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(The New York Times)   European stocks drift lower on news of Spanish recession [JARRING CHORD]   (nytimes.com ) divider line 26
    More: Interesting, Spanish, government finance, index futures, Hang Seng, May Day, British pound, Euro Stoxx 50, ASX  
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360 clicks; posted to Business » on 30 Apr 2012 at 11:15 AM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



26 Comments   (+0 »)
   
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2012-04-30 09:58:36 AM  
I didn't expect the Spanish Recession.
 
2012-04-30 10:17:00 AM  
actually, i think pretty much everybody expected a spanish recession.
 
2012-04-30 10:29:32 AM  
Recession? haha They have 25% unemployment right now.
 
2012-04-30 11:03:31 AM  
NOBODY expects the Spanish Receswsion! Amongst our weaponry are such diverse elements as: fear, surprise, ruthless efficiency, an almost fanatical devotion to the Pope, and nice red uniforms - Oh damn!
 
2012-04-30 11:19:31 AM  
So, they'll be selling the comfy chair? I could use one.
 
2012-04-30 11:21:51 AM  
Cardinal Biggles, poke him with the soft cushion!
 
2012-04-30 11:29:40 AM  

Mentat: Recession? haha They have 25% unemployment right now.


yeah, austerity during a recession or a tenuous recovery is pretty much the opposite of what the doctor ordered. it's already sent britain into a double-dip.
 
2012-04-30 11:33:25 AM  
Jarring chord. Like that awful sound Windows makes when you boo-boo?

It's like the L&O chunk-chunk in reverse.
 
2012-04-30 11:41:24 AM  

Galloping Galoshes: Cardinal Biggles, poke him with the soft cushion!


content6.flixster.com
 
2012-04-30 11:56:32 AM  

Mentat: Recession? haha They have 25% unemployment right now.


farked up doesn't even begin to cover the Spanish situation: if you're under 25, the unemployment rate shoots to 45%!!! It's no wonder we're getting a steady and rising flow of young spaniard immigrants in South America...
 
2012-04-30 12:06:03 PM  
has anyone mentioned that no one suspects a recession of Spanish origin?
 
2012-04-30 12:16:35 PM  

FlashHarry: Mentat: Recession? haha They have 25% unemployment right now.

yeah, austerity during a recession or a tenuous recovery is pretty much the opposite of what the doctor ordered. it's already sent britain into a double-dip.


Given their borrowing costs, what else would you suggest that they do?
 
2012-04-30 12:22:50 PM  

FlashHarry: Mentat: Recession? haha They have 25% unemployment right now.

yeah, austerity during a recession or a tenuous recovery is pretty much the opposite of what the doctor ordered. it's already sent britain into a double-dip.


Countries spend themselves into mega debt, cut back some, but yeah the problem is that they're only running large deficits, not unearthly deficits.
 
2012-04-30 12:36:42 PM  
So, they'll be selling the comfy chair? I could use one.


NOT the Comfy chair !

/// gnashes teeth
 
2012-04-30 12:58:30 PM  

MugzyBrown: FlashHarry: Mentat: Recession? haha They have 25% unemployment right now.

yeah, austerity during a recession or a tenuous recovery is pretty much the opposite of what the doctor ordered. it's already sent britain into a double-dip.

Countries spend themselves into mega debt, cut back some, but yeah the problem is that they're only running large deficits, not unearthly deficits.


Spain ran surpluses 2004 to 2007 of over 2% of GDP annually; its surplus in 2007 was the second largest in Europe (€24 billion)
 
2012-04-30 01:17:51 PM  

YixilTesiphon: FlashHarry: Mentat: Recession? haha They have 25% unemployment right now.

yeah, austerity during a recession or a tenuous recovery is pretty much the opposite of what the doctor ordered. it's already sent britain into a double-dip.

Given their borrowing costs, what else would you suggest that they do?


Not to mention how uncompetitive these markets are. Borrowing to keep the Greek people retiring at 50? That's a losing game. The austerity gives a reason to slice and dice the welfare system, they're keeping key institutions afloat while union-busting.

Printing money for more of the same is just kicking the can down the road. Europe needs to get lean and mean, shed this utopian horseshiat.

High-standards of living need to be earned.
 
2012-04-30 01:24:57 PM  

YixilTesiphon: FlashHarry: Mentat: Recession? haha They have 25% unemployment right now.

yeah, austerity during a recession or a tenuous recovery is pretty much the opposite of what the doctor ordered. it's already sent britain into a double-dip.

Given their borrowing costs, what else would you suggest that they do?


If they were the US, their Fed would buy their own debt with money it printed, thus driving down the cost and avoiding the whole, "Hey, nobody wants to lend us money" problem. That tactic never ends badly.
 
2012-04-30 01:28:18 PM  

FlashHarry: yeah, austerity during a recession or a tenuous recovery is pretty much the opposite of what the doctor ordered. it's already sent britain into a double-dip.


Britain is in a double-dip because their exports to the rest of the eurozone are down ~25%. There isn't any money left in the other countries to buy anything Britain makes.
 
2012-04-30 02:05:19 PM  
Man, they just need some Spanish Fly to get their economy to perk right up and get over this hard hump.
 
2012-04-30 02:13:56 PM  
Will there be an inquisition?
 
2012-04-30 02:35:48 PM  

MaudlinMutantMollusk: Will there be an inquisition?


It is quite possible that the state lashes out and creates laws that allow for them to confiscate the property and wealth of select people. What you think inquisition was about persecuting the jews and other "non believers"? No, it was a property grap to fill the state and church's coffers.
 
2012-04-30 02:40:55 PM  
Better the Inquisition than the war of Spanish succession, but I think impressionism is the root cause of this recession.
 
2012-04-30 04:06:58 PM  
The pain in Spain is not that hard to 'splain.


Lucy
 
2012-04-30 06:52:14 PM  

YixilTesiphon: FlashHarry: Mentat: Recession? haha They have 25% unemployment right now.

yeah, austerity during a recession or a tenuous recovery is pretty much the opposite of what the doctor ordered. it's already sent britain into a double-dip.

Given their borrowing costs, what else would you suggest that they do?


Start selling off their excess North Africans into the international market?
 
2012-04-30 07:20:47 PM  

dumbobruni: MugzyBrown: FlashHarry: Mentat: Recession? haha They have 25% unemployment right now.

yeah, austerity during a recession or a tenuous recovery is pretty much the opposite of what the doctor ordered. it's already sent britain into a double-dip.

Countries spend themselves into mega debt, cut back some, but yeah the problem is that they're only running large deficits, not unearthly deficits.

Spain ran surpluses 2004 to 2007 of over 2% of GDP annually; its surplus in 2007 was the second largest in Europe (€24 billion)


Spain was destroyed by the housing bust. It had nothing to do with socialism or anything that the right usually likes to point to.
 
2012-04-30 08:00:29 PM  
I see this as a TEF buying opportunity. :)
 
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