Greek economy is in free fall, and Spain could be next

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As Greeks run to the bank to pull out euros in preparation for a possible bankruptcy, economic meltdown, and exit from the Euro – the nation of Spain is also starting to collapse under trickle-down austerity. New economic numbers show Spain fell back into a recession in the first quarter of this year – with its economy shrining by .3%.

Spain has the fourth biggest economy in the Eurozone, but tops the list when it comes to unemployment with a staggering 24.4% of the nation’s workforce out of a job. Even though austerity is clearing not working – the Spanish government remains committed to lowering deficits through severe budget cuts and eliminating the social safety net. Stay tuned – Greece is in free fall now – but Spain could be next.

Thom Hartmann Administrator's picture
Thom Hartmann A...
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Dec. 29, 2009 9:59 am

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I think it's time to give the Greek's the names and addresses of Lloyd Blankfein and the other boards of directors of Goldman Sachs. Time for payback, enough suffering by the many because of the greed and sociopathology of a few.

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Choco
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Jul. 31, 2007 3:01 pm

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Would You Like Some Crippling Debt with that Degree?

Wall Street-style predatory capitalism has taken over our education system, and it’s absolutely devastating a whole generation of young people.

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