• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Rajoy To de Guindos: "Spain Is Not Uganda"

Tyler Durden's picture




 

Yesterday, following the Spanish bailout, we finally concluded that contrary to endless politician lies, Spain is Greece. However, in keeping with the insolvent Eurozone's favorite Hegelian dialectic of definition by exclusion, it appears that Spain's leaders have been forced to aim lower. Literally. As in all the way in Africa. Because according to El Mundo's front page article, the text message that PM Rajoy sent from somewhere deep in Euro2012 to de Guindos, is essentially this: "España no es Uganda." This needs no translation. It also means that the people of Uganda should be happy. Very happy.

Obviously this move should not come as a surprise to anyone. Recall that it was two weeks ago that Nigeria decided to cut its European exposure. Last we checked, it still held on to Ugandan risk.

Sadly, not even The Onion could have come up with a story quite as David Lynchian.

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Sun, 06/10/2012 - 18:22 | 2512844 veyron
veyron's picture

España no es Greece

 

hahaha

Sun, 06/10/2012 - 18:26 | 2512857 BKbroiler
BKbroiler's picture

Espana no es solvente

Sun, 06/10/2012 - 18:29 | 2512860 Colombian Gringo
Colombian Gringo's picture

Niñas ugandeses coge mejor y cuestan menos, pero eso cambiará a medida que la peseta va por el desagüe

Sun, 06/10/2012 - 18:36 | 2512880 AssFire
AssFire's picture

Silly Spaniards... Detroit is Uganda

Sun, 06/10/2012 - 18:38 | 2512886 Ahmeexnal
Ahmeexnal's picture

espan~oles muertos de hambre!
Sancho Ponzi al rescate!

Sun, 06/10/2012 - 19:46 | 2512997 TruthInSunshine
TruthInSunshine's picture

DE RIESGOS perras.
Como Joe Weisenthal, el fundido final, diría, liquidar todas las demás explotaciones y comprar acciones, porque Dow 100.000 está llegando muy pronto!

Dow 100.000
por Charles W. Kadlec
Fecha de publicación: 30 de septiembre 1999

Amazon.com: Dow 100,000

 

Quiero distensión monetaria hasta que sangran los oídos de los contribuyentes!

 

Bankia y Santander están muy bien! No tome su dinero!!!

 

Sun, 06/10/2012 - 20:04 | 2513018 DoChenRollingBearing
DoChenRollingBearing's picture

Rescatanos primero, putaz alemanas!

 

EDIT:

Ver lo que dice el Sr. Panos (en ingles) sobre Grecia y Alemania

Check out what Mr. Panos has to say about Greece and Germany (in English)

http://www.youtube.com/watch?v=Zvl9N9GdraQ

Sun, 06/10/2012 - 20:35 | 2513068 Ahmeexnal
Ahmeexnal's picture

massive jump in silver price at the open

Sun, 06/10/2012 - 21:07 | 2513111 CrazyCooter
CrazyCooter's picture

If this was a caption contest, my submission would be "and we will do this to Merkel!" ... but its not ... but it is the first thing that went through my mind when I clicked through and saw ...

Maybe its just subliminal because I think we are all fucked.

Regards,

Cooter

Sun, 06/10/2012 - 21:57 | 2513166 Hard1
Hard1's picture

Before:

-España no es Grecia.

Result

-Spain becomes Greece

today:

España no es Uganda

Result

Holy crap!

Sun, 06/10/2012 - 22:06 | 2513173 markmotive
markmotive's picture

Yep, Uganda isn't begging for a $125b bailout.

Spain is more like the rest of Europe with a 500% total debt-to-GDP ratio that will sooner-or-later take down China, Japan and the rest of the industrialized world.

http://www.planbeconomics.com/2011/12/19/debt-to-gdp-ratios-uk-900-japan...

Sun, 06/10/2012 - 20:56 | 2513098 New_Meat
New_Meat's picture

DCRB: do you have the equivant challenges that I've had wrt "Quebequoise" francaise vs. "Parisian" francaise?  That is: is the Castillian version of the spannish argot .eq. your local version?  Is there antiphay for the furrinerz?

I'm really interested in the "real-time" of the "local" interpretation/broadcast vs. the "world-wide" broadcast of same in, perhaps, Engrish.

Keep on rollin' dude.

- Ned

Sun, 06/10/2012 - 23:39 | 2513338 Bananamerican
Bananamerican's picture

"Spain is not Uganda"

there it is...

the Official Denial™

Mon, 06/11/2012 - 01:22 | 2513426 upWising
upWising's picture

Bank of Ugaña will be issuing the new currency "engaños" any day now.

Engaño = trap, swindle, etc.

 

Mon, 06/11/2012 - 02:59 | 2513596 tobus
tobus's picture

So based on the history of previous denials we can give Spain 18 months before it decends into bloody tribal genocide or the local equivalent.

It has happened before in Spain within the last 100 years.

Sun, 06/10/2012 - 19:08 | 2512944 Thorny Xi
Thorny Xi's picture

Uganda's a helluva lot better off than Detroit.  And Kampala got high speed Internet service in August 1995.  Before Spain.

Sun, 06/10/2012 - 23:10 | 2513281 Tom Green Swedish
Tom Green Swedish's picture

Uh wtf is Uganda?

Mon, 06/11/2012 - 15:02 | 2515632 Madrid2020
Madrid2020's picture

Dude really? Kampala? Not even Haiti wants that problema.

Mon, 06/11/2012 - 12:55 | 2515194 Madrid2020
Madrid2020's picture

At least there's "HOPE" for Uganda,not so Detriot!

Sun, 06/10/2012 - 18:37 | 2512885 BKbroiler
BKbroiler's picture

ha.  lo espero

Sun, 06/10/2012 - 18:52 | 2512913 Manthong
Manthong's picture

esperoium

Sun, 06/10/2012 - 22:09 | 2513174 spankfish
spankfish's picture

café con piernas... sorry the only Spanish that comes to mind.

Sun, 06/10/2012 - 18:31 | 2512858 Colombian Gringo
Colombian Gringo's picture

Yo Senor, You want to buy my sister....?

Sun, 06/10/2012 - 18:42 | 2512892 Things that go bump
Things that go bump's picture

She''s a virgin?

Sun, 06/10/2012 - 18:44 | 2512899 knukles
knukles's picture

Si!  Many times, senor.

Sun, 06/10/2012 - 19:40 | 2512991 Oracle of Kypseli
Oracle of Kypseli's picture

That reminds me that someone asked a 16 year old blonde girl if she was a virgin and she said: "Not yet" 

Sun, 06/10/2012 - 20:13 | 2513032 The Alarmist
The Alarmist's picture

I once had a Portuguese dude offer me his virgin sister for something on the order of 5,000 Escudos, which was something on the order of $35.

Sun, 06/10/2012 - 20:57 | 2513099 SeattleBruce
SeattleBruce's picture

"sister", huh?

Sun, 06/10/2012 - 21:09 | 2513116 Jake88
Jake88's picture

Ah dumb blonde jokes. Revenge of the homely brunette geeks.

Sun, 06/10/2012 - 21:31 | 2513130 newengland
newengland's picture

No one asked the slut Kypseli brunette who made blonde jokes because her brother knew she wasn't, and her father, and her cousins...silly geisha.

Sun, 06/10/2012 - 22:22 | 2513195 Doña K
Doña K's picture

The young girl must have been a chemical blonde as true blondes are actually smart. 

They are so smart that they dye their roots dark to confuse men.

Sun, 06/10/2012 - 21:57 | 2513165 spankfish
spankfish's picture

Cherry replacement kit on back order?

Sun, 06/10/2012 - 19:58 | 2513016 Harbanger
Harbanger's picture

I can almost see her in your avatar.  Wearing black stockings and spread eagle.  Don't strain my eyes.

Sun, 06/10/2012 - 19:54 | 2513011 SoCalBusted
SoCalBusted's picture

Even an American and read and understand that.

Sun, 06/10/2012 - 20:46 | 2513082 philipat
philipat's picture

Unlike Uganda, Spain doesn;t store the bodies in freezers but just leaves them to rot? Uganda might have had the better approach.

Mon, 06/11/2012 - 12:57 | 2515202 Madrid2020
Madrid2020's picture

They eat them in Uganda,we still have lots of Jamon Iberico here!

Sun, 06/10/2012 - 18:21 | 2512845 CURWAR2012
CURWAR2012's picture

Espana no es Uganda, esta mas peor

Sun, 06/10/2012 - 18:42 | 2512893 Cupid Stunt
Cupid Stunt's picture

Where`s Goebbels when you fuckin need him !

Sun, 06/10/2012 - 18:46 | 2512902 knukles
knukles's picture

He's helping Junker put together a series of Truth Rallies.

Sun, 06/10/2012 - 20:49 | 2513088 HoofHearted
HoofHearted's picture

So, let's try another complete that sentence exercise....

La France n'est pas _______

Sun, 06/10/2012 - 19:45 | 2512999 Oracle of Kypseli
Oracle of Kypseli's picture

"Espana no es Uganda, esta mas peor"

Uganda is to Guate-mala as Espana is to Guate-peor

Sun, 06/10/2012 - 19:58 | 2513014 jcia
jcia's picture

Ya era hora que esta noticia saliera al mundo a trave's de la gran ma'quina de propaganda.

Sun, 06/10/2012 - 18:23 | 2512848 GMadScientist
GMadScientist's picture

That may be so, but it has very similar youth unemployment statistics nonetheless.

Sun, 06/10/2012 - 18:28 | 2512861 hedgehog9999
hedgehog9999's picture

Except in Uganda you can pick fruit and vegetables from wild trees everywhere or hunt for game if you need some meat.

Sun, 06/10/2012 - 19:25 | 2512969 UP Forester
UP Forester's picture

AK's and machetes are cheaper and easier to come by in Uganda.

Sun, 06/10/2012 - 19:30 | 2512973 kekekekekekeke
kekekekekekeke's picture

Mmmm...  bushmeat

Sun, 06/10/2012 - 18:26 | 2512854 XRAYD
XRAYD's picture

He is right, it's not Uganda. But Spain and the rest of Europe could become like another country south of Uganda if they keep on pretending or printing money:  ZIMBABWE!

Mon, 06/11/2012 - 06:54 | 2513764 Lebensphilosoph
Lebensphilosoph's picture

Only if current immigration policies are maintained.

Sun, 06/10/2012 - 18:26 | 2512855 evolutionx
evolutionx's picture
Dummies guide to what went wrong in Europe

Helga is the proprietor of a bar. She realizes that virtually all of her customers are unemployed alcoholics and, as such, can no longer afford to patronize her bar. To solve this problem she comes up with a new marketing plan that allows her customers to drink now, but pay later.


more

http://www.webcompact.net/index.php/news/33665-dummies-guide-to-what-went-wrong-in-europe

Sun, 06/10/2012 - 18:34 | 2512879 LetThemEatRand
LetThemEatRand's picture

One missing part from the story -- the bankers inserted themselves into government just before Helga started borrowing, and they knew all along that a bailout paid for by middle-class taxpayers would be needed.  That was in fact the plan all along.  Meanwhile, they spent years complaining on their captive media that socialists are causing a rise in alcohol consumption, that taxes are too high on their productive business, and that they need fewer regulations.

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