The bonanza of gold and silver flowing steadily into Spain from the new world, Castile Kingdom (Spain) became too rich too quickly. The wealth was too much for the institutions to deal with, and Spaniards spent the money buying manufactured goods from England and France, instead of developing their own sector. After all, why innovate when you can just get gold from the new world and buy what you need?
Igualito que ahora, que en vez de gold and silver ha sido crédito barato y sin control.
Aquí en euskaditan cerrando empresas por no poder pagar la electricidad