Spain is poised to seek a bailout for its banks possibly as early as tomorrow, according to media reports. Different estimates put the money needed for a Spanish bank bailout at anywhere from 27 to 100 billion euros. Meanwhile, figures show Greece’s economy shrank at a rate of six-point-five percent for the first time in three months this year. There appears to be a collapse going on regardless of what Europe’s technocrats and politicians say. What is this going to look like? Well, Gonzalo Lira says he’s seen this all before in Latin America. He’ll take us back to Chile in 1983.

  1. TINY TIM APPROVES THE ECB BAILOUT—A.K.A. “THE SPANISH FLY-BY”

    “Today’s move means Spain has a firewall in case the
    Greek election on June 17 unleashes a fresh round of market
    turmoil. The maximum amount of the
    loans is equivalent to about 10 percent of gross domestic
    product and interest paid on the loans will affect the deficit,
    which is the euro-area’s third-largest.”<—This Is Like The USA Needing $1.6 Trillion As Some Kind Of Down Payment To Buy Time—It’s Insanity.

    “…difficulties are
    concentrated in about 30 percent of the industry. Lenders
    receiving aid will be subject to conditions, de Guindos said,
    without giving details. “We still have to find a solution to the sovereign debt
    crisis: it’s not done yet…”<—Really?, You Mean More Money Printing MIGHT BE NEEDED?…OH NO!

    “The
    bailout adds to the 386 billion euros ($480 billion) in pledges
    to Greece, Ireland and Portugal that European governments and
    the International Monetary Fund have made since 2010.”<—WHEN IS IT GOING TO END?–ANSWER: NEVER.

    “Spain’s banks are hobbled with
    more than 180 billion euros of bad real estate loans and assets
    stemming from the collapse of a property boom that was the
    country’s main driver of economic growth.”<—Only 180 Billion Euros?—What Will The Number Be In 6 Months? 250 Billion?—That’ll Wipe Out This Down Payment Pretty Fast LOL!

    “The International Monetary Fund, which will have an
    advisory role
    U.S. Treasury Secretary Timothy F. Geithner also welcomed the deal.” <–If Tiny Tim Approves Of This Deal—SIGN ME UP!–LOL!

    “[This Bailout] may spur further downgrades in the nation’s credit
    rating. Moody’s Investors Service, which grades Spain at A3,
    said late yesterday that as the nation moved closer to needing
    external help “<—Spain’s External Debt Is Now At 232% of GDP.

    “Market reaction is unlikely to be favorable given that
    the bailout places even more strain on Spain’s creditworthiness,
    sets a precedent that the euro zone’s other bailed-out countries,
    in particular Ireland, are likely to object to, and risks
    putting pressure on Italy,” <—Watch Monday For More Sell-Offs

    [One Analyst Says], “They will probably show capital needs are
    “manageable,” and the 100 billion euro figure is a
    “maximum.” <—Sounds Like Maximum BS To Me

  2. Spanish Protest Bankia Mortgages On Ghost-Town Developments

    At The End—The Wild Liberal Asks Clarissa Isn’t 650 Billion Enough To Bail Them Out?—LOL!—Sure—Just Print Worthless Cash And Expect It To Solve Problems!—It’s So Ridiculous!

  3. NO JOBS IN SPAIN FOR THESE KIDS—THEY ARE REDUCED TO ASKING FOR ADDITIONAL GOVT ASSISTANCE.

    The End Result is that even those who think additional govt handouts hurt the country and make things worse, they have no choice. No Jobs=More Govt Money Printing. It’s A Never-Ending Cycle.

     

  4. I think it’s going to be worse here as there are too many people on welfare and won’t know how to cope even if it stares them in the face, Ca is going to be hurting big time as is New York and even here in Maine as it’s really become one big welfare State.  But hopefully my stash will see me through.

  5. Any Resemblance, This is my daughter. Lol and both of them have the same body movement, speech and both are Ca. girls.

                                                            

                   

                             

     

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