The Spanish banks are getting a handout of €30 billion, for this the financial Mafia are insisting on more draconian slashing of public spending and Prime Minister Mariano Rajoy is eager to placate his masters. Four months ago he announced cuts of €27 billion, stating that it was the most austere budget in Spain's history. Now to appease his lords and masters he is pushing through further cuts amounting to €65 billion. The European financial Mafia are insisting on a further 2.7% cut in this year's budget.
At the moment Spain's unemployment is running at 24%, the highest in Europe, with unemployment among the young at a staggering 50%. Once the financial Mafia's new wave of “austerity” starts to kick in we can expect to see those rates go stratospheric. While unemployment is rising, some of the cuts that are going to hit savagely at the Spanish people will be a cut of 30% off unemployment benefit, plus a 3% rise in VAT to 21%. On top of that there will be a €3.5 billion cut in local government spending and a further €600 million cut in central government spending.
There is no doubt that what is happening in Greece and Spain will soon be travelling to a city near you. If anybody is foolish enough to think that what the financial Mafia have done to Greece and what they are in the process of doing to Spain will solve the “crisis”, they are living in cloud cuckoo land. Looking at the recent estimate of the unemployment trend, from The International Labour Organisation, I think they are looking at the situation with rose tinted glasses They have stated that they expect Europe's unemployment to rise from 17.5 million to around 22 million, though staggering and brutal, I see this a a grossly under estimated figure. Meanwhile America is teetering on the precipice of financial disaster.
As the latest manuevers of the financial Mafia unfold, it is blindingly obvious that capitalism as a system for the prosperity of all the people is an illusion. It lurches from crisis to crisis and its only answer is to screw the people, and save the parsites.