The Spanish Economic Crisis Explained |
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| By: David Seaton Tuesday December 25, 2012 11:43 pm | |
In case you are interested, this hour long documentary from the BBC gives a very workmanlike breakdown of how it all happened.
Spain is the canary in the coal mine for the world’s top economies, because of its large size and its fragility. The story carries lessons for everyone, everywhere. What happens in Spain first can happen later in more robust economies.
Well made and clearly explained, in one hour with this video, you’ll be up to speed.
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11 Comments
Nice piece, Mr. Seaton. Thanks!
I’m surprised the selective quoters who try to hound you off the site they have claimed as their own haven’t shown up yet to call you an Obamabot. (Much as the real Obamabots over at DailyKos actually could get you banned over there.)
Waiting to have a moment to spend an hour listening. I think it starts off speaking a lot about Franco, so not sure how this will translate into our country.
Pathetic, comrade Seaton.
Riddle me this, dear ex-pat: Who convinced all those recht-wing Spaniards to open up the coffers when Franco died? I don’t believe they felt comfortable that a generation of suppression was sufficient to prevent another prole uprising. No, somebody else had to lubricate their hinges.
Now, who’s suffering for that largess?
Some fucking pobre conquistadors – chemical engineers mixing cocktails in Edinborough – is the result.
Crapitalism is fraud.
You had a country that, even when it was the most powerful empire in the world was strapped for cash, suddenly found itself swimming in a river of cheap money and now they wake up with a bad head, a sore dick and an empty wallet. Crapitalism comrade.
Although the Banks are the principle culprits in these tragedies, the masses pay for the banksters’ greed and fraud.
They’ll end up taking us down eventually.
Don’t worry, comrade, the bankers know how to stage a permanent depression as only chronic anxiety. Still, it’d be nice to be able too join the backstage party, no?
p.s. – Have pity on the accidental compradors, comrade, they’re not invited either.
Sorry, “chronic anxiety?” seems to be more to it than that.
Apparently, we’re at the mercy of mad-men. The ruling class thinks that nonsensical, economy-crippling, austerity will save the day.
Crashing the world economy isn’t just staged. It’s a result of unregulated banks, bought-off governments and delusional ideology.
Can’t wait to see how this mess plays out– I love a good disaster.
See, comrade, you’re enjoying the production. The 1% only say awsterity will save your days; it’s tough hope. In reality, the assholes know a permanent depression when they see one.
Snap out of it, comrade.
Comrade, you’re in a tunnel of imbecility and oblivion at blinding speed– in an accelerating bullet train, without pilot or brake, where (obviously) nothing is permanent– including the planetary environment. Take note, these days will live in infamy.
Not if our assailants win.
Yes, I’ve seen it written that the Dark Age wasn’t so bad after all.
The disaster documentary of our own making is unfolding live, and it is unlikely to have a happy ending, regardless of who writes the history books.