By John Mauldin | April 14, 2012
The War for
Spain
Spain Goes “All In” “We Are Not Greece” The New Labor Force A Little Blue Suede Shoe Trouble
I
fully intended to ignore Spain this week. Really, truly I did. I had my
letter all planned, but then a few notes drew my attention, and the more I
reflected on them, the more I realized that the inflection point that I thought
the ECB had pushed down the road for at least a year with their recent €1
trillion LTRO is now rushing toward us much faster than ECB President Draghi
had in mind when he launched his massive funding operation.So, we simply must
pay attention to what Spain has done this week – which, to my surprise, seems
to have escaped the attention of the major media. What we will find may be
considered a tipping point when the crisis is analyzed by some future
historian. And then we'll get back to some additional details on the US
employment situation, starting with a few rather shocking data points. What
we'll see is that for most people in the US the employment level has not
risen, even as overall employment is up by 2 million jobs since the end of
the recession in 2009. And there are a few other interesting items. Are we
really going to see 2 billion jobs disappear in the next 30 years?
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Saturday, April 14, 2012
John Mauldin's Thoughts From the Frontline: More pain in Spain not on the Plain?
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