{"id":1674,"date":"2023-05-11T18:41:18","date_gmt":"2023-05-11T18:41:18","guid":{"rendered":"https:\/\/activtrades.lat\/macro-journal\/?page_id=1674"},"modified":"2023-05-11T19:13:54","modified_gmt":"2023-05-11T19:13:54","slug":"maio","status":"publish","type":"page","link":"https:\/\/activtrades.lat\/macro-journal\/maio\/","title":{"rendered":"Maio"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"1674\" class=\"elementor elementor-1674\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e0456d3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e0456d3\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f13ebb3\" data-id=\"f13ebb3\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b4a7c54 elementor-align-right elementor-mobile-align-right elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"b4a7c54\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/plugins\/elementor\/assets\/css\/widget-icon-list.min.css\">\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-calendar-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">S\u00e1bado, 13 de mayo de 2023\u200b<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5c56623 elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"5c56623\" data-element_type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"83\" height=\"81\" viewBox=\"0 0 83 81\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M83 0H0V80.5038H83V0ZM77.1621 4.36842L43.1556 70.8308C42.4191 72.3338 41.0821 73.5331 39.1317 74.4568C37.9177 75.0219 36.6355 75.4079 35.3123 75.6007H30.1288C28.7785 75.4079 27.4687 75.0219 26.2141 74.4842C24.1816 73.5882 22.7902 72.4162 22.0399 70.9963L5.61649 39.4539H23.6494L38.845 64.8893L69.7824 4.36842H77.1621Z\" fill=\"white\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-099effc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"099effc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-f38f3f4\" data-id=\"f38f3f4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d91f904 elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"d91f904\" data-element_type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"146\" height=\"20\" viewBox=\"0 0 146 20\" fill=\"none\"><path d=\"M79.9543 9.29987H76.6166C76.031 9.29987 75.7383 9.45083 75.7383 9.75273V19.2481H70.1279V9.74905C70.1279 9.44714 69.8242 9.29619 69.2167 9.29619H64.7299L65.8241 7.21228H79.9543V9.29987Z\" fill=\"white\"><\/path><path d=\"M94.8678 19.249H89.1733L85.0232 15.9316V19.249H79.9545V9.54736H86.2821C88.112 9.54736 89.6527 9.72409 90.908 10.0775C92.6463 10.5709 93.5137 11.3441 93.5137 12.3971C93.5137 13.104 93.0965 13.6968 92.2621 14.1717C91.5704 14.5546 90.6555 14.8345 89.5173 15.0038L94.8678 19.249ZM89.2867 12.3934C89.2867 11.3146 87.2775 11.2447 86.5932 11.2447H85.0232V13.3949H86.5932C87.2775 13.3949 89.2867 13.4722 89.2867 12.3934Z\" fill=\"white\"><\/path><path d=\"M108.711 19.2486H103.938L103.393 17.8974H97.9987L97.4534 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18.9738 10.8248C20.3828 9.87492 22.0772 9.39996 24.0644 9.40365H29.4771L28.5951 11.101H24.0791C23.1385 11.101 22.5091 11.4986 22.1907 12.2976C22.0113 12.732 21.9198 13.38 21.9198 14.2489C21.9198 15.1178 22.0113 15.7658 22.1907 16.2003C22.5091 16.9956 23.1385 17.3932 24.0791 17.3932H29.4771V19.0868Z\" fill=\"white\"><\/path><path d=\"M17.6252 19.0867H11.722L11.045 17.4152H4.36603L3.68899 19.0867H0L5.53714 7.08768L12.099 7.06927L17.6252 19.0867ZM10.1081 15.0993L7.72565 9.24155L5.35781 15.0956L10.1081 15.0993Z\" fill=\"white\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5646b0f elementor-widget elementor-widget-heading\" data-id=\"5646b0f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">Macro Journal<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-696c57c elementor-widget elementor-widget-heading\" data-id=\"696c57c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">ocurriendo ahora<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6155a6b elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"6155a6b\" data-element_type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"25\" viewBox=\"0 0 24 25\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M23.6083 11.5173C23.4845 11.392 23.3374 11.2926 23.1754 11.2247C23.0135 11.1569 22.8399 11.1219 22.6645 11.1219C22.4892 11.1219 22.3155 11.1569 22.1536 11.2247C21.9916 11.2926 21.8445 11.392 21.7207 11.5173L11.9997 21.334L2.27863 11.5173C2.02831 11.2646 1.6888 11.1227 1.33479 11.1227C0.980782 11.1227 0.641272 11.2646 0.390949 11.5173C0.140627 11.7701 0 12.1128 0 12.4702C0 12.8276 0.140627 13.1704 0.390949 13.4231L11.0558 24.19C11.1796 24.3153 11.3268 24.4147 11.4887 24.4826C11.6507 24.5504 11.8243 24.5854 11.9997 24.5854C12.175 24.5854 12.3486 24.5504 12.5106 24.4826C12.6725 24.4147 12.8197 24.3153 12.9435 24.19L23.6083 13.4231C23.7325 13.2981 23.831 13.1495 23.8982 12.986C23.9654 12.8225 24 12.6472 24 12.4702C24 12.2932 23.9654 12.1179 23.8982 11.9544C23.831 11.7909 23.7325 11.6424 23.6083 11.5173Z\" fill=\"#F0F0F0\"><\/path><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M23.6083 0.378207C23.4845 0.258322 23.3374 0.163206 23.1754 0.0983076C23.0135 0.0334091 22.8399 2.86102e-06 22.6645 2.86102e-06C22.4892 2.86102e-06 22.3155 0.0334091 22.1536 0.0983076C21.9916 0.163206 21.8445 0.258322 21.7207 0.378207L11.9997 9.7681L2.27863 0.378207C2.02831 0.136478 1.6888 0.000679016 1.33479 0.000679016C0.980782 0.000679016 0.641272 0.136478 0.390949 0.378207C0.140627 0.619937 0 0.947792 0 1.28965C0 1.63151 0.140627 1.95936 0.390949 2.20109L11.0558 12.4998C11.1796 12.6197 11.3268 12.7148 11.4887 12.7797C11.6507 12.8446 11.8243 12.8781 11.9997 12.8781C12.175 12.8781 12.3486 12.8446 12.5106 12.7797C12.6725 12.7148 12.8197 12.6197 12.9435 12.4998L23.6083 2.20109C23.7325 2.08151 23.831 1.93944 23.8982 1.78304C23.9654 1.62665 24 1.45898 24 1.28965C24 1.12032 23.9654 0.952652 23.8982 0.796252C23.831 0.639853 23.7325 0.497791 23.6083 0.378207Z\" fill=\"#F0F0F0\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7055e520 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7055e520\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3f4a07bc\" data-id=\"3f4a07bc\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-733f82d8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"733f82d8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-4ce838c6\" data-id=\"4ce838c6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e88a040 elementor-widget elementor-widget-heading\" data-id=\"e88a040\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Pref\u00e1cio<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-202659c0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"202659c0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-6d1f4ae1\" data-id=\"6d1f4ae1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-20f9d6a8 elementor-widget elementor-widget-text-editor\" data-id=\"20f9d6a8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span style=\"font-weight: 400;\">La secci\u00f3n Macro Geopol\u00edtica presenta un breve debate sobre la influencia china y rusa en \u00c1frica y Am\u00e9rica Latina.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ade1c9b elementor-widget elementor-widget-image\" data-id=\"3ade1c9b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"509\" height=\"339\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/01.jpg\" class=\"attachment-1536x1536 size-1536x1536 wp-image-1678\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/01.jpg 509w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/01-300x200.jpg 300w\" sizes=\"(max-width: 509px) 100vw, 509px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-184b6f6b elementor-widget elementor-widget-text-editor\" data-id=\"184b6f6b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">La secci\u00f3n Macroeconom\u00eda presenta una visi\u00f3n general de la inflaci\u00f3n, los tipos de inter\u00e9s, las divisas y un enfoque especial para los mercados en 2023.<\/span><\/p><p><span style=\"font-weight: 400;\">Por \u00faltimo, la secci\u00f3n de Entretenimiento de este mes ser\u00e1 diferente y merece la pena echarle un vistazo.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5e0a254e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5e0a254e\" data-element_type=\"section\" id=\"macro\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-222b821c\" data-id=\"222b821c\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2bf62896 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2bf62896\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-73f65962\" data-id=\"73f65962\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-286061e4 elementor-widget elementor-widget-heading\" data-id=\"286061e4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Macro Geopol\u00edtica<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7b4c8b8e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7b4c8b8e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-eaa79b5\" data-id=\"eaa79b5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6ab210fa elementor-widget elementor-widget-heading\" data-id=\"6ab210fa\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\u201cLa t\u00e1ctica sin estrategia es el ruido que precede a la derrota\".Sun Tzu\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-96052cd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"96052cd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-525588d\" data-id=\"525588d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-77446afc elementor-widget elementor-widget-text-editor\" data-id=\"77446afc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>RUSIA Y CHINA<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-73152fd0 elementor-widget elementor-widget-text-editor\" data-id=\"73152fd0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Rusia y China tienen una estrategia muy clara: alinear al mayor n\u00famero de pa\u00edses posible en todo el mundo para hacer negocios rentables.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Ir\u00f3nicamente, las antiguas naciones comunistas se han vuelto muy comerciales al comprender, finalmente, que la influencia se consigue m\u00e1s f\u00e1cilmente a trav\u00e9s del beneficio financiero que de la ideolog\u00eda.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1fec227e\" data-id=\"1fec227e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-92146c2 elementor-widget elementor-widget-image\" data-id=\"92146c2\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/02-scaled-1-1024x576.jpg\" class=\"attachment-large size-large wp-image-1691\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/02-scaled-1-1024x576.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/02-scaled-1-300x169.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/02-scaled-1-768x432.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/02-scaled-1-1536x864.jpg 1536w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/02-scaled-1-2048x1152.jpg 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-d3ebcc2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d3ebcc2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-ac47707\" data-id=\"ac47707\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1e0bd13b elementor-widget elementor-widget-text-editor\" data-id=\"1e0bd13b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Los pa\u00edses emergentes no quieren elegir un bando, quieren ganar dinero. \u00bfY qui\u00e9n ofrece actualmente las mejores ofertas para ganar dinero?<\/span><\/p><p><span style=\"font-weight: 400;\">Desde luego, Estados Unidos no.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7808aabe elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7808aabe\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-fbfd366\" data-id=\"fbfd366\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-39261eae elementor-widget elementor-widget-image\" data-id=\"39261eae\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"530\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/03.jpg\" class=\"attachment-large size-large wp-image-1694\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/03.jpg 890w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/03-300x199.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/03-768x509.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3b09465c\" data-id=\"3b09465c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6586aca2 elementor-widget elementor-widget-text-editor\" data-id=\"6586aca2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>GUERRA<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7468b346 elementor-widget elementor-widget-text-editor\" data-id=\"7468b346\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Consideremos las 25 mayores econom\u00edas no alineadas (las que no han impuesto sanciones a Rusia o se han declarado neutrales en la disputa chino-estadounidense). En conjunto, representan el 45% de la poblaci\u00f3n mundial y el 18% del PIB mundial.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-34e312e8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"34e312e8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-131024fc\" data-id=\"131024fc\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4c6d86a4 elementor-widget elementor-widget-text-editor\" data-id=\"4c6d86a4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Y es en estos pa\u00edses donde China y Rusia est\u00e1n concentrando toda la energ\u00eda y los recursos disponibles. En Brasil se han firmado m\u00e1s de 20 acuerdos en 2023.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Hasta aqu\u00ed, todo normal.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Son activos econ\u00f3micos, accesibles y con un potencial interesante a medio-largo plazo.<\/span><\/p><p><span style=\"font-weight: 400;\">Lo que causa extra\u00f1eza es la pasividad de EEUU ante esta realidad. <\/span><b>No parecen entender el juego.<\/b><\/p><p><span style=\"font-weight: 400;\">Me explico:<\/span><\/p><p><span style=\"font-weight: 400;\">Hemos tenido paz durante m\u00e1s de 30 a\u00f1os. Para muchos, toda una vida.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">El resurgimiento de los conflictos geopol\u00edticos es un shock que la mayor\u00eda de la poblaci\u00f3n no sabe c\u00f3mo afrontar. El problema es que nuestros gobernantes tampoco parecen saberlo y se comportan como aficionados.\u00a0<\/span><\/p><p><b>Por un lado, tenemos a China y Rusia jugando a la GUERRA (conquistando literalmente aliados y territorios) y, por otro, a Estados Unidos y Europa jugando a ser polic\u00edas y ladrones, mucho m\u00e1s preocupados por mantener la imagen de -nosotros somos los buenos y ellos los malos- que por idear y ejecutar realmente un plan de acci\u00f3n<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Resulta pat\u00e9tico.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7d8902cc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7d8902cc\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-71dcb03\" data-id=\"71dcb03\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2f8ea95e elementor-widget elementor-widget-text-editor\" data-id=\"2f8ea95e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>RUSIA<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c86a043 elementor-widget elementor-widget-text-editor\" data-id=\"c86a043\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">La influencia rusa en Am\u00e9rica Latina, as\u00ed como su influencia en \u00c1frica, va en aumento. Esta realidad no encaja con la narrativa de que \u00abRusia est\u00e1 en bancarrota y aislada\u00bb que vemos en la prensa dominante.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">En Sud\u00e1n, por ejemplo, su presencia es cada vez m\u00e1s evidente. Desde el ej\u00e9rcito oficial hasta las fuerzas rebeldes, todos cuentan con el apoyo de Rusia. <\/span><span style=\"font-weight: 400;\">No importa qu\u00e9 bando prevalezca. Los rusos saldr\u00e1n victoriosos<\/span><span style=\"font-weight: 400;\">.<\/span><\/p><p><span style=\"font-weight: 400;\">Puede que a Vladimir Putin ni siquiera le interese el control pol\u00edtico. Que el objetivo sea simplemente saquear bienes valiosos como el oro y hacer uso de lugares estrat\u00e9gicos como los puertos sudaneses en el Mar Rojo. Lo que sea. <\/span><b>Esta es la manera de jugar una guerra: hacer que todas las piezas trabajen a tu favor<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-69747e44\" data-id=\"69747e44\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2bc4be01 elementor-widget elementor-widget-image\" data-id=\"2bc4be01\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"564\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/04-scaled-1-1024x722.jpg\" class=\"attachment-large size-large wp-image-1701\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/04-scaled-1-1024x722.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/04-scaled-1-300x212.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/04-scaled-1-768x542.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/04-scaled-1-1536x1083.jpg 1536w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/04-scaled-1-2048x1444.jpg 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-47a49c62 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"47a49c62\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-3cb2f07a\" data-id=\"3cb2f07a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-48e7caad elementor-widget elementor-widget-text-editor\" data-id=\"48e7caad\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">En Am\u00e9rica Latina, Rusia sigue reforzando sus lazos con el continente -incluidos Nicaragua, Cuba y Venezuela- mientras busca aperturas en otros lugares, como Chile, Argentina y Brasil.<\/span><\/p><p><span style=\"font-weight: 400;\">Una vez iniciada la guerra en Ucrania, Mosc\u00fa intensific\u00f3 su ya robusta guerra informativa contra Estados Unidos. <\/span><b>Est\u00e1n surgiendo se\u00f1ales preocupantes de que los dictadores latinoamericanos est\u00e1n utilizando la ayuda y los modelos rusos para consolidar su dominio interno.\u00a0<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2a080584 elementor-widget elementor-widget-text-editor\" data-id=\"2a080584\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Am\u00e9rica Latina<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-47c51f62 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"47c51f62\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-22b7fd49\" data-id=\"22b7fd49\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-40610fb8 elementor-widget elementor-widget-image\" data-id=\"40610fb8\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"339\" height=\"509\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/05.jpg\" class=\"attachment-large size-large wp-image-1705\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/05.jpg 339w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/05-200x300.jpg 200w\" sizes=\"(max-width: 339px) 100vw, 339px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7be3158\" data-id=\"7be3158\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-70175ce5 elementor-widget elementor-widget-text-editor\" data-id=\"70175ce5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">En Venezuela, el gobierno de Nicol\u00e1s Maduro ha ampliado la cooperaci\u00f3n militar y de inteligencia con Rusia, hasta el punto de que recientemente funcionarios rusos y venezolanos llegaron a un acuerdo para establecer \u00abun corredor mar\u00edtimo directo\u00bb entre los dos pa\u00edses \u00ablo antes posible\u00bb para facilitar el comercio y profundizar a\u00fan m\u00e1s las relaciones.<\/span><\/p><p><span style=\"font-weight: 400;\">En Nicaragua, el r\u00e9gimen de Daniel Ortega est\u00e1 construyendo una dictadura integral. Mosc\u00fa desempe\u00f1a un papel activo en la ciberinteligencia del pa\u00eds <\/span><b>y est\u00e1 reuniendo un cuadro de oficiales de inteligencia prorrusos que podr\u00e1n operar en toda Am\u00e9rica Latina, como una fuerza policial nacional. <\/b><span style=\"font-weight: 400;\">Rusia tiene 250 soldados en el pa\u00eds y Nicaragua mantiene activamente un sat\u00e9lite de telecomunicaciones Glonass, integr\u00e1ndose as\u00ed con las estructuras de la red cibern\u00e9tica de Mosc\u00fa.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1dba6581 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1dba6581\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1c3dd4a5\" data-id=\"1c3dd4a5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4813d0d9 elementor-widget elementor-widget-text-editor\" data-id=\"4813d0d9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2><b>Intelig\u00eancia Cibern\u00e9tica<\/b><\/h2>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5a5d318a elementor-widget elementor-widget-heading\" data-id=\"5a5d318a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Adem\u00e1s de la historia de los esfuerzos rusos por ampliar la influencia, apalancamiento y la presencia estrat\u00e9gica en Am\u00e9rica Latina, las actividades actuales de Mosc\u00fa reflejan una voluntad continuada de utilizar todas las herramientas de su oficio -capacidades econ\u00f3micas, militares, cibern\u00e9ticas y diplom\u00e1ticas- para lograr resultados e integrar sus pol\u00edticas en la nueva prioridad del Sur Global (es decir, \u00c1frica, Asia y Am\u00e9rica Latina).\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3267a54c\" data-id=\"3267a54c\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-49528791 elementor-widget elementor-widget-image\" data-id=\"49528791\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"664\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/nova-foto-1-scaled-1-1024x850.jpg\" class=\"attachment-large size-large wp-image-1710\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/nova-foto-1-scaled-1-1024x850.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/nova-foto-1-scaled-1-300x249.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/nova-foto-1-scaled-1-768x638.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/nova-foto-1-scaled-1-1536x1276.jpg 1536w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/nova-foto-1-scaled-1-2048x1701.jpg 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-6dc24bc9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6dc24bc9\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-e0f336c\" data-id=\"e0f336c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-45e49122 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"45e49122\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-29b58ab0\" data-id=\"29b58ab0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6cb98114 elementor-widget elementor-widget-heading\" data-id=\"6cb98114\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-medium\">CHINA<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-58abd03c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"58abd03c\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-288b4d82\" data-id=\"288b4d82\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5554b2c3 elementor-widget elementor-widget-text-editor\" data-id=\"5554b2c3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">De hecho, el espionaje y los agentes encubiertos est\u00e1n arraigados en el ADN sovi\u00e9tico. Es un juego que dominan y al que est\u00e1n acostumbrados. Los chinos, en cambio, prefieren una din\u00e1mica diferente; con menos violencia f\u00edsica y m\u00e1s psicol\u00f3gica.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Atacan en el lugar m\u00e1s sensible del cuerpo humano:<\/span> <b>el bolsillo<\/b><b>.<\/b><\/p><p><span style=\"font-weight: 400;\">Negociar con el gobierno de Xi Jinping no es f\u00e1cil. Los chinos tienen fama de duros. De exprimir hasta la \u00faltima gota. <\/span><b>Ahora imag\u00ednense cuando al otro lado hay alguien mucho m\u00e1s pobre, mucho m\u00e1s d\u00e9bil y sin alternativas.\u00a0<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7cfd4207 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7cfd4207\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-31cfa3c1\" data-id=\"31cfa3c1\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-696f58e0 elementor-widget elementor-widget-image\" data-id=\"696f58e0\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/07-scaled-1-1024x683.jpg\" class=\"attachment-large size-large wp-image-1714\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/07-scaled-1-1024x683.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/07-scaled-1-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/07-scaled-1-768x512.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/07-scaled-1-1536x1024.jpg 1536w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/07-scaled-1-2048x1366.jpg 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-30db962a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"30db962a\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-153167bb\" data-id=\"153167bb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5afc8cc4 elementor-widget elementor-widget-text-editor\" data-id=\"5afc8cc4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Esta ha sido la t\u00f3nica de los pa\u00edses emergentes.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">China navega pr\u00e1cticamente sin competencia en un oc\u00e9ano de oportunidades y compra -a su precio, claro- casi todo lo que se le pone por delante, especialmente proyectos de infraestructuras.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Llama la atenci\u00f3n el discurso habitual de los jefes de Estado a la hora de justificar los acuerdos:<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-384ebff2 elementor-blockquote--skin-boxed elementor-blockquote--button-color-official elementor-widget elementor-widget-blockquote\" data-id=\"384ebff2\" data-element_type=\"widget\" data-widget_type=\"blockquote.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor-pro - v3.7.0 - 08-05-2022 *\/\n@charset \"UTF-8\";.entry-content blockquote.elementor-blockquote:not(.alignright):not(.alignleft),.entry-summary blockquote.elementor-blockquote{margin-right:0;margin-left:0}.elementor-widget-blockquote blockquote{margin:0;padding:0;outline:0;font-size:100%;vertical-align:baseline;background:transparent;quotes:none;border:0;font-style:normal;color:#55595c}.elementor-widget-blockquote blockquote:after,.elementor-widget-blockquote blockquote:before,.elementor-widget-blockquote blockquote cite:after,.elementor-widget-blockquote blockquote cite:before,.elementor-widget-blockquote blockquote footer:after,.elementor-widget-blockquote blockquote footer:before{content:\"\";content:none}.elementor-blockquote{-webkit-transition:.3s;-o-transition:.3s;transition:.3s}.elementor-blockquote__author,.elementor-blockquote__content{margin-bottom:0;font-style:normal}.elementor-blockquote__author{font-weight:700}.elementor-blockquote 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.elementor-blockquote__author,.elementor-blockquote--align-center .elementor-blockquote footer{display:block}.elementor-blockquote--align-center .elementor-blockquote__tweet-button{margin-right:auto;margin-left:auto}<\/style>\t\t<blockquote class=\"elementor-blockquote\">\n\t\t\t<p class=\"elementor-blockquote__content\">\n\t\t\t\t                             \"No podemos hacer nada. Tenemos que crear empleo.                  Si Rusia y China compran, nosotros tenemos que vender. Si son los \u00fanicos interesados en invertir, \u00bfqu\u00e9 opci\u00f3n nos queda?\".\n\t\t\t<\/p>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3aee0513 elementor-widget elementor-widget-text-editor\" data-id=\"3aee0513\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">\u00bfPodemos condenarlo?\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Los estadounidenses podr\u00edan -y estrat\u00e9gicamente deber\u00edan- equilibrar la ecuaci\u00f3n. Tienen dinero, pero como a\u00fan no han entendido el juego, no est\u00e1n tan interesados en el resto del mundo. Menos a\u00fan en Am\u00e9rica Latina o \u00c1frica.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Su mayor preocupaci\u00f3n sigue siendo evitar la desdolarizaci\u00f3n de la econom\u00eda mundial. <\/span><b>Lo que, desgraciadamente, significa que no entienden que est\u00e1 en juego algo m\u00e1s profundo. No se trata de la moneda fiduciaria que utilicen, sino, m\u00e1s bien, del gobierno o entidad que controlen.<\/b><\/p><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1a04cef6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1a04cef6\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-296014c3\" data-id=\"296014c3\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-33c4b427 elementor-widget elementor-widget-image\" data-id=\"33c4b427\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"594\" height=\"391\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/08.jpg\" class=\"attachment-large size-large wp-image-1719\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/08.jpg 594w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/08-300x197.jpg 300w\" sizes=\"(max-width: 594px) 100vw, 594px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-13b17bde\" data-id=\"13b17bde\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-31ce71f2 elementor-widget elementor-widget-heading\" data-id=\"31ce71f2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">De hecho, Rusia y China est\u00e1n \"conquistando\" piezas consideradas marginales e irrelevantes en el tablero de la GUERRA. El problema es que son demasiadas. Y aunque lo digo tristemente; estrat\u00e9gicamente me parece l\u00f3gico; \u00c1frica y Am\u00e9rica Latina son los dos continentes de mayor crecimiento demogr\u00e1fico del planeta, carecen de infraestructuras y ambos tienen una seductora peculiaridad; atiborrados de dictadores y corrupci\u00f3n.\u00a0\n\nGran puerta de entrada y un plato lleno para Xi Jinping y Putin.\n\n<br>\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-48c85ab5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"48c85ab5\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-543677a5\" data-id=\"543677a5\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4b0b50cc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4b0b50cc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-559378f0\" data-id=\"559378f0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4825789b elementor-widget elementor-widget-heading\" data-id=\"4825789b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Macroeconomia<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-cfc75d3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cfc75d3\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6e4ddb4f\" data-id=\"6e4ddb4f\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5c309d94 elementor-widget elementor-widget-text-editor\" data-id=\"5c309d94\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">\u00bfQuiere una perspectiva actualizada de la econom\u00eda mundial?\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Pues bien, el Fondo Monetario Internacional (FMI) ha publicado recientemente sus expectativas para la econom\u00eda mundial y, aunque no deba basar tus decisiones de inversi\u00f3n \u00fanicamente en estos datos, merece la pena echarles un vistazo y evaluar cu\u00e1les son las previsiones para los distintos pa\u00edses.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2a80597a elementor-widget elementor-widget-text-editor\" data-id=\"2a80597a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">En general, el FMI ha rebajado su previsi\u00f3n de crecimiento del PIB mundial para 2023 del 3,4% al 2,8%. <\/span><b>Curiosamente, estas cifras dependen en gran medida de los buenos resultados de China e India, 5,2% y 5,9% respectivamente.<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-66ed150\" data-id=\"66ed150\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-735cde98 elementor-widget elementor-widget-image\" data-id=\"735cde98\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"845\" height=\"1114\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/09.jpg\" class=\"attachment-full size-full wp-image-1734\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/09.jpg 845w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/09-228x300.jpg 228w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/09-777x1024.jpg 777w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/09-768x1012.jpg 768w\" sizes=\"(max-width: 845px) 100vw, 845px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-63a167a7 elementor-align-left elementor-icon-list--layout-inline elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"63a167a7\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.imf.org\/en\/Publications\/WEO\/Issues\/2023\/04\/11\/world-economic-outlook-april-2023\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">https:\/\/www.imf.org\/en\/Publications\/WEO\/Issues\/2023\/04\/11\/world-economic-outlook-april-2023<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-76b54012 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"76b54012\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-131d8079\" data-id=\"131d8079\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-55870202 bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"55870202\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">China e \u00cdndia<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6afc9147 elementor-widget elementor-widget-text-editor\" data-id=\"6afc9147\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Se espera que las econom\u00edas avanzadas crezcan s\u00f3lo un 1,3% en 2023. Entre las desarrolladas, la mayor revisi\u00f3n correspondi\u00f3 a Jap\u00f3n, que pas\u00f3 del 1,8% al 1,3%. Aunque no parezca mucho, supone una reducci\u00f3n de casi el 30% en las expectativas de crecimiento.<\/span><\/p><p><span style=\"font-weight: 400;\">En las econom\u00edas emergentes y en desarrollo, el FMI espera un crecimiento del 3,9%, aunque para Brasil el PIB previsto es de s\u00f3lo el 0,9% en 2023.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-33f80dc8\" data-id=\"33f80dc8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3fd0c529 elementor-widget elementor-widget-image\" data-id=\"3fd0c529\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"2048\" height=\"1365\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/10-2048x1365.jpg\" class=\"attachment-2048x2048 size-2048x2048 wp-image-1739\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/10-2048x1365.jpg 2048w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/10-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/10-1024x683.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/10-768x512.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/10-1536x1024.jpg 1536w\" sizes=\"(max-width: 2048px) 100vw, 2048px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-785a71b4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"785a71b4\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-5f93e92c\" data-id=\"5f93e92c\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6b24fd5a elementor-widget elementor-widget-text-editor\" data-id=\"6b24fd5a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Las previsiones de referencia del FMI apuntan a una desaceleraci\u00f3n prolongada (es decir, un aterrizaje \u00absuave\u00bb). Tambi\u00e9n sugieren una recuperaci\u00f3n muy lenta, con un crecimiento que no volver\u00e1 a repuntar hasta 2025.<\/span><\/p><p><span style=\"font-weight: 400;\">Sin embargo, tambi\u00e9n destacan el creciente n\u00famero de riesgos que podr\u00edan llevar a una rebaja de las previsiones. En particular<\/span><\/p><ul><li><span style=\"font-weight: 400;\">Apreciaci\u00f3n del d\u00f3lar,<\/span><\/li><li><span style=\"font-weight: 400;\">Endurecimiento de las condiciones crediticias y<\/span><\/li><li><span style=\"font-weight: 400;\">La ca\u00edda de los precios de las acciones se consideran un riesgo potencial para el crecimiento.<\/span><\/li><\/ul><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">Tambi\u00e9n se considera un riesgo la dependencia de China e India para alcanzar las cifras de crecimiento previstas, as\u00ed como los evidentes riesgos geopol\u00edticos.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1dcd10c3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1dcd10c3\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-66409cc6\" data-id=\"66409cc6\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-15b063c2 bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"15b063c2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">ESTADOS UNIDOS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-67948ad0 elementor-widget elementor-widget-text-editor\" data-id=\"67948ad0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Mi punto de vista en este momento no es particularmente diferente de la expectativa de consenso. Se est\u00e1 produciendo una desinflaci\u00f3n, la econom\u00eda estadounidense se est\u00e1 debilitando, los bancos, al margen, est\u00e1n quebrando, <\/span><b>por lo que es probable que el enfoque pase de la mera lucha contra la inflaci\u00f3n a un planteamiento equilibrado entre estabilidad financiera, crecimiento econ\u00f3mico e inflaci\u00f3n.<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2fd351e7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2fd351e7\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-37cf007c\" data-id=\"37cf007c\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1d025687 bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"1d025687\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">D\u00e9ficit P\u00fablico<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-50e0f94 elementor-widget elementor-widget-text-editor\" data-id=\"50e0f94\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">El Tesoro estadounidense public\u00f3 los resultados fiscales a finales de marzo y las cifras de 2023 fueron peores que las de 2022, tanto en ingresos como en gastos.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">En t\u00e9rminos de porcentaje del PIB, la deuda actual es comparable a la registrada en el punto \u00e1lgido de la Segunda Guerra Mundial (129%).<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4683a306\" data-id=\"4683a306\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1e7aac02 elementor-widget elementor-widget-image\" data-id=\"1e7aac02\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"418\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/11.jpg\" class=\"attachment-large size-large wp-image-1746\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/11.jpg 890w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/11-300x157.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/11-768x401.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-42dceb33 elementor-align-left elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"42dceb33\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/tradingeconomics.com\/united-states\/government-debt-to-gdp\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">https:\/\/tradingeconomics.com\/united-states\/government-debt-to-gdp<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-23d17ec6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"23d17ec6\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-d3d9d60\" data-id=\"d3d9d60\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-49ff8edf elementor-widget elementor-widget-text-editor\" data-id=\"49ff8edf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Hist\u00f3ricamente, cuando la deuda soberana como porcentaje del PIB alcanza m\u00e1s del 100% &#8211; especialmente si se combina con un d\u00e9ficit estructural &#8211; es improbable que los bonos del Estado se devuelvan en t\u00e9rminos de pleno poder adquisitivo.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">En otras palabras, cuando la deuda est\u00e1 denominada en su propia moneda, los gobiernos prefieren la devaluaci\u00f3n monetaria al impago nominal.\u00a0<\/span><\/p><p><b>Al fin y al cabo, el pago se realiza a trav\u00e9s de la inflaci\u00f3n monetaria (devaluaci\u00f3n*).\u00a0\u00a0<\/b><\/p><p><span style=\"font-weight: 400;\">*el pago encubierto de la deuda que se produce cuando los gobiernos inflan su moneda imprimiendo dinero.<\/span><\/p><p><span style=\"font-weight: 400;\">Me explico:<\/span><\/p><p><span style=\"font-weight: 400;\">Los impuestos son una forma visible de que los gobiernos tomen dinero de los ciudadanos para pagar sus deudas. Pero los impuestos son impopulares y dif\u00edciles de aprobar por el Congreso.\u00a0<\/span><\/p><p><b>La inflaci\u00f3n funciona mucho mejor.\u00a0<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7ae308e1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ae308e1\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-75ed3606\" data-id=\"75ed3606\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-48aeb274 elementor-widget elementor-widget-image\" data-id=\"48aeb274\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/12-1024x683.jpg\" class=\"attachment-large size-large wp-image-1750\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/12-1024x683.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/12-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/12-768x512.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/12-1536x1024.jpg 1536w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/12-2048x1365.jpg 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1f4b00c\" data-id=\"1f4b00c\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-320d4995 elementor-widget elementor-widget-text-editor\" data-id=\"320d4995\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Reduce tus ingresos reales porque los d\u00f3lares que ganas valen menos. Y reduce la deuda de los gobiernos porque generan ingresos fiscales inflados. As\u00ed que la inflaci\u00f3n funciona de la misma manera que un aumento de impuestos, excepto que no puedes verla y el Congreso no tiene que mover un dedo para crearla.<\/span><\/p><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-57f1ef1d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"57f1ef1d\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-1f8c31ce\" data-id=\"1f8c31ce\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-538867d8 elementor-widget elementor-widget-text-editor\" data-id=\"538867d8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Si el banco central mantiene esto el tiempo suficiente, el valor actual de la deuda se reducir\u00e1 en relaci\u00f3n con el PIB porque los salarios y los beneficios se obtienen en d\u00f3lares inflados. Del mismo modo que se recaudar\u00e1n impuestos sobre esos ingresos inflados, aumentando los ingresos fiscales del gobierno. Este es un m\u00e9todo probado y comprobado por gobiernos de todo el mundo y con el tiempo sirve para reducir su carga de deuda.<\/span><\/p><p><span style=\"font-weight: 400;\">En otras palabras, el intento de la Reserva Federal de endurecer la pol\u00edtica monetaria, aunque admirable, se est\u00e1 topando con un tren de mercanc\u00edas ingobernable: el servicio de la deuda.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-68087053 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"68087053\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7e68093b\" data-id=\"7e68093b\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-57a70d06 elementor-widget elementor-widget-text-editor\" data-id=\"57a70d06\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">En mi opini\u00f3n, el \u00abfinal del juego\u00bb para la deuda estadounidense a largo plazo pasa inevitablemente por la inflaci\u00f3n persistente y la degradaci\u00f3n monetaria. Es decir, los ahorradores y tenedores de bonos, de un modo u otro, no recuperan todo su poder adquisitivo.<\/span><\/p><p><span style=\"font-weight: 400;\">Insight: <\/span><b>Hist\u00f3ricamente, el sector inmobiliario es una importante fuente de protecci\u00f3n contra la devaluaci\u00f3n de la moneda.<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6efc3c61\" data-id=\"6efc3c61\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4bc8ac7 elementor-widget elementor-widget-image\" data-id=\"4bc8ac7\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"506\" height=\"338\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/13.jpg\" class=\"attachment-large size-large wp-image-1755\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/13.jpg 506w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/13-300x200.jpg 300w\" sizes=\"(max-width: 506px) 100vw, 506px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-259c3cb0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"259c3cb0\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7dcbe94d\" data-id=\"7dcbe94d\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-16f8166e bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"16f8166e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">INFLACI\u00d3N Y FED\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c15fa89 elementor-widget elementor-widget-text-editor\" data-id=\"1c15fa89\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>El endurecimiento de la pol\u00edtica monetaria de la FED tiene varios efectos antiinflacionarios<\/b><span style=\"font-weight: 400;\">. Las industrias sensibles a los tipos de inter\u00e9s m\u00e1s altos (por ejemplo, la inmobiliaria y la tecnol\u00f3gica) experimentan r\u00e1pidamente fuertes recesiones con descenso del empleo y de los precios.<\/span><\/p><p><span style=\"font-weight: 400;\">El pasado mi\u00e9rcoles (03\/05) la FED subi\u00f3 su tipo de inter\u00e9s b\u00e1sico por d\u00e9cima vez consecutiva y \u00abcasualmente\u00bb la tasa de inflaci\u00f3n anual en EE.UU. se ralentiz\u00f3 por noveno mes consecutivo (im\u00e1genes superiores).<\/span><\/p><p><span style=\"font-weight: 400;\">Dejando a un lado las iron\u00edas, lo cierto es que, aunque el endurecimiento de la pol\u00edtica monetaria tenga cierto efecto retardado, su correlaci\u00f3n con las ca\u00eddas de las tasas de inflaci\u00f3n es bastante relevante.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6335c504\" data-id=\"6335c504\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1050d89a elementor-widget elementor-widget-image\" data-id=\"1050d89a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"423\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/14.jpg\" class=\"attachment-large size-large wp-image-1759\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/14.jpg 890w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/14-300x159.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/14-768x406.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-55092bab elementor-widget elementor-widget-image\" data-id=\"55092bab\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"420\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/15.jpg\" class=\"attachment-large size-large wp-image-1761\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/15.jpg 890w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/15-300x157.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/15-768x403.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-6d2895cf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6d2895cf\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-15a97613\" data-id=\"15a97613\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5cfddae7 elementor-widget elementor-widget-text-editor\" data-id=\"5cfddae7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Pero, \u00bfy si dejan de subir los tipos de inter\u00e9s? \u00bfRegresar\u00e1 la inflaci\u00f3n?<\/span><\/p><p><span style=\"font-weight: 400;\">Yo creo que s\u00ed.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Mi hip\u00f3tesis b\u00e1sica es que la escasez de materias primas y los d\u00e9ficits fiscales estructurales, que siguen sin resolverse, generar\u00e1n probablemente nuevas oleadas de inflaci\u00f3n.<\/span><\/p><p><span style=\"font-weight: 400;\">Considero m\u00ednima la posibilidad de que la FED recorte los tipos de inter\u00e9s este a\u00f1o, pero no descarto en absoluto que esta 10\uf0b0 subida consecutiva sea la \u00faltima.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7b2a8e63 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7b2a8e63\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-f5f3f01\" data-id=\"f5f3f01\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1d735f96 elementor-widget elementor-widget-image\" data-id=\"1d735f96\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1334\" height=\"839\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/16a-1.png\" class=\"attachment-2048x2048 size-2048x2048 wp-image-1764\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/16a-1.png 1334w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/16a-1-300x189.png 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/16a-1-1024x644.png 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/16a-1-768x483.png 768w\" sizes=\"(max-width: 1334px) 100vw, 1334px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-60187401\" data-id=\"60187401\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2134ba81 bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"2134ba81\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">D\u00d3LAR<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-683dd726 elementor-widget elementor-widget-text-editor\" data-id=\"683dd726\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Desde finales de septiembre de 2022, el \u00edndice del d\u00f3lar DXY (que mide el d\u00f3lar frente a una cesta de divisas importantes, y principalmente el euro y el yen) ha ca\u00eddo bruscamente.<\/span><\/p><p><span style=\"font-weight: 400;\">Sin embargo, yo interpreto el movimiento m\u00e1s como una \u00abfortaleza del euro\u00bb que exactamente como una \u00abdebilidad del d\u00f3lar\u00bb.\u00a0 B\u00e1sicamente mientras uno sub\u00eda el otro bajaba y viceversa, as\u00ed que vamos a ver:<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1fb3294c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1fb3294c\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-3bc3be87\" data-id=\"3bc3be87\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-520939ff elementor-widget elementor-widget-image\" data-id=\"520939ff\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"795\" height=\"562\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/17.jpg\" class=\"attachment-full size-full wp-image-1771\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/17.jpg 795w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/17-300x212.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/17-768x543.jpg 768w\" sizes=\"(max-width: 795px) 100vw, 795px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-710dea12 elementor-align-center elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"710dea12\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/tradingeconomics.com\/united-states\/currency\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">https:\/\/tradingeconomics.com\/united-states\/currency<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1a0b15fc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1a0b15fc\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-284335dc\" data-id=\"284335dc\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2575aae0 elementor-widget elementor-widget-image\" data-id=\"2575aae0\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"553\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/18.jpg\" class=\"attachment-large size-large wp-image-1775\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/18.jpg 827w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/18-300x207.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/18-768x531.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4a7d1f34 elementor-align-left elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"4a7d1f34\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/tradingeconomics.com\/euro-area\/currency\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">https:\/\/tradingeconomics.com\/euro-area\/currency<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6f9bb6d6\" data-id=\"6f9bb6d6\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-29189ebd elementor-widget elementor-widget-text-editor\" data-id=\"29189ebd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Europa (y en consecuencia el euro) se han beneficiado enormemente de un invierno mucho menos duro de lo previsto.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Adem\u00e1s de eliminar el riesgo de escasez de gas natural, la combinaci\u00f3n de la ca\u00edda de los precios de las materias primas y la subida de los tipos de inter\u00e9s, dio un enorme impulso a la moneda.<\/span><\/p><p><span style=\"font-weight: 400;\">A pesar de la tendencia bajista del d\u00f3lar, a estos niveles de precios, considero que la asimetr\u00eda es bastante positiva. A medio y largo plazo, sigo siendo optimista con la divisa estadounidense.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-36cd6392 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"36cd6392\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-28204028\" data-id=\"28204028\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c21ed61 bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"c21ed61\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">ORO<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4534dc4d elementor-widget elementor-widget-text-editor\" data-id=\"4534dc4d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">El oro ha estado probando sus m\u00e1ximos hist\u00f3ricos de 2020, aunque a\u00fan tiene que romper de manera decisiva, lo que yo definir\u00eda como estabilizarse firmemente por encima de los 2.100 d\u00f3lares la onza.<\/span><\/p><p><span style=\"font-weight: 400;\">La tendencia de los precios combinada con factores macroecon\u00f3micos me lleva a creer que 2023 tiene muchas posibilidades de ser un gran a\u00f1o para el metal.<\/span><\/p><p><span style=\"font-weight: 400;\">La crisis bancaria, las importantes compras por parte de bancos centrales extranjeros (en lugar del Tesoro estadounidense) y los insostenibles d\u00e9ficits fiscales apoyan el precio del oro de cara al futuro.<\/span><\/p><p><b>Es importante subrayar que el oro es una mercanc\u00eda considerada como dep\u00f3sito de valor y, por tanto, a veces no funciona como hedge de la inflaci\u00f3n. Las dem\u00e1s materias primas son hedges de la inflaci\u00f3n, pero el oro depende mucho de las tasas de inter\u00e9s reales.\u00a0\u00a0<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1791421b\" data-id=\"1791421b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5ef0e2df elementor-widget elementor-widget-image\" data-id=\"5ef0e2df\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"647\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/19.jpg\" class=\"attachment-large size-large wp-image-1781\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/19.jpg 937w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/19-300x243.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/19-768x621.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">*US$ 2.022,90 em 07\/05\/2023.<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-223e72b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"223e72b\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-66c30b27\" data-id=\"66c30b27\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d82336d elementor-widget elementor-widget-image\" data-id=\"d82336d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"538\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/20-e-1-1-1024x688.png\" class=\"attachment-large size-large wp-image-1783\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/20-e-1-1-1024x688.png 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/20-e-1-1-300x202.png 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/20-e-1-1-768x516.png 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/20-e-1-1.png 1042w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4cad1fbb\" data-id=\"4cad1fbb\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-699bf26c elementor-widget elementor-widget-text-editor\" data-id=\"699bf26c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><i><span style=\"font-weight: 400;\">Las tasas de inter\u00e9s reales negativas favorecen al oro.\u00a0\u00a0<\/span><\/i><\/p><p><span style=\"font-weight: 400;\">Lo curioso es que estamos en un entorno de tipos de inter\u00e9s reales muy positivos y aun as\u00ed el metal amarillo est\u00e1 rindiendo muy bien. Esta divergencia de precios nos est\u00e1 diciendo algo. La pregunta es: \u00bfqu\u00e9?<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-6cb5222d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6cb5222d\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-2e6fa032\" data-id=\"2e6fa032\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-270573cf bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"270573cf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Mercado financeiro<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-67f33df2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"67f33df2\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-12f2f51d\" data-id=\"12f2f51d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6885ea04 elementor-widget elementor-widget-image\" data-id=\"6885ea04\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"621\" height=\"400\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/21.jpg\" class=\"attachment-2048x2048 size-2048x2048 wp-image-1787\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/21.jpg 621w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/21-300x193.jpg 300w\" sizes=\"(max-width: 621px) 100vw, 621px\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">*liquidez mundial en anaranjado<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-365342f8\" data-id=\"365342f8\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2856a5bc bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"2856a5bc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Liquidez Global\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ac909cf elementor-widget elementor-widget-text-editor\" data-id=\"3ac909cf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">La liquidez sigue siendo uno de los principales motores de los mercados. Yo dir\u00eda que el mayor.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Michael Howell, de CrossBorder Capital, especializado en an\u00e1lisis de liquidez, public\u00f3 el otro d\u00eda un magn\u00edfico gr\u00e1fico de la liquidez mundial. <\/span><b>Ha ido subiendo desde sus m\u00ednimos, pero sigue en un nivel bajo:<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-570b2b9b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"570b2b9b\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-1b63a9c\" data-id=\"1b63a9c\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-10a0b873 elementor-widget elementor-widget-text-editor\" data-id=\"10a0b873\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Lo m\u00e1s probable es que un tema recurrente en los pr\u00f3ximos a\u00f1os para los bancos centrales de los mercados desarrollados sea la idea de proporcionar liquidez al gobierno al tiempo que intentan restringir la liquidez del sector privado, porque necesitan mantener funcionales los mercados de bonos soberanos pero quieren limitar el crecimiento total de los pr\u00e9stamos para mantener controlada la inflaci\u00f3n.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">De ser as\u00ed, esto ser\u00eda diferente del enfoque de la d\u00e9cada de 2010 de proporcionar liquidez generalizada y ser\u00eda, en cambio, una pol\u00edtica de liquidez m\u00e1s espec\u00edfica y restringida.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Bueno para el mercado de bonos y malo para el mercado de valores.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Verificar.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-79e5a357 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"79e5a357\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-e3abaa3\" data-id=\"e3abaa3\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4e39df74 bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"4e39df74\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">TEMPORADA DE RESULTADOS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-37751c2d elementor-widget elementor-widget-text-editor\" data-id=\"37751c2d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Varias empresas publicaron sus beneficios (o p\u00e9rdidas) del primer trimestre de 2023. En general, coincidieron con las bajas expectativas de los analistas.\u00a0<\/span><\/p><p><b>Es curioso c\u00f3mo unas previsiones profundamente pesimistas facilitan la vida a algunas empresas. Unos resultados notoriamente malos, pero ligeramente mejores de lo esperado, suenan a m\u00fasica cl\u00e1sica a los o\u00eddos de los inversores.\u00a0<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-983ff57\" data-id=\"983ff57\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5675a5bc elementor-widget elementor-widget-image\" data-id=\"5675a5bc\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"411\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/22.jpg\" class=\"attachment-large size-large wp-image-1794\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/22.jpg 890w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/22-300x154.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/22-768x394.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ab1c53d elementor-widget elementor-widget-text-editor\" data-id=\"5ab1c53d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">En resumen, a pesar de la excitaci\u00f3n de los mercados, soy pesimista sobre la bolsa estadounidense. Los signos de la econom\u00eda siguen apuntando a una recesi\u00f3n y no descartar\u00eda nuevas ca\u00eddas este a\u00f1o.<\/span><\/p><p><span style=\"font-weight: 400;\">Sin embargo, una empresa me parece que tiene una asimetr\u00eda bastante favorable en la actualidad, el gigante Exxon Mobile (XOM)<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-22a9cc18 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"22a9cc18\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3b2463f3\" data-id=\"3b2463f3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-26de2d88 elementor-widget elementor-widget-image\" data-id=\"26de2d88\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"594\" height=\"392\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/23.jpg\" class=\"attachment-2048x2048 size-2048x2048 wp-image-1797\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/23.jpg 594w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/23-300x198.jpg 300w\" sizes=\"(max-width: 594px) 100vw, 594px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1b1bbc0a\" data-id=\"1b1bbc0a\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6fbcd2fc bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"6fbcd2fc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">EXXON MOBILE\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6a6bcee3 elementor-widget elementor-widget-text-editor\" data-id=\"6a6bcee3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Exxon Mobil Corp. tiene un excelente problema: <\/span><b>mucho dinero.<\/b><\/p><p><span style=\"font-weight: 400;\">Tras disfrutar del comienzo de a\u00f1o m\u00e1s rentable de su historia, termin\u00f3 el primer trimestre con 32.700 millones de d\u00f3lares en el banco.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-76926a32 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"76926a32\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-1bbc1db8\" data-id=\"1bbc1db8\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-20bf6dad elementor-widget elementor-widget-text-editor\" data-id=\"20bf6dad\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">En el primer trimestre de este a\u00f1o, gener\u00f3 16.300 millones de d\u00f3lares en efectivo de operaciones. Tras deducir 5.800 millones en proyectos y 8.100 millones en dividendos y recompras, consigui\u00f3 reducir ligeramente la deuda y ahorrar 3.000 millones.<\/span><\/p><p><span style=\"font-weight: 400;\">Como los costes de endeudamiento de la empresa son inferiores a los rendimientos de los bonos del Tesoro, ha utilizado una estrategia casi bancaria y ha ganado dinero con el arbitraje (diferencial).\u00a0\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Kathy Mikells, directora financiera de la empresa, parece disfrutar con este problema. Cuando se le pregunt\u00f3 si no era hora de romper el y hacer grandes adquisiciones, brome\u00f3 diciendo que la empresa estaba ganando mucho dinero con su efectivo.\u00a0<\/span><\/p><p><b>\u00abExxon paga alrededor de un 3% de media por su deuda, mientras que los tipos de inter\u00e9s a corto plazo en EE.UU. para el ahorro est\u00e1n actualmente por encima del 4%~.<\/b><\/p><p><span style=\"font-weight: 400;\">En lugar de precipitarse en adquisiciones o perforaciones r\u00e1pidas como hicieron en el ciclo anterior, los productores de petr\u00f3leo y gas est\u00e1n siendo mucho m\u00e1s conservadores, lo que probablemente seguir\u00e1 siendo as\u00ed hasta que los precios del petr\u00f3leo suban durante periodos prolongados.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">En general, el sector sigue bastante infravalorado y las acciones de Exxon (XOM) registran s\u00f3lo un ligero repunte en 2023.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3911510a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3911510a\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1ad225ad\" data-id=\"1ad225ad\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-e583be2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e583be2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-4e576d8c\" data-id=\"4e576d8c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4068f42f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4068f42f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-15b9bb09\" data-id=\"15b9bb09\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-38646e89 elementor-widget elementor-widget-heading\" data-id=\"38646e89\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Entretenimento<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-24e99be2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"24e99be2\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-41c78e43\" data-id=\"41c78e43\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4f5b9bdb elementor-widget elementor-widget-text-editor\" data-id=\"4f5b9bdb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Este mes la sesi\u00f3n de entretenimiento ser\u00e1 un poco diferente. En lugar de indicaciones, destacar\u00e9 algunas curiosidades y datos interesantes que he aprendido en las \u00faltimas semanas de art\u00edculos y podcasts internacionales.\u00a0\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-5c5746e6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5c5746e6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-5516b8b7\" data-id=\"5516b8b7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-29eae7b9 elementor-widget elementor-widget-heading\" data-id=\"29eae7b9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">COSAS QUE APRENDI:\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7ff63d3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ff63d3\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-790d7f7a\" data-id=\"790d7f7a\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4978767b elementor-widget elementor-widget-text-editor\" data-id=\"4978767b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h3>La soledad es una gran epidemia.<\/h3><p><span style=\"font-weight: 400;\">En 2022, el Pew Research Center descubri\u00f3 que el 30% de los adultos estadounidenses no est\u00e1n casados, viven en pareja o mantienen una relaci\u00f3n seria.<\/span><\/p><p><span style=\"font-weight: 400;\">Casi la mitad de los adultos menores de 30 a\u00f1os est\u00e1n solteros: el 34% de las mujeres y un asombroso 63% de los hombres.<\/span><\/p><p><span style=\"font-weight: 400;\">Los hombres de 20 a\u00f1os son m\u00e1s propensos que las mujeres de 20 a\u00f1os a no tener una relaci\u00f3n rom\u00e1ntica, a ser sexualmente inactivos, a no tener amigos y a sentirse solos.<\/span><\/p><p><span style=\"font-weight: 400;\">S\u00f3lo la mitad de los hombres solteros buscan activamente relaciones o incluso encuentros casuales.<\/span><\/p><p><span style=\"font-weight: 400;\">El 50% de los hombres solteros dicen que est\u00e1n buscando una relaci\u00f3n rom\u00e1ntica seria y\/o encuentros casuales. Era el 61% en 2019.<\/span><\/p><p><span style=\"font-weight: 400;\">El 35% de las mujeres afirmaron esto en 2022, frente al 38% en 2019.<\/span><\/p><p><span style=\"font-weight: 400;\">Hace treinta a\u00f1os, el 55% de los hombres declaraba tener seis o m\u00e1s amigos \u00edntimos; en 2021, ese porcentaje se redujo al 27%.<\/span><\/p><p><span style=\"font-weight: 400;\">El 15% de los hombres declar\u00f3 no tener amistades \u00edntimas, un aumento de cinco veces desde 1990, seg\u00fan la investigaci\u00f3n del Survey Center on American Life.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-154ae232 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"154ae232\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-6815c214\" data-id=\"6815c214\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4bc0bd1c elementor-widget elementor-widget-heading\" data-id=\"4bc0bd1c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">AMIGOS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-a593874 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a593874\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2e6f033c\" data-id=\"2e6f033c\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-70ba58b8 elementor-widget elementor-widget-image\" data-id=\"70ba58b8\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"386\" height=\"243\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/24.jpg\" class=\"attachment-full size-full wp-image-1813\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/24.jpg 386w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/05\/24-300x189.jpg 300w\" sizes=\"(max-width: 386px) 100vw, 386px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2238d2be\" data-id=\"2238d2be\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3645e3fd elementor-widget elementor-widget-text-editor\" data-id=\"3645e3fd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h3>Los amigos son buenos para la salud:<\/h3><p><span style=\"font-weight: 400;\">En caso de que pensaras que no es una gran preocupaci\u00f3n porque eres un lobo solitario que no necesita a nadie a su alrededor.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Sepa que: \u00abCon mucho, la mayor sorpresa m\u00e9dica de la \u00faltima d\u00e9cada ha sido el extraordinario n\u00famero de estudios que demuestran que el mayor predictor de su salud y bienestar psicol\u00f3gico y f\u00edsico es simplemente el n\u00famero y la calidad de las amistades \u00edntimas que tiene.<\/span><\/p><p><span style=\"font-weight: 400;\">En comparaci\u00f3n, todos los factores tradicionales por los que suele preocuparse el m\u00e9dico s\u00f3lo contribuyen modestamente\u00bb. -Robin Dunbar<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-e965acf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e965acf\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-20488708\" data-id=\"20488708\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-601f7fbf elementor-widget elementor-widget-spacer\" data-id=\"601f7fbf\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-column .elementor-spacer-inner{height:var(--spacer-size)}.e-con{--container-widget-width:100%}.e-con-inner>.elementor-widget-spacer,.e-con>.elementor-widget-spacer{width:var(--container-widget-width,var(--spacer-size));--align-self:var(--container-widget-align-self,initial);--flex-shrink:0}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container,.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer,.e-con>.elementor-widget-spacer>.elementor-widget-container,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer{height:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner{height:var(--container-widget-height,var(--spacer-size))}<\/style>\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7b4df4b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7b4df4b\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8856019\" data-id=\"8856019\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-0a6fcff elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0a6fcff\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-8248080\" data-id=\"8248080\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c363f69 elementor-widget elementor-widget-heading\" data-id=\"c363f69\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Le deseo lo mejor,\n\n\nGustavo Rigon <br>\n\nMayo 2023\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f5c65cf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f5c65cf\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e37594b\" data-id=\"e37594b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-453b80a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"453b80a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3c6c373\" data-id=\"3c6c373\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ae5273a elementor-widget elementor-widget-image\" data-id=\"ae5273a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2024\/12\/placeholder-75-1024x683.png\" class=\"attachment-large size-large wp-image-4330\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2024\/12\/placeholder-75-1024x683.png 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2024\/12\/placeholder-75-300x200.png 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2024\/12\/placeholder-75-768x512.png 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2024\/12\/placeholder-75.png 1200w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-e50160e\" data-id=\"e50160e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-d4b1fb3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d4b1fb3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-d11793c\" data-id=\"d11793c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-835cc30 elementor-widget elementor-widget-heading\" data-id=\"835cc30\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Contacto<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-48a3ea3 elementor-align-left elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"48a3ea3\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-map-marker-alt\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Av. Mauro Ramos, 1512 - Centro, Florian\u00f3polis - SC, 88020-302, Brasil<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/latamdesk@activtrades.com\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-envelope\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">latamdesk@activtrades.com<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-c32c7e1\" data-id=\"c32c7e1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-75afcbf elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-heading\" data-id=\"75afcbf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Links \u00fateis<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0b29d37 elementor-align-left elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"0b29d37\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/activtrades.com.br\/go\/governanca\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Governan\u00e7a<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/activtrades.com.br\/go\/ouvidoria\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Ouvidoria<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/activtrades.com.br\/go\/canal-de-denuncias\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Canal de Den\u00fancias<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-81738bf\" data-id=\"81738bf\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-35769f7 elementor-widget elementor-widget-heading\" data-id=\"35769f7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">S\u00edguenos en<br>\n<b>Redes Sociales<\/b><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aa9a503 e-grid-align-left elementor-shape-rounded elementor-grid-0 elementor-widget elementor-widget-social-icons\" data-id=\"aa9a503\" data-element_type=\"widget\" data-widget_type=\"social-icons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-widget-social-icons.elementor-grid-0 .elementor-widget-container,.elementor-widget-social-icons.elementor-grid-mobile-0 .elementor-widget-container,.elementor-widget-social-icons.elementor-grid-tablet-0 .elementor-widget-container{line-height:1;font-size:0}.elementor-widget-social-icons:not(.elementor-grid-0):not(.elementor-grid-tablet-0):not(.elementor-grid-mobile-0) .elementor-grid{display:inline-grid}.elementor-widget-social-icons .elementor-grid{grid-column-gap:var(--grid-column-gap,5px);grid-row-gap:var(--grid-row-gap,5px);grid-template-columns:var(--grid-template-columns);justify-content:var(--justify-content,center);justify-items:var(--justify-content,center)}.elementor-icon.elementor-social-icon{font-size:var(--icon-size,25px);line-height:var(--icon-size,25px);width:calc(var(--icon-size, 25px) + (2 * var(--icon-padding, .5em)));height:calc(var(--icon-size, 25px) + (2 * var(--icon-padding, .5em)))}.elementor-social-icon{--e-social-icon-icon-color:#fff;display:inline-flex;background-color:#69727d;align-items:center;justify-content:center;text-align:center;cursor:pointer}.elementor-social-icon i{color:var(--e-social-icon-icon-color)}.elementor-social-icon svg{fill:var(--e-social-icon-icon-color)}.elementor-social-icon:last-child{margin:0}.elementor-social-icon:hover{opacity:.9;color:#fff}.elementor-social-icon-android{background-color:#a4c639}.elementor-social-icon-apple{background-color:#999}.elementor-social-icon-behance{background-color:#1769ff}.elementor-social-icon-bitbucket{background-color:#205081}.elementor-social-icon-codepen{background-color:#000}.elementor-social-icon-delicious{background-color:#39f}.elementor-social-icon-deviantart{background-color:#05cc47}.elementor-social-icon-digg{background-color:#005be2}.elementor-social-icon-dribbble{background-color:#ea4c89}.elementor-social-icon-elementor{background-color:#d30c5c}.elementor-social-icon-envelope{background-color:#ea4335}.elementor-social-icon-facebook,.elementor-social-icon-facebook-f{background-color:#3b5998}.elementor-social-icon-flickr{background-color:#0063dc}.elementor-social-icon-foursquare{background-color:#2d5be3}.elementor-social-icon-free-code-camp,.elementor-social-icon-freecodecamp{background-color:#006400}.elementor-social-icon-github{background-color:#333}.elementor-social-icon-gitlab{background-color:#e24329}.elementor-social-icon-globe{background-color:#69727d}.elementor-social-icon-google-plus,.elementor-social-icon-google-plus-g{background-color:#dd4b39}.elementor-social-icon-houzz{background-color:#7ac142}.elementor-social-icon-instagram{background-color:#262626}.elementor-social-icon-jsfiddle{background-color:#487aa2}.elementor-social-icon-link{background-color:#818a91}.elementor-social-icon-linkedin,.elementor-social-icon-linkedin-in{background-color:#0077b5}.elementor-social-icon-medium{background-color:#00ab6b}.elementor-social-icon-meetup{background-color:#ec1c40}.elementor-social-icon-mixcloud{background-color:#273a4b}.elementor-social-icon-odnoklassniki{background-color:#f4731c}.elementor-social-icon-pinterest{background-color:#bd081c}.elementor-social-icon-product-hunt{background-color:#da552f}.elementor-social-icon-reddit{background-color:#ff4500}.elementor-social-icon-rss{background-color:#f26522}.elementor-social-icon-shopping-cart{background-color:#4caf50}.elementor-social-icon-skype{background-color:#00aff0}.elementor-social-icon-slideshare{background-color:#0077b5}.elementor-social-icon-snapchat{background-color:#fffc00}.elementor-social-icon-soundcloud{background-color:#f80}.elementor-social-icon-spotify{background-color:#2ebd59}.elementor-social-icon-stack-overflow{background-color:#fe7a15}.elementor-social-icon-steam{background-color:#00adee}.elementor-social-icon-stumbleupon{background-color:#eb4924}.elementor-social-icon-telegram{background-color:#2ca5e0}.elementor-social-icon-thumb-tack{background-color:#1aa1d8}.elementor-social-icon-tripadvisor{background-color:#589442}.elementor-social-icon-tumblr{background-color:#35465c}.elementor-social-icon-twitch{background-color:#6441a5}.elementor-social-icon-twitter{background-color:#1da1f2}.elementor-social-icon-viber{background-color:#665cac}.elementor-social-icon-vimeo{background-color:#1ab7ea}.elementor-social-icon-vk{background-color:#45668e}.elementor-social-icon-weibo{background-color:#dd2430}.elementor-social-icon-weixin{background-color:#31a918}.elementor-social-icon-whatsapp{background-color:#25d366}.elementor-social-icon-wordpress{background-color:#21759b}.elementor-social-icon-xing{background-color:#026466}.elementor-social-icon-yelp{background-color:#af0606}.elementor-social-icon-youtube{background-color:#cd201f}.elementor-social-icon-500px{background-color:#0099e5}.elementor-shape-rounded .elementor-icon.elementor-social-icon{border-radius:10%}.elementor-shape-circle .elementor-icon.elementor-social-icon{border-radius:50%}<\/style>\t\t<div class=\"elementor-social-icons-wrapper elementor-grid\">\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-instagram elementor-repeater-item-b806270\" href=\"https:\/\/www.instagram.com\/activtrades_latinoamerica\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Instagram<\/span>\n\t\t\t\t\t\t<i class=\"fab fa-instagram\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-youtube elementor-repeater-item-2fe92a4\" href=\"https:\/\/www.youtube.com\/channel\/UCjofvoJzOvot6ZHst15GHUw\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Youtube<\/span>\n\t\t\t\t\t\t<i class=\"fab fa-youtube\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-facebook elementor-repeater-item-d6063c8\" href=\"https:\/\/m.facebook.com\/ActivTradesLA\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Facebook<\/span>\n\t\t\t\t\t\t<i class=\"fab fa-facebook\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-01a2b13 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"01a2b13\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-cc1b2ac\" data-id=\"cc1b2ac\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b3ca70f elementor-widget elementor-widget-text-editor\" data-id=\"b3ca70f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h5>Descargo de Responsabilidad<\/h5><p><br \/>ActivTrades Corp es una entidad debidamente registrada en la Mancomunidad de las Bahamas (\u201cBahamas\u201d) con el n\u00famero 199667(B), con domicilio social en 209 &amp; 210 Church Street, Standyport, P.O. Box SP 64388, Nassau, Bahamas, autorizado y regulado por la Securities Commission of the Bahamas (SCB), que es signataria del Memorando de Entendimiento Multilateral de la Organizaci\u00f3n de Comisiones de Valores (IOSCO). ActivTrades Corp es una subsidiaria de ActivTrades PLC, una entidad con sede en The Loom, Office 2.5, 14 Gower\u2019s Walk, Londres, Reino Unido \u2013 E1 8PY, autorizada y regulada por la Autoridad de Conducta Financiera (FCA) en el Reino Unido con el n\u00famero 43441.<\/p><p>Los productos ofrecidos por ActivTrades Corp son instrumentos complejos y conllevan un alto riesgo de perder capital r\u00e1pidamente debido al apalancamiento. La mayor\u00eda de los clientes minoristas pierden dinero cuando negocian derivados con ActivTrades Corp. Consulta en www.activtrades.com el porcentaje actualizado de clientes que pierden dinero con esta instituci\u00f3n al operar con Derivados. Debe considerar su grado de comprensi\u00f3n de c\u00f3mo funcionan los productos complejos y si puede arriesgarse a perder su inversi\u00f3n. El rendimiento pasado no garantiza resultados futuros. Las fluctuaciones de precios pueden ser particularmente fuertes en el caso de un activo con mayor volatilidad y el valor de una inversi\u00f3n puede caer repentina y sustancialmente.<\/p><p>Los activos financieros o inversiones presentados en esta plataforma pueden no ser adecuados para todos los inversores, ya que no tienen en cuenta los objetivos de inversi\u00f3n, la situaci\u00f3n financiera o las necesidades espec\u00edficas de cada inversor, considerando la pol\u00edtica de idoneidad. Los inversores deben obtener asesoramiento financiero independiente, en funci\u00f3n de sus caracter\u00edsticas personales, antes de tomar una decisi\u00f3n de inversi\u00f3n. Te recomendamos conocer las caracter\u00edsticas y riesgos de los mercados antes de emprender.<\/p><p>Toda comunicaci\u00f3n realizada a trav\u00e9s de la world wide web est\u00e1 sujeta a interrupciones o retrasos, que pueden impedir o perjudicar el env\u00edo o recepci\u00f3n de informaci\u00f3n actualizada. ActivTrades Corp, ActivTrades PLC y\/o cualquier otra afiliada no ser\u00e1n responsables de los datos sufridos por sus clientes como resultado de la falla de los servicios prestados por terceros.<\/p><p>ActivTrades no hace recomendaciones ni brinda asesoramiento sobre asuntos de inversi\u00f3n, financieros, legales o fiscales. La informaci\u00f3n contenida en este sitio web tiene \u00fanicamente fines informativos, no constituye ni debe interpretarse como un an\u00e1lisis, solicitud de compra o venta, oferta o recomendaci\u00f3n de cualquier activo financiero o inversi\u00f3n, asesoramiento legal o fiscal, sugerencia de asignaci\u00f3n o adopci\u00f3n de estrategias por parte de parte de ActivTrades.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-8e6ec5e elementor-widget elementor-widget-text-editor\" data-id=\"8e6ec5e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>S\u00e1bado, 13 de mayo de 2023\u200b Macro Journal ocurriendo ahora Pref\u00e1cio La secci\u00f3n Macro Geopol\u00edtica presenta un breve debate sobre la influencia china y rusa en \u00c1frica y Am\u00e9rica Latina.\u00a0 La secci\u00f3n Macroeconom\u00eda presenta una visi\u00f3n general de la inflaci\u00f3n, los tipos de inter\u00e9s, las divisas y un enfoque especial para los mercados en 2023. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_canvas","meta":{"inline_featured_image":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.9 (Yoast SEO v20.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Maio - Macro Jornal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/activtrades.lat\/macro-journal\/maio\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Maio\" \/>\n<meta property=\"og:description\" content=\"S\u00e1bado, 13 de mayo de 2023\u200b Macro Journal ocurriendo ahora Pref\u00e1cio La secci\u00f3n Macro Geopol\u00edtica presenta un breve debate sobre la influencia china y rusa en \u00c1frica y Am\u00e9rica Latina.\u00a0 La secci\u00f3n Macroeconom\u00eda presenta una visi\u00f3n general de la inflaci\u00f3n, los tipos de inter\u00e9s, las divisas y un enfoque especial para los mercados en 2023. 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