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No More Other Peoples Money In Spain

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Article from Mish here

Anyone who thinks you can just borrow money to give to useless people to do useless jobs ad infinitum is Tilting at Windmills, just like Don Quixote.

You can have either evil Tory cuts (read: overall public spending increasing at a lower rate) or total collapse. Up to you.

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You can have either evil Tory cuts (read: overall public spending increasing at a lower rate) or total collapse. Up to you.

Won't total collapse lead to the nirvana of a state free zone in which the canny self motivated entrepreneur finally gets the state off his back?- or will they be too buy fighting over the last tin of beans in the burnt out ruins of the local Tesco Metro?

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Article from Mish here

Anyone who thinks you can just borrow money to give to useless people to do useless jobs ad infinitum is Tilting at Windmills, just like Don Quixote.

You can have either evil Tory cuts (read: overall public spending increasing at a lower rate) or total collapse. Up to you.

No Money to Pay 70,000 Employees In Castilla-La Mancha Region of Spain: Situation a "Total Failure"

My friend Bran who lives in Spain passed along this bit of news regarding Spain.

After the power change in the Castilla-la Mancha community, the new People's Party governorship effectively declares it bankrupt, with 2 billion EU unpaid service bills and 7 billion EU in debt.
70,000 state workers are only guaranteed one month's wage now.

No Money for Payrolls

Courtesy of Google Translate, please consider The PP says there is no money to pay payrolls in Castilla-La Mancha

The PP will have to find ways to pay from next month's payroll of 70,000 employees of the Junta de Comunidades de Castilla-La Mancha, because the situation is "total failure", with a debt to suppliers of 2,000 million euros , has secured the regional secretary of the PP, Vicente Tirado.
The PP leader said that this month other officials charged by the payroll but no money for months, but has sent a message of peace because the PP, he added, will find the mechanisms to pay thereafter, and cited, for example, privatization of public television.
PP general secretary of Castilla-La Mancha has criticized Barreda have "paralyzed the administration" and that since his "irresponsibility want to mount a minefield" that cannot pay anything.
He will be remembered, he added, as the "worst" president of an autonomous region that has more than 7,000 million euros of debt owed ​​on unpaid invoices more than 2,000 million, which is leading to the ruin of small entrepreneurs as well to lead the ranking of communities deficit.

Those who can read Spanish may wish to consider El PP asegura que no hay dinero para pagar nóminas en Castilla-La Mancha

The following map and facts courtesy of Wikipedia will help put the region and population in proper perspective.

Castilla la Mancha

Castilla-la%2BMancha.png

Area-wise that is about 15.7% of Spain, population-wise, only 4.3% of Spain.

From Wikipedia

It is mostly in this region where the story of the famous Spanish novel Don Quixote by Miguel de Cervantes is situated - due to which La Mancha is internationally well-known. Although La Mancha is a windswept, battered plateau, it remains a symbol of the Spanish culture with its vineyards, sunflowers, mushrooms, oliveyards, windmills, Manchego cheese, and Don Quixote.

Castilla-la Mancha is one of the more sparsely populated regions. However, where there is smoke, there is going to be fire, and much of Spain is smoking in protests, high unemployment, property bubbles, union inefficiencies, and other related problems.

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Won't total collapse lead to the nirvana of a state free zone in which the canny self motivated entrepreneur finally gets the state off his back?- or will they be too buy fighting over the last tin of beans in the burnt out ruins of the local Tesco Metro?

Is that Edward Woodward I see in your straw man?

No-one but loonies wants no state. I just want a small government which does not regard the wider economy as a cash cow for it's own bureaucracies, which listens to the wishes of the actual producers in the economy rather than just the most shrill.

The state is going to contract, one way or the other, and whether you like it or not.

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Good spot.

It reminds me of what happened when the socialists took over in Greece, and suddenly discovered the country was flat broke. And, of course, we all know what happened to them a couple of years down the line.

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Is that Edward Woodward I see in your straw man?

No-one but loonies wants no state. I just want a small government which does not regard the wider economy as a cash cow for it's own bureaucracies, which listens to the wishes of the actual producers in the economy rather than just the most shrill.

The state is going to contract, one way or the other, and whether you like it or not.

My apologies- I assumed you were of the zero state persuasion. It's not the contraction I object to so much as the people who are being lined up to take the fall.

Even as we are tossing little old ladies out of retirement homes the bankers will surely be lining up their next bailout- if indeed the first one ever ended.

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Article from Mish here

Anyone who thinks you can just borrow money to give to useless people to do useless jobs ad infinitum is Tilting at Windmills, just like Don Quixote.

You can have either evil Tory cuts (read: overall public spending increasing at a lower rate) or total collapse. Up to you.

That is surely a figure of speech, right?

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  • 312 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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