| Date: June 25, 2009 | Source: Sources |
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Loading ... The U.S. investor Warren Buffet , second richest man in the world, according to Forbes Magazine, and known popularly as the "Oracle of Omaha ', claims to be unable to appreciate the moment 'green shoots 'in the economy, although convinced that they "will occur."
"I have searched and have not seen any. I had surgery for cataract in the left eye a month ago and I think now I will be able to see these 'green shoots' but we are not seeing either in manufacturing, retail (...) therefore has not occurred, will occur, but has not yet happened, "says the chairman of Berkshire Hathaway in an interview with U.S. broadcaster CNBC.
Also, Buffett said that in terms of an economic recovery, this "will still take time," since there was "a lot of excesses" that must be corrected and the process is still ongoing and will still for a period of time .
"In the annual report (Berkshire Hathaway) commented that the economy is in chaos this year and probably longer. I'm afraid to be right," he adds.
On the other hand, the 'oracle' warns that unemployment remains the key problem for the Government and aims to continue to grow, which "will delay the recovery."
SUPPORT AND FEARS BERNANKE STRONG RISE IN INFLATION
Moreover, Buffet has no hesitation in praising the president's response to the Federal Reserve (Fed), Ben S. Bernanke , the crisis and believes that "you could have done better."
"He took decisive action in a time when I really needed this type of measure, extraordinary actions, things we had not done before. They did everything perfectly, but is that nobody does," says the investor.
Regarding the evolution of inflation, Buffett acknowledges that it is "not concerned" about the risk of deflation, but rather the opposite, since it admits that some of the measures taken in the current "economic war" could allow a sharp rise inflation in the future.
"We have taken steps to fight this economic war certainly sow the seeds of a significant inflation later. Not in six months or a year, but we've done things that increase the likelihood of high inflation at some point" predicts.
| Date: March 22, 2009 | Source: Economic @ 21 |
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EURIBOR
On 5 March, the ECB announced further rate cuts in the eurozone to 1.5%, though it seems that in the short term there will be further cuts as his last words suggests, this makes the descents of the Euribor increasingly less deep, meeting ground close to it.
In the week we correspondel Euribor hits new record low, closing the week at 1.87%, down slightly from 1.92% last week in reference to a year. In all likelihood, March is the first history month Euribor to close below 2% and close to 1.90% ..
The citizen review mortgaged means that its economy will soon get a break after noting strong sales in your mortgage that can be achieved and in many cases exceed 300 euros on the revision of a year ago.
INFLATION
The Index of Consumer Prices (HICP) or Harmonized Inflation (measured in the same way in all countries of the Euro zone), in Spain fell in February tenth , to put the annual rate of 0.7% since marked 0.8% in January, thus continuing the path of moderation in prices that began in July 2008 as the leading indicator developed by the National Statistics Institute (INE).
It will be a new low since June 1969 confirmed the definitive national data of inflation to be published on 12 March.
BRENT AND TEXAS
Week of strong rises in oil prices on both sides of the Atlantic.
Meanwhile, a barrel of Brent for delivery in April goes up to $ 51.40 per barrel, representing an appreciation of 15% from the $ 44.71 weekly for the previous week.
Its counterpart, the barrel of West Texas Intermediate for April delivery also makes a similar behavior after closing at $ 52.02 weekly per barrel, when just last week at $ 45.73.
For details of the listing click here .
EURO / DOLLAR
Last week we attended and recovery of the Euro against the Dollar, but this week seems to take hold this upward trend, after trading $ 1.35 per euro, a rise in the euro / dollar 4.6%, mainly due to the less aversion to risky assets in the U.S. to stock up, as well as positive statements by the Fed to encourage exchanges.
Other changes of exchange here .
BAG
Stock markets around the world continue with the recovery trend that began last week, following the improvement of health of the banking sector.
The IBEX 35 recovered positions and closed the week at 7,710 points, up to 4% next week. Dow Jones also manages to maintain a positive balance the week closing at 7278.38 points the, albeit with a differential of less than 1% due primarily to return to the red of the last day of the week, probably on profit-taking day.
However, do not let your guard down because many experts believe that, although it seems that the worst of the banking sector is already happening, the second wave of the crisis is yet to come, and it is caused by the fall in production industry and the sharp increase in unemployment generated in the first phase.
Optimists believe that in late 2009 and early 2010 we will begin to feel symptoms of global improvement, although the pessimists believe that the crisis will not begin to subside until at least 2012.
| Date: March 14, 2009 | Source: Economic @ 21 |
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EURIBOR
On 5 March, the ECB announced further rate cuts in the eurozone to 1.5%, leaving the door open to further cuts in the future ..
For its part, the Euribor reached lows that marked the ground breaking in March 2004, closing the week at 1.923% in reference to a year. In all likelihood, March is the first history month Euribor to close below 2% and probably checking monthly lows.
The citizen review mortgaged means that its economy will soon get a breather after rebate on your mortgage note you can reach and exceed in many cases compared to 300 euros a year earlier review.
INFLATION
The Index of Consumer Prices (HICP) or Harmonized Inflation (measured in the same way in all countries of the Euro zone), in Spain fell in February tenth , to put the annual rate of 0.7% since marked 0.8% in January, thus continuing the path of moderation in prices that began in July 2008 as the leading indicator developed by the National Statistics Institute (INE).
It will be a new low since June 1969 confirmed the definitive national data of inflation to be published on 12 March.
BRENT AND TEXAS
A barrel of Brent for April delivery remains with weekly closing levels similar to the previous trading day at $ 44.71 a barrel compared to $ 44.80 per barrel which closed the previous week.
Its counterpart, the barrel of West Texas Intermediate for April delivery also maintains similar levels to last week, although over a week has come to touch the $ 48, finally closing at $ 45.73.
For details of the listing click here .
EURO / DOLLAR
It seems that the Euro regains strength and evaluated against the dollar, reaching a change of $ 1.29 per euro traded, probably due to a lower aversion to risky assets in the U.S. before a rising share price and the publication of financial figures better than expected.
Other changes of exchange here .
BAG
European and American markets have seen this, a week of hope and return of money from investors, who seem to wonder if you have already touched ground. The better economic figures than expected especially in the financial sector have enabled the major indices make a recovery week on falls in the preceding weeks.
In turn, the IBEX 35 (main benchmark of the Spanish market) back 7.07%, the biggest gain of the year (increase not seen since 4 months), recapturing the 7427.8 points after hitting a ground in the same week on 6,800 points.
The highest increases of the week the head of the banking sector by improving economic news which predict that the worst for this sector has already been passed. In any case, investors remain cautious until we see how the sector begins to consolidate gains.
The Dow Jones also does a weekly gain of 9% rise in most years, reaching 7223.98 points.
| Date: March 7, 2009 | Source: Economic @ 21 |
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REFERENCES
EURIBOR
On 5 March, the ECB announced further rate cuts in the eurozone to 1.5%, leaving the door open to further cuts in the future ..
For its part, the Euribor reached lows that marked the ground breaking in March 2004, closing the week at 1.957% in reference to a year. In all likelihood, March is the first history month Euribor to close below 2%.
The Spanish means check mortgaged its economy will soon get a breather after rebate on your mortgage note you can reach and exceed in many cases compared to 300 euros a year earlier review.
INFLATION
The Index of Consumer Prices (HICP) or Harmonized Inflation (measured in the same way in all countries of the Euro zone), in Spain fell in February tenth , to put the annual rate of 0.7% since marked 0.8% in January, thus continuing the path of moderation in prices that began in July 2008 as the leading indicator developed by the National Statistics Institute (INE).
It will be a new low since June 1969 confirmed the definitive national data of inflation to be published on 12 March.
BRENT AND TEXAS
A barrel of Brent for April delivery remains with weekly closing levels similar to the previous closing at $ 44.80 a barrel compared to $ 45.88 per barrel which closed the previous week.
Its counterpart, the barrel of West Texas Intermediate for April delivery also maintains similar levels to last week, but picking on the Brent, buying at the end of the week at $ 45.60, after the ECB announced new rate cuts announcing an increase in the weakness of the European economy compared to other world economies.
For details of the listing click here .
EURO / DOLLAR
The ratio Euro / Dollar is exchanged at the end of week at $ 1.266 per euro traded, continuing its gradual devaluation against the dollar, mainly due to increased weakness in the European economy and the falling price of money in the eurozone countries .
Other changes of exchange here .
BAG
The bad news and falling stock macro give no respite to investors who try to salvage their investments and savings of everything that smacks of risk ..
The IBEX 35, the main reference market in Spain, returned to 2003 levels, closing at 6936.90 points, representing a fall of almost 60% from May highs last year.
In summary, an unprecedented situation where everything is at minimum interest rates, stock market, inflation, employment, trust, economic forecasts and business ...
In any case, it sounds all wrong, because if we observe, is the first time we have interest rates at current levels in the eurozone, as well as low inflation, which can spur consumption in the medium term, employment and a return to growth. If we analyze from a technical standpoint, the stock has cut positions to levels 60%, which means it could be in near minimum nivleles rebound because history has shown that after prolonged growth falls are often succeed to levels between 50% -65%, after which rebounds occur at least partial, recovering half of the fall. Consolidation of positions will depend on how the economy evolves, so we could see a rebound soon to boost the IBEX to 9,000 points soon (technical rebound).
But for that we should receive some respite in the short term, such as unemployment levels that appear to be stabilizing, or indices of industrial production recovered positions, in addition to inflation must be contained at current levels, ie, not achieving deflation, or at least not for an extended period, as this would create a downward spiral of consumption, employment, spending that could lead the European economy (extrapolated to the world) to a deep chasm and exit difficult.
| Date: February 27, 2009 | Source: Economic @ 21 |
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EURIBOR
While we are waiting for the ECB's decision on the further declines in interbank lending rate, the Euribor continues to fall until softened close at 2.033% in intraday trading, appearing to be landing on the support of the 2% official rate rate established by the entity that presides Trichet ..
However, experts predict that the Euribor continue its downward path next discounting rates to drop up to 50 basis points, which could place them at 1.5% in an attempt to revive the ailing economy.
Meanwhile, in February closed with a monthly average of close to 2.135% , setting minimum summer of 2005.
INFLATION
The Index of Consumer Prices (HICP) or Harmonized Inflation (measured in the same way in all countries of the Euro zone), in Spain fell in February tenth , to put the annual rate of 0.7% since marked 0.8% in January, thus continuing the path of moderation in prices that began in July 2008 as the leading indicator developed by the National Statistics Institute (INE).
It will be a new low since June 1969 confirmed the definitive national data of inflation to be published on 12 March.
BRENT AND TEXAS
At the time of publication, a barrel of Brent crude for April delivery suffers with a sharp rise from 12% to reach 45 weekly, $ 88 per barrel reaching out to OPEC estimates that the fair price deck should be placed around $ 50.
His counterpart West Texas Intermediate oil for April delivery rebounded even stronger and more aligned with President Brent up to $ 44.28 in New York, assuming a recovery of 17% per week in anticipation of the approval of the economic recovery plan, to stimulate demand for oil in the country.
For details of the listing click here .
EURO / DOLLAR
The ratio Euro / Dollar is exchanged at $ 1.2718 today the euro, remaining virtually unchanged compared to last week's change, forming a support near $ 1.26 per euro.
Other changes of exchange here .
BAG
New shocks in stock markets around the world after various publications of bad macroeconomic performance and business, as well as the third U.S. aid to rescue Citigroup again ..
The IBEX 35, the main reference market in Spain, lost 9.8% monthly, making it one of the worst months in history.
Rife in the markets panic after returning the markets to a minimum of 2004 for the Ibex 35 , touching touching 7,603.60 points (-7.5% weekly), or until 2002 for the Dow Jones stood at the 7365.67 points (-6% weekly). The bad economic data and market crashes hasty press world leaders to meet on Sunday in Berlin before the G20 summit .
HIGHLIGHTS OF THE WEEK
INTERNATIONAL:
The U.S. GDP shrank 6.2% in the last quarter of 2008
U.S. will increase its stake to 36% stake in Citigroup and the stock market collapses.
Publications of U.S. home sales data yields below expectations, being 4,490,000 for owned homes (-6.3% on the expected data) and of 309,000 for new homes (-6.5 % of the expected data).
NATIONAL:
The government of Spain reduced by 42.7% public offer of employment for 2009 to 20,561 seats available . Only be restored to 30% of the places that are free.
The harmonized inflation rate dropped Spanish to 0.7% in February according to the National Statistics Institute (INE). The final data will be published on March 13.
| Date: February 21, 2009 | Source: Economic @ 21 |
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EURIBOR
This week Euribor has made a feint intraday rebound that was finally overcome by the downward trend that has also been affected in recent months. While we are waiting for the ECB's decision on the further declines in interbank lending rate, the Euribor softens lowering to close at 2.074% appearing to be landing on the support of 2%, official exchange rate set by the Trichet presides entity ..
However, experts predict that the Euribor continue its downward path next discounting rates to drop up to 50 basis points, which could place them at 1.5% in an attempt to revive the ailing economy.
INFLATION AND CPI
The inflation rate in the Spanish economy fell 0.8% in January, six tenths less than in December and the lowest scoring in the last forty years, since 1969.
For the first time since inflation began to subside in August, the correction in the price index is based more on economic recession and the slowdown in consumption in the lower oil prices. Moreover, as unusually low level of inflation facing employers and unions for higher wages.
According to data released by the National Statistics Institute (INE), the Consumer Price Index (CPI) fell by 1.2% from December.
BRENT AND TEXAS
A barrel of Brent crude for April delivery to back down this week to close at 40, $ 88 per barrel despite the insistence by OPEC the fair price should be around $ 50, so warns of further cuts in production if prices are too low.
Corrected OPEC last week lowered its forecast of changes in demand for crude this year and predicted that this year the world consumed 85.1 million barrels per day (mbd), 600,000 bpd less than in 2008 due to the global economic crisis.
Its counterpart, the West Texas Intermediate for March delivery closed this week lowered to the $ 37.80 in New York, representing a rise of over 10% in a week in anticipation of the approval of the economic recovery plan , which would stimulate demand for oil in the country.
EURO / DOLLAR
The ratio Euro / Dollar exchange today $ 1.284 per euro, remaining virtually unchanged compared to the change last week.
Other changes of exchange here .
BAG
Rife in the markets panic after returning the markets to a minimum of 2004 for the Ibex 35 , touching touching 7,603.60 points (-7.5% weekly), or until 2002 for the Dow Jones stood at the 7365.67 points (-6% weekly). The bad economic data and market crashes hasty press world leaders to meet on Sunday in Berlin before the G20 summit .
| Date: February 14, 2009 | Source: Economic @ 21 |
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EURIBOR
Although the rates remain unchanged from last week's meeting at 2%, Euribor continues to fall, albeit at a less marked, closing the week at an altitude of 2.133%, about 7 basis points less than the previous weeks. Therefore, it is likely that the Euribor February with an average closing below 2.2%.
However, experts predict that the Euribor reaches to around 2% by the end of the first quarter of 2009, estimates in line with our view and shown months ago.
INFLATION AND CPI
The inflation rate in the Spanish economy fell 0.8% in January, six tenths less than in December and the lowest scoring in the last forty years, since 1969.
For the first time since inflation began to subside in August, the correction in the price index is based more on economic recession and the slowdown in consumption in the lower oil prices. Moreover, as unusually low level of inflation facing employers and unions for higher wages.
According to data released by the National Statistics Institute (INE), the Consumer Price Index (CPI) fell by 1.2% from December.
BRENT AND TEXAS
A barrel of Brent crude back down this week compared to last week, cutting the price of euro 1.23 per barrel to close this last week at $ 43.40 a barrel despite the insistence by OPEC that the price right should be around $ 50, so that warns of further cuts in production if prices remain too low.
Today corrected OPEC lowered its forecast of changes in demand for crude this year and predicted that this year the world consumed 85.1 million barrels per day (mbd), 600,000 bpd less than in 2008 due to economic crisis world. More details of the story here .
To view the history of Brent prices click here .
Its counterpart, the West Texas Intermediate closed this week with an expected rise to $ 44.81 in New York, representing a rise of over 10% in a week in anticipation of the approval of the economic recovery plan, which would stimulate oil demand in the country.
EURO / DOLLAR
The ratio Euro / dollar was exchanged at the close on Friday at $ 1.289 per euro, remaining virtually unchanged compared to the change last week.
Other changes of exchange here .
BAG
The Ibex 35 breaks his streak of recovery this week, retreating by 3.2% per week, although on Friday rallied 0.79%, thanks to expectations that Congress passed the Obama stimulus plan. Turnover remains low.
Among the biggest weekly gains and Cintra Bankinter highlighted with recoveries of 9.17% and 5.18% respectively. The justification for Bankinter could come from the revived interest by Credit Suisse to the bank. In the case of Cintra, could be justified as a correction to sobrecastigo received weeks ago, and by the confirmation of new contracts and benefit increases on highways of Canada.
On the other side of the Atlantic, New York also succumbs to the uncertainties of the economy and the Dow Jones lost more than 5% in the week, it seems that expectations about the Obama stimulus plan not have penetrated as expected among U.S. investors, at least in the short term.
HIGHLIGHTS OF THE WEEK
INTERNATIONAL:
Approved by Congress and the Senate economic stimulus plan Obama valued at 787,000 million dollars.
Europe falls into recession GDP falling 1.5% in the last quarter of 2008.
NATIONAL:
The Spanish economy contracted by 1% in the fourth quarter of 2008 and enters first recession in 15 years .
