Posted on 06/22/2010 10:20:58 AM PDT by Todd Kinsey
On nearly a dozen occasions President Obama has cited Spain as his model for creating a green economy. Yet a report by the Spanish University of Rey Juan Carlos points out what a dismal disaster Spain’s green policy has been.
Spain’s economy is on the verge of collapse, unemployment is rampant, dept is through the roof, and the housing market makes the United States appear robust. But that isn’t stopping the administration from pushing forward legislation that will cripple our economy just as it has Spain’s.
Senator John Kerry who coauthored the bill with Senator Joe Lieberman was interviewed by the Washington Times last week was asked about the Spanish economy and he called it “an anomaly” and “that it was never implemented correctly.” That sounds oddly like what pro communists say when asked why Marxism has never succeeded.
(Excerpt) Read more at examiner.com ...
Funny (or not so funny) how everything the lying usurper is associated with turns into a dismal disaster.
lol ! I was at the Dallas Zoo yesterday..its been wrecked..you can learn more about Mandella than Africa’s animals there...sloppy and unkept...with about a fourth the animals they had 15 years ago...
what a mess. Made me think of this administration.
Put another way-everything Obama touches to sh!t.
The ant-Midas touch, as it were.
Sadly we have a full generation of children who have been raised that “the environment” trumps all concerns, who truly believe that “going green” is the best policy no matter the cost or the unforeseen consequences. It’s the hot advertising phrase for just about everything now. A cleaning service we use occasionally made a big deal about switching over to “green products” a year or two back. I’m not sure we can stop the slide into the same economy Spain has.
Unfortunately I think you’re right but we must fight for what we believe. I pray that we can delay any major legislation until November and that we have the political shift we expect.
“To put it in perspective our ratio of debt to GDP is 94.27% while Spain’s is an insurmountable 270%.”
Although I agree with the gist of the article, his facts are wrong. Spain’s debt to GDP ratio is only 67%, we’re actually in worst shape. The thing that helps us is we can print money and they can’t as long as they’re part of euroland..
According to economist Michael Snyder, Spains’s public and private debt is now 270% of GDP.
If you add private debt to our public debt, it isn’t significantly different from spain’s.
Our private debt is around 120% of GDP, so when you add it to the 97% of public debt you’re up to 217%. And that doesn’t include corporate debt.
Here’s a real time picture of our economy. Note that our personal debt is actually going DOWN.
http://www.usdebtclock.org/index.html
Thanks, I have that bookmarked as well. My apologies for not totaling our debt. We are certainly well down the road of no return I just hope it’s not too late. Thanks for reading. I’ve got a good one on wind power slated for thursday.
Spanish debt is €1 trillion, that is, 100 % of GDP.
Although in theory public debt accounts for just 67 % of GDP, is rapidly rising (11-14 % annually). Moreover, hidden public remains in the regional banks, awaiting a bail out.
However, that is not the point, the point is that unlike the U.S, Spain has not enough production to pay for that. Not just to pay for the actual way of life.
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