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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (672907)	9/11/2012 1:06:45 PM
From: mel221	Read Replies (1) of 1578436

>> And let me add, Spain was one of the strongest economies when the recession started with the smallest ratio between deficits and GDP as compared to the rest of Europe and the US. Your understanding of economics is showing... Everyone else recognizes that Spain was experiencing a massive construction bubble prior to the recession. In fact, the Bank of Spain has warned each year about the high indebtedness of Spanish households, [18] which according to the institution was unsustainable. The private debt stood at 832.289 billion euros at the end of 2006, an increase of 18.53% year-on-year, and reached 1 trillion euros by the end of 2010. [19] en.wikipedia.org Liberals everywhere just love unsubstainable debt!

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