Spain Can't Pay For Its Weapons

Spain is, as we all know, on an "austerity" program and is, in layman's terms, going broke. Mish, at his Global Economic Trends Analysis, tells us that they have been unable to pay the defense contractors for their weapons systems, and are not going to be able to make future payments without raising their budget. Since they are presently cutting their budget, things look bleak for their military contractors.

Secretary of State for Defence, Constantino Mendez, said that, "We should not have purchased weapons we are not going to use for scenarios of confrontation that do not exist and, more seriously, with money that we did have then and do not have now."

Words to live by. Seriously, words to live by.