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its possible.. it's also possible the UK could be fucked or that China will stop buying US debt. the purpose of the press is to scare you.. good news doesn't sell adds.
Spain's pretty fucked, but living here, people are still spending money, tourists are coming back for the new season..
This country needed to slow down it's been on a massive boom for years, and house prices had gone mental. At least now that the banks are starting to lend again housing is more affordable. unemployment is stupidly high but then it always is. the Andalucians are notoriously lazy fuckers and alot of the economy is black.
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