" Friday, the International Monetary Fund informed the world that, in their estimation, Spain is in need of a bailout of ’round about $50 billion to rescue their banking system and save the country from financial disaster. Today, we learned that the real situation is, in fact, much worse than the original estimate, and that Spain would actually prefer an aid package closer to about $125 billion. Well, fancy that — who could’ve seen that one coming?
Spain has an unemployment rate of over 24 percent — the highest in the industrialized world right now — but to listen to President Obama and his Keynesian ilk, it’s because of all this ‘draconian’ ‘austerity’ spreading like a contagion across the eurozone. More stimulus!, they insist, as the solution to all of these fiscal woes. Except, where is all of this free money supposed to come from, exactly?" [Hot Air]
Spain has an unemployment rate of over 24 percent — the highest in the industrialized world right now — but to listen to President Obama and his Keynesian ilk, it’s because of all this ‘draconian’ ‘austerity’ spreading like a contagion across the eurozone. More stimulus!, they insist, as the solution to all of these fiscal woes. Except, where is all of this free money supposed to come from, exactly?" [Hot Air]
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