Wrights Business Research

Archive for 2012

Today was a black day for the Spanish economy. Markets, these unearthly beings lining the covers of all means, have sunk the Dow 2.66% in what amounts to a new low so far this year. The bond market, meanwhile, is not much better and our risk premium has come to reach the 492 basis points today, new annual high. Uncertainty about the future of Greece, more outside than inside the euro, coupled with the new financial reform (which triggers the provisions required of the bank), along with the fall of Bankia, crushed the Spanish economy. Nobody believes in Spain: Krugman, Roubini, Der Spiegel Financial Times or even opt for the rescue of our country. There are fewer questions: the Spanish economy will not hold the tug, no one in front of the boat.

The move to nationalize Bankia dark and implementation of financial reform quarter are the two variables that do more damage to the credibility of Spain and country risk. Spain is not only the resort of Europe, now ranks as one of the key points on any agenda of the Eurogroup. What will happen from now on is all a mystery. The Spanish government increasingly has less cartridge in the chamber with that confidence. Germany calls for more and more but we have little to offer if they do not want to touch the parasitic caste that benefit from the hardships of the country. And it never will, ever.

Meanwhile, the Spanish patience is exhausted, a runaway unemployment, continuous increases in prices, stagnant wages and credibility in the political class eventually overturned throwing people into bloodthirsty street. The shadow of the yard is still there and more people are prepared individually for what might happen if we intervene Brussels.

The president of the Merchants Association of Villa Consuelo (Asodeconvicon), Mario Chabebe, reported that several businesses that have commercial artery broken by the prolonged power outages that Empresa Distribuidora de Electricidad del Este (Edeeste) has been occurring in the area, for several months. By participating in the central interview Weekly Agenda program that airs every Saturday at 12 noon for Santo Domingo TTV, UHF channels 69 and 24 national cable systems, the business leader reported that the light goes all day at seven o’clock and come back at eight in the evening, when most businesses Villa Consuelo sector have closed their doors.

Chabebe Mario added that this situation has caused the closure of dozens of small to large businesses in the shopping street of Villa Consuelo and predicted to continue these long runs of blackouts many who have survived the same fate. Asodeconvicon president, said repeatedly that state and other organized groups of Villa Consuelo met with authorities in the electricity sector to find a solution to the problem have been facing as a result of poor energy service they receive and still answers were received. Read the rest of this entry »

A bankruptcy may relieve you of your legal obligation to pay all or many of your debts is what is known as the relay. The purpose is to allow a fresh start. A bankruptcy can stop foreclosure of your residence and give them a chance to pay the arrears. It does not eliminate the mortgage or other liens as such but it gives the opportunity to pay their arrears up within the next five (5) years.

A bankruptcy can prevent the repossession of your car or other property, even force the creditor to return property repossessed. A bankruptcy can stop wage garnishment, harassment and other practices of debt collectors, you can restore or prevent termination of services such as water, electricity, phone, and can afford to defend claims that you do not accept debit, you can protect your cosigners while you are in the process of bankruptcy.

Affected by the recruitment of banking products “at risk” have been concentrated in Madrid to protest against what they define as the “fraud of the preference shares” and demand the return of their savings. According to the Association of Users of Banks, and Insurance (ADICAE), convener of the event, about 500 people gathered in front of the Bank of Spain to ask to make liquid investments in what they consider “toxic” and which included along preference shares other savings complex.

As he explained to Efe ADICAE president, Manuel Pardos, are products of “great complexity and many risks” for which there were adequately informed consumers, mostly elderly, and now can not recover savings unless you accept swaps and conditions “abusive”. To Hazel, concentrations today in other cities like Barcelona and A Coruña, serve to denounce the situation of those affected and to alert other consumers. Read the rest of this entry »