Ive just spent 45 minutes watching this very thought provoking documentary on the crisis and how the policies governments have employed to combat said crisis are going to be the fuel for the next and much larger crisis.
Effectively the movie makes a point that the stimulus packages employed by various governments have created further bubbles, which will inevitably go pop. In otherwords, were all living on borrowed money and borrowed time and when this fake money runs out, were all going to be shafted.
It does make you wonder what a healthy economy is supposed to look like. Should there be no borrowing and only saving, should everyone be exporting or do we all need to consume more? Isnt there enough jobs to go around, if not, why not?
Its a good movie, highly recommended if your the type of person who enjoys pondering stuff that you’ll never really understand 🙂
EDIT: Apologies if slightly OT and not 100% related to Spain alone, but I think the global view is going to matter a lot more to Spain in 2011 as investors start to look at that 300bn of Spanish bonds to be auctioned.