jackytoo

Stevie doesn't let things like facts stop him. He should be writing for the Spanish press. Funny how they jump in. Already had to point out yesterday that the IBEX was 15,500 pre crisis.

Beaverstate

Bouncing along the bottom is not bouncing back.

angiescarr

Yep. We're all too afraid to complain now. We just bend over. Those who watch the markets may well be sitting on enough to make them feel comfortable. But there's nothing...absolutely nothing underneath to keep that pile up. Eventually it will fall into the abyss. Dick's right. Nobody likes a prophet of doom but I'm the biggest fish in my little pond and my pond's dried up even for me. Admittedly my trade has little importance or value in the scheme of things but there's nothing left for creativity or innovation so for the first time in my lifetime it seems the clock is going backwards for most people both in prosperity and in innovation. The few months/years that they called the crash were nothing compared to the grinding poverty. Not only in relative terms, but in real terms which means no-one has any money to cycle back into the system. To educate themselves, to innovate. So there's a hollow under even the fat heavy bums of the rich, which will give way eventually. This so called recovery is just an artificial bubble being created to reach it's peak pre-election. Not just in the UK abut Spain too. It's win-win for the sitting government. If they get away with it they *may* sneak back in. If they don't they can blame the inevitable new crash on the new government. I've always said there's a 1/3rd rule. When the cost of housing or utilities goes up beyond 1/3rd each there is little money flowing round the system but maybe they'll delay their personal 'crash' and this the money flow by using credit. When 2 of the 3 go up to more than 1/3rd it's meltdown time. Spain can capitalise by exporting food if the transport costs are low. They can even sell online if they get their fingers out because the Euro is falling slightly against the £ and postal costs are now more competitive. If investment were made in solar and energy costs to consumers were brought down there may be real growth. But right now, we're just treading water and letting a few drown without noticing. I'm afraid it's radical change or nowt now!

steviedeluxe

It's a simple FACT. The Ibex is up 67% since July of last year. And the doomsters hate this fact, for some reason.

Of course this doesn't mean there isn't a long way to go. Spanish exports may be increasing at a solid rate, and tourist numbers may be healthy, but it's true that more jobs need to be found. But judging by the new businesses and enterprises I'm seeing here in Madrid, I have confidence they will exit the crisis through new ventures and increased international exports. They have to, they don't have the option of printing money, devalueing the currency and pumping the housing bubble.

angiescarr

Well I'll keep my fingers crossed that I'm wrong...and you're right. Though money market figures don't mean a whole lot to the unemployed or those on a low income. That's just pretend money being shuffled up top somewhere

sam54140

true but the question is what to do now :-)
most markets are very toppy. we are likely more into a distribution
period than a buy low phase. most of the time the public is in and out at the wrong time.
cautious...

me me

Exactly right.

sam54140

marc farber is sounding the alarm and he will be right at some point.
it "was" a good move to buy after the double bottm of the 2008 collapse (2009).
Now, mmhh....
keep it simple: buy low sell high not the opposite...
everything is high now and topping, bumping its head on a wall, with few exceptions. not worth the risk no more.

Dick Dasterdly

Cafe con Leche in Plaza Mayor anyone ?

If you don't mind stepping around all the homeless kipping in cardboard boxes that is.

When the banks finally stop kicking folk out of their homes onto the streets and the suicide rates drastically diminish is when I'll believe the recovery is well under way.

steviedeluxe

I actually agree with much of what you say. It may be worth buying a place to live in Spain, or indeed in parts of northern England, as you won't lose so much if prices fall further. We were walking around a part of Madrid today and saw a 3 bedroomed flat at 66k in a local agency window. Ok so it obviously needs refurbishment work. But you'd be looking at 300k+ in London. A bubble waiting to burst? Who knows? Maybe things will work out ok?

sam54140

sad.
record high of unemployment 30+ going back living with their pensioned parents in Spain (and elsewhere).
http://www.france24.com/fr/20131016-...e-face-a-crise
not good.
i tell ya, they will leave the euro. they want to be able to relaunch the manufacturing (work done by hands) and play with the currency also to be competitive. just needs ONE of the piigs to start the movement...
But let's not forget even before the euro Spain has had high unemployment. but not the catastrophic under 30s rate. that is a massive crisis.

cricketman

A 66k flat in "Madrid" will either be in a 1950s building overlooking the motorway in the middle of a crackden or actually 30 miles from Madrid in the middle of the desert

Either way, good luck with that investment

Fredbargate

http://www.remax.es/PublicListingList.aspx

steviedeluxe

Nope. We saw other bargain prices around as well. And in a barrio just 3 stops from Sol. You won't get prices like that even in Croydon nor in Peckham.

jackytoo

It said in Diariosur this week that despite an increase in tourism in Andalucia it has had no effect on the job market.