I am the first one to say that we need to change the level of importance that tourism has in our economy, but the proportionate importance. Not get rid of the industry all together.
Articles by Miguel Navascués
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Global growth is speeding with a forecast of 3.6% by 2018, basically due to 4.8% expansion of emerging markets, since developed countries continue languishing with a rise of 1.9% inadequate to solve their social and economic problems.
Not everything is clear through a crystal ball. The Fed is in the process of “normalising” interest rates, but one has to ask whether anyone really believes this…In other words, it appears the market is not convinced that the economy is getting stronger, nor that the inflation rate is hugely threatening.
The PSOE, which governed during two terms of office with an atypical leader, Zapatero, is now so disorientated that it’s suffocating and looking to leftism for some air without any basis. It’s on the point of taking Pablo Iglesias’ bait, that a Grand Coalition against Rajoy is possible.
There no asset which is safe, liquid and provides a good return all at the same time, since these variables usually go in the opposite direction; gold has an extremely high VIX or volatility index and it sometimes exceeds the Standard & Poor 500 index.
Perhaps one of the most important virtues France has is the real cause of its malaise: the public services work very well, but they are tremendously expensive and financing them is eating into the rest of the country. Taxes represent 56% of GDP, even higher than in Sweden.
Of its total exports, Spain only sells 5% of high-technology products overseas, or 1.65% of GDP. The country needs to boost investment in high-tech goods and services.
Various world-renowned experts are increasingly doubtful that the stock markets’ level is sustainable. But there is still huge euphoria. While money remains cheap, in relation to the expectation of gains, speculation will continue.
New French president Emmanuel Macron wants to solve the problem of the stability of the euro and its finances once and for all, by implementing some kind of European Fiscal Union.
World stock markets are at record highs, particularly in the US, boosted by the promises of a heavy investment drive made by President Trump. But the fundamentals don’t support the markets’s strong performance, which is causing some concern.