Re:PPCC: Pisitófilos Creditófagos. Otoño 2025

[sudden and sharp]

Troleo en máximos ever...

Special announcement from Ryan Cohen
Squeezelink

 

[muyuu]

el eurofederalismo y el siempresociataísmo son felonías de alta traición a España y deberían estar penadas como antaño

[CHOSEN]

"La política es una pelea de cholitas."
No os hagáis mala sangre.
Esto ya no se puede parar.

[Rota Fortunae]

el eurofederalismo y el siempresociataísmo son felonías de alta traición a España y deberían estar penadas como antaño

Sólo 11? Al PP lo condenaron entero....

[Cadavre Exquis]

https://x.com/KobeissiLetter/status/1998845641884152094

Saludos.

[Derby]

https://www.bloomberg.com/news/articles/2025-12-11/us-jobless-claims-jump-by-most-since-2020-after-holiday-plunge

US Jobless Claims Jump by Most Since 2020 After Holiday Drop

Applications for US unemployment benefits rose last week by the most since the onset of the pandemic, underscoring the volatile nature of claims at this time of year.

Initial claims increased by 44,000 to 236,000 in the week ended Dec. 6, according to Labor Department data released Thursday. That was the biggest jump since March 2020 and followed the lowest level of applications in more than three years in the previous week, which included Thanksgiving. The figure exceeded all but one estimate in a Bloomberg survey of economists.(...)

[Derby]

https://www.msn.com/en-us/money/economy/powell-says-rate-cuts-won-t-make-much-of-a-difference-for-struggling-housing-sector/ar-AA1SdUnb

Powell says rate cuts won't make 'much of a difference' for struggling housing sector

Federal Reserve Chair Jerome Powell warned that the housing sector's struggles are likely to continue with interest rate cuts unlikely to move the needle significantly to address challenges with inventory and affordability.

Powell spoke at a press conference Wednesday after Fed policymakers moved to cut the benchmark federal funds rate by 25 basis points for the third consecutive meeting. In his opening remarks, the chairman noted that "activity in the housing sector remains weak."

During the question-and-answer portion of the press conference, Powell was asked specifically about the housing sector's weakness and whether the rate cuts could help improve affordability for homebuyers – particularly for younger people and first-time homebuyers.

"The housing market faces some really significant challenges. And I don't know that, you know, a 25-basis-point decline in the federal funds rate is going to make much of a difference for people," Powell said.

"Housing supply is low. Many people have very, very low-rate mortgages from the pandemic period, and they kept refinancing… so it's expensive for them to move, and we're a ways away from that changing," he added.

Powell also said that the main factors straining the housing market are a lack of supply, which isn't something that the Fed can directly influence through monetary policy.

"We haven't built enough housing in the country for a long time, and so a lot of estimates suggest that we just need more housing of different kinds," Powell said.

"Housing is going to be a problem and really, the tools to address it – we can raise and lower interest rates, but we don't really have the tools to address, you know, a secular housing shortage, a structural housing shortage," he added.

Though the Fed cut interest rates at its last three policy meetings of 2025, the 75 basis points of reductions haven't spurred the housing market to date – and further rate cuts heading into the new year are in doubt.

Members of the Fed's monetary policy panel released a summary of economic projections, commonly known as the "dot plot," which forecasted just one rate cut in 2026.

The housing sector has struggled amid a shortage of inventory, which has contributed to higher prices. Elevated mortgage rates, which aren't directly tied to the Fed's benchmark rate, have also contributed to the affordability challenges facing prospective buyers.

Those dynamics have led to an influx of delistings by sellers, with Realtor.com's latest monthly housing trends report finding that delistings in October were up 38% compared with the same month last year. Additionally, delistings over the course of 2025 to date are up about 45% from the same period in 2024, the report found.

Roughly 6% of listings since June have been removed from the market by their sellers each month, which has sealed 2025 as the year with the highest delisting rate since the outlet began tracking in 2022.

[Derby]

https://www.ft.com/content/0308f405-19ba-4aa8-9df1-40032e5ddc4e

Europe must be ready when the AI bubble bursts

A market correction will give the EU the chance to offer a trust-based alternative to American tech


© Ann Kiernan

One take away from the new US national security strategy is the extent to which Washington fears a strong EU, as a single market, a democratic bloc and, crucially, as a tech regulator. Meanwhile, Europeans often hear from Americans that they are losing the artificial intelligence race. The hyperscale model is presented as the sacred path, and Europe simply lacks the resources to compete.

But the resource-intensive AI platform bubble in which the US dominates cannot last. A market correction will shift attention to alternative models. This will in turn create new opportunities for Europe, which has strengths in applied AI and the chance to build the most trusted AI stack in the world. 

A German car manufacturer does not require a chatbot trained on the entire internet. It benefits from AI systems trained on high-quality engineering data to optimise manufacturing processes, predict maintenance needs or streamline safety reporting. A Dutch hospital needs diagnostic tools that meet medical standards, not general-purpose systems that may come up with medical disinformation. And a French bank needs AI that offers efficiency gains while adhering to strict financial services regulation. 

As companies increasingly rely on AI-generated code, software vulnerabilities proliferate if security standards are missing. Rob Joyce, former cyber security director at the National Security Agency, has warned of “big wildfires of cyber burndown”. Jen Easterly, former director of the US Cybersecurity and Infrastructure Security Agency, imagines a world in which “secure by design” principles and zero-trust engineering will render the cyber security industry obsolete. When deployed well, AI can boost security and resilience. Europe should focus on building safety into systems from the ground up rather than patching vulnerabilities after deployment. 

Rather than 27 member states pursuing their own goals, the EU needs specialised clusters and strategic ecosystem development that links universities, start-ups and investors. Estonia’s digital government infrastructure reminds us how small countries can carve out a position of leadership. Germany’s excellence in robotics and industrial automation is world-class. French institutions produce frontier AI research. Europe should deepen such hubs of expertise and understand the leverage its chokepoints offer.

A coalition of the willing should demonstrate what European AI leadership looks like in practice. Beyond enforcing its laws, the EU should prioritise the fast-tracking of capital markets union, an increase in research funding and streamlined visa processes for tech talent. In the face of US hostility, the EU must be willing to play power politics.

AI factories represent one approach to democratising access by unlocking shared data and computing infrastructure for research and development. Yet more sovereign compute capacity and AI infrastructure is needed. Pooled resources can support data commons for research, AI systems for education and tools for democratic participation that serve the public interest. Having its own capacity should make the EU less vulnerable to geopolitical turmoil too.

Tech must be integral to plans for decoupling Europe from over-dependence on America in trade, finance and defence. While the EU debates what to do about AI platforms, those same platforms are embedded in critical infrastructure, government services and defence. That means a further transfer of knowledge and resources, and a loss of sovereignty.  

But when the AI bubble bursts, valuations will reset. Talent will become available. Customers will question whether they need the most expensive, risky and least transparent systems. The NSS has unwittingly revealed that the Trump administration sees the EU’s strengths more clearly than Europeans do.

The US hyperscale model is not destiny. It emerged from a particular corporate culture with a high tolerance for risk, hands-off regulation, disregard for environmental harms, and a privileging of growth over other values. The EU should be confident about making different choices, in favour of trust, security, sector-specific excellence and democratic accountability. It must double down on developing an alternative before the next layer of dependencies becomes entrenched.

The question is not whether the AI bubble will burst, but if Europe will seize the moment when it does.

[Derby]

https://www.ft.com/content/8b9519df-9154-4eb5-ab3b-d3da0115b65e

US tech stocks slide as fears over AI boom flare up

Chipmaker Broadcom sells off after sales forecast disappoints Wall Street


Broadcom fell 10% after investors were disappointed with its outlook © David Paul Morris/Bloomberg

US tech stocks slumped on Friday as a sharp decline in Broadcom’s shares following the chipmaker’s earnings reignited investors’ nervousness about high valuations in companies linked to the artificial intelligence boom.

The tech-heavy Nasdaq Composite was 1.4 per cent lower in afternoon trade in New York. Broadcom tumbled 10 per cent after investors were disappointed with the group’s outlook, stripping about $200bn from its market value.

The S&P 500 had given up 0.9 per cent from Thursday’s record closing high.

Investors are concerned that a $21bn order from AI start-up Anthropic would drag down Broadcom’s margins because of higher costs in its AI chips business.

The share price fall came despite the chips group posting better than expected sales and earnings for the previous quarter and increasing its revenue guidance for the next three months on Thursday.

The Silicon Valley-based group warned investors that its gross margin for the first quarter would be lower than the previous three months because of a “higher mix of AI revenue”.

Jonathan Zauderer, head of North America specialist sales at Citi, said: “Broadcom delivered strong results but has traded off due to a weaker margin outlook and commentary that non-AI [chips] would be stable in 2026 versus some investor expectations for growth.”

Investors have become jittery in recent months around any sign that the vast spending by tech companies to compete in the AI race is not delivering meaningful returns.

Zauderer added: “One of the issues is that the stock was up 75 [per cent] in 2025 heading into results, and on the heels of disappointment at Oracle yesterday, Broadcom was vulnerable to profit-taking.”



Oracle shares suffered a steep sell-off a day ago after the database company failed to meet analysts’ estimates of revenue growth. The company dropped nearly 11 per cent on Thursday but the non-tech portion of the market helped the S&P to a closing high.

Oracle stock fell another 5 per cent on Friday after it delayed the construction of at least one of its data centres, said a person familiar with the matter. Bloomberg first reported the delay.

Oracle has in recent months become a microcosm of the market’s growing concerns about Big Tech’s vast AI spending commitments.

Larry Ellison’s company added almost $250bn to its market value in a single session in September when it announced deals with ChatGPT maker OpenAI. But the stock has dropped sharply since because its huge borrowing plans have begun to unnerve investors.

Oracle on Friday said: “There have been no delays to any sites required to meet our contractual commitments, and all milestones remain on track.”

“We remain fully aligned with OpenAI and confident in our ability to execute against both our contractual commitments and future expansion plans,” it added.

While tech and semiconductor stocks slipped on Friday, consumer cyclicals and industrials rose.

Many investors have shifted into sectors beyond tech — including homebuilders, transport groups and chemical companies — on the prospect of lower US interest rates. The Federal Reserve on Wednesday cut rates to a three-year low.

Nvidia lost 3 per cent and defence intelligence group Palantir fell 4.5 per cent on Friday as the tech sell-off weighed on some of the market’s biggest names.

US government bonds also came under pressure as investors continued to digest the language from Wednesday’s Fed meeting.

The yield on the benchmark 10-year US Treasury rose 0.04 percentage points to 4.18 per cent. Yields move inversely to prices.

[Derby]

https://www.eleconomista.es/vivienda-inmobiliario/noticias/13689149/12/25/los-tasadores-hipotecarios-convocan-un-paro-desde-el-15-de-diciembre-para-pedir-mejoras-laborales.html

Los tasadores hipotecarios convocan un paro desde el 15 de diciembre para pedir mejoras laborales

La Asociación Española de Tasadores Hipotecarios (AETH) ha convocado un paro en el sector de la tasación hipotecaria a partir del próximo lunes 15 de diciembre para denunciar las condiciones laborales de los tasadores y pedir tarifas justas, dignas y razonables, según han informado en sus redes sociales y recoge la agencia Europa Press.

Bajo el lema 'Sin tasación no hay hipoteca', la asociación ha elaborado un manifiesto del tasador autónomo con diez reivindicaciones; entre otras medidas, piden dejar de trabajar a pérdidas, ya que con las tarifas actuales se cubre solo la mitad de los costes; pactar el precio antes de la tasación; acabar con las comisiones ocultas; que el cobro se garantice al mes; que se paguen los desplazamientos o poner fin a los falsos autónomos.

"Durante más de quince años hemos visto cómo se desplomaban los honorarios mientras las entidades financieras y las sociedades de tasación incrementaban sus beneficios. Nuestro trabajo sostiene el mercado inmobiliario, pero se minusvalora, se abarata y se invisibiliza", ha criticado.

Comisiones ocultas

Asimismo, los tasadores hipotecarios han denunciado las comisiones ocultas de intermediarios, la figura del falso autónomo, donde la llamada "flexibilidad" no es otra cosa que precariedad, y la guerra de precios sistemática entre sociedades de tasación "que solo sacrifica a los profesionales". En está línea, AETH ha asegurado que más del 80% del trabajo de las sociedades de tasación depende de los tasadores hipotecarios del sector.

"Sin tasación, no hay hipoteca. Nuestra labor es imprescindible para que el sistema funcione con transparencia y seguridad, por eso pedimos un acuerdo marco del sector que ponga orden y garantice una relación justa y estable entre tasadores, sociedades y entidades", ha reivindicado la asociación. Además, del 15 al 19 de diciembre se celebrará la Primera Semana de Reflexión de los Tasadores Hipotecarios, con asambleas y encuentros donde se decidirá el alcance real del paro y su duración.