- Soros figured all the world was his Jonestown, that everyone would commit suicide.
- all the global warming measures put in place because of the "emergency"
- were dumped.
Not surprisingly, markets rallied on this amazing show of will, whose message was that Spain is not Greece.
- It's a heartening story to see a nation on the precipice decide to walk back from the cliff instead of jump. Up until now, socialist states from all over — from Venezuela to Greece — have always resorted to blaming others when the money ran out.
Spain's window into Europe and Latin America gave it a better view than most into how many different ways there are for socialist nations to commit suicide. Spain also witnessed real Hispanic success stories in Chile, Peru and Colombia, as well as Brazil; its recent cutback s would not have been unusual in those successful countries.
This offers important lessons for Europe, but even more so for the U.S., which has embarked on a spending spree and an expansion of public-employee unions."...IBD, "Escaping the PIIGS" 5/13 via Tom Nelson