on Nov. 30.
"Unless we see something that deals with the balance sheet, expect this contagion to continue to go up," said El- Erian, whose company runs the world's largest bond fund in Newport Beach, California. "Be cautious towards the euro."
El-Erian sold Argentina's debt in 2000, helping Pimco's Emerging Markets Bond reap a return of 28 percent in 2001, outperforming 98 percent of its peers, according to data compiled by Bloomberg. El-Erian, 52, wasn't available to comment, said Mark Porterfield, a Pimco spokesman, in an e-mail.
Dollar Peg
Argentina started struggling to finance its debt in 1999 as the one-to-one peg to a rising dollar squeezed exporters and Brazil, the country's largest trading partner, devalued the real. Interim President Adolfo Rodriguez Saa announced the default in December 2001, after more than 25 people died in riots that toppled the government over spending cuts and the seizure of retirement savings.
The 50 percent appreciation in the euro against the dollar since 2002 has hurt manufacturers in Greece and Portugal, whose economies grew less than 1 percent a year in the past decade. The shortfall in the current account in the two nations amounted to about 10 percent of gross domestic product, triple the ratio for Argentina in 2000. Portuguese workers staged the country's first general strike in 22 years last week to protest government austerity measures.
Higher Debt
Greece's debt totaled 127 percent of GDP in 2009, the second highest in the developed world after Japan, followed by 116 percent in Italy. Argentina's public debt was 62 percent of its economy in 2001, according to data from the IMF.
The budget deficit in Greece, at 15.4 percent of GDP, is the widest among developed nations, followed by 11 percent in Spain and 9.3 percent in Portugal. Those levels compare with 6.4 percent in Argentina in 2001.
Domingo Cavallo, Argentina's economy minister who resigned in December 2001 as the country defaulted on $95 billion, says holders of European government and bank obligations may be forced to take a cut on their investment with the euro intact. The IMF and the EU should buy all the debt of Greece and Ireland at market prices in an "orderly" restructuring, while Portugal and Spain improve their competitiveness through labor and tax reforms, he said in a telephone interview.
'Rapid Way'
"If they don't do something additionally in a more rapid way, that may destroy all the governments simply because people in these countries will not stand the deflation and depression accompanied by the fiscal adjustment," said Cavallo, 64, the chief executive officer of DFC Associate LLC, a consulting firm in Buenos Aires. "There will be a political crisis to come in an extreme way as happened in Argentina."
Potential defaults haven't been recognized by foreign- exchange traders. The number of bets that the euro will weaken versus the dollar in the futures market were less than 7 percent of those placed in May when Greece was rescued, data compiled by Washington-based Commodity Futures Trading Commission show.
The EU, IMF, the U.S. and China will do whatever it takes to avoid an Argentina-style default and a breakup of the euro, according to Simon Nocera, a former IMF economist who manages emerging market bonds as the co-founder of Lumen Advisors LLC in San Francisco.
'Status Quo'
"I don't think the situation will blow up or someone leaves the euro," said Nocera, who started cutting his Argentine debt in 2000 when managing $6 billion at Dresdner RCM Global Investors. "The status quo is of great interest not only to Europe, but also to the U.S. and to China. It's an entirely different ball game than a simple default in Argentina."
The European Central Bank has purchased as much as 17 percent of the combined public debt of Greece, Ireland and Portugal, according to a research report by Goldman Sachs Group Inc. on Nov. 29. Chinese President Hu Jintao said on Nov. 8 that his country is "available" to support Portugal.
"After you have a wave of international banking crises, inevitably within a few years, there will be a wave of sovereign debt crises," said Kenneth Rogoff, a professor at Harvard University who was the chief economist at the IMF from 2001 to 2003, and who predicted "major" bank failures months before Lehman Brothers Holdings Inc. went bankrupt in September 2008. "It's hard to see an end game that doesn't involve at least some of the countries restructuring."
The EU and IMF forecast the Greek economy will shrink 4.2 percent this year and 3 percent in 2011, while Portugal's may contract 1.4 percent next year because of tighter spending. Ireland cut spending and raised taxes by 6 billion euros even as the economy contracted 11 percent over the past three years.
"It's not so much that the Europeans or Germans will stop providing funding for Greece," said Consilium's Binder. "Probably Greece will eventually throw up their hands and say: 'We cannot keep the political pressure of this policy mix because it creates social discontent.'"
To contact the reporters on this story: Ye Xie in New York at yxie6@bloomberg.net
To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net
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DUDAS DEL FINANCIAL TIMES
Financial Times says Zapatero is very bald or very silly .............
Meanwhiled and not connected I was thinking today that all the bad manners of Zapatero with the germans when the Endesa buying try by Eon may probably be very fixed in Merkel, that at the ends is a woman.
The weekend news seems to be Ireland is being rescued, but there are every time more clues about the Germans wanting the owners of the banks, bond holders and other risk taker to pay there part of the party................something so clearly more fair than making the taxpayers pay for everything that is kind of atonish nobody complaining for such a thing
El financial times dice que Zapatero es muy valiente o muy tonto. Los alemanes dicen varias cosas entre ellos que los dueños de los bancos (accionistas) y los poseedores de los bonos de países que necesiten rescate deberían pagar su parte de la fiesta. Zapatero le dio algunas bofetadas a Alemania con el caso EON-Endesa............. mal hecho!
Meanwhiled and not connected I was thinking today that all the bad manners of Zapatero with the germans when the Endesa buying try by Eon may probably be very fixed in Merkel, that at the ends is a woman.
The weekend news seems to be Ireland is being rescued, but there are every time more clues about the Germans wanting the owners of the banks, bond holders and other risk taker to pay there part of the party................something so clearly more fair than making the taxpayers pay for everything that is kind of atonish nobody complaining for such a thing
CATALUÑA VOTA
Las elecciones catalanas traen un cambio de poder, CIU partido del centro derecha nacionalista permanente ganador de las elecciones catalanas vuelve al poder. El Partido Socialista Catalan, se desmorona, paga esa rara y acronica alianza que fue el tripartito, y paga varias rondas más, entre ellas, la crisis y el derrumbre de la imagen de Zapatero, al que antes cuasi adoraban en Cataluña. El analisis más relevante es en el ambito nacional, el PP vuelve a ser la tercera fuerza en Cataluña y obtiene sus mejores resultados de la historia alli................ es decir apunta a mayoría absoluta en unas elecciones nacionales. Ojo al futuro inmediato que a Zapatero le van a crecer los geranios, es decir los miembros de su partido que hasta ahora estaban como plantas en una esquina dejandole hacer, sobre todo deshacer porque ganaba............... ha pasado de ser un activo a un activo toxico
Brief in English. Catalonia a highly relevant autonomous community (state) in Spain has voted today. The usual winners a nationalist center right party retakes the power, the socialist party slumps, and the Popular Party gets its best results ever............... lot of pressure coming for the president and leader of the socialist party in Spain, Zapatero
A DAY A COLOR AN ANIMAL A CRISIS
Future of the European and worlwide unemployed is being partially determined right now, the Black Friday at Dolphin Mall in Florida and many others around USA...........if people resume buying and consume heads north , things could be in their mending way........
I thought you'd like this article: Masses of shoppers kick off Black Friday in South Florida http://www.miamiherald.com/2010/11/26/1943883/masses-of-shoppers-kick-off-black.html#story_link=email_msg
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SOME BIG MAY BE BEING COOKED IN SPAIN
Reading and hearing between lines, one thinks that big forces has started a plan to change the
- The Economist article
- New York Times editorial about Zapatero
- Spain big labor union talking about the legislative term may not end
- Joaquin Almunia, spanish European Comision vicepresident, answering if "everything is over the table"..!!!
- Merkel and Germany, the real leaders of Europe at this time sending signals
- Big guys in ECB and around saying they are not making any plans to save Spain, where I hear something like this before? oh yea, with Greece and Ireland........
As I pointed a couple of days ago, nobody is going to give a blood drop for saving the soldier Zapatero.......... in fact maybe some in the PSOE are starting to think about risk some blod for save the country and the party puting him aside
Breve en Español, la cosa está muy muy malita y leyendo entre lineas parece que algunas fuerzas y poderes facticos podrian estar iniciando movimientos para corregir el rumbo del pais, viendo que esté esta a la deriva. Hay que estar atento a los acontecimientos. Si tuviera que apostarme un cafe sobre si la legislatura va a acabarse o si esta se acabará con el presidente al frente .............. tendría muchas dudas, habra que estar atentos las proximas semanas.
- The Economist article
- New York Times editorial about Zapatero
- Spain big labor union talking about the legislative term may not end
- Joaquin Almunia, spanish European Comision vicepresident, answering if "everything is over the table"..!!!
- Merkel and Germany, the real leaders of Europe at this time sending signals
- Big guys in ECB and around saying they are not making any plans to save Spain, where I hear something like this before? oh yea, with Greece and Ireland........
As I pointed a couple of days ago, nobody is going to give a blood drop for saving the soldier Zapatero.......... in fact maybe some in the PSOE are starting to think about risk some blod for save the country and the party puting him aside
Breve en Español, la cosa está muy muy malita y leyendo entre lineas parece que algunas fuerzas y poderes facticos podrian estar iniciando movimientos para corregir el rumbo del pais, viendo que esté esta a la deriva. Hay que estar atento a los acontecimientos. Si tuviera que apostarme un cafe sobre si la legislatura va a acabarse o si esta se acabará con el presidente al frente .............. tendría muchas dudas, habra que estar atentos las proximas semanas.
I WANT A NEW DRUG
Remember that song , well that´s something a lot of people and specially the big guys at Mercks must be singing about what could become a blockbuster and make a new big advance in our health during the coming years. Acording to this USA Today´s piece of news Anacetrapib could bring a giant leap in cholesterol treatment............... and that could mean a lot for rich countries quality of life in the older people..............and for the owners of Merck
Parece que una nueva medicina podría suponer un avance muy importante en el tratamiento del Colesterol, un problema que afecta gravemente a la salud de las persoans mayores en Occidente con incidencia tanto el sistema cardiovascular (favoreciendo los ataques al corazon ) como en otros aspectos de la salud, por ejemplo se ha descubierto una correlación con el Alzheimer. Eso si sabiendo lo mucho que gastan las farmaceuticas en publicidad, lobby y similar cualquier noticia de esta hay que tomarla con una pizca de sal, poca porque sube la tensión
Parece que una nueva medicina podría suponer un avance muy importante en el tratamiento del Colesterol, un problema que afecta gravemente a la salud de las persoans mayores en Occidente con incidencia tanto el sistema cardiovascular (favoreciendo los ataques al corazon ) como en otros aspectos de la salud, por ejemplo se ha descubierto una correlación con el Alzheimer. Eso si sabiendo lo mucho que gastan las farmaceuticas en publicidad, lobby y similar cualquier noticia de esta hay que tomarla con una pizca de sal, poca porque sube la tensión
EMPEZANDO LA SEMANA
Empiezo la semana con una avería tras echar gasolina a un coche diesel, esperando a que el taller donde la grua dejo el coche vuelva a abrir hagan el trabajo me den la factura correspondiente y si hay suerte pueda seguir ruta. No es un planazo vamos.
Mientras tanto espero en la cafeteria de un hostal de carretera, junto a Ponferrada............ y el local tiene calefacción y Wifi,!! que no lo he encontrado en todos en Miami o Madriz o incluso New Yoll ......... asi que vamos a poner buena cara, ya que el tiempo es regular. Otra buena noticia, hay comedor con menú.......
Mientras tanto espero en la cafeteria de un hostal de carretera, junto a Ponferrada............ y el local tiene calefacción y Wifi,!! que no lo he encontrado en todos en Miami o Madriz o incluso New Yoll ......... asi que vamos a poner buena cara, ya que el tiempo es regular. Otra buena noticia, hay comedor con menú.......
LO QUE HA CAMBIAO EL CUENTO
La OTAN abre la puerta a Rusia y redefine sus objetivos de cara al siglo XXI
ElMundo.es en tu iPhone - iPod Touch a través del App StoreSent from iPhone
VERY SILLY CENSORSHIP
XXI century and the leader country with this silly behaviors from some
of it citizens, teachers in this case............ burocrats. Some
girls were banned from using bracelets for breast cancer awardness for
having the word boobies on it ......
of it citizens, teachers in this case............ burocrats. Some
girls were banned from using bracelets for breast cancer awardness for
having the word boobies on it ......
Check out this article that I saw in USA TODAY's iPhone application.
Moms sue Pa. school over 'boobies'-bracelet ban
http://usat.me?41159348
To view the story, click the link or paste it into your browser.
To learn more about USA TODAY for iPhone and download, visit: http://usatoday.com/iphone/
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6000 TIENDAS
According to this piece of News, Adidas has some 5500 stores in India, in spanish technical idiom it would be call " un huevo de tiendas" literally "an egg of stores" Mucho chino en China ósea
Bloomberg News, sent from my iPhone.
Adidas to Boost China Stores 9% to 6,100 Next Year
Nov. 16 (Bloomberg) -- Adidas AG, the world's second- largest sporting-goods maker, will increase China stores by 9 percent to 6,100 by the end of next year as it forecast sales growth of at least 10 percent in the country.
Adidas plans 500 net store openings in the world's most populous nation, with Greater China sales projected to exceed 1 billion euros ($1.36 billion) next year, Chief Executive Officer Herbert Hainer said in an interview today in Shanghai.
The clothing and footwear market in China may be worth 334 billion yuan ($50 billion) in 2010, almost double what it was five years ago, data from Euromonitor International show. Adidas competes with Nike Inc., the world's largest sporting-goods maker, and Li Ning Co. in China, where retail sales growth averaged 18.3 percent in the 10 months through January.
"I'm quite confident" in China, Hainer said. "We'll see double-digit growth in China over the coming years. It's a big population and a lot of people want their sneakers."
Adidas plans to add about 2,500 stores in smaller Chinese cities over the next five years, expanding its presence to 1,400 cities from 550 now.
Consumers in smaller cities want "access to global brands,'' Christophe Bezu, Adidas' Greater China chief, said at a briefing in Shanghai.
China Suppliers
Adidas faces the challenge of managing its prices in China as inflation and raw-material costs rise, said Sophia Wu, a Shanghai-based analyst at Sinopac Securities. She has a neutral rating on Li Ning.
China will be the biggest source of products for the Herzogenaurach, Germany-based company for at least another 10 years, even as suppliers may "have to raise salaries for their workers," Hainer, 56, said in a separate interview on Bloomberg TV. Adidas buys 35 percent to 40 percent of its products from suppliers in China, he said.
Belle International Holdings Ltd. has the biggest market share in China's clothing and footwear market with 6.5 percent, according to Euromonitor. Li Ning, the Chinese sportswear maker started by a former Olympic gymnast, ranked second with 2.6 percent and Anta Sports Products Ltd. was third with 2 percent by 2010, according to the researcher.
Adidas today said Colin Currie will take over from Bezu as managing director for Greater China, effective Jan. 1. Bezu will be the company's chief e-commerce officer next year.
To contact the Bloomberg News staff on this story: Michael Wei in Beijing at mwei13@bloomberg.net
To contact the editor responsible for this story: Frank Longid at flongid@bloomberg.net
Find out more about Bloomberg for iPhone: http://m.bloomberg.com/iphone/Sent from iPhone
MEDICINAL DRUGS RISKY SIDE AND MEDICAL SYSTEM EFFECTS
Check out this article that I saw in USA TODAY's iPhone application.
Caregiving: When doctors can't connect the dots
http://usat.me?41125044
To view the story, click the link or paste it into your browser.
To learn more about USA TODAY for iPhone and download, visit: http://usatoday.com/iphone/
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ElMundo.es - Un amigo te envia una noticia
El billete del AVE Madrid-Valencia costará 79,8 euros
Spanish high speed train is outing new lines in service and in the coming years can configure a natinal grid of terrestrial fast transport but I seriously doubt it will succed as much as in the past, new low cost flight lines and competence in the aerial sector is showing a clear problem now, fast trains are too expensive in Spain.Viene el Ave a Valencia, mu caro diria yo, el tiempo dira SI en Los medios recorridos (Mas de 350 km menos de 800 digamos) la batalla la gana el tren o el avion.......... Teniendo en cuenta posibles cambios y evolucion tecnica en ambos sectores........ No lo tengo nada claro. A corto plazo empresas privadas en competencia frente a una publica monopolista: no lo va a tener fácil el tren, a pesar de que el ser humano esta mas cómodo sin alejarse mucho de tierra firme.
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EUROTROBLES AGAIN
El Gobierno portugués no descarta la expulsión del país de la zona euro
Portugal prime minister trough his foreing affaires minister is talking about the country leaving the common currency, the idea seems to be pressing the opposition party for coalition govern, just to share the really ugly perspectives, but the european counterparts may find this kind of statements not that bad in the middle of the currencies battle with americans et all trying to weaken their currencies in order to export moré and pay back the debts cheaper. Interestly enough in the middle of 600 billón $ QEII started theese days dolar is not weakining against euro but the opposite thanks to Irish debt concerns and what else?
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HAY GENTE PA TO
Quería arreglar su PC y acabó pagando 15 millones a falsos agentes de la CIA
ElMundo.es en tu iPhone - iPod Touch a través del App StoreSent from iPhone
VIVIENDA, LA BANCA GANA, PERO MENOS
La banca mueve ficha para soltar lo antes posible su pesado lastre inmobiliario
En el articulo se explican las promociones, artimañas y perrerias a las que acuden las entidades para colocar su muy importante stock de viviendas. Sobre la previsible evolución futura del precio, anotese en algún sitio que el banco de España ha dado instrucción de provisionar el 30% del valor en libros
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JASF
Me decía ayer un amigo que era joven pero sobradamente fracasado,
hay que ver en que ha devenido el anuncio aquel.............. Una
juventud preaparada pero en paro, sin acceso a crédito y muy poco
motivada por un país donde ni el mérito ni el esfuerzo ni la
capacidad son los factores determinantes de éxito, donde poner una
empresa requiere mas tramites que en la mayoría de los países del
tercer mundo y donde las niñas no sueñan ser princesas sino
funcionarias ........... Pena de país y de circunstancias
hay que ver en que ha devenido el anuncio aquel.............. Una
juventud preaparada pero en paro, sin acceso a crédito y muy poco
motivada por un país donde ni el mérito ni el esfuerzo ni la
capacidad son los factores determinantes de éxito, donde poner una
empresa requiere mas tramites que en la mayoría de los países del
tercer mundo y donde las niñas no sueñan ser princesas sino
funcionarias ........... Pena de país y de circunstancias
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