I am pleased to inform you that as of this week, we are publishing articles periodically in the prestigious GurusBlog. There we will be able to reach an audience that until now did not know us, and therefore our work of disseminating our way of seeing wealth management will have a wider reach. We will not always publish all the articles there and here in duplicate, but some posts will be published only in one of the sites. However, we will always try to publish short notes referring to our articles published in GurusBlog. I hope you enjoy it and here is the first one: «Who moved my Value? The compass of the New Normal«
The ECB has denied that it opposed the Spanish Government’s plan to recapitalise Bankia using Spanish government debt. It has simply issued a brief official statement to the media, explaining that the ECB has not been consulted on the Spanish (bank) recapitalisation plans. But what happened a few hours earlier is more than a little curious.
Hay algo peor que ser pobre e insolvente, y es que además se deba esconder la misera y simular opulencia y grandeza. ¡Ay de quien deba disfrazarse de rico, sin serlo, para poder subsistir en su negocio! Porque la insolvencia y la pobreza, con sinceridad y honradez se tornan más dignas, más esperanzadas y menos miserables. Y es que dedicarse a un negocio, como el bancario, que necesariamente obliga a quien lo ejerce a simular riqueza y solidez para ganarse la confianza de sus clientes, es algo con lo que se puede convivir cuando realmente la entidad bancaria es rica y solvente. Pero cuando el negocio se tuerce y el apalancamiento intrínseco a la propia actividad bancaria se come con patatas la solvencia y la solidez de las entidades, esa fachada de opulencia se convierte en una macabra mentira, que acaba con la pérdida esquizofrénica de todo contacto con la realidad (como dijimos en
John Mauldin nos deleita esta semana com otro análisis realista
There are many fears that France will not follow the path of austerity and budgetary rigour, should the socialist Hollande win the elections. But the harsh reality is that the colour of the elected president and his electoral programme are not so relevant. Nor does it seem likely that in the second round Sarkozy will win the support of Le Pen's extreme right-wing voters, but even if Hollande were to win the Elysée, his capacity for manoeuvre would be very, very limited.
We are in the eye of the storm. But not because of injustice or envy of our northern neighbours—no—but because of our own foolishness. That foolishness which has led us in the past to vote for governments of both political stripes, yet with one thing in common: an inability to manage the Spanish economy. We have missed a golden opportunity, given that economic growth and the surge in job creation in the Eurozone allowed us to boast of macroeconomic figures that made even those of France itself pale in comparison. And so Zapatero proclaimed on occasion, although today it is the Mercozy duo who must stifle their feelings in the face of the grotesque and surreal tragicomedy of the current periphery. «Spain is doing well,» we proclaimed to the four winds just a decade ago. Those were years when illusions of grandeur led the presidents of Spain and Portugal to meet in the Azores with the very presidents of the United Kingdom and the United States of America. Aznar, Barroso, Blair and Bush together shaping the plans that were to govern the New World Order. That was only nine years ago, but it seems so long ago…
In many talk shows and in the press, we are hearing voices proclaiming the irrationality and delusion of the markets regarding the state of the Spanish economy. It is argued that the fact that Mr Market penalised Spanish bonds before the most austere budget in Spanish democratic history was made public, and continues to do so after the cuts, is irrefutable proof of the markets« madness. They say this is proof that this country’s economic policies must be set regardless of what the markets might think. That »the dictatorship of the markets’ is something we must ignore and fight against… But no. Let’s look at some of the reasons why we must not, and cannot, ignore Mr Market:
Ya es un
That exceptional measures should be taken in exceptional situations is pure common sense. And the
A continuación os traemos un artículo de una colaboradora que nos ha solicitado publicar algunos de sus artículos en este blog. Sofía Sánchez es una escritora, graduada de Florida International University, con especialización en escrituras sobre la política, economía y tendencias laborales. Os dejamos con su artículo sobre dichas tendencias en el mundo laboral: