Como anda la cosa... (how things are going? Economic collapse in Spain)

[anart]

No problem Ailen, but the video we are discussing is only in spanish/catalan
In any case, no issue for me at all.

Yes, but the point is that this is an English forum and in order to discuss it with the entire forum (which is the point) it should be in the main sections of the forum and in English. As Ailen pointed out, the other language sections are for help with difficulty understanding English and expressing oneself in English - not for discussions.

ok, please move the discussion to the appropiate part of the forum as I have not admin rights to do that.


thanks.

Since I don't read Spanish, that's rather difficult for me to do - I don't even know what the discussion is about. ;) That's why it's important to post in both Spanish and English!

It is about an interview in a spanish program about the economical situation in Spain, I guess it could be posted under any thread in the Our Orwellian World part of the forum.

Great - can you please add an English translation to each of your posts in this thread?

 

[David Topi]

I just saw the video entirely and I am still very confuse. Economists like to talk but the facts and what will happen if there is devaluation of the money (and these two good economics think that it will be devaluation) are not clear. What will happen if there is devaluation? I don't know. We will suffer, but in what sense? I remember, always when someone talks about devaluation, the devaluation in Germany, around the 30, and how with a salary you just can bought one box of cigarettes. Is that what will happen here in the case of devaluation?

I don't see a solution. I asked today the director of my bank (I don't have a penny inside but he is still the director of my bank, La Caixa ;) ) and he said: yes, this is possible that a devaluation will occur. Yes, we will suffer a lot. Yes it will happen without advertising anybody. No, people are not curios (in my region) about this subject.

I think Spain should exit the Eurozone. It is better suffer 6 months than years. (one of the economists said this). But is he right? Have these two economists a plan beside their participation in the program? Are they porte-parole of the big banks? One of them said that Spain should be rescue by Europe...

This program is very good but we have not to forget that everything is manipulation. Even Catalan tv. Everything serves someone, something. With that I don't mean that these two economists are not saying the truth. But one of them is working with a bank.

So... I am still very confuse!

I do not think the two guys in the interview have any interest, well, that is my perception because they have been banned from all the main MSM since the day they published their first report on the economical situation in Spain. Remeber what they say? "You have had to have been smoking "crack" to believe that the spanish banks are in good shape" (my translation).




In any case, I am fully with you in the manipulation of the media and that probably TV3 is looking to give a hand to the catalan goverment againts the central one, as things looks now, with the further 1500 millions that were cut yesterday in education and health, we still "will not make it", so it could be just that the first region to be bailed out after Asturias (which looks even worse in terms of deficit) is going to be catalonia.


I pretty much think also that exiting the euro would be the best, but do not want to imagine the chaos that will happen if tomorrow all your savings are worth it just half of what they were 24h before (he mentioned 35% devaluation in no time, then pointed that it could be more, dunno).

 

[loreta]

I don't know anymore if we can continue the comments here or in the other one? I am lost now....

 

[David Topi]

I don't know anymore if we can continue the comments here or in the other one? I am lost now....

It has been moved now, I placed it on the wrong place. But the thread is the same, just under a different location. Suggest keeping this one in english instead of opening a new one if it is ok for everyone.

 

[Jacques]

I don't know anymore if we can continue the comments here or in the other one? I am lost now....

It has been moved now, I placed it on the wrong place. But the thread is the same, just under a different location. Suggest keeping this one in english instead of opening a new one if it is ok for everyone.

And what could be a good translation of the title of the thread.

 

[David Topi]

And what could be a good translation of the title of the thread.

aaaaa.....do not know, it is an expression. Something like, "what is the status of the situation"?

 

[ana]

And what could be a good translation of the title of the thread.

aaaaa.....do not know, it is an expression. Something like, "what is the status of the situation"?

Maybe we can use "How things are going..."

 

[loreta]

And what could be a good translation of the title of the thread.

aaaaa.....do not know, it is an expression. Something like, "what is the status of the situation"?

Or: how things are going? ;)

Edit: sorry Ana, I didn't read you. :D

 

[loreta]

I have a question: is it possible that what happened in Argentina happen here? People are talking about "corralitos", an expression that is related at what happened in Argentina when people went to the banks and found that they the banks were void of money. Those two economists did not talk about this. But many other people are talking about it. What do you think about it? Can this happen here? Are we in the same situation?

Personally I am nul in economics. I try to understand and this program is good in that sense but even then I have difficulty in comprehend all this mess.

 

[mabar]

Maybe we can use "How things are going..."

That sounds too soft, considering the government of Spain is making economic "adjustments" and since everyone, not just Spain is depending on what Greece would do, or that is what media had been talking + or - for a year, I found a little paragraph in a mexican news paper, that said that, the recently devaluation of the peso against the dollar was due of what was happening in Greece.

I do not understand much about economic products, toxic bonds and etc... but an overall observation confirms me that is one government and countries are protectorates from the empire.

Time to hear again SOTT Podcast about economy, I guess they hadn't changed that much, just changing dollars, to euros or pesos, or other. I remember two podcasts, one in which was more about macroeconomic and the second more at my (our?) level.

http://www.sott.net/podcasts/listall
18.- The Economic Apocalypse: An Insider's Interview
27.- Surviving the Economic Crash

---
Suggestion: How are you doing ... after you had been hit by a truck?

 

[ana]

Maybe we can use "How things are going..."

That sounds too soft, considering the government of Spain is making economic "adjustments" and since everyone, not just Spain is depending on what Greece would do, or that is what media had been talking + or - for a year, I found a little paragraph in a mexican news paper, that said that, the recently devaluation of the peso against the dollar was due of what was happening in Greece.

Maybe it is, I suggested it because we were looking for a translation of the original title of the thread :)

 

[David Topi]

I have a question: is it possible that what happened in Argentina happen here? People are talking about "corralitos", an expression that is related at what happened in Argentina when people went to the banks and found that they the banks were void of money. Those two economists did not talk about this. But many other people are talking about it. What do you think about it? Can this happen here? Are we in the same situation?

Personally I am nul in economics. I try to understand and this program is good in that sense but even then I have difficulty in comprehend all this

I do not know how likely it could be, but everyone in the street is talking about it. Then, you have the finance minister saying everyday that it will not happen here, so, you can guess, the mere fact that they say it will not happen it is making people thinking it will. Talking about trusting politicians


As far as i have read today, money is already leaving the country, as those with the resources to do so are transferring their savings somewhere else. So, if the "elite" of the country seems tbe doi g that, i guess they have also that fear of seeing their savings block.

 

[Jacques]

Maybe we can use "How things are going..."

That sounds too soft, considering the government of Spain is making economic "adjustments" and since everyone, not just Spain is depending on what Greece would do, or that is what media had been talking + or - for a year, I found a little paragraph in a mexican news paper, that said that, the recently devaluation of the peso against the dollar was due of what was happening in Greece.

Maybe it is, I suggested it because we were looking for a translation of the original title of the thread :)

Ok I have added an English subtitle (how things are going? Economic collapse in Spain)

 

[David Topi]

While following the news in twitter i saw that moody's have degraded Catalonia and Asturias to the lower rate possible, it is even trending topic. What worries me is that things are moving really too fast, and this is not a good sign i guess. I guess tomorrow can be an interesting day for the markets.
I wonder who is really pulling the strings here, or maybe it is a snowball effect?

 

[loreta]

It is very interesting situation. And a little scary. I don't have money in the bank but I am worried for my neighbors that are not aware of the situation. They seem to live in another planet, really. They are old, worked like slaves all their lives and now they have a little money in the bank. They believe like god himself (or doctor himself) their bank director that will never tell them the reality.

I think this thread is very important. I need to be informed, I feel I need to be informed because that calms me and need to feel less alone in this situation that this country is living. Thanks a lot David Topi to have it started.

Concerning the title: this title is a little ironic but Spaniards have a good sense of humor. Everything is something that we can laugh about it. It is in fact what I like of the Spaniards. And to Gandalf you had an excellent idea to put "economic collapse in Spain". The collapse is coming, I believe...