tag:blogger.com,1999:blog-9068633250101025716.post672878260043149404..comments2023-09-29T11:23:38.668+02:00Comments on For what we are... they will be: Spain: massive spontaneous protests continue for 6th dayMajuhttp://www.blogger.com/profile/12369840391933337204noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-9068633250101025716.post-46942474001537932612012-07-17T04:55:43.035+02:002012-07-17T04:55:43.035+02:00I am of the opinion that Spain is more like Irelan...I am of the opinion that Spain is more like Ireland, while Italy would be more like Greece. <br /><br />Spain's debt was very low before the 2008 crash and was still below that of France or Germany until a few weeks ago, before the Bankia bail out. As in Ireland, the bad nationalization of the toxic banks is multiplying the debt problems. Both Ireland and Spain had the opportunity of being like Iceland (rejecting to bail out the banks 100% and only guarantee small depositors) but their governments chose to support the banks against the people at any cost. <br /><br />Instead the problems of Greece and Italy are strictly about the state's snowballing debt, coming from long ago. <br /><br />The main thing that Spain and Greece seem to have in common is that in both cases spontaneous popular reaction in the streets has been quite impressive. In the Greek case this is somewhat logical because Greece holds the most consolidated true left of Europe (even if atomized it was quite impressive, able to rage for days and confront elite police, never mind the thousands of social centers and such) but in the Spanish case, the sociology is not at all lefty with some honorable exceptions. Actually (with all the caveats of atomization of left-wing votes), the conservatives just rolled over in two successive elections, collecting 11 million votes. <br /><br />... "it all sounds like a very big confidence trick".<br /><br />It is indeed: it's like the Goldman Sachs bailout (and the other TBTF in the USA): why can't they just fall and why has the state to be dismantled for the banks to collect those colorful coupons and electronic annotations they call "money"? <br /><br />Why can't the "investors" get their haircut or head-shave or whatever: it's their risks, right? Why all the imposed measures are directed against the citizens and not a single one against the wealthy or the political class, including the king? Why not to save from the Afghanistan deployment? Why does the European Central Bank (our central bank) print money to pay the bill, or at least part of it? Why can the ECB loan to banksters at 1% while states get their loans from those same banksters at usurary rates? <br /><br />Obviously because all is nothing but a pretext for class war from top to bottom, including some German imperialist bloodsucking (the DM-style Eurozone has clearly favored Germany, specially since the 2008 crisis hit).Majuhttps://www.blogger.com/profile/12369840391933337204noreply@blogger.comtag:blogger.com,1999:blog-9068633250101025716.post-13216018854447063972012-07-16T22:53:34.616+02:002012-07-16T22:53:34.616+02:00I have been following events both in Spain and Gre...I have been following events both in Spain and Greece ... I hope that the situation can be eased for the people as soon as possible. But I believe that the IMF and the ECB will not allow for this. Capitalism as we are seeing to one degree or another is in the hands of criminals that have combined with corrupt officials throughout Europe to bring us all to this. Now these self same people want the workers to pay back something we have not purchased, but are told we owe the banks billions Hmmmm it all sounds like a very big confidence trick.Kevinhttps://www.blogger.com/profile/01745148869372246853noreply@blogger.com