Spanish threaten to drive out socialists.

[BritishSword]

As if that was a bad thing!

From Yahoo news.
Begin quote.

Spanish voters go to the polls today in the midst of the eurozone debt crisis with polls suggesting they will oust the ruling Socialist party.

The current prime minister, Jose Luis Rodriguez Zapatero, has already announced his intention to stand down after the election, following criticism for his handling of the country's economy.

His handpicked successor Alfredo Rubalcaba looks almost certain to be defeated by the veteran conservative Mariano Rajoy.

The election campaign was fought over the country's parlous finances.

Unemployment stands at over 21%, the highest in the European Union, growth has stagnated and the collapse of the housing market has exposed worrying levels of private debt.

To make matters worse, the sovereign debt crisis in the eurozone has made it even more expensive for the Spanish government to raise money, with interest rates nearing the 7% barrier on 10-year government bonds.

Mr Rajoy is expected to introduce a wide-ranging austerity package, although he has been coy on specifics.

Professor Gayle Allard from the Madrid Business Institute says he will need the help of the Socialist party if he is to succeed.

"Particularly with labour market, collective bargaining, and pensions reform they are going to need a consensus of the two parties," the professor told Sky News.

"I would hope that in a moment of crisis like this you could have a grand coalition".

The eurozone debt bomb has seen political fortunes tumbling across Europe.

In February, Ireland's prime minister Brian Cowen was the first to fall after a humiliating bail-out, soon followed by Jose Socrates of Portugal and then Iveta Radicova of Slovakia, who lost a confidence vote on the stability facility.

More recently, Greece's prime minister, George Papandreou, went as did Italy's Silvio Berlusconi: the biggest scalp of the crisis so far.

Today Mr Zapatero is likely to join that list, as Spanish voters show their anger over the country's dire financial straits.

[Rubystars]

Good for them. I wish all of Europe would say no to socialism.

[BritishSword]

Good for them. I wish all of Europe would say no to socialism.

If your based in the states it means your up at four in the morning posting on JTF!

[maelgwyn]

The new NAZIS!   

[Rubystars]

If your based in the states it means your up at four in the morning posting on JTF!

I usually work an overnight shift but it's the weekend.

[syyuge]

I hope they really succeed

[realist26]

Greece, Italy and Spain now have Governments that believe in fiscal reform and enhanced productivity.  This is because the financial markets are forcing Europe to deal with its problems.  Yet the US with its printing press Federal Reserve and socialist tendancies still doesn't understand that the deficit needs to be closed.  Once the Europeans reduce their deficits, capital flow out of the US dollar back into Europe causing a run on the US, more printing, high interest rates and inflation...

[syyuge]

The EuroCommunists are managing the different global parts in such manners that the global interests are running at cross roads.

[BritishSword]

Greece, Italy and Spain now have Governments that believe in fiscal reform and enhanced productivity.  This is because the financial markets are forcing Europe to deal with its problems.  Yet the US with its printing press Federal Reserve and socialist tendancies still doesn't understand that the deficit needs to be closed.  Once the Europeans reduce their deficits, capital flow out of the US dollar back into Europe causing a run on the US, more printing, high interest rates and inflation...

What?

[syyuge]

Socialists defeated in Spain:

http://www.guardian.co.uk/world/2011/nov/20/spain-election-peoples-party-victory?newsfeed=true
 

[angryChineseKahanist]

Oh hi Jose Luis Rodriguez Zapatero Juan Pablo Julio Alberto Alphonso Diego Geraldo Geinaldo Victorino Vito Wilfredo Zacarias Fernando Jorge Humberto Gustavo Marcio Marcos Pepito Pino!

[briann]

Oh hi Jose Luis Rodriguez Zapatero Juan Pablo Julio Alberto Alphonso Diego Geraldo Geinaldo Victorino Vito Wilfredo Zacarias Fernando Jorge Humberto Gustavo Marcio Marcos Pepito Pino!

Wow, and I thought Muslims names were long.   By the way, Vito is Italian.

[cjd]

Greece, Italy and Spain now have Governments that believe in fiscal reform and enhanced productivity.  This is because the financial markets are forcing Europe to deal with its problems.  Yet the US with its printing press Federal Reserve and socialist tendancies still doesn't understand that the deficit needs to be closed.  Once the Europeans reduce their deficits, capital flow out of the US dollar back into Europe causing a run on the US, more printing, high interest rates and inflation...

From what I read the Euro is on the very verge of collapse... The reserve bank in Europe is not even sure it should bother trying to save it... Honestly I don't thing the fiscal reform mindset is in any better shape over in Europe than it is here in America...The dollar will take a hit due to the global economy if the Euro goes under however I don't see America becoming overly involved in the rescue attempt situation... Germany is the big fish in the pond over there and it seems as if its up to them to save the day.

[angryChineseKahanist]

Wow, and I thought Muslims names were long.   By the way, Vito is Italian.

Very popular Italian name. But its also a spanish name.

[BritishSword]

... Germany is the big fish in the pond over there and it seems as if its up to them to save the day.

OH the Irony.

[Maimonides]

From what I read the Euro is on the very verge of collapse... The reserve bank in Europe is not even sure it should bother trying to save it... Honestly I don't thing the fiscal reform mindset is in any better shape over in Europe than it is here in America...The dollar will take a hit due to the global economy if the Euro goes under however I don't see America becoming overly involved in the rescue attempt situation... Germany is the big fish in the pond over there and it seems as if its up to them to save the day.

The U.S. is already involved because, the Federal Reserve is sending TRILLIONS to help bailout Europe.

http://www.washingtonpost.com/business/economy/federal-reserve-boosts-flow-of-dollars-to-european-central-bank/2011/09/15/gIQA2YcpVK_story.html

Worried that a mounting debt crisis in Europe could trip up the global economy, the Federal Reserve opened its vault Thursday to the central banks of other countries in an effort to head off a crippling shortage of dollars.

The main recipient of the Fed’s money is the European Central Bank, which will in turn extend dollar loans to banks in the nations that use the euro currency. Those banks do significant business in dollars, for instance making loans to customers operating around the world, and have been finding it harder to raise dollars from anxious investors.

You can thank those genius bankers on Wall Street who invested in European debt, like MF Global which just went under and stole over 6 billion worth of their clients money without their permission by investing it in euro debt.

[cjd]

The U.S. is already involved because, the Federal Reserve is sending TRILLIONS to help bailout Europe.

http://www.washingtonpost.com/business/economy/federal-reserve-boosts-flow-of-dollars-to-european-central-bank/2011/09/15/gIQA2YcpVK_story.html

You can thank those genius bankers on Wall Street who invested in European debt, like MF Global which just went under and stole over 6 billion worth of their clients money without their permission by investing it in euro debt.

I don't think the Fed has trillions to send anywhere.... From what I read it's three month short term loans...

The Fed will make short-term dollar loans to the ECB and other central banks through “swap lines,” swapping dollars for an equivalent amount of euros, British pounds, Swiss francs and Japanese yen. The ECB will, in turn, make those dollars available to euro-zone banks, the Bank of England to British banks, and so on, in the form of three-month loans at a fixed interest rate.

[syyuge]

Through any business channels or through any short or long term financial arrangements, most of the money is ultimately leading to China. China has kept its currency devalued, so it is attracting the global business and other currencies like a magnet. Over and above this, their proletariat's are working overtime to maintain and withstand such an anarchy in the competitive global business market.

Actually, the free economy can not compete with a fascist economy.