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August 08, 2018, 02:38:10 am suzytr says: Hello, any good churches in the Sacto, CA area, also looking in Reno NV, thanks in advance and God Bless you Smiley
January 29, 2018, 01:21:57 am Christian40 says: It will be interesting to see what happens this year Israel being 70 years as a modern nation may 14 2018
October 17, 2017, 01:25:20 am Christian40 says: It is good to type Mark is here again!  Smiley
October 16, 2017, 03:28:18 am Christian40 says: anyone else thinking that time is accelerating now? it seems im doing days in shorter time now is time being affected in some way?
September 24, 2017, 10:45:16 pm Psalm 51:17 says: The specific rule pertaining to the national anthem is found on pages A62-63 of the league rulebook. It states: “The National Anthem must be played prior to every NFL game, and all players must be on the sideline for the National Anthem. “During the National Anthem, players on the field and bench area should stand at attention, face the flag, hold helmets in their left hand, and refrain from talking. The home team should ensure that the American flag is in good condition. It should be pointed out to players and coaches that we continue to be judged by the public in this area of respect for the flag and our country. Failure to be on the field by the start of the National Anthem may result in discipline, such as fines, suspensions, and/or the forfeiture of draft choice(s) for violations of the above, including first offenses.”
September 20, 2017, 04:32:32 am Christian40 says: "The most popular Hepatitis B vaccine is nothing short of a witch’s brew including aluminum, formaldehyde, yeast, amino acids, and soy. Aluminum is a known neurotoxin that destroys cellular metabolism and function. Hundreds of studies link to the ravaging effects of aluminum. The other proteins and formaldehyde serve to activate the immune system and open up the blood-brain barrier. This is NOT a good thing."
http://www.naturalnews.com/2017-08-11-new-fda-approved-hepatitis-b-vaccine-found-to-increase-heart-attack-risk-by-700.html
September 19, 2017, 03:59:21 am Christian40 says: bbc international did a video about there street preaching they are good witnesses
September 14, 2017, 08:06:04 am Psalm 51:17 says: bro Mark Hunter on YT has some good, edifying stuff too.
September 14, 2017, 04:31:26 am Christian40 says: i have thought that i'm reaping from past sins then my life has been impacted in ways from having non believers in my ancestry.
September 11, 2017, 06:59:33 am Psalm 51:17 says: The law of reaping and sowing. It's amazing how God's mercy and longsuffering has hovered over America so long. (ie, the infrastructure is very bad here b/c for many years, they were grossly underspent on. 1st Tim 6:10, the god of materialism has its roots firmly in the West) And remember once upon a time ago when shacking up b/w straight couples drew shock awe?

Exodus 20:5  Thou shalt not bow down thyself to them, nor serve them: for I the LORD thy God am a jealous God, visiting the iniquity of the fathers upon the children unto the third and fourth generation of them that hate me;
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« Reply #90 on: July 11, 2012, 07:33:09 pm »


Rom 13:13  Let us walk honestly, as in the day; not in rioting and drunkenness, not in chambering and wantonness, not in strife and envying.
Rom 13:14  But put ye on the Lord Jesus Christ, and make not provision for the flesh, to fulfil the lusts thereof
.

http://www.cnn.com/2012/07/11/world/europe/spain-protest-clashes/index.html

Dozens hurt as police, anti-austerity protesters clash in Spain
 

From Al Goodman, CNN
 
updated 3:52 PM EDT, Wed July 11, 2012

Madrid (CNN) -- More than 70 people were injured in clashes in Madrid on Wednesday as Spanish police used rubber bullets and batons to disperse anti-austerity protesters, witnesses and emergency workers said.
 
Protesters, including a group of miners who have marched on the capital, are demonstrating against Spain's government and the cuts it is imposing as it seeks to curb the country's debt crisis.
 
Hundreds of people quickly moved out of the area as police moved in, with witnesses reporting the use of rubber bullets and batons by officers.
 
Madrid's ambulance service said 76 people were injured in clashes at or near the Industry Ministry.

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« Reply #91 on: July 25, 2012, 01:12:40 pm »


http://theeconomiccollapseblog.com/archives/12-signs-that-spain-is-shifting-gears-from-recession-to-depression
#1 At one point on Monday, the IBEX stock market index fell to 5,905, which was the lowest level in nearly ten years.  When it hit 5,905 that represented a drop of about 12 percent over just two trading days.  If that happened in the United States, it would be the equivalent of the Dow falling by about 1500 points in 48 hours.

#2 So far this year, the Spanish stock market is down more than 25 percent.  Back in 2008, the IBEX 35 was well over 15,000.  Today it is sitting just above 6,000.

#3 Spain has banned many forms of short selling for 3 months.

#4 The yield on 10 year Spanish bonds is now well above the 7 percent "danger level".

#5 Thanks to the problems in Spain, the euro continues to fall like a rock.  On Monday it hit a new two year low against the U.S. dollar, and it is near a twelve year low against the Japanese yen.

#6 During the first quarter of 2012, the Spanish economy contracted by 0.3 percent.  During the second quarter of 2012, the Spanish economy contracted by 0.4 percent.

#7 Local governments all over Spain are flat broke and need to be bailed out by the broke national government.  The following is from a recent CNBC article....

Adding to Madrid's woes, media reports suggested another half a dozen of Spain's 17 regional authorities, facing an undeclared funding crisis, were ready to follow Valencia in seeking aid from the central government.
#8 The percentage of bad loans on the books of Spanish banks has reached an 18 year high.  European officials have already promised a 100 billion euro bailout for Spain's troubled banking system, but most analysts agree that 100 billion euros will not be nearly enough.

#9 Spanish industrial output declined for the ninth month in a row in May.

#10 The unemployment rate in Spain is up to an astounding 24.6 percent.  The unemployment rate in Spain is already higher than it was in the United States at the peak of the Great Depression of the 1930s.

#11 The youth unemployment rate in Spain is now over 52 percent.

#12 The Spanish government has just announced a whole bunch of new tax increases and spending cuts which will cause the Spanish economy to slow down even more.  In response to these austerity measures, people are taking to the streets all over Spain.  Last week, 100,000 demonstrators poured into the streets to protest in Madrid alone.

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« Reply #92 on: August 03, 2012, 06:43:43 pm »

http://news.yahoo.com/markets-hold-breath-bold-ecb-action-041413677.html

8/2/12

Spain, Italy reject bailout; Draghi says euro 'irreversible'

Spain and Italy rejected Thursday the need for a bailout after markets fell sharply on disappointment that the European Central Bank did not announce new immediate steps to tame the eurozone debt crisis.
 
ECB head Mario Draghi insisted earlier that the embattled single currency was "irreversible," damning speculative financial market bets against the euro for pushing up government borrowing costs to unsustainable levels.
 
But in the absence of concrete measures, the markets returned to the attack, with Spanish borrowing costs spiking back to danger levels above 7.0 percent and Madrid stocks slumping more than 5.0 percent as Italy was also hit badly.
 
United in adversity, Spanish Prime Minister Mariano Rajoy told a joint news conference in Madrid with his Italian counterpart Mario Monti that their "two countries want to work together" to get through the debilitating crisis.

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« Reply #93 on: August 25, 2012, 10:43:34 am »

Mayor in Spain leads food raids for the people

8/24/12

http://www.workers.org/2012/08/24/mayor-in-spain-leads-food-raids-for-the-people/

In the small Spanish town of Marinaleda, located in the southern region of Andalusía, Mayor Juan Manuel Sánchez Gordillo has an answer for the country’s economic crisis and the hunger that comes with it: He organized and led the town’s residents to raid supermarkets to get the food necessary to survive.
 
Seven people have been arrested in two raids in which trade unionists loaded shopping carts full of food and left without paying, with the support of the townspeople cheering them on and the mayor watching with approval. (reuters.com, Aug. 15)
 
Gordillo, 60, is a leftist and a member of the Izquierda Unida political party. He sports a Palestinian kaffiyeh scarf around his neck and a Fidel Castro-like beard. Gordilla says he wants to draw attention to the plight of the common worker in Spain, a country in which the economic collapse has hit particularly hard and millions are suffering. (europeonline-magazine.eu, Aug. 14)
 
Since 2007, poverty in Spain has risen 15 percent, while unemployment hovers around 25 percent and tens of thousands have lost their homes to bank foreclosures. The conservative national government has only made matters worse, by introducing austerity measures that have worsened the workers’ lives, while bailing out the bankers and capitalists who caused the crisis in the first place.
 
Gordillo plans to lead a march from Jódar, one of the cities most affected by the current economic meltdown, to other Spanish towns, to try to convince other officials to fight back against the ruling class’s demands of cutbacks and increased hardship for the workers. He is fighting dismantlement of state social services, bank payoffs, and the throwing of the common Spaniard under the bus to the benefit of those exploiting them. Gordillo hopes he can convince other mayors to stage a real resistance to the government’s demands.

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« Last Edit: August 25, 2012, 10:48:26 am by BornAgain2 » Report Spam   Logged
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« Reply #94 on: August 25, 2012, 10:46:01 am »

It seems like this "social justice" nonsense has infiltrated almost every aspect of our society...and yes, that includes our "churches"...but what does scripture has to say about this?

Jas 5:1  Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
Jas 5:2  Your riches are corrupted, and your garments are motheaten.
Jas 5:3  Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
Jas 5:4  Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth.
Jas 5:5  Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter.
Jas 5:6  Ye have condemned and killed the just; and he doth not resist you.
Jas 5:7  Be patient therefore, brethren, unto the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth, and hath long patience for it, until he receive the early and latter rain.
Jas 5:8  Be ye also patient; stablish your hearts: for the coming of the Lord draweth nigh.
Jas 5:9  Grudge not one against another, brethren, lest ye be condemned: behold, the judge standeth before the door.
Jas 5:10  Take, my brethren, the prophets, who have spoken in the name of the Lord, for an example of suffering affliction, and of patience.
Jas 5:11  Behold, we count them happy which endure. Ye have heard of the patience of Job, and have seen the end of the Lord; that the Lord is very pitiful, and of tender mercy.
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« Reply #95 on: September 04, 2012, 12:11:17 pm »

http://www.cnbc.com/id/48889555

9/3/12

It is, Julio Vildosola concedes, a very big bet.

After working six years as a senior executive for a multinational payroll-processing company in Barcelona, Spain, Mr. Vildosola is cutting his professional and financial ties with his troubled homeland. He has moved his family to a village near Cambridge, England, where he will take the reins at a small software company, and he has transferred his savings from Spanish banks to British banks.

“The macro situation in Spain is getting worse and worse,” Mr. Vildosola, 38, said last week just hours before boarding a plane to London with his wife and two small children. “There is just too much risk. Spain is going to be next after Greece, and I just don’t want to end up holding devalued pesetas.”

Mr. Vildosola is among many who worry that Spain’s economic tailspin could eventually force the country’s withdrawal from the euro and a return to its former currency, the peseta. That dire outcome is still considered a long shot, even if Spain might eventually require a Greek-style bailout. But there is no doubt that many of those in a position to do so are taking their money — and in some cases themselves — out of Spain.

In July, Spaniards withdrew a record 75 billion euros, or $94 billion, from their banks — an amount equal to 7 percent of the country’s overall economic output — as doubts grew about the durability of Spain’s financial system.
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« Reply #96 on: September 14, 2012, 06:33:25 pm »

http://news.yahoo.com/spain-inches-closer-asking-help-euro-ministers-hint-192223766.html

Spain inches closer to asking for help as euro ministers hint at giving Greece more time

9/14/12
NICOSIA, Cyprus - Spain revealed Friday that it will present a new set of economic reforms by the end of the month, in a move that raises hopes that the struggling country will soon ask for financial help.

The economic reform plan, discussed at a meeting in Cyprus of finance ministers from the 17 countries that use the euro, will be unveiled by Sept. 27. It is expected to be the launch-pad to Spain's tapping of a new European Central Bank bond-buying plan.

Meanwhile, Greece's creditors indicated that it may get more time, but not money, to get public finances into shape.

The two countries topped the agenda of the first day of an informal meeting of European finance ministers in the Cypriot capital Nicosia, which is being held following a run of positive news in Europe's three-year debt crisis.

The ministers, as well as ECB president Mario Draghi and Christine Lagarde, the managing director of the International Monetary Fund, cautiously acknowledged that conditions have recently improved. The ECB bond-buying plan, the creation of a new government in Greece following two elections and a German court ruling in favour of Europe's new bailout fund have all calmed markets and politicians nervous at the eurozone's debt problems.

However they acknowledged that hurdles still need to be cleared if the euro currency is going to emerge intact from the crisis.

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« Reply #97 on: September 14, 2012, 06:39:29 pm »

http://news.yahoo.com/spains-government-debt-hits-75-9-pct-gdp-111035995--finance.html

9/14/12

Spain's government debt hits 75.9 pct of its GDP

MADRID (AP) — Spanish government debt rose to 75.9 percent of its economy in the second quarter of the year according to figures published by the Bank of Spain.

The figure is up 9.2 percent year-on-year and is the highest ratio in at least 22 years. The total debt ascended to €804 billion ($1.0 trillion), up €99 billion year-on-year, Spain's central bank said in a statement Friday.

Central government spending increased by 4.4 percent to €617 billion, representing 58.3 percent of GDP.

Regional government spending grew by 2.8 percent to €151 billion, equivalent to 14.2 percent of GDP, also the highest level in at least 22 years.

The most indebted region in the second quarter was Catalonia with €44 billion followed by Valencia.
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« Reply #98 on: September 25, 2012, 08:36:34 am »

http://beforeitsnews.com/economy/2012/09/panic-cash-withdrawals-in-spain-drain-banks-greece-style-economic-implosion-now-imminent-2452886.html

9/24/12

Panic Cash Withdrawals In Spain Drain Banks; Greece-Style Economic Implosion Now Imminent

Monday, September 24, 2012 by: Ethan A. Huff, staff writer
 
(NaturalNews) Spain appears poised to become the next Greece in the ongoing European Union (EU) implosion, as Spaniards are withdrawing record amounts of funds from Spanish banks to avoid a potential insolvency situation. According to the New York Times (NYT), the equivalent of $94 billion was withdrawn from Spanish banks in July, an amount that equals seven percent of the country’s overall economic output.
 
Though stronger overall compared to Greece in terms of economic diversity and debt levels, Spain is undeniably on a downward economic spiral that is sending many of its people and their money to other countries like England, Germany, and Singapore, where economic conditions are much more favorable. Just like in Greece, there is a growing fear among Spaniards that their nation could revert from the euro to its former currency, pesetas, which would greatly devalue their personal wealth.
 
“The macro situation in Spain is getting worse and worse,” said Julio Vildosola to the NYT. Vildosola, a former senior executive at a large multinational company, recently moved all his money — and is now in the process of moving his entire family — to a small village near Cambridge, England. “There is just too much risk. Spain is going to be next after Greece, and I just don’t want to end up holding devalued pesetas.”
 
 
Spaniards pulling out their cash en masse
 
Vildosola’s opinion is shared by many others in Spain who are also moving their funds and families elsewhere in anticipation of an eventual collapse. Despite all the empty promises being made by EU officials, including a commitment to inject 100 billion euros into the Spanish banking system, the Spanish people, including many from the country’s upper echelons, have lost faith in their country’s ability to stay afloat in the long term.
 
“The wealthy people have already taken their money out,” says Spanish economist Jose Garcia Montalvo about the ongoing capital flight. “Now it’s the professionals and mid-range people who are moving their money to Germany and London. The mood is very, very bad.”
 
During the recent festival of “Diada de Catalunya,” or Day of Catalonia, which celebrates the end of the siege on Barcelona during the War of the Spanish Succession, an estimated 1.5 million people took to the streets to demand that Catalonia, a wealthy region of Spain that includes the city of Barcelona, secede from the country and form its own independent state. (http://latino.foxnews.com)
 
The European Central Bank recently announced that it will buy short-term bonds from member states that agree to abide by certain rules and conditions when applying for assistance (http://economictimes.indiatimes.com). But Spanish Prime Minister Mariano Rajoy has announced his rejection of these conditions, though he has yet to indicate whether or not his country will still request a bailout. (http://www.bbc.co.uk/news/business-19553002)
 
Sources for this article include:
 
http://www.cnbc.com/id/48889555
 
Learn more: http://www.naturalnews.com/037298_Spain_bank_runs_economic_collapse.html#ixzz27R7Zhhpu
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« Reply #99 on: September 26, 2012, 01:02:01 pm »

http://www.nytimes.com/2012/09/27/business/global/daily-euro-zone-watch.html?_r=1

9/26/12

Markets Tumble on Unrest in Greece and Spain

LONDON — Clear signs of the political and social cost of the euro zone crisis sent stock markets tumbling Wednesday as debt-laden Greece faced a crippling 24-hour strike and Spain cleaned up after violent protests Tuesday near the country’s Parliament.

Spanish bond yields approached 6 percent for the first time in months, while European stocks and the euro fell sharply, as developments in Greece and Spain sent a new wave of anxiety through the ranks of international investors.

The Euro Stoxx 50, a measure of euro zone blue chips, closed 2.7 percent lower on Wednesday. National benchmarks were also down, led by the Ibex in Spain, which fell 3.9 percent, and the MIB in Milan, down 3.3 percent.

The euro was at $1.2863, down from $1.2950 late Tuesday in New York.

Spanish bond yields had fallen back from levels thought unsustainable after the European Central Bank announced a plan Sept. 6 to buy the sovereign bonds of debt-strapped euro countries, like Spain and Italy, in amounts sufficient to bring the cost of servicing their debt down to a manageable level.

The renewed spike in borrowing costs indicates that the E.C.B.’s pledge is losing its power to calm markets, at least in the case of Spain. Higher borrowing costs also put pressure on the Spanish government at a time when it is hoping to avoid a full-scale bailout.

The gap between the rates Spain and Italy must pay is growing, with Spain’s borrowing costs rising amid new challenges from disgruntled regional authorities and continuing uncertainty over the central government’s intentions concerning a possible bailout.

Spain’s benchmark 10-year government bond yield rose 30.1 basis points to 5.988 percent late Wednesday, while Italian 10-years rose 10.4 basis points to 5.181 percent. A basis point is one-hundredth of a percent.

Italy’s short-term borrowing costs fell Wednesday at an auction of debt. The Italian Treasury sold 9 billion euros, or $11.6 billion, of 6-month debt priced to yield 1.503 percent. That was down from the 1.585 percent it paid to move debt at the last such auction, and was the lowest it has paid for debt of that maturity since March.

Leaders in Greece and Spain are confronting difficult decisions on spending cuts designed to satisfy either international lenders, or the bond markets, and events in the two nations highlighted the growing European backlash against the politics of austerity.

In Greece, where political leaders are seeking to negotiate a new round of cuts to placate their creditors, protesters clashed with riot police in the first big anti-austerity strike since a new coalition government took power in June.

Several thousand people had converged on the Spanish Parliament on Tuesday, where clashes followed with more than 1,000 riot police. Police baton-charged protesters and some demonstrators broke down barricades and threw rocks and bottles.

The results of an independent assessment on the crisis in the country’s financial system are due to be released this week, along with next year’s budget and plans for new structural reforms.

The Spanish prime minister, Mariano Rajoy, has said he is considering whether to seek a new rescue package for his troubled country to lower borrowing costs, but only if they stay too high for too long. He has already secured a promise of up to 100 billion euros to salvage the nation’s sickly banks.

Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets in Brussels, said the turmoil in Greece and Spain had added to bearish market sentiment that carried over from comments Tuesday in the United States by Charles I. Plosser, president of the Federal Reserve Bank of Philadelphia. Mr. Plosser said the Fed‘s latest effort to bolster the economy by buying bonds would probably be ineffective and said the central bank could risk its credibility.

“We have budget discussions in Spain, the troika decision in Greece and demonstrations in both places,” Mr. Gijsels said, referring to the trio of international lenders, known as the troika, that are negotiating aid to Greece. “That’s not helping things.”

“I would compare the current situation to August 2010, though,” he added, when the world economy was slowing and there were worries about recession and deflation. “This time all the major central banks are pumping money into the system, but back then it was only the Fed.”

That liquidity, Mr. Gijsels said, has to go somewhere, and if the real economy is moribund, it is likely go into the financial markets, bidding up prices for financial assets.

As a result, he said, he did not expect the current wave of selling to be sustained.

David Jolly reported from Paris.
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« Reply #100 on: September 27, 2012, 11:31:19 am »

http://www.reuters.com/article/2012/09/26/us-spain-rajoy-idUSBRE88P09F20120926

9/26/12

(Reuters) - Violent protests in Madrid and growing talk of secession in Catalonia are piling pressure on Spanish Prime Minister Mariano Rajoy as he moves closer to asking Europe for rescue money.

In public, Rajoy has been resisting calls from bankers at home and the leaders of France and Italy to move quickly to request assistance, but behind the scenes he is putting together the pieces to meet the stringent conditions for aid.

With protesters stepping up anti-austerity demonstrations, Rajoy presents painful economic reforms and a tough 2013 budget on Thursday, aiming to persuade euro zone partners and investors that Spain is doing its deficit-cutting homework despite a recession and 25 percent unemployment.

Figures released on Tuesday suggested Spain will miss its public deficit target of 6.3 percent of gross domestic product this year, and on Wednesday the central bank said the economy continued to contract sharply in the third quarter.

By pre-empting reforms demanded by Brussels -- such as creating an independent fiscal auditor -- Rajoy hopes to sell them to voters as home-grown rather than imposed from outside.

Diplomats reported intense last-minute pressure on Madrid on Wednesday from key euro zone policymakers to take tougher measures, notably on freezing pensions.

On Friday, Moody's will publish its latest review of Spain's credit rating, possibly downgrading the country's debt to junk status.

On the same day, an independent audit of Spain's banks will reveal how much money Madrid will need from a 100 billion euro ($130 billion) aid package that Europe has already approved for the banks.

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« Reply #101 on: September 29, 2012, 11:01:00 am »

http://news.yahoo.com/spains-bank-audit-offer-launchpad-aid-request-120532614--business.html


Spain bank audit paves way for state bailout

9/28/12

MADRID (Reuters) - Spanish banks will need a total of 59.3 billion euros ($76.3 billion) in extra capital to ride out a serious economic downturn, an independent report said on Friday, removing a major obstacle in the way of an international bailout for Madrid.
 
Spain said around 40 billion euros of the total will come as European aid while the rest could be raised by the banks themselves.
 
The audit, carried out by consultant Oliver Wyman, is a condition of getting European funds to patch up Spanish banks damaged by a prolonged real estate crash, and identifies which banks need more capital and precisely how much each requires.
 
Spain has agreed a credit line that could provide up to 100 billion euros in European Union rescue funds for its banks.

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« Reply #102 on: September 29, 2012, 06:18:31 pm »

http://news.yahoo.com/spain-portugal-hit-anti-austerity-protests-163232391--finance.html

Spain, Portugal hit with anti-austerity protests

9/29/12

MADRID (AP) — Tens of thousands of Spaniards and Portuguese rallied in the streets of their countries' capitals Saturday to protest enduring deep economic pain from austerity cuts.

In Madrid, demonstrators approached parliament for the third time this week to vent their anger against tax hikes, government spending cuts and the highest unemployment rate among the 17 nations that use the euro currency.

The boisterous crowds in the Spanish capital let off ear-splitting whistles near parliament and yelled "Fire them, fire them!" — referring to the conservative government of Prime Minister Mariano Rajoy.

On Friday, Rajoy's administration presented a 2013 draft budget that will cut overall spending by €40 billion ($51.7 billion), freezing the salaries of public workers, cutting spending for unemployment benefits and even reducing spending for Spain's royal family next year by 4 percent.

Pablo Rodriguez, a 24-year-old student doing a master's in agricultural development in Denmark, said the austerity measures and bad economy mean most of his friends in Spain are unemployed or doing work they didn't train for.

He doubts he will put his education to use in Spain until he is 35 or 40, if ever, will probably get job abroad and stay.

"I would love to work here, but there is nothing for me here," Rodriguez said. "By the time the economy improves it will be too late. I will be settled somewhere else with a family. One of the disasters in Spain is they spent so much to educate me and so many others and they will lose us."

In Lisbon, retired banker Antonio Trinidade said the budget cuts Portugal is locked into in return for the nation's €78 billion ($101 billion) bailout are making the country's economy the worst he has seen in his lifetime. His pension has been cut, and he said countless young Portuguese are increasingly heading abroad because they can't make a living at home.

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« Last Edit: September 29, 2012, 06:20:05 pm by BornAgain2 » Report Spam   Logged
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« Reply #103 on: September 30, 2012, 02:25:02 pm »

http://news.yahoo.com/spains-popular-study-capital-hike-board-meeting-report-100408420--finance.html;_ylt=AvVBvb4tTG3BNBdte3iiperNt.d_;_ylu=X3oDMTZkMzc0bzlxBGNjb2RlA2dtcHRvcDEwMDBwb29sd2lraXVwcmVzdARtaXQDQXJ0aWNsZSBNaXhlZCBMaXN0IE5ld3MgZm9yIFlvdSB3aXRoIE1vcmUgTGluawRwa2cDNDdmMjgxNTEtYTUzNC0zMzRhLTg4MjMtZjhlM2YyMmFlNDZhBHBvcwMyBHNlYwNNZWRpYUJMaXN0TWl4ZWROZXdzRm9yWW91Q0FUZW1wBHZlcgMyNTI5NjU4MC0wYjJkLTExZTItYjZmZS03NTk1NDhkMjc1ZDI-;_ylg=X3oDMTM0M3AwcTAxBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDZGE5Yjg4NzQtMTg1Yy0zMGIwLThkMTUtZTc5MzE3MDlmMDAyBHBzdGNhdANidXNpbmVzc3xlYXJuaW5ncwRwdANzdG9yeXBhZ2U-;_ylv=3

Spain Popular approves capital hike of up to 2.5 billion euros: source

9/30/12

MADRID (Reuters) - The board of Spain's Banco Popular has approved a capital increase of up to 2.5 billion euros ($3.2 billion), a source close to the process said on Sunday.
 
The bank's directors also agreed that Popular would remain independent rather than searching for a partner, the source said.
 
Popular declined to comment. ($1 = 0.7773 euros) (Reporting and editing By Jesus Aguado, Writing by Paul Day)
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« Reply #104 on: September 30, 2012, 02:27:09 pm »

http://news.yahoo.com/spains-debt-rise-90-5-gdp-2013-125459510--finance.html

9/29/12

Spain's debt to rise to 90.5% of GDP in 2013

MADRID (AP) — Spain's public debt will reach 90.5 percent of its gross domestic product in 2013 with its new austerity budget, according to government documents.

Spain also revised its debt ratio forecast for this year to 85.5 percent of GDP, up from 79.8 percent.

Finance Minister Cristobal Montoro said Saturday that Spain's increased interest costs on its public financing are the main cause of the rise: "it is important to reduce this increase and its speed."

Montoro spoke after presenting the 2013 draft budget the government says will cut overall spending by euro40 billion ($51 billion). The budget reduces funds available for unemployment payments by 6.3 percent, and support for Spain's royal house by 4 percent.

Spain is mired in its second recession in recent years with one-in-four workers without a job.
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« Reply #105 on: October 06, 2012, 07:37:31 pm »

http://news.yahoo.com/thousands-march-protest-austerity-cuts-spain-182429190--finance.html

10/6/12

Thousands march to protest austerity cuts in Spain

MADRID (AP) — Several thousand people marched in downtown Madrid on Saturday to protest austerity measures they say will lead to cuts in cherished national health care and the privatization of public services.

Marching under banners reading "Neither cuts nor privatizations," many protesters were civil servants hit with a wage freeze next year.

Spain is experiencing its second recession in three years, is burdened with an unemployment rate of nearly 25 percent and social unrest is on the rise. The number of people registered unemployed rose to 4.71 million in September as the tourism season ended and businesses let workers go.

"I work in a hospital, but I'm about to end up unemployed," 58-year-old nurse Victoria Gutierrez said. "On Oct. 30, my temporary contract will finish and it won't be extended.

"We have minimum cover on every floor at every hospital," she said. "This is affecting not just hospitals, also education and civil services, everything."

The government has pushed through nine straight months of tough austerity measures which have prompted Spain's 17 regional governments, some of which are heavily indebted, to slash spending in health care and education.
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« Reply #106 on: October 10, 2012, 10:51:51 pm »

http://news.yahoo.com/p-cuts-spain-credit-rating-two-notches-bbb-210958945--finance.html

S&P cuts Spain credit rating to BBB-minus, near junk

10/10/12

..

NEW YORK (Reuters) - Standard & Poor's on Wednesday cut Spain's sovereign credit rating to BBB-minus, just above junk territory, citing a deepening economic recession that is limiting the government's policy options to arrest the slide.
 
The S&P downgrade comes with a negative outlook reflecting the credit ratings agency's view that there are significant risks to economic growth and budgetary performance, plus a lack of clear direction in euro zone policies.
 
"In our view, the capacity of Spain's political institutions (both domestic and multilateral) to deal with the severe challenges posed by the current economic and financial crisis is declining," S&P said in a statement.
 
S&P's two-notch downgrade from BBB-plus brings it in line with Moody's Investors Service's Baa3 rating. Moody's has Spain on review for a possible downgrade.
 
Both firms have Spain just on the cusp of junk status. Fitch Ratings has a BBB rating on Spain, one notch higher, but also with a negative outlook.
 
A spokeswoman at Spain's Economy Ministry told Reuters the government had no comment on the ratings action.
 
The country has been in recession since earlier this year, its second economic contraction in just a few years, and unemployment is stubbornly high at close to 25 percent with a return to job creation still two years away.
 
Falling tax revenue and rising costs of unemployment benefits are confounding the government's efforts to hit a 2012 deficit reduction target of 6.3 percent of gross domestic target agreed with the European Union.
 
Both the International Monetary Fund and Spain's own Central Bank cast doubt on the savings envisioned in Prime Minister Mariano Rajoy's 2013 budget, saying they are based on a too-rosy outlook for the economy.
 
In the wake of the downgrade, the euro dropped about 0.25 percent to $1.2865 in late New York trade from just under $1.29 prior to the news.
 
"This is weighing on the euro. A downgrade from S&P could be followed by a downgrade from Moody's, and while S&P did not downgrade Spain to junk, Moody's might," said Kathy Lien, managing director at BK Asset Management in New York.
 
"If Moody's goes to junk status, that's even more significant, and this adds to the pressure on Moody's to make a decision. It could lead to higher bond yields in Spain and push the government closer to asking for a bailout," Lien added.
 
In European trade earlier on Tuesday, ten-year Spanish bond yields fell 1 basis point to 5.83 percent. Those yields spiked above 7 percent earlier this year, but have since come down on a European Central Bank bond-buying plan.
 
SOCIAL DISCONTENT AND EURO ZONE DOUBTS
 
Prime Minister Rajoy's centre-right People's Party has an absolute majority in parliament and so far has been able to pass spending cuts and economic reforms without any problem.
 
However, street protests have increased in recent months as Spaniards revolt against public sector wage cuts and lower spending on education and healthcare. Resentment is also rising over huge public bailouts for the country's crippled banks, while social benefits are cut.
 
Although Rajoy's PP governs 11 of 17 Spanish regions, which have been forced to make massive budget cuts, S&P noted that tensions between the central and regional governments are rising, "leading to substantially diluted policy outcomes."
 
The agency said Rajoy's resolve will be "repeatedly tested by domestic constituencies."
 
Although the European Central Bank has set up a bond-buying program that would support Spanish debt prices on the secondary market, Spain has balked at signing up for international aid because it would come with harsh conditions.
 
"We view the Spanish government's hesitation to agree to a formal assistance program ... as potentially raising the downside risks to Spain's rating," S&P said in its note.
 
The agency also said that euro zone policy makers must show progress on implementing a banking union that would allow Europe to directly recapitalize Spanish banks, taking the weight off of the Spanish government.
 
(Reporting by Daniel Bases, Luciana Lopez and Steven C. Johnson in New York; Fiona Ortiz and Carlos Ruano in Madrid; editing by Dan Grebler, Gary Crosse and Leslie Gevirtz)
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« Reply #107 on: October 19, 2012, 06:01:54 pm »

Spain’s Regional Bailout Fund: A Drop In A Bucket Of Insolvency
19 October 2012
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2012-10-19/spains-regional-bailout-fund-drop-bucket-insolvency

It will come as no surprise to many that the initial size estimates of Spain's regional bailout fund are now being questioned.

The government is now 'analyzing' whether the EUR18bn 'temporary' bailout fund needs to be increased. In a word - Yes!

As this chart from Bloomberg Briefs shows, the size of the 'help' is pittance compared to the debt-loads of Catalonia alone (which recently sought secession).



As Bloomberg's Niraj Shah notes, Spanish regional elections in the Basque country and Galicia take place on Sunday, followed by a ballot in Catalonia on Nov. 25.

Prime Minister Mariano Rajoy may prefer to seek a bailout after the elections as a series of defeats for his People’s Party could exacerbate investor concerns about the government’s ability to control spending and revenue and bring down the deficit.

Perhaps our 'context' update on Spain's situation last night was rather prescient after all?

In what seems like a remarkable coincidence:

Spanish region of Asturias will seek EU261.7m from central govt’s rescue fund for regions

Source: Bloomberg Briefs
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« Reply #108 on: October 25, 2012, 09:25:11 am »

http://news.yahoo.com/spains-santander-had-30-billion-euros-state-debt-093504234--finance.html

.
Spain's Santander had 30 billion euros state debt position at end: September
Reuters – 4 hrs ago.

MADRID (Reuters) - Spain's biggest bank Santander on Thursday said it owned around 30 billion euros of Spanish sovereign debt at the end of September.
 
"When it comes to public debt, exposure to Spanish sovereign debt is around 30 billion euros," Santander Chief Executive Alfredo Saenz said during a conference call with analysts.
 
He added the holdings had come down from 35 billion euros in the previous quarter after debt matured.
 
Saenz also said bad loans would peak across the group towards the end of 2013.
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« Reply #109 on: October 30, 2012, 05:10:03 pm »

Spanish Contraction Continues, Austerity Spurs Inflation
30 October 2012, by Emma Ross-Thomas (Bloomberg)
http://www.bloomberg.com/news/2012-10-30/spanish-contraction-continues-as-austerity-spur-inflation.html

Excerpt:

Spain’s economy contracted for a fifth quarter, undermining efforts to plug the budget deficit that’s pushing the nation closer to a bailout, while austerity measures kept inflation at a 17-month high.

Gross domestic product declined 0.3% in the three months through September, compared with 0.4% the prior quarter, the National Statistics Institute said today.

That compared with the Bank of Spain’s estimate on Oct. 23 of a 0.4% contraction. Consumer prices, rose 3.5% from a year earlier, Madrid-based INE said.

The prolongation of Spain’s five-year slump, which is prompting record loan defaults at the nation’s banks and job cuts at companies including Gamesa SA, adds to pressure on Prime Minister Mariano Rajoy as he resists requesting international aid.

While the tax hikes he’s implementing as part of his austerity program are depressing consumption, they are also spurring inflation, which threatens to add €3 billion ($3.9 billion) to the country’s pension bill.

“The real discussion should be about how protracted the recession will be and if you look at the fiscal tightening you really have to be conservative about next year,” said Martin Van Vliet, an economist at ING Bank in Amsterdam.

“I’m very concerned about the size of the fiscal tightening, the fact they’re going to miss their deficit targets and the fact Rajoy is delaying the request for aid.”
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« Reply #110 on: November 05, 2012, 09:17:52 pm »

Spain jobless claims rise 128,242 in October
5 November 2012, by Barbara Kollmeyer - Madrid (MarketWatch)
http://www.marketwatch.com/story/spain-jobless-claims-rise-128242-in-october-2012-11-05

Jobless claims in Spain rose by 128,242 in October, bringing the total number of unemployed to 4,833,521, a rise of 2.7%, according to official statistics released Monday.

The October rise, though, is below that of a year ago, when claims rose by 134,182 and also marks the fifth consecutive month that has shown an improvement on an annual basis.

Also for the month, 76% of the rise in jobless claims came from the services sector. Spain is suffering a severe economic downturn owing to the collapse of a decade-long housing bubble.

Its jobless rate hit 25% in the third quarter.
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« Reply #111 on: November 10, 2012, 10:05:26 am »

http://apnews.myway.com/article/20121109/DA2ELHV03.html

11/9/12


Spanish woman jumps to her death as eviction looms


 
MADRID (AP) - A woman in Spain jumped to her death as bailiffs approached to evict her Friday from her fourth-floor apartment for failing to pay the mortgage, officials said.

It was the second apparent suicide linked to evictions, and it further illustrates the dire conditions many Spaniards find themselves in as the country's economy sinks. The government recently created a task force to study how to reduce evictions because of the devastating personal impact of repossessions due to tough Spanish mortgage rules and growing unease among the public on the subject.


more

http://rt.com/news/spain-woman-suicide-eviction-378/

11/10/12

Evicted Spaniard's suicide brings thousands to the streets (PHOTOS)

Thousands of people have taken to the streets of the Basque Spanish city of Barakaldo to condemn the suicide of an evictee as well as to protests against further foreclosures.

­Fifty-three-year-old Amaia Egaña jumped four floors to her death as bailiffs prepared to kick her out after she failed to stay current on her mortgage payments. She is the second person in less than three weeks to commit suicide in the face of an impending eviction.

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« Reply #112 on: November 14, 2012, 05:51:10 pm »

http://news.yahoo.com/anti-austerity-strikes-sweep-southern-europe-135200865--business.html

11/14/12

Anti-austerity marches turn violent across southern Europe

MADRID/LISBON (Reuters) - Demonstrations turned violent in Spain and Portugal after millions took part in a mostly peaceful general strike on Wednesday in organized labor's biggest Europe-wide challenge to austerity policies since the debt crisis began three years ago.

In Lisbon, marches ended with a level of violence not seen since the crisis began, with police charging demonstrators who hurled stones and bottles, leaving nearly 50 people hurt.

Protesters in Madrid burned rubbish bins, filling the central boulevard with smoke, while in Barcelona demonstrators burned police cars.

Riot police fired rubber bullets to disperse protesters in both cities, where more than 140 people were arrested, including two said by police to be carrying material to make explosives, while more than 70 were reported injured.

Hundreds of flights were cancelled, schools were shut, factories were at a standstill and trains barely ran in Spain and Portugal where unions held their first joint general strike. Stoppages in Belgium interrupted international rail services.

Workers also protested in Greece and France against austerity policies that have taken a heavy economic toll and aggravated mass unemployment.

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« Reply #113 on: November 17, 2012, 08:49:21 pm »

http://www.bloomberg.com/news/2012-11-15/spain-suicides-spark-law-risking-bank-losses-mortgages.html

11/15/12

Spain Suicides Spark Law Risking Bank Losses: Mortgages

Spain, responding to street protests and reports of suicides linked to foreclosures, introduced rules to help protect families from eviction, increasing the risk of creditor losses and weakening an already fragile banking system.

Banks won’t be able to remove families who can’t pay their mortgages for two years, Deputy Prime Minister Soraya Saenz de Santamaria said yesterday after the government’s weekly Cabinet meeting in Madrid. The rules apply to households earning less than 1,597 euros ($2,041) per month combined with certain other conditions such as young children in the property.

Spain is trying to balance the threat of social unrest with protecting the banks, four of which have been nationalized. While the rule is designed to help the poor without triggering a larger rise in non-payments it may increase the size of the nation’s bank bailout and harm the interests of European lenders with $110.4 billion of exposure to Spanish lenders.

“It seems clearly meant for extreme cases and is supposed to not overly dilute the rights of banks,” said Bernd Volk, the head of covered bonds and agency research at Deutsche Bank AG. “However, it seems difficult to assess the practical relevance as anyone can probably claim that some criteria apply and stop paying the mortgage.”

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« Reply #114 on: November 19, 2012, 08:42:29 am »

As we see in Europe, as horrible as their debt-ridden economy is getting, it's not exactly "crashing" per se, like you hear media reports(both mainstream and independent) keep saying will happen imminently every now and then.

HOWEVER, the NWO minions are getting exactly what they want - not only high unemployment, more bailouts, etc, but RIOTING in the streets et al by the citizens, which has gone on for over 2 years now. This is the kind of reaction they want, so that ultimately they can get everyone on their knees to accept the new system(when it comes around).

And this is exactly one of the main goals the NWO minions want here in America - massive riots to provoke Martial Law, and the "truther" media like Alex Jones is one venue that is doing all they can to fuel the fire.

Anyhow, like we discussed in other threads(and I discussed with a brethren in a pm over the weekend) - alot of this back and forth talk over what is going on behind the scenes is nothing but a dog and pony show, and even the independent news sources are conflicting one another. But again, ultimately, it's the NWO minions that are the ones trying to get that negative reaction from the citizens.
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« Reply #115 on: November 25, 2012, 05:15:26 pm »

http://news.yahoo.com/spain-eu-bank-aid-december-15-return-job-125831743--finance.html

Spain to get EU bank aid December 15 in return for job losses: report

11/25/12

MADRID (Reuters) - European authorities will transfer 35 billion euros to Spain's state bank rescue fund on December 15 in exchange for massive layoffs at Spain's four nationalized banks, including state-rescued Bankia , El Pais newspaper reported on Sunday.

The cash injection from European bailout funds will be disbursed to troubled Spanish banks two weeks after it is paid into Spain's bank restructuring fund, or FROB, the paper said.

Bankia, which sought a 23.5 billion euro bailout from the state in May, is expected to be forced to lay off up to 6,000 people from its current 20,000 staff, while NovaGalicia Bank is seen laying off 2,000 of its 5,800 workforce, said El Pais, citing European and banking sources.

Bankia and NovaGalicia Bank declined to comment on the report, which also said the banks would have to close 1,000 branches between the two of them.

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« Reply #116 on: December 14, 2012, 10:01:54 pm »

Spanish Debt Reaches Historic Numbers
14 December 2012, Madrid (Prensa Latina)
http://www.plenglish.com/index.php?option=com_content&task=view&id=807811&Itemid=1

The Spanish national debt reached 77.4% of the GDP in the third quarter of the current year, highly exceeding the figure allowed by the EU, the Bank of Spain reported on Friday.

Indebtedness of public administrations (State, autonomous communities and city halls) increased 1.55% in comparison with the second quarter of 2012, up to €817,164 billion, the equivalent to 77.4% of the GDP.

According to central bank data, it is the highest level of indebtedness of the whole historic series that began in 1990.

Compared to the same quarter of 2011, when it exceeded €708,500 billion, the debt of all the administrations together increased 15.3%.

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« Reply #117 on: January 03, 2013, 08:27:15 pm »

Spain Plunders 90% Of Social Security Fund To Buy Its Own Debt
3 January 2013, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2013-01-03/spain-plunders-90-social-security-fund-buy-its-own-debt

Excerpt:

With Spanish 10Y yields hovering at a 'relatively' healthy 5%, having been driven inexorably lower on the promise of ECB assistance at some time in the future, the market has become increasingly unsure of just who it is that keeps bidding for this stuff.

Well, wonder no longer. As the WSJ notes, Spain has been quietly tapping the country's richest piggy bank, the Social Security Reserve Fund, as a buyer of last resort for Spanish government bonds

- with at least 90% of the €65 billion ($85.7 billion) fund has been invested in increasingly risky Spanish debt
.

Of course, this is nothing new, the US (and the Irish) have been using quasi-government entities to fund themselves in a mutually-destructive circle-jerk for years

- the only difference being there are other buyers in the Treasury market, whereas in Spain the marginal buyer is critical to support the sinking ship.

The Spanish defend the use of pension funds to buy bonds as sustainable as long as it can issue bonds - and yet the only way it can actually get the bonds off in the public markets is through using the pension fund assets.

The pensioners sum it up perfectly "We are very worried about this, we just don't know who's going to pay for the pensions of those who are younger now," or those who are older we would add.
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« Reply #118 on: January 04, 2013, 03:41:40 am »

Is all of this financial mess an intentional effort to cause collapses for some kind of gain, or is it just an expected result from the system being driven by the love of money? It may be a combination, but ultimately, their system is flawed as a result of their lust for profits and getting gains.
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« Reply #119 on: January 04, 2013, 10:44:27 am »

Is all of this financial mess an intentional effort to cause collapses for some kind of gain, or is it just an expected result from the system being driven by the love of money? It may be a combination, but ultimately, their system is flawed as a result of their lust for profits and getting gains.

And the NWO minions' master is Satan(ie-look at all our world leaders and their ties to Freemasonry, Catholicism, etc).

Pro_22:7  The rich ruleth over the poor, and the borrower is servant to the lender.

James 5:1  Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
Jas 5:2  Your riches are corrupted, and your garments are motheaten.
Jas 5:3  Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
Jas 5:4  Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth.
Jas 5:5  Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter.
Jas 5:6  Ye have condemned and killed the just; and he doth not resist you.

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