That's see where he score his first goal, in 2005. I would say this might be the favorite way for him to score, lift the ball elegantly over the goalkeeper. (and seeing Ronaldinho lifted Messi on his back...so touching)
Goal.com wrote a report here, I do not think I can write a better one than theirs. Yet, I would like to share this video on youtube, the annual Estrella Damm
The success of Messi is not a coincidence. If you have seen him playing for Argentina you might see a quite different players. I am not saying he is not a great player, of course he is! Yet, without the full support of the team, it is not quite possible to achieve things of this height today. He is a lucky boy, with Pere Gratacos(his B-team period coach), Frank Rijkaard and Pep Guardiola, with Ronaldinho and with Xavi and Iniesta. With so many great teammates he grows along and the 30-year tradition of La Masia.
This is "US", this is Barcelona, and as a fan of such team, I deeply understand the quotation "Som UN"
p.s. the first part of the video shows how the lover of a Barcelona fan is struggling. We always can make up some stories linked back to the team and make a whole lecture of it. (:P) I think the final part is what we Barcelona fan should do, and left the lecture part to our team and Estrella Damn (:PPP)
As I wrote in the article regarding to Brazil, I mentioned that BRIC countries have quite different economic base in nature. The news today reflects quite well on the difference for BRIC on this economic growth crossroad.
1. Inflation is the major concerns for China and India: US stocks fall as commodity decline on China concern
The reporter points out the slowdown in China, particularly in the housing markets, drives the commodity price lower today. This is not a fresh story that China wants to curb their real estate markets and control some more on inflation. However, such attempts may hurts their economic growth further, yet we did not see the immediate consumption growth comes along yet. Since both expected inflation and policy uncertainty are high, (when I talks of uncertainty, I mean the uncertainty on the results.), I do not see why Chinese citizens may let loose their purse. Plus, a sizable proportion of their income might already pledge into the housing market, which won't be available for the following years to come.
Shanghai Index lost 1.36% yesterday, a stronger retreat may be seen before April.
India Holds rate, as inflation accelerates
India also has similar problems. Their central banker just decided to keep the rate high to curb inflation. Unlike Brazil, which cut their interest rate to boost growth, India and China remain very cautious on the domestic inflation since they mostly has to import the commodities that are needed for manufacturing and exporting sectors.
2. Manufacturing, Consumption and Infrastructure:
As for now, Brazil tends to focus more on manufacturing, while China are trying to create more domestic demands. Brazil has the opportunity from two big games, so I would think it is a brighter future for them, as long as they take the chance well. As for China, the key is still on housing market. If they can free some more capital from housing projects, such capital could do much more in other sectors.
India is still a terra incognita for me, yet my best guess is from what a friend,who frequently travel there, advises me, focus is on infrastructure. He mentioned to me that India is still quite in lack of some modern infrastructure as we take for granted. Traffic, power supply, water supply, etc. The only problem is government deficit, now runs some 5% of their GDP. Could government play a major roles to push further public investment? Their capacity is in doubts.
Would BRIC icon fade its charms for the following 3 years? I would say a no, yet it won't shine as bright as what we have expected before.
The performance of Placido Domingo, Jose Carreras and Luciano Pavarotti, "Brazil , Brazil" in 1994, in Roma.
As for this blog, I am not going to talk about opera or classic music(although that is a field that I enjoy a lot) Yet, some recent updates about Brazil really worth some attentions.
To start with, I would like separate BRIC into two groups of countries: I personally really do not like BRIC, or BRICS (with South Africa) as a combined concept. They are actually two types of very different economies: Brazil and Russia have a great share of GDP based on natural resources; while China and India has a strong focus on manufacturing and service industries. They are by no means alike.
Now, let's focus on Brazil:
1.) Brazil, the rise of natural resource super-power
This is the basic ideas of Brazil. Lots of people views it as a natural resource super power. Iron Ore, Oil reserves, corn (turns into ethanol), and soybeans. Overall, it exports everything that matters in our daily life. This week there is a news, regarding to recent GSCI commodity Index rise on Bloomberg.
It is quite fair to say, "When Brazil sneezes, the whole commodity world catches cold."
2.) Capital control and interest rate:
What's the major concerns for a export-oriented economy? Exchange rate!
As Brazil’s President Dilma Rousseff once mentioned as "monetary tsunami" as all countries, the developing or the developed alike, are competing to depreciate their currency.
So, they try to prevent capital inflows that could appreciate their currency. How?
2-1): Tax Measurements:
Impose capital tax on borrowing on foreign currency(6%), yet allow their exporter to hedge on such risk. This is pretty much what every countries are doing now.
2-2): Interest Rate:
Reduce the core interest rate(Selic rate), the key purpose of doing so is to reduce the speculative inflows that prepare to pocket the profit from the interest rate difference.
2-3): Open Market Operation: Brazilian central bank simply purchase U.S. dollar from the market.
3.) Latin America international organization:
IDB, Inter-American Development Bank, warns that now there is building up a crisis environment in Latin America. and they prepare to raise a contingency funds that might help the region to shelter some key sectors from possible crisis hits. These sectors are social development, public infrastructure, and SME enterprises.
From all of these, several things come to my notice:
1.) Inflation and Interest Rate:
As for Brazil now runs an inflation rate of 5.8%(12 months from Feb, 2011 to Feb, 2012), given their 2011 GDP growth of 2.7%, Brazilian economy now really in a shaky status. To run a interest rate cut and a pro-export exchange rate is quite danagerous.
I still recall, in later 2009, I had this discussion with my professor back then, talking of the possible effect of appreciation to curb on the inflation rate. How it was reported by Bloomberg regarding to India's choice to appreciate their currency. However, such measure might not be suitable for Brazil since they are actually the exporter of natural resource rather than the importer.
My guts feeling tells me that, Brazil might fall to the similiar case as other natural resource exporters. They has the resources, yet they only export such ingredients. The fortune they sit on prevent them from build up the capacity to transform these resources into more valuable products. Take oil for exapmle, they pump oil from the sea, however, they lack the capacity to refine oil locally. Therefore, the major profit of owning such resources would still be pocketed by other international companies. (that happens in Mexico) They end up buying more expensive, refined oil product abroad.
To shake off such reliance, they might need to swift their economy focus. Such things are yet seen to be initiate.
2.) Domestic consumptions and big games:
Brazil is going to host 2014 world cup and 2016 summer Olympic. What does it mean? It means there is a great number of construction will be needed along the way. Actually, it is a prefect timing for Brazil to foster their local capacity on industrial goods. In that sense, they could build up their own sustainable domestic economic force rather than relying on export.
3.) Investment decisions?
I actually just urge my family and friends to clear up their Latin America holdings. The exit decision merely reflects the increase of uncertainty and a good timing to take profits. yet I am still optimistic about the development of the region. Brazil is certainly a place shall deserve a great attention of world capital.
Disclaimer: The article, and related links, are only express the views of the news agnecy and the blogger. People who read this article has to reach their own investment decision.
I was a bit surprised when I browsed through Bloomberg news. I was expecting to see more report on "ratios." However, I see more dollar amount of loss for the banks under different stress. Such presentation of stress test recalls my memories of the other article I read few days ago. Then it is clear for me how and why they express the stress test in this way.
There are two things to look at here.
1.) Capital ratio:
There are two ways you might book up the capital ratio, you raise more fresh capital or just reduced the exposure of risk of your assets. For the later approach, the demand to improve "adequate" ratio might eventaully hurt the industries and companies, which would lose their credits from banks.
Europe and United States have quite different ideas on such ratio thing. As quoted from the article, William C. Dudley, the president of FED of NY, mentioned that they not only look at the ratio and also look at the absolute amounts. In other words, the supervisory body wants banks to raise capital, and they cannot deliberately reduce their risk exposure.
Therefore, United States has another focus here. If these banks cannot make a cut on their risky exposure, how muchloss they might have to face during the most adversary times?
2.) Possible loss under the worse scenario:
The stress test results are out from United States. The worse scenario is, the unemployment rate at 13%, 50% stock price drop and 21% of housing price drop. Then they assess the possible loss for each bank, and measure their possible capital ratio under such scenario.
Surprisingly, Citi is among those who failed the test. 15 out of 19 banks under the same test pass it.
Eventually, Banks should be the institutions which can absorb risks, especially during hte bad times. As I see, the various American legislation movement now are moving toward that direction. Banks cannot take too many risks, and they should have enough reserve to go through the bad times, for themselves and for the public. I personally like the ideas behind this logic. Just do not know how exactly it would turn out to be alike for banking industries.
For the Netherlands, the future is NOW!! The other day in the behavioral economics class, I discussed such ideas with my fellow classmates , concerning whether the verb tense might influence some economic behaviors in different cultures. It seems some scholars indeed try to use quantitative models to explore such effect. The working paper in January done by Yale Economics Professor Keith Chen indicated that, for people using languages with weak future-time reference(FTR), they would have higher saving rates. The reason is that, they perceive the future as PRESENT! Consequently. any problems that might happen in the future would not be perceived that "remote." Therefore, people in this language group will react to problems as if it is "NOW!" The immediate comparison is between German and English. I am not familiar with German, yet, as the author suggest, in German you could say "Morgen regnet es" ,directly translated as "It rains tomorrow." Yet, in English it should be written as "It will rain tomorrow" Usage of "will" or not is a key indication of strong or weak FTR form. As noted in this case, German speakers could take a future event as present one and start taking precautionary measures to deal with such event. The second interesting results is, after adjusted to such effect, people in southern Europe actually save MORE than their Northern counterparts. In other words, if southern Europeans were speaking in the same language structure as the Northern Europeans, then they would have saved more than these Northern parts! Language is playing a role in our economic decisions!
Yesterday I just had such discussion with my neighbor on the opposite side of hall. It is quite interesting for some of our discussion point.
1.) Could that be a better rescue package if EU would have been a federal states?
His answer is YES. The coordination of EU member states are quite weak now and he considers such weakness is the major reason why it takes so long for EU to reach a deal for the crisis. It is never be easy to reach an agreement that please all.
2.) How commom European might think of the idea of federal states?
History is a devil here. The general public might not happy with such ideas when continental Europe was torn aparted more than once. Particularly, the recent two world war was central-staged in European theater. Such trauma is not easy to mend. Economically speaking, even Greece today is still paying something they owe Germany during the war. (which was forced upon! the story is quite astonishing and I am not sure of the source of such claim) I still recall that when Austria is not happy of Liechtenstein entering into the EEA agreement due to some territorial problems that is not fully solved in the Empire days....
This question is a bit side-tracked when I talk of the Netherlands. He personally favors Republic over the Monarchy democracy. He believes that Dutch people should have more public consensus mentality if they have been given a Republic system. Actually, when Taiwan was once ruled by Dutch, the Netherlands was back then a Republic system. The continuous wars just brought down such system and other country would "install"(well, that is pretty much his perspective) a king on the Dutch people....
3.) Do EU has the capacity to become a federal states?
This is more my own question. I still recall the day when I were in Norway and had the competition law class. Professor just point out the ECJ do not really have the capacity to handle all the cases and duly ruling is extremely important for business world. If it even comes to more general issues, it could still take forever to solve if the current EU system do not have the capacity to deal with that.
He suggests that it should starts from the core body of EU, if the core can function it right, then the expansion on the power can be progressed in schedule. Just like what they have done before in economic integration.
We will see, this idea/topic is truely interesting now.
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