Spanish unemployment has hit its highest level since emerging from the Franco dictatorship of the ’70s, rising to an astounding 24.6 percent officially, up from 24.4 percent in the three months to March, according to the National Statistics Institute. The number of unemployed Spaniards is at approximately 5.7 million, and is likely to rise as its government continues to get bailed out and as harsh cuts continue to take effect.
“It’s another example of the dire position the economy is in, and with the economy unlikely to expand anytime soon, and probably more likely to fall deeper into recession, things are only going to get worse,” economist at Capital Economics Ben May said.
Reuters projected the rate to be at 24.9 percent, a figure higher than the official figure, but these statistics tend to be manipulated and inaccurate as well, with many saying the figures are indeed significantly worse.
Spaniards are still trying to make do, with many going to employment offices to find work or an opportunity, and this is despite them knowing the blatantly corrupt situation going on at levels of government:
“They should stop telling us stories and get us out of this situation,” says 34-year-old accountant Jose Maria Collado. Of course the real problem is that the banks have done whatever they wanted to do without any control. That’s why we are in this situation.”
Story is HERE.
If you read the economic headline news every day outside of the basic bought media outlets, this news item is sadly typical in the Rothschild/Rockefeller cabal banking world. It’s no revelation that we’re in some great slowdown, and it’s only a matter of time where some 2008 like financial crash market event comes, except it will probably be a lot worse and involve the banks falling instead of getting bailed out.
The really crazy thing is that Spain is competing heavily with Greece and Italy in the race to the bottom, all while European regulators constantly guarantee while delivering nothing because they can’t, but hey, the stock market casino is at least working, for now.
It’s anybody guess as to what event will crash the EU, but if I were to ponder a guess, I say it comes from several nations at once – a combination of Greek government failure and a new election/holding of new elections, some bank crisis/province financial crisis in Italy that can’t be addressed and a similar situation in Spain. It’s already happened more or less, but a last second stick save by the Euro bureaucrats managed to deliver, but I doubt it can occur a second time around, as there is less support for these actions now than there were even two months ago.