Spain's public debt surpasses 100% in 20-year high

Madrid (AFP) - Spain's public debt rose above 100 percent in the first quarter to its highest level in 20 years, the central bank said Wednesday as Madrid faces an EU sanctions threat for public overspending.

Debt as a proportion of economic output hit 100.5 percent in the first quarter up from 99.2 percent at the end of 2015, the bank said in a statement.

Well said!

In less than 3 1/2 years, oil is very likely to go up and continue skyrocketing (world demand rising in the Far East, world production declining and much more). When that happens, hopefully, Canada won't follow the U.S. dollar to the bottom with the loonie.

OilPrice.com
http://oilprice.com/

Canada will be a net energy exporter. The U.S. is not, and will be producing ever less. Canada could be a solid economic foundation for both countries with lumber, metals, oil and development of better uses of such resources. More college and producer extension services, please (extension papers: how-to documents on wise uses and production of resources). :-)

And hopefully, more Americans will learn the values of much more distributed and sustainable agriculture and industry (examples, open source equipment, more fish farming, back to more small farms, small shops, etc.). It's time to end this wasteful, economy-killing commuter regime.

And a do-it-yourself treat that originated in the U.K. ;-)

Building a "Locost" style sportscar in America
http://www.locostusa.com/

Thanks for posting. Debt drives the socialist agenda.

Socialism Is Legal Plunder

The Results of Legal Plunder

It is impossible to introduce into society a greater change and a greater evil than this: the conversion of the law into an instrument of plunder.

/Bastiat

6. But the grand nostrum will be a public debt…

11. As soon as sufficient progress in the intended change shall have been made, and the public mind duly prepared according to the rules already laid down, it will be proper to venture on another and a bolder step toward a removal of the constitutional landmarks.

/Freneau

DEFUND socialist collectives, foreign and domestic. Watch them whine. It’s easy to…

live - free - republic

How to Identify Legal Plunder

But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.

Then abolish this law without delay, for it is not only an evil itself, but also it is a fertile source for further evils because it invites reprisals. If such a law — which may be an isolated case — is not abolished immediately, it will spread, multiply, and develop into a system.

The person who profits from this law will complain bitterly, defending his acquired rights. He will claim that the state is obligated to protect and encourage his particular industry; that this procedure enriches the state because the protected industry is thus able to spend more and to pay higher wages to the poor workingmen.

Do not listen to this sophistry by vested interests. The acceptance of these arguments will build legal plunder into a whole system. In fact, this has already occurred. The present-day delusion is an attempt to enrich everyone at the expense of everyone else; to make plunder universal under the pretense of organizing it.

/Bastiat

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