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China Housing and Land Development, Inc. Message Board

hdoe1000 2 posts  |  Last Activity: Jan 31, 2014 11:39 AM Member since: Jan 2, 2008
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  • Annual Inflation in Mexico: 4.63%, short term interest rates: 3.5%, not expected to rise.

    Annual Inflation in Brazil: 5.8%, short term interest rates: 10.5%, expected to rise further.

    Real short term interest rate in Mexico: -1.13%, in Brazil : +4.7%

    Clearly, one of these two countries has the wrong interest rate policy, and I'd say it's Brazil.

    Brazil's CB chief Tombini tries to reduce inflation by killing the economy with extremely high real interest rates. That has never worked well and usually results in high economic costs. Maybe he wants to teach the government a lesson. He also tries to stabilize the currency, with little success. The resulting slowing economy increases the budget deficit and the risk of ratings downgrades with a negative impact on the exchange rate. High costs of capital also have an inflationary impact.

    What Brazil really needs is increasing productivity through more investments in public infrastructure and the private sector, to compensate for rising labor costs as a result of full employment, while controlling private consumption. Sure, you need the right government policy for that, but you also need reasonable costs of capital.

  • Reply to

    What happened to the GFA share buyback?

    by amendoza Jan 27, 2014 12:31 PM
    hdoe1000 hdoe1000 Jan 28, 2014 9:56 AM Flag

    Did the buyback take place in one action or was it accumulated over time?
    In the past the company did the buyback through Tenda. Is that still the case?

    Sentiment: Strong Sell

CHLN
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