Is There a New Dotcom Bubble?

#903
Juan said:
If they were tax domiciled in Spain, then they would know what hell on earth is... haha.

Binance slams US crypto crackdown and makes bid for UK oversight

World's largest cryptocurrency exchange says it is 'very difficult' to do business in US after moves by Washington regulators.
Click to expand...
The US has done themselves no favours. There has been no regulation, or guidance, even though the industry has begged for clarity. Innovation is being stifled, and you have to wonder why?

The way their regulators have behaved is utterly baffling to those who have been following what's been happening over there. It's not exactly rocket science. You can blame Gary Gensler and co for allowing the FTX calamity to happen. To say they are incompetent doesn't do justice to the word.
 
#907
UKBloke said:
Is it true, @Juan? Does freedom work?

Tax-cutting Madrid proves that freedom works
Click to expand...
Freedom does work. That's why I am planning to moving back to Madrid. Taxes are way better, it's easier to do business and everything in general works better than in other regions in Spain.

The rest of Spain, as far as taxes are concerned, is pure hell, specially Catalonia (worst tax hell on earth), the Balearic Islands (go there only if you are NOT tax domiciled) and Comunidad Valenciana (Valencia, Alicante, under the current government from the extreme left).

On Sunday 28th May there's regional election (NOT in Catalonia, unfortunately) and I hope the current government in Valencia is kicked out.
 
#908
Juan said:
Freedom does work. That's why I am planning to moving back to Madrid. Taxes are way better, it's easier to do business and everything in general works better than in other regions in Spain.

The rest of Spain, as far as taxes are concerned, is pure hell, specially Catalonia (worst tax hell on earth), the Balearic Islands (go there only if you are NOT tax domiciled) and Comunidad Valenciana (Valencia, Alicante, under the current government from the extreme left).

On Sunday 28th May there's regional election (NOT in Catalonia, unfortunately) and I hope the current government in Valencia is kicked out.
Click to expand...
Really, Juan?

Diaz Ayuso, as you know very well, has several open cases on suspicion of corruption.

The following sentences are a sample of what she has in her brain. Read and laugh everyone:
  • "That's why it's called Covid-19, because it's 'coronavirus, December 19.'"
  • "It has shown us that in hospitals with high ceilings, patients heal very well."
  • "Madrid is Spain. Madrid is Spain within Spain. What is Madrid, if not Spain? It belongs to no one because it belongs to everyone".
  • "When they talk about garbage employment, it seems to me that it is offensive to the person who is perhaps looking for a garbage job."
  • "We are not all equal before the law. King Juan Carlos is not like you."
  • "That the unborn conceived be considered as one more member of the family."
  • "I am in favor of breaking with the dictatorship of radical feminists. Almost all the pollution in Madrid comes from burning bras. All that smoke is terrible for your health and is much worse than natural smoke from cars."
  • "I am addicted to car smoke. The smell of gasoline, asphalt… I love all of that, I love it".
  • "I'm looking forward to being asked about blacks to see what I say."
And you want to go live in Madrid, boy?

Either you are not Spanish or you have no idea what is going on in Spain. Look, calling the Valencian government extreme left is stupid, the same as calling Pedro Sánchez a communist, at best they are social democrats... and they are not even this.

You do very well when you criticize political and economic corruption, for the lack of intelligence of some politicians and bankers, for the exemption of paying taxes of large corporations.

Why this change now with that idiot?
 
#909
Anima said:
Really, Juan?

Diaz Ayuso, as you know very well, has several open cases on suspicion of corruption.

The following sentences are a sample of what she has in her brain. Read and laugh everyone:
  • "That's why it's called Covid-19, because it's 'coronavirus, December 19.'"
  • "It has shown us that in hospitals with high ceilings, patients heal very well."
  • "Madrid is Spain. Madrid is Spain within Spain. What is Madrid, if not Spain? It belongs to no one because it belongs to everyone".
  • "When they talk about garbage employment, it seems to me that it is offensive to the person who is perhaps looking for a garbage job."
  • "We are not all equal before the law. King Juan Carlos is not like you."
  • "That the unborn conceived be considered as one more member of the family."
  • "I am in favor of breaking with the dictatorship of radical feminists. Almost all the pollution in Madrid comes from burning bras. All that smoke is terrible for your health and is much worse than natural smoke from cars."
  • "I am addicted to car smoke. The smell of gasoline, asphalt… I love all of that, I love it".
  • "I'm looking forward to being asked about blacks to see what I say."
And you want to go live in Madrid, boy?

Either you are not Spanish or you have no idea what is going on in Spain. Look, calling the Valencian government extreme left is stupid, the same as calling Pedro Sánchez a communist, at best they are social democrats... and they are not even this.

You do very well when you criticize political and economic corruption, for the lack of intelligence of some politicians and bankers, for the exemption of paying taxes of large corporations.

Why this change now with that idiot?
Click to expand...
Díaz Ayuso has the best economic program: she is going to lower taxes, income tax for starters. There is no wealth tax in Madrid, and income tax is already the lowest in Spain. That's why Madrid receives the largest amount of FDI in Spain, the job market is dynamic and it's easy to do business there.

The complete opposite is Catalonia and Valencia, places where there are only hurdles to live and do business, and where taxes are through the roof.
 
#910
#913
Juan said:
A bit off topic, but just to give you an idea of who is governing in Spain right now.

This is happening in Spain, especially in Catalonia, where the government openly supports squatters. Pedro Sánchez, the President of Spain also supports squatters:

Squatters took over our Spanish villas (thetimes.co.uk)
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Yea, unfortunately those that like to divide and rule often exploit this kind of behaviour. They know there'll be people out there who say anyone wealthy enough to own a Spanish villa deserves all they get. And so it goes.
 
#914
Juan said:
Díaz Ayuso has the best economic program: she is going to lower taxes, income tax for starters. There is no wealth tax in Madrid, and income tax is already the lowest in Spain. That's why Madrid receives the largest amount of FDI in Spain, the job market is dynamic and it's easy to do business there.

The complete opposite is Catalonia and Valencia, places where there are only hurdles to live and do business, and where taxes are through the roof.
Click to expand...
@Juan, you just don't tell the truth. Do not trivialize the problem of the squatters. Things are much more complex than you put them. The laws in Spain do not protect the squatters, please, do not say nonsense. The problem lies in a vacuum in the legal system and also in the slowness of the courts. The politicians do not seem to want to reach an agreement to legislate and provide the necessary financing so that this problem ends. It must also be said that rampant poverty has to do with the illegal occupation of homes. It is not true that it only happens in tourist villages and second homes, it also happens in cities, you should know if you live in Spain. Our political system works poorly, it is weighed down by Francoism, which, unfortunately for the country, is still active. Corruption and carelessness are the culprits, no party is blameless here. It should be a priority to put an end to a problem that is not difficult to overcome with clear and precise laws, as well as urgent social measures to provide cheap housing for those most in need. Thanks to taxes, Catalonia and Valencia have by far better public services than Madrid, don't bias things.

About Ayuso and her government, I am not going to say anything else, only that social services, public transport, affordable accommodation, residences for the elderly, etc. are very poor. What can you expect from a politician who claims that "Climate change could be solved if we all had a pot of flowers on our balcony"? Paradoxically her government is cutting down trees all over the community. I wish you enjoy the freedom of Madrid, if you can bear its very high pollution and Ayuso. Good luck!
 
#915
Anima said:
@Juan, you just don't tell the truth. Do not trivialize the problem of the squatters. Things are much more complex than you put them. The laws in Spain do not protect the squatters, please, do not say nonsense. The problem lies in a vacuum in the legal system and also in the slowness of the courts. The politicians do not seem to want to reach an agreement to legislate and provide the necessary financing so that this problem ends. It must also be said that rampant poverty has to do with the illegal occupation of homes. It is not true that it only happens in tourist villages and second homes, it also happens in cities, you should know if you live in Spain. Our political system works poorly, it is weighed down by Francoism, which, unfortunately for the country, is still active. Corruption and carelessness are the culprits, no party is blameless here. It should be a priority to put an end to a problem that is not difficult to overcome with clear and precise laws, as well as urgent social measures to provide cheap housing for those most in need. Thanks to taxes, Catalonia and Valencia have by far better public services than Madrid, don't bias things.

About Ayuso and her government, I am not going to say anything else, only that social services, public transport, affordable accommodation, residences for the elderly, etc. are very poor. What can you expect from a politician who claims that "Climate change could be solved if we all had a pot of flowers on our balcony"? Paradoxically her government is cutting down trees all over the community. I wish you enjoy the freedom of Madrid, if you can bear its very high pollution and Ayuso. Good luck!
Click to expand...
That's a bunch of nonsense. In Catalonia there are squatters everywhere because the legal system is flawed and protects them. On top of that, as you should know, the courts and tribunals in Spain have been in practice closed for over 7 months, as there is a strike by civil servants who work for the Ministry of "Justice". First it was the "Letrados de la Administración de Justicia" who went on strike, and the rest of the personnel were also not working, but without declaring a strike.

I know because I filed a lawsuit last October and this lawsuit has not been processed yet. And next week we are IN JUNE! This is the responsibility of Pedro Sánchez government, his communist government supported by terrorists (Bildu), separatists like ERC who want "independence" but cannot pay for it (Catalonia alone would not get financing to get going) and a bunch of corrupt communist parties like Podemos.

Try to evict a squatter in Spain now, haha... the police won't move a finger. They will protect the squatters. A court demand for eviction will not be processed due to the strike and when it is processed, it will take at least another 2 years of judicial bullshit to evict them (and that's being... OPTIMISTIC!).

So right now it takes at least 3 years to have THE CHANCE (and not the absolute certainty) that you can evict someone in Spain. Now tell me to buy property in Spain "to rent" or "to spend the holidays", haha... what a joke!

Ayuso at least offers a better taxation (less taxes) so I will vote for her. The rest are just a bunch of crooks and the Catalonians are the worst; those politicians from Catalonia are worse than the Russian mafia. The taxes in Catalonia are pure extortion to the citizens, it's pure robbery.

Actually there was a funny article on one of the Spanish newspapers a long time ago (maybe 2-3 years ago) where a Russian mafia boss who dealt regularly with politicians to get deals done (licences for his "businesses" to launder money, town hall contracts etc etc) was surprised of the level of political corruption in Catalonia... the guy was suffering from political extortion himself! :ROFL:
 
#916
The communists will be gone soon:

'All or nothing': Spain's Pedro Sánchez gambles on snap election

Freedom works: yesterday Isabel Díaz Ayuso won the election in Madrid with absolute majority. She will govern by herself, without needing the support of any other political party.

In July we will get rid of Pedro Sánchez and the communists. Our pockets will be grateful for it. The communists have turned Spain into the worst tax hell ever...
 
#919
The regulation and the market take on bad loans it's a joke:
As banks prepare to close the second quarter "they are super focused on keeping a clean loan book", said David Aviram, a principal at Maverick Real Estate Partners, a private fund that specialises in commercial real estate loans. "The banks don't want to raise the concerns of regulators or investors.
Click to expand...
US banks are holding hundreds of billions in bad commercial property loans, same as in 2008, and they just want their books to look better than they are, transferring and selling these loans at a discount to other entities who do not have to comply with regulatory requirements. Does this solve the problem? Does it alter the situation of the commercial property sector? NO.

Wells Fargo being more open and frank about the "issue":
Wells Fargo chief executive Charlie Scharf this week told analysts and investors that the bank, which has $142bn in commercial real estate loans outstanding, is managing its exposure to the area. "We will see losses, no question about it," said Scharf.

[...]

Other banks are changing the way they account for loans by switching their designation to "available for sale" from "hold to maturity", a move that makes it easier to offload the debt down the line.
Click to expand...
US banks prepare for losses in rush for commercial property exit | Financial Times (ft.com)
 
#922
Juan said:
Money withdrawals from Binance exceed USD 730 million in the last 24 hours.
Click to expand...
You're referring to the inexplicable overreach by Gary Gensler and the SEC. The saga continues, and what I've witnessed is the complete erosion of people's sovereignty in the US. The SEC is dictating what people can and cannot do with their money and has behaved in an extremely bizarre manner for many years now.

To those who aren't aware of what's been happening the last few days in the US, well, here's a synopsis:

For many years now, the blue-chip players in the crypto community have been crying out for better guidance and regulation from the SEC, but instead of providing clarity, the SEC has made it impossible to innovate in the US in this space. They are a complete disaster of an organisation that allowed investors to get wrecked with the FTX fiasco, and things like Luna, (where were they then?) and now all of a sudden they decide to sue all of the big players who have integrity in the industry. The whole situation is incredibly damaging to democracy and freedom of thought and expression.

This has nothing to do with saving people from their own stupidity and everything to do with the powerful banking system that is struggling to retain its grip on a power it has held for generations.

Many high-profile people in business have spoken out against this insanity raising a lot of good points along the way. I wholeheartedly agree with both of these statements:

10CB10AF-BCAC-4AD4-A90E-9B8CD1E995F8.jpeg


66C88801-1908-4834-AB82-8D976B8CDFA6.jpeg


5E951260-BB7B-4B0C-9451-B092F26EC4DB.jpeg


FF56AC9E-D16B-4583-A76A-6DEA8E745D94.jpeg


Congress needs to bring clarification, and urgently. You cannot regulate an entirely new industry based on laws that were created in the 1930s as they are not fit for purpose.
 
#923
@Juan, watch out! It seems Tesla may be coming to Spain in a big way...

Tesla is rumored to be planning a 'more than $4.5 billion factory' in Spain

Local newspaper CincoDias reports about Tesla (translated from Spanish):

"Everything indicates that Tesla will manufacture electric vehicles in Spain. The US company is negotiating with the Generalitat Valenciana to build a car assembly plant in the metropolitan area of Valencia, sources familiar with the operation confirm to CincoDías. The Generalitat, which has signed a confidentiality agreement with the company run by Elon Musk, has refused to comment on it."
 
#924
lymebite said:
@Juan, watch out! It seems Tesla may be coming to Spain in a big way...

Tesla is rumored to be planning a 'more than $4.5 billion factory' in Spain

Local newspaper CincoDias reports about Tesla (translated from Spanish):

"Everything indicates that Tesla will manufacture electric vehicles in Spain. The US company is negotiating with the Generalitat Valenciana to build a car assembly plant in the metropolitan area of Valencia, sources familiar with the operation confirm to CincoDías. The Generalitat, which has signed a confidentiality agreement with the company run by Elon Musk, has refused to comment on it."
Click to expand...
There are a few car makers in Spain that will lay off workers. Car makers have been paying almost the full salary for 4 years even though workers did not even have to go to work. They've been sitting at home getting their salaries.

Now companies are tired of this and will lay off.

Tesla has seized this "opportunity". We still have limited information on the plans for that Tesla factory but my guess is Elon Musk just wants a big subsidy, public money, and is capitalizing on the upcoming general election (July).

The communist Spanish government is doing so bad that they had to anticipate the general election. They chose 23rd July because it's blazing hot here and they hope people will not go to vote to kick them out. The reality will be that, very likely, they are going to get kicked out. Most people will vote, and the people who have to suffer 23rd July at the polling stations, under the blazing sun, at places that may or may not have air conditioning... I mean, those people are going to be so pissed off with the government... for having ruined their vacation.
Ed209 said:
You're referring to the inexplicable overreach by Gary Gensler and the SEC. The saga continues, and what I've witnessed is the complete erosion of people's sovereignty in the US. The SEC is dictating what people can and cannot do with their money and has behaved in an extremely bizarre manner for many years now.
Click to expand...
I thought it was just the typical US attack to Binance. Americans do not like that "Chinese-born Canadian".

The EU is still blocking Huawei from implementing its 5G network in Europe. Europe just fired itself on the foot haha... as always. Our very corrupt EU politicians limit themselves to taking FAANG money (as well as Qatari money, as it became public...) and allow American companies to skip any law in Europe. Data protection? Privacy?

The EU does not move a finger against FAANG.
 
#926
The FED will disappoint tomorrow... again.

If Paul Volcker, may he rest in peace, was the FED chair nowadays, interest rates would be over 10%.

Powell is just a coward and his FED is full of corruption.

Powell will be remembered as the most corrupt FED chair in history. During his tenure there have been constant scandals about insider trading, leaks of confidencial information to third parties.. and then there's the obvious transfer of FED officials and board members that go work for investment banks and private companies right after leaving the FED.
 
#927
It is about time that the EU and the US force Google and other "Tech" Companies to break up in smaller units that actually compete, instead of being privileged monopolies that routinely break the law and do not pay taxes anywhere.

Consumers can turn their back on these companies so they get the message. We, ordinary people, cannot be paying the taxes that Apple, Google, Microsoft and the like do NOT pay.
 
#929
The EU should send the tax authorities after Big Tech to make those companies comply with each and every rule.

It seems that Airbnb has not been paying VAT in Europe, and no one moves a finger about it. In the meantime, ordinary citizens are paying more taxes than ever.
 

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