Spain’s Economy is Crashing
Protests in Spain have grown over the past week as the country’s Prime Minister, Mariano Rajoy moves closer to asking Europe for financial bailouts.
You may recall that both the economies of Greece and Spain had begun to fail months ago. We, as well as the mainstream media had brought that information to you…
A lot of people around the world began to think that the conditions in both places improved… after all, we stopped hearing about it. No news is good news right?
Wrong. Very wrong.
Since we first brought you the news months ago, the economies in both countries have worsened significantly.
Over the past few weeks, violent anti-austerity protests have broken out in Spain.
These protests have led up to the Prime Minister’s presentation of severe budget cuts to lawmakers there yesterday.
These budget cuts should begin to balance out the terrible economic situation in Spain, but will not fix the situation permanently.
France and Italy have offered Rajoy the opportunity to rely on them for bailouts, but as of now, he has resisted.
The numbers that were released on Tuesday of this week showed that Spain will miss its deficit target of 6.3% of gross domestic product this year. It’s central bank followed up by saying that the economy continued it’s downward spiral significantly in the third quarter.
What does this all mean?
Spain is near total economic and socio-political collapse. It’s people are rioting, there is no money to be had…
They are, as we predicted, Greece part 2… but shockingly, we aren’t hearing much of this from our main media outlets.
Could America be next?