Economic Crisis Leaves Millions of Spaniards Impoverished

[zboy1]

[youtube]http://www.youtube.com/watch?v=uyMNRPpJ ... ture=g-u-u[/youtube]

[Jester]

Engineer making sandwiches. Jeez.

[Andrewww]

University graduates are the ones suffering the most. That's what happens when unions rule the country and stop companies from being competitive.

[targetguy]

the usps is a good example of what happens when 80 percent of the costs are labor and highly unionized. Looseing about 4 billion plus a quarter while private industry is growing leaps and bounds. There is about 8 people watching for every one working and each craft fights each other. Instead of people watching with camera tvs they have walkway inspectors every 10 feet and satallites plus decoys. Private industry doesnt have any of this crap at all.

[gsjackson]

University graduates are the ones suffering the most. That's what happens when unions rule the country and stop companies from being competitive.

No, this is what happens when banksters are allowed to ravage governments and suck all the demand out of a national economy.

[polya]

University graduates are the ones suffering the most. That's what happens when unions rule the country and stop companies from being competitive.

Well Holmes, you've solved the case. Just kill unions and life will be rosy... (I'm being mean, just proving my point).

[xiongmao]

Now that the easy money is gone, Spain is just reverting to what it was, a very poor country. I used to go to Spain/Portugal/Greece with my family in the 80's and it was like the industrial revolution never happened there.

Food was great though!

[publicduende]

Now that the easy money is gone, Spain is just reverting to what it was, a very poor country. I used to go to Spain/Portugal/Greece with my family in the 80's and it was like the industrial revolution never happened there.

Food was great though!

... and let's not forget Ireland, the mother of all flash booms.

The good thing about Spain is, much of that cheap credit money has been spent on world class infrastructure, the backbone of a modern, forward-looking country. However wrecked by unemployment and declining living standards, in 2011 Spain still managed to take over turle-paced Italy on several macroeconomic indicators, industrial production pro-capite to mention one. Spain has literally rebuilt itself in the past 15 years, at a pace and on a scale that probably has no pars in Western Europe. The closest proxy could be South Korea, which, coincidentally, also experienced boom soon after a period of military dictatorship.