Spain circles the drain

[DJofSD]

http://www.cnbc.com/id/49267996

Spain's corporate tax take has tumbled by almost two thirds from pre-crisis levels as small businesses fail and a growing number of big corporations seek profits abroad to compensate for the prolonged downturn at home.

[Tom]

We are looking at our future under Obama.

[DJofSD]

The libs love to tout European values and ways of doing things. I guess if we're going to be consistent, economic failure is in our future.

[Tom]

Economic failure is and always has been Obama's goal for us.
So, technically, us going down the tubes would be a victory.

[rastajenk]

It would certainly be transformative.

[Steve 'StatMan']

The rain, like Spain, goes mainly down the drain.

[Tom]

By George, he's GOT IT!!

[BlueShoe]

Originally Posted by DJofSD

The libs love to tout European values and ways of doing things. I guess if we're going to be consistent, economic failure is in our future.

But of course. The liberal mantra is not to share prosperity, but to share misery. If everyone is equally broke and unhappy the left has fulfilled their goal.

[Hoofhearted]

Originally Posted by DJofSD

The libs love to tout European values and ways of doing things.

The troubles that are currently blighting Spain ( and some other Euro countries) are the consequence of the contagion of a toxin that was born in your country .............. Sub-Prime Mortgages.
The old admirable European values of socialism, egalitarianism and common decent humanity are being killed at the altar of a vulture capitalism that was spawned and nurtured in the U.S.A., I'm afraid.

[bigmack]

Originally Posted by Hoofhearted

The troubles that are currently blighting Spain ( and some other Euro countries) are the consequence of the contagion of a toxin that was born in your country .............. Sub-Prime Mortgages.
The old admirable European values of socialism, egalitarianism and common decent humanity are being killed at the altar of a vulture capitalism that was spawned and nurtured in the U.S.A., I'm afraid.

What a pile of manure. Back it up with facts, rather than your HEAVILY JADED unsupported opinion.

[DJofSD]

The mortgage securitization debacle is a problem but just a part of the problem.

Whether it is the values or how they are realized are admirable is debatable. What is not debatable is what is killing the Euro economies.

Vulture capitalism is a rather trite throw away label. You infer there was carpet bagging taking place. I thought the whole idea of the Euro zone was to embrace the market place and participate in a global market. What part of the investments which ended up in MBS and the like were involuntary?

[Tom]

The inherent laziness of the Euros is far more the reason.
Suck to be them.
Ta ta.

[DJofSD]

Originally Posted by Tom

The inherent laziness of the Euros is far more the reason.
Suck to be them.
Ta ta.

Ya, ya, you beat me to the punch -- again. Too fast for me!

[BlueShoe]

Originally Posted by Hoofhearted

The old admirable European values of socialism, egalitarianism and common decent humanity are being killed at the altar of a vulture capitalism that was spawned and nurtured in the U.S.A., I'm afraid.

Recall back in the years of the Cold War the Soviets often referred to "Wall Street War Mongers." Guess that there are still a few old KGB propagansists hanging around spouting such drivel.

[Hoofhearted]

Originally Posted by DJofSD

The mortgage securitization debacle is a problem but just a part of the problem.

What is not debatable is what is killing the Euro economies.

So, DJofSD, could I ask you what it is that you think is killing the Euro economies?
You may think this is a leading question; it is not, honestly. I am genuinely interested in your take as to what is the underlying cause of the current problem.
I'll tell you what my analysis is, for-what-it's-worth .................... it is that the gambling losses of banking conglomerates is being converted into sovereign debt of individual country's and is being paid back with public money thereby sucking the economic lifeblood out of these countries. Capitalism wins again; and the ordinary citizen suffers.