Pessimism in the Streets
In spite of the "recovery" in Spain, close to 24% are still unemployed. That statistic explains Pessimism in the Streets.
The crisis is here to stay according to significant majority of Spaniards. The general perception is that the current situation in which the country is negative and far from getting better, can only stay stagnant or even worse.Podemos Takes Huge Lead in Latest Poll
A Metroscopia poll published in El País makes it clear that the Spanish are unhappy with the current state of the country. Five out of six (83%) see the economic situation as "bad", while more than half of the remaining perceive "regular".
More than half of respondents (52%) believe that in the coming months nothing will change, compounded with 15% who think things will get worse.
Taking things one step further, overall pessimism explains the results of the latest election polls as Voters Punish PSOE and PP.
Prime Minister Mariano Rajoy and his People's Party are in serious trouble in the upcoming elections later this year.
Dissatisfaction
In spite of the alleged recovery in Spain voters are dissatisfied. Why? Unemployment is still near 24% and youth unemployment is still over 50%.
Recall that Podemos "Economic Manifesto" Calls for Debt Restructuring, Spain to Abandon the "Euro Trap".
"Spaniards should be aware that it is physically impossible that they can pursue policies that meet the national interest, within the euro as it is designed. The euro was conceived as a real trap, but nowhere is it written that people have to accept it ." said Iglesias.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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