PPCC. PIsitófilos Creditófagos. Otoño 2020

[sudden and sharp]

https://www.vozpopuli.com/economia-y-finanzas/banca-creditos-morosidad_0_1406860596.html

La banca da por hecho un repunte de los créditos dudosos, que suman ya 70.500 millones

La semana pasada, José Sevilla, consejero delegado de Bankia, adelantaba una reflexión: “A medida que se retrase la recuperación económica, la crisis de liquidez de ciudadanos y empresas puede convertirse en una crisis de solvencia”.

Vaya, vaya.. El político que enseñó economía a ZP en dos tardes - así nos fue con tal profe y tal alumno - ahora nos anuncia que, no contentos con haber hundido Caja Madrid, es posible que logren rehundirla. ¿Re-rescataremos la Kaja re-hundida? ¿Se la re-regalaremos a CaixaBank? ¿Seremos tan re-gilipollas y re-cobardes los españoles?

¿Serán tan re-criminales nuestros políticos? (La gente no tiene ni voz ni voto en esto. No fue ningúna promesa electoral lo de regalar --tal cual--, el único banco semipublico a la practica, a nadie. Sí estaría de acuerdo en ir re-a-fi-lan-do las guillotinas....)

[visillófilas pepitófagas]

https://www.vozpopuli.com/economia-y-finanzas/banca-creditos-morosidad_0_1406860596.html

La banca da por hecho un repunte de los créditos dudosos, que suman ya 70.500 millones

La semana pasada, José Sevilla, consejero delegado de Bankia, adelantaba una reflexión: “A medida que se retrase la recuperación económica, la crisis de liquidez de ciudadanos y empresas puede convertirse en una crisis de solvencia”.

Vaya, vaya.. El político que enseñó economía a ZP en dos tardes - así nos fue con tal profe y tal alumno - ahora nos anuncia que, no contentos con haber hundido Caja Madrid, es posible que logren rehundirla. ¿Re-rescataremos la Kaja re-hundida? ¿Se la re-regalaremos a CaixaBank? ¿Seremos tan re-gilipollas y re-cobardes los españoles?

De cabeza, era Jordi Sevilla, casi.

Correcto, corregimos. Gracias por la indicación. Increíble, pero lo comprobamos en Google antes de postearlo y nos salió un resultado erróneo 

[Derby]

https://cincodias.elpais.com/cincodias/2020/11/05/economia/1604566723_477806.html

Bruselas empeora la previsión de 2020 para España, pero anticipa el mayor rebote del PIB en 2022



La Comisión Europea ha constatado este jueves los efectos de la segunda ola de la pandemia de coronavirus Covid-19 en la economía española, con "una desaceleración sin precedentes" que llevará a una caída del PIB del -12,4% durante 2020, la mayor de todos los países de la Unión Europea con mucha diferencia. A partir de aquí, eso sí, Bruselas constata un rebote del 5,4% en 2021, en línea con el resto de los socios, y del 4,8% en 2022, en esta ocasión muy por encima de las demás capitales, solo por debajo de Malta.

Con todo, según recoge el forecast de otoño hecho público hoy, el Ejecutivo comunitario empeora las previsiones presentadas en su último análisis, a comienzos de verano. Entonces, Bruselas hablaba de un retroceso del 10,9% en 2020 en España, para repuntar un 7,1% en 2021. En las previsiones anteriores, en primavera, la caída inicial sería del 9,4%, para rebotar un 7% un ejercicio después.(...)

https://www.eleconomista.es/economia/noticias/10869414/11/20/Ningun-pais-europeo-se-hundira-tanto-como-Espana-Bruselas-preve-las-peores-cifras-de-PIB-paro-y-deficit.html

Ningún país europeo se hundirá tanto como España: Bruselas prevé las peores cifras de PIB, paro y déficit

[Derby]

https://www.expansion.com/pais-vasco/2020/11/05/5fa408c5e5fdea30558b45ec.html?intcmp=NOT002

Competencia abre expediente a inmobiliarias vascas por pactar precios de alquileres

La Autoridad Vasca de la Competencia ha incoado expediente sancionador a varias empresas del sector inmobiliario por posibles prácticas anticompetitivas en el mercado vasco.

Durante la fase de información reservada, los responsables vascos de Competencia han detectado un posible acuerdo de fijación de precios y de otras condiciones comerciales en el alquiler de vivienda.

Por ello, la AVC ve una infracción a la libre competencia, que se da además en un mercado que afecta a un colectivo "especialmente vulnerable".

La apertura de este expediente no prejuzga el resultado final de la investigación, ya que los indiciones "racionales" que lo motivan son de carácter provisional, según Competencia.

[Derby]

https://vantagepointtrading.com/news/ecb-outpacing-fed-on-qe-and-about-to-buy-some-more/

ECB Outpacing Fed on QE – And About to Buy Some More

ECB Going Full Japanese

The chart above shows the length the central banks went during the coronavirus pandemic.

Consensus exists between central bankers that the QE programs are more effective in easing the monetary policy. That is, more effective than cutting the rates below zero.

The first reaction to the crisis for all central banks in the developed economies was to cut the rates to zero – or awfully close to it. Those that had the rate already into negative territory (e.g., ECB), engaged in QE and some other easing forms (e.g., explicit forward guidance).

One way or another, all these central banks embarked on QE. The process involves buying their own government bonds (i.e., debt) with the aim of lowering the yields. In doing so, the ECB comes closer to the Bank of Japan if we compare the percentages of central banks’ purchases of the marketable securities or debt issued by their governments during the pandemic.

The ECB outpaces even the Fed (71% vs. 57%) and threatens to take out the BOJ sooner rather than later. Last week, the ECB hinted that it would further ease monetary conditions in the Eurozone. However, the ECB already has the deposit facility rate into negative territory for several years now. Therefore, the most effective way to do so is to buy national banks’ bonds but also the new bonds issued by the European Commission (i.e., SURE bonds).

If that is going to be the case, the ECB threatens to become the central bank with the largest percentage of debt bought during the pandemic. However, considering that many European economies are in lockdown mode for the second time this year, the ECB may not have any other options.

[Raf909]

Hacienda prepara otra subida de impuestos tras la crisis

    La secretaria de Estado anuncia un comité de expertos para reformar el sistema tributario
    Pide una fiscalidad que "fomente la vida saludable" y tenga "perspectiva de género"

La secretaria de Estado de Hacienda, Inés Bardón, anunció este miércoles que el Ministerio trabaja ya en la creación de un "comité de expertos" que estudie una "profunda reforma del sistema fiscal" cuando finalice la crisis del coronavirus Covid-19. "Tenemos que replantear el sistema para hacerlo justo y que conduzca a un mundo más sostenible y adaptado a la economía digital del siglo XXI", destacó la secretaria de Estado.

Bardón compareció este miércoles en la Comisión de Presupuestos del Congreso de los Diputados. Durante su intervención, confirmó que el Gobierno lanzará su reforma fiscal tras la crisis y pidió incrementar la presión fiscal a los niveles medios de la Unión Europea. "No podemos tener un estado de bienestar de primera con unos ingresos de tercera", manifestó.

"Perspectiva de género"

Entre las medidas que están sobre la mesa, la secretaria de Estado apuntó a una fiscalidad que incentive "los hábitos de vida saludables" y que tenga "perspectiva de género". Sin embargo, reconoció que debido a la crisis del coronavirus se deben posponer estas medidas. "Hay que hacerlo con rigor y cuando la recuperación lo permita", apuntó en su intervención.

Bardón adelantó que se van a establecer "requisitos adicionales" para disfrutar de los beneficios fiscales de las sicav, como exigir a los accionistas una participación mínima de 2.500 euros, para lo que se otorgará competencias a la Agencia Tributaria para comprobar dicho requisito. Detalló que esta medida no se incluirá en las nuevas cuentas públicas, sino en otras leyes aparte, que recogerán otras medidas como el tipo mínimo del 15% para beneficios no distribuidos de las socimis. Bardón explicó que los PGE y las previsiones de ingresos y gastos incorporan el factor de la incertidumbre derivada de la crisis sanitaria y económica generadas por la pandemia de Covid-19.

Asimismo, señaló que los PGE adoptan un "enfoque expansivo" para impulsar la recuperación económica y ha detallado que este año los ingresos no financieros alcanzarán los 223.208 millones, un 7,3% menos. El proyecto de PGE de 2021 contempla que los ingresos no tributarios alcanzarán los 255.631 millones, un 14,5% más. Dentro de estos, los ingresos tributarios sumarán una cifra de 222.107 millones de euros, lo que supone un incremento del 13% respecto al avance de liquidación previsto para este año, tras caer un 7,6% este ejercicio por la crisis económica.

En cuanto a las novedades fiscales, defendió que se dirigen a "rentas altas y grandes empresas" y son de "limitado alcance", sin perjuicio de que un comité de expertos se encargará de revisar las figuras para acometer en el futuro una reforma tributaria integral, porque "no se puede tener un estado de bienestar de primera con unos ingresos de tercera"  . Bardón explicó que se incluye un aumento de dos puntos en el IRPF para las rentas del trabajo de más de 300.000 euros, elevando el tipo marginal dos puntos al 47%, y tres puntos para las rentas de capital de más de 200.000 euros, hasta el 26%.

En época de crisis aumenta los impuestos y ahoga más al sector productivo, camino perfecto para crear un erial.

Por cierto, el estado gasta 530.000 millones de euros, nade de gastos de tercera, gastan lo que no tienen, por más que suban los impuestos más aumenta el gasto. Parece ser que lo de gastar menos y ahorrar algo solo es para autónomos y empresas.

https://es.statista.com/estadisticas/501658/evolucion-ingresos-y-gastos-publicos-espana/

Y para terminar usan el chivo expiatorio de" los impuestos irán dirigidos a rentas altas y grandes empresas”. ¿Se refiere a Amancios Ortegas? O al desgraciado que se desloma para sacar 30 k sucios anuales?  ¿Se refiere a las grandes empresas de España que todas viven del BOE? ¿O se refiere al empresario que se esfuerza, vende y más o menos va tirando?

Impresionante.

¿Bueno y lo de compararse con los países ricos, solo se comparan con el gasto, porque no se comparan con las otras cosas??? ¿Como por ejemplo el ahorro, la inversión productiva, la transparencia pública, la ausencia de corrupción, la ausencia de votos comprados con pensiones y sueldos públicos? ¿Porque cuando nos comparamos siempre vemos el coche del vecino, pero nunca el esfuerzo que hay detrás para conseguirlo??

La TE vendrá por decadencia, no por convencimiento.

La TE vendrá por decadencia, no por convencimiento.


Que gran verdad

[mpt]

La TE vendrá por decadencia, no por convencimiento.

alcanzar lo inevitable de la peor manera; en las peores condiciones posibles para lo que venga despues

[Derby]

Los plazos parecen los mismos en todos los paises... 5-6 meses. Que quedará para entonces?

https://www.theticketingbusiness.com/2020/11/05/uk-extends-furlough-scheme-march-2021/

UK EXTENDS FURLOUGH SCHEME UNTIL MARCH 2021

UK Chancellor Rishi Sunak has today (Thursday) extended the furlough scheme until the end of March 2021, with employees to receive up to 80 per cent of their salaries.

The news comes as England goes into its second lockdown until December to slow the spread of COVID-19. The scheme, which will particularly benefit the live events industry, was originally set to run until October, but was previously extended to December 2.

In addition, the self-employment income support scheme (SEISS) for freelancers has been extended, with a third grant calculated at 80 per cent of average trading profits, up to a maximum of £7,500.

Sunak said: “I’ve always said I would do whatever it takes to protect jobs and livelihoods across the UK, and that has meant adapting our support as the path of the virus has changed. It’s clear the economic effects are much longer lasting for businesses than the duration of any restrictions, which is why we have decided to go further with our support.

“Extending furlough and increasing our support for the self-employed will protect millions of jobs and give people and businesses the certainty they need over what will be a difficult winter.”(...)

[Raf909]

https://www.vozpopuli.com/economia-y-finanzas/banca-creditos-morosidad_0_1406860596.html

La banca da por hecho un repunte de los créditos dudosos, que suman ya 70.500 millones

La semana pasada, José Sevilla, consejero delegado de Bankia, adelantaba una reflexión: “A medida que se retrase la recuperación económica, la crisis de liquidez de ciudadanos y empresas puede convertirse en una crisis de solvencia”.

Vaya, vaya.. Ahora nos anuncian que, no contentos con haber hundido Caja Madrid, es posible que logren rehundirla. ¿Re-rescataremos la Kaja re-hundida? ¿Se la re-regalaremos a CaixaBank? ¿Seremos tan re-gilipollas y re-cobardes los españoles?

Edit: corregida la confusión entre José Sevilla y Jordi Sevilla.

Porqué pensáis que tendrá que ser rescatada? Y que será un regalo para CaixaBank?

Lo pregunto por curiosidad. Yo de la noticia de la supuesta fusión, siempre creí que era por salvar lo que quedaba del chiringuito y de los reinos de taifas (es decir, de parte de la red clientelar). Tenía la sensación que la cosa estaba jodida y tenía pinta de venir tan jodida, que o acordaban alguna cosa así o serían presa de OPA o compra por por parte de algún banco Europeo en unos meses o años.

Proteger el chiringuito por un lado, y por otro vender que se hace para que no pase como con Iberia.

[Derby]

https://www.theparliamentmagazine.eu/news/article/very-serious-divergences-remain-as-two-weeks-of-intensive-brexit-talks-draw-to-a-close

Brexit: ‘Very serious divergences remain’

As two weeks of intensive Brexit talks draw to a close, the EU and UK’s chief Brexit negotiators said that the level playing field, governance and fisheries remain significant obstacles to reaching an agreement.

[Derby]

https://www.thenationalnews.com/business/banking/bank-of-england-injects-extra-150bn-into-economy-as-furlough-scheme-extended-to-march-1.1106160

Bank of England injects extra £150bn into economy as furlough scheme extended to March

The Bank of England injected a further £150 billion ($195bn) of stimulus into the UK economy on Thursday as it warned a second wave of the coronavirus pandemic will lead to a slower, bumpier recovery.

The BoE’s bigger-than-expected bond-buying programme - the fourth round of quantitative easing (QE) since March – takes the total stimulus to £895bn and comes as the lender also held its benchmark interest rate at a record low of 0.1 per cent.

“This extra QE is unlikely to be the last expansion. We think the Monetary Policy Committee will announce at least £100bn more QE in 2021, more than the consensus currently expects,” said Ruth Gregory, senior UK economist at Capital Economics.(...)

[Derby]

https://oilprice.com/Latest-Energy-News/World-News/Norwegians-Got-Paid-To-Use-Electricity-As-Prices-Fall-Below-Zero.html

Norwegians Got Paid To Use Electricity As Prices Fall Below Zero

Electricity prices in parts of Norway fell below zero for the second time in history early on Monday, and residents in southern Norway ‘got paid’ for using electricity as power producers have to pay to sell electricity when prices are negative.

According to Norwegian outlet E24, electricity prices in and around Oslo and Kristiansand were negative for four hours in the early hours of Monday.

This was the second time in history that electricity prices in Norway have dropped below zero. In early July, electricity prices in Norway went negative for one hour. Back then, some of the reasons for the first-ever negative electricity prices were a lot of snow in the mountains, limited exports of electricity, and the start of the summer vacations during which Norwegian power consumption is lower than normal. 

The latest negative electricity price from Monday was the result of heavy rainfall and wind in recent weeks as well as higher imports of nuclear power from Sweden, analysts told E24. Higher than normal seasonal temperatures also contributed to low power demand in southern Norway.

Electricity prices are expected to rise with the coming of the winter in the Nordic country, experts said.

Norway, Western Europe’s biggest oil and gas producer, generates most of its electricity from hydropower. According to Norwegian company Statkraft, hydropower accounts for 99 percent of all power generation in Norway. Globally, hydropower represents around one-sixth of the total generated electricity supply, Statkraft says.

According to Statistics Norway, hydropower accounted for 91.2 percent of electricity production in the country in September 2020, followed by wind power with a 7.1-percent share, and thermal power with 1.6 percent. The latest annual estimate from Statistics Norway shows that hydropower accounted for 95.0 percent of the country’s electricity production in 2018.

[Derby]

https://www.calculatedriskblog.com/2020/11/fomc-statement-no-change.html

FOMC Statement: No Change

Fed Chair Powell press conference video here starting at 2:30 PM ET.

FOMC Statement:

The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.

The COVID-19 pandemic is causing tremendous human and economic hardship across the United States and around the world. Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year. Weaker demand and earlier declines in oil prices have been holding down consumer price inflation. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.

The path of the economy will depend significantly on the course of the virus. The ongoing public health crisis will continue to weigh on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term.

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With inflation running persistently below this longer-run goal, the Committee will aim to achieve inflation moderately above 2 percent for some time so that inflation averages 2 percent over time and longer-term inflation expectations remain well anchored at 2 percent. The Committee expects to maintain an accommodative stance of monetary policy until these outcomes are achieved. The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee's assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time. In addition, over coming months the Federal Reserve will increase its holdings of Treasury securities and agency mortgage-backed securities at least at the current pace to sustain smooth market functioning and help foster accommodative financial conditions, thereby supporting the flow of credit to households and businesses.

In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on public health, labor market conditions, inflation pressures and inflation expectations, and financial and international developments.

Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Mary C. Daly; Patrick Harker; Robert S. Kaplan; Loretta J. Mester; and Randal K. Quarles. Ms. Daly voted as an alternate member at this meeting.

[pedrito]

Parece que la pandemia está empezando a tomar caminos inesperados:.

Dinamarca sacrificará alrededor de 15 millones de visones después de que una versión mutada del coronavirus se propague a la gente.
https://www.dw.com/en/denmark-to-cull-all-farmed-minks-over-coronavirus-mutation/a-55501832?fbclid=IwAR2Xt7ZQOhjOz3X2uS0tQ9WtRv_EiLltJoABsYkAORJM5KeyOIS_K_EqcAo

Denmark to cull all farmed minks over coronavirus mutation

Denmark has said it would cull around 15 million minks after a mutated version of the coronavirus spread to people. The government said the mutation poses a risk to the efficacy of future vaccines.

Denmark will cull all minks in Danish farms to minimize the risk of them re-transmitting COVID-19 to humans, Danish Prime Minister Mette Frederiksen announced on Wednesday.

Frederiksen said a report from a government agency that tracks the coronavirus in Denmark has discovered a mutation in the virus found in 12 people in the northern part of the country who became infected by minks.

She cited that the mutated virus was found to weaken the ability to form antibodies and could potentially render vaccines under development ineffective.

"The mutated virus in mink may pose a risk to the effectiveness of a future vaccine," Frederiksen said at a press conference.

''It is very, very serious,'' she added. '' Thus, the mutated virus in minks can have devastating consequences worldwide.''

Health Minister Magnus Heunicke said half the 783 human coronavirus cases in northern Denmark ''are related'' to mink.

Minister for Food Mogens Jensen said that at least 207 farms were now infected, up from 41 last month, and that the virus has spread to all of the western peninsula of Jutland.

Denmark's home guard, police and defence forces are assisting in the cull.

National police chief Thorkild Fogde said the culling ''should happen as soon as possible.''

Millions of minks to be culled

The government said that the culling of the country's estimated 15 million minks could cost up to 5 billion kroner ($785 million, €670). The government has promised to compensate farmers.

Authorities have been calling for the culling of infected mink herds since June due to persisting outbreaks at mink farms.

On October 1, Denmark already ordered the cull of an estimated one million animals on about 60 mink farms in northern Denmark after initial discoveries of COVID-19.

Denmark is the world's largest producer of mink skins, producing an estimated 17 million furs per year.

Kopenhagen Fur, a cooperative of 1,500 Danish breeders, accounts for 40% of world mink production. Most of its exports go to China and Hong Kong.

The Nordic country has recorded 50,530 coronavirus infections with 729 deaths.

¿Alguien sabe si es normal en el mundo de las granjas y ganaderías que haya sacrificios masivos por causa de virus que pasan de los animales a los humanos? Yo desde luego nunca lo había oido.

[Yupi_Punto]

Parece que la pandemia está empezando a tomar caminos inesperados:.

Dinamarca sacrificará alrededor de 15 millones de visones después de que una versión mutada del coronavirus se propague a la gente.
https://www.dw.com/en/denmark-to-cull-all-farmed-minks-over-coronavirus-mutation/a-55501832?fbclid=IwAR2Xt7ZQOhjOz3X2uS0tQ9WtRv_EiLltJoABsYkAORJM5KeyOIS_K_EqcAo

Denmark to cull all farmed minks over coronavirus mutation

Denmark has said it would cull around 15 million minks after a mutated version of the coronavirus spread to people. The government said the mutation poses a risk to the efficacy of future vaccines.

Denmark will cull all minks in Danish farms to minimize the risk of them re-transmitting COVID-19 to humans, Danish Prime Minister Mette Frederiksen announced on Wednesday.

Frederiksen said a report from a government agency that tracks the coronavirus in Denmark has discovered a mutation in the virus found in 12 people in the northern part of the country who became infected by minks.

She cited that the mutated virus was found to weaken the ability to form antibodies and could potentially render vaccines under development ineffective.

"The mutated virus in mink may pose a risk to the effectiveness of a future vaccine," Frederiksen said at a press conference.

''It is very, very serious,'' she added. '' Thus, the mutated virus in minks can have devastating consequences worldwide.''

Health Minister Magnus Heunicke said half the 783 human coronavirus cases in northern Denmark ''are related'' to mink.

Minister for Food Mogens Jensen said that at least 207 farms were now infected, up from 41 last month, and that the virus has spread to all of the western peninsula of Jutland.

Denmark's home guard, police and defence forces are assisting in the cull.

National police chief Thorkild Fogde said the culling ''should happen as soon as possible.''

Millions of minks to be culled

The government said that the culling of the country's estimated 15 million minks could cost up to 5 billion kroner ($785 million, €670). The government has promised to compensate farmers.

Authorities have been calling for the culling of infected mink herds since June due to persisting outbreaks at mink farms.

On October 1, Denmark already ordered the cull of an estimated one million animals on about 60 mink farms in northern Denmark after initial discoveries of COVID-19.

Denmark is the world's largest producer of mink skins, producing an estimated 17 million furs per year.

Kopenhagen Fur, a cooperative of 1,500 Danish breeders, accounts for 40% of world mink production. Most of its exports go to China and Hong Kong.

The Nordic country has recorded 50,530 coronavirus infections with 729 deaths.

¿Alguien sabe si es normal en el mundo de las granjas y ganaderías que haya sacrificios masivos por causa de virus que pasan de los animales a los humanos? Yo desde luego nunca lo había oido.

Yo creo que sí, muy habitual.
Sacrificios de vacas, gallinas, cerdos, con vacas locas, gripe aviar, etc.