PPCC: Pisitófilos Creditófagos. Verano 2023

[Cadavre Exquis]

https://www.eleconomista.es/economia/noticias/12447304/09/23/el-gobierno-no-podra-cambiar-la-ley-montoro-para-aprobar-presupuestos.html

Saludos.

[Cadavre Exquis]

https://www.eleconomista.es/economia/noticias/12447159/09/23/el-eurogrupo-endurece-el-tono-con-las-perspectivas-economicas-y-abre-la-puerta-a-una-fiscalidad-mas-restrictiva.html

Saludos.

[Cadavre Exquis]

https://www.eleconomista.es/economia/noticias/12445920/09/23/los-salarios-subieron-un-5-y-alcanzaron-los-2262-euros-en-el-segundo-mejor-trimestre-en-23-anos.html

Saludos.

[Cadavre Exquis]

https://www.eleconomista.es/economia/noticias/12444831/09/23/el-muro-del-periodo-de-prueba-no-deja-de-crecer-se-cobra-574000-empleos-en-lo-que-va-de-ano.html

https://www.eleconomista.es/vivienda-inmobiliario/noticias/12446170/09/23/boom-de-pisos-compartidos-ni-son-baratos-ni-cosa-de-los-mas-jovenes-.html

Saludos.

[Urederra]

Feliz Domingo.

Los pensionistas navarros denuncian: "Nos estamos quedando sin ahorros"

La inflación está obligando a muchos pensionistas a cargar con los gastos extras e hipotecas del entorno familiar

https://www.diariodenavarra.es/noticias/navarra/2023/09/17/pensionistas-navarros-denuncian-quedando-ahorros-582673-300.html

[Derby]

Sigue la limpieza...

https://www.reuters.com/markets/asia/china-police-detain-some-evergrande-wealth-management-staff-2023-09-17/

China police detain some Evergrande wealth management staff

BEIJING, Sept 17 (Reuters) - Police in southern China have detained some staff at China Evergrande Group's wealth management unit, suggesting a new investigation that could add to the property giant's woes.

"Recently, public security organs took criminal compulsory measures against Du and other suspected criminals at Evergrande Financial Wealth Management Co.," Shenzhen city police said in a social media statement on Saturday night.(...)

[senslev]

Vivir en Mallorca y trabajar en Ibiza: 10 aviones semanales para conservar la plaza y conciliar

Docentes de Baleares denuncian que se ven obligados a cubrir puestos en una isla diferente a la de residencia y en la que no pueden asumir el coste de una vivienda

https://elpais.com/educacion/2023-09-17/vivir-en-mallorca-y-trabajar-en-ibiza-10-aviones-semanales-para-conservar-la-plaza-y-conciliar.html

[RAIORTEGA]

Como médico que resido en Ibiza doy fe del estado lamentable de las instituciones públicas debido a este problema. Pero sabéis una cosa? A la gente tampoco les importa tanto.
Tal vez por eso en gran parte del mundo la gente carece de sanidad pública y están acostumbrados. Te acostumbras a todo. Si te mueres de un ictus en Formentera, pues es lo que hay. Al margen de que en ciertos ámbitos muy científicos la calidad percibida y la calidad realizada están muy distanciados. Entre hacer una reso de 3 teslas de potencia o un Pet-tac y apuntar al paciente con un puntero láser del chino y decirle que su biomagnetismo tiene parásitos os digo q muchos pacientes no notan la diferencia.

Enviado desde mi NTH-NX9 mediante Tapatalk

[Derby]

https://www.bloomberg.com/news/articles/2023-09-17/brazil-calls-on-rich-nations-to-pay-for-global-energy-transition#xj4y7vzkg

Brazil Calls on Rich Nations to Pay for Global Energy Transition

Min. Alexandre Silveira speaks before UN General Assembly
Brazil ‘comes out ahead’ with greater demand for biofuels

Brazil is calling on wealthy nations to pay for the world’s transition to sustainable energy as these countries need bolder commitments to make up for their reliance on polluting power sources.

Developing countries “cannot finance an energy transition in the mold of Europe and the US,” and need assistance from the developed world, Brazil’s Mines and Energy Minister Alexandre Silveira said in an interview in New York. Industrialized nations should take on bigger challenges as “they get their energy from much less clean sources than those in the Global South.”(...)

[Derby]

https://www.ft.com/content/5948fd27-8195-4974-879e-125546112be3

Chinese shadow bank exposed to troubled property developers

Doubts over health of Zhongrong have added to broader concerns about China’s economy

The Chinese shadow bank at the heart of concerns over missed payments to customers has lent money to several of the country’s struggling property developers, according to a Financial Times analysis of legal and company filings.

The connections between Zhongrong, a giant of China’s $3tn shadow finance industry, and property developers have fuelled fears of spillover effects from a slowdown in the real estate sector, which accounts for more than a quarter of China’s economic activity.

This has added to mounting concerns about the state of China’s economy, which is struggling to recover after the Covid-19 pandemic.

Zhongrong and other shadow banks in the so-called trust industry sell high-yield savings products to retail investors and companies. They then lend the savings to companies across China, including property developers.

An estimated 11 per cent of Zhongrong’s assets are invested in the property sector, the company has said, but it does not provide information on any of its specific investments, and data across the wider industry is frequently lacking in transparency.

Zhongrong did not disclose its missed payments, and they were instead made public through stock exchange filings by listed companies.

Legal filings from 2022 and 2023 examined by the FT show Zhongrong has pursued more than Rmb8.7bn ($1.2bn) in claims against Sunac, formerly one of China’s largest developers, which defaulted in 2022. Sunac reached an offshore debt restructuring plan in March. It is unclear what, if any, settlement Zhongrong reached with Sunac.

Zhongrong delayed payments on two products due in March 2021 and April 2022, according to a disclosure in April from textile chemicals company Zhejiang Jihua. State media reports linked the products to real estate projects developed by China Fortune Land Development and Sunac, respectively.

In December 2020 Zhongrong lent money in the form of a Rmb1.5bn perpetual bond to China Fortune Land Development, according to the latter’s company filing. The company, one of China’s top developers, defaulted on its international debts two months later.

Zhongrong has also lent an unknown sum to Yango, another major developer that defaulted in 2022. It was repaid Rmb3.3bn when the project related to the loan was sold, according to a Yango filing in June last year.

In May 2022 Zhongrong sued Evergrande and other developers over a loan contract dispute of Rmb1.9bn, according to a 2022 report of Evergrande’s bonds. It is unclear what further exposure Zhongrong has to Evergrande, the world’s most indebted developer. Last month the property group said it faced more than 2,000 lawsuits worth Rmb30mn or more, with a total value of about Rmb535bn.

Zhongrong has had trouble securing repayments from at least one local government, whose high debts are a major concern for Beijing. A government investment fund in the city of Xi’an said in a July filing that it had delayed repayment of a Rmb900m loan to Zhongrong, blaming issues with “land development”.

Zhongrong has total assets of Rmb629bn, according to its 2022 annual report. It is the only large trust company with more than 10 per cent of its overall exposure in real estate.

In a statement on Friday, Zhongrong acknowledged it had been unable to pay some of its products on time and said it had entered into an agreement with state-backed Citic Trust and China Construction Bank Trust, under which they would provide Zhongrong with “entrusted management services”.

The overall trust industry in China, which includes 68 companies, has total assets of Rmb21tn and direct exposure to real estate of Rmb1.1tn as of the first quarter of this year, according to the China Trustee Association.

This data counts bonds, which are often issued by property developers, in a separate category and does not include figures for local government financing vehicles. Trust companies’ exposure to bonds has more than trebled since mid-2020, the data shows.

“There’s no breakdown of how many of the bonds’ [proceeds] are invested in the property sector,” said one analyst covering the sector, who asked not to be named. “The real exposure could be higher than what you’re seeing for property itself.”

Zhongrong, Sunac, Evergrande, China Fortune Land Development, Yango, the Xi’an local government fund and Zhejiang Jihua did not respond to requests for comment.

[Derby]

https://www.ft.com/content/43f904eb-fb6a-4567-b8ee-a69cc16c7538

Economists expect Fed to defy investors with more interest rate rises

FT-Booth survey finds majority of economists think central bank has more work to do to lower inflation

[Cadavre Exquis]

https://www.pressreader.com/spain/actualidad-economica/20230917/page/38/textview

Ranking ae | Coste de la vivienda

Saludos.

[Derby]

https://twitter.com/NipseyHoussle/status/1703434213419008121

@NipseyHoussle When houses can’t be turned into businesses, they generally don’t appreciate because demand is driven by people who actually want to live in it

[asustadísimos]

[Bharat— El cambio de nombre de India por Bharat es simbólico de la libertad de la excolonia frente a las cadenas del imperio angloamericano, tan eurófobo y chinófobo. El liberalismo no es ningún «respeto irrestricto» a nada, mucho menos a ningún proyectito de pequeño mundo de señor Feliciano. La libertad es, aparte de lo que movió a los revolucionarios a finales del siglo XVIII, lo que honraron Goethe y Beethoven en 'Egmont' y lo que honran todos los días los argentinos cuando cantan su himno: «¡Libertad, libertad, libertad! Oíd el ruido de rotas cadenas...»; en ambos casos, contra el imperio español, que para más inri era un imperio católico y generador, no depredador como el angloamericano.]


[100.000 km en un F1.—: Ayer, en el GP F1 de Singapur, un español llegó el primero, Carlos Sainz, y otro, el último, Fernando Alonso, pero este completó 100.000 km en carrera con un F1, algo inimaginable y que será difícil de batir.]


[Los histriones 'concon' y sus problemas con la justicia social.— EL NÚCLEO DURO DE LA JUSTICIA SOCIAL ES LA JUSTICIA CONMUTATIVA, el 'do ut des', la condición resolutoria tácita en las obligaciones recíprocas, la equivalencia de las prestaciones en las relaciones sinalagmáticas, la interdicción del enriquecimiento injusto y de la usura: ¡LA BASE DEL COMERCIO, JUNTO CON EL PRINCIPIO DE BUENA FE MERCANTIL! A los histriones de la Revolución Cultural de Contestatarios Conservadores (en español: Milei, Laje, Kaiser, Rallo, Lacalle, Ayuso) les da por jiñarse en la justicia social —en contra de la tradición, el liberalismo clásico, el Estado del Bienestar y la doctrina social de la iglesia—. Lo hacen solo para regodearse provocando rojos ('La Naranja Mecánica'). Viene de Argentina, donde se da ese socialismo-de-derecha que se llama, precisamente, 'Justicialismo'. Por esta razón, esa basurilla humana que es el tal Milei dice que «el papa Francisco es el representante del Maligno en la Tierra». No es ninguna 'batalla cultural'. Es mera 'batalla electoral' contra el justicialismo posmontonero. Pero la tonta de la atea se lo toma en serio.]

[asustadísimos]

[¿La vivienda por qué tiene que estar correlacionada con la Renta? ¿Lo están los coches? El gráfico traído por Cadavre Exquis, del presidente de la Fundación Civismo,...
https://www.transicionestructural.net/index.php?topic=2594.msg219570#msg219570
... sería una suerte de 'Big Mac Index' que probaría que el PIB de España es mentira, que está inflado. Además, los datos no son de fiar. Son de un sitio no oficial ya conocido por nosotros:
https://www.numbeo.com/property-investment/rankings_by_country.jsp
Fíjense que EEUU sería uno de los países con mejor ratio de precio de la vivienda. ¡Ja, ja, ja!, con las autoridades de ese país diciendo expresamente lo contrario, pidiendo un 'reset'. Todo informe tiene una intención. ¿Dónde está el civismo en este personaje, si se jiña así en las autoridades norteamericanas? Se lee: «Los países con mayor esfuerzo para adquirir vivienda estuvieron tras el telón de acero. Los españoles nos quejamos mucho.]