Brand New “Podemos” Political Party Surges Ahead of Incumbents in Spain as Catalans Prepare Informal Independence Vote

Screen Shot 2014-11-03 at 2.54.05 PMI thought one of the principles of democracy is listening to people and allowing them to give their opinions. If people can’t express their opinions, then it’s not a democracy of great quality.

– Artur Mas, President of Catalonia

We all know that Spain has had very rough go as of late. From 50% youth unemployment, to American financial oligarchs Goldman Sachs and Blackstone entering the nation’s depressed real estate market, it seems Spaniards simply can’t get a break.

As is always the case, at some point all populations snap under the relentless weight of fraud and corruption and demand an end to the status quo. It appears that moment may be near for the Spanish population, as evidenced by the incredible rise of the brand new political party “Podemos,” which translates into “We Can.”

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The Spanish Government is Preparing Another Bailout of Billionaire Oligarchs

Over the weekend, I covered the extraordinarily disturbing new law that just passed in Spain which essentially criminalizes protests and allows for up to 30,000 euro fines for simply wearing a mask. It’s all starting to make sense now, as the country’s Prime Minister Mariano Rajoy prepares a new oligarch bailout, this time of the country’s highway operators who of course must be saved at all costs. They know the protests are coming and they want to be able to deal with uppity peasants when they feel the need to get out into the streets. Truly despicable. From Bloomberg:

Spanish taxpayers have bailed out banks and power companies. Next up are highway operators and their billionaire owners.

Prime Minister Mariano Rajoy’s government is considering a 5 billion-euro ($6.7 billion) plan to take over and guarantee the debt of about 364 miles (585 kilometers) of roads, according to two people familiar with the matter who declined to comment because no final decisions have been made.

“This is another repeat of ‘too big to fail’,” Jose Garcia Montalvo, an economics professor at Pompeu Fabra University in Barcelona, said in a telephone interview. “You don’t need to worry if something goes wrong, the government will come to the rescue.”

Oligarch rules.

The roads are controlled by some of Spain’s biggest companies, including the Del Pino family’s Ferrovial SA, the Koplowitz family’s Fomento de Construcciones & Contratas SA, Sacyr SA and Actividades de Construccion y Servicios SA, run by Real Madrid Chairman Florentino Perez. They’re entitled to the rescue through a law passed under General Francisco Franco in 1972, which stipulates that when a private highway goes bust, the state has to repay its owners for the cost of the land and the construction.

Well sure, if a former fascist dictator says it’s the right thing to do…

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