Geography Archives: Spain

Where is this elusive recovery?  The banks, some say, have “recovered.”  Yet they remain dependent on Washington, they do not make the loans needed for a general recovery, and many medium and small banks keep collapsing.  The stock market shows no recovery.  The Dow index was 14,000 in late 2007 when capitalism hit the fan, […]

  Financial crises and uncertainty go hand in hand; some make sacrifices and others plan on having to.  But how many countries stricken by the global crisis actually feel existentially threatened? Iceland does.  Since the start of the kreppa (“catastrophe” in Icelandic) in the fall of 2008, the small island nation of 320,000 has had […]

Eneko Las Heras, born in Caracas in 1963, is a cartoonist based in Spain.  This cartoon was published on his blog . . . Y sin embargo se mueve on 27 July 2010.  Cf. Hugh Bronstein, “Colombia Taking Venezuela Rebel Accusation to OAS” (Reuters, 17 July 2010); “Chávez advierte que EE.UU. está detrás de acusaciones […]

  Excerpt: Importantly, the initial collapse and following standstill in economic activity and nominal levels of GDP is also extremely bad news for the strategy of fiscal consolidation itself.  On the one hand, to keep on servicing interest payments (see above), nominal debt will continue to go up.  On the other hand, nominal GDP goes […]

Executive Summary: This paper looks at the planned austerity measures in Spain, the rationale for the spending cuts and tax increases, likely outcomes for future debt-to-GDP ratios, and the probable results of alternative policies. It is widely believed that Spain got into trouble because of the over-expansion of government spending.  However, during the economic expansion […]

  Paul Jay: So, first of all, your take on what the G-20 decided, this idea of cuts in Europe and North America and maybe some expansion in China.  And is there some alternative to this? Robert Pollin: Well, the notion of imposing austerity at a moment when we may — may — be slowly […]

Pacho Maturana, Colombian, a man of vast experience in these matters, says that football is a magic kingdom, where anything can happen.  The recent World Cup confirmed his words: it was a strange World Cup. Strange were the ten stadiums where the matches were held, beautiful, immense, which cost a fortune.  No one knows what […]

One thing should be made clear about the situation in the Eurozone economies that is not clear at all if we rely on most of the news reports.  This is not a situation where countries face a “dilemma” because they have overspent and piled up too much public debt.  They do not face “tough choices” […]

The boss commits a violent foul play against the union.  See which side the government red cards. Eneko Las Heras, born in Caracas in 1963, is a cartoonist based in Spain.  This cartoon was published on his blog . . . Y sin embargo se mueve on 14 June 2009.  Translation by Yoshie Furuhashi (@yoshiefuruhashi […]

Excerpt: The mechanisms of crisis Gains for German capital, losses for German workers and periphery i. Monetary union has imposed fiscal rigidity, removed monetary independence, and forced economic adjustment through the labour market.  Workers have lost share of output relative to capital in Germany and peripheral countries. ii. The German economy has performed poorly, with […]

At dawn one year ago, on June 28, soldiers invaded the home of Honduran President Mel Zelaya and flew him to Costa Rica.  It was a frightening throwback to the days when military men, backed by a local oligarchy and often the United States, could overturn the results of democratic elections. It would also turn […]

Eneko Las Heras, born in Caracas in 1963, is a cartoonist based in Spain.  This cartoon was published on his blog . . . Y sin embargo se mueve on 1 July 2009.  Honduran President Manuel Zelaya Rosales was overthrown by the US-backed military coup of 28 June 2009.  “During the six months of the […]

Eneko Las Heras, born in Caracas in 1963, is a cartoonist based in Spain.  This cartoon was published on his blog . . . Y sin embargo se mueve on 23 June 2010.  Translation by Yoshie Furuhashi (@yoshiefuruhashi | yoshie.furuhashi [at] gmail.com). | Print

The global financial crisis that began in 2007 was clearly about money, credit, and finance.  For mainstream economists and politicians — from neoliberals like John B. Taylor at Stanford and Tony Abbott, through pragmatists like Barack Obama and Australian prime minister Kevin Rudd, to Keynesians and social democrats like Paul Krugman at Princeton and John […]

  Listen to Amy Goodman’s interview with Oliver Stone and Tariq Ali: Oliver Stone: So, Chávez was sort of a natural [as a subject for his work] because he is such a demonized, polarizing figure, but when I met him, it was not at all what I thought, you know, what we made him out […]

1.  No state, no money.  Together, a state and its currency constitute, under capitalism, the means to manage the general interest of capital, transcending the particular interests of competing segments of capital.  The current dogma that imagines a capitalist system managed by the “market,” i.e. without the state (reduced to its minimal functions of ensuring […]

The U.S. and European Union together make up about half of the global economy, and recovery is quite uncertain in both of these big economies.  Contrary to a lot of folk wisdom and political posturing, the problem is not irresponsible government spending in either case, but a lack of commitment by the authorities in both […]

The thunderous events set in motion by Israel’s storming of the Mavi Marmara, the lead ship in the peace flotilla challenging the blockade of Gaza, have thrown important light on the overall situation in the Middle East.  Turkey has emerged as the major protagonist among the forces that support the Palestinian cause.  This is extremely […]

General strike, benefit cuts, pension freezes, starvation, wars?  Crisis, what crisis? Repeat after me: We Can Win the World Cup!  We Can Win the World Cup!  We Can Win the World Cup!  We Can Win the World Cup!  YES WE CAN! Juan Kalvellido, born in Cádiz, Andalucía, Spain in 1968, is a working-class cartoonist who […]

Rock! Eneko Las Heras, born in Caracas in 1963, is a cartoonist based in Spain.  This cartoon was published on his blog . . . Y sin embargo se mueve on 28 May 2010.  Translation by Yoshie Furuhashi (@yoshiefuruhashi | yoshie.furuhashi [at] gmail.com). | Print