Spanish Mortgages Decline for the 18th Straight Month as Bad Loans Surged

``The number of home loans fell 43.6 percent from a year earlier after a 42 percent drop in September, the Madrid-based National Statistics Institute said in an e-mailed statement today. Total capital lent on all mortgages fell 40.6 percent, it said.''

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Global recession, fueled by out of control fiat currency and lenders, finally running out of steam.