Spain: the rain is pouring.

Spain's economic troubles continue. In Seeking Alpha this morning, Kosterhys notes that Spanish deficits are rising again. In addition-Kosterhys notes, "under the surface, there is an economic and fiscal collapse going on in Spain that cannot be reversed by central bank policies. And perhaps even more ominous is the political collapse that is developing parallel to the economic collapse in Spain. Please note that due to fiscal tensions with the central government in Madrid, Catalonia has just recently called for a national referendum and has officially consulted the EU on thesubject of secession from Spain. Similar requests from Basque and other regions may follow."

The desire of Catalonians for independence has been going on now for years. Actually, Catalonia would be satisfied if they had the same taxing privilage as the Basques. But, Spain's government will not agree to this proposed solution, because it would involve a large loss of revenue.