We look after your interests

(+34) 93 626 47 75

Torres Sarrià, Carrer de Can Ràbia, 3-5, 4ª Planta BCN 08017

(+34) 91 794 19 82

Pº de la Castellana, 93 2nd floor MADRID 28046

Cluster Family Office Blog

Here we go...

The worst is yet to come. There is still money available to extend unemployment benefits for some of the unemployed. Fortunately, the momentum of the virtual welfare state we come from is considerable, but it is going to be corrected with a series of harsh blows. It seems the near future is peering round the corner, and the wolf’s ears are indeed as hairy as we feared. Social unrest is beginning to make itself felt in the form of demonstrations protesting against redundancies and collective redundancy schemes, a collapse in consumer spending, the black economy and street recruitment, express kidnappings, violent street drinking binges, and so on. And a significant rise in violence and public insecurity will soon become evident.

In early 2009, we wrote an article entitled Do Not «Disturb», which I hate to say is becoming more and more apparent as the months go by. The year 2010 – and perhaps 2011 – is going to be a brutal wake-up call for a generation that was born and raised in virtual abundance. They have known poverty only in the form of marginalisation and social exclusion affecting a minority. But there will be an ever-shrinking middle class and a growing lower class. A lower class that will have nothing to do with social exclusion or marginalisation, but will consist of familiar faces, former work colleagues and entire neighbourhoods mired in poverty.

Whilst economic stabilisation or even recovery will begin to take hold in countries such as the US, Germany and France from 2010 onwards, in Spain we will run out of breathing space. And by that I mean state capacity, as the personal savings of most middle-class people have already run dry in 2009. The hole formula Spanish is a very simple equation: without extremely high and sustained growth, the future looks bleak, unless we’re given a magic hat with a pair of ears peeking out of it. We are also the epitome of inefficiency: in the last quarter we lost a million wage earners, but in the last year we created more than 100,000 new civil servants. And we already have one civil servant for every five workers, as GurusBlog points out in this informative article.

Productivity is a concept that is alien to some short-sighted trade unions who still believe that workers’ problems are caused by employers’ excessive profits. Not this time. The fact is that some workers and trade unionists are still desperately seeking for the State to provide them with their usual dose of the blue pill in 2009. But by 2010 they will have run out in Spain and we will only have red pills. Blessed are those who got used to them beforehand, for the future will belong to them.

It may just be a coincidence, but I recently received an email – a spam message – with the following content:

Facebook
Twitter
LinkedIn

Security Notice

We have been made aware of phishing and spoofing attempts involving fraudulent email addresses and domains that closely resemble our official company communications. These unauthorized communications are not sent by our company and may falsely impersonate our employees or representatives.

Our company is not responsible for communications, requests, or transactions originating from fraudulent or unauthorized email addresses or domains. Please verify that all communications originate from our official email domain before responding or sharing any information.

If you receive a suspicious email claiming to be from our company, please do not respond, click any links, or provide any information. Contact us directly using the contact information published on this website to verify its authenticity.