Articles by Pablo Pardo

About the Author

Pablo Pardo
Pablo Pardo is Washington DC correspondent of El Mundo. Journalist especialized in International Economics and Politics.
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GM races to placate shareholders

WASHINGTON D.C. | March 18, 2015 | By  Pablo PardoOn December 19, 2008, George W. Bush announced that the US would allocate $13.4 billion to rescue General Motors. Between April 22 and June 1, 2009, Barack Obama provided the company with $36.1. In the end, the state ended up with a 61% of the stake of what is still the second largest car manufacturer in the world.




Five Years After Start Of Financial Crisis, Wall Street Continues To Hum

Hedge funds face the scrutiny of the market

WASHINGTON | By Pablo Pardo | Steven Cohen, James Simmons, Ray Dalio, John Paulson… And, above all, of course, Julian Robertson and George Soros. Hedge fund managers have been lionized, adored, despised and hated. And for good reason: the success of those investment vehicles is unparalleled. According to the New York Times, there are currently 10,000 hedge funds in the world, and the number is growing, with assets worth $2.8 trillion (€2.2 trillion).

 


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The curse of cheap oil

WASHINGTON | By Pablo PardoWhy do they call Economics the Dismal Science? In theory, because it is about using limited resources to satisfy unlimited needs. In practice because, no matter what, everything is always bad in Economics. Case in point: cheap oil.  


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What if QE operates on the supply side and keeps prices low?

WASHINGTON | By Pablo PardoDo you want a Who’s Who of the Republican talking heads? If so, go to this list. Those are the luminaries that asked the Federal Reserve not to go ahead with the Quantitative Easing in 2010, for fear of inflation and currency debasement. Four year later, inflation is nowhere to be seen, and, according to the IMF, the US dollar has strengthened its role in the monetary system. 


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Why the Left needs to get ten points ahead of the Right to get absolute majority in Spain

WASHINGTON | By Pablo PardoLefty populism is on the rise in Spain, helped by the financial crisis, and a cascade of scandals that has so far tarnished all the traditional (i.e., pre-existing) parties from the Left and the Right. Podemos, the leftie, Hugo Chávez-inspired party that advocates defaulting on the Spanish debt (to the delight of The Financial Times) could win the elections, according to some polls.


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US companies: When having too much money is a bad sign (II)

WASHINGTON | By Pablo Pardo | Having €2.83 trillion in the bank and not knowing what to do with it is a problem that everybody would love to have. But it is actually a really serious problem for 316.1 million Americans, especially for those whose income increased by 0.43% in 2013. And, by extension, for the other 6.8 bn of human beings in the planet. Behind this problem there is a lack of investment opportunities, without which investment in the US will remain in a state of weakness and heavily dependent on an inability to increase consumption.


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US companies: When having too much money is a bad sign (I)

WASHINGTON | By Pablo Pardo | In the 1Q14, companies at Standard and Poor’s 500 spent more money to repurchase shares in comparison to the profits they had made during that period. And  third quarter data point in the same direction. Large American firms do this for several reasons, such as inflating their share price –because, the fewer number of shares, the more profits per share they’ll have, which in turn benefits  managers, who receive financial compensation in the form of company shares.


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Economic integration (particularly in Europe) provokes nationalism

WASHINGTON | By Pablo PardoSince the inception of constitutions in modern nation-states, none have undergone such turbulence as those drawn up in Europe. The raison d’être of the European Union is to avoid further turbulence in the future. It is no coincidence that the violent conflicts that have broken out in Europe since World War Two have been outside the EU, in former Yugoslavia, Ukraine, Russia, and Georgia.