I assume that we all read about the drama of the Obama administration and Congress "working together" to raise the debt ceiling for the United States from the low, low level of something over $14 trillion to--MORE than $14 trillion, a cliff-hanger that has led to the downgrading of the dollar by S&P.
I assume most people are aware that the national debt of Greece is about 150% of that country´s GNP (gross national product), that Italy and Spain are having problems with THEIR national debt, and that all of this is making the world economy very unstable.
On the ground in southern Spain, in the city where I find myself (Jerez de la Frontera) and which is the location for "Domino," a recent newspaper had this to say about the local economy:
The two day old garbage strike, a product of the city´s failure to pay the garbage company, has ended because the city has now paid. It is, however, unclear if the city will have the money to pay NEXT month. (Note that a few months ago, several city streets became very dark at night since the city wasn´t paying the lighting company. That has been temporarily resolved.) The city buses are about to go on strike because of the city's failure to pay them. Etcetera.
Another factoid: the city has a combined debt of over 6 million Euros for city services.
One of the calls for a boycott of a private business. |
Two major employers in the city are on the verge of closing their doors. Lots of smaller shops have already closed or are closing. Aside from strikes by city workers, private business cut-backs and closures have led also led to strikes and to boycotts.
OUR NEXT BLOG WILL BE ABOUT THE "INDIGNADOS" and other matters, and end this theme.
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