Cashin On 'Occupy' Spain

Tyler Durden's picture

Somewhat under-the-radar amid the US media's attention to housing data is the growing chaos in Europe. UBS' Art Cashin ensures we do not forget that Europe still drives the bus as he reminds us of the rise of the 'Occupy Congress' movement in Spain and the protests later today. With youth unemployment over 50%, it is sure that Rajoy will be keeping a close eye on this demonstration and other European leaders (and Greek demonstrators) will also be paying close attention. As Art says "let's hope the streets don't explode," especially given the NY Times noting that the number of 'hungry' Spaniards rose to nearly one million this year, and even previously well-to-do middle-class citizens are now dumpster-diving for food.



Via Art Cashin, UBS:

Hardly A Siesta – Spanish demonstrators are planning a rather active afternoon (actually early evening). Here's a bit from an AP report on preparations:

Police seal off Spain Parliament ahead of protest

MADRID (AP) — Spain’s Parliament took on the appearance of a heavily guarded fortress Tuesday, hours ahead of a protest against the conservative government’s handling of the economic crisis.


The demonstration, organized behind the slogan ‘Occupy Congress,’ is expected to draw thousands of people from around Spain and was due to start around 1730 GMT.


Madrid’s regional Interior Ministry delegation said some 1,300 police would be deployed though protesters say they have no intention of storming the chamber, only of marching around it.


They are calling for fresh elections, claiming the government’s austerity measures show the ruling Popular Party misled voters to get elected last November.


The protest comes as Spain struggles in its second recession in three years and with unemployment near 25 percent.

This demonstration (1:30 EDT) will be watched very carefully across Europe. It will certainly influence Prime Minister Rajoy's timing and manner in acceding to bailout terms. Other European leaders and even Greek demonstrators will be watching intently. Let's hope the streets do not explode.


Via NY Times: Spain Recoils As Its Hungry Forage Trash Bins for a next meal


On a recent evening, a hip-looking young woman was sorting through a stack of crates outside a fruit and vegetable store here in the working-class neighborhood of Vallecas as it shut down for the night.  At first glance, she looked as if she might be a store employee.


But no. The young woman was looking through the day’s trash for her next meal. Already, she had found a dozen aging potatoes she deemed edible and loaded them onto a luggage cart parked nearby.

“When you don’t have enough money,” she said, declining to give her name, “this is what there is.”




Such survival tactics are becoming increasingly commonplace here, with an unemployment rate over 50 percent among young people and more and more households having adults without jobs. So pervasive is the problem of scavenging that one Spanish city has resorted to installing locks on supermarket trash bins as a public health precaution.




Ramon Barnera, who runs the Caritas programs in Girona, said the organization realized early on that shame was a factor preventing people from coming forward to ask for food. So three years ago, it helped create food distribution sites that looked more like supermarkets, and removed the charity’s name from the outside of the building.


We looked for a system that would give dignity,” Mr. Barnera said. “This is not easy for people.”


On a recent morning, Juan Javier, 29, who had come to collect milk, pasta, vegetables and eggs from one of the distribution centers, was one of the few clients who would discuss his circumstances. A former printer, he has been out of work for two years. “I would like to have a job,” he said, “and not be here.”


In a nearby soup kitchen, Toni López, 36, waited quietly for a free lunch with his girlfriend, Monica Vargas, 46, a beautician. The couple recently became homeless when they fell two months behind on their rent. “All our lives we have been working people,” Mr. Lopez said. “We are only here because we are decent people. The landlord was knocking on the door demanding the rent, so we said, ‘Here, here are the keys.’ ”


Mr. Lopez, who gets occasional work these days in restaurant kitchens, said he had a sister but had not gone to her for help. “I can’t bear to tell her,” he said. “I have always pulled through. I’ve always managed to get by. This is new.”

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GetZeeGold's picture




Going green....going forward.....looking good.


fightthepower's picture

I'd love to see people of Greece, Spain, etc take revenge on the people that caused this crisis.  Pray for chaos!

MillionDollarBonus_'s picture

This is the civilized way of getting things done. Vote for politicians who promise to provide you with what you want, and hold them to account if they don't keep their promises. This is real democracy in action, and it’s thrilling to watch. The entrepreneurial capitalist model of saving and investing is over, and the age of protesting and collective action has begun.

Make your voice heard - What do you want from government/ Is the government providing what you need?

fonzannoon's picture

Hold them to account? Go on........

GetZeeGold's picture



.....just enough rope.


JPM Hater001's picture

Here is something sick...When conventions serve for receptions and meals any left over food is suppose to be tossed and can not be given to food shelves.

I have seen massive amounts of food thrown out.  Watch those dumpsters because that will be worth fighting for.

Muddy1's picture

I've got them located on my GPS, and have mapped numerous routes of travel to and from them.

HoofHearted's picture

awesome....just awesome. Now get me some Cheez Whiz, bitch, or I'm taking away my up vote for you.

hedgelessWhoresMan's picture

Cheese....I need more gubermint Cheese.

Treeplanter's picture

Get your food stamp card while you can.  USDA commodities will be coming back. No Pepsi.

Boxed Merlot's picture

What do you want from government/ Is the government providing what you need?...


Who cares about the government? As long as Ben continues to trade ethereal currency and cyphrage entries into international financial ledgers at the rate of 56 million frns per hour, 24 hours a day, 365 days a year in exchange for real estate ownership rights from now on, the people of the US are evidently thrilled and even thankful.

Personally, I believe this whole episode makes the sale of Manhattan, the Louisiana Purchase and the acquisition of California and Alaska combined look like child’s play.  At least the Indians got trinkets. 


Treeplanter's picture

Indians got the nanny state on steroids.  Once the free-est people on the planet.   

Son of Loki's picture

Oddly, Spain's 'confidence board' reports consumer confidence up.


Buck Johnson's picture

You know what I want to see, thats Spain and Greece mob of people to storm the police lines and parliment and crowd surf the people out of the building and put them on a bus out of the country.

Cash2Riches's picture

Look out Global elite. The Masses are slowly waking up.

lunar's picture

@ fightthepower

I hope you mean on GS &Co.?!?!

RSBriggs's picture

Let's hope they do.  It's time for all this financial enslavement BS to end.  Globally.


LOL - I'm getting "It's time to end Frequent Heartburn" Prilosec ads....


LULZBank's picture

Unrest on the plantations Bitchezz!!!

HoofHearted's picture

Should I cancel my November trip to Spain? It's looking more and more like that is the right idea. Damn, I'll just have to go to Camden instead.

GolfHatesMe's picture

You could just buy Camden, probably cheaper

Anasteus's picture

I hope the streets will explode. That's the only language the bastards understand.

Shizzmoney's picture

Like my Mom always says: "It's always fun and games....until someone gets an eye poked out."

ZackAttack's picture

... and then it becomes *hilarious*.

bullmkt's picture

I think he hopes otherwise - for streets to explode.That could turn the sentiment risk-off and

we all know Art Cashout is bearish stocks since about SP 1300.LOL.Soon to be stopped out,stock markets Stolper.

americanspirit's picture

This time around the police and the military could actually decide to take the side of the people against the government and the international (dare I say it) - um- "tribal" banking conspiracy. I just keep looking for those skittles coming out of the unicorns' butts, don't I?

ptoemmes's picture

I suspect Rajoy and friends will be keeping a close eye - from afar....


Afar is in the middle east somewhere.

Cult_of_Reason's picture

And CNBC Goebels continue pretending all is well and broadcasting irrelevant bullshit propaganda.

kito's picture

As Art says "let's hope the streets don't explode."...........


sorry art, but i get the sense the populace in spain wouldnt agree with that statement.................mere words seem to be falling on deaf ears over there..................................

RSBriggs's picture

Is your period key stuck?

kito's picture

like bens finger to the print button........................................$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$...................

zendome's picture

Looks like American style economics has finally really gone global.  Welcome to what we refer to as "Fuck you Jack, I got mine".

ZackAttack's picture

Reading about 1300 police and armored vehicles parked bumper-to-bumper.

That's certainly a proportional response to a bunch of unarmed and hungry people.

RSBriggs's picture

If the projected numbers are correct, then I wouldn't want to be one of those 1300 riot police when 1/2 million angry protesters show up....

ebworthen's picture

I had to laugh at Lagarde chastising the U.S. over the fiscal cliff, and making veiled threats that if the U.S. didn't keep pumping taxpayer money into the banks that the "crisis" would return (even though it has never left).

$40 billion a month from Ben isn't enough? 

Who needs Career employment?

Debt to solve a debt crisis?  

"Udder" genius.

notadouche's picture

One problem with this statement at the end "we looked for a system that will give dignity".   I don't believe a system can give out dignity.  Perhaps a system can allow for dignity to be attained but not just give it to someone.  Maybe along the same lines as not being able to legislate "happy".   Semantics, I suppose but something the political elites should think about.  

Monedas's picture

Dumpster Gazpacho !    Yummmmy !

NoWayJose's picture

I wonder if they survey the dumpster divers about consumer confidence?

dogbreath's picture

or if they are available for a date

JohnKozac's picture

Spain's policemen have job security. That's one thing for sure.

Treeplanter's picture

Until their paychecks bounce.

Urban Redneck's picture

Austerity... Spain took a day trip to a rather luxurious  Health Spa for some liposecution and waxing.  Auterity is a revenue positive budget and paying down the existing debt load.   Austerity has nothing to do with trying to lower interest rates so that one can more easily enter the debt markets to borrow more money.

"They are calling for fresh elections, claiming the government’s austerity measures show the ruling Popular Party misled voters to get elected last November."

oldman's picture


Get out of here with this trashy sensationalism. You shoulld be ashamed for pandering so---this is nothing compared to the US, and the Spanish are always in protest somewhere in Spain.

In Europe it is just another day----and there is food for all.

This propaganda to obscure the real problems of the world, the US, should be beneath this site---or I guess it WAS until it ISN"T

Shame on you, Tyler       om

AurorusBorealus's picture

There are many more problems in this world than the U.S., my friend.  The whole of the West has been seduced by the same whores that the U.S. has and has contracted the same disease.  Notice that the solution of the masses is more socialism, more democracy.  They blame this on a Franco-style conservatism, not socialism.  They are the authors of their own demise.  Did the Spaniards not democratically elect the very government they now protest?  Did the Republican party in the United States not choose, democratically, Mitt Romney over the only candidate who actually had some grasp of the problems (Ron Paul)?  A survey of the democracies of the world would indicate that the problem lies with democracy... as Aristotle long ago observed and as Jefferson understood.  A Republic requires virtue (which is what Jefferson meant when he changed the words of Locke from "life, liberty, and the pursuit of property" to "life, liberty, and the pursuit of happiness.")  Education in the West has become an exercise in hatred: hate the wealthy, hate men, hate white people, hate your own history and culture, hate the West.  How can one create a virtuous citizenry capable of self-government when all one teaches is hate and socialism?  The problem is not some Francoesque conservatism... hardly... the problem is democracy, which leads to socialism, fascism, or worse: totalitarianism.

oldman's picture


Thank you for your response---the following is not to be considered personal in any way, since I have no idea of wo you are or what you are about---my unthought, unwritten comment that is about to begin and flow automatically, is addressed to all here who might be most in denial of what is to be below:

First of all, my comment was made to the point that we run from one hot spot to the next even before we know if there is a real event, a news item that something is happening, without asking 'What HAPPENED?'. Pandering to the emotions of the least capable and most excitable of the population without shame. That was my main point.

The point that everyone dislikes, is to call the US and its dissemination of a media culture which panders in the same way, for its part in this, could be the fault of any nation or culture, but no other nation/culture is as culpable as the US; the denial of this is absurd.

As for the rest, I understand your comments and respect your points of view as they were once my own; and, maybe, talking and writing in the manner you did above has great merit in normal times. But today, we are the top of the food chain with more body mass to feed as a species than any species since the dinosaurs, and there is not enough below us to continue our current consumption. The end is clearly in view---and we are still having these pissing contests in place of conscious change, and there is nothing more frustrating for this oldman than to see the same conversation going on year after year without the slightest movement towards sustainable existance with all species or any more respect shown to our mutual habitat than the disrespect shown the 'day before'.

I am a do-nothing dude though my life has made a difference to many---I am also 60 years into this conversation and not a thing has been done to change the human impact upon our habitat or how we share this planet with all species in the mega-bio-diverse manner required for a healthy planet.

So, I won't apologize for my outbursts, but, perhaps, you will forgive me by doing more than gumming the problems of corruption, over-consumption, the structural problems of democracy, and just plain human indecency with platitudes so well-worn. I invite to pick up trash around your neighborhood as a test of faith of your fine words.

After that, or something akin to this selfless act, perhaps, we will have a basis for further conversation   of course, this is an example of 'doing-nothing' that you will probably think is too insignificant to be meaningful, and you will be correct, but show me, please, a meaningful act that is a fact and not an opinion, point of view, thought, or 'propaganda'---In other words, something 'new' worthy of being called news     om