It didn't take the Spanish economy 150 yrs. to shipwreck. It happened within a matter of decades after the New World treasures were found.Decades is all it takes for a society to die after they quit innovating. Look at us between the 50s and the 70s. We were going downhill in a hurry until Reagan.
And it wasn't because of lack of innovation but the effects on property values and commodities due to a vastly increased money supply.
Not according to dicostu's source. Inflation was only a fraction of a percent. There economy became a service economy, no need to export when you steal a nation's treasure.
Britain did not end up with the Spanish gold. In fact, by 1692 it was forced to charter the Bank of England to supply a money supply. It had no significant empire until decades later.
It takes a while to significantly lurch ahead of the times, decades sounds right.
Foreigners do not control the fed. or the Bank of England or any other central bank. To maintain that they do is merely false and irrelevent.
Nope they don't control it, but they get rich off it. I don't control the company I work for, but I make money off it.
You have some silly ideas. Are you unaware that any profit from the federal reserve operations are turned over to the U.S. Treasury?
I think it's silly to have Germans give us our money.
Working in a mine is nasty, dangerous business and would be the hardest most unpleasant work 90% of the workforce ever performed.
So is joining the Marines. That's why miners are a proud people, real men doing a real man's job.
Uhh, so all that inventing of things like space vessels and the microchip was not "innovation". All of the technology you are now using to be an annoying uneducated twit, except the telephone if you're using dialup, was first invented or perfected in that "downhill" 50s thorugh 70s you mention. Now during the Carter administration we completely lost our way and Reagan saved us from that and certain other missteps we took during the era you mention. But to say that time period lacked innovation is to live in total ignorance.
Spain was never a country of innovations for several reasons and that had nothing to do with its decline as a world power.
We were not rapidly going downhill before Reagan and were innovating rapidly during all that period you named.
Where do you get the idea that Spain ever exported much of anything? It didn't and was never an economic power.
Your "lurch" comment lurches into insensibility. I have no idea what you mean.
How do foreigners get rich off the Fed.? How do Germans give us our money? We have a trade deficit with them so we are sending them our money not the other way around. Same with the Japanese.
Miners now are women too and those jobs are still hideously hard and dangerous. What the Marines have to do with this is beyond me but I am not surprised they were dragged into your posting.