Spain is going down

Hi everyone,

Spain is going down.

Well, actually it has been that way since the real estate bubble (one of the biggest Europe has ever seen apart from Ireland, the US-bubble was nothing compared to the magnitude in these 2 countries).

http://elpais.com/elpais/2012/05/27/inenglish/1338141675_882764.html

Improvising in Spain means in other words:

Guys, it's too late to get anything in order any longer and we can't deny the level of the problem any more.

Take a look at that one, the real war front:

http://www.pigbonds.info/

The 10 years spanish bonds are over 6 % yield, without any sign to lower again.

7 % yield is known as a critical level, once passed, Greece, Portugal, Ireland had to ask for coverage under the so called "European Rescue Umbrella".

Just let me make that very clear: All these so called Umbrellas, ESM (stability mechanisms) etc. don't work.

Just print the bloody money, the way Bank of England (BoE) is doing it.

The UK does not have much industry left either, but they seem to know how to rather inefficiently handle the situation until the inevitable sets in:

Hyperinflation, currency reforms (brakeup of the EURO) etc.

The EUROpean politician are just wasting their time. And the tax payers money.

Once Spain falls, no bailout will work.

The country simply is too big to bail.

It will be: Print or die. Great choice for the ECB (European Central Bank).

By the way:

Once there is a flight out of everything stating EURO on it, voila, we will have a currency crisis.

Just this time around, it will affect some 17 countries.

They will be quite pleased, especially it's people.

Forecast:

We might not see many countries using the EURO as their main currency any longer once 2013 sets in.