Oct 07

20141007_ebola1

Spain Warns “Something Went Wrong” As Suspected Ebola Cases Rise In Madrid (ZeroHedge, Oct, 7, 2014):

Despite being described by Spain’s public health director as “a national jewel,” the head of Spain’s Nursing Council warns “something went wrong” in the health care system’s protocols. As RT reports, Spanish health officials have 4 patients interned including infected initial nurse, her husband, and a 2nd nurse (male). Furthermore, 22 more possible Ebola cases are under surveillance having had direct contact with the infected nurse during her vacation after being infected (officials have said they ‘don’t know’ how she became infected with the deadly virus). Images within the hospital show “irregularities” and make-shift isolation units and an insider account said “I do not want to create social alarm, but explain what is still a reality everyday for a few months of nursing staff at the ICU.”. One researcher noted “air traffic is the driver.,” and added ominously, “it’s just a matter of who gets lucky and who gets unlucky.” Continue reading »

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Oct 07

Spanish Ebola-Infected Nurse Is First Case Of Contagion Out Of Africa; Salzburg Activates Ebola Emergency Response (ZeroHedge, Oct 6, 2014):

By now it should be clear to everyone that any myth that the Ebola epidemic, which has clearly gone global, is contained is about as real as the S&P 500 at 2000. And if it isn’t, the latest confirmation came moments ago from BBC which reports that a Spanish nurse who treated an Ebola victim in Madrid has contracted the virus herself in the first case of contagion outside Africa, health officials say.  What is different about this case is that the nurse contracted the virus in Madrid while she was part of the team that treated Spanish priest Manuel Garcia Viejo, who died of Ebola on 25 September, despite being treated with the same drug regiment that previous is said to have worked on US Ebola patients. Continue reading »

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Sep 30

Related info:

Catalonia President Orders Independence Referendum On Nov. 9


Spot The Total Logic Fail (ZeroHedge, Sep 29, 2014):

It appears the leadership in Spain has reached its panic-point. Following Catalonia’s President Artur Mas signing of a decree calling for an ultimately democratic referendum on independence for the region, Spanish Prime Minister Rajoy uttered this mind-numbing phrase:

  • CATALAN VOTE PROFOUNDLY ANTI-DEMOCRATIC, RAJOY SAYS

It appears Rajoy’s perspective on democracy and the will of the people is a little different as the situation has become serious enough that he has gone full-Juncker.

As The BBC reports,

“Catalonia wants to speak,” he said after signing on Saturday. “Wants to be heard. Wants to vote. Now is the right time and we have the right legal framework to do so.”

The referendum’s two questions Continue reading »

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Sep 27

– Catalonia president orders independence referendum on Nov. 9 (RT, Sep 27, 2014):

The president of Catalonia, Artur Mas, has signed a decree calling an independence referendum for Nov. 9. The secessionist drive of the Spanish region has been rebuked by Madrid, which vowed to block the vote.

Spanish Prime Minister Mariano Rajoy has called a government meeting Monday that is expected to provide a legal response to Barcelona’s announcement. Madrid plans to challenge the vote in the constitutional court. Continue reading »

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Sep 19


11.09.2014

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Sep 12

Martin Armstrong Warns “Spain Is Moving Towards Civil War” (ZeroHedge, Sep 11, 2014):

Submitted by Martin Armstrong via Armstrong Economics,

  • *SPANISH GOVT SAYS 470,000 TO 520,000 DEMONSTRATORS IN BARCELONA
  • *BARCELONA POLICE SAY 1.8M PEOPLE AT PRO-INDEPENDENCE DEMO

Spain-Militarizing

The Spanish government is militarizing gearing up for violent protests against the EU that are expected to turn up before a hot autumn. Spain is now equipping the police with about one billion million euros with new combat equipment. Violent protests in Spain since the crisis began almost a daily occurrence. Movements such as 25 de Mayo or the Indignados call Spaniards of all strata of the population to protest against the government on the streets. The police will always respond violently. They cover up their brutal responses by banning any video of police beatings making it a crime in itself. This is certainly illustrating the loss of freedom and any democratic process within Europe. The police scandals have only charged the atmosphere within the population and we may see this erupt into civil war as we move forward. Continue reading »

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Sep 03

Your Wall Street Slumlord Arrives in Europe

Your Wall Street Slumlord Arrives in Europe – Goldman and Other Financial Firms Launch “Buy to Rent” in Spain (Liberty Blitzkrieg, Aug 28, 2014):

Liberty Blitzkrieg was early in reporting on the trend of financial firms entering the U.S. residential real estate market with “all-cash” bids for tens of thousands of homes with the intention of turning former homeowners into permanent sources of rental income. The first of many pieces I published on the topic was in January 2013, titled: America Meet Your New Slumlord: Wall Street.

Now that the financial oligarchs have had their way with the U.S. property market, to the point that average citizens can’t even afford to own a home (Zillow recently showed that 1 in 3 homes are unaffordable), it appears they have turned their sights overseas. What better market for bailed-out bankers to feast on than Spain, with its 50%+ youth unemployment rate and a continued depressed real estate market.

We learn from Bloomberg that: Continue reading »

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Sep 02

Spain Sells First-Ever 50 Year Bonds At 4% Coupon (ZeroHedge, Sep 1, 2014):

Perhaps in order to celebrate its manufacturing PMI dropping from 53.9 to a below expectations 52.8, refuting the “growth story” promoted by its definitionally re-revised GDP (where the long overdue boost from hookers and blow is finally leading the country to new and improved Keynesian growth curves), moments ago Spain joined the likes of Canada, Caterpillar and Goldman and just issued, for the first time in its history, 50 Year bonds in a private placement. From Bloomberg:

  • SPAIN SELLS EU1B 50-YR BONDS
  • SPAIN TREASURY SELLS FIRST-EVER 50-YR BONDS, COUPON 4%

And since there is no hope that Spain will ever repay this bond, whose rate is dictated by anything – mostly the ECB’s monetary policy – but the fundamentals it is functionally equivalent to Spain raising new equity without a maturity date and a 4% dividend. Continue reading »

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Aug 15

Reserve Currency Status

World Reserve Currencies: What Happened During Previous Periods Of Transition? (Economic Reason, Aug 11, 2014):

The decline of the US dollar hegemony is ever so clear today and this article aims to provide the reader with what exactly happened during past periods of reserve currency transitions. Historically, when a reserve currency transitioned over to a new one, it marked a pivotal change for the world. The economic paradigm shifted and the rules of the game changed. This time will be no different when the US dollar loses its status as the reserve currency!

The transition process of the world reserve currency brings much uncertainty

Continue reading »

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Aug 14

Putin-laughing

Russia Sanctions Blowback: Finland’s Largest Dairy Lays Off 800, Spain Seeks EU Aid, Poland Complains To WTO (ZeroHedge, Aug 13, 2014):

Well that didn’t take long. Mere day after Russia announced its ban on Western nation food imports, European countries are scrambling (as we explained why here). Greece has already expressed dismay, but now Spanish officials will meet with EU leaders to discuss offsetting the country’s estimated up to $800 million in food and agriculture losses due to sanctions. Poland is pissed and has complained to the WTO claiming “Russia has broken international law in both its embargo;” and Finland’s largest dairy producer has announced 800 layoffs due to the sanctions. When does Europe tell Washington – enough!

Spain demands aid… (despite Rajoy’s support for anti-Russia sanctions)

Spanish Agriculture Minister Isabel Garcia Tejerina said the restrictions have prompted her ministry to convene a meeting with the European Commission in Brussels on Thursday.

The Spanish government has estimated that agricultural losses will amount to €337 million, or about 1.8 percent of Spanish exports. Other groups, like Spain’s opposition Socialist Party, have estimated the losses to be higher- €581 million. Continue reading »

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Aug 13

Priest With Ebola Dies In Spanish Hospital As Eight Chinese Workers Quarantined (ZeroHedge, Aug 12, 2014):

Sadly, the Spanish missionary priest who became infected with Ebola treating patients in Liberia has died in hospital in Madrid. As AP reports,Father Miguel Pajares died despite receiving the experimental drug ZMapp, and is one of 3 patients to receive it (the American doctors in Atlanta being the other 2). This morning the WHO confirmed the use of “experimental, unproven” Ebola drugs such as ZMapp was ethical in this situation, as the death toll tops 1000 in what WHO called the “most severe and most complex outbreak of Ebola virus disease in history.” Perhaps most concerning of all this morning is news that China is quarantining 8 of its West African nurses (as the death toll among health workers surges).

 …

 

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Jul 01

Spain Celebrates The “End Of The Recession” With 54% Youth Unemployment, Highest Since January (ZeroHedge, July 1, 2014):

When we were greeted by the latest batch of optimistic Spanish data this morning, such as the following:

we thought, we would see some actual “end of recession” signals when it came to the underlying economy, like for example: jobs actually being created. Alas no. According to the just released European employment data for May, total Spain unemployment remained unchanged in May at 25.1%, while youth unemployment has actually risen to 54.0% – the highest since January!

Continue reading »

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Jun 27

spain_flag_burning

–  NIRP Strikes: Spain To Create Tax On Bank Deposits (ZeroHedge, June 26, 2014):

It was a little over a year ago, just as the Cyprus deposit confiscation aka “bail in” was taking place, when we asked, rhetorically, if “Spain is preparing for its own deposit levy” when an announcement by Spain’s Finance Minister, Montoro, hinted at the imminent arrival of just that.

Specifically we said: Continue reading »

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Jun 19

Protests banned as 120 snipers line up to protect Spanish crown (Digital Journal, June 19, 2014):

Madrid – As Prince Felipe gets ready to be crowned the new King of Spain, two demonstrations and two concentrations planned for Thursday have been banned, thousands of extra police officers brought in and 120 snipers prepped to protect the ceremonial event.
It seems Spanish authorities are a tad nervous of demonstrations against the monarchy Thursday, when the new King Felipe VI is set to be crowned. Continue reading »

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May 30

–  500% Rise in Spain’s Long-Term Unemployment (ZeroHedge, May 30, 2014):

With yields at record lows and stocks soaring, is it any wonder that the politicians of Europe’s periphery are proclaiming victory over the crisis (and yet oddly imploring Draghi to do moar?). Perhaps, just perhaps, they are keeping one eye on the ‘real’ economic progress that is being made (or un-made) in their nations… such as Spain, where there are now 1.26 million people who have been jobless since 2010 and the long-term unemployment rate has risen by more than 500% since 2007.

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Apr 23

Define Austerity: Spanish, Italian And Greek Debt/GDP Rise To Record Highs (ZeroHedge, April 23, 2014):

Ask any European why their standard of living is so atrocious (after years of freeflowing debt-funded largesse) and the answer is well-known: austerity.

Also ask any European if austerity means public debt should go up or down and the answer is also as clear: down.

Which is why most Europeans will likely be confused to very confused when presented with the latest Eurostat data according to which not only did Eurozone debt rose remain just shy of all time record highs and certainly increasing from a year ago, but those PIIGS nations which are the first to blame austerity for everything, such as Greece (net of the debt wiped out as part of its 2012 bankruptcy of course), Portugal, Spain and Italy, all saw their public debt hit all time highs.

Total Eurozone debt closed 2013 at a level of 92.6%, just shy of its all time high and up from 90.7% a year ago, 87.4% two years ago, and so on. Continue reading »

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Mar 23

Riot police confront protesters after disturbances broke out at the end of a demonstration which organisers have labelled the "Marches of Dignity" in Madrid

Spanish ‘Anti-Austerity’ Protesters “Sick Of This System They Call Democracy” (ZeroHedge, March 23, 2014)

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Feb 15

20 Signs That The Global Economic Crisis Is Starting To Catch Fire

20 Signs That The Global Economic Crisis Is Starting To Catch Fire (Economic Collapse, Feb 14, 2014):

If you have been waiting for the “global economic crisis” to begin, just open up your eyes and look around.  I know that most Americans tend to ignore what happens in the rest of the world because they consider it to be “irrelevant” to their daily lives, but the truth is that the massive economic problems that are currently sweeping across Europe, Asia and South America are going to be affecting all of us here in the U.S. very soon.  Sadly, most of the big news organizations in this country seem to be more concerned about the fate of Justin Bieber’s wax statue in Times Square than about the horrible financial nightmare that is gripping emerging markets all over the planet.  After a brief period of relative calm, we are beginning to see signs of global financial instability that are unlike anything that we have witnessed since the financial crisis of 2008.  As you will see below, the problems are not just isolated to a few countries.  This is truly a global phenomenon.

Over the past few years, the Federal Reserve and other global central banks have inflated an unprecedented financial bubble with their reckless money printing.  Much of this “hot money” poured into emerging markets all over the world.  But now that the Federal Reserve has begun “tapering” quantitative easing, investors are taking this as a sign that the party is ending.  Money is being pulled out of emerging markets all over the globe at a staggering pace and this is creating a tremendous amount of financial instability.  In addition, the economic problems that have been steadily growing over the past few years in established economies throughout Europe and Asia just continue to escalate.

The following are 20 signs that the global economic crisis is starting to catch fire: Continue reading »

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Feb 12

First US missile shield destroyer arrives in Europe (RT, Feb 11, 2014):

The first of four US Navy destroyers, the USS Donald Cook, set to be a cornerstone of NATO’s European missile defense shield has arrived at the Spanish naval port of Rota, its new home. Russia says the system is a direct threat to its security.

The USS Donald Cook will be joined by three more Arleigh Burke-class guided missile destroyers, which all are fitted with the Aegis weapon system. Over the next two years the USS Ross, USS Porter and USS Carney will all be based at Rota in southern Spain.

“For the first time, a ship of the United States Navy equipped with the Aegis ballistic missile-defense system is permanently based in Europe,” said Anders Fogh Rasmussen, NATO Secretary General. “The arrival of the USS Donald Cook marks a step forward for NATO, for European security, and for transatlantic cooperation.”

Continue reading »

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Feb 05

WTF Chart Of The Day: Spanish “Recovery” Edition (ZeroHedge, Feb 5, 2014):

The following chart of Spain’s housing market really speaks for itself, and certainly conflicts with Rajoy’s promises that not only is the recession in the country over but it is recovering.

Spain housing

And for those unconvinced, here are some additional thoughts from SocGen:

Continue reading »

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