Spain – New Growth Strategy; Sex, Drugs And Dodgy Accounting…(Raging Bull-shit)

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By Don Quijones, freelance writer and translator in Barcelona, Spain. Raging Bull-Shit is his modest attempt to challenge the wishful thinking and scrub away the lathers of soft soap peddled by our political and business leaders and their loyal mainstream media.

Spain’s miraculous economic recovery is a mirage, a collective delusion concocted in the fevered but highly imaginative minds of government ministers, economists and accountants, and then projected on to the mass consciousness as official reality.

When it comes to creative accounting, few can hold a candle to the country’s finance minister Cristobal Montoro, who this week unveiled his latest scam scheme to “grow” the economy: namely to include prostitution and illegal drugs as part of its gross domestic product. This new accounting gimmick will add 20 billion fresh new euros to the country’s GDP — equivalent to a two percent boost. It will also automatically lower the ratio of public debt to GDP as well as the budget deficit, thus making it possible for Spain to “meet” the Troika’s deficit target of 6.5 percent.

Read Full Story Here: http://www.testosteronepit.com/home/2014/6/15/sex-drugs-and-dodgy-accounting-spains-new-growth-strategy.html

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