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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
  • SPAIN JAN-AUG CENTRAL BUDGET DEFICIT 4.77% GDP VS 3.81% YR AGO

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

  • SPAIN EXPECTS HIGHER TAX REVENUE IN COMING MONTHS

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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Tue, 09/25/2012 - 10:50 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

So you're saying there's a chance?

Tue, 09/25/2012 - 11:01 | Link to Comment Cash2Riches
Cash2Riches's picture

Let's keep those printing presses rolling!

 

http://jimrickards.blogspot.ca/

Tue, 09/25/2012 - 18:39 | Link to Comment Buck Johnson
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.

Tue, 09/25/2012 - 10:53 | Link to Comment sUccRAM
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.

Tue, 09/25/2012 - 10:58 | Link to Comment LawsofPhysics
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".

Tue, 09/25/2012 - 11:24 | Link to Comment DoChenRollingBearing
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...

Tue, 09/25/2012 - 10:53 | Link to Comment Winston Churchill
Winston Churchill's picture

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

Whats Greece ?

Very confusing.

Tue, 09/25/2012 - 11:00 | Link to Comment saturn
saturn's picture

Greece is Cyprus.

Tue, 09/25/2012 - 10:54 | Link to Comment GaryNeville
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....

Tue, 09/25/2012 - 10:54 | Link to Comment Dr. Engali
Dr. Engali's picture

Clearly bullish for the IBEX. Just BTFD.

Tue, 09/25/2012 - 10:59 | Link to Comment LULZBank
LULZBank's picture

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

And not forgetting more properties under the sun.

Tue, 09/25/2012 - 11:00 | Link to Comment Nobody For President
Nobody For President's picture

Happy days are here tomorrow!

Tue, 09/25/2012 - 11:45 | Link to Comment Dexter for President
Dexter for President's picture

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

Tue, 09/25/2012 - 12:02 | Link to Comment SmallerGovNow2
SmallerGovNow2's picture

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

Tue, 09/25/2012 - 11:03 | Link to Comment pods
pods's picture

They just need to hedonically adjust their numbers!

pods

Tue, 09/25/2012 - 11:10 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

SP 1463.  No worries!

Tue, 09/25/2012 - 11:18 | Link to Comment riphowardkatz
riphowardkatz's picture

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

Tue, 09/25/2012 - 11:45 | Link to Comment Haus-Targaryen
Haus-Targaryen's picture

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

Tue, 09/25/2012 - 11:48 | Link to Comment americanspirit
americanspirit's picture

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

Tue, 09/25/2012 - 12:16 | Link to Comment Urban Redneck
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?

Tue, 09/25/2012 - 21:18 | Link to Comment zippy_uk
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".

Wed, 09/26/2012 - 16:05 | Link to Comment SaulGood
SaulGood's picture

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

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