Sober Look blog on Spain and UI

Sober Look is a blog that I recently added to my RSS, and might soon delete.

Today the author has an article on Spain's decision to extend unemployment benefits to the mass of Spanish unemployed, and how he feels this will put a damper on Spanish bond support by the EBC/ESM/whoever. Because, I guess, he thinks the smart thing to do is for the Germans to bludgeon Spain into a whimpering pulp before showing them any superior Aryan generosity.*

This type of blogging, an attempt to "manufacture a crisis" by someone who I'm almost certainly is not personally connected to the inner circle of Eurozone plutocrats, and quite possibly has never even seen the inside of Europe, really fucking pisses me off.

General rule that I now scream at the monitor several times a day: If you don't have the inside scoop, then I don't want to know your opinion. Stick to showing me charts.

Speaking of which, upon the announcement? Y'know, the one that's so bad and terrible? What happened, eh?

Spanish bond yields continued to trend down. That's because, like I keep saying, the bond market rewards Spain for countercyclical programs that slow economic contraction, and punishes Spain for stupid shit like austerity or taxpayer-funded bank bailouts.

This is exactly what we've seen throughout all of bloody Europe through the entire fucking crisis.

Quit feeding me crap and give me real analysis instead of political pontificating.


* - Germans are also not known for their generosity.