Tag Archives: Mariano Rajoy

Jun 2 2018

GDPR resulting in Destroying German Internet


Armstrong Economics Blog/European Union

Re-Posted Jun 2, 2018 by Martin Armstrong

After the first week, the new General Data Protection Regulation (GDPR) in Europe has done far more damage that Brussels ever anticipated. This regulation, which was intended to really prevent political marketing against the government, is actually destroying the German Internet. Operators have chosen to simply shut down their websites for fear of lawsuits. Many online services have chosen to delete their users’ accounts. In case of violations of the regulation, companies face fines of four percent of their turnover.

At the same time, law firms are licking their lips and see a whole new fortune to be made while rubbing their hands. Lawyers have sprung into action and have set up consumer protection associations armed with this new regulation which explicitly states that consumers are entitled to take action for damages. Activists have targeted companies on a large scale all looking to make huge profits.

The US Supreme Court Chief Justice Warren E. Burger once said: “We may well be on our way to a society overrun by hordes of lawyers, hungry as locusts, and brigades of judges in numbers never before contemplated.” These words seem to be very much on point in Europe. One day, we can only hope that Brussels will admit a serious mistake as just ask – What have we done? But since they refuse to admit error in anything else from creating a federalized Europe without consolidating debts or the refugee issue that is tearing Europe apart, it looks like GDPR is just another nail in the coffin of the EU.

Jun 1 2018

Head of Spain Ousted on Corruption – The Man who Sent in Troops to Catalonia


Armstrong Economics Blog/Corruption

Re-Posted Jun 1, 2018 by Martin Armstrong

The head of Spain, Spanish Prime Minister Mariano Rajoy, who sent in troops against Catalonia has been one of the most corrupt politicians in modern time.  At last, he has been overthrown by Parliament after an unprecedented corruption scandal in Madrid. Now we are introducing political uncertainty in Spain, Italy, and Greece will soon follow. In Spain, a broad party alliance emerged based on the vote of no confidence of the Social Democratic PSOE against Rajoy of the conservative People’s Party (PP). The motion was supported by 180 MPs, requiring at least 176 votes. This is PSOE boss Pedro Sanchez who is the new head of government. He is expected to be commissioned by the king to form a new government quickly. Those who have supported the no-confidence vote included the leftist party Podemos and two separatist parties from Catalonia.

Rajoy simply gave up for his support vanished before the vote. Corruption is fine until it is exposed. Rajoy came to office back in December 2011 and led a conservative minority government since 2016. The PSOE head came out and proclaimed: “Today we are opening a new chapter in the history of democracy in our country.” He is a former economics professor.

The corruption scandal has involved 29 defendants, including former PP leadership cadres, who were sentenced to 351 years in prison for corruption, embezzlement, money laundering and illegal enrichment. Corruption among politicians is just off the charts. Obama’s longtime fundraiser Antoin “Tony” Rezko was convicted on federal fraud and money laundering charges, and anyone else would have been brought up on conspiracy if they were no Obama. On the same day, the Obamas closed on their house, Rezko’s wife, Rita Rezko, bought a vacant lot next door from the same seller, at the full asking price of $625,000 so Obama got a deal on the house. Later, Rezko sold the lot to Obama for $300.000. Obama said he paid fair market value for the property decline. By more than 50%. Of course, the press and the police look the other way when anyone else would call it outright corruption.

Welcome to the real world where corruption is just off the charts everywhere!