Road to collapse: Spain's debt increases by 164m every day'.

The reality is that Spain is living on debt with credit from others.

Portugal's risk premium has fallen more than Spain's in the face of a huge policing crisis in the neighboring country, demonstrating that risk indicators are being hidden by a monetary policy that is being sold to us as tight but is actually very loose.

Without the massive support of Europe and the ECB, Spain would be in bankruptcy today. The government, instead of addressing imbalances, is busy embellishing data and agreeing even more spending with its partners.

The Juan de Mariana Institute has published a devastating report on Spain's wild accumulation of public debt.

It's called "debt day," that is, the day,'''free, you have a problem with reality.

Default means recognizing the lack of creditworthiness of the least risky borrower, the government, and is leading to giant layoffs and competition for many companies and families. Local corporations are the only ones with a small surplus, according to the report.

Regionally, the worst result is in La Rioja, where "debt day" comes on November 17. Catalonia reaches that date on December 12, while Madrid reaches it on December 16. The best result is in Galicia, which exhausts its revenues on December 28.

The public debt in Spain is growing at a rate of 164.8 million euros a day.

And the worst part is that beggarly public accounts are affecting the social security system. Spain's social''Social Security has the largest cash deficit in the entire European Union, and the debt of the public pension system tripled during the Sanchez years. Since October 10, all Social Security payments have been made by increasing the debt. Unsustainable. Paying pensions solely from the system's revenues would mean a reduction in monthly pension payments to Spanish pensioners by almost 60 euros.

When the government says it is raising pensions, it is actually owing pensioners' children and grandchildren. The situation is extremely worrying because political power continues to increase imbalances by tacking on the faux pas of "nothing happened". Public debt exceeds a record two trillion euros (cumulative''liabilities of public authorities, Bank of Spain), a record 1.56 trillion in calculated excess deficit, and it is only masked by the effect of inflation on the debt-to-GDP ratio. Spain continues to move into the future with a decade of deficits and stagnant debt (2008-2028).

Many will tell you this happens to everyone, and the United States is also getting into debt. The U.S. is increasing its national debt by one dollar for every dollar of economic growth. As of 2019, Spain is generating six euros of debt for every euro of GDP.