Presenting Spain's Economic Collapse In Context

Short, but not sweet from ZeroHedge.  Bonus bad graph included..

We have presented many charts over the last few weeks showing the collapse in retail sales in Spain, along with surging unemployment, bankruptcies and non-performing bank loans. But to do justice to the situation, you’ve got to put it in context of the last 150 years, and JPMorgan's Michael Cembalest provides just such context. Spain’s adventure in the Eurozone(Starting in 1986) has sent it into an economic tailspin the likes of which have not been seen, with the exception of the Spanish Civil War, since the 19th century. At that time, the Spanish empire was at the tail end of its colonial decline, and was an under-regulated, agrarian, closed economy subject to frequent crises. The chart shows the details, highlighting the economic declines during revolutions, depressions and agricultural epidemics. Spain’s recent decline has now matched them.

 

Spain Protests: Madrid Barman Alberto Casillas Becomes National Hero for Defying Police [VIDEO]

Great story.  An ordinary man becomes extraordinary by retaining his humanity, defying the police, and protecting those in peril with whom he does not politically agree.  Viva Casillas!  My faith in humanity stands, at least for one more day..  International Business Times: 

A barman that protected demonstrators form police has become a national hero in Spain, after a video of him driving back riot police went viral on YouTube.
Alberto Casillas, 49, prevented police from entering his café in Madrid, as dozen of anti-austerity protesters had looked for shelter from a charge inside the "Bar Prado", earlier this week.

A video posted online, shows Casillas standing in front of the bar entrance, holding his arms out to protect demonstrators telling police: "On my Life, you will not enter! It will be a massacre."

As police stood back, protesters started hugging and thanking Casillias.

"You, you really deserve credit", "it is you that represent us," some demonstrator told him.

Casillias soon became the symbol of the protests against Prime Minister Mariano Rajoy austerity budget plan that is designed to rescue Spanish finances.


People commenting on YouTube appealed for him to run as President and Casillias' Twitter account, opened shortly after the fact, was flooded by messages of gratitude.

However, interviewed by Spanish newspaper El Pais, Casillas revealed to be a supporter of Rajoy's government.

"Let me be clear. I am in favor of the Partido Popular. I am a supporter and voter of Rajoy, but on Wednesday it went too far," he said.

"There were excessive police forces. I am for compliance with the law, but above the law, there is humanity. I did what I had to do, that's all."

Bless you, sir.  The world will need your courageous example in the upcoming chaotic months and years.  Thank you for providing a stellar example of a humane response to evil circumstances.  Casillas=Hero!

Blood, debt and fears: crowds rise up as Spain agrees new €65bn cuts

This time, it's Spain that's heating up.  The Independent.  Excerpts:

The Spanish Prime Minister, Mariano Rajoy, unveiled a fresh round of spending cuts totalling €65bn over two years at a noisy session of parliament yesterday. The measures represent the country's latest bid to convince financial markets that its public finances are in order and prevent a debt crisis spreading to the rest of the eurozone.



At the same time, hundreds of striking miners led a rally which stretched for miles along Madrid's main road in protest over cuts in subsidies they say will destroy Spain's coal industry.


The protesters tossed fireworks and clashed with riot police, who fired rubber bullets, as the unions vowed widespread action for the week beginning on 21 July. The demonstrations spread to the capital's parliamentary building and the headquarters of the governing conservative People's Party (PP).


At least one volley of rubber bullets was fired directly at miners, relatives and sympathisers as they gathered outside the Industry Ministry after marching up Madrid's main north-to-south street, the Castellana.

Expect Spain's tensions and resistance to rise right up to July 21, and then..  It's anybody's guess. 

Society's fabric unravels, unabated, breathtaking in its absolute..  Thoroughness. 

Everything truly is all happening now.