A tightly coordinated campaign by the Spanish government and its corporate masters.
Numerous common acts in Spain have been turned into illegal acts by the Orwellian-termed “Citizens’ Security” law, more popularly known as the “Gag Law.”
Through crude use of statistics, the Spanish government makes a mockery out of tragedy.
Just 103 days remain before Catalonia’s scheduled and already explosive referendum on independence from Spain, and now this.
The two deals expose the imperative to deny a bleak reality, on the principle that when banks win, we all win.
The law hounds the new media, from blogs to Google, to protect the loyal mainstream press from insolvency and irrelevance. Other governments are ogling similar laws.
In 2013, Morgan Stanley praised Spain’s export miracle, thanks to wage cuts. “Next Germany,” it called it, giving rise to a lot of hope. Now reality has returned.
Money has no moral compunction, moves with ease from drug traffickers into mega construction projects, and politicians need it for campaigns and other purposes.
Gowex was one of the most recommended stocks in Spain, including among the biggest banks. But under attack by a short-seller, it jumped from denial to confession and collapse in five short days, exposing just how well Spain’s regulators function.
Under the guise of austerity, taxes on the middle class and small businesses in Spain and other countries have reached confiscatory levels. But for the wealthy, there is a special deal – and it erupted into a scandal.