Every sentient person anticipated
the Spanish Disposition (and how it would suck):
More than six million Spaniards were out of work in the first quarter
of this year, raising the jobless rate in the euro zone's fourth
biggest economy to 27.2 percent, the highest since records began in the
1970s.
The huge sums poured into the global financial system by major
central banks have eased bond market pressure on Spain, but the cuts
Madrid has made in spending to regain investors' confidence have left it
deep in recession.
Rising Hegemon
4 comments:
27% unemployment makes them 'deep in recession'?
If that ain't a depression, nothing is.
workers of the world, unite!
Not to mention that Spain and other countries are being forced to sell off public services--often at fire-sale prices--that have taken decades of public investment to build and maintain. Which might be the key reason for creating the crunch in the first place.
The banks and the big multinationals do want to run the world, and they've found the way to do it--make governments irrelevant.
vbutbutbut bankers + investers are ok.
here at home, who needs FLOOD WARNING???
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