George Liu's  Instablog

George Liu
Send Message
I am the Chief Financial/Economics Columnist of The Daily Political Review, a Monitored Contributor for FOREXPROS, a Seeking Alpha Certified Contributor, as well as a paid blogger for The Motley Fool Blog Network. I also currently serve on the Board of Directors for Ureka Co. Currently, I am... More
My company:
Ureka Rechargeable Battery Case
My blog:
Motley Fool Blog Network
  • How's Austerity Going, Rajoy? 0 comments
    Apr 8, 2013 8:54 PM | about stocks: EWP, FXE, EUO, ULE, EUFX

    Spanish Prime Minister Mariano Rajoy recently heaped a new round of harsh austerity measures on his country, announcing sweeping cuts and tax increases totaling €65bn in order to appease the troika enough for it to release another series of bailout packages to Spain. Previous austerity measures have crippled the Spanish economy and plunged it further into recession.

    How far?

    Unemployment is at 25 percent and Spain's economic crisis has been dragging on four five years. Perhaps more alarming is that it shows no signs of slowing down.

    According to Reuters and Axesor, a record 2,564 Spanish companies filed for bankruptcy in the first quarter of 2013. This represents a 45% Y/Y increase in bankruptcy filings! Overall, almost 28,000 Spanish companies have filed for bankruptcy.

    Austerity's effects on a demand-sapped economy is taking its toll by taking more demand out of the equation while also cutting aid to those hurt by the weakening demand. Let's hope Rajoy changes course soon.

    Stocks: EWP, FXE, EUO, ULE, EUFX
Back To George Liu's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • $WAC down nearly 20% on EPS of $0.64 compared to analyst estimate of $0.67. Really?
    Mar 19, 2013
  • Why did FMER plunge 11.3% today on news of CRBC acquisition? In my opinion a pretty good deal.
    Sep 13, 2012
  • LULU cools down a little after soaring 13% on Friday on strong $0.39 EPS versus analyst estimates of $0.31
    Sep 10, 2012
More »

Latest Comments


Most Commented
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.