Tuesday, April 21, 2009

An old Spanish tradition, 21st century style

From the 4/20/2009 New York Times:
The nation’s jobless rate, already a painful 15.5 percent, could soon reach 20 percent, a troubling number for a major industrialized country.

With the combination of rising unemployment and falling prices, economists fear Spain may be in the early grip of deflation, a hallmark of both the Great Depression and Japan’s lost decade of the 1990s, and a major concern since the financial crisis went global last year.

In other news, Pamplona's running of the bears is still on for this July.

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