Bill Blain: “Catalan Separatists Made The Risk Of Spain’s Wealthiest Region Decoupling Into A High Probability Event”

‘Reputations changeable, Situations Tolerable. Baby you’re adoreable.’
It’s the start of Q4 and October, always the most volatile month of the year – and it’s started with shock and surprise. Just a few years ago it would have been inconceivable Spain’s vibrant democracy might stumble towards the verge of dismemberment. But this morning… Spain bonds under pressure.. Anyone who thinks populism is dead is profoundly wrong. If it can happen in Spain… it can happen elsewhere.
Big and small political surprises define market..
What did happen yesterday?
It’s about how the story is told.
Maybe the Catalans got lucky, or maybe they planned it this way, but whatever, they just pulled off a stunning success in terms of managing the narrative and setting the agenda. The world heard and saw exactly what they wanted us to see: the Spanish Government defining democracy by denying people the right to express their desires with violence, guns and tear gas.

This post was published at Zero Hedge on Oct 2, 2017.