European Parliament president Martin Schulz said the economic crisis in Spain could spark a “social explosion” across the continent.
When unemployment in countries like Spain is very high and rising, when a housing market has cratered but still has further to fall, and when that sound you hear is the banksters vacuumming money out of the middle class, then a social explosion is a healthy reaction to unhealthy times.
Floodgates open as four more regions in Spain seek bailouts
The bailouts solve nothing and merely pass money around. This is known as pretend-and-extend. None of the underlying problems can be solved by bailouts. The banksters will of course profit by “wetting their beak” every time the money get passed to them. Oh gosh, please excuse me. I certainly would not want to imply that the banksters were in any way criminal. So instead of saying “wet my beak” I suppose we should call it “fees.” yeah, that’s it.
Like I said, the bailouts aren’t working no matter what the talking heads and financial mouthpieces say.
European bloodbath continues as Spanish 2Y bond is crushed to record high spreads
Translation: The difference between the buy and sell price of Spanish 2 year bonds is at all time hights. This means people think the bonds are increasingly risky. Remember, we are talking about bonds from a major industrialized nation here, a country with huge financial links to many other countries.
And the European Parliament and the banks are just moving money around of the deck of the sinking ship.