António Costo the UNELECTED PM of Portugal.
From bad-mouthing Jeroen Djisselbloem,
calling him a racist, xenophobic and sexist.
calling him a racist, xenophobic and sexist.
A few years ago, the "recessive spiral" was the devil´s slogan
for the restrictive measures imposed by the international community
who had to bail-out Portugal from a sure bankrupcy, with 78 billion euros.
The socialist-communist radical leftists, never stopped shouting
blue murder about the recessive spiral that Portugal
was supposed to be sucked into and would invariably spin out of control.
Uncontrollably lost forever, unable to ever get rid of it's stigma.
The country had NO INTERNATIONAL CREDIBILITY.
But in a painful, but honest way,
Portugal managed to get out of the restrictive measures,
implement structural reforms, gained international credibility
and the unemployment rate,
which had sky-rocketted,
began slowly but surely to decrease.
Faint, but firm economic growth started to gain momentum,
and the country was on the road to full recovery.
Having survived the worst economic crisis,
Portugal earned international respect
and investors began to have faith again in the possibilities of Portugal.
All due to the determination and perserverance
of Pedro Passo Coelho and his coalition government.
Then general elections came up,
and despite the "sufferings" of the crisis, the portuguese had gone through,
they still preferred to choose Pedro Passo Coelho as their PM,
although without a clear majority.
The Socialist Party lost face and came up with the worst results ever.
In a silent coup d'etat, conspiring with the far-left radical communists,
António Costa formed an unelected parliamentary majority
and promised to revert ALL the previous reforms
and cancelled international signed contracts,
and scared away investors,
with the radical communist populism and anti-European attitude.
But now, just 3 years later,
Portugal suffers from a different kind of spiral-
the "euphoric spiral.
Everything is so good in Portugal,
so marvellous, the country is such a paradise.
The euphoric spiral is becoming frankly sickening,
especially when everyones knows that the country
is more and more indebted every second.
The biggest fraudelent illusion
is the "spinning" of the government which tries to cheat
the portuguese into believing in make-belief prosperity.
Supposedly Portugal has just had the smallest deficit
in times of democracy
while the unelected "geringonça" government
hides democracy's biggest debt.
The deficit, for example,
is built in negotiations with the European Commission.
Professor Daniel Bessa noted a few weeks ago,
the level of this "construction" can be measured by the fact that,
in 2016, the "official" deficit was 3807 million euros,
but unfortunately the debt increased by 9590 million euros.
By an astute popular political decision,
only"3807 million euros counted for the deficit,
while 5783 million euros did not count for the deficit".
But for the foreign debt, every euro counts.
As a result of the political decision,
the REAL deficit grew by more than 4.1%, in one year!
much more than the economy of Portugal itself,
and much more than the government´s forecasts.
The international deficit of the debt, decreased between 2014 and 2015.
But it has gradually worsened again, to more than 130% of GDP.
Democracy's smallest deficit hides democracy's biggest debt,
Portugal´s deficit is the second largest in the European Union,
and the second-fastest growing debt in Europe in 2016.
But the nearly insane wave of euphoria has gripped the nation.
The government of António Costa is laughing
and shrugging off all international warnings.
Like offended virgens, António Costa and the whole spin of Portugal
roared like wild lions against the warnings
of the President of the Eurogroup, Djisselbloem)
(who did not mention Portugal at ALL),
about countries who spend money on unnecessary things like
on alcohol and women, (in a metaphoric speech)
and then come begging for more money.
In reality, the cruel truth struck home hard,
hurting all the "sensitive virgins and saints"
because, what Djisselbloem said,
applies perfectly to Portugal.
The government is euphoric about the economy's growth in 2016,
but fails to mention that it is much lower than in 2015,
despite the low interest rates and cheap oil.
The government is obssessed by the deficit,
while trying to hide and ignore the foreign debt.
Portugal is selling debt to be paid in 2050 or even later
at an interest rate of 10%.
TOTALLY UNSUSTAINABLE!!
The country is drowned in more and more foreign debt by the minute,
but the euphoric spiral is spinning away happily.
The Portuguese are in total darkness
about Portugal's cruel reality.
Everything is completely unsustainable, in the long run.
Another bail-out is fast becoming a cruel reality.
At the moment, in Portugal, only the public debt
is the truth and nothing but the truth.
The cruel reality of the truth, however, is that Portugal
continues to be indebted on a large scale,
with an ever increasing aging society,
an economy with an extremely low growth potential,
and increasingly distrustful international creditors,
as evidenced by the difference between the cost
of the Portuguese debt and German debt.
The government confesses to all of these above mentioned difficulties,
but blame the previous government,
or they blame Brussels, or the Eurogroup,
or anyone or anything which may disagree
or have a different opinion.
The Geringonça cut off public investment,
and are taking certain precautions
(part of the increase in debt are called "deposits").
THE HIDDEN FOREIGN DEBT IS THE GHOST OF COSTA´S REGIME!
Meanwhile, the OECD expects an increasing cooling off
of the Portuguese economy,
in a direct reversal of the rise that occurred between 2013 and 2015,
during the Passos Coelho regime.
But who gives a hoot, what are the concerns?
As long as the European Union keeps Portugal artificially alive,
by pumping in new money,
keeping Portugal linked to the ECB's steel lung?
In 2008, the world discovered the sub-prime scandal:
high-risk loans to those who could not afford it.
The ECB is producing another kind of sub-prime:
a politically motivated funding of states that refuse to reform,
ie, to renounce the fiscal and bureaucratic constraints
to which citizens submit.
One day, this new political sub-prime will also be discovered.
For example, all that is needed, is for some elections
to go wrong in France or in Germany.
However, the effect of indebtedness,
transpires in small details,
as in the sarcasm and derision,
with which the celebrated Djisselbloem commented yesterday:
"I expected Portugal to ask for my resignation, but they did not."
Portugal's attitude is quite easy to understand.
In Lisbon, Costa and his geringinça government,
of radical communists are roaring lions,
but in Brussels they are old, tame, decrepit hamsters.
The reason is obvious, because in Brussels,
Portugal is totally dependent
on the artificial financial aid,
dished out lavishly by Germany and other countries,
like Holland and others,
to keep Portugal´s nostrils above the water´s surface,
saving them from drowning in their indebtness,
of an economy without structural reforms,
a hidden debt, out of control,
rating agencies,
maintaining Portugal as "garbage,"
BUT ANTÓNIO COSTA and MÁRIO CENTENO
ARE EUPHORIC!!
Costa and Centeno must have had an overdose of "Laughing gas"
(Nitrous oxide, commonly known as laughing gas or nitrous,
is a chemical compound,
an oxide of nitrogen with the formula N2O).
Its name "laughing gas"
is due to the euphoric effects of inhaling it,
a property that has led to its recreational use
as a dissociative anaesthetic.
BOTH COSTA AND CENTENO ARE UNDER THE
EFFECTS OF A DISSOCIATIVE ANAESTHETIC,
EFFECTS OF A DISSOCIATIVE ANAESTHETIC,
in an ever widening euphoric spiral!!
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