Tuesday, May 1, 2012

22 Signs That The Collapsing Spanish Economy Is Heading Into A Great Depression

What happens when debt-fueled false prosperity disappears?  Just look at Spain.  The 4th largest economy in the eurozone was riding high during the boom years, but now the Spanish economy is collapsing with no end in sight.  When a debt bubble gets interrupted, the consequences can be rather chaotic.  Just like we saw in Greece, austerity is causing the economy to slow down in Spain.  But when the economy slows down, tax revenues fall and that makes it even more difficult to meet budget targets.  So even more austerity measures are needed to keep debt under control and the cycle just keeps going.  Unfortunately, even with all of the recently implemented austerity measures the Spanish government is still not even close to a balanced budget.  Meanwhile, the housing market in Spain is crashing and unemployment is already above 24 percent.  The Spanish banking system is a giant, unregulated mess that is on the verge of a massive implosion, and the Spanish stock market has been declining rapidly.  The Spanish government is going to need a massive bailout and so will the entire Spanish banking system.  But that is going to be a huge problem, because the Spanish economy is almost 5 times as large as the Greek economy.  When the Spanish financial system collapses, the entire globe is going to feel the pain and there will be no easy solution.
So just how bad are things in Spain at this point?
The following are 22 signs that the collapsing Spanish economy is heading into a great depression....
#1 The unemployment rate in Spain has reached 24.4 percent - a new all-time record high.  Back in April 2007, the unemployment rate in Spain was only 7.9 percent.
#2 The unemployment rate in Spain is now higher than the U.S. unemployment rate was during any point during the Great Depression of the 1930s.
#3 According to CNBC, some analysts are projecting that the unemployment rate in Spain is going to go above 30 percent.
#4 The unemployment rate for those under the age of 25 in Spain is now a whopping 52 percent.
#5 There are more than 47 million people living in Spain today.  Only about 17 million of them have jobs.
#6 Retail sales in Spain have declined for 21 months in a row.
#7 The Bank of Spain has officially confirmed that Spain has already entered another recession.
#8 Last week, Standard & Poor's Ratings Services slashed Spain's credit rating from A to BBB+.
#9 The yield on 10-year Spanish bonds is up around 6 percent again.  That is considered to be very dangerous territory.
#10 Two of Spain's biggest banks have announced that they are going to stop increasing their holdings of Spanish government debt.
#11 Of all the loans held by Spanish banks, 8.15 percent are considered to be "bad loans".
#12 The total value of all bad loans in Spain is equivalent to approximately 13 percent of Spanish GDP.
#13 Of all real estate assets held by Spanish banks, more than 50 percent of them are considered to be "troubled" by the Spanish government.
#14 That total amount of money loaned out by Spanish banks is equivalent to approximately 170 percent of Spanish GDP.
#15 Home prices in Spain fell by 11.2 percent last year, and the number of property repossessions in Spain rose by a staggering 32 percent during 2011.
#16 Spanish housing prices are now down 25 percent from the peak of the housing market and Citibank's Willem Buiter expects the eventual decline to be somewhere around 60 percent.
#17 It is being projected the the economy of Spain will shrink by 1.7 percent this year, although there are some analysts that feel that projection is way too optimistic.
#18 The Spanish government has announced a ban on all cash transactions larger than 2,500 euros.
#19 One key Spanish stock index has already fallen by more than 19 percent so far this year.
#20 The Spanish government recently admitted that its 2011 budget deficit was much larger than originally projected and that it probably will not meet its budget targets for 2012 either.
#21 Spain's debt to GDP ratio is projected to rise by more than 11 percent during 2012.
#22 Worldwide exposure to Spanish debt is estimated to be well over a trillion euros.
Spain is going down the exact same road that Greece went down.
Greece is already suffering through a great depression and now Spain is joining them.  The following is from a recent BBC article....
"In Spain today, a cycle similar to Greece is starting to develop," said HSBC chief economist Stephen King.
"The recession is so deep that when you take one step forward on austerity, it takes you two steps back."
In Spain right now there is a lot of fear and panic about the economy.  In many areas, it seems like absolutely nobody is hiring right now.  The following is from a recent USA Today article....
"The situation is very bad. There's no work," said Enrique Sebastian, a 48-year-old unemployed surgery room assistant as he left one of Madrid's unemployment offices. "The only future I see is one with wages of €400 ($530) a month for eight-hour days. And that's if you can find it."
But Spain is just at the beginning of a downward spiral.  Just wait until they have been through a few years of economic depression.  Once that happens, millions of people begin to lose all hope.  A recent Reuters article discussed the epidemic of suicides that is happening in Greece right now....
On Monday, a 38-year-old geology lecturer hanged himself from a lamp post in Athens and on the same day a 35-year-old priest jumped to his death off his balcony in northern Greece. On Wednesday, a 23-year-old student shot himself in the head.
In a country that has had one of the lowest suicide rates in the world, a surge in the number of suicides in the wake of an economic crisis has shocked and gripped the Mediterranean nation - and its media - before a May 6 election.
And you know what?
The nightmares that we are seeing unfold in Spain and Greece right now are just a preview of what is coming to most of the rest of the world.
The next wave of the economic crisis will soon envelop the United States, Japan and the rest of Europe.
When it strikes, the pain will be immense.
But it won't be the end - it will only be just the beginning.
The global financial system is starting to crumble.
You better get ready.

45 comments:

Anonymous said...

Simply wish to assume the post is as amazing. The clearness in
just post is simply cool and i can assume you may be a proficient
on this issue. Well using your permission let us
to grab your RSS feed keep up current with forthcoming post.
Thanks a million and please maintain the gratifying work.
my webpage - xanga.com

Anonymous said...

Very good written article. It will be helpful
to anybody who utilizes it, as well as me.


Keep doing what you are doing - for

sure i will check out more posts.
Stop by my web-site : doloresproperty.com

Anonymous said...

After study a couple of of the weblog posts in your

web site now, and I really like your method of blogging. I

bookmarked it to my bookmark web site listing and will be checking again soon.
Pls take a look at my web site as well and let me know what you think.
Also visit my blog ; http://www.alboxproperty.com/index.html

Anonymous said...

hello!,I like your writing very much! share we communicate more about your post
on AOL? I

require a specialist on this area to solve my problem.
Maybe that's you! Looking forward to see you.
Here is my blog spain vs ireland players

Anonymous said...

My brother suggested I might like this blog. He was totally right.
This post

actually made my day. You can not imagine just how much time I had spent for
this

info! Thanks!
My page :: http://www.spainproperty.us

Anonymous said...

I just like the helpful info you supply for your


articles. I will bookmark your weblog and test again right here

regularly. I'm quite sure

I’ll be informed many new stuff right right

here! Best of luck for the following!
Feel free to visit my page go4pr.de

Anonymous said...

I just could not depart your site prior to suggesting that I

actually enjoyed the standard information a person provide for your visitors?
Is going to be back often to check up on new posts
Also see my website :: spain english language newspaper

Anonymous said...

I am curious to find out what blog platform you have been using?
I'm experiencing some small security issues with my latest

blog and I would like to find something more risk-free. Do you have any solutions?
Here is my blog post : bandeaux

Anonymous said...

Hello There. I found your blog using msn. This is an extremely well written article.
I’ll

be sure to bookmark it and come back to read more of your useful information.
Thanks for the

post. I’ll definitely return.
My page - click the following internet site

Anonymous said...

Hi there, simply turned into aware of your weblog

through Google, and found that it is truly informative.

I’m gonna

watch out for brussels. I will be grateful when you continue this in future.
Numerous folks will probably be benefited

out of your writing. Cheers!
Feel free to surf my blog post :: mainefishingforums.com

Anonymous said...

naturally like your web-site but you need to

check the spelling on several of your posts. Many of them are rife with

spelling problems and I find it very troublesome to tell the

truth nevertheless I’ll certainly come

back again.
Feel free to visit my page http://www.costablancaspain.us

Anonymous said...

Write more, thats all I have to say. Literally, it
seems as though you relied on the video to make your point.
You

obviously know what youre talking about, why waste your
intelligence on just posting

videos to your blog when you could be giving us something enlightening to read?
Feel free to visit my website ... http://antequeraproperty.soup.io/

Anonymous said...

Hey there! This post could not be written any better!


Reading this post reminds me of my old room mate!

He always kept talking

about this. I will forward this post to him. Pretty sure
he will have a good read.

Many thanks for sharing!
Feel free to surf my blog post ... stagger

Anonymous said...

The root of your writing while appearing agreeable

originally, did not settle properly with me after some time.
Somewhere within the paragraphs you were able to make me a believer
but only for a short

while. I nevertheless have got a problem with your jumps in logic and

one might do well to help fill in those breaks.

If you actually can accomplish that, I could certainly be fascinated.
My web page - Www.Dickersonowners.Org

Anonymous said...

Today, I went to the beachfront with my kids. I found a sea shell
and gave it to my 4 year

old daughter and said "You can hear the ocean if you put this to your ear."
She placed the shell to her ear and

screamed. There was a hermit crab inside
and it pinched her ear. She never wants to go back!
LoL I know this is

completely off topic but I had to tell someone!
Here is my web site :: http://www.urbanweedsblog.com/2012/12/helene-at-bridgeport-portland-oregon.html

Anonymous said...

Spot on with this write-up, I really suppose this website wants


far more consideration. I’ll in all probability be once

more to learn way more, thanks for that info.
my web site > simply click the up coming website

Anonymous said...

Thank you a lot for providing individuals with an

extraordinarily marvellous chance to check tips from this blog.
It can be

very beneficial and also jam-packed with amusement for me and my office

acquaintances to search the blog a minimum of 3 times per week to

study the fresh stuff you will have. Not to mention,

I'm also certainly

satisfied considering

the remarkable strategies served by you. Certain 2

points on this page are particularly the simplest we have ever had.
Feel free to visit my blog post http://kollonades.blogspot.ru/2008/02/bromes-de-mal-gust.html

Anonymous said...

I have not checked in here for some time as I thought it was
getting boring, but the

last several posts are great quality so I guess I’ll
add you back to my daily bloglist.

You deserve it friend :)
Feel free to surf my web blog - http://mylittlecreeper.dk/

Anonymous said...

I'm still learning from you, but I'm making my way to the top as well.

I certainly love reading all

that is posted on your site.Keep the posts coming. I liked it!
my site > E-Jobs-Observatory.eu

Anonymous said...

wonderful post, very informative. I wonder why the other experts of

this sector do not notice this. You must continue your
writing. I am confident,

you've a great readers' base already!
Feel free to visit my homepage :: http://www.dogamingblog.co.za

Anonymous said...

advertising
Have a look at my web-site : projecteatpraylive.blogspot.ru

Anonymous said...

Pretty nice post. I just stumbled upon your blog and wished to say that I
have

truly enjoyed surfing around your blog posts.
In any case I will be subscribing to your

rss feed and I hope you write again very soon!
Here is my website : dinges-frick.de

Anonymous said...

Good post. I learn something more challenging on different blogs everyday.
It is going to at all times be stimulating to learn content material from different

writers and apply somewhat

one thing from their store. I’d desire to make use of some with the

content on my weblog whether you don’t mind.

Natually I’ll offer you a link in your web blog. Thanks
for sharing.
Here is my blog ; lifeprofit.com

Anonymous said...

Thanks for every other informative website.
Where else could I am getting that kind of info written in
such a

perfect means? I've a challenge that

I am simply now running on, and I have been at the look out for

such information.
Here is my site ... http://www.sosiohumaniora.unpad.ac.id/?p=757

Anonymous said...

Great website. A lot of useful

info here. I am sending it to several friends ans also

sharing in delicious. And obviously, thanks to your

effort!

Also visit my page http://yfuqgvapj.unthte.sdconxjiy.fiqjysnf.forum.mythem.es
Also see my web site :: www.dalryba.ru

Anonymous said...

Hello there, I found your website via Google while looking for a related topic,


your site came up, it looks good. I've bookmarked it in my google bookmarks.
Also visit my blog post ; http://zakladki.no1.mielno.pl/search.php/all/הטלוויזיה על פי D1D1: שלב סיכום עונה: Person Of.

Anonymous said...

I precisely wanted to say thanks yet again. I do not know
the

things I would have done without the entire advice revealed by you over

this subject. It seemed to be an absolute fearsome

case in my opinion, nevertheless being able to

see a specialised manner you resolved that

forced me to weep for delight. Now i am grateful for this help and as well , trust

you know what an amazing job you are always putting in

teaching the others with

the aid of your site. Probably you haven't met any of us.
My web blog : dnouglubitelnye-raboty.bosa.org.ua

Anonymous said...

Great post. I was checking continuously this blog and
I'm impressed! Very

useful information particularly the last part :) I care for such

information a lot. I was looking for this particular information for a very

long time. Thank you and good luck.
Here is my web page - http://www.itwpa.com

Anonymous said...

What i do not realize is actually how you are not actually much more well-liked
than

you may be now. You're very intelligent. You realize therefore

significantly relating to this subject, made me personally consider it from so many varied angles. Its like men and women aren't fascinated
unless it is one thing to

accomplish with Lady gaga! Your own stuffs nice.

Always maintain it up!
My website :: acmcustomdesign.com

Anonymous said...

I savour, lead to I found exactly what I used to be looking
for. You have ended my four day long hunt! God Bless
you man. Have a great day. Bye
Visit my web page : http://inside-geography.blogspot.fr/

Anonymous said...

Have you ever thought about writing an e-book or guest
authoring on other

sites? I have a blog centered on the same ideas you

discuss and would really like to have you share some stories/information.

I know my readers would appreciate your work.

If you are even remotely interested, feel free to

shoot me an email.
Also see my website: http://Homeschooloftheblogosphere.Blogspot.ru/

Anonymous said...

I have read so many content concerning the blogger
lovers however this piece of writing is in fact a nice paragraph, keep
it up.

Have a look at my web-site - 92714

Anonymous said...

Unquestionably consider that which you stated. Your

favorite justification appeared to be at the net the

simplest thing to take into accout of. I say to you,
I certainly get irked whilst other people think about worries that they
just don't realize about. You

managed to hit the nail upon the top and also defined out the

whole thing with no need side effect ,

people could take a signal. Will likely be back to get more. Thanks
Also see my webpage: http://www.littlebirdfashion.com/2012/11/a-guide-to-winter-woollies.html

Anonymous said...

I cherished up to you will obtain carried out right here.
The cartoon is tasteful, your authored material

stylish. nonetheless, you command get bought an nervousness

over that you wish be handing over the following.

unwell certainly come more beforehand again

as precisely the similar just about a lot ceaselessly inside of case you protect this hike.
Also visit my homepage ... paulltravel.com

Anonymous said...

Nice post. I learn one thing tougher on completely different blogs everyday.
It is going to at all times be stimulating to read content from other

writers and practice a little

something from their store. I’d choose to use some with the

content material on my weblog whether or not you don’t mind.
Natually I’ll offer you a hyperlink in your net blog.
Thanks for sharing.
Also see my website > socialcircle.stock-options-picks.com

Anonymous said...

Hi there, I found your site via Google while looking for
a related topic,

your site came up, it looks great. I have bookmarked it in my google bookmarks.
Check out my blog post ... ajgbfkn.pdyeswnm.ofnrkx.zxvfxd.vzapc.forum.mythem.es

Anonymous said...

Hey! I could have sworn I've been to this blog

before but after browsing through some of the post I realized it's new to me.
Anyways, I'm definitely happy I found it and I'll be bookmarking and checking back

frequently!
my web page: http://catalog.cixx6.com

Anonymous said...

You actually make it seem really easy along with your

presentation however I find this topic to be really one thing

which I think I might by no means understand.
It sort of

feels too complicated and extremely vast for me.
I am

looking ahead on your next submit, I’ll try to get the hang of it!
My site - http://authenticlinks.com/

Anonymous said...

I have recently started a website, the info you offer on
this site has helped me tremendously. Thank you for all
of your time & work.
my webpage: http://xuhfiu.bbs.mythem.es/inconcino/claquiez/bakelitten

Anonymous said...

I appreciate, cause I found exactly what I was looking for.

You've ended my 4 day long hunt! God

Bless you man. Have a great day. Bye
My site > http://Www.Elpoderdelcibao.com/2013/03/un-nino-de-8-anos-se-casa-con-una-mujer.html

Anonymous said...

advertising
My website yxjwmit.fubjnmmd.sncvfv.forum.mythem.es

Anonymous said...

I'm very happy to read this. This is the kind of manual that needs to be given and not the

accidental misinformation that is at the other blogs. Appreciate your sharing this best doc.
Feel free to surf my website ; www.authenticlinks.com

Anonymous said...

Keep working ,terrific job!

Here is my web-site: certpc.co.uk

Anonymous said...

Great beat ! I would like to apprentice whilst you amend your site, how can i subscribe for a weblog site?
The account helped me a applicable deal. I were a

little bit familiar of this your broadcast offered vibrant

transparent concept

Also visit my website ... rafa.ninehub.com

Anonymous said...

The write-up pгovіdеs estаblished benefiсial to us.

It’s very infοrmative and you're simply obviously extremely experienced in this field. You have opened up our face for you to varying views on this particular matter using intriquing, notable and sound written content.
Also visit my web page - clonazepam