Miercoles 23/11/11 Ordenes de bienes duraderos

[admin]

Eventos economicos

Miercoles

Solicitudes de hipotecas
Ordenes de bienes duraderos
Ingreso personal
Solicitudes de seguro de desempleo
Sentimiento del consumidor
Subasta de bonos
Reporte del petroleo
Reporte de gas natural

MBA Purchase Applications
7:00 AM ET


Durable Goods Orders
8:30 AM ET


Personal Income and Outlays
8:30 AM ET


Jobless Claims
8:30 AM ET


Consumer Sentiment
9:55 AM ET


EIA Natural Gas Report
10:30 AM ET


EIA Petroleum Status Report
11:00 AM ET


3-Month Bill Announcement
11:00 AM ET


6-Month Bill Announcement
11:00 AM ET


7-Yr Note Auction

[admin]

Treasurys Price Chg Yield %
2-Year Note* 0/32 0.266
10-Year Note* 1/32 1.920
* at close

7:37 p.m. EST 11/22/11Futures Last Change Settle
Crude Oil 97.49 -0.52 98.01
Gold 1699.8 -2.6 1702.4
E-mini Dow 11438 -9 11447
E-mini S&P 500 1182.00 -0.75 1182.75

7:47 p.m. EST 11/22/11Currencies Last (mid) Prior Day †
Japanese Yen (USD/JPY) 76.95 76.97
Euro (EUR/USD) 1.3525 1.3505
† Late Tuesday in New York.

[admin]

AAPL extendera suscripciones a blacklisted_site (juegos) asi como lo hace con los newspapers y magazines.

La compania es Big Fish blacklisted_site, costara $6.99 al mes.

Apple Expands Subscription Service to blacklisted_site
By Adam Satariano - Nov 22, 2011 5:25 PM ET .

Apple Expands Subscription Service to blacklisted_site With Big Fish David Paul Morris/Bloomberg
Attendees test out the new Apple Inc. iPad 2 at an event in San Francisco.

Attendees test out the new Apple Inc. iPad 2 at an event in San Francisco. Photographer: David Paul Morris/Bloomberg
.Apple Inc. (AAPL) is letting a video-game company offer its titles by subscription on the iPad, expanding the role of a feature typically used by magazine and newspaper publishers.

Big Fish blacklisted_site, a Seattle-based game publisher, won approval from Apple to become the first to offer users access to dozens of titles for $6.99 a month. Until now, blacklisted_site have only been available one at a time, requiring users to download individual applications.

When Apple introduced its subscription feature earlier this year, Paul Thelen, the founder of Big Fish, saw it as an opportunity to offer an “all-you-can-eat” service. That lets players jump in and out of different blacklisted_site without having to make a bunch of downloads. While game-subscription services have a mixed record of success, the popularity of the iPad, along with the easy payment method provided by Apple’s App Store, will make the offering attractive, Thelen said.

“This is the first time that the technology has matched the business model,” he said.

The setup is similar to Netflix Inc. (NFLX)’s streaming application for the iPad. Subscribers can get unlimited access to blacklisted_site such as “Mystery Case Files” and the “Mahjong Towers” series from inside the Big Fish app.

blacklisted_site played through the subscription service, which are streamed to a user’s iPad from Big Fish’s data centers, will initially require Wi-Fi access to play.

Android Next?

The company has designed the application in a way that it can easily be modified to work on smartphones or tablets running Google Inc. (GOOG)’s Android operating system, as well as Internet- connected televisions, Thelen said. An Android version should be ready by the first quarter, he said.

In addition to the subscription plan, Big Fish also will offer a free version of its game service that limits play to 30 minutes a day and includes advertising. The subscription will initially cost $4.99 and will increase early next year to $6.99 after more titles are added, Thelen said. Apple collects a 30 percent commission.

Big Fish, founded in 2002, generated $140 million in sales last year, mostly from blacklisted_site downloaded to a personal computer or mobile device. About 75 percent of its players are women over the age of 30, Thelen said.

The company is in a position to pursue an initial public offering, he said.

“We’re at scale, have great momentum and remain in a position to pursue a public offering or any number of alternatives if the markets allow,” Thelen said.

Even so, Apple wasn’t quickly convinced that a monthly fee would work for blacklisted_site, he said. Tom Neumayr, a spokesman for Apple in Cupertino, California, didn’t immediately respond to a request for comment.

“It took longer than usual to be approved,” Thelen said. “They needed to be convinced there’s a reason to charge customers every month.”

[admin]

La situacion de la economia americana es "aterrorizante" dijo El Erian de PIMCO

Ve una posibilidad de recesion del 50%

El-Erian: U.S. Economic Conditions ‘Terrifying’
By Cordell Eddings and Betty Liu - Nov 22, 2011 12:20 PM ET .
PIMCO CEO Mohamed El-Erian T.J. Kirkpatrick/Bloomberg

Pacific Investment Management Co.’s Chief Executive Officer Mohamed A. El-Erian said U.S. economic conditions are “terrifying” as the nation struggles to recover from recession.

The odds of the U.S. returning to recession are as high as 50 percent, El-Erian said during an interview on Bloomberg Television’s “In the Loop” with Betty Liu. U.S. economic growth was worse than expected and congressional policy makers are gridlocked over what to do about the economy and the deficit, which risk exacerbating an already weak recovery, he said.

“We have less economic momentum than we thought we had and we have no policy momentum,” said El-Erian, who also serves as co-chief investment officer with Pimco founder Bill Gross at the world’s largest manager of bond funds.

“What’s most terrifying,” he said, “we are having this discussion about the risk of recession at a time when unemployment is already too high, at a time when a quarter of homeowners are underwater on their mortgages, at a time then the fiscal deficit is at 9 percent and at a time when interest rates are at zero.”

The economy in the U.S. expanded less than previously estimated in the third quarter, reflecting a drop in inventories that points to a pickup in growth as 2011 comes to a close.

Structural Issues
Gross domestic product climbed at a 2 percent annual rate from July through September, less than projected and down from a 2.5 percent prior estimate, revised Commerce Department figures showed today in Washington. The median forecast of 81 economists surveyed by Bloomberg News called for no revision. Excluding stockpiles, so-called final sales climbed 3.6 percent, the most since last year’s fourth quarter.

Conditions may worsen if policy makers in Washington and in Europe do not act quickly to address structural economic issues, El Erian said.

The debt crisis that began more than two years ago in Greece and snared Ireland, Portugal, Italy and Spain is close to reaching France. U.S. lawmakers yesterday failed to agree on spending cuts to address budget deficits.

“The big concern is us being tipped over by Europe. And things in Europe are getting worse, not better,” he said. “Unlike Europe, the U.S. doesn’t have an engineering problem. It faces a political problem.”

European policy makers have to choose between a full fiscal union or a smaller euro zone, two options with heavy costs that have paralyzed policy makers, El-Erian said from Pimco’s headquarters in Newport Beach, California.

Total Return Fund (PTTRX)

“The muddled middle is no long sustainable,” El-Erian said. “Europe needs to make a choice if it wants to save the euro,” he said.

Pimco’s $244 billion Total Return Fund, the world’s largest mutual fund, has returned 2.3 percent in the past year, lagging behind 79 percent of its peers, according to data compiled by Bloomberg. Over the past five years, the bond fund has returned 7.7 percent on average, topping 97 percent of rival funds.

[admin]

Oil down 97.57

Los futures del Dwo Jones 9 puntos a la baja

Au down 1,701

[admin]

Korea -0.98%, Australia -0.49%, el Nikkei de feriado.

Yen down 76.95

Euro up 1.3528

[admin]

5:25 p.m. EST 11/22/11Treasurys
    Price Chg Yield %
2-Year Note*   0/32 0.266
10-Year Note*   1/32 1.920
* at close
8:37 p.m. EST 11/22/11Futures
  Last Change Settle
Crude Oil 97.35 -0.66 98.01
Gold 1708.8 6.4 1702.4
E-mini Dow 11373 -74 11447
E-mini S&P 500 1174.00 -8.75 1182.75
8:47 p.m. EST 11/22/11Currencies
  Last (mid) Prior Day †
Japanese Yen (USD/JPY) 76.99 76.97
Euro (EUR/USD) 1.3487 1.3505
† Late Tuesday in New York.

[admin]

El seguro de salud obligatorio es la solucion equivocada

En el caso mas importante del gobierno de Obama y de la Corte Suprema, Obama estara defendiendo una ley a la que se opuso como candidato. El plan de Hillary Clinton era obligatorio y el candidato Obama critico por principios pero ahora su seguro es obligatorio. Ahora la corte suprema debera decidir si el plan de Obama es constitucional o no.


Mandatory Insurance Is Wrong Fix for Health Care: Ramesh Ponnuru

By Ramesh Ponnuru Nov 21, 2011 7:00 PM ET

In the most important Supreme Court case of his term in office, President Barack Obama will be defending a policy that he opposed as a candidate.
During the 2008 Democratic primaries, one of the few differences he had with rival Hillary Clinton was that her health-care plan featured an individual mandate to purchase health insurance, while Obama rejected a mandate on principle. But the health-care law he eventually signed included a mandate, and the court has now agreed to rule on whether that is constitutional.
Obama’s position during the primaries accorded with the elementary principle that there should be a strong presumption against ordering people to do something. Even people who, like Obama, now believe that a mandate is necessary can agree with this principle. A presumption, even a strong one, can, of course, be overcome for good reasons. In the case of the individual mandate, those reasons don’t exist. Obama was right the first time.
While most proponents of an individual mandate are Democrats, some Republicans have also advocated it, notably former Massachusetts Governor Mitt Romney, who believes that it is the right policy for state governments to adopt although he opposes the federal mandate.
Three Arguments
The principal arguments for the mandate are three. The first is that the uninsured raise the premiums of everyone who has insurance. Obama made this point in his address on health care to a joint session of Congress in September 2009: “Those of us with health insurance are also paying a hidden and growing tax for those without it -- about $1,000 per year that pays for somebody else’s emergency room and charitable care.”
When Obama spoke, this figure had already been debunked by the Kaiser Family Foundation, which reached an estimate closer to $200 per year for a family. The Congressional Budget Office reached a similar estimate.
So the cost the mandate is meant to address is smaller than Obama assumed. It could be driven still lower by means less intrusive than a mandate. State regulations drive up the cost of insurance by requiring that it cover services that not everyone wants. If young, healthy people were allowed to purchase cheaper insurance policies to cover the costs of catastrophic health problems, many of them would surely do so, and they would then pose less risk of generating costs for others.
If a mandate forces these people to buy insurance policies they don’t want -- because the expense of the policies is out of proportion to their probable need for it -- then it isn’t a way to avoid cost-shifting. It’s a form of it.
The mandate itself carries significant costs. If the government requires everyone to purchase insurance, it has to define what form of insurance meets the requirement. Medical provider groups have an incentive to lobby the government to make sure their service is required under the mandate. To the extent that they succeed, the cost of insurance goes up. (That’s how those state regulations arose.) And, of course, people who cannot afford to comply with the mandate must receive subsidies: another cost. And then there is the cost of enforcement. So much for the cost-shifting argument.
Moral Obligations
The second justification proffered for a mandate is that people who can do so have a moral obligation to provide for their own and their families’ health care so as not to become the responsibility of others. This is true. But there are many similar moral obligations that we don’t use the law to enforce. If you impoverish yourself through heavy drinking, you may well end up on public assistance of some form or another, but we don’t use intrusive means to stop you from making these choices.
Compassion moves us to cover the emergency-care costs of those who can’t pay their own way: A federal law, which the vast majority of Americans support, forbids hospitals from turning patients away. But we aren’t morally entitled to insist that our compassion be cost-free, or that the potential objects of our compassion take action to minimize the costs that compassion might move us to bear.
The third justification for a mandate is that it is necessary to prevent the regulatory scheme of the Democrats’ health-care law from unraveling. The new law prohibits insurance companies from discriminating against people on the basis of pre-existing health conditions. They will no longer be able to charge higher prices to sick people. Under this policy, nobody would have any reason to purchase health insurance until they got ill. This would obviously be an unsustainable arrangement. Premiums would rise and rise, and fewer and fewer people would buy insurance. The point of the mandate, then, is to prevent this death spiral.
In other words: The new health-care law first makes health insurance a product no one would voluntarily buy and then makes its purchase compulsory.
Better Solutions
There are better ways to solve the problem of people who have trouble obtaining insurance because of pre- existing conditions. That problem is largely a byproduct of federal health-care policies that have encouraged reliance on employer-provided health insurance, even though few people stay with one company for their entire working lives. If we allowed a robust market in individually purchased health insurance to develop, it would be much easier for people to buy policies that could be renewed even when their health status changed.
The health-care law now under challenge in court attempts to address the problem of people with pre-existing conditions by providing them with subsidies that it hides in a maze of regulations, including the individual mandate. It would be more transparent, and less coercive, to provide on-budget subsidies to those who might need help during the transition to an individual market, or to the much smaller population who might need it after the transition.
The Supreme Court has a lot to ponder as it weighs the constitutional merits of the case before it. One thing neither the justices nor the public need worry about is that American health care needs an individual mandate to work.
(Ramesh Ponnuru is a Bloomberg View columnist and a senior editor at National Review. The opinions expressed are his own.)

[admin]

Es refrescante escuchar a candidatos a la presidencia con propuestas inteligentes y serias para el futuro de US. Es el debate de los candidatos republicanos.

[admin]

El Han Seng -1.92%, Australia -1.25%, Korea -1.59%

Euro down 1.3459

[admin]

SPANISHNOVEMBER 22, 2011, 5:38 P.M. ET
La Fed planea nuevas pruebas de resistencia para los bancos de EE.UU.
Por ALAN ZIBEL

WASHINGTON (Dow Jones)--La Reserva Federal de Estados Unidos delineó el martes planes para realizar pruebas anuales que buscan medir la solidez financiera de los mayores bancos del país y señaló que algunos resultados serán dados a conocer al público.

Los bancos deberán presentar sus planes de capital a la Fed a más tardar el 9 de enero para las pruebas de solvencia, que se aplicarán a 19 firmas que ya participaron en pruebas similares previamente este año y a 12 más que tienen al menos US$50.000 millones en activos y que no han participado antes en pruebas de esto tipo, señaló la Fed.

La Fed indicó que los bancos tendrán que poner a prueba su capacidad para soportar el escenario de una nueva recesión a partir del final de este año, con un aumento en el desempleo sobre el 13% a principios de 2013 y con una "considerable caída en la actividad económica y el empleo de Estados Unidos, acompañado de un notorio descenso en la actividad económica global".

El objetivo es "garantizar que las entidades tengan procesos de planificación de capital robustos y a largo plazo que den cuenta de sus riesgos particulares", señaló la Fed en un comunicado.

Cuando las pruebas estén completas, la Fed señaló que divulgará al público sus estimaciones de ingresos y perdidas de los bancos, así como las estimaciones de los coeficientes de capital de las 19 firmas más grandes.

[admin]

SPANISHNOVEMBER 22, 2011, 1:39 P.M. ET
Merkel pide un rápido cambio del tratado de la UE en lugar de eurobonos

Por BERND RADOWITZ

BERLÍN (EFE Dow Jones)--La canciller alemana, Angela Merkel, pidió el martes una acción rápida para resolver la crisis de deuda de la eurozona, pero calificó la introducción de bonos comunes de la eurozona de medida que sólo debería considerarse tras completarse las amplias reformas que harán a Europa más competitiva.

Merkel hizo estos comentarios después de que la Comisión Europea dijera que anunciará el miércoles propuestas de amplio alcance para el aumento de la gobernanza económica común en Europa, entre las que se incluirá la introducción de distintos tipos de bonos comunes de la eurozona.

"Los eurobonos se han vuelto a poner de moda", dijo Merkel en una conferencia de la patronal alemana, y añadió que el comisario europeo de Asuntos Económicos y Monetarios, Olli Rehn, había defendido un poco antes la introducción de los mismos ante la misma audiencia.

No obstante, Merkel advirtió de que crear la unión de pasivos que representarían los eurobonos sólo podría debatirse cuando la competitividad en la eurozona sea menos divergente.

Los países de la eurozona deben estar dispuestos a cambiar el actual Tratado de la Unión Europea para tener modos más eficaces de atajar la crisis de deuda, dijo Merkel, que añadió que un cambio así del Tratado no tiene por qué tardar 10 años en ser una realidad.

"En situaciones excepcionales tienes que estar dispuesto a dar pasos excepcionales", dijo Merkel.

[admin]

SPANISHNOVEMBER 22, 2011, 8:04 P.M. ET
La zona euro se arriesga a hacer muy poco, muy tarde
Por SIMON NIXON

Después de casi dos años en el que el que el foco de atención del de la crisis de deuda de la euro zona se ha desplazado de una capital europea a otra, finalmente ha llegado al lugar que le corresponde: la sede del bloque en Bruselas.

La crisis sólo ha sido en parte sobre la sostenibilidad de las deudas soberanas de Grecia, Irlanda, Portugal, Italia y España. Más importante, es que siempre ha sido una crisis política, una crisis institucional, una crisis de gobierno. Se trata de un fracaso para desarrollar mecanismos para establecer una disciplina fiscal entre los miembros de la euro zona y salir a la ayuda de países en problemas financieros. No podrá existir una solución a la crisis si primero no se resuelve esta crisis de gobierno.

Dos mitos han mantenido las esperanzas. Primero, que los crecientes rendimientos de los bonos soberanos reflejaban una pérdida de credibilidad de algunos gobiernos, para lo cual la solución era un mayor compromiso con la austeridad y la reforma estructural. El segundo indicaba que si la supervivencia de la euro zona llegaba a estar en entredicho, el Banco central Europeo haría uso de su poderosa "bazuca" para comprar bonos y prevenir un colapso y el caos.

El primer mito ha sido demolido. Pese a la elección incuestionable de un reformador fiscal en España, los rendimientos de los bonos a 10 años terminaron el martes al alza a 6,6%. Pese al nombramiento de un gobierno tecnócrata en Italia, liderado por Mario Monti, los bonos italianos se ubican en 6,75%. Mientras tanto, el BCE continúa haciendo todo lo que puede para desmentir el segundo mito, asegurando que no puede y no actuará como prestamista de último recurso para los gobiernos.

En respuesta a las pobres decisiones, los inversionistas, bancos y corporaciones están reduciendo su exposición a los bonos soberanos de la euro zona, excepto los de Alemania, en medio de temores de que ahora contengan riesgos de liquidez, de crédito y cada vez más riesgos de divisas.

Incluso si el BCE cambia de parecer sobre la legalidad de un compromiso para servir de prestamista, no se sabe si eso resolvería el problema. El BCE puede comprar bonos sólo en los mercados secundarios. Eso no garantizaría a España e Italia el acceso primario a los mercados de bonos. No se tiene claro por qué la intervención del BCE alentaría el retorno de los compradores del sector privado, ya que esto no marcaría una gran diferencia a las cargas totales de deuda y las dudas sobre la sostenibilidad de la deuda persistirían. Además, los bonos adquiridos por el BCE serían de mayor nivel que los propios, lo que generaría mayores reducciones a lo que recibirían los acreedores en caso que la deuda llegue a convertirse en algo insostenible.

Además, la corrida en los mercados de deuda soberana es apenas el aspecto más visible de la crisis de la euro zona. La corrida al sistema bancario es igual de dañina. Los mercados de financiación en dólares a corto plazo y los mercados de deuda no asegurada han estado cerrados desde mediados del año y el mercado interbancario también está sufriendo. Los bancos se han visto forzados a elevar el costo y reducir la disponibilidad de crédito, socavando aún más el crecimiento y la competitividad.

En el mejor de los casos, el BCE puede ganar tiempo, pero ¿para qué? Cualquier solución verdadera debe comenzar con reparar el quebrado mercado de bonos soberanos, algo que ahora requiere la creación de bonos de la euro zona, pero un acuerdo al respecto podría tomar meses y los cambios al tratado, años. Mientras tanto, la pregunta es, y siempre lo ha sido, ¿qué precio político exigirá Alemania para poner su balance en juego?

El mayor temor de Alemania es el riesgo moral, ¿Cómo puede saberse que los países seguirán con las reformas después que se relaje la presión del mercado? Reemplazar a políticos electos con tecnócratas no elegidos puede ser un remedio de corto plazo . Tanto el presidente de la Comisión Europea José Manuel Barroso y el presidente del Consejo Europeo Herman van Rompuy preparan propuestas para mejorar el gobierno económico. Pero la mayoría de las que están siendo discutidas representan apenas ajustes al escrutinio de los presupuestos nacionales, no a la completa unión política y fiscal que se necesita para apuntalar con credibilidad a los euro bonos.

Quizás la intensidad de la crisis obligará a un cambio político radical en Bruselas, como lo ha hecho en los estados miembro. Quizás los gobiernos adoptarán transferencias radicales de soberanía para evitar el cataclismo de un colapso del euro. Pero el riesgo es que, como sucede a menudo en las crisis, cuando los políticos finalmente se decidan a actuar, ya sea muy poco y muy tarde.

[admin]

SPANISHNOVEMBER 22, 2011, 10:34 A.M. ET
La producción de gas natural en Bolivia se quintuplicaría para 2014, según YPF
Por SHANE ROMIG

BUENOS AIRES (Dow Jones)--La española Repsol YPF SA espera que su producción de los campos de gas natural Margarita en Bolivia alcance los 14 millones de metros cúbicos diarios en 2014, un incremento frente a los niveles de 2011 de 3 millones de metros cúbicos y los 9 millones de metros cúbicos que se esperan para abril de 2012, informó la empresa en un comunicado.

La compañía planea invertir US$1.200 millones en dos fases para expandir las operaciones Caipipendi en alianza con la argentina Pan American Energy y BG Group PLC, de acuerdo a YPF.

[admin]

5:25 p.m. EST 11/22/11Treasurys
    Price Chg Yield %
2-Year Note*   0/32 0.266
10-Year Note*   1/32 1.920
* at close
9:49 p.m. EST 11/22/11Futures
  Last Change Settle
Crude Oil 96.77 -1.24 98.01
Gold 1707.2 4.8 1702.4
E-mini Dow 11315 -132 11447
E-mini S&P 500 1167.50 -15.25 1182.75
9:59 p.m. EST 11/22/11Currencies
  Last (mid) Prior Day †
Japanese Yen (USD/JPY) 77.01 76.97
Euro (EUR/USD) 1.3464 1.3505
† Late Tuesday in New York.