Re: Re: cajas again

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Chris McCarthy

@brianc_li wrote:

Interesting, if worring, piece.
Chris, reading your reaction I’m reminded of that from various EA members of this community to the Variant Perception report “Spain the Hole in Europe’s Balance Sheet” back in Nov 2008.

Brianc_li, perhaps you read me wrong, I can see the arguments are certainly coherent, I meant it when I said it was a great link, what I think I am trying to say here is, that I personally don’t know what to believe anymore.

So I kind of try to give up worrying about it at all.

This was meant from a personal perspective, very late at night, not an EA position as such. There are a few very insightful minds on this forum who present the lets call it “higher economic arguments / data / links” and I eat up as much as I can understand, but I have to be honest a lot goes straight over my head. That is why I rely upon you to explain a lot for me!

My question is, in this age of 24 hour news, 24 opinions to one simple question available on Google, 24 hours till the end of civilisation it seems sometimes, how much credence do we give this now?

We all know the situation with the Cajas, we all know the Spanish Central Bank seems to have effectively and creatively accounted for unbelievable amounts of debt in property throughout Spain so as not to bring down the national economy. We know it is one helluva mess.

In the grand scheme of things, I just don’t know anymore how worried I should be about this, or whether I should just give up worrying about any of it. Won’t the Costa del Sol be there in a week, year, ten years and on way beyond me? Won’t there be boom and bust all over again?

Is the world going to end tomorrow?

I am righteous about the cost of a G&T, a game of golf, I equally despair of what happened in terms of illegal build, and a dozen other issues that are certainly in the negative. So hopefully I am not all EA speak, but does it all matter is what am asking myself?

Should I just get on with what is instead of reading my 1,000th economic position on what is going to happen the Spanish economy, even if it all goes somehow up in the air, well then it will just have to recover no? It might even be a good thing?

I just don’t know.