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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (673137)9/12/2012 11:05:35 PM
From: tejek  Read Replies (1) of 1578745
 
Answer him about what?
The Spanish construction bubble and how that directly contradicts your assertion that the Spanish economy was "strong" when the recession started.

I was actually talking about the gov't's finances; not the economy. It had a very low ratio comparatively between deficits and GDP. But its true the Spanish economy was strong as well.......and it wasn't just because of the housing bubble. Spain was developing a strong middle class and growing its major industries. Housing was just one aspect of the economy. Unfortunately, Spain has some very large banks and they messed up badly. When they got in trouble over housing, they stopped lending and the economy crashed.

And then the austerity measures imposed by Germany accelerated the spiral leading to the economic mess that is Spain today.
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