Spain is shifting from recession to depression

Discussion in 'Economy' started by Nova78, Aug 27, 2012.

  1. Nova78
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    Nova78 Silver Member

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    » 12 Signs That Spain Is Shifting Gears From Recession To Depression Alex Jones' Infowars: There's a war on for your mind!

    Where have we seen this before? Bond yields soar above the 7 percent danger level. Check. The stock market crashes to new lows. Check. Industrial activity plummets like a rock and the economy contracts. Check. The unemployment rate skyrockets to more than 20 percent. Check. The bursting of a massive real estate bubble pushes the banking system to the brink of implosion. Check. Broke local governments beg the broke national government for bailouts. Check. The international community pressures the national government to implement deep austerity measures which will slow down the economy even more and hordes of violent protesters take to the streets. Check. All of this happened in Greece, it is happening right now in Spain, and mark my words it will eventually happen in the United States. Every debt bubble eventually bursts, and right now Spain is experiencing a level of economic pain that very, very few people saw coming.

    The recession in Spain is rapidly becoming a full-blown economic depression, and at this point there is no hope and no light at the end of the tunnel.
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  2. Plight
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    Plight Rookie

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    We've also been noticing slow downs in the asian markets, and when and all these foreign investors stop buying our bonds, massive loads of inflation will be on the way..something to look forward to :|:clap2:
     
  3. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    well, Germany is urging Spain to live very conservatively within its means. When the world listens to Germany most economic problems will be gone.
     
  4. waltky
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    waltky Wise ol' monkey Supporting Member

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    1 of 4 are unemployed in Spain...
    :eek:
    Spain jobless rate hits new high in third quarter
    26 October 2012 - The unemployment rate in Spain is the highest in the eurozone
     
  5. Sinjorri
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    Sinjorri Senior Member

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    does anyone know how long it will take spain to hit depression at its current rate?
     
  6. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    why be so gloomy?? There is always hope. Depressions are easily stopped dead with capitalist measures!! Capitalism stops depressions that liberals have started and prevents new ones from occuring.
     
  7. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says dat creakin' sound ya hear is the world `bout to fall into dat double-dip recession...
    :eusa_eh:
    Eurozone unemployment rate hits new high in October
    30 November 2012 - Unemployment is highest in Spain, partly due to the collapse in the property market
    See also:

    Economic growth slows in India, Brazil and Canada
    30 November 2012 - Canada's slowdown was in part due to weakening activity in its oil and gas sector
     
    Last edited: Nov 30, 2012
  8. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    no reason to think they will stop buying since as liberal and depressed as our economy is, much of the world is worse.
     
  9. waltky
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    waltky Wise ol' monkey Supporting Member

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    Europe's debt mountain remains a source of anxiety...

    Eurozone crisis: Troubling year ahead
    20 December 2012 - Italy's debt mountain remains a source of anxiety
     
  10. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    but America's is worse because we are just printing money to cover our debt while Europe is learning to live within its means.

    They may well emerge much stronger than we are. And lets not forget they have lower corporate taxes and their personal taxes are less progressive.
     

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