Clouds over the Spanish economy
Zapatero belatedly used the word "crisis" to describe the country's situation last month, touching a nerve with Spaniards who have not suffered a significant economic recession since the big downturn following the Barcelona Olympics in 1992.
"There was a state of denial," said Roger Cook, managing director for Spain at Cushman & Wakefield in Madrid. "There was not an appreciation that this was not a slowdown, but a serious crisis."
See Also:
Spain's Economy Revisited
Stag,
ReplyDeleteI learned a new term today:
http://en.wikipedia.org/wiki/Biflation
I don't think biflation really exists though - just like the rodents of unusual size. Urban legend is all.
MAB,
ReplyDeleteThat word is a new one to me as well. Had I only known sooner. That really describes our economy.
Biflationary Mark!
Then again, it sounds a lot less macho than Stagflationary Mark (or Stag Mark for short). Perhaps I'll keep my name.
I'm tempted to say I'm biflationary curious since I'd like to know more but man, that sounds even worse! Good grief.
I can't even stay in the [water] closet as we discuss biflation either. The closets were sold off in what can only be described as the worst buy in city history.
Whooo!!!: City Gets Back 0.25 percent of Toilet Investment
http://www.examiner.com/x-257-Seattle-Crime-Examiner~y2008m8d19-Whooo-City-Gets-Back-025-percent-of-Toilet-Investment
If you bought a car in 2004 for $30,000, wouldn't it seem appalling if four years later you sold that car for only $75? You'd conisder that a bit of a terrible investment, right?
Well, the City of Seattle knows what that feeling is like after it's $5 million craps of toilets sold for a combined $12,500 on eBay this past week.
Seattle's $5 million automated public toilets sold for $12,000
http://seattletimes.nwsource.com/html/localnews/2008117767_toilets15m0.html
The high-tech public toilets, with sanitizing water jets and automatic doors, were installed in 2004 to accommodate tourists and transients in Pioneer Square, Capitol Hill, the central waterfront, Pike Place Market and the Chinatown International District. But the city canceled its contract this spring after the commodes became filthy hide-outs for drug use and prostitution.
Sure looks like biflationary activity to me (especially that last sentence).
Miller said he wasn't disappointed with the return on the city's $5 million investment.
I wonder if there is an index fund that I can invest in that tracks the returns of the Seattle's Fleets and Facilities Department. I'm looking for solid [waste] investments that won't disappoint me.
If you want to be a millionaire, start with a billion dollars and open an airline. - Richard Branson