Hard hitting global and local news
The El Pais Screwdriver Blog openly asks ” Are we to Liberate the Euro? ” Here is a Mish-modified translation: Today Spain has reached a record number of unemployed.
Spain’s Unemployment Rate Rises Full Percentage Point to Record 27.2%; Unemployment Tops 6.2 Million Spain’s budget deficits are out of control, home prices are still falling, GDP is down 2% annualized in the first quarter , production is down, the unemployment rate soared a full percentage point to 27.16%, and a record 6.2 million are out of work. Here are some stats from Spain’s National Statistics Office as noted in the Financial Times . Almost 240,000 people lost their jobs in the first three months of the year.
View article: Utopian Union Fantasy: What If Every California Worker Made What City of Irvine Workers Make?
According to the Bank of Spain and as reported by Libre Mercado , Spain’s GDP Drops at 2% Annualized Rate in First Quarter The Spanish economy fell 0.5% in the first quarter and declined 2% year on year, according to economic bulletin of the Bank of Spain , which estimates a fall of 4.5% of employment in the same period, two tenths less than in the previous quarter. The monetary authority notes that Spain continued the "contraction pattern" of activity in the first quarter, although at a "more muted" than in the final last year, where the GDP contracted by 0.8 % quarterly rate.
U.S. Mint Runs Out of Smallest American Eagle Gold Coin; Is There a Shortage of Physical Gold? Coordinated Smackdown by Naked Shorts
Political Prediction: Merkel Loses Chancellorship in September as Support for AfD Soars Now that we have an Understanding of German Political Parties let’s consider some scenarios from reader Bernd who lives in Germany about how the election on September 22 plays out.
Read More: China PMI barely Above Contraction; Chinese Stocks Slump as Manufacturing Slows
My speech, " A Brief Lesson in History ", is available at Wine Country Conference Speaker Presentations . The videos are the actual presentations, and we are making a couple of them available each week for three weeks
Read more here: Graph Shows Who Is And Who Isn’t Paying Their Fair Share of Taxes
Netherlands is underwater in more ways than one. Der Spiegel reports Underwater: The Netherlands Falls Prey to Economic Crisis More than a decade ago, the Dutch central bank recognized the dangers of [the housing] euphoria, but its warnings went unheeded. Only last year did the new government, under conservative-liberal Prime Minister Mark Rutte, amend the generous tax loopholes, which gradually began to expire in January.