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The Social Depression Within Europe's Recession

Tyler Durden's picture





 

When people become desperate or hope-less, two things tend to coalesce; 1) they become easily led by charismatic leaders (no matter how crazy the ideas would appear previously), and 2) they resort to actions deemed previously un-possible. Putting a roof over your family's head, feeding your kids (or yourself), or buying the next iPad can drive people to these acts of desperation. Greece's homelessness rate has risen 25% since 2009 (with 20,000 living on the streets of Athens) and over 30% are at risk of poverty (with Ireland close behind). Suicide rates had risen by 40% in the first half of 2010 (and Greece was still relatively low). HIV infections from injecting drug-users has surged 20-fold in two years! And while crime rates remain among the lowest in Western Europe, robberies have surged since 2005 and prison populations (per capita) are on the rise - though, thankfully not as bad as in the US (yet). With sovereign bond spreads at multi-month lows, stocks at multi-month highs, and Barroso et al. claiming victory at every opportunity, perhaps some internal (Farage-like) reflection on the social depression they have enabled is required.

 

Europe's poverty and homelessness rates are surging...

 

Suicide rates are picking up...

 

and HIV infection rates are just exploding!!

 

Europe's crime population is rising notably...

 

...but for now - Europe remains considerably less crime-ridden than the US... (odd coincidence that prison population started to soar after Nixon ended Bretton Woods)...

 

The Bank of Greece warned the nation’s social cohesion is under threat after figures in its interim report on monetary policy for 2012 forecast total output is set to contract 24 percent between 2008 and 2013. The economy will probably shrink more than 6 percent this year and as much as 4.5 percent in 2013. Unemployment may exceed 26 percent in 2013, compared with 7.6 percent in 2008, the report said. Joblessness among teenage girls reached 75 percent in the second quarter.

 

Source: Bloomberg Briefs

 


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Tue, 12/04/2012 - 12:59 | Link to Comment Almost Solvent
Almost Solvent's picture

If only more peoples would fall through the cracks of society and just die, we might start to bring this runaway train under control.

 

/sarc

Tue, 12/04/2012 - 13:04 | Link to Comment Looney
Looney's picture

All Eurozone Offices should be moved from Brussels and Frankfurt to the top of Vesuvius.

Why? First, a nice view over Naples and, second, Vesuvius is due to blow up any moment now. ;-)

Looney

Tue, 12/04/2012 - 14:09 | Link to Comment knukles
knukles's picture

That'd give a whole new meaning to the olde adage: "See Naples and take it up the ass."

 

(long pause as I wonder if I'm too cynical)

Tue, 12/04/2012 - 14:09 | Link to Comment Peter Pan
Peter Pan's picture

Once again we are seeing the disconnect between what the markets and politicians tell us on the one hand and the reality on the street on the other hand.

Sooner or later there will be an Egyptian-like response and then let's see the state use those hollow point bullets, special camps and armored vehicles they have been buying and stocking up on in the USA.

In Europe the response will be a great deal different and there will be attempts to placate the masses, although a greater set of problems will arise as Europe fractures.

This is just one possibility in a troubled world where anything goes and anything can happen.

Tue, 12/04/2012 - 15:59 | Link to Comment fockewulf190
fockewulf190's picture

Wait until after the printing presses worldwide finally grind to a halt  because the paper factories no longer accept the very same paper it sells as payment.  Thats when the zombie apocalypse will really kick it up a noch and brains will be the new hot commodity.

Tue, 12/04/2012 - 13:04 | Link to Comment knukles
knukles's picture

Well, we could add a few more pogroms, wars and ethnic cleansings in for shits and grins, too.  Mays well have fun while we're at it.

Tue, 12/04/2012 - 13:06 | Link to Comment Looney
Looney's picture

Yep, Pol Pot for president!

Tue, 12/04/2012 - 13:03 | Link to Comment Jason T
Jason T's picture

banks truly are more dangerous than standing armies.  

Tue, 12/04/2012 - 18:24 | Link to Comment squexx
squexx's picture

Especially a banking system overrun with the Satanic Tribe!

Tue, 12/04/2012 - 13:10 | Link to Comment shovelhead
shovelhead's picture

Riot Dog ain't gonna live on park pigeons forever...

He'll be looking for some red meat soon.

Tue, 12/04/2012 - 13:17 | Link to Comment pragmatic hobo
pragmatic hobo's picture

"... (odd coincidence that prison population started to soar after Nixon ended Bretton Woods)..."

I think the coincidence really had to with the beginning of "war on drugs" starting in 1971.

Tue, 12/04/2012 - 14:16 | Link to Comment forwardho
forwardho's picture

Right on Hobo, Grandad went big time long prisons in early 70's. He always said they would be filled with young inner city blacks. Saw it as the govt making money on poverty.

Tue, 12/04/2012 - 13:18 | Link to Comment Looney
Looney's picture

Joblessness among teenage girls reached 75 percent in the second quarter.

Just wondering... what's the joblessness rate among teenage girls in Saudi Arabia, which doesn't seem to have any cash-flow problems...  ;-)

Looney

Tue, 12/04/2012 - 13:22 | Link to Comment CuriousPasserby
CuriousPasserby's picture

If HIV is up at least people are getting laid, which makes the bad times more bearable.

Tue, 12/04/2012 - 15:24 | Link to Comment markar
markar's picture

um no. intravenous drug use is the primary cause in Greece. Of course, I suppose that can make the bad times more bearable as well.

Tue, 12/04/2012 - 14:17 | Link to Comment expatincentam
expatincentam's picture

"(odd coincidence that prison population started to soar after Nixon ended Bretton Woods)"  Odd coincidence that in zerohedgeland every social statistic is a nail to be pounded by a financial hammer.  Wrong!  Look at the demographics.  The "oldest" boomer at the time of Nixon's Bretton Woods decision was 25 years old.  Crimes are committed mostly by young people.  As the boomer population left puberty behind, drug consumption and crime rates increased.  The relationship is both clear and direct.  It's also an odd coincidence that the crime rate flattens(late 1990s) as the boomers age.  No, wait, it's not odd.  It's consistent with population demographics.

Tue, 12/04/2012 - 23:39 | Link to Comment chubbyjjfong
chubbyjjfong's picture

I think you can add the fact that abortion was legalised in 1973, after which abortion rates soared.  Solo mothers of low socio-economic status were of course the majority.  Their offspring more than likely would have been raised in a less than ideal surrounding and were most likely to commit crime.  In the 1990's these aborted children would have reached their early 20's and would begin to commit offenses.  Their absence is another factor why the incarciration rate changed direction.

Tue, 12/04/2012 - 14:51 | Link to Comment Floodmaster
Floodmaster's picture

France's New Car Registrations Down 19.2% Y/Y In November !!!

Europe is composed of government rentiers, soon to be government rentiers and unemployed young adults.

 https://mninews.marketnews.com/index.php/frances-new-car-registrations-d...

Tue, 12/04/2012 - 14:43 | Link to Comment q99x2
q99x2's picture

There was a Nazi on CNBC yesterday, I think his name was Nolan or Noone from France ECB, saying that Greece was showing signs of green shoots and would be returning to prosperity next year. Why don't they go after those central banksters over there? That's what gets me. Everyone knows who the crooks are but no body does anything. Guess they can't vote them out of office. Hey that's not democracy.

Tue, 12/04/2012 - 15:09 | Link to Comment Bastiat009
Bastiat009's picture

Not sure what the suicide rate tells me about the economy. It seems to me that not seeing the sun for months (Finland) is more depressing than being somewhat "officially" poor in Greece. The French are depressed because they are ... well, French.

Once again, not sure what the suicide rate tells me about the economy.

Tue, 12/04/2012 - 15:11 | Link to Comment sgt_doom
sgt_doom's picture

When people become desperate or hope-less, two things tend to coalesce; 1) they become easily led by charismatic leaders (no matter how crazy the ideas would appear previously), and 2) they resort to actions deemed previously un-possible.

You mean, like, rolling those mobile guillotines down Wall Street, Broad Street, Liberty and in front the US Supreme Court building and over at congress, then begin using them?

Tue, 12/04/2012 - 15:27 | Link to Comment Iwanttoknow
Iwanttoknow's picture

Fuck crony capitalism.

Tue, 12/04/2012 - 16:29 | Link to Comment Nobody For President
Nobody For President's picture

You can say that again.

Tue, 12/04/2012 - 15:27 | Link to Comment Iwanttoknow
Iwanttoknow's picture

Fuck crony capitalism.

Tue, 12/04/2012 - 16:30 | Link to Comment Nobody For President
Nobody For President's picture

Thanks!

Tue, 12/04/2012 - 16:47 | Link to Comment smiler03
smiler03's picture

And you Tyler, is the one who keeps saying, again and again, that nobody has truly introduced AUSTERITY.

 

Fuck you Tyler!!

http://www.zerohedge.com/news/2012-11-30/guest-post-myth-austerity

http://www.zerohedge.com/news/2012-11-23/european-austerity-update

+ lots and lots of other posts of yours where you say austerity isn't happening. You define austerity as governments cutting budgets and not as people, real people, who have a diminishing budget who are subsidising banker bailouts. You really really are a bankers mouthpiece. 

Fuck you Tyler!

Tue, 12/04/2012 - 16:26 | Link to Comment woggie
woggie's picture

the beast is on the gobble
and all that matters is we're all headed for it's belly
http://youtu.be/ntmthFyaYzY

Tue, 12/04/2012 - 16:29 | Link to Comment Peter K
Peter K's picture

When people become desperate or hope-less, two things tend to coalesce; 1) they become easily led by charismatic leaders (no matter how crazy the ideas would appear previously), and 2) they resort to actions deemed previously un-possible. Putting a roof over your family's head, feeding your kids (or yourself), or buying the next iPad can drive people to these acts of desperation

I thought this was written about the US and the age of Obama. ;)

Give it a couple of months.:)))))))

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