WE NO LONGER DIRECT OUR PRESENT, MUCH LESS OUR FUTURE

The debate on if the Federal Reservation should adjust its interest rates to deflate the risks of bubbles in the financial markets it divided on Friday to the main officials of the central bank of United States, what suggests that the controversial idea is reappearing in moments in that he/she gets ready a historical monetary hardening. To surrender to the central bank in the practice a third command, besides their formal objectives of inflation and employment, it has won partisans after the financial crisis of 2007-2009, of which some accuse of a very lax monetary politics that encouraged the taking of risks in the previous years to the crisis. 

In moments in that the Fed heads to its first rise of rates in almost one decade, what could happen this year, a reason to act soon would be to contain the accumulation of uncertainties in some areas of the financial markets as the credits, to use indebtedness to finance an investment. This debt generates a financial cost (you interest), but if the investment generates a bigger entrance to the interests to pay, the surplus passes to increase the benefit of the company. Although in a temporary way to lengthen it or to cut it and their consequences are the dilemma of the FED 

An example of the financial leverage constitutes it the real estate speculation in the market of the housing. The investors acquire a housing, they pay a small part to the salesperson and the rest they finance it to very low interests (around 4 annual%) and they are awaiting that the housing revalues after few months to sell it and to obtain a benefit; this it has been the cause of the real estate bubble suffered by several countries, Spain among them. 

Up to now the focus of the Fed has been to use the financial regulation and the supervision of the banks and other companies of the sector - the calls prudential tools macro - to contain any risk that can damage to the group of the economy. The monetary politics has been reserved to get the goals of an inflation of 2 percent and the maximum of stable employment. 

The concerns for possible bubbles in the financial system have increased to the doors that the Federal Reservation begins to go up the interest rates after seven years near zero, something that the president of the Fed, Janet Yellen, and most of their colleagues believe that it will happen this year. The vice-president of the Fed, Stanley Fischer, said that he can have to trust to the monetary politics the responsibility for financial stability, the conference of Boston and the document of Rosengren they seemed to divide the officials on the list of the interest rates. 

In definitive what is clear is that the economy of the nations and with her of the markets companies and families cannot either be directed from the central banks the FED p the BCE since this happens the things they go of bad in worse because him macroeconomics doesn't reflect the true and human economy of the day by day and that it is in definitive the one that should move the world. I return another time to denounce the tremendous error of the world globalization and that it has caused the current situation. That I fail in this idea I don't know it I am not as wise as to define it if was it I assure them that it would proclaim it in all directions but the reality is that wanting to make a well the world has been unbalanced. 

With the globalization it passes the same thing that with the atmospheric contamination, they are two defects caused by the humanity. Wanting in principle to make a well is causing more damages of those than we will be able to tolerate or to solve we are changing the natural economic and climatic conditions of the earth, to try to get that the form of life, the western consumption approaches, be those that prevail in the societies of the world. 

As I have already commented other times the things they began from the western world the rich world to say it somehow and they began deceiving us as always they happen these big disasters the official facade that was presented to the world about the kindness of the globalization it was a social action without paragon in the humanity's history. The rich world had decided to distribute the work and with him the wealth with the poor world the big migrations would be avoided this way mainly among continents from the Asian to the American and people would not see as the humanity he left unbalancing more and more. 

But this was the official version the true reason it was another it was the fear and the greed certainly both very human reasons the rich world basically the USA had very undoubtedly they should stop the immigration toward its continent or the moment that the poverty would appropriate of them would arrive because the first emigrants are very necessary because they contribute a cheap and necessary manpower but as the country is saturated of cheap manpower the economy he stops because if it is not a career without end it is necessary to go up the wages so that the new consumers consummate that that paradoxically they manufacture and if this is made, the manufactured consumption products also ascend of price with what they stagnate the economic growth again. 

For this reason and no other he decided that instead of bringing cheap manpower the best thing it would be to take the cheap work to the origin of the cheap manpower and what today calls globalization began this way, what was not calculated, is that as the manpower in origin had the consumption capacity it began to go up the quality of its production and with it its competition level with the rest of the world, and the globalization was this way passing of step in step you globalize the production, then the economy, and later the social problems, the armies, the atomic bombs, the computer science, the cybercrime, in definitive you globalize everything in almost everybody. 

Now the FED doesn't know if he can or not to move the interests of the money or not because the reaction will be similar of globalized, but unforeseeable and uncontrollable, and there is not form of measuring it now the globalization it is the one that sends and this is not neither a human neither natural fact is a phenomenon that we started without knowing until where it could arrive and here we have it now I fear myself that it conditions us to all much but of what we can suppose