PPCC. PIsitófilos Creditófagos. Verano 2020

[Derby]

https://www.elconfidencial.com/espana/2020-06-26/comercios-chinos-no-echan-cierre-por-miedo-rebrotes-coronavirus-es-falta-liquidez_2656240/

Los comercios chinos no cierran por miedo a un rebrote, sino porque se han arruinado

No han cerrado sus negocios por miedo al virus, ni la embajada china les ha pedido que echen el cierre, esto es un bulo y así lo desmienten varios representantes de la comunidad china

[mpt]

Lo lógico si tienes que trabajar y tienes hijos en casa es ir enseñándoles a hacer tu trabajo para tenerlos entretenidos.

siempre se ha recomendado que los niños pequeños vayan a conocer el trabajo de los padres, donde es, que hay alli, que se hace, que hace el tutor legal; que lo ignoren es una laguna importante que hay que cubrir

Los comercios chinos no cierran por miedo a un rebrote, sino porque se han arruinado

emulando a un ilustre forero "aqui van a quebrar .... hasta los chinos"

[Derby]

https://www.theguardian.com/world/2020/jun/26/for-europe-survive-economy-needs-survive-angela-merkel-interview-in-full

'For Europe to survive, its economy needs to survive': Angela Merkel interview in full

Given the sheer number of crises, is the EU’s survival on the line?

Rather than ask the existential question too often, we should get on with the day job. It is very much in all the member states’ own interests to maintain a strong European internal market and to stand united on the world stage. In such an extraordinary situation, I rely on the member states having a great interest in the things that unite us.

(...)Your proposal for a recovery fund was a major concession to the southern countries. What reform efforts are you expecting in return?

I don’t find it helpful to talk about the northern countries, the southern countries and the eastern Europeans. That is seeing things in black and white. I expect each of us always to put ourselves in the other person’s shoes and consider problems from the other’s point of view.

The group known as the ‘frugal four’ is pursuing a defensive approach. Why has Germany left the cautious camp?

For Italy and Spain, for example, the coronavirus pandemic signifies a huge burden in economic, medical and, of course, because of the many lives lost, emotional terms. In these circumstances, it is only right for Germany to think not just about itself but to be prepared to engage in an extraordinary act of solidarity. It was in that spirit that French President Emmanuel Macron and I made our proposal.

Going into higher levels of debt is a U-turn for Germany. What happened to the chancellor with the tight purse strings?

In a crisis of this magnitude, each and every one of us is expected to do what needs to be done. What needs to be done in this case is something extraordinary. Germany had a low debt ratio and can afford, in this extraordinary situation, to take on some more debt. It is also very important to us to keep the programme within the bounds of the European treaties. We have found a way to do that.

And all this is in our own interests too, of course. It is in Germany’s interest to have a strong internal market and to have the European Union grow closer together, not fall apart. As ever, what’s good for Europe is good for us.

The recovery fund has generated an odd kind of harmony. Is the money drawing a veil over the real problems of burgeoning nationalism and latent populism?

The recovery fund cannot solve all of Europe’s problems. But not having it would make all our problems worse. Europe’s economic health can influence so many things. Very high unemployment in a country can become politically explosive and thereby increase the threat to democracy. For Europe to survive, its economy needs to survive.

Might the recovery fund spark movement towards a United States of Europe?

I see this fund as a unique response to a unique situation. If we wanted to change fundamental aspects of the way the EU budget is managed or, for instance, give it the right to raise taxes, then we would have to amend the treaties. That would alter the static equilibrium between competence and oversight. I am sure this will be discussed in the years ahead, but that should be done cautiously. In the current situation, however, we could not wait for the treaties to be amended. We have to respond quickly to the pandemic.

Do you think Nadia Calviño [Spain’s economic affairs minister] would make a good Eurogroup president?

The finance ministers are discussing that at the moment. It is no secret that there is support for Nadia Calviño’s candidature in the German government. But the final decision lies with the Eurogroup. I am always pleased when women get leading political roles, and the Eurogroup has never been headed by a woman. But it’s not my decision. This is for the Eurogroup to decide.

(...)The presidency wanted to find a joint strategy for dealing with China. Is that still realistic?

Because of the pandemic, we cannot hold the summit with China in September as planned. But we intend to hold it later. Its objective is to advance EU-Chinese relations. We share common interests, such as cooperating on climate action. We have been negotiating an investment agreement for some time but are not really moving forward on that. We should discuss our development policies in Africa, where China is following a different path in some areas.

At the same time, the summit is forcing us to develop a joint European position vis-à-vis China. That is no easy task. We should develop a policy that reflects our interests and values. After all, respect for human rights, the rule of law and our concerns about the future of Hong Kong stand between China and ourselves and are addressed openly.

Is China calling the western, democratic edifice of Europe into question?

We should start by doing everything we can to make ourselves more resilient. We need to stand together as Europeans, otherwise we will only weaken ourselves. China has become a global player. That makes us partners in economic cooperation and combating climate change, but also competitors with very different political systems. Not to talk to each other would certainly be a bad idea.

A no-deal Brexit is looming at the end of the year. Would that be a personal defeat for you?

No. It would, of course, be in Britain’s and all EU member states’ interests to achieve an orderly departure. But that can only happen if it is what both sides want. What matters is not our wishes but only the reality before us, in other words first of all what Britain wants. With Prime Minister Boris Johnson, the British government wants to define for itself what relationship it will have with us after the country leaves. It will then have to live with the consequences, of course, that is to say with a less closely interconnected economy. If Britain does not want to have rules on the environment and the labour market or social standards that compare with those of the EU, our relations will be less close. That will mean it does not want standards to go on developing along parallel lines.

We need to let go of the idea that it is for us to define what Britain should want. That is for Britain to define – and we, the EU27, will respond appropriately.

[Derby]

https://www.elconfidencial.com/empresas/2020-06-26/abengoa-trabajadores-nominas-totalidad_2657324/

Abengoa comunica a sus trabajadores que no puede afrontar las nóminas en su totalidad

[R.G.C.I.M.]

Comparto con vds el texto íntegro que envíe a sede en Irlanda de Airbnb en el año de nuestro señor de 2015.

Tras previos correos ofreciendo pruebas documentales y 2 conferencias de horas con un representante de atención al cliente ( ni tan solo era del dpto legal).
Su respuesta en breve fue:
"Denuncienos."


Aquí mi correo de cierre de asunto :

"Dear Xabier.
I dont know if you are the Xabier i talked to yesterday.
If that is so, nothing personal ahead.

As you shall guess, i wont act as you suggest.
Neither ill take legal action against you, you being a huge corporation filled with contracts and legal depparment, me a simple individual.

Once this stated, here is my message.

THATS WHAT I CALL A VERY ETHICAL BUSINESS: AIRBNB.

I reckon in the long run, same evolution as UBER.

Make money meanwhile.

Have a nice day"


Siéntate a la puerta de casa y verás el cadáver de tu enemigo.

Lo jodido es que los hideputas para entonces ya se han hecho millonarios. Los que pringan son los inocentes cipollas y necesitados.

QSJ Airbnb!!!!!!!

[Rocoso]

Por qué?  vamos a ver los argumentos.... ninguno

El coronavirus dificultará el acceso a la vivienda, especialmente en las grandes ciudades

Los problemas de accesibilidad a la vivienda para las familias "previsiblemente se agravarán" con la actual crisis económica derivada de la COVID-19, según un informe elaborado por el Círculo de Empresarios.

Esta situación, añade el estudio, "afecta especialmente" a las grandes ciudades que concentran la actividad económica y a los centros turísticos.

Ante el impacto del coronavirus en el sector y en la economía, unido al problema de acceso de los jóvenes a la vivienda y los desincentivos a los que se enfrentan los propietarios para ofrecer nuevas viviendas en alquiler, el Círculo de Empresarios ha difundido este viernes sus propuestas durante la presentación del informe.

Veamos las soluciones al problema....venga la cantinela de siempre:

Así, la solución para este colectivo "pasa principalmente por diseñar y aplicar" políticas de oferta y recomienda ampliar la oferta de suelo para incrementar la construcción de vivienda.


https://www.expansion.com/economia/2020/06/26/5ef5de33e5fdeaa1348b45e6.html

Está claro que están locos por hacerse con su porción del dinero europeo por venir.

No perdamos de vista la oportunidad que viene con ello. Construir no tiene por qué ser malo; al contrario, si conseguimos que la nueva vivienda asequible se comercialice al coste (o sea, que sea asequible de verdad) con provisión previa de suelo público semi gratuito, presionaremos a la baja el precio de la vivienda de casi cualquier gama.

Tiene razón Asustadísimos en que hemos de tener en cuenta la necesidad de regeneración de nuestro paisaje urbano. ¿Se dan cuenta de que damos por normales en un país desarrollado calles así?:

[Derby]

https://www.expansion.com/empresas/transporte/2020/06/26/5ef60c94e5fdea82158b45e0.html

Ámsterdam prohíbe los alquileres turísticos en el centro de la ciudad

Amsterdam prohibirá los alquileres turísticos, en tres barrios que conforman el casco antiguo de la ciudad a partir del 1 de julio, ante la "presión" del turismo en la calidad de vida de los residentes.

[Derby]

https://www.elconfidencialdigital.com/articulo/dinero/desplome-ofertas-trabajo-verano-60-menos-hoteles-restaurantes-bares/20200625194406147310.html

Desplome de las ofertas de trabajo para verano: 60% menos en hoteles, restaurantes y bares

Se anunció que el turismo sería el motor de reactivación económica tras la pandemia. Sorpresa en las empresas de empleo temporal: va a ser el sector que menos contrataciones realice

[Yupi_Punto]

Lo lógico si tienes que trabajar y tienes hijos en casa es ir enseñándoles a hacer tu trabajo para tenerlos entretenidos.

[Derby]

https://thefelderreport.com/2020/06/24/the-biggest-disconnect-between-prices-and-profits-in-stock-market-history/

The Biggest Disconnect Between Prices And Profits In Stock Market History?

Everyone is talking about the massive disparity between stock prices and fundamentals right now. To paraphrase Jeremy Grantham, we now find ourselves in the top 1% of stock market valuations and the bottom 1% of economic outcomes (based on the annualized rate of decline in second quarter GDP). A popular way to demonstrate this gap is seen in the chart below which plots total equity values along with total corporate profits.



At first glance, it appears this is the biggest disconnect between prices and profits in at least 30 years. However, if we turn this into a price-to-earnings ratio, it becomes clear that the stock market bubble of 20 years ago actually takes the cake.



But what a simple price-to-earnings ratio doesn’t account for is the fact that Dotcom bubble appears so severe in the chart above largely because profit margins were relatively depressed at the time. Furthermore, profit margins in recent years became extremely inflated. This serves to make stock prices over the past few years look less expensive than they otherwise would.



So if we normalize profit margins (hat tip, John Hussman), we can see that stock prices today are more expensive than they were 20 years ago at the peak of the Dotcom mania. It turns out that the current disconnect between stock prices and sustainable profits is, in fact, greater than anything we have seen in modern history.

[senslev]

https://www.youtube.com/watch?v=MrYt_4A_Mxk

Si alguien quiere perder el tiempo dos minutos se habla de ciclos en real estate (38:28 a 40:algo), techo 2020/2021. El día anterior otro analista habla de 2022/2023.

[Rui Brennan]

Lo lógico si tienes que trabajar y tienes hijos en casa es ir enseñándoles a hacer tu trabajo para tenerlos entretenidos.

Hace más de 30 años, cuando era bastante chico, mi padre se trajo un par de veces de la tienda de electricidad donde trabajaba cajas y cajas de interruptores y enchufes, para que mi hermano, mi primo y yo los montásemos. Nos pasamos un par de domingos enteros montando y charlando, y luego nos daba para un Mortadelo y una Patrulla X. Lo recuerdo con bastante dulzura .  Aunque eso si, mi hermano es el que ha acabado siendo el manitas mientras que yo soy el manazas  .

[Derby]

https://uk.reuters.com/article/us-global-economy-inflation-poll/coronavirus-legacy-will-be-weak-global-inflation-economists-idUKKBN23X00X

Coronavirus legacy will be weak global inflation: economists

The coronavirus pandemic is more likely to leave a legacy of weak or falling prices for goods and services than to trigger higher global inflation, according to a majority of over 160 economists polled by Reuters.

The finding underlines how early fears disruption to supply chains would lead to price hikes have since been overtaken by a consensus that the real problem is a deep slump in demand as the crisis hits millions of livelihoods.

Beyond being a symptom of recession, weak price growth or outright deflation also creates more headaches for the world’s biggest central banks, many of whom have for years failed to reach official inflation targets.

Over 70% of more than 160 economists from Asia to Europe to the Americas in the latest poll said the bigger threat once the pandemic is under control would be lower prices. That proportion was roughly evenly spread by region as well.

“Once the pandemic subsides, disinflation is the bigger worry as the pandemic is currently the main progenitor of supply friction,” said Robert Carnell, ING’s chief economist for Asia-Pacific. “Any inflation spikes should be temporary and give way to lower inflation or a lower price level after their initial impact.”



(...)Olivier Blanchard, senior fellow at the Peterson Institute for International Economics, agreed low inflation was most likely but cited the outside chance a second wave of infections would force governments to borrow to fund disaster relief programmes while pressuring central banks to keep rates low to decrease the debt burden.

“While today’s Fed would not yield to such pressure, a future Fed, with a chair appointed by a populist president, might be more willing to bend and keep rates low for too long, leading to overheating and inflation,” he said.

He noted the probability of such scenarios around the world was very small, “but it is not quite zero.”

[Derby]

https://technocodex.com/danone-adopts-new-legal-status-to-reflect-social-mission/

Danone Adopts New Legal Status To Reflect Social Mission

Danone shareholders voted on Friday to enshrine the group’s mission to bring “health through food” to consumers into its corporate bylaws, becoming France’s first big listed company to adopt a new legal status created by the government last year.

After 99 per cent of shareholders voted for the change, Danone will turn into a so-called enterprise à mission, or purpose driven company. The legal status requires Danone not only to generate profit for its shareholders, but do so in a way that it says will benefit its customers’ health and the planet.

France passed a law last year to modify its civil and commercial codes to allow companies to take greater consideration of social and environmental issues. It sought to broaden the idea of what animates companies by rejecting the traditional idea that a company exists primarily to maximise the wealth of its owners, the shareholders.

Danone chief executive Emmanuel Faber was instrumental in building support for the French law, and has long been an advocate for the idea that companies need to act both for economic and social ends. For example, he has pushed Danone to disclose a new financial metric called “carbon-adjusted EPS” to expose the invisible cost of polluting.

“You have toppled the statue of Milton Friedman here today,” said Mr Faber at a video-streamed meeting, referring to the renowned American economist and proponent of free markets. In 1970, Mr Friedman wrote an article with the blunt title “The social responsibility of business is to increase its profits” to debunk the idea that corporations should also do good.

The move comes at a time when many companies are re-examining their priorities, including their purpose and sustainability programmes, as they brace for a coming recession.

With the changes, Danone has set out social, societal and environmental objectives, and its progress towards them will be judged by a committee of 10 outside experts.

They will report once a year to the annual shareholder meeting, and will be paid €25,000 a year. Their ranks include Guido Barilla, the chairman of pasta maker Barilla; Rose Marcario, the former head of outdoor clothing maker Patagonia; Pascal Lamy, the former head of the World Trade Organization; and Sharan Burrow, who heads the International Trade Union Confederation.

Danone’s shares closed little changed on Friday, and it remains to be seen whether the governance changes will affect investors’ view of the company.

Danone has for years traded at a lower valuation multiples than larger consumer goods companies like Nestle and Unilever, reflecting its poorer performance in terms of returns on invested capital. Since the Covid-19 pandemic hit, the gap has widened. Its forward price-to-earnings ratio stands at 17, while Nestlé’s is 23.9 and Unilever 19.5, according to S&P Global Market Intelligence.

[JENOFONTE10]

Ámsterdam prohibirá los alquileres de Airbnb en el centro de la ciudad
[...]

¿AIRBNB?.

Airbnb y la crisis del coronavirus: "Tardamos 12 años en construir la empresa y perdimos casi todo en cuestión de semanas"
[...]
El director ejecutivo de Airbnb lo tiene claro: el turismo tal y como lo conocíamos ha pasado a la historia.

"Nadie sabe cómo será, pero creo que veremos una redistribución de dónde viaja la gente".

En ese nuevo panorama y con los datos que tiene disponibles Airbnb, Chesky prevé que el enfoque recaerá en el turismo interno, con viajes a comunidades locales cercanas entre la incertidumbre generada por el virus.
[...]
Airbnb planificaba salir a bolsa este año, una acción que no descartan pero a la que no se comprometen tampoco.

Su cofundador considera que es momento para ser "más medido" y no ver las cosas desde los extremos.

"Espero que estos últimos cuatro meses hayan sido una lección".
https://www.bbc.com/mundo/noticias-53187906

Saludos.