Comments on: The Elephant in the Room Is Spain, Not Italy http://www.creditwritedowns.com/2012/02/the-elephant-in-the-room-is-spain-not-italy.html Finance, Economics and Markets Wed, 23 May 2012 01:55:46 +0000 hourly 1 By: JOSE http://www.creditwritedowns.com/2012/02/the-elephant-in-the-room-is-spain-not-italy.html#comment-80837 JOSE Wed, 08 Feb 2012 22:51:11 +0000 http://www.creditwritedowns.com/?p=41883#comment-80837 It is quite interesting and you are right in most of the issues described, but there are many other factors not consider: 1. Percentage of the 20% unemployment, who are working in black market. 2. Percentage of "black economy", that could be around 20% of the total. It means, there are lot of people not paying taxes, including VAT. 3. It is still possible to reduce the expenses in Health ( which is very, very unneficient, and make it more similar to EU coutries). 4. While Arab-Spring is still on-going, more turists are coming to Spain ( which means 10-15% of incomes ). 5. Reducing the duplicity between central and regional government institutions, saving lot of expenses. What I mean, is that not the "figures" are showing the real truth. People in any conuntry with a "real" 20% unemployment could not stay quite and calm at home. It is quite interesting and you are right in most of the issues described, but there are many other factors not consider:
1. Percentage of the 20% unemployment, who are working in black market.
2. Percentage of “black economy”, that could be around 20% of the total. It means, there are lot of people not paying taxes, including VAT.
3. It is still possible to reduce the expenses in Health ( which is very, very unneficient, and make it more similar to EU coutries).
4. While Arab-Spring is still on-going, more turists are coming to Spain ( which means 10-15% of incomes ).
5. Reducing the duplicity between central and regional government institutions, saving lot of expenses.

What I mean, is that not the “figures” are showing the real truth.
People in any conuntry with a “real” 20% unemployment could not stay quite and calm at home.

]]> By: David Lazarus http://www.creditwritedowns.com/2012/02/the-elephant-in-the-room-is-spain-not-italy.html#comment-80836 David Lazarus Wed, 08 Feb 2012 19:25:39 +0000 http://www.creditwritedowns.com/?p=41883#comment-80836 The problem for Spain is that its highly skilled graduates will emigrate many never to return. That will create demographic problems in decades to come for Spain. The policy needs to change before the periphery become new third world countries. The problem for Spain is that its highly skilled graduates will emigrate many never to return. That will create demographic problems in decades to come for Spain. The policy needs to change before the periphery become new third world countries.

]]> By: Current Mortgage Rates for Wednesday, February 8, 2012 | Mortgage Rates & Trends: Mortgage Blog http://www.creditwritedowns.com/2012/02/the-elephant-in-the-room-is-spain-not-italy.html#comment-80834 Current Mortgage Rates for Wednesday, February 8, 2012 | Mortgage Rates & Trends: Mortgage Blog Wed, 08 Feb 2012 18:05:36 +0000 http://www.creditwritedowns.com/?p=41883#comment-80834 [...] Credit Writedowns: The elephant in the room is Spain, not Italy. “Turning states like Spain into sundrenched economic wastelands within the Eurozone, and forcing the rest of the currency area into a debt-deflationary spiral, is a most efficient way of blowing up the whole system and possibly threatening the very existence of Spanish liberal democracy itself”. [...] [...] Credit Writedowns: The elephant in the room is Spain, not Italy. “Turning states like Spain into sundrenched economic wastelands within the Eurozone, and forcing the rest of the currency area into a debt-deflationary spiral, is a most efficient way of blowing up the whole system and possibly threatening the very existence of Spanish liberal democracy itself”. [...]

]]> By: Austin Power http://www.creditwritedowns.com/2012/02/the-elephant-in-the-room-is-spain-not-italy.html#comment-80828 Austin Power Wed, 08 Feb 2012 05:30:19 +0000 http://www.creditwritedowns.com/?p=41883#comment-80828 @Max Power. Amen brother. @Max Power.

Amen brother.

]]> By: Max Power http://www.creditwritedowns.com/2012/02/the-elephant-in-the-room-is-spain-not-italy.html#comment-80826 Max Power Wed, 08 Feb 2012 00:33:00 +0000 http://www.creditwritedowns.com/?p=41883#comment-80826 "Productive investments" end up being handouts. “Productive investments” end up being handouts.

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