Posted on 06/15/2016 10:34:36 AM PDT by familyop
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.
(Excerpt) Read more at yahoo.com ...
Socialism does not work..thump...socialism does not work..thump...socialism does not work..
It could all go south any time. Be prepared.
Socialism works great.
Until, you run out of other peoples money!
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
They forgot to mention that this was all “unexpected”.
To the poster asking if Spain could recolonize parts of South America...this is why not.
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