Spain faces 'total emergency' as fear grips markets
 

Was reading about this in paper here last night, they said it was the 23rd straight month that retail prices have dropped there.

If Europeans had enough for the gas bill you'd think they'd go shopping there..

i remember shopping barcelona around 2003 or so. pair of jeans was something insane like $80 for a generic brand.

Could the price be much different in France?

I mean aren't they just one big happy bloque?

A few stories from ZH. I like the last one especially.

http://www.zerohedge.com/sites/defau.../picture-5.jpg
Spanish CDS Over 600bps Sends S&P Under 1300

http://www.zerohedge.com/sites/defau.../picture-5.jpg
Spain: Bankia Down, Who Is Next?

http://www.zerohedge.com/sites/defau.../picture-5.jpg
Spain Is The Most 'Over-Banked' Nation In Europe

You mean there is a limit to other peoples money? I'll be damned.

"Now you be a printer! Go get some ink, and start printin' some more of that shit!"

-Draghi to Bernanke

Well Greece did did run out of ink for there tax forms.

How long can the EU keep up their ink and paper supplies?
Greece Runs Out Of Ink, Can't Print Tax Forms

http://www.zerohedge.com/sites/defau.../picture-5.jpg

You can't make this shit up...what a total joke. Centrally planned economy my ass. Europe is imploding and the USA is next on the hit parade. Got gold?

sounds like the Spaniards bought some road-kill real estate and now it's beginning to stink up the place.

and triple-bagging it won't fix the situation !

hard to feel sorry for greedy people.


i wonder how many Spanish banksters are warming up their Israeli passport, and playing the get out of jail free card.

The Spanish economy has thrived on Northern Europeans buying holiday homes there. It started in the 70's Spain had a weak currency, labor was cheap, and so were living expenses. After Euro entrance, living expenses are pretty much the same as in Northern Europe. House prices in Euro terms followed initaly, they were spiking, and construction was ongoing. Middle agers sold their houses, bought an apartment and invested the difference in a holiday home in the south. Kept the economy going in Spain. It was a good investment as long as new buyers entered. They don't any longer, cause living in Spain is no longer cheap, and house prices are depreciating, there is no new housing construction= mass unemployment= increase in crime, and less people want to have a home there. Spanish banks lended lots of money to developers who now can't sell. Bad, bad, bad spiral!

http://www.zerohedge.com/sites/defau.../picture-5.jpg
Be Afraid Europe, Be Very Afraid - Tim Geithner Is Now "Helping" You

If there was one piece of news that could force an all out panic in a market already on the edge, it is that outgoing (as in finally departing) US Treasury Secretary, Tim Geithner, was getting involved in the European Crisis. Sadly, this is precisely what happened.

• SPAIN DEPUTY PM: US TREASURY'S GEITHNER AGREES TO WORK WITH SPAIN TO RESOLVE BANK CRISIS - DJ
• SAENZ DE SANTAMARIA SAYS GEITHNER URGES SPAIN BANK SOLUTION
• SPAIN'S SAENZ DE SANTAMARIA TOLD GEITHNER OF REFORM EFFORTS
• GEITHNER DISCUSSED SPAIN'S PLANS TO STRENGTHEN FINANCE SECTOR
• SPAIN'S SAENZ DE SANTAMARIA TOLD GEITHNER OF REFORM EFFORTS

Sorry, Europe, you are now doomed.



....
edit,

fixed the above. I am having browser issues.

Trying a different browser (IE). I see the text edit and the tag things for vid pics and links. I could not edit the post above, though.

Updating FF to see if that helps.