G20 Leaders Views on Economy, Budget Deficits, Bank Regulation, Yuan

June 28, 2010

  • June 28, 2010 at 7:46 am
    AMERICAN EXPAT says:
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    Well, Mr. Zapatero (PM Spain) and his vow to persist in his so called “reforms” is doing just what he always does: just talk. The labor reforms he has implemented is a bandaid not likely to create any significant number of jobs, if any. Where he really needed to start was his bloated and inept government. What other western democracy is staffed with THREE vice presidents, ministeries that serve no purpose, and inept ministers, unqualified for the positions held. For example, his latest “brilliant” appointment (Mr. Blanco) was a plumber that did not even complete high school and to a post where an advanced degree in engineering or business (plus experience) would seem to be a minimum requirement. Then, another minister has college training in horticulture, not even closely related to the position held. Worse yet, most have no academic credentials at all. Some ministers and/or government persons are knocking down two or three salaries for pseudo jobs they do not even perform. For example, “Lady Pajin”, a frequent spokesperson, draws three salaries, totalling over 20,000 Euros monthly. There are over 600 advisors on the payroll. There are 17 autonomous governments, also heavily staffed with coffee drinkers, going in separate ways fiscally. Part of his so called reforms includes raising taxes, reducing pensions, reducing salaries, and extending retirement ages, all no no’s in a severe recession situation. And it goes on and on. Zapatero is Spain’s worst nightmare come to life!

  • June 28, 2010 at 1:12 am
    Exclusive Dojo says:
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    Am. Expat,

    You’re right. The problem with Spain and every other country is that the only way they can avert a financial collapse (which by the way will affect non-governmental people worse than governments) is to do what no government in history has ever done: slash spending and reduce its size.

    Hmm, let’s see, I give a small group of people a monopoly on the initiation of violence and the ability to print money at will and things go bad. Gee, how surprising! Oh, I forgot, everything is just fine like MSNBC, Fox News, CNN, et. al. tell us. I guess we can stop worrying and leave everything up to governments!



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