Skip to comments.Spain is in 'total emergency’, the EU in total denial
Posted on 06/03/2012 7:39:52 PM PDT by Texas Fossil
After a Spanish exit from the euro, there would be nothing left to exit from.
Ive never actually heard the term total emergency before, at least not in the context of global economics. It sounds like the title of a disaster movie. When it is uttered in sober tones by the elder statesman of an advanced democracy to describe his countrys financial condition, the effect is rather startling.
The man who delivered this apocalyptic judgment, former Spanish prime minister Felipe González, being a socialist, might be expected to detest austerity programmes that require cuts to government spending. But there seemed to be few disinterested observers of Spains economy prepared to quibble with his assessment.
(Excerpt) Read more at telegraph.co.uk ...
Will there be capital flight to elsewhere in the world? Of course.
If anyone other than our Commie-in-Chief were in charge in the US, that flight would probably be to the US Dollar.
Now the question: How long have the players been planning this and are we capable of repelling the assault on our nation and the world economy.
We are not the protectors of the world economy, but if the US fails after the EU what are the consequences.
George Washington warned us against foreign entanglements in Europe. Is the nation so old that no one remembers his statements?
Who IS Spain? Government/Government Users? Catalan Opening?
Who IS the “U.S.” ?
Who IS “Greece” ?
Hug your kids and get ready.
Watch for present bank run to accelerate.
What DO you mean?
Thanks Texas Fossil.
Wouldn’t it be funny, in a sort of diabolical way, if the first and last REAL presidents of the USA were both George W?
Governments of Spain, Greece and yes of the US.
We have financial global entanglements. Have for many years. It got a lot more complicated and dirty since Smiling John Conley negotiated floating the dollar in the 1980’s. Stopped government conversion to silver.
Shudder to think of the consequences.
Other beneficiaries have been Switzerland (although the Swiss Franc has been driven up so much that the Swiss government has been forced to print to try and drive the Franc back down, it was killing their largely export oriented economy), the Canadian Dollar and the Australian dollar. Some benefit to certain South American countries that have commodity based economies but not quite so pronounced, Brazil for the most part.
I've been of the opinion that the Euro won't be allowed to fail and still am, but the level of almost hysterical rhetoric has gone mainstream, rather than remaining the purview of writers of blog headlines, so I'm going to have to take a long hard look at currency exchange rates tomorrow.
The Spanish folded like lawn chairs when the muzzies gave them a little push. Just drama queens, nothing to see here.
"Miss Me Yet?"
Spain just needs more “green jobs”. And unicorns.
Thanks for the perspective.
Ann Barnhardt has been warning for months about a collapse in the commodities trading market. Advising her customers of the past to maintain physical possession of their commodities.
And for the really wild stuff like derivatives, that is a real wild card.
Bank run? Explain. Where is it happening.
Shutdown vs. Government Extortion and/or Deficits.
I am certainly not laughing at this. It would be ironic.
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