Posted on 09/04/2009 9:27:22 AM PDT by TigerLikesRooster
With highest jobless rate, Spain rallies
Spanish stock index performing surprisingly strong, but some stay away
By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) -- Judging by the amount of road work clogging up Spain's capital city currently, with Madrid practically being unearthed, you'd be forgiven for thinking you were in the midst of a dynamic and growing economy.
However, that's anything but the case. Public works programs have been going on across Spain under the government's so-called "PlanE" bid to stimulate the bleakest economy in Europe, where the jobless rate hit 18.5% in July and is expected to top 20% in 2010 as a decade of growth driven by the now-collapsed housing market painfully unwinds.
Spain is in its fourth straight quarter of recession, with output dropping a sharper-than-expected 1% in the second quarter. Future growth prognosis range from cautiously optimistic at Moody's Investors Service to the downright catastrophic: "Spain is a disaster waiting to happen," says a note from Variant Perception, an institutional research house based in London.
(Excerpt) Read more at marketwatch.com ...
Ping!
Socialism at work: Spain is the economic basket case of the EU.
” I am afraid that this kind of disconnect is a really bad sign. “
Dow is up some 82 points, after the US ‘official’ unemployment rate shot up to 9.7....
The disconnect here is even more dangerous....
All the leftist retard g20 governments around the world will be facing the same thing very soon.
And when the leftist retard bean counters finally figure out that tax revenue from government make work project jobs which were paid for by borrowed taxpayers money in the first place amounts to NOTHING, They will have nowhere to go for more money, except the printing presses.
What fools.
Anyone who believes all the BS media is trying to sell, that the recession is nearly over, that most g20 countries will see some growth within a year, is going to be very dissapointed- and unemployed.
The questions people should be asking the Obamits: if planned economy is better than free market, then (i) why have Europeans failed to anticipate the crises and (ii) do they suffer more than we do?
Ah, but socialism is sooo appealing. We want to be like Europeans now, lattes and all.
After the way spain has treated the U.S. I do not care if spain rots.
Spain also has one of the most disastrous fertility rates in the world. Coincidence?
Not much different from the situation here in the US. Production lags, joblessness rises, and the market rallies. Hope springs eternal in the human breast, and those who can perceive the "green shoots" of recovery believe they are about to be blest.
Have pity upon their greedy little souls.
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