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First Egypt ... Now Spain?
Gerald Celente predicted in February that the Middle Eastern and North African protests would spread to Europe:
It is not solely the Middle East that is destined to experience episodes of violent upheaval. What is transpiring in the Arab world will spread throughout many European states. While the call to arms will be spoken in different tongues, the underlying causes will be the same.
In December 2010 (before Tunisia made the headlines) we issued a Trend Alert titled, “Off With Their Heads!” in which we predicted a “long war between the people and the ruling classes.” We noted that, “Anyone questioning the intensity of the people’s seething anger is either out of touch or in denial.”
It wasn’t Arab anger that led us to that forecast – it was the student and worker revolts spilling into the streets of Europe. The imposition of draconian austerity measures – higher taxes, tuition hikes, lost benefits, curtailed services, public sector job cuts – had young and old raging against a rigged system that paved the way for the privileged and punished the proles.
Though millions marched through the streets of Athens, Brussels, Dublin, Lisbon, London and Madrid, when the protests ended, the governments were barely shaken, let alone toppled. Unlike the autocratic Arab regimes, where the tight grip of repression could only be broken by violence, in the “democratic” West the illusion of representation and placating government promises mitigated the violence.
Both the press and politicians assumed the protests would run their course, people would accept their fate, and, like it or not, suffer the consequences. The protests, however, have not run their course. The economic toll of austerity and unemployment continues to ravage the lower and middle classes. As we wrote in the Winter 2011 Trends Journal, “It will only be a matter of time before a series of final-straw events breaks the public’s back, setting off uncontrollable uprisings, coups (bloodless and/or military), riots and revolts throughout the financially battered world.”
Indeed, the protests in Madrid, Spain are eerily similar - if smaller and shorter - to Tahir Square, Egypt:
As I wrote in December 2008:
Housing bubbles are now bursting in China, France, Spain, Ireland, the United Kingdom, Eastern Europe, and many other regions.
I noted in 2009:
Citigroup is projecting that unemployment in Spain will rise from its current 17.9% to 22% next year.
Spain's unemployment is largely driven by the bursting of its housing bubble.
I warned last year that - because the Spanish government had taken on the debt of its giant banks - it was in line as one of the dominoes to fall from the European debt crisis.
Instead of helping the Spanish people and small businesses, the government has bailed out its big banks and then implemented austerity measures to try to dig its way out of its fiscal hole.
That's why people are protesting.
As I wrote last November:
Niall Ferguson, Marc Faber, and SocGen's Edwards and Grice predicted 9 months ago that the European debt crisis would eventually spread to America.
But the question of what country the "contagion" might spread to next is really the wrong question altogether.
The real question is whether the wealth of the people around the world will continue to be shoveled into the bottomless pit of debts held by the big banks, or whether the people will prevail and the giant banks and bondholders will be forced to take a haircut. See this, this and this.
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That's a mighty big brain for such a small sized container.
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Naturally, it does depend on how many Chinese spies and plants have infiltrated, on the great migration into Vancouver.
the moment the US Central Gov't/Federal Reserve/State governments become unable to transfer trillion of dollars in food stamps, unemployment payments, payment to the unions, martgage subsidies and bank bailouts - much worse protests will happen in the USA. With one difference: unlike tead gas granades and rubber bullets used byt the MENA and European regiemes, this regime will use "live" ammunition and live grenades. The national Guard troops spent plenty of time in the "sandbox" are sufficiently disensitized to the use of live ammo on civilians, they won't take twice. And the Blackwater/mercenaries that undubtedly wil be hired by the Bankers for protections - well, they've never had problems shooting at civilians to begin with.
b_thunder,
Who do you think taught the military a large bulk of their skillsets?,markmanship skills,(clue)....... private citizens.
What army, and hired mercs can defeat 20-40+/- million armed to the teeth citizens?.(MANY of whom are Ex Mil/LE, and citizenry that is very proficient with weapons?).
The Mil & Ex Mil dudes I speak to, will not go against the people.(as you know, ALL soldiers/LE) will also be private citizens sooner or later.
I will say, that the SWHTF in a HUGE way if blue helmets show up,this is not just my opinion.
Bloodbath will be too small a word.
Nope. Never happen. This aint 1960, and this ain't Penn State. Those troops know the federal government took their retirement money too. The figures I saw last year were the fed debt was 27% social security, 6% fed retirement fund, and 3% military retirement fund. As things get worse, there aren't going to be any troops willing to kill Joe six pack for the bankers. That makes good script, but the American people have been squeezed slow enough, and their kids in the military have too, to know better. I'm not shooting at anyone, period.
1970? Kent State?
I also would like to add that the American military is staffed with the most honorable and patriotic people available. They are not stupid knucle draggers by any means. Their senior leaders are political whores, but when the rubber meets the road, those senior leaders will do the right thing or be faced with trying to control a force that has been taught their whole careers that the right thing is paramount over the obvious, even when the obvious is necessary. That has to cost the powers that be when they want to suddenly misuse our guys for the wrong thing.
I don't trust the executive, the legislative or the judiciary, because the Constitution of the United States of America has been largely ignored for decades, but I have a lot of faith in the military if it comes to End Game. They are the good guys. The military is just as political and crazy as the civilian government, but each and every one of them I have ever met has been pure gold. If it proves they are not, I will be broken, utterly broken and I will lose my will to live.
"This is nonsense. I am in Madrid and can tell you this is nothing like Egypt. This is peaceful democratic change and not a revolution."
How dare you, you who are there contradict 0-edgers who are in front of their computer? (yes I'm sarcastic)
Come on Gloomy, tell me you didn't cop a feel off the cute blonde reporter in the crowd
This is nonsense. I am in Madrid and can tell you this is nothing like Egypt. This is peaceful democratic change and not a revolution.
This is nonsense. I am in Madrid and can tell you this is nothing like Egypt. This is peaceful democratic change and not a revolution.
This is nonsense. I am in Madrid and can tell you this is nothing like Egypt. This is peaceful democratic change and not a revolution.
This is nonsense. I am in Madrid and can tell you this is nothing like Egypt. This is peaceful democratic change and not a revolution.
Whenever I hear the words "peaceful' and "Spain" together I am reminded of
1) 500 years of insurrections against the Romans
2) The muslim wars of the middle ages
3) Conquistadors
4) Spanish Armada
5) The Basque Revolutionary movement
6) Napoleon's ill-fated invasion
6) Franco, the Spanish Communists and the Spanish Civil War (is it over yet?)
7) The Madrid Train bombings.
Ireland is downright peaceful in comparison (yeah I know, the troubles and IRA and all that BS.)
Spain is a damn powder keg.
I would like to add that the anti-muslim rascism in Spain rivaled only by the French. Economic crises can often take turns no one envisions, with 'democratic institutions' often becoming the TARGET of rage rather than the diffusers of such.
You left out my favorite: The Inquisition
WHY is this so?.
We have better transportation, more technology (toys), and more interlocutors - but the Crusades are still going on.
Where is El Cid when you need him?
the anti-muslim rascism in Spain
I didn't know Muslims were a race.
What happens when you go to another country and refuse to follow their customs and laws? I read about a British couple that were jailed for making out on the beach in Dubai. Those Muslim racists were discriminating against Britons.
Pot kettle black ... something like that.
Excuse me, anti-arab anti-african anti-persian anti-asian racism
(That OK for your soft PC sensibilities?)
I did not condone the Muslim hatred, just point out that it exists. In know there are people who walk around with blinders on and believe it doesn't (maybe you?)
When in Rome, do as the Romans. Otherwise, don't expect to be treated like a Roman.
Muslims in Europe is the one story no one seems to want to talk about.
They don't play golf
At first I beleived you. After the third post, I bean to have my doubts. After the fifth post, I was pretty sure you were lying. The revolution in Spain must be getting really, really UGLY.
change you say?
what happens when people protest and their is no change?
The French Revolution Redux.
Gloomy, I hope it stays that way. The last thing this world needs is another usless [violent] uprising. I know most don't understand why they're even there as I know it's mostly college kids etc. If you're in college, you belong in class, not protesting the government...
We need more sheep to rise up, the reason they are protesting is because they have no fucking jobs or hope for the future and guess what has caused that, global financial meltdown.
Junked for copious orthodoxy maximus.
This is the 'international labor arbitrage' that the Oligarchy has imposed world wide. All developed countries are now going to feel the pinch. It doesn't matter who goes down first; they all will and its planned. It's the end of the nation state economy. Every body now recognizes they have to plan socio-economic-ecological-commodity supply base on Continental level, as energy costs soar and food shortages appear, and globalization goes through a phase of regional re-structuring. Painful but necessary. We are all in for a very rough ride. Fasten seat belts!
It's the end of the nation state economy.
I doubt that, but it is the end of the free German credit card for those European countries that have a paucity of the work ethic.
+ a friggin quazillion.
it's on the horizon, and it aint gonna be pretty
I don't see why Germany wants to be a part of the Euro any longer. Greece and Spain and all the PIIGS have Germany by the nuts. If they decide to simply leave and create their own currency, what can Germany really do? Start a war? Sue them? And if they do end up leaving to go back on their own currency, it will just encourage other deadbeat countries to run up bills they can't/won't pay, since there is no penalty. But in reality there is no penalty for the PIIGS anyway, because they already have run up massive debts they can't pay without a bailout. And Germany is stuck in the middle of all this nonsense, diverting assets and resources to the problem instead of growing their own economy. What is Germany gaining by being in the EU?
Went up against some gerry bastard comapnies when consulting on components for de-sal plants back in late 90's, their "envelopes" were bigger than ours, that's efficiency.
The German export economy appreciates the downward pressure on the Euro applied by the insolvent fringe.
They don't want to be a part of the Euro.
However, you are forgetting the basics: you are talking about an advanced democratic country, where people have no voice.
A+
financially speaking it doesn't; commercially speaking with 60% of its export sales in EU it does!
So Europe is going to buy cherys instead of Beamers. NFW.
Don't worry.
Eurogruppenchef Jean-Claude Juncker will manage this.
Oh good! Now I feel better. Hey, there is an unicorn! And elves...and...Stalin?!
And Zero Hedge predicted it in January.
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