More grim reading from the press re Spanish Economy

[Jim Allen]

Let me take this a step forward

How many really believe what the papers or the reports say. Reality in the main I would suggest is that if we and admit accept everything the papers did say then the world would be seen through very small eyes.
Agenda ? Of course there are agendas for every possible reason you may think of and these change everyday. Grim news sells news.Look for it and there will be many that supply it,factual or not.
There is no doubt at the moment Spain and many other countries have many problems however unless we are to look at and situation in short, medium and longer terms the focus will be small.
Tend to use the mind a parachute and wont work unless open.
The news regarding the Marbella P.G.O.U plan just may be the start where very slowly it will be seen as a turning point and as this is factual news WHY didn’t it didn’t hardly get a mention.
Marbella first in with mass corruption. Marbella first out ? Who knows but the way back the has to start somewhere.
Perhaps want is needed now is for the Spanish to wake up,realise the party is over, prices cant go up forever while custom declines and this would be just for starters.

[Campo Steve]

JUlian

A cut and paste from one of Beach's links. Thanks for those Beach.

28 Jan 10 1.1558
29 Jan 10 1.1525
01 Feb 10 1.1444
02 Feb 10 1.1446
03 Feb 10 1.1452
04 Feb 10 1.1452


So it dropped over the first couple of days and been pretty steady since 1st Feb.

[Lavanda]

I'm inclined to agree, Jim. My OH was a big cheese in national newspapers for over 40 years and the most interesting news is always what is NOT run. Newspapers are ALWAYS political, with their own agenda, which is to sell copies and make money. State controlled presses shape and control public perception. Anyone surprised by that?

[hiker]

I was quite shocked by the number of businesses gone bust in Nerja recently.
Empty premises every third or fouth shop.

I think there is a disconnect between what I call the "real" economy (ie the high street) and the ivory tower that is the stock market.

The real economy is dead in the water and will be, I think, for about another year maybe two.

No new jobs, no new enterprise, no new ideas.

[Beachcomber]

This is the reality that some people refuse to accept.

[Conehead]

Try this link for history:-

http://www.x-rates.com/d/EUR/GBP/graph120.html

Hit data below the graph to see 120 days worth of data.

[costakid]

The growth was 0.01 so if they are out by 0.02 we are still in reccesion? not much of a margin then. Funny there is a general election just coming up and no doubt labour will be spouting off how they have lead us out of the cra+.

[rt21]

Although there is a margin of error, from what I understand the figures tend to be conservative estimates and when the full data is available the monthly figures tend to rise not fall


Richard

[julian]

the figures are estimates????????

[katy]

Whatever the figures Spain is *beep*, if the UK does bad they do even worse. If the UK does OK they are still *beep*

[rt21]

They are estimates in the sense that the figures are not based on complete data.

The following link perhaps explains it better even though it is an australian article and a few years old

http://www.smh.com.au/articles/2003/02/ ... 53162.html

[julian]

"Whatever the figures Spain is *beep*, if the UK does bad they do even worse. If the UK does OK they are still *beep*"

Katy, I can just imagine you as a guest speaker on one of those tv political debates where they discuss and analise the economic situation in various european countries, where each guest puts forwards their opinions supported by statistics and well documented information.....at least the programme wouldn´t go on so long with your "short, sharp, and to the point" analisis...I´m not sure you´d be invited back though !!!!

[katy]

Julian, this is la la land...I know how to comport myself in the real world. You would be suprised

[Jool]

I am not sure how much the spanish are aware of the real depth of the problems as yesterday in the local market a lot of the conversations I overhead were about how we are going to be better off this year and we are emerging from the crisis.........

[frank]

"I know how to comport myself in the real world"
¿comport? No Spanish plis!

[julian]

Jool wrote................."Well it may have started as all of a sudden in last 3 weeks Estate Agents are busy again over here and their cars are back on the road with clients in them and properties are being sold....coastal bargains these are from the newspaper and websites....and where the Agents are seen......less Agents, better exchange rate, cheaper properties......so it does not feel as depressing over here as this time last year....."

Jool also wrote............"I am not sure how much the spanish are aware of the real depth of the problems as yesterday in the local market a lot of the conversations I overhead were about how we are going to be better off this year and we are emerging from the crisis......... "

you´ve lost me Jool.....are things getting better,???? or are they not getting better???

[Jool]

The figures make depressing reading but over here the energy is more positive........so I would not presume to declare Julian, just sharing factual information based on personal observation....

I leave all the pronouncements to you boys.......

My intuition tells me that now it IS bad but more of a known quantity (whether accurate or not) people have decided to get on with life anyway, forget about saving as we are all up the proverbial anyway and just get on with living and doing what you can to fulfil your dreams. Prices of fruit and veg have dropped etc and markets have crisis prices so more is selling.......

[Jim Allen]

There are maybe hundreds of thousands of off plan properties with legitimate Bank Guarantees that are simply in some sort of time warp of the Spanish justice system year after year.
Surprisingly a friend of mine was caught speeding on a Friday and he had to be in court the following Tuesday ? Seems they do move when it suits.
Getting back to the issue. Somewhere these Bank Guarantees must be accounted for and could reveal some are insolvent.
Who is going to bail these Banks out . What happens to the Bank Guarantees if they don’t.?
Just how can these Banks ever be trusted again. Many questions and dare I say a potential time bomb.
I can read all the reports in papers based on this or that and differs from one to another.
This appears to be something very tangible and lots of heads in the sand

[julian]

well, the pound still sems to be roaring "up" , now down again to 1.137 euro

can anyone explain the logic of why the pound has gone down during all the recent news of the eurozone being in trouble??
I don´t get it !!!

[Jool]

No I don´t understand the sterling move downwards either........

Jim, the answer is simple, but hard to understand if you live in the UK where the law is less corruptible and politically influenced than Spain, the bank guarantees will simply not be paid out. Its mostly foreigners affected anyway........

And don´t forget Spain has sun and beaches so we will be ok, according to the government (the naiivety astounds me)