PPCC-Pisitófilos Creditófagos-Verano 2022

[wanderer]

Eso explica la visita de BoJo a Ucrania cuando tenían la tregua encima de la mesa. Que Ucrania se rindiera (o incluso que aceptara las condiciones rusas para quedarse igual) nunca fue una opción (para Europa, que no pone ni un sólo muerto en la mesa).

Un mundo nuevo con dos bloques (occidental por un lado, BRICS + satélites por otro). Un nuevo telón de acero y dos sistemas.

Lo jodido es que esta vez es el otro bloque el que tiene la energía barata, las materias primas y la producción industrial, y el nuestro el de la burocracia sin sentido y los derechos sociales recortándose.

Al final los resilientísimos europeos seremos los únicos que traguemos con el monstruoso impuesto al CO2, hasta que estemos todos en la miseria o instalando guillotinas en Bruselas (y Madrid, y París, y Roma). Si esto no es plan para dinamitar la UE desde dentro que baje el Señor y lo vea porque a mí cada vez me cuesta más entender qué está pasando.

Mmm... bueno. El que tuvo retuvo. Occidente ya se ha repuesto de muchas crisis a lo largo de su historia, y si estamos aquí es precisamente por esa capacidad de resiliencia.

Si bien es cierto que la tecnología no va a ser la salvadora si no va acompañada de reformas, Occidente siempre ha ido por delante. La única competidora real que veo en ese sentido es China. Siguen siendo muy de seguir el guión -el "terrible Gaokao" es un examen fácil y se aprueba con la chorra, la competencia real es por sacar más nota, y la preparación es memorística y repetitiva hasta las náuseas-, pero con tanta población pueden permitirse un reducto de cerebros que sí piensen como un occidental y sepan transgredir las reglas.

Pues igual que aquí con la EBAU. Se aprueba por la gorra (me consta, que en varias ocasiones he sido evaluador), pero la competencia real está por sacar notas próximas al máximo de 14, que permiten el acceso a los codiciados grados STEM o a Medicina; el que las notas de bachillerato vengan infladas de serie no ayuda, en contra de lo que se pudiera pensar.

En general Oriente ha sido más bien sumiso con las reglas y sin capacidad de cuestionar. Atreverse a cuestionar y poner en duda es condición sine qua non para progresar, Occidente lo hace desde los antiguos griegos si no antes.

Como ya he mencionado en varias ocasiones, soy muy aficionado al anime, y Japón usa descaradamente eso no sólo como negocio de entretenimiento, sino al modo como hacen los EEUU con Hollywood para tener una buena ración de poder blando, que además se beneficia de estar (casi) libre de la religión woke, cosa que en no poca medida está detrás de su explosión de popularidad en todo el mundo, y en Occidente en particular; China intenta posicionarse también en ése mundo, pero no ofrecen ni de lejos algo similar en cuanto a riqueza y variedad de sus historias, pues están demasiado lastrados por su totalitarismo. Su poder blando es esencialmente cero patatero -.y lo saben.-

Tema recursos. ¿De qué le ha servido a Rusia tener el gas y el petróleo? Lo que han cobrado se ha desviado a la corrupción. Oriente Medio ha sido mucho más listo invirtiendo ese dinero y diversificando su economía, porque saben que no podrán vivir del petróleo para siempre. Eso se agota.

La sumisión de Europa a EEUU... ni lo dudes, llevamos así desde la misma segunda guerra mundial. Pero a EEUU también le interesa que Europa no se hunda como entonces. Se cuenta una anécdota sobre uno de los generales del ejército español, de rango más alto, cuando fue a EEUU a despachar. Le dijeron

- ¿Qué ve usted aquí?
- Un mapamundi.
- Me explicaré mejor, ¿qué ve usted en el centro del mapamundi?
- Veo a España.
- Pues por eso está usted aquí.

La posición geoestratégica importa y mucho. Obviamente en el hemisferio del Pacífico Europa no pinta nada, pero en todo el otro hemisferio está en "tol medio". Y más ahora que como dices se huele otro telón de acero, que esta vez incluiría sólo a Rusia, Bielorrusia, y quizá alguno de los caucásicos. Pero adiós a los satélites que se escaparon en el 89, adiós a los bálticos, y a Ucrania y Moldavia.

Todos esos tienen a los rusos más que calados, y no los pueden ni ver.

Y verás qué risa como a los rusos le quiten Sebastopol. Se quedarían con Kaliningrado como el último puerto de aguas calientes en su flanco occidental.

Kaliningrado (la antigua Königsberg, patria de I.Kant), está en el Báltico, así que más bien es de aguas no-frías. Si tocaran mucho las narices a los países escandinavos, entre Dinamarca y Suecia pueden declarar el Báltico como su charco particular cerrando el estrecho de Kattegat.

[Benzino Napaloni]

Me la voy a jugar: China se viene con nosotros.

Oceanía siempre ha estado en guerra con Eurasia.

Como siempre, los intereses hacen extraños compañeros de cama. Ya se decía (no sé si es real de Churchill o apócrifa), que el enemigo no se sienta en el Parlamento enfrente de ti, sino a tu lado. Y además los intereses son cambiantes. El que hoy te da un beso, mañana te suelta una patada en el culo. O viceversa.

Si tras la ruptura con la URSS, China se acercó a EEUU, no me sorprendería que esta vez haga pinza con Europa. No tenemos recursos naturales que venderles... pero sí muchas mercancías que comprarles. Una economía exportadora no puede permitirse el lujo de perder sus clientes. Japón ya ensayó en los 80 el "bueno, no pasa nada, lo que ya no me compran los de fuera me lo autocompro yo", y luego les vino lo que les vino.

[pollo]

Bueno, parece que realmente está en marcha la pasteurización, viendo el cambio de discurso de los medios lameculos habituales.

Veremos qué resultados tiene. Pienso comprar muchas palomitas y disfrutar del espectáculo.

[newclo]

The Kobeissi Letter

1. Mortgage rates cross 6% for first time since 2008

2. FedEx warns of huge slowdown in shipping

3. Computer chip producers fall on weak demand

4. Housing prices down 6% in 2 months

5. Credit card debt up 30% in 4 months

Recession is an understatement.

2:51 p. m. · 16 sept. 2022

The Kobeissi Letter

We are beginning to see the signs of the recession hitting the economy.

Consumers have run out of money, basic needs have become unaffordable, and companies are under pressure.

Next, the housing market's decline will accelerate.

Lastly, the credit card debt bubble will burst.

5:51 a. m. · 16 sept. 2022

[el malo]

No se vayan todavía... que aun hay más.






Josep Borrell: “Es el momento de resistir, no podemos arrugarnos ahora”
https://www.lavanguardia.com/internacional/20220916/8527991/josep-borrell-momento-resistir-no-podemos-arrugarnos-ahora.html
Los aplausos a la valentía del pueblo ucraniano casi resonaban en la Eurocámara cuando Josep Borrell se sentó con La Vanguardia para charlar de los dos grandes temas, con permiso de la monarquía británica, de la actualidad europea: Ucrania y la energía. La guerra “ha entrado en una nueva fase”, dice el alto representante para Asuntos Exteriores de la Unión Europea, preocupado porque la ciudadanía entienda lo que está en juego.



Rendirse no ha estado NUNCA sobre la mesa... Si sale a colación ahora la palabra "arrugarse" es porque...

... TRADUCIENDO ...

Ya tenemos el 120% de gas para el invierno... y el 250% de la armas sobre el terreno...

... y al Putin le va a caer la del PULPO.







Judas Priest - Screaming for Vengeance (Official Audio)
https://www.youtube.com/watch?v=TN7Lv0PR4Q8

Eso explica la visita de BoJo a Ucrania cuando tenían la tregua encima de la mesa. Que Ucrania se rindiera (o incluso que aceptara las condiciones rusas para quedarse igual) nunca fue una opción (para Europa, que no pone ni un sólo muerto en la mesa).

Un mundo nuevo con dos bloques (occidental por un lado, BRICS + satélites por otro). Un nuevo telón de acero y dos sistemas.

Lo jodido es que esta vez es el otro bloque el que tiene la energía barata, las materias primas y la producción industrial, y el nuestro el de la burocracia sin sentido y los derechos sociales recortándose.

Al final los resilientísimos europeos seremos los únicos que traguemos con el monstruoso impuesto al CO2, hasta que estemos todos en la miseria o instalando guillotinas en Bruselas (y Madrid, y París, y Roma). Si esto no es plan para dinamitar la UE desde dentro que baje el Señor y lo vea porque a mí cada vez me cuesta más entender qué está pasando.

Me la voy a jugar: China se viene con nosotros.

Hace un tiempo te hubira dado la razón. Hoy, con EEUU auspiciando el AUKUS y preparando el terreno internacional para imponer sanciones a China por lo de Taiwan (ja-ja) no lo tengo nada claro.

A ver si al final nos pasamos de frenada y es China el que hace el agosto, quedándose con los recursos de Rusia, la producción industrial del mundo entero y la deuda de todo el bloque occidenta.

[sudden and sharp]

No se vayan todavía... que aun hay más.






Josep Borrell: “Es el momento de resistir, no podemos arrugarnos ahora”
https://www.lavanguardia.com/internacional/20220916/8527991/josep-borrell-momento-resistir-no-podemos-arrugarnos-ahora.html
Los aplausos a la valentía del pueblo ucraniano casi resonaban en la Eurocámara cuando Josep Borrell se sentó con La Vanguardia para charlar de los dos grandes temas, con permiso de la monarquía británica, de la actualidad europea: Ucrania y la energía. La guerra “ha entrado en una nueva fase”, dice el alto representante para Asuntos Exteriores de la Unión Europea, preocupado porque la ciudadanía entienda lo que está en juego.



Rendirse no ha estado NUNCA sobre la mesa... Si sale a colación ahora la palabra "arrugarse" es porque...

... TRADUCIENDO ...

Ya tenemos el 120% de gas para el invierno... y el 250% de la armas sobre el terreno...

... y al Putin le va a caer la del PULPO.







Judas Priest - Screaming for Vengeance (Official Audio)
https://www.youtube.com/watch?v=TN7Lv0PR4Q8

Eso explica la visita de BoJo a Ucrania cuando tenían la tregua encima de la mesa. Que Ucrania se rindiera (o incluso que aceptara las condiciones rusas para quedarse igual) nunca fue una opción (para Europa, que no pone ni un sólo muerto en la mesa).

Un mundo nuevo con dos bloques (occidental por un lado, BRICS + satélites por otro). Un nuevo telón de acero y dos sistemas.

Lo jodido es que esta vez es el otro bloque el que tiene la energía barata, las materias primas y la producción industrial, y el nuestro el de la burocracia sin sentido y los derechos sociales recortándose.

Al final los resilientísimos europeos seremos los únicos que traguemos con el monstruoso impuesto al CO2, hasta que estemos todos en la miseria o instalando guillotinas en Bruselas (y Madrid, y París, y Roma). Si esto no es plan para dinamitar la UE desde dentro que baje el Señor y lo vea porque a mí cada vez me cuesta más entender qué está pasando.

Me la voy a jugar: China se viene con nosotros.

Hace un tiempo te hubira dado la razón. Hoy, con EEUU auspiciando el AUKUS y preparando el terreno internacional para imponer sanciones a China por lo de Taiwan (ja-ja) no lo tengo nada claro.

A ver si al final nos pasamos de frenada y es China el que hace el agosto, quedándose con los recursos de Rusia, la producción industrial del mundo entero y la deuda de todo el bloque occidenta.

Los recursos de Asia los tiene ya. (Y sin calzarse las botas.)








[ Es lo que tiene NO hacer el idiota. ]

[Derby]

https://wolfstreet.com/2022/09/16/the-fed-stopped-buying-mbs-today/

The Fed Stopped Buying MBS Today.

The purpose of MBS purchases was to repress mortgage rates and inflate home prices. That process has already started to reverse.

A date for history: Today, September 15, the Fed stopped buying mortgage-backed securities altogether. It had been tapering its purchases since late last year. Since June, when the phase-in of QT started, it still purchased MBS to replace some of the pass-through principal payments from mortgage payoffs and mortgage payments that reduced the balance of its MBS faster than the cap of $17.5 billion. The idea was to keep the run-off of MBS within the cap of $17.5 billion in June, July, and August. But this circus is finally over.

On today’s release of scheduled purchases by the New York Fed, there were zero MBS purchases scheduled:



The Fed’s final trade in MBS.

Yesterday, September 14, the Fed conducted its final purchase of MBS. The Fed bought $387 million in MBS in the To Be Announced (TBA) market, which is a minuscule amount by the Fed’s standards. It went out with a whimper, so to speak.[

This is a screenshot of the trade that the New York Fed posted on its website. I underlined the operation date (Sep 14) and the settlement date (Oct 20):



Trades in the TBA market settle after one to three months. As you can see in the image of the trade info above, this particular trade will settle on October 20.

The Fed books these trades when they settle. So, it will book this trade on October 20, which is a Thursday. Its weekly balance sheets are always as of Wednesday evening, and are published on Thursday. This trade will show up on the next balance sheet after October 20, which is the balance sheet to be released on October 27.

So halleluiah, the balance sheet on October 27 will show the final purchases of MBS. And then it’s over.

A trickle of trades haven’t settled yet.

The MBS that were purchased over the past two months will still trickle into the weekly balance sheet until October 27.

This includes a batch of MBS trades that the Fed conducted on July 25 and that settled on September 14, and that showed up on today’s balance sheet. Here is one of the trades that settled yesterday and was included today:



In total, $9.2 billion in MBS trades showed up on the balance sheet today. It is these trades, when they settle, that cause the balance of MBS to rise in the jagged manner.

MBS come off the balance sheet mostly through pass-through principal payments. When the underlying mortgages are paid off because a home is sold or a mortgage is refinanced, or when regular mortgage payments are made, the principal portion is forwarded by the mortgage servicer (such as your bank) to the entity that securitized the mortgage (such as Fannie Mae), which then forwards those principal payments to the holders of the MBS (such as the Fed).

The book value of the MBS shrinks with each pass-through principal payment. This reduces the amount of MBS on the Fed’s balance sheet.

These pass-through principal payments are uneven and unpredictable, and do not match the purchases in the TBA market. So the MBS balances form this jagged line of increases when TBA purchases settle, and the decreases when the pass-through-principal payments come off.

The upticks are the purchases from one to three months ago, when the Fed was still phasing in QT and was still purchasing MBS to replace pass-through principal payments. The downticks are the pass-through principal payments. Sometimes both coincide, and the net moves are smaller:



(...) Going to zero?

Going forward, after October 27, 2022, after the last MBS purchases have shown up, the upticks will disappear, and the line will smoothen as it heads down. But this time, the decline will be steeper and faster.

The Fed has said many times over the years that it wants to get rid of its MBS entirely, and that it wants only Treasury securities as assets. So if everything goes according to plan, the MBS balances will go to zero. And this might require that the Fed starts selling MBS outright later in the process to supplement the pass-through principal payments. The Fed has already put this option on the table.

The entire episode of MBS on the Fed’s balance sheet started in late 2008, when the Fed for the first time started buying MBS as part of QE-1. By the peak in April, 2022, the Fed had $2.74 trillion in MBS on its balance sheet.

The purpose of MBS purchases was to repress mortgage rates and inflate home prices. That process has already started to reverse.

[Derby]

https://www.post-gazette.com/business/money/2022/09/16/FedEx-warns-of-a-global-recession-cutting-sales-forecast-by-half-a-billion-dollars/stories/202209160118

FedEx warns of a global recession, cutting sales forecast by half a billion dollars

FedEx warned that a global recession could be coming, as demand for packages around the world tumbles.

Shares of FedEx plunged 22% in early afternoon trade Friday after the company warned late Thursday that a slowing economy will cause it to fall $500 million short of its revenue target. The weakening global economy, particularly in Asia and Europe, has hurt FedEx's express delivery business. The company said demand for packages weakened considerably in the final weeks of the quarter.

FedEx, which has its Ground operations in Moon, said it expects business conditions to further weaken in the current second quarter, which runs through November. While global revenue this quarter is likely to be flat compared to a year earlier, FedEx's earnings are expected to plunge more than 40%. Analysts had been forecasting a gain in profit.

During an interview Thursday on CNBC, FedEx CEO Raj Subramaniam was asked if he believes the slowdown in his business is a sign of the start of a global recession.

"I think so," he responded. "These numbers, they don't portend very well."

He said FedEx is seeing a decline in the volume of freight it is handling in every region around the world. While he said US consumers are somewhat protected by the strength of the dollar, which is increasing their purchasing power, he said FedEx is seeing a slowdown in Americans' spending as well.

The warning sparked a broad sell-off in US stocks, with the three major indexes all down more than 1% on the FedEx news. The Dow Transportation Index fell almost 6%, while shares of FedEx rival UPS lost fell 5%.

If FedEx shares close near the 22% drop as of afternoon trading, it will be the stock's worst one-day drop in history — topping the 16% plunge the day of the 1987 stock market crash, and a 15% drop during the stocks sell-off in March 2020 in the early days of the pandemic. Shares of FedEx are now down 38% so far this year.

The company said it is responding by reducing flights and temporarily parking aircraft, trimming hours for its staff, delaying some hiring plans and closing 90 FedEx Office locations as well as five corporate offices. It is also cutting $500 million from its capital expenditure budget for its fiscal year, which runs through May of 2023, trimming that spending to $6.3 billion.

"We're going fully into cost-management mode," he told CNBC.

FedEx said its adjusted earnings for the quarter that ended Aug. 31 will be down $260 million, or 17%, from a year earlier. Revenue rose $1.2 billion, or 5%, despite missing the company's earlier target.

While it gave the sharply lowered guidance for the current quarter, FedEx said it was withdrawing its full-year guidance issued in June due to the "continued volatile operating environment.

FedEx Ground service, which is the primary way the company handles deliveries of online purchases made by US consumers, missed its sales target by $300 million. FedEx Ground has several locations in the region, including Zelienople and Neville Island.

The company uses independent contractors, not employees, to make deliveries, and many of those contractors are complaining that rising costs for fuel, labor and new vehicles has made their business unprofitable. Some are threatening to halt operations on Black Friday, just at the start of the holiday shopping season, unless FedEx agrees to change their compensation.

FedEx insists it will work with contractors who are having problems. It has sued the former contractor who has been the most vocal critic of the company.

"We recognize that current economic conditions are posing new challenges," FedEx Ground said in a statement last month. "We remain committed to working with service provider businesses individually to address the challenges specific to their situation. Our goal is to enable success for both FedEx Ground and service providers."

About 1,000 of the 6,000 contractors who work for FedEx have joined a trade association to lobby the company for better compensation.

A survey conducted by the association released this week found 54% saying their business with FedEx was losing money, 35% saying it was breaking even, and only 11% saying it was profitable. The association said the survey reached 1,200 contractors working for the company or who left the company within the last 12 months.

https://www.marketwatch.com/story/fedex-shares-on-track-for-their-worst-week-since-the-1987-stock-market-crash-2022-09-16

FedEx shares on track for their worst week since the 1987 stock market crash

FedEx Corp. shares FDX, -21.40% are currently down 23.4% on the week, putting them on track for their worst week since the stock market crash of October 1987. The stock lost 25.6% in the week through Oct. 23 of 1987. (...)

[Cadavre Exquis]

https://www.lavanguardia.com/economia/20220915/8525912/subida-tipos-seco-euforia-inmobiliaria.html

Saludos.

[Cadavre Exquis]

https://www.lavanguardia.com/internacional/20220916/8527982/rusia-marca-lineas-rojas-ee-uu.html

Saludos.

[Cadavre Exquis]

https://www.lavanguardia.com/internacional/20220915/8527875/china-rusia-putin-xi-jinping-ucrania-guerra.html

Saludos.

[Derby]

https://financialpost.com/news/economy/bank-of-canada-losing-money-first-time-rising-rates

The Bank of Canada is losing money for the first time ever on rising rates

Central bank anticipates losses for the next three years, depending on how its inflation fight goes

The Bank of Canada’s historic fight against deflation during the COVID recession, and now the startling inflationary surge that has come in the recovery’s wake, will likely bring to an end the central bank’s untarnished streak of profitability.

“We expect the bank’s net interest income to be negative when our third-quarter results are published on Nov. 29,” the central bank said in a statement that was initially provided to the Toronto Star. “The bank’s interest expense is growing because of increases in the interest rate that we pay on deposits.”

It’s easy to forget that central banks are set up to operate like any other financial institution. The Bank of Canada has a board of directors that oversees management (governor Tiff Macklem and senior deputy governor Carolyn Rogers) on behalf of its shareholders (taxpayers, via the federal government) and it has a balance sheet with assets and liabilities.

Typically, the Bank of Canada’s balance sheet makes money because the liabilities consist almost entirely of bank notes, which don’t pay interest, while on the other side, the central bank earns interest on its assets. The Bank of Canada Act says the central bank must send its profit to the federal treasury at the end of each fiscal year. Recently, that’s been about $1 billion a year.

But the Bank of Canada Act predates quantitative easing, or QE, an anti-deflation tactic that involves creating deposits in the form of deposits for creditors at the central bank, and then using those newly created deposits to buy bonds and other financial assets. The Bank of Canada deployed QE for the first time during the COVID crisis, flooding the financial system with the equivalent of hundreds of billions of dollars to help keep downward pressure on interest rates and to increase the capacity of banks to lend money.

An unintended consequence of that policy is that for the first time in its 87-year history, the Bank of Canada is on track to lose money for an extended period, as interest expenses on deposits climb in tandem with the benchmark interest rate, which Macklem has raised by three percentage points since March in an attempt to cool demand that has helped push annual inflation to about eight per cent, the highest level since the early 1980s.

QE worked, and maybe a little too well, as the economy appears to have entered a phase of “excess demand” at the same time acute supply-chain snarls limited supply of goods, and Russia’s invasion of Ukraine sparked a surge in commodity prices. Canada’s consumer price index is hovering around an annualized pace of eight per cent, compared with the Bank of Canada’s target of two per cent. Policymakers are now executing a hard pivot to get inflation under control by raising interest rates and reversing QE by ending purchases and letting the assets on its balance sheet roll off as they mature.

Some economists think that containing inflation will require triggering a recession. While that remains to be seen, it’s clear that one casualty will be the Bank of Canada’s net interest income, or the difference between revenues from interest-bearing assets and liability costs. The large-scale asset purchases that remain on the balance sheet happened at a time when interest rates were much lower than they are today, and the coupon rate on bonds was relatively higher than the rate paid on deposits.

Initially, QE represented a profitable strategy. The Bank of Canada reported net interest revenue jumped nearly 20 per cent in 2021 from 2020, to about $3.1 billion. The statement, provided by spokesman Paul Badertscher, noted that the the central bank sent the federal government an additional $2.6 billion over those two years. But now, the situation has reversed. The statement said the central bank anticipates losses for the next three years, depending on how its inflation fight goes.

It’s a new challenge for the Bank of Canada, but it’s not alone, as most of the world’s major central banks resorted to QE to fight the recession, and now find themselves battling to keep inflation from hitting double digits.

In New Zealand, the government simply covers potential losses for the Reserve Bank of New Zealand. But the Bank of Canada Act doesn’t allow Macklem to retain net income from previous years to handle shortfalls in the future, nor is there a provision that requires the federal government to make the central bank whole. The issue will almost certainly get sorted; in the meantime, the Bank of Canada said in its statement that it has stopped paying interest on government reserves as a way to reduce liabilities, noting that other central banks have done the same.

Benjamin Tal, deputy chief economist of CIBC Capital Markets, said the Bank of Canada is not in the business of making money and absorbing a loss to stave off what could have been a terrible recession is an acceptable trade-off.

“That’s their way of looking at that and there is no impact on the economy,” Tal said in an email. “They do not lose sleep over it.”

The Bank of Canada reiterated that its focus would be trained on tackling high inflation and that the large-scale assets purchases the bank underwent over the past two years coincided with its mandate to preserve the country’s financial well-being.

“The bank makes policy decisions based on our mandate to keep inflation low, stable and predictable,” the statement said. “We do not make policy decisions to manage our balance sheet.”

[asustadísimos]

ESTA INFLACIÓN ES RARA PORQUE NACIÓ ROTA (CONT.).—

Los dos grandes poliedros imposibles del Pensamiento Mágico Leydeofertademandista:
— «una mano invisible fija los precios...»
— «...y hay una conspiración para impedirlo».

La verdad es que:
— salvo en contadísimas ocasiones, nunca nadie negocia precios...
— ... y las conspiraciones para fijarlos no son tan invisibles, incluida la connvinencia difusa por creernos ricos (Patrimonio), siendo pobres (Renta).

Pero tengan ánimo. Queda poco. Háganse una idea de la hipotética inflación que habría y, sobre todo, de sus expectativas, habida cuenta de la diferencia de nivel —en particular, vean las puertas del abismo en que nos encontramos—:

'Yield curve' de la deuda pública norteamericana,
el día 12 de junio de 2000 (línea superior) y hoy (línea inferior)
https://stockcharts.com/freecharts/yieldcurve.php

Esta vez, repetimos, las autoridades no van contra la presunta inflación, sino contra la inflación de activos, sencillamente, porque el sistema no la aguanta.

[Cadavre Exquis]

No se vayan todavía... que aun hay más.






Josep Borrell: “Es el momento de resistir, no podemos arrugarnos ahora”
https://www.lavanguardia.com/internacional/20220916/8527991/josep-borrell-momento-resistir-no-podemos-arrugarnos-ahora.html
Los aplausos a la valentía del pueblo ucraniano casi resonaban en la Eurocámara cuando Josep Borrell se sentó con La Vanguardia para charlar de los dos grandes temas, con permiso de la monarquía británica, de la actualidad europea: Ucrania y la energía. La guerra “ha entrado en una nueva fase”, dice el alto representante para Asuntos Exteriores de la Unión Europea, preocupado porque la ciudadanía entienda lo que está en juego.



Rendirse no ha estado NUNCA sobre la mesa... Si sale a colación ahora la palabra "arrugarse" es porque...

... TRADUCIENDO ...

Ya tenemos el 120% de gas para el invierno... y el 250% de la armas sobre el terreno...

... y al Putin le va a caer la del PULPO.







Judas Priest - Screaming for Vengeance (Official Audio)
https://www.youtube.com/watch?v=TN7Lv0PR4Q8

Saludos.

[gregorsamesa]

Con los 300000 al año que se levanta el no muy honrado.... (https://www.lavanguardia.com/economia/20181127/453203278459/cnmv-multa-borrell-venta-acciones-abengoa.html)
Si que es verdad que tardas en arrugarte.