Inversión forzosa: ¿hay riesgo de expropiación de los ahorros de los colombianos? (youtube.com)
‘Para reactivar la economia.’ Petro. ‘Peligro de expropriacion.' ‘Encarecer el credito para todos los colombianos.’
The proposed plan is that instead of banks using client deposits to fund loans, the government will create a government entity which will assign this credit.
There is already a bank in Colombia that does this, according to Mauricio Cardenas youtube.com and when they need to they forgive the unproductive investments ie they pay them with public money ie the money that citizens didn't put in that bank. ‘Politicization of interest rates.’
The Petro government wants to do this in order to provide credit to entitites that have a higher risk to not repay their loans. This would mean new works in the barrios, which would gain political favor for the president. Whereas currently, with the banking system as it is, there is no capacity to do politics.
Hire more beurocrats, and pay beaurocrats more? How much would Colombia's credit rating go down on the day this passed?
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Walmart is doing OK, there wasn't an increase in job seekers, and the stock market went up a bit. But there's still negativity about the consumer from some. Some say the sqeeze is being felt at the bottom end of the consumer and moving higher. The market had dropped on the Japan carry trade a couple weeks ago and then there was a lot of repositioning, volatility.
Data dependence is dangerous at turning points. - Tom Lee
Conviction is not going to be as strong as things that have been working. Most poeple's playbook is probably buy QQQ, Nasdaq or AI names.
Two things are keeping inflation high on a weighted basis, shelter and auto insurance. Adquacy is there now in auto insurance so it can cool now, and in housing rent is stabilizing. Tom Lee.
Goldman bought $400m in Bitcoin products, not long after saying there wasn't much client appetite for that product. HSBC, BofA, Morgan Stanley are also seeming bullish on Bitcoin products recently. Banks that are more bearish are Morgan Stanley (again) who reduced their large position, and switched their Greyscale shares for Blackrock (a common trend). JPM also tepid on Bitcon.
Why Goldman Sachs is jumping headfirst into crypto while rivals retreat (youtube.com)
Colombia produces 90% of global cocaine, reportedly, and a lot of the marijuana. There's a question of a soldier/guerilla economy if Colombia drifts more towards segregated politically controlled regions.