Spain Declares 2-Year Moratorium on Evictions Following Suicides

By Mish   follow   Sun, 11 Nov 2012, 1:37am PST   ↑ Like   ↓ Dislike   2,433 views   16 comments   Watch (1)   Share   Quote  

Spain Declares 2-Year Moratorium on Evictions Following Suicides; Policy Will Blow Up Policy Will Blow Up Spectacularly
http://globaleconomicanalysis.blogspot.com/2012/11/spain-declares-2-year-moratorium-on.html
Mish

Comments 1-16 of 16     Last »

coriacci1   befriend (1)   ignore (4)   Sun, 11 Nov 2012, 1:58am PST   Like (2)   Dislike     Share   Quote   Comment 1

Forget the international bankers they’ve sucked out enough blood already worldwide!

In Spain, they don't rumba to the banquero's beat

http://www.youtube.com/watch?feature=player_embedded&v=Wv5dh8v7mDs

time for a jubilee year!
cancel all unpayable debts and breathe some life back into the world!

zzyzzx   befriend (10)   ignore (6)   Sun, 11 Nov 2012, 10:21pm PST   Like (1)   Dislike     Share   Quote   Comment 2

Hot Deal alert!!! Free rent in Spain for 2 years!!!

lostand confused   befriend (9)   ignore (3)   Sun, 11 Nov 2012, 10:23pm PST   Like (1)   Dislike     Share   Quote   Comment 3

Ok, it appears they are stopping evictions on mortgage holders who stop paying the mortgage for two years. How is that different than here-at least here it is upto the bank and they base it on the size of the hit they would take on their balance sheet as opposed to keeping it on the balance sheet at mark to fantasy. Isn't Spain ruled by the conservatives?

BobMSN   befriend (0)   ignore (0)   Sun, 11 Nov 2012, 10:44pm PST   Like (2)   Dislike     Share   Quote   Comment 4

It is a tragedy that someone takes such an extreme action. It should be investigated if any law was broken. But the policy and the order of the society should not be determined by the isolated case. A few years ago, someone committed a suicide by flying to IRS building. Should IRS stop collecting tax for two years?

lostand confused   befriend (9)   ignore (3)   Mon, 12 Nov 2012, 12:25am PST   Like (2)   Dislike     Share   Quote   Comment 5

BobMSN says

A few years ago, someone committed a suicide by flying to IRS building. Should IRS stop collecting tax for two years?

Yes, that would be very good.

New Renter   befriend (4)   ignore (11)   Mon, 12 Nov 2012, 12:39am PST   Like (1)   Dislike     Share   Quote   Comment 6

I hear students get straight A's for the semester too.

Free rent and perfect scores - what's not to love?

Quigley   befriend (6)   ignore (4)   Mon, 12 Nov 2012, 12:51am PST   Like (1)   Dislike     Share   Quote   Comment 7

Same thing been going on here for years. I guess Spain decided to use some of our American Kool Aide to make their sangria.

FortWayne   befriend (12)   ignore (3)   Mon, 12 Nov 2012, 2:01am PST   Like (3)   Dislike     Share   Quote   Comment 8

All economic pain of this nature is a failure of society to govern itself properly. By stopping foreclosures, they are putting a temporary band aid on the pain, but it is no long term solution.

BobMSN   befriend (0)   ignore (0)   Mon, 12 Nov 2012, 2:07am PST   Like (1)   Dislike     Share   Quote   Comment 9

If someone is addictive to drugs, the most comfortable way to reduce the pain is to give him more drugs.

ja   befriend (0)   ignore (0)   Mon, 12 Nov 2012, 3:44am PST   Like   Dislike     Share   Quote   Comment 10

(As the Spaniard in the list)

- Yes, Spain is being ruled by conservatives, but they are also sensitive to the people's social pressure.

- Believe it or not, culture still matters, and people have the mentality of their house as their life project. Just like that German millionare who committed suicide just for loosing a few millions.

- Now evictions are beginning to affect the good old middle class. So far, it has been mainly for the immigrants that came as construction employees.

- Unfortunately, there is not a non-recourse system. People has to pay for their debts till they die.

- Working class (non-skilled) incomes

ja   befriend (0)   ignore (0)   Mon, 12 Nov 2012, 4:09am PST   Like (1)   Dislike     Share   Quote   Comment 11

btw, in case is not clear.

the evictions will be suspended only into cases of 'extreme necessity'. Of course, this is to be defined later as politic games find convenient.

I'd say you can do worse things as a safety net policy.

FortWayne   befriend (12)   ignore (3)   Mon, 12 Nov 2012, 4:38am PST   Like (2)   Dislike     Share   Quote   Comment 12

IDDQD says

ja says

the evictions will be suspended only into cases of 'extreme necessity'.

"From each according to his ability, to each according to his need" (c) Karl Marx

"From each according to his ability, to each according to his government connections". - Our system.

Don't like either slogan, collectivism is full of crap, and so are the political fraudsters.

ja   befriend (0)   ignore (0)   Mon, 12 Nov 2012, 4:39am PST   Like   Dislike     Share   Quote   Comment 13

IDDQD says

ja says

the evictions will be suspended only into cases of 'extreme necessity'.

"From each according to his ability, to each according to his need" (c) Karl Marx

Wasn't this Obama?
Actually, it may have been Romney as well.

ja   befriend (0)   ignore (0)   Mon, 12 Nov 2012, 5:05am PST   Like   Dislike     Share   Quote   Comment 14

"From each according to his ability, to each according to his government connections". - Our system.

So are you for a flat tax system?

Entitlemented   befriend (0)   ignore (2)   Tue, 13 Nov 2012, 3:12pm PST   Like (1)   Dislike     Share   Quote   Comment 15

Well my forefathers and mothers lived in caves, had no starbucks, and they could kill democrats on the spot without insulting the neigboring tribe. They had low HOA fees and could hunt within meters of their cave entrance.

We did not have "homes" until about 2000 bc. Why kill yourself over something like losing your home?

thomaswong.1986   befriend (0)   ignore (6)   Wed, 14 Nov 2012, 12:46am PST   Like   Dislike     Share   Quote   Comment 16

lostand confused says

sn't Spain ruled by the conservatives?

Don José Luis Rodríguez Zapatero is a member of the Spanish Socialist Workers' Party (PSOE). He was elected for two terms as Prime Minister of Spain, in the 2004 and 2008 general elections. On 2 April 2011 he announced he would not stand for re-election in the 2011 general election. After the crushing defeat his party suffered in the elections, he left office on 21 December 2011.

http://en.wikipedia.org/wiki/Jos%C3%A9_Luis_Rodr%C3%ADguez_Zapatero

Mariano Rajoy Brey is the current Prime Minister of Spain, appointed since 21 December 2011 and is chairman of the People's Party since 2004.

http://en.wikipedia.org/wiki/Mariano_Rajoy

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