Spain is taking the bitter medicine of austerity, lower wages and labor market reforms, and an economic recovery is gaining foothold

[Axulus]

Spain has a well above average recovery in Europe, in part because it is allowing its Great Reset to proceed:

The desperation among job seekers is now so acute that many accept work contracts that pay less than the country’s reduced minimum wage — often by agreeing on paper to work two days a week, but actually working many more unpaid hours, experts say. And some, returning to their old jobs, are finding that they must take huge pay cuts.

http://marginalrevolution.com/marginalrevolution/2015/08/facts-about-real-wages.html

It ain't pretty, but it is necessary after years of largesse and living beyond one's means and over regulation of the labor market. Greece could learn a lesson or two.

 

[untermensche]

This theory that the problem was nations living beyond their means is delusion.

The problem was the huge economic crash caused by malfeasance and theft by bankers. And a very stagnant third rate economic system that can't seem to recover from the blow.

But the bankers have been rewarded while people in Spain and Greece and Ireland and many other places that had absolutely nothing to do with the problem suffer under incredibly bad economic policy called austerity.

 

[laughing dog]

Spain has a well above average recovery in Europe, in part because it is allowing its Great Reset to proceed:

The desperation among job seekers is now so acute that many accept work contracts that pay less than the country’s reduced minimum wage — often by agreeing on paper to work two days a week, but actually working many more unpaid hours, experts say. And some, returning to their old jobs, are finding that they must take huge pay cuts.

http://marginalrevolution.com/marginalrevolution/2015/08/facts-about-real-wages.html

It ain't pretty, but it is necessary after years of largesse and living beyond one's means and over regulation of the labor market. Greece could learn a lesson or two.

Spain experienced about an 8% drop in GDP while Greece had over a 25% drop in GDP which makes the comparison a bit more lopsided. Spain's unemployment rate is still over 20% which suggests the OP does not really know the facts or is omitting them.

 

[untermensche]

Spain experienced about an 8% drop in GDP while Greece had over a 25% drop in GDP which makes the comparison a bit more lopsided. Spain's unemployment rate is still over 20% which suggests the OP does not really know the facts or is omitting them.

It's cherry picking economics.

Look for any upturn in any thing and then claim success.

When your program is not based an anything real or provable it is what you do.

 

[Nice Squirrel]

Like Kansas claiming "success" because the US economy recovers.

 

[ksen]

The desperation among job seekers is now so acute that many accept work contracts that pay less than the country’s reduced minimum wage — often by agreeing on paper to work two days a week, but actually working many more unpaid hours, experts say. And some, returning to their old jobs, are finding that they must take huge pay cuts.

Sounds great!

 

[bleubird]

Um.
i heard that Spain's crash had a bit to do with over speculation of real estate.Um,where have I seen this before......

 

[dismal]

Sounds great!

If only there were some way to predict that excess willing supply and black markets would occur every time government tried to fix the price of something above its market clearing price.

 

[ksen]

"market clearing price"

lol

 

[dismal]

"market clearing price"

lol

This makes me think about the same about you as if you said

"Gravity"

lol

 

[Loren Pechtel]

This theory that the problem was nations living beyond their means is delusion.

The problem was the huge economic crash caused by malfeasance and theft by bankers. And a very stagnant third rate economic system that can't seem to recover from the blow.

But the bankers have been rewarded while people in Spain and Greece and Ireland and many other places that had absolutely nothing to do with the problem suffer under incredibly bad economic policy called austerity.

You always blame the bankers but that doesn't make it true. It's government mismanagement that messed up their economies--spending money they didn't have in order to buy voter support.

 

[Loren Pechtel]

This theory that the problem was nations living beyond their means is delusion.

Calling it a delusion doesn't make it so.

The bankers didn't show up at gunpoint and force the governments to borrow. They simply allowed the governments to do so on the understanding that they are sovereign and thus very good credit risks. You're the one who wants to steal, not them.