Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. While I do make mistakes, I try hard to do my analysis thoroughly, and to make sure my data are correct (old habits die hard!) Also, don't ask me why I called it "Volewica". It's too late, now.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Friday, July 27, 2012

1 in 4 Spaniards unemployed

Latest stats.  And the latest austerity measures by the government are likely to worsen the recession -- no, depression, because it is a deep and as long lasting as the Great Depression in the US.  And it's going to get even worse.

And here's where some of the money went.  Isn't it odd how the rich make the money through corrupt projects but the poor pay the price through pay cuts, higher taxes, and unemployment?

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