Spain will run out of Social Security credit in 2018, according to Mish. Spain must cut spending or hike taxes, as Mish sees it, but that is a false dilemma. They can always free up the Spanish economy.
1. Deregulate banks. Give the banks no legitimacy from the state, no bank agreements are enforceable by law. Banks must curry full faith and credit with customers on their own.
2. Free trade. End all "free trade" agreements, and announce unilaterally all duties and quotas are eliminated on imports, and as to liability, "the importer is the manufacturer."
3. All government services are voluntary, and the fees charged are directed to state obligations. State obligations are constrained by what fees are gathered from voluntary payments for its services.
For good measure, all property in Spain reverts to the King, and no one is allowed to own property, any current titles are converted to 99 year leases.
The idea is to clear the decks and let Spaniards prosper. Give freedom a chance.
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