Spain is on the cusp of implosion and everyone is asking if Spanish Prime Minister Mariano Rajoy will request a bailout from European Central Bank President Mario Draghi.
Yet, in reality, the question is not “if” but “when.”
Things get a little complicated since Rajoy was elected on the promise of not asking for help from his European neighbors.
Therefore, if Rajoy breaks his promise, that would force the Spanish people to be held under the thumb of a foreign entity, making Spain both controlled and obligated to the ECB. In the past, wars have been fought to avoid that type of situation.
The mixture of over 50% Spanish youth unemployment along with foreign decrees on wages, retirement, and jobs makes for a highly flammable situation.
It seems the initial battle of words and bullets is starting to play out in the streets of Madrid and other Spanish municipalities.
As millions of words have been written and discussed about this quandary, more important is the impact and reaction which is looming on the horizon.
Each and every day we watch on the internet as the youth of Spain exhibit their frustration. No jobs, no money, no future.
Yet, just a few short years ago, it was totally different.
Educated children had a future, there was stability in the job market, and one generation advanced beyond the prior generation due to unlimited opportunities.
As the bankers and Keynesians took more and more control, however, the inevitable was less and less potential for the remainder of the population.
There is always a reaction to the action. Initially, it is defined as winners and losers. Regrettably, whether it’s Spain, Greece, or even the good ole USA, the amount of winners is not equal to the amount of losers.
Each country of the world which first followed Japan and now the U.S. down the Keynesian black hole will realize the same dreadful consequences sooner or later.
Since that is the case, then it is only a matter of time until we are reading, hearing, and seeing that our American youth are walking the streets wondering why half of them, just like the Spanish youth, are out of work and see a future devoid of promise.
Who’s to blame, they’ll ask?
It will only take a few texts, one or two sessions on Facebook, or a handful of tweets from their peer groups in Spain, Greece, China, or even California until they get their answer.
When they do get their answer the Keynesians better be prepared because the American youth will have seen what to do and their passivity and complacency will be no longer.
Along with his 40-years of dedication in the financial services industry, Bill is the President and CEO of GPSforLife, has recently authored a highly successful book entitled 44th: A Presidential Conspiracy, publishes his dynamic monthly financial newsletter MacroProfit, and faithfully continues his third decade on the radio with It’s All About Money, which can be heard weekdays on Money Radio in Phoenix and in podcast form on his website (and on smartphone apps) published at billtatro.com weekdays at 5pm Eastern. Bill can be reached via email at email@example.com and on Twitter @tatroshow.
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