Spain In A Nutshell

Tyler Durden's picture

Confused why contrary to all public lies otherwise, Spain is Greece? Here's why

  • TAX RECEIPTS THROUGH AUGUST FELL 4.6% ON YR, SPAIN DATA SHOW: perhaps their tax collectors were also on strike?
  • SPAIN GOVT SPENDING THROUGH AUGUST ROSE 8.9%, BUDGET DATA SHOWS: missed the austerity by just thiiiiiiis much

Luckily, there is always hope that the magic money tree will bloom eventually


So, to summarize: revenues down, spending up, budget deficit naturally higher than last year. Oh, stop calculating... and just buy their bonds. The Central Planners will make sure the math is irrelevant always and forever.

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HelluvaEngineer's picture

So you're saying there's a chance?

Buck Johnson's picture

We have Greece lying by 50% if not more about their austerity and needing more money.  We have Spain saying just buy the bonds and worry about getting paid later.  And the money buying it is from central banks.

sUccRAM's picture

Higher tax revenue due to a rise in VAT. from 18% to 21% for general goods in September. At least this is the idea.

LawsofPhysics's picture

Ahh yes, theft by inflation or taxation.  At least the mafia has the decency to show up in person and say "fuck you, pay me".

DoChenRollingBearing's picture

We are on vacation in Italy.  Things are very bad here as well (worse than America, please believe me).  When I get back I have two nice articles planned re Italy (on their disappearing gold and unusual photos).

A bookstore seller in Brindisi told me that there is so little street crime here in far SE Italy is because the mafia WANTS it that way, they get a cut of everything.  And THEY want the tourists to come and spend...  We have not yet felt menaced by "the usual immigrant groups", I believe that explains why...

The same guy told me that the WHOLE COUNTRY (including Milan and its stock exchange) is TOTALLY corrupted by the various mafias (especially the Calabresian Mafia which has a strong presence in Milan).  No real surprise as our own exchanges are corrupted (just by different "mafias" ("banksters")).

But, forget setting up a business here in Italy.  I would not even do that in the USA, but I am getting old...

Winston Churchill's picture

I thought Spain was Uganda,or is that the USSA.

Whats Greece ?

Very confusing.

GaryNeville's picture

Welcome to the post financial crisis' brand new 2012 paridgm...

Rejection of Mathematic principals

Rejection of Fundementals

HOPE in central bankers ability to make reality disappear. People only see what their eyes want them to see....

Dr. Engali's picture

Clearly bullish for the IBEX. Just BTFD.

LULZBank's picture

Clearly they need more banks and financial institutions to bring them prosperity.

And not forgetting more properties under the sun.

Nobody For President's picture

Happy days are here tomorrow!

Dexter for President's picture

At least I spared some thought and selected someone (Dexter) for president. LOL

SmallerGovNow2's picture

Is that like the Free Beer Tomorrow sign at a bar?

pods's picture

They just need to hedonically adjust their numbers!


SmoothCoolSmoke's picture

SP 1463.  No worries!

riphowardkatz's picture

What happened to blaming the bond vigilantes? They were such an easy target. h

Haus-Targaryen's picture

Don't worry guys.  Spain doesn't need a bailout.  

americanspirit's picture

Coming very soon - currency sniffing dogs at Spanish borders, currency controls, and harsh penalties for hoarding. Gulag Iberia.

Urban Redneck's picture

On what basis could they be expecting higher revenues later in the year, is there some double secret 90% tax on Lotería de Navidad they're planning to roll out in three months?

zippy_uk's picture

STOP PRESS - Europe has banned "Mathematics" on the basis it unethically undermining The Euro.

In a commnique issued from Brussels, Mr Junker confirmed the Maths is not necessary for assessing Euro markets as numbers would "always be positive" , hence finding out where these numbers came from is not necessary.

In a follow up meeting with Barroso and Van Rompoy stressed the problems and dangers of unauthorised Maths causing market distorting views of economic performance in Europe, particularly those originating out of London or "Amerika" of which all things economically bad should be blamed, "no matter what".

SaulGood's picture

So if spending has gone up, what are people protesting?