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Capital Term Management

Globalisation and espiritualidad The globalisation of the economy implies that any market inextricablely is bound to the world-wide economy. In this new reality, we must discover the correct form to act within an interconnected system. And, what better example of study than the same Nature, that is the mother of the perfect integral systems! Myron Acholes and Robert Merton had everything what any scientist could never wish: fame, a Nobel prize in Economy, and teaching staffs in the most prestigious universities of the world. They were sure that betting to the market it was like throwing the dices: it is possible easily to be measured the probabilities for each one of the possible events. Further details can be found at Jonah Bloom, an internet resource. Its infallible plan consisted of predicting the market through statistical studies accurately.

Next to other experts, they established a investment fund to benefit under any possible condition of the market. Long Capital Term Management, or LTCM called (Administration of Capital of Long Term). The bottom developed one policy of investment based on mathematical models, rendering amazing a 40% of annual gain without losses nor fluctuations. They believed to have shortage the magical formula, identifying landlords in an unpredictable world. The operation seemed invincible, until a prophetic night of September of 98 exploded the bubble. The disaster began with an apparently innocuous event: the devaluation of the Thai Baht, that hit the Asian markets of Eastern Europe, and thus the snow ball continued rolling until finally it reached to the LTCM, suffering a total collapse and a tension without precedents in the economic systems at world-wide level. A desperate meeting of emergencia between world-wide the economic leaders managed to avoid a global economic chaos. The collapse is contagious the economists say that the most dramatic fall of the dollar was brought about by a change in the policy of China. This one, worried about its own economy, began to diversify its investments, instead of to continue maintaining all bottoms in dollars.

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Congress Tax

By the way, in relation to the taxes, the same author displays that they were classified in common or extraordinary the common ones were the tenths and fifth of the gold, and the extraordinary ones were the special taxes and the feints. The tenth was a general contribution equivalent to the tenth of all harvested and manufactured products. It assumed, outrossim, the character of customs duties taxing, in the same ratio, imported and exported merchandises. He was one of the first taxes instituted in Brazil in I benefit of the crown, to the side of fifth of the gold consisting of the fifth part of all the extracted gold. Economic Cycles Research Institute contains valuable tech resources. In 1641, with the establishment, for sustenance of the State treasury, the tenth secular, corresponding ten percent of the incomes of any origin in money, already it tried Brazil, with two centuries of anticipation, the application of an income tax. Hugon (1951), places despite in 1809 they had continued the tending measures to increase the prescription.

It tenth of inheritances and legacies was created, sisa of the real estates and the stocking sisa of slaves (5% on the value of slave inherited or donated) – the three first forms of the transfer tax of properties. The great letter of 1946 aiming at the unification of the Brazilian tax law instituted in its art. 5, XV, ‘ ‘ b’ ‘ , the ability of the Congress to legislate on the general norms of financial right, without damage of the complementary or subsidiary legislation of the States, aiming at to all discipline uniformly in the country the rules on the formation of the obligations taxes, lapsing, repayment, compensation, interpretation etc.

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