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Always trust the government's figures.
Damn Spanish Socialists
Hang the Bourbons!!!!!!
No, no -- this isn't socialism. It's game theory.
The first conspirator to defect from the cartel always get the biggest reward.
This can happen more easily than some here think because the guy was using one of those scientific calculators, and those things are confusing as hell with all the extra buttons.
Send don quixote (joe lavorgna) in there quick!
So does this mean Spain Greeced the Yids?
More than expected!
Oops. Minor oversight.
But, Double / Triple / Quadruple.... does it matter?
The number of broken legs on a lame horse is irrelevant.
This would never happen here in the US (because here they don't even bother to come up with a budget)...
"The number of broken legs on a lame horse is irrelevant."
That one is going on my list.
Mama Mia!!! Oops. Wrong Piig.
HAHAHAHAHAHA........Did I say that the end is near!!?? HAHAHA.......
Is this what they mean by "Running of the Bulls"?
"Castile-La Mancha generates a GDP of €33,077,484,000, 3.4 percent of the Spanish GDP" -Wikipedia
Running of the Bullshit! http://www.youtube.com/watch?v=GPfI9oxZuEo
(Domino scene from V)
Everything is bullshit. My Verizon FIOS bill is tricks and bullshit. My cell phone bill is indecipherable bullshit. My health insurance is more confusing bullshit. My house equity was obvious bullshit. My 401k and retirement account is super bullshit right about now. Am I missing anything?
A system awash in debt at all levels. One that requires infinite credit growth. Mathmatically destined for failure.
That just soured the La Pandorga festival....
her life insurance carrier just dropped her due to associated risk.
We are all good Europeans here in Ireland, we will pay our debts no matter what pain it brings. First Europe, second Ireland for I am a true Europhile... :|
This is going to be neat!
Well I'm SURE theyve learned their lesson THIS time! Now go eat your peas!
Government being government.
Anyone remember Catalonia? Economy of the size of Portugal. All the news has been shrugged off by the group thinking bus full of pundits and bankers but maybe this time it will come back to bite their arses off.
First, they missed last years target:
Second, they will miss this years target:
"GDP of Catalonia was €216.9 billion, the highest in Spain"
Now this is starting to get interesting. Check out FAZ. And C going back to 5...:). No position.
Yeah, but then there's the volume. POMO may be dead but the plunge protection team now owns most of the remaining equity positions (only half kidding).
Deficit bigger than Spain imagined? Who saw that coming? Muy bien, they're just like Obama!
Who knew that wasting $3 Trillion putting street cred on Obama's marxist posing would leave him a gaping budget hole the size of the Grand Canyon?
Obama's big vision was to copy Spain's miserably failed socialista green jobs march into insolvency. Mission accomplished Presidente Obama! Hide the decline and hide the deficits while you're at it.
Spanish "progress": Bankruptcy with the unemployment already at 22%.
Quick... Send FLOTUS and her merry band of french fry eating fatties on another trip to Alhambra...
LOL! eh; stop, you;'re cracking me up. Seriously (?), Spain has a housing over-build, over hang, that represents a fully developed human speculative frenzy; like tulipmania. Spain had a budget surplus in 2007, (fiscal), of 2%. This was entirely due to waterfalls of currency pouring into the country from banks all over the map to finance the frantic made construction of everything everywhere, and then a couple of more, just for good measure. By 2008 they were back to a normal -14% defecit. The Banks turned off the let's build something theme; and all the immigrant construction workers from all over easter Europe went home; and what's left is a big bubble gum bubble with no obvious means of support. Spain has a long tragic history; but the Euro is going to have a mercifully short tragic history.
You mean they tell the truth about unemployment in Spain? Because 22% is about the real # for USA....which, by this time next year, will seem like prosperity.
Is this starting to smell like July 2008... when only a couple of hundred people across the globe started to pick up on the fact that something wasn't right....?
Pre 2008, the world worked great... now it looks like everything is starting to really, really come apart.
Kind of reminds me of Rumsfeld anouncing 2.3 trillion is missing. A little terror or cyber attack would help all this be forgotten.
This likely won't be the only example of a new government taking over and finding the previous admin has not been forthcoming with financials.
that is my dream, that is my quest
to double, the undoubleable double down!
toooooo reaaaachh the unnnnnnn reeeaaacchhaaaable drrrrrrrrrrreeeaaam
Maybe a third round of stress tests will do the trick....but they have to read the instructions properly.
I wonder how long it will be until we start "discovering" how many municipalities and counties lied about their numbers.
Spain keepin' its own golf card, eh?
The brilliant Edward Hugh has been covering the "hidden" debt in Spanish regions for a long time. Frankly, these revisions should come as no surprise.
Stess tests, we need more stress tests...
They'd better keep a close eye on all the Germans washing up on Ibizia...
They may mean business this time...
spooky action at a distance...................
Tyler I sent you something exactly like this post about the city of Sevilla one month and a half ago.
and California has missed its income projections the last two months...you know the projections that they used to make their smoke and mirror budget deal....
Now you know what the dos equis man has been doing in his free time, and it ain't playing hide the sausage.
dos equis man? What do you mean?
Could it be that Spanish people always ask for 2x of something??
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