PPCC: Pisitófilos Creditófagos. Invierno 2024

[Cadavre Exquis]

Citigroup To Cut 20,000 Jobs
Posted by msmash on Friday January 12, 2024 @09:00AM from the how-about-that dept.

Citigroup said it expects to incur as much as $1 billion in severance and reorganization costs this year as it continues the process of eliminating 20,000 roles as part of Chief Executive Officer Jane Fraser's quest to boost the Wall Street giant's lagging returns. From a report:

Total expenses for the year will likely be between $53.5 billion and $53.8 billion, the New York-based bank said Friday. That would be a decrease from the $56.4 billion the firm spent in 2023.

Saludos.

[Derby]

https://www.reuters.com/markets/us/us-producer-prices-unexpectedly-fall-december-2024-01-12/

US producer prices unexpectedly fall; goods deflation seen persisting

*Producer price index falls 0.1% in December
*PPI increases 1.0% year-on-year
*Core PPI increases 0.2%; rises 2.5% year-on-year

WASHINGTON, Jan 12 (Reuters) - U.S. producer prices unexpectedly fell in December amid declining costs for goods such as diesel fuel and food, suggesting inflation would continue to subside and allow the Federal Reserve to start cutting interest rates this year.

The report from the Labor Department on Friday, which also showed prices for services were unchanged for the third straight month, implied that a pick-up in consumer prices last month was likely a blip. It led economists to anticipate that the key price measures tracked by the U.S. central bank for its 2% inflation target rose moderately in December from the prior month.

"The inflation pipeline is clearing and consumer prices will gradually get to the Fed's 2% target," said Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina.

The producer price index for final demand dipped 0.1% last month, the Labor Department's Bureau of Labor Statistics said. Data for November was revised to show the PPI falling 0.1% instead of being unchanged as previously reported. The PPI has now declined for three consecutive months.

Economists polled by Reuters had forecast the PPI rebounding 0.1%. Goods prices dropped 0.4%, with a 12.4% decline in the cost of diesel fuel accounting for half of the decrease.

Goods prices fell 0.3% in November. They have dropped for three straight months. Excluding food and energy, goods prices were unchanged after edging up 0.1% in November.

The weakness also suggested that goods deflation remained in force despite an uptick in consumer goods prices in December following two straight monthly decreases.

Food prices slipped 0.9% last month, with the cost of eggs tumbling 20.5%, but reversing only a fraction of the 71.2% surge in November. An outbreak of avian flu at some commercial farms was behind the spike in prices in November. Wholesale passenger car prices fell 3.0%. But gasoline prices increased 2.1%.

In the 12 months through December, the PPI increased 1.0% after advancing 0.8% in November. Data on Thursday showed consumer prices increased more than expected in December, driven by solid gains in shelter and healthcare costs.

The dollar fell against a basket of currencies. U.S. Treasury prices were mostly higher, while stocks were mixed.



SERVICES PRICES UNCHANGED

Financial markets remain hopeful that the Fed will start cutting interest rates in March, though most economists are leaning towards May or June, given the labor market's resilience. The central bank has hiked its policy rate by 525 basis points to the current 5.25%-5.50% range since March 2022.

Services prices were curbed by declines in margins for machinery and motor vehicle wholesaling. Prices for hotel and motel rooms rose 2.1%. There were also decreases in the costs of transporting freight by road, automobiles and parts retailing, and apparel wholesaling.

But portfolio management fees rebounded 1.5%, reflecting recent stock market gains. Airline fares increased 2.1%. Health and medical insurance costs edged up 0.1%.

With supply chains mostly normalized after severe disruptions during the COVID-19 pandemic, services are at the core of the inflation battle. Services inflation, partly driven by a tight labor market, is less responsive to rate hikes.

Portfolio management fees, healthcare, hotel and motel accommodation, and airline fares are among components in the calculation of the personal consumption expenditures price indexes, the inflation measures monitored by the Fed for monetary policy.

Based on the CPI and PPI data, economists estimated the PCE price index excluding food and energy rose 0.2% in December after gaining 0.1% in November and October. In the 12 months through December, the so-called core PCE price was forecast increasing 3.0%. That would be the smallest year-on-year gain since March 2021 and follow a 3.2% rise in November.

The overall PCE price index is also seen climbing 0.2% in December, with the annual increase forecast to come in at about 2.6%, unchanged from November's advance.

Some economists worried that war in the Middle East and attacks on container ships by Iran-aligned Houthi militants in the Red Sea, which have forced companies to reroute vessels, driving up costs sharply along with insurance premiums, could push up prices of oil and other goods.

But others expected increased oil production in the United States to blunt the impact on consumers.

The narrower measure of PPI, which strips out food, energy and trade services components, rose 0.2% in December after gaining 0.1% in the prior month. The so-called core PPI rose 2.5% on a year-on-year basis after increasing 2.4% in November.

"The key upside risk to inflation is from the war in the Middle East and potential disruptions to trade flows and global energy supplies," said Bill Adams, chief economist at Comerica Bank in Dallas. "But petroleum and renewables output are growing faster than GDP in the U.S., which so far has offset the impact of geopolitical risk and kept energy prices well behaved."

[Derby]

https://www.bloomberg.com/news/articles/2024-01-12/uk-trade-with-eu-reaches-14-year-high-no-thanks-to-brexit

Britain’s Reliance on EU for Trade Reaches a 14-Year High

Increased share reflects lackluster trade with rest of world
Poor trade performance is bad news for global Britain brand

UK trade with the European Union is holding up better than expected — but that’s a result of lackluster activity with the rest of the world rather than any Brexit-defying boost to business with Europe, official data indicates.

Combined, the volume of exports to the EU and imports from the bloc accounted for 53.5% of all UK trade in the three months through November, according to figures from the Office for National Statistics. That matches the largest proportion since mid-2008.(...)

[Saturio]

@Cadavre, portada de la Vanguardia de hoy, porfa.

A pie de portada:

- Faltan carpinteros, carniceros y electricistas.
- Cataluña limitará los alquileres en 140 ciudades desde febrero.

En portada.

https://www.lavanguardia.com/vida/20240112/9495100/radiografia-fp-faltan-carniceros-carpinteros-e-instaladores-electricos.html

Saludos.

Sobran estilistas. Y también gente de turismo, secretariado y cosas así.
Tanto rollo con las vocaciones STEM y lo que tendrían que decirle a las chicas es que de instalador electricista se vive mucho mejor que de peluquera.

Pero todo sea por mantener los estereotipos de la Jenny y el Bryan.

[Derby]

https://www.wsj.com/economy/central-banking/fed-posts-largest-ever-annual-operating-loss-6e249a39

Fed Posts Largest-Ever Annual Operating Loss

Central bank’s deficit of $114.3 billion last year resulted from its efforts to stimulate economy and then stamp out inflation

The Federal Reserve ran an operating loss of $114.3 billion last year, its largest ever, a consequence of its campaign to aggressively support the economy in 2020 and 2021, then jacking up interest rates to combat high inflation.

The losses added to already large federal deficits that have required bigger auctions of Treasury debt. The central bank’s losses could continue for as long as short-term interest rates remain near current levels. That has the potential to fuel new political attacks on the Fed, though there have been no signs of that so far.(...)

[Derby]

https://twitter.com/carpatos/status/1745901020226506850

[Cadavre Exquis]

Esta pasada madrugada Saturio posteó esta entrada en el hilo Transición hacia una Internet censurada. Y mientras, en el cortijo... que me llamó la atención, no tanto por la noticia en sí (que, por cierto, está muy bien traída, ya que es un ejemplo más de que, con la subida de los tipos de interés, se ha cerrado el grifo del crédito y los inversores exigen rentabilidad por encima del crecimiento), sino porque, en ella, se hacía referencia por primera vez en el foro a la palabra enshittification, acuñada por el escritor Cory Doctorow en noviembre de 2022 y que ha sido elegida hace unos días como "palabra del año" por la American Dialect Society:

2023 Word of the Year Is “Enshittification”

January 5, 2024

Sheraton New York Times Square Hotel, New York, NY–Jan. 5—The American Dialect Society, in its 34th annual words-of-the-year vote, selected “enshittification” as the Word of the Year for 2023. More than three hundred attendees took part in the deliberations and voting, in an event hosted in conjunction with the Linguistic Society of America’s annual meeting.

The term enshittification became popular in 2023 after it was used in a blog post by author Cory Doctorow, who used it to describe how digital platforms can become worse and worse. “Here is how platforms die: first, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die. I call this enshittification,” Doctorow wrote on his Pluralistic blog.

Es curioso que, en este momento, en la Wikipedia haya solo dos versiones del artículo.

El original, que, evidentemente, está en la lengua de Shakespeare...

https://en.wikipedia.org/wiki/Enshittification

... y la versión en español...

https://es.wikipedia.org/wiki/Decadencia_de_plataformas

... en la que el editor ha elegido como traducción de enshittification el término mierdificación indicando como origen de la misma esta entrada escrita el 20 de junio de 2023 por Fernando Briano en su blog picando código.

Así que ya saben...

Toy Story Meme | MIERDIFICACIÓN / MIERDIFICACIÓN EVERYWHERE

Saludos.

[Saturio]

Esta pasada madrugada Saturio posteó esta entrada en el hilo Transición hacia una Internet censurada. Y mientras, en el cortijo... que me llamó la atención, no tanto por la noticia en sí (que, por cierto, está muy bien traída, ya que es un ejemplo más de que, con la subida de los tipos de interés, se ha cerrado el grifo del crédito y los inversores exigen rentabilidad por encima del crecimiento), sino porque, en ella, se hacía referencia por primera vez en el foro a la palabra enshittification, acuñada por el escritor Cory Doctorow en noviembre de 2022 y que ha sido elegida hace unos días como "palabra del año" por la American Dialect Society:

2023 Word of the Year Is “Enshittification”

January 5, 2024

Sheraton New York Times Square Hotel, New York, NY–Jan. 5—The American Dialect Society, in its 34th annual words-of-the-year vote, selected “enshittification” as the Word of the Year for 2023. More than three hundred attendees took part in the deliberations and voting, in an event hosted in conjunction with the Linguistic Society of America’s annual meeting.

The term enshittification became popular in 2023 after it was used in a blog post by author Cory Doctorow, who used it to describe how digital platforms can become worse and worse. “Here is how platforms die: first, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die. I call this enshittification,” Doctorow wrote on his Pluralistic blog.

Es curioso que, en este momento, en la Wikipedia haya solo dos versiones del artículo.

El original, que, evidentemente, está en la lengua de Shakespeare...

https://en.wikipedia.org/wiki/Enshittification

... y la versión en español...

https://es.wikipedia.org/wiki/Decadencia_de_plataformas

... en la que el editor ha elegido como traducción de enshittification el término mierdificación indicando como origen de la misma esta entrada escrita el 20 de junio de 2023 por Fernando Briano en su blog picando código.

Así que ya saben...

Toy Story Meme | MIERDIFICACIÓN / MIERDIFICACIÓN EVERYWHERE

Saludos.

La noticia la trajo Uno. Yo sólo apostillé.

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

Aquí ta tenemos claro hace tiempo el diagnóstico.

La mierdificacion de todo lleva al sistema mierdista,  es decir, el mierdismo.
El mierdismo es el único sistema que mantiene altas las valoraciones de los " hactibos "  como fin en si mismo y no como síntoma de la buena salud del sistema.
Es decir,  los indicadores se han tornado objetivos.
Es decir, el medio ha tornado en fin.
Es decir, el sistema está huero de contenido.  Es cascsra.
El sistema está vacío.  Como los uteros.  Como los pisitos.  Como los objetivos vitales.
Es decir, vamos a morir todos.

Salud.

[Cadavre Exquis]

https://www.pressreader.com/spain/expansion-nacional/20240112/page/26/textview

Cataluña impondrá topes al alquiler en 140 municipios desde febrero

https://twitter.com/sninobecerra/status/1745747589604024364

El FMI cuestiona los objetivos de déficit de España tras la prórroga de las medidas anticrisis

Saludos.

[Cadavre Exquis]

https://www.pressreader.com/spain/expansion-nacional/20240112/page/2/textview

España, destino hotelero en auge

https://www.expansion.com/empresas/transporte/2024/01/12/65a04235e5fdea14138b45f1.html

Saludos.

[Cadavre Exquis]

https://www.expansion.com/empresas/banca/2024/01/12/65a07d8be5fdeab74b8b4606.html

Saludos.

[Cadavre Exquis]

https://www.expansion.com/economia/2024/01/12/65a04896e5fdea4a178b45ee.html

Saludos.

[Cadavre Exquis]

https://www.expansion.com/economia/2024/01/12/65a03a65468aebb6308b45cf.html

Saludos.

[Cadavre Exquis]

https://twitter.com/sninobecerra/status/1745757452723748969

https://www.expansion.com/economia/2024/01/12/65a03778e5fdea1f6f8b4615.html

Saludos.