The FINANCIAL TIMES recently wrote:
 
10 BEST SAFETY PLACES TO BUY PROPERTY
 
In 5th place Mallorca. The much publicised Spanish property downturn has not had much of an impact on the main luxury market in the Balearics because of a balanced supply and demand situation driven by fairly tight control on new development and continued purchases by domestic and overseas buyers.
 
Nevertheless we are finding Mark Webber's recent comments shared by many:
 
MARK WEBBER The Formula 1 race driver said in an interview in the Sunday Times this week-end when asked:
 
"What's the most important lesson you have learnt about money ?
 
He replied: "Hold on to what you have. I am pretty nervous at the moment and am keeping hold of all I earn and that is my plan for the foreseeable future"
 
The above make good sense. Buyers are cautious although recognising that the best place for your money at the moment is in "bricks and mortar". Especially in MALLORCA of course!

 

In any case, the sooner the various government leaders stop having "meetings" about "meetings" and actually start DOING something - the better.
 
Obama's $870 billion package to create jobs for 3.5 million Americans works out to a quarter of a million dollars per job - that should work if not squandered.
 
In Spain there is much squabbling between the two main political  parties over some gossip between the Minister of Justice and a leading investigative judge which has resulted in the Minister's resignation. Again - it's time the political parties stopped bickering over trivialities and put their heads together re the economy.
 
Another more famous quote to go with that: "I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

                                                   Thomas Jefferson