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Realistbear

Poverty Spreading In Spain

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http://uk.finance.yahoo.com/news/economic-crisis-forcing-spaniards-into-poverty-study-afp-b7135bfd6061.html?x=0

Economic crisis forcing Spaniards into poverty: study
18:36, Friday 4 June 2010
More than a million more Spaniards are living below the poverty line now than before the country was battered by an economic crisis, according to a study by a Spanish charity released Friday.

This spells political trouble. BIG trouble. Goodbye Euro.

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This spells political trouble. BIG trouble. Goodbye Euro.

Will we have the Dinari back in the UK? Romans all forgiven and so forth!? Perhaps we could just print something entirely new and give it a value and then carry on as if nothing happened? What about the Barterbutton, or the Tiddlybritwink, or Ukrona? Any other ones?

Spain has had high unemployment for a generation. The costa housing boom was again loose credit on the rampage. I remember looking at a new Spanish development at a 'show' in 2005. The salesperson asked, "do yopu know the system?" They wanted me to buy a terraced 2 bed mews style home 'off plan' and then be assured that by the time it was built it would be worth at least 20% more than plan price. Hey presto-instant paper profit. BUT When I saw the price at about £340,000 I gasped. It was MUCH more than a similar sized home in Sussex! In 1975 you could buy a 3 bed detached villa by the coast in Spain for around £10-12k with shared pool facilities. Some bubble I thought and walked away.

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The problem with these sorts of reports is that they do not say what the poverty line is. It is a measure much loved by socialist governments to justify redistributive policies and hence set high. In the UK they define it as 60% of the median household income. The 22.7% in reported to be in poverty is almost exactly the same as in the UK. The current level in the UK would be £300 per week. To me that is not poor. It may not meet all desires but it meets all needs with spare for luxuries.

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http://uk.finance.yahoo.com/news/economic-crisis-forcing-spaniards-into-poverty-study-afp-b7135bfd6061.html?x=0

Economic crisis forcing Spaniards into poverty: study
18:36, Friday 4 June 2010
More than a million more Spaniards are living below the poverty line now than before the country was battered by an economic crisis, according to a study by a Spanish charity released Friday.

This spells political trouble. BIG trouble. Goodbye Euro.

Hey, what about 1 in 5 US adults on food stamps, or the frankly shocking US payroll figures out today,and the fact the US has the highest levels of unemployment for 26 years... or does that not fit in with your US$ pumping mindset these days? :rolleyes::lol:

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Hey, what about 1 in 5 US adults on food stamps, or the frankly shocking US payroll figures out today,and the fact the US has the highest levels of unemployment for 26 years... or does that not fit in with your US$ pumping mindset these days? :rolleyes::lol:

Look at the list of countries that have used migrant labour and a policy of flooding the makret with cheap labour to disguise serious economic imbalances and pure bubble based economies and you will see the same.

More short term policies and bad management biting back.

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Hey, what about 1 in 5 US adults on food stamps, or the frankly shocking US payroll figures out today,and the fact the US has the highest levels of unemployment for 26 years... or does that not fit in with your US$ pumping mindset these days? :rolleyes::lol:

US? I thought we were on Spain in this thread? :blink:

Might as well get onto your old chestnut: Gold can go up and it can go down--usually without much advance warning.

Now, back to the topic........................when poverty grows in the Latin countries it often leads to a bit of social unrest and it is all looking like the return of the Peseta. I was down there last year and noticed how many shops were pricing in Pesetas as well as Euros.

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US? I thought we were on Spain in this thread? :blink:

Might as well get onto your old chestnut: Gold can go up and it can go down--usually without much advance warning.

Now, back to the topic........................when poverty grows in the Latin countries it often leads to a bit of social unrest and it is all looking like the return of the Peseta. I was down there last year and noticed how many shops were pricing in Pesetas as well as Euros.

RB, nothing to see here. Plenty of eurozone countries have shops and commerces that still show the old currency prices alongside the euro price. Helps the over-30s compare the price. ;)

Local Carrefour and Castorama near to me still do it. Not much sign of unrest on the French Riviera, to be frank.............. B)

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RB, nothing to see here. Plenty of eurozone countries have shops and commerces that still show the old currency prices alongside the euro price. Helps the over-30s compare the price. ;)

Local Carrefour and Castorama near to me still do it. Not much sign of unrest on the French Riviera, to be frank.............. B)

OMG!!!!!

My local butcher had Kilos and pounds!!!!!

The metric system is doomed! doomed I tell you!

The sky is falling!!!

WAAAAAAHHHH!

PS. buy gold.

protect yourselves.

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Spain has had high unemployment before, however the last time I don't think they had had a huge property boom and took on lots of personal debt.

It's going to be tough.

The in-laws have just been to Fuerteventura and found the place empty, we went in 2008 and a pint cost about 2.50 - 3.00 Euro, now it's 1.60 and no one is out and about. The also said that some of the shops at the front had seen there rents increase. Sounds like the making of a stable recovery.

Still I'm sure it's contained.

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http://uk.finance.yahoo.com/news/economic-crisis-forcing-spaniards-into-poverty-study-afp-b7135bfd6061.html?x=0

Economic crisis forcing Spaniards into poverty: study
18:36, Friday 4 June 2010
More than a million more Spaniards are living below the poverty line now than before the country was battered by an economic crisis, according to a study by a Spanish charity released Friday.

This spells political trouble. BIG trouble. Goodbye Euro.

How does it compare to poverty in the USA? Goodbye dollar, then?

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US? I thought we were on Spain in this thread? :blink:

Might as well get onto your old chestnut: Gold can go up and it can go down--usually without much advance warning.

I think you have me mixed up with someone else Mr. Bear. If you can find a single post on this site (of my 7,700+) where I ramp gold, I will send you $US 50. I was highlighting your own attempts to ramp the US$ and ignore the huge problems the US now faces. :rolleyes:

Now, back to the topic........................when poverty grows in the Latin countries it often leads to a bit of social unrest and it is all looking like the return of the Peseta. I was down there last year and noticed how many shops were pricing in Pesetas as well as Euros.

Dual pricing, it's been around since the Euro was introduced. :)

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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