danwalk

What If...? Market Contingency Plans

Although the author's question "Why are socialist Spain and the capitalist United States facing the same economic problems?" is a nice turn of phrase, it does not represent reality. By any reasonable account, Spain is just as capitalistic as any other developed market. While the party currently in power is called the Spanish Socialist Workers' Party (PSOE in Spanish), that does not mean the country in and of itself is socialist. In fact, the PSOE is much like all other modern European social democratic parties. Remember that the previous government in Spain (with the Popular Party [PP] in control) was--along with Great Britain--one of the very few that supported the U.S. wholeheartedly in the war in Iraq, much to the chagrin of true socialists.