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The Great Spanish Crash - Documentary

Tyler Durden's picture





 

Forget what you are told by various European officials. Ignore the endless parade of manipulated market savants who 'see' sovereign spreads falling and claim that indicates all is well in Europe. To truly understand the situation, watch this must-see documentary from the BBC's Paul Mason on the rise and fall of Spain. From dictatorship to democracy and from construction boom to economic bust, Mason pulls no punches in this down-to-earth realization that things are far worse than any 'market' would suggest. It is critical to understand that free markets are the stick (or carrot depending upon your style of vigilantism) to incent governments to be proactive. With the very visible hand of ECB-funded banks bailing one another out, all the politicians are doing in this 'lull' is nothing at all! Instead, the watchers (and prognosticators) simply observe the market and their bias is to believe that they 'fixed' it. This documentary will explain why that is absolutely not the case.

 

 


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Fri, 12/21/2012 - 00:16 | Link to Comment tradewithdave
tradewithdave's picture

Andrew Maguire part 2 on Paulson:  http://tradewithdave.com/?p=14372

 

We're waiting for audio

Fri, 12/21/2012 - 00:23 | Link to Comment Careless Whisper
Careless Whisper's picture

Well many people are waiting for Mister Andrew Maguire to surface. The only person that claims to have seen him in person is Mister Max Keiser, hardly a credible source, in my opinion.

Have any videos of Mister Maguire? Any sworn statements? 

Fri, 12/21/2012 - 01:57 | Link to Comment economics9698
economics9698's picture

Y = C + I - G + NX.

Someday the people will learn that governemtn produces nothing.  The sooner it is gone the sooner prosperity will return.

Fri, 12/21/2012 - 02:50 | Link to Comment macholatte
macholatte's picture

 

Someday the people will learn that governemtn produces nothing. 

 

But the government DOES produce something. It produces paychecks, with paid vacations, sick leave, health care, travel expenes, pensions and lots and lots of conflicted politicians.

Fri, 12/21/2012 - 03:00 | Link to Comment economics9698
economics9698's picture

Government taxes, borrows, or prints.  It produces nothing, all it does is takes money from producers and gives it to parasites.

Fri, 12/21/2012 - 07:55 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

It's either fix the Republic.....or move back to England.

 

So....what's it gonna be?

Fri, 12/21/2012 - 08:20 | Link to Comment Rip van Wrinkle
Rip van Wrinkle's picture

You really don't want to come back to England. We taught Obammie everything he knows.

Fri, 12/21/2012 - 09:36 | Link to Comment new game
new game's picture

texas has an certain appeal>more than half of pop. has their heads out of their a$$...that could change, though.

Fri, 12/21/2012 - 09:34 | Link to Comment somecallmetimmah
somecallmetimmah's picture

Awww, hellz-no.  I ain't limiting myself to *those* two failed non-options.

Fri, 12/21/2012 - 03:33 | Link to Comment Ar-Pharazôn
Ar-Pharazôn's picture

the gov doesnt produce something of value. it transfer money from people to gov and then to other people black.. cough cough sorry back

 

 

Fri, 12/21/2012 - 03:48 | Link to Comment AnAnonymous
AnAnonymous's picture

But the government DOES produce something. It produces paychecks, with paid vacations, sick leave, health care, travel expenes, pensions and lots and lots of conflicted politicians.
________________

But an 'american' state produces much more.

See how 'americans' have laudated the State and used it to crush stateless societies.

Thanks to it, 'americans' live on land that aint theirs.

Aint the State a wonderful thing? The 'american' state, that is.

Fri, 12/21/2012 - 04:22 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

But a Chinese citizenism state produces much more.

Smell how Chinese citizenism citizens have laudated the State and used it to crap on stateless societies.

Thanks to it, Chinese citizenism citizens live on land that aint theirs and Tibetans live where they are told by the Chinese Citizenism Communautist Party, or are forced to be hobbos or set themselves on fire.

Aint the State a wonderful thing? The 'AnAnonymican' Chinese citizenism state, that is.

Fri, 12/21/2012 - 12:15 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

The "I" part is pretty important.  I charted what "I" has been looking like historically.

http://imgur.com/f1Mjp

From 1998 - 2011, we went exactly nowhere in real terms.  The private investment portion is the part that's the hardest to "game".

Raw data:

http://www.gpo.gov/fdsys/pkg/ERP-2012/pdf/ERP-2012-table2.pdf

Fri, 12/21/2012 - 02:14 | Link to Comment Enkidu
Enkidu's picture

Max Keiser is part of a tiny group of media-ists  who are credible --- a tiny, tiny group. Unfortunately, MSM in America never sees any of them...

Fri, 12/21/2012 - 00:50 | Link to Comment B-rock
B-rock's picture

Here is the movie in better quality (honestly): http://www.youtube.com/watch?v=sh35AsfiP7Y

Fri, 12/21/2012 - 09:20 | Link to Comment Reformed Sheep
Reformed Sheep's picture

Thanks - there's a bunch of other interesting looking docs down the side panel of that one, too!

 

Fri, 12/21/2012 - 01:47 | Link to Comment Cash2Riches
Cash2Riches's picture

Soon this documentary will be able to be aired in every nation. All you will have to do is change the name of the country.

 

http://www.wholesalegoldgroup.com

Fri, 12/21/2012 - 00:23 | Link to Comment Yen Cross
Yen Cross's picture

 Just ask Paul Krugman/ He was booed out of one of the most liberal countries in Europe.

 The Ultimate Krugman Take-Down | ZeroHedge

  Spain is more corrupt than Greece.

 

Fri, 12/21/2012 - 00:35 | Link to Comment Freddie
Freddie's picture

Libturd Krugman is more corrupt than Greece.

Fri, 12/21/2012 - 00:45 | Link to Comment Yen Cross
Yen Cross's picture

  He sure is. Good on ya Freddie.

Fri, 12/21/2012 - 01:26 | Link to Comment Seer
Seer's picture

Wow!  What a couple of great contributions.  NOT!

Freddie's MO is to repeat the same frothing hatred.  I FUCKING GET IT.  And then you have to play buddies.  A popularity contest, how quaint.  Just what we need to move forward into an ever deteriorating future.

Fri, 12/21/2012 - 01:44 | Link to Comment Yen Cross
Yen Cross's picture

Am I missing something? The UK100 is trading just below 6K .  Did you miss the boat SEER?

  Who delegated you ass-master?  FUCK OFF

  Don't worry, i won't follow you into oblivion, like some psycho babble idiot!

Fri, 12/21/2012 - 02:28 | Link to Comment Freddie
Freddie's picture

LOL!

Weird? I thought Seer was generally not a f****ard troll.  Maybe he loves listening to Krugman's inane and evil ranting.   Oh well. The world under dear leader is more insane than Alice in Wonderland.

Fri, 12/21/2012 - 00:40 | Link to Comment Careless Whisper
Careless Whisper's picture

Maybe that's a good movie, IDK. I had to turn it off after a few minutes of listening to that guy with the British accent. After the past few days of Piers Morgan, I'm really just not. in. the. mood.

 

Fri, 12/21/2012 - 08:34 | Link to Comment reload
reload's picture

Piers Morgan is a total knave.

He used to drink in my local in London 20 years ago when he was a `newspaper` editor. That was before he resigned his job without admitting allegations of insider trading were true. He was a twat then and is a bigger, smugger one now. Just tune him out, he is an embarassment to most of his countrymen.

Paul Mason on the other hand is fairly truthy by BBC standards, the best of an admittedly mostly uncurious ecconomics department.

And yes: Spain is a disaster, France will be the same in a couple of years and then Germany. We need defaults, massive cutting of government is all its forms and then a low flat tax with a tax code written on 2 sides of A4. Then people will have a chance to rebuild and incentive to produce. The fat, complicit and coddled beurocrats in Brussels would rather starve their own children than have their pipe dream exposed and abandoned though. Its going to be a long ugly haul.

Happy Christmas all ZH`ers

Big thanks to the Tylers for another year of revelation and education.

stay safe in 2013

Reload.

 

Fri, 12/21/2012 - 08:38 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

He was a twat then and is a bigger, smugger one now.

 

Please give him another chance......we're getting tired of him. He won't even try to talk like an American.

Fri, 12/21/2012 - 09:40 | Link to Comment new game
new game's picture

and where to forth comes his validity?

fucken eh...

Fri, 12/21/2012 - 00:42 | Link to Comment ball-and-chain
ball-and-chain's picture

Eventually, there will be a new Franco.

How long can democracy survive with 20 percent unemployment.

They've been stuck at that number for quite some time.

It's all screwed up.

http://www.angrysinner.blogspot.kr/2012/12/yesterday-i-hiked-ten-miles-through_20.html

Fri, 12/21/2012 - 00:55 | Link to Comment Harbanger
Harbanger's picture

Maybe Spain needs to tax the rich and reduce their military, or maybe the European model which is a socialized economic system is proving to be unsustainable, even in the US.

Fri, 12/21/2012 - 01:32 | Link to Comment Seer
Seer's picture

It's ALL unsustainable.

Looking back things were as they should have been, though sans Franco types.  And even then it's clear that the country couldn't have held together under this state banner called Spain.  If force is necessary then you're only buying time, as eventually (no matter how people try to pretend otherwise) it comes apart.

Anyone watching this should see why an NWO ain't going to be possible.

Fri, 12/21/2012 - 01:54 | Link to Comment Harbanger
Harbanger's picture

"NWO ain't going to be possible." But it Doesn't mean they won't try it.  They're not stopping now, this global utopia has been planned for a very long time.  The MSM, Hollywood elites and the Democrat controlled education system are all promoting some form of global collectivist propaganda. 

Fri, 12/21/2012 - 08:55 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

The MSM, Hollywood elites and the Democrat controlled education system are all promoting some form of global collectivist propaganda.

 

I don't even try to classify them anymore......I just call them all asses. Don't worry about saving me......save yourselves.

Fri, 12/21/2012 - 09:43 | Link to Comment new game
new game's picture

is that the matrix? right is wrong and wrong is right-i'm confussed...

Fri, 12/21/2012 - 01:39 | Link to Comment Frozen IcQb
Frozen IcQb's picture

The current resources can go to the people for rebuilding the economy or to pay for debt service.

Maybe they just need to rid themselves of malinvestment, default and start fresh.

Fri, 12/21/2012 - 00:49 | Link to Comment SpykerSpeed
SpykerSpeed's picture

My heart goes out to these people.  Sure they're mostly socialist idiots who don't understand how economics works.  But this is our opportunity to explain why they can't find jobs, and more importantly, explain it to the youth.  If the youth could comprehend en mass that fiat currency and socialism always lead to this, we might be able to avoid another fascist uprising in Europe.  A group of free market oriented filmmakers should create a viral video that explains everything as simply as possible in Spanish and Greek.

Fri, 12/21/2012 - 01:05 | Link to Comment balz
balz's picture

Cause you know how economics work? Bull shit. Free market does not work. Life can't be marketed. That's what you libertarians do not understand. As much as a totally central economy spell failure, "free" market takes the same path.

Fri, 12/21/2012 - 01:21 | Link to Comment Ox
Ox's picture

The free market works just fine, though it's a pity that free markets and state sponsored welfare/social support are somewhat mutually exclusive ideologies.

 

So we get a half assed version where the government interferes in the free market where it pleases in order to win votes/follow goals that the market does not desire, wrecking price signals and causing bubbles.

 

Fri, 12/21/2012 - 01:38 | Link to Comment Seer
Seer's picture

No, say it ain't so!  An ideology that doesn't work in chalkboard form in real life?

As soon as you have a govt or other BIG entities that can cause major disruptions NO "perfect" system can exist.

"Free markets" work in people's heads.  If you want it to materialize then the ONLY way is to throw off ALL govts.  And you'd have to neuter big corporations as well.

Fri, 12/21/2012 - 02:19 | Link to Comment Seer
Seer's picture

Still waiting for someone to present ANY case of "free markets" that were FREE of govt influence.

Facts are tough to swallow, yes?

Easy to bash, harder to prove yourself...

Fri, 12/21/2012 - 02:28 | Link to Comment Ox
Ox's picture

Are talking to me? Pretty sure your point isn't contradicting mine, I agree that there are no markets free of govt. influence - that's part of the point I was making. Market mechanism is an efficient allocator, but humans refuse to allow it to work because the consequences are politically unsavoury, and politics and economics are intertwined.

 

 

Fri, 12/21/2012 - 03:09 | Link to Comment Harbanger
Harbanger's picture

The US had Free markets, Property Rights, and Sound Money before the creation of the Fed.  We've been on a progressive drift towards Socialism ever since.  If you're really interested in learning about the subject, here's a link,

http://www.heritage.org/research/reports/2010/08/the-economic-principles-of-america-s-founders-property-rights-free-markets-and-sound-money

Fri, 12/21/2012 - 03:52 | Link to Comment AnAnonymous
AnAnonymous's picture

The US had Free markets, Property Rights, and Sound Money before the creation of the Fed.
_____________________________
Absolutely. And the US also had freedom.

Unfortunately for 'americans', it is no longer 1777.
And worse for them, the world is populated with 'americans'
And one thing is difficult: to bamboozle 'americans' about 'americanism'

After stealing a whole continent, 'americans' still want people to believe the US had property rights and that is what the cause for their prosperity.

So funny.

But hey, 'american' economics is all about consumption. So as long as this fantasical drivel leads to consumption, 'americans' are the happy type...

Fri, 12/21/2012 - 04:04 | Link to Comment Harbanger
Harbanger's picture

The world is now populated with 'americans' and they will consume the chinese next.

Fri, 12/21/2012 - 05:13 | Link to Comment Yen Cross
Yen Cross's picture

 the world is populated with [izms}  You buy my toaster, or I sell your FIAT!

Fri, 12/21/2012 - 13:04 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

I think a lot of the issue is regulatory capture.  Consider countries that are relatively less subject to this effect (esp. Scandanavians); their strong social welfare programs don't appear to be at odds with well functioning, productive economies.  

The primary purpose of a good government in an economy is to develop a simple, fair, and transparent system of checks and balances (through taxation, regulation, and redistribution).  This is actually a necessary role, because the absence of a government presence allows for unmitigated and inevitable market failures (two primary drivers being the free rider problem and negative externalities).  The trick is in figuring out the most efficient models of taxation, regulation, and redistribution.  Regulatory capture necessarily results in inefficient models for all three.  More succinctly, we need to throw the bums out, and the bums are not just the politicians currently in office.  

Fri, 12/21/2012 - 01:43 | Link to Comment Frozen IcQb
Frozen IcQb's picture

On the contrary, Free markets do work when operating normally.

Spainish officials and bankers were not willing to take the losses which makes free economies work.

They socialized the losses at the expense of the poeple.

Fri, 12/21/2012 - 01:52 | Link to Comment Seer
Seer's picture

Those who like to fly banners are always blind to their flaws..

The failing is that libertarians tend to think that some government is needed.  Crack the door and you cannot shut it, it will always FLY open (when power comes a knocking).  It's nice hope, but won't work.  And, it's necessary to support the notion of "property rights."  Again, I AGREE with the concept, but it's that door cracking open that bothers me- history shows us no other way on this.  If govt has the power to protect your property rights it can also has the power to take them away.

So, in conclusion, I believe in "free trade."  I like the notion of smaller govt like the libertarians, but I encourage things to go in a more complete direction- no centralized govt.  How the "property rights" things work out here I just don't know; but, since lots of people have a lot of ammo I'm thinking that personal protection of property rights (and getting along with your neighbors) is just as good.

Fri, 12/21/2012 - 02:21 | Link to Comment Seer
Seer's picture

No rebuttal, no concrete evidence showing any different?

Didn't think so...

Seems everyone has to be under the spell of some kind of "god."

Fri, 12/21/2012 - 07:13 | Link to Comment StychoKiller
StychoKiller's picture

Au contraire!  Life can be marketed, just ask those Chinese blokes what sold their kidneys for an iPad!

Fri, 12/21/2012 - 01:12 | Link to Comment Freddie
Freddie's picture

My heart goes out to these people. Sure they're mostly socialist idiots who don't understand how economics works.

Sounds like Paul Krugman - Nobel Prize Winner. (sic)

 But this is our opportunity to explain why they can't find jobs, and more importantly, explain it to the youth

Sounds like ObaAmerika aka the new emerging Zimbabwe.

Fri, 12/21/2012 - 01:41 | Link to Comment Seer
Seer's picture

Who pays you to post these childish name-calling rants?

They're ALL fuckers.  You need to remind us?

Every once in a while you actually add something of value, though that's quickly rubbed out by all these childish rants.

Fri, 12/21/2012 - 01:46 | Link to Comment Yen Cross
Yen Cross's picture

 Seer lay of the swill/ you will regret it!

Fri, 12/21/2012 - 02:16 | Link to Comment Seer
Seer's picture

Are  you trying to impress your new boyfriend, Freddie?

I have no regrets.  I have no fear.  I bow before none.

Fri, 12/21/2012 - 02:32 | Link to Comment Yen Cross
Yen Cross's picture

 Seer, I'm not trying to start a conflict. I realize you are passionate about your thoughts/ 

   Most people are on your side. A little understanding goes a long way. :-)

Fri, 12/21/2012 - 02:35 | Link to Comment Freddie
Freddie's picture

Dude like what is the deal with you tonight?  Why would you defend that evil idiot Paul Krugman - he is a stooge for the elites?  He is like Obama/Bernank/JP Morgue parrot.   Just another liar like Geothner, Buffett, munger, et al.

Most of here respect people like Hugh Hendry, Jim Grant, Kyle Bass, Jim Rogers, Faber, Santelli and a few others.  Krugman is joke.  Go take a nap or something.   Did your boss at Bank America scold you today? 

 

Fri, 12/21/2012 - 03:52 | Link to Comment Yen Cross
Yen Cross's picture

redemption during the Holiday Season/  Bitchez

Fri, 12/21/2012 - 00:53 | Link to Comment l1b3rty
l1b3rty's picture

http://silvervigilante.com/red-yellow-and-franco-purple-there-will-be-bl...

In shocking disregard to the value of human life – especially that of Spain’s own soldiers and citizens – Col. Francisco Alaman responded to the 1.5 million person demonstration in Barcelona last month of Catalan calls for independence for Catalonia by saying: “Independence for Catalonia? Over my dead body…and those of many soldiers.” That’s right, in the 21st century, no plebiscites, just war. But, as the second richest region in Spain, with a GDP of 220 billion euros a year, Spain might have to take the independence movement seriously.

Fri, 12/21/2012 - 01:16 | Link to Comment Freddie
Freddie's picture

+1 for posting that.

This is truly scary stuff and it is exactly what Nigel Farage has been warning the corrupt scum at the EU-SSR about with the Euro.

Coming to an Hope & Change Amerika near you.

Fri, 12/21/2012 - 01:42 | Link to Comment Seer
Seer's picture

When this all collapses how will you earn your living?  I'm not thinking that there'll be anyone out there to continue to pay for your childish rants.

Fri, 12/21/2012 - 02:42 | Link to Comment Freddie
Freddie's picture

Who is paying me for my posting?  Have you been drinking tonight?

The only one making any money on our posts is the Tyler(s).  They provide better content than most of the major news sources so they deserve to make money off their banner ads.

Fri, 12/21/2012 - 09:18 | Link to Comment tango
tango's picture

Freddie, I learned some time ago not to argue with those who simply bitch and criticize without offering an alternative. The easiest thing in the world to say is "governments are bad", "Capitalism has failed", etc.  My reply is, "And what's your grand plan?"   Of course there is none so I get back to my world and they go on to another subject to whine about. 

I try not to get too upset since I've accepted the reality that the greatest nation on Earth has literally squandered her future for the sake of temporary, immediate gain.

Fri, 12/21/2012 - 01:44 | Link to Comment ronaldawg
ronaldawg's picture

I'll bet that "GDP of 220 billion euros a year" is inflated by a factor of 10, just like the properties in the movie.

Fri, 12/21/2012 - 01:15 | Link to Comment q99x2
q99x2's picture

I want a drink made by a chemist. And were those rocket launchers DIY?

Fri, 12/21/2012 - 01:44 | Link to Comment Seer
Seer's picture

The chemist was drinking.  The bartender was a marketing graduate.  Sad... well, that the marketing guy had a job and not the chemist.

Fri, 12/21/2012 - 01:47 | Link to Comment ronaldawg
ronaldawg's picture

Wonder who paid for the university education of these two.... The State?

Fri, 12/21/2012 - 02:32 | Link to Comment Seer
Seer's picture

The primary problems started at the local levels.

But, having lived in a town where a big corporation was highly influential I can state that that big corporation sure was able to get local education bent in its direction.  For Spain it sure seems that there was in fact a lot of need for marketing types given the business that the bankers and developers were generating.

In the end it matters little who "paid" for it, as it was merely in the interest of GROWTH.

With revolving doors and corruption (POWER) business and government are hardly indistinguishable.  The people just get suckered into it all...

I'd warn against looking for scapegoats (people and, for the most part, institutions) as that just encourages violence (lots [talking-heads] like to incite others because they are too chickenshit to do it themselves).   Before too long the youth will figure it out and then start coming after older folks.  I've hedged for this scenario (I leave it to others to figure this one out).

For Spain they have to worry about when all those Brits' pensions start getting clipped.

Fri, 12/21/2012 - 02:22 | Link to Comment Never One Roach
Never One Roach's picture

Borrow borrow borrow,

Spend spend spend,

Tomorrow 'll be full of sorrow,

And default will be the trend.

Fri, 12/21/2012 - 02:33 | Link to Comment Seer
Seer's picture

Ain't perpetual growth fun?

Fri, 12/21/2012 - 07:18 | Link to Comment StychoKiller
StychoKiller's picture

There's a whole Galaxy to grow into -- time to leave the cradle!

Fri, 12/21/2012 - 02:37 | Link to Comment Yen Cross
Yen Cross's picture

 All About Spain: THE REGIONS  

          VIA a Little Birdie/

Fri, 12/21/2012 - 02:47 | Link to Comment Nassim
Nassim's picture

This is a great documentary. Show it to your spouse on the TV in high-definition by downloading the torrent - http://www.bittorrent.com/

Sadly, the original cannot be downloaded from the BBC's website if you are outside the UK. Afterwards, you will understand why doomers are being bad-mouthed by the MSM.

My parents lived in Spain when I was a kid and I spent a lot of time there - during the Franco era 1964-68 - and I watched the place changing at an incredible pace. It had been a very backward place with donkeys and carts and so on. Great for outsiders with Swiss Francs. I still miss all the Swedish girls we used to meet at the discos.

Of course, joining the EU and then the Eurozone made the process accelerate incredibly. I mean, Spain was consuming half of all the cement being used in Europe at one time.

Fri, 12/21/2012 - 02:52 | Link to Comment Yen Cross
Yen Cross's picture

torrents are no/no in the U.S.  IP's get nasty. In any case, you can do downloads to your laptop?

Fri, 12/21/2012 - 03:45 | Link to Comment magpie
magpie's picture

use the torrent client under Opera

Fri, 12/21/2012 - 03:56 | Link to Comment Yen Cross
Yen Cross's picture

 Damn yer smart/ I have opera 12.something on my (big phone).  The servers are over seas, when you look at the ip adresses/

  Good job Magpie!  If you had an F/X platform I would help you shoot the gap on Sunday/

Fri, 12/21/2012 - 04:08 | Link to Comment magpie
magpie's picture

It helps thinking like a currency trader and to change your timezone, but i am not encouraged to take it up.

Fri, 12/21/2012 - 04:08 | Link to Comment schatzi
schatzi's picture

Yes, great documentary, yet sadly not up-to-date any more.

Some days ago the Spanish Central Bank issued its monthly report: doubtful loans (reported as being 100 billion € in the documentary), has now reached 190 billion. The graph is going vertical. Literally vertical. If I ever start believing main stream media that the worst is behind us, I just need to look at Spain's doubtful loans to know they're full of facetious shit.

Also, you mentioned cement usage/production. Cement production is down another 28% last month and has now reached levels only seen since 1968! That is 45 years ago. The main driver of the economy has now regressed a full generation.

Unemployment is being artificially suppressed by people working for many months without wages, just to prevent a reduction of future unemployment entitlements. The hard truth is, that there are no government programmes or policies to save the ever deteriorating economy. Nothing. Spain's economy is based on tourism and construction. One leg has collapsed and the other suffers from a rigid currency, and competitiveness can only come from wage suppression.

Fri, 12/21/2012 - 05:55 | Link to Comment smacker
smacker's picture

Agree with all that. Another little unknown snippet widely believed outside of "officialdom"is that the Spanish Provinces have never come clean about the full extent of their debts. Meaning that there are many more €billions deeply buried which Madrid doesn't know about.

Fri, 12/21/2012 - 09:00 | Link to Comment tango
tango's picture

But to Tyler's point - the MSM interpretation of events is:  If there is no dire, video-taped, earth-shaking bad news that means things are going good.  In other words, no news is good news. Anyone who has been to Spain, espec the interior, knows that the nation is bifurcated.   The exciting, exploding cities (pun intended)  vs (the majority) 19th centurn village types without running water, good roads, living with their livestock (the lucky ones). 

The same is true of Italy and Greece and Portugal only more so.  Get out of the cities and one finds life circa 1890, that is, folks without modern conveniences whose future is the same as the past.  But man, the food!!!!

Fri, 12/21/2012 - 02:59 | Link to Comment Yen Cross
Yen Cross's picture

Lay off SEER/  We have all been in the barrel. To each his/her own. ---> Foreward ....bitchez

Fri, 12/21/2012 - 04:01 | Link to Comment AnAnonymous
AnAnonymous's picture

Goverments do what free markets expect from them.

Another 'american' article implying there could be other 'american' solutions than the 'american' solution known so far:

the cure for all the ailments of 'americanism' is even more 'americanism'

And again, unfortunately for 'americans', one thing is hard to achieve: bamboozling 'americans' about 'americanism'

Going to be hard to sell any 'solution 'to the 'americans' in Spain.

They are too well aware that as soon as one 'american' solution is adopted, they wont be reported about so soon.

This is how 'americans' conceive help: help must benefit the helper first and all. If as an unintended consequence, help benefits the helped, market it immediately to provide the helper with more people to help.

'Americans' know that though and it is going to be hard to bamboozle them in accepting some help provided by other 'americans'

Fri, 12/21/2012 - 04:05 | Link to Comment magpie
magpie's picture

I was looking for a simpler explanation: Perhaps the Spanish "Americans" have left the citizenism boat to make way for French, Italian and German "Americans", and are on the path back to Latin peasant citizenism.

Fri, 12/21/2012 - 08:40 | Link to Comment Peterus
Peterus's picture

I would like to know if Catalan secession movement is on the dark or light side of this. Is this "divisive americanism in its prime example" or is this "people waking up and standing to americanist bullying"?

Fri, 12/21/2012 - 04:15 | Link to Comment Yen Cross
Yen Cross's picture

 Womb full of chinizm/  We makeism/  crapolaism/   ( diaoyu islands) citizenisms?

   Clear my table,  my egg-rolls are cold/

Fri, 12/21/2012 - 05:29 | Link to Comment Yen Cross
Yen Cross's picture

Right now we pumped a ýard into the system/ watch and learn bitchez/ The trade is about to get crushed!

 The flows are still coming. You will fight for every pip. I going to get really expensive/

Fri, 12/21/2012 - 05:36 | Link to Comment Yen Cross
Yen Cross's picture

I am not in a good mood any more. This melt down is getting worse. Like I crack out my Mossberg pump shotgun /

Fri, 12/21/2012 - 05:40 | Link to Comment smacker
smacker's picture

I watched this documentary a coupla day ago when Aunty first broadcast it in the UK. A good view. The overriding conclusion that I drew from it is that when Spain (and other ClubMed-ers) joined the Eurozone, the political elites in Northern European member states (mainly Germany & France) and in Brussels were determined to make cheap money available to them to get their economies running. The rules of sound economics were abandoned. This not only drove wages and consumer prices in Spain etc up to German levels but also created a huge amount of malinvestment (eg a new airport built in Valencia that has never been used).

All this certainly helped to improve the infrastructure of ClubMed-ers, but it also served to show the world that the EU was a good thing and deserving of support for its greater agenda to create the United States of Europe.

Sadly, there isn't a single Eurocrat who has a clue about sound economics. The rest is history. The elites are now bankrupt and in denial.

Fri, 12/21/2012 - 09:11 | Link to Comment tango
tango's picture

I think you nailed it. There are or were no grand conspiracies, diabolical plots or shady figures running history behind the scenes.  It's all a matter of action and reaction. Western Europe can't seem to learn.   They are uneducable.

Eastern Europe still has fresh memories of life where economic rules were broken 24/7. Poland, Estonia, Bulgaria, etc with recent memories had enough sense to take a deep breath and make painful but necessary economic decisions - reducing the burden of the State, allowing initiative to prosper, etc.

Fri, 12/21/2012 - 11:05 | Link to Comment smacker
smacker's picture

Well, I dunno about conspiracies. But the EU High Command and its apparatchiks have always had an agenda to create the USE, step-by-step - whether the people of Europe want it or not. Documents unearthed from pre-EU days about its creation describe that objective. If there has been a conspiracy, it's been that this objective has proceeded without any one of them (nor the British political elites) ever admitting to it. Even today, you will never hear a new country called Europe mentioned by any of them.

Clearly this was behind the joining of Spain, Portugal, Greece and the assimilation of other smaller European countries into the EU. And it's also true that many of the unelected EU crats in control of the levers of power-politics have a great deal of baggage from Europe's 20th century history of communism/fascism. EG: Barroso was a Maoist Communist in his earlier life and is on record saying more recently "Europe's future is too important to be left to democracy". Angela Merkel came from East Germany and held senior positions in the communist government. Her father was a communist. She went to college in Russia and speaks fluent Russian. She seems to find the concept of democratic accountability difficult to grasp. Hence she ordered the replacement of elected leaders in Italy and Greece with appointed technocrats (ex vampire squid ones at that). And of course Draghi running the ECB is also an ex-vampire squid. As for the French, they were behind the creation of the socialist EU from Day One. France is a big-govt socialist nation, worse than Britain.

There are some EU member states with sense, eg the Czech Republic's President is obviously a free marketeer and has long predicted the problems of a centralised Eurozone. And in Britain, the population are finally becoming increasingly anti-EU and some political elites on the Right are even talking about holding an in/out referendum on the EU, although I believe the Left still wants to proceed because the EU is - more than anything - a socialist construct where political agendas and power-grabbing are higher up the pecking order than economic sanity.

Archive copy of original plans to create a country called "Europe"  http://aei.pitt.edu/14917/1/S82%2D83.pdf

The losers in this are many of the people in Spain/Portugal and Greece. After decades of being governed by socialist/fascist dictators, they longed for the day of joining mainstream Europe. It now seems to have been a dream.

Fri, 12/21/2012 - 05:59 | Link to Comment Yen Cross
Yen Cross's picture

 I will never discuss trades on Zero Hedge /ever again ( i'll discuss ideas)

Fri, 12/21/2012 - 09:13 | Link to Comment tango
tango's picture

Is that a promise you will keep? 

Fri, 12/21/2012 - 23:31 | Link to Comment chinaboy
chinaboy's picture

Zerohedge please let us see more  documentaries like this one.

Thanks.

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