Saturday, February 08, 2014

Spain in the austerity trap - and not only Spain

Stuart Medina, Debate sobre España y el Euro El Diario 02.02.2014

España lleva más de un lustro reptando por el fondo de una prolongada depresión, secuela del estallido de la burbuja inmobiliaria agravada por la crisis de deuda en la zona euro y la austeridad. Las cifras de la devastación son de sobra conocidas: más de un 25% de paro, 56% entre los jóvenes; una losa de deuda que obstruye el flujo de crédito a empresas y familias; unas cuentas públicas cada vez más deterioradas; más de 400.000 empresas desaparecidas; y un retroceso de las rentas y del consumo a niveles de los 90.

[Spain is having more than a five-year crawl out from the bottom of a prolonged depression, consequence of the bursting of the real estate bubble aggrevated by the debt crisis in the euro zone and austerity. The numbers of the devastation are very well known: more than 25% unemployment, 56% among the young; a millstone of debt that obstructs the flow of credit to businesses and families; some public accounts deteriorating more and more; more than 400,000 businesses disappeared; and a rollback of incomes and consumption to the levels of the 1990s.]

In this video from The Real News, Bill Black talks about European Officials Pushing Austerity in Spain to Boost Corporate Profits By Repressing Unions 02/05/2014:



Black writes about it in Spain Rains on Rehn’s Austerity Victory Parade: Unemployment Rises to 26% New Economic Perspectives 01/25/2014.

German economist Heiner Flassbeck talks about the danger of a global recession in this video, also from The Real News, Danger of Global Recession After 30 Years of Neoliberal Counterrevolution - Flassbeck (3/3) 02/03/2014:



The first two segments of Flassbeck's participation are:

Krugman is Wrong About the Market and Hot Money - Flassbeck (1/3) 02/01/2014



Finance is Super Rational about Profits, Irrational about Global Economy - Flassbeck (2/3) 02/02/2014:



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