…Like so many great empires that came before, Spain was beset by unsustainable spending, constant warfare, debilitating debt, and an inflated money supply.
By the mid 1500s, the Spanish government was spending 2/3 of its total tax revenue just to pay interest. Spain defaulted on its debt six times in the next century.
It finally came to an end on today’s date in 1643, exactly 371 years ago….
go here-> Guess which empire came to an end today?.