La tarcoteca

By Pablo Heraklio & cols. Tarcoteca @

viernes, 4 de mayo de 2012

Spain runs straight to the second speculative bubble crash: evictions

Spain after second crash
The first bubble in 2008 grew out of the new flats unsold. The second bubble in 2013 will be the result of eviction.
   "The new unemployed are concentrated in the age groups with greater exposure to mortgages, which further worsens the outlook. JP Morgan estimates that unemployment will reach 30% in our country.
   JP Morgan gets that mortgage delinquencies will cause a loss of 59,000 million. "At a minimum, we expect a sharp increase in defaults from current levels," they conclude.
   "Forcing banks to increase their cash provisions only for exposure problems to the brick does not offer a global solution an don’t not restored the confidence of investors in the sector."

Bubble crash 2013, evictions
   The cash provision to which the government has forced banks, made with € 50 billion of cuts this year by the Government , will serve to cover overdrafts banks expect for the next year, another 50 billion, resulting of unemployment and evictions. Moreover, the government next year will have to continue making reforms to cover losses from banks: more cuts.
   Result of unemployment due to lack of investment in productive sectors, because of the diversion of funds to parasite sectors such as banking, politicians and corruption, is seen the next outbreak of a second harsh speculative bubble in our country. Although her symptoms have been mild and masked by the problem raised in the wake of the first is expected, the New Labour Reform Act finally put it clear. evictions will multiply. Analysts expect its outbreak in 2013.
   Spanish banks are not resigned to sell housing stock at market price. Moreover, they have proposed to put up with high prices before assume losses from lower prices (under mortage value), which have a negative impact on their accounts, with all that entails: state subsidies, foreign investment ...
   While in Ireland the floors have fallen since 2008 by 50% in Spain only 20%.
   Banks cling to the brick. Prefer houses to collapse tham loss assume. If houses are not offered for sale do not appear as losses until new rating, when collapsing in 20 or 30 years!
    But this strategy is obvious to sharks investitors, more aware than ever that investing in Spain is to invest in ruin. As shown in the IBEX 35 has fallen to 2004 levels, nearly half of its price last year. Since the beginning of the storm has already started a large capital flight to Germany. As happened in Greece in 2007.

The great problem of banks, politicians
   To said Banks in Spain is to refer those hybrid entities product of fusion between standard banks and saving banks, full of politicians who ran them at will. Political = banker, needs to be addressed. The government is little more than a dauber: spokesman that informs what the banks decide. For example the Minister of Economy Luis de Guindos was the second man aboard of Rodrigo Rato, former President of Caja Madrid Saving Bank, ex president of FMI, and ex minister of economy. In Spain saving banks had special fiscal laws for due to public influence. Grew the uncontrolling and saving banks become real state companies. When speculative bubble splodes in 2007 bankarian sector and contructio was the most affected because.
   First they tried to control the losses of banks with a bank reorganization, when the problem was the home price. Now, once "rearranged", the market is trying to control the supply of bank losses, when the problem is still the high prices of homes. Along the way welfare, the only guarantor of social peace, employment and production sectors, are lost.

But why all this stupid measures if real ones are well known?
   The only capitalistic way to finish the economical blocking is constrain banks to undersell houses. But that means "bankrupt of politicians" (politicians never ruin); to ruin themselves, something to which they are unwilling. The real owners of the houses and grounds are the politicians who sold the lots, which gave credit to construction and participated in them. Banking and politics is the same.
   The next crash will be an opportunity to the rest of the estate, brick by brick.
   The Spanish economy has not recovered from the first bubble burst, will be able to recover from this second?

This is not a crisis, is a SCAM!

No hay comentarios:

Publicar un comentario

Related Posts Plugin for WordPress, Blogger...