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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.
Thursday, February 7, 2013
The cost of the GFC in Spain
A telling chart. As so often, it is the poor, in fact the poorest of the poor, who suffer: the lowest percentile falling nearly 45% in real terms. The property speculators and the top bankers have pocketed their profits and bonuses. Those who in and closest to grinding poverty pay the price. Shameful.