The Economic Collapse Blog: The Next Financial Crisis Has Already Arrived In Europe, And People Are Starting To Freak Out
For the first time since the Global Financial Crisis, shareholders and subordinate bondholders of a failing Spanish bank were not bailed out by taxpayers; they took risks in order to make a buck, and they bore the consequences. That’s how it should be. But bank investors don’t like not getting bailed out.
Now they’re worrying it could happen again. As Popular’s final days showed, once confidence and trust in a bank vanishes, it’s almost impossible to restore them. The fear has now spread to Spain’s eighth largest lender, Liberbank, a mini-Bankia that was spawned in 2011 from the forced marriage of three failed cajas (savings banks), Cajastur, Caja de Extremadura and Caja Cantabria.You mean they're actually being made to pay for their bad investment choices? Didn't think I'd see the day!
Of course some of the people getting screwed will be those who have it hidden away in a portfolio having been put there by another bank and which they have no knowledge of, that and possibly pensions as well.
Aside from that though I cannot see anything of any interest happening in the global news. Perhaps there is a bit of hope something will happen soon, because of the beginning of "negotiations" between May and the EU. Only a few days away.
Also, the fact these Conservative and DUP negotiations are taking so long is probably, because the DUP have made some demands and May's hyper controlling campaign, is trying to convince them basically be an empty vassal like the Liberal Democrats were for the Conservatives in 2010. But the DUP is probably sticking with their guns about whatever it is specifically, perhaps Nigel Farage being part of the Brexit negotiations or the end of the licence fee!
Only one other note is how trapping the current climate is, this is my effort to find some good online conversation:
Astro.com: Aggressively censored pro Trump comments from a crazy moderator that is never dealt with and I was banned. Now is a ridiculous sad soup of the kind of people that are left if you censor all pro Trump speech.
Stefan Molyneux (Free Domain Radio): Controlled like a Communist state controls its citizens free speech. Nothing gets through the moderator and even the most basic comments cannot get through, the guy seems to have a personal grudge against me.
Skyscripts Astrology: Lack of interaction on my posts specifically, I suspect passive aggression and then out of nowhere, active aggression. Someone making personal attacks. (Satisfying to drop that one and not visit it again)
Elsa Astrology Forum: Despite multiple posts am ignored and talked over.
Soon I will be off to work and I am starting to understand what Karl Marx might have meant by the 'alienation' experienced by workers. I go there, work on the phones and leave and nothing I do there in any way relates to the rest of my life!