From the previous post: as you can see the impact of the same news in the Internet edition, just the plain words, it is quite different from the tendencious article on the web page.
When you buy the newspaper the impact of the images, the big typesetting and the article makes you think that Spain is dying at the hands of the financial crisis.
The Telegraph is printed in the old fashioned format, a large page newspaper. On the first page of the business supplement, in red: «Pain in Spain» The Costa del Crash.
There had to be a bullfighter, and a bull, too.
«Foreign Banks flee Spanish property debt.»
The foreign banks are selling, at big discounts and the Spanish banks are buying.
The article of D. Ambrosio quotes David Owen (another anglosaxon) at Dresdner Kleinwort «(Spain) could face zero growth for five years.»
¡ How they envy us !
The Economist and The Telegraph and The Times a few months ago were predicting a growth of about 2 %: it was 3.8 %.
They were also predicting the victory of the party of Aznar, the conservatives in the very misleadingly called Popular Party.
The nasty, unpopular party lost to the nice, really popular Socialists of Zapatero.
The foreign journalists ought to lay off drinking «Cheapo» Whiskey and «Cheapo» Brandy when they visit Spain, they don’t get one thing right.
There really exists in Spain that trademark, popular among you-know-whom.
I recommend Coñac Magno, the one the Guardia Civil drinks. They will start to see Spain as it really is and not get liver poisoning.
There is a severe correction in the overheated state agents business. Some years ago anyone could open an office and sell overpriced working class flats for three or four times as much as they were really worth. That business is finished and the salespeople and executives are unemployed: it couldn’t happen to a nicer bunch of people.
¿Do you know why Spain will pull out of her predicament?
There’s no job seekers allowance in Spain. You get unemployment for some months, according to how long and how much you paid to the National Security.
At the beginning you earn more than working; what, with no travel expenses, not eating out, etc.
After a few months the pay is cut sharply, to 40 % of the base salary.
In successive months it keeps on going down; until after a maximum of 18 months it is finished.
No monies. Spanish or migrant worker from South America, or the Rusias: NADA.
No food stamps either, like in the nice USA.
You want to eat, you have to go the church, or Caritas and beg for food.
No council housing. No money for heating. No nice state handouts -except in the Basque Provinces, for more than obvious reasons.
That concentrates the mind something wonderful.
PS. August, 2012. I am a bit ashamed of this article. Several years later we’re ruined. Next year we’ll be more ruined still.
The only thing is, the UK is also ruined only somewhat slower.