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ESPAÑISTAN, real estate bubble and Spanish crisis

ESPAÑISTAN, The housing bubble and the Spanish crisis in comic version, by Aleix Salo

Aleix Saló prepares the release of a comic strip set in the Spanish real estate bubble and the subsequent crisis that Spain has suffered since 2008.

For its launch has created a very interesting video that illustrates the process lived in Spain, and that in 2011 it is still suffered.

Enjoy the video:

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And if you want to download the video, I recommend you to follow the next instructions for download videos from firefox.

The destruction of money and the crisis

The money can be created, as I indicated, and can be destroyed. I do not mean to burn banknotes. Merely to repay a loan is a destruction of the virtual money involving own debt. If I sign a promissory note and others used this promissory note as payment, the promissory note is money. If I cancel the debt of the promissory note, the promissory note ceases to exist, the money disappears from circulation. Both money existed in the time before my payment, the promissory note and my money, and when cancelled it ceases to exist the promissory note. Destruction of money.

Continue reading “The destruction of money and the crisis”

Lehman Brothers bankruptcy, the second great bankruptcy of year 2008

In March was Bear Stearns. Now, in september 2008, Lehman Brothers.


Entonces escribí un artículo titulado “;the bankruptcy of the year“;, but the year was not yet over and is the turn to Lehman. In addition, Merrill Lynch has been purchased by Bank of America, It seems a covert rescue operation, as Merrill also entered the bets on the banks who were suffering most in the USA. Continue reading “Lehman Brothers bankruptcy, the second great bankruptcy of year 2008”

Bear Stearns, the first great bankruptcy of the crisis

Bear Sterns went bankrupt and was bought by JP Morgan Chase at $2 a share.

If we take into account that a year before it was worth $150 per share, It is clear that it has been purchased at a symbolic price. About $200 million vs. over $20 billion a year ago.

The credit crisis that we have lived through and that the United States has lived through is to blame for the destruction of almost $20 billion worth of a large company. Continue reading “Bear Stearns, the first great bankruptcy of the crisis”