PPCC: Pisitófilos Creditófagos. Primavera 2025

[Cadavre Exquis]

https://cincodias.elpais.com/opinion/2025-06-13/las-claves-cliente-rico-cliente-pobre.html

https://cincodias.elpais.com/companias/2025-06-12/indra-reune-a-150-empresas-para-aprovechar-el-rearme-del-continente-espana-deber-ser-la-cuarta-potencia-de-defensa-en-europa.html

https://elpais.com/economia/2025-06-13/el-gobierno-ha-autorizado-cambios-presupuestarios-para-subir-en-7000-millones-el-gasto-en-defensa-este-ano.html

https://elpais.com/economia/2025-06-12/economia-simplifica-la-concesion-de-credito-promotor-para-acelerar-la-construccion-de-vivienda.html

Saludos.

[Cadavre Exquis]

https://cincodias.elpais.com/companias/2025-06-13/las-electricas-presentan-una-propuesta-sobre-el-calendario-nuclear-que-revisara-la-tasa-enresa.html

Saludos.

[Cadavre Exquis]

https://cincodias.elpais.com/companias/2025-06-13/ing-llega-a-un-acuerdo-con-su-casero-en-espana-para-extender-la-deuda-por-la-sede-del-banco.html

https://cincodias.elpais.com/companias/2025-06-12/castellana-properties-cuadruplica-su-beneficio-neto-hasta-los-90-millones-de-euros-y-refuerza-su-apuesta-por-portugal.html

Saludos.

[Cadavre Exquis]

https://cincodias.elpais.com/companias/2025-06-13/airbnb-pasa-al-ataque-acusa-a-los-hoteles-de-generar-turismo-masivo-y-al-gobierno-de-no-hacer-vivienda.html

https://cincodias.elpais.com/mercados-financieros/2025-06-12/escriva-defiende-el-uso-de-nuevos-mecanismos-para-blindar-el-riesgo-de-credito-de-la-banca.html

Saludos.

[Cadavre Exquis]

https://cincodias.elpais.com/mercados-financieros/2025-06-12/la-bolsa-y-el-ibex-35.html

Saludos.

[Cadavre Exquis]

https://elpais.com/internacional/2025-06-13/bruselas-confia-en-lograr-un-acuerdo-arancelario-rapido-con-estados-unidos-pese-al-ultimatum-de-trump.html

Saludos.

[Cadavre Exquis]

https://cincodias.elpais.com/opinion/2025-06-13/ceban-la-burbuja-de-precios-los-portales-inmobiliarios-y-las-tasadoras.html

Saludos.

[Cadavre Exquis]

https://cincodias.elpais.com/opinion/2025-06-13/el-juego-de-acopiar-bitcoins-no-ha-hecho-mas-que-empezar.html

Saludos.

[Derby]

https://www.pymnts.com/cpi-posts/bipartisan-senators-reintroduce-bill-to-curb-use-of-non-competes/

Seattle Considers Ban on Rent-Setting Algorithms Amid Collusion Allegations



Seattle lawmakers are considering new legislation that would prohibit landlords and technology providers from using algorithm-driven software to determine rental prices — a move aimed at curbing alleged collusion that has fueled rising rents in the city.

The proposed law, Council Bill 121000, seeks to ban tech companies from offering services that use automated pricing algorithms and would bar landlords from utilizing such tools. Violators could face civil penalties under the measure, according to GeekWire.

This legislative push follows a lawsuit filed in April by Washington Attorney General Nick Brown against RealPage, a Texas-based real estate technology company, and nine landlords operating in the Seattle area. The complaint accuses the defendants of coordinating rent increases through RealPage’s software platform, which aggregates market data to recommend pricing.

Per GeekWire, the software allegedly allows landlords to set rents with knowledge of what their competitors are charging, resulting in less competition and higher costs for tenants. The suit claims this practice violates antitrust laws and harms renters in already expensive markets.

A 2022 investigation by ProPublica found that in Seattle’s Belltown neighborhood, 70% of apartments were managed by just 10 property managers — all of whom reportedly used RealPage’s technology. This level of market concentration, combined with algorithmic pricing tools, has sparked concerns about fairness and manipulation in the rental market.

An earlier attempt to enact similar restrictions at the state level failed during the most recent legislative session. During those debates, RealPage executive Mike Semko testified in defense of the company’s platform, stating the technology “is simply market research and analysis with a suggested price,” as reported by GeekWire.

The Seattle City Council is expected to continue deliberations on the bill in the coming weeks. Supporters say the measure is necessary to restore transparency and competitive fairness to the housing market, while critics warn it could limit useful tools for landlords without addressing the root causes of rising rents.

[Currobena]

El feminismo mueve el tablero político de Corea del Sur y desata una reacción conservadora masculina
https://www.france24.com/es/programas/ellas-hoy/20250612-el-feminismo-mueve-el-tablero-pol%C3%ADtico-de-corea-del-sur-y-desata-una-reacci%C3%B3n-conservadora-masculina

En esta emisión vamos a Corea del Sur, donde los movimientos feministas fueron cruciales para la destitución del expresidente Yoon Suk-yeol y para la posterior elección del candidato liberal Lee Jae-myung. Este panorama político evidencia una transformación en las inclinaciones ideológicas de los votantes más jóvenes: las mujeres se inclinan por líderes progresistas, mientras que los hombres por conservadores. ¿Cómo se explica este viraje?

[...] "Hay una brecha salarial y violencia de género en espacios laborales que es bastante alta. Corea tiene un desempeño bastante negativo de los peores de la OCDE, que es de los países más desarrollados del mundo respecto a esto junto con Japón", asegura la doctora Constanza Jorquera Mery, feminista, analista política y de asuntos internacionales, para France 24.

Luego nos preguntaremos por qué suben (tan escandalosamente) los pisos en Europa.



¿Donde quieren ir (todas, toditas) a Chicago-Illinois o a Madriz-CAM?   

Estás insinuando que los pisos suben por el feminismo? 

[Mistermaguf]

[Artículo maravilloso, de lectura obligatoria...

https://www.transicionestructural.net/index.php?topic=2625.msg244216#msg244216

https://www.eldiario.es/opinion/zona-critica/alquiler-nuevo-diesel_129_12375491.html

https://archive.is/T7EYp#selection-1687.69-2219.276

El alquiler es el nuevo diésel

María Álvarez, 11/06/2025

El alquiler, que en su día pareció una actividad inocua y compatible con una sociedad justa y de oportunidades, ha resultado ser un veneno social. Como ocurrió con el diésel, estamos empezando a darnos cuenta de que emite otros compuestos tóxicos]

Me quedo con la frase que cierra el artículo:

El momento de desactivar este modelo es ahora.

Como cierre de una publicación en un medio generalista hubiera sido impensable hace muy poco: ¡hay que deshacerse de este modelo ahora mismo!

Parece que la cosa se está poniendo muy malita. Hay miedo en el ambiente.

[sudden and sharp]

El feminismo mueve el tablero político de Corea del Sur y desata una reacción conservadora masculina
https://www.france24.com/es/programas/ellas-hoy/20250612-el-feminismo-mueve-el-tablero-pol%C3%ADtico-de-corea-del-sur-y-desata-una-reacci%C3%B3n-conservadora-masculina

En esta emisión vamos a Corea del Sur, donde los movimientos feministas fueron cruciales para la destitución del expresidente Yoon Suk-yeol y para la posterior elección del candidato liberal Lee Jae-myung. Este panorama político evidencia una transformación en las inclinaciones ideológicas de los votantes más jóvenes: las mujeres se inclinan por líderes progresistas, mientras que los hombres por conservadores. ¿Cómo se explica este viraje?

[...] "Hay una brecha salarial y violencia de género en espacios laborales que es bastante alta. Corea tiene un desempeño bastante negativo de los peores de la OCDE, que es de los países más desarrollados del mundo respecto a esto junto con Japón", asegura la doctora Constanza Jorquera Mery, feminista, analista política y de asuntos internacionales, para France 24.

Luego nos preguntaremos por qué suben (tan escandalosamente) los pisos en Europa.



¿Donde quieren ir (todas, toditas) a Chicago-Illinois o a Madriz-CAM?   

Estás insinuando que los pisos suben por el feminismo? 

No. Estoy insinuando que tan abismal diferencia de precios algo sí denota. (Lo que quieren las mujeres no es sólo feminismo... sino seguridad personal, políticas sociales, estabilidad institucional, democracia, seguridad jurídica... etc.)



Europa, es lo que más se ajusta al modelo femenino, que no (necesariamente) feminista. Y la diferencia de precio parece decir algo.

[Derby]

https://www.ft.com/content/4ae6fb0c-c4dd-4827-b85c-946fe615b43b

Central banks are beginning to fret about dollar swap lines

Officials outside the US worry about what will happen when Jay Powell leaves the Fed


© Efi Chalikopoulou

Back in 1857, the Bank of Austria loaded 10mn ounces of silver on to a train and dispatched it to Hamburg. The reason? The city’s banks were about to collapse, having run out of reserves.

So Austria sent that “silver train” to provide liquidity. And 30 years later the French central bank did the same with a boat of gold, during Britain’s Barings crisis.

Might such aid be needed again, in a 21st-century dollar form? It is a question now being quietly mulled among European and Asian central bankers, in relation to the once-arcane issue of central bank dollar swap lines. Investors should pay close attention.

The reason is that these swap lines have been considered a core pillar of the global financial system in recent decades, since they have enabled major Asian and European central banks to get dollars from the US Federal Reserve in a crisis. This is crucially important because in times of market stress there is usually a “dash for cash” — that is, a scramble for dollars, given the greenback’s role as a reserve currency.

However, non-US entities cannot print those dollars, and so may not be able to meet demand. Thus during the 2008 financial crisis, the Fed activated some $583bn in swap lines for non-US central banks, to enable dollars to flow to commercial banks.

It did the same during the Eurozone crisis and then provided $450bn during the Covid pandemic in 2020 — a move that quelled financial contagion, according to the Richmond Fed.

But doubts are now creeping in about the reliability of that safety net. After all, the administration of US President Donald Trump seems determined to reset the global financial and economic order and to put American interests first. JD Vance, the vice-president, has observed that he “just hate bailing Europe out”.

Deals with allies, in other words, no longer seem sacred. Just look at this week’s revelation that the Pentagon is reviewing its submarine pact with the UK and Australia.

Fed officials, for their part, vehemently deny that the dollar swaps system could echo this submarine tale. Indeed Jay Powell, Fed chair, stressed its merits during a speech in Chicago in April.

But what worries some outside the US is what might happen when Powell leaves in 2026. The Fed currently has permanent dollar swap facilities with five central banks (in the Eurozone, Switzerland, Japan, Britain and Canada) and it previously created temporary facilities for nine others, including Australia, Brazil and Denmark, that have expired.

It is unclear whether those latter facilities would be restored in a crunch — and, if so, at what “price”. If the Fed offered swaps to the Danish central bank, say, would Trump demand concessions on Greenland? It is also unclear whether Washington might attach conditions to the permanent swap lines. After all, Scott Bessent, Treasury secretary, views finance, military, trade and tech issues as being deeply entwined.

Then there is Congress, which has ultimate authority over the Fed. After the 2008 crisis, there was some bipartisan congressional criticism of the swaps line, which Fed officials mostly quelled by noting that a global financial panic would have hurt America. But this criticism could easily return, particularly given Trump’s protectionist and populist instincts.

Hence the need for Europe to ponder that 1857 “silver train”. Last month Luis de Guindos, European Central Bank vice-president, insisted that the ECB remained confident the Fed would retain the swap lines. But it recently emerged that the ECB has asked its banks to report vulnerabilities around their dollar exposures.

And an article published by the influential CEPR think-tank has now called for non-US central banks to create a mutual pact to prepare for a worst-case scenario. The idea would be for 14 central banks to use their estimated $1.9tn dollar holdings to extend liquidity to each other, if the Fed retreated, in co-ordination with the Bank for International Settlements.

No central banker has publicly backed this idea. But some tell me that many contingency plans are being discussed. And in the meantime, they are quietly taking other defensive steps, such as raising their purchases of gold, and, in the case of smaller countries, cutting swap deals with China.

“There is debate about the Kindleberger trap,” one tells me, referring to the economist Charles Kindleberger’s warning that turbulence erupts when a dominant geopolitical power loses the ability or desire to support a reserve currency, without its ascendant rival stepping into the breach. (This is what happened in the interwar years before sterling was replaced by the dollar.)

We are emphatically not at such a Kindleberger moment now — and we must hope it never comes. But the key point is this: unless the White House clearly supports Powell’s comments about the need to preserve dollar swap lines, unease will grow. So let us all trust that Bessent, as a financial history buff, recognises this, and acts. If not the price of gold will keep on rising.

[Derby]

https://www.bloomberg.com/news/newsletters/2025-06-12/private-equity-is-looking-for-a-little-help-evening-briefing-americas

Private Equity Is Looking for a Little Help

Get caught up.


Photographer: Bloomberg

Things aren’t going all that great for private equity firms. They’re struggling to sell the companies they own and return cash to investors. But it turns out their counterparts in the world of private credit are offering special loans to tide them over. Direct lending arms at shops from Ares Management to Neuberger Berman Group and even private equity titan KKR have all launched what some are calling “dequity” funds—to convey the presence of both debt and equity—to the tune of $30 billion industry-wide since 2023.

Demand for this type of stopgap financing has soared lately as cash-strapped PE firms face a prolonged deal drought. Higher borrowing costs as well as erratic US trade policies have made it harder for corporate buyers to appraise the value of potential targets or for sponsors to figure out how public stock offerings will go. That’s left PE firms saddled with their portfolio companies longer than they’d planned, creating a situation where they don’t have enough money to distribute to their limited partners.

“We are quite busy,” said JT Munch, managing director at Neuberger who works on this type of financing. “In today’s market, private equity firms aren’t always able to sell a controlling stake in a business at a valuation they like. As a result, they’re willing to get creative.”

[asustadísimos]

[Hay eventos increíbles que se nos acumulan y se nos quedan muchos temas temporalmente aparcados (p. ej., que Blackstone cojea o la ingeniería financiera de Apollo con seguros o la mentira del 'private equity' —en realidad es 'private liability'— o la pinza falsaria —portales y tasadoras—). Hoy toca la respuesta iraní al gravísimo ataque israelí.]