Spain’s economy has collapsed and the country itself will need a ginormous bailout soon. But no one has that much money to spare. The pretend-and-extend teams in Europe and the US, parasites in expensive suits, will no doubt continue to avoid facing reality and keep siphoning money in the form of bogus loans to countries where the money ultimately goes to the international banks. Instead, the whole rotten and corrupt mess needs to be written down and the banks take pennies on the dollar for loans they made and bonds they bought knowing full well it was risky. That’s what will end this mess. Instead, tens of millions are being made to suffer in Greece and now Spain so the banksters can grab just a little bit money.
Spain’s social security fund runs out of money; Full sovereign bailout hits €300 billion;
The Spanish implosion in breathtaking in every way: Human Flight, Capital Flight, Real Estate, Employment, and Taxes. The cost of a full bailout is now €300 billion, up from a preposterously low €30 billion projection in June.