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Europe's Scariest Chart - Update

Tyler Durden's picture




 

Despite Draghi's insistence that 'significant' progress has been made, that the ECB's efforts have not been "killer medicine", that stocks are higher and spreads are lower (implying the ECB "has already done much that is needed"), and how optimistically-biased cherry-picked economic surveys are positive despite weak economic projections; the fact of the matter is that youth unemployment is only getting worse - much worse. Euro-zone youth unemployment is at a record 23.9% but Spain and Italy saw the biggest jumps (to 55.9% and 36.5% respectively). Greece remains the worst at over 56% based on last data, while Germany rests at 8.1%.

 

 

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Thu, 12/06/2012 - 13:13 | 3039599 Arthor Bearing
Arthor Bearing's picture

You can skip everything NNT ever wrote about the bad effects of artificially-imposed stability and just look at Spain's line on that chart.

Thu, 12/06/2012 - 13:15 | 3039606 SelfGov
SelfGov's picture

Spain will be saved.

And Romney was smart...

Thu, 12/06/2012 - 13:21 | 3039624 Richard Chesler
Richard Chesler's picture

Socialists need no stinking jobs.

FOWARD!

 

Thu, 12/06/2012 - 22:44 | 3041477 Muppet of the U...
Muppet of the Universe's picture

Germany got its revenge

Thu, 12/06/2012 - 13:22 | 3039628 francis_sawyer
francis_sawyer's picture

I'm not sure what's scarier... Those charts or Messi's knee bruise...

Thu, 12/06/2012 - 13:15 | 3039602 1835jackson
1835jackson's picture

what a fucking disaster luke skywalker what after

Thu, 12/06/2012 - 13:15 | 3039604 Desert Irish
Desert Irish's picture

An army looking for a general?

Thu, 12/06/2012 - 13:23 | 3039632 1835jackson
1835jackson's picture

An army looking for an obama phone?

Thu, 12/06/2012 - 13:34 | 3039662 CPL
CPL's picture

80 million strong arms, backs and minds bored out of their minds.  I can name a couple of poltical parties getting their attention.

 

Parti Socialiste National du France

Neo-Nazi Party of Germany

http://www.ibtimes.co.uk/articles/399725/20121030/germany-offers-800-000...  (Government is funding them)

Greek Golden Dawn

Italian Nazi Party

Dutch Nazi Party

British National Socialist Party

Danish National Socialist Party

Russian Nazi Party

etc

Thu, 12/06/2012 - 13:16 | 3039608 ak_khanna
ak_khanna's picture

All the efforts of politicians, government, central banks etc are focused on saving banks instead of targeting job creation which is the only way economy can recover. 
Jobs can be created by initiating the following :

Replace the top management of the too big to fail banks, put the existing ones in prison and charge them with fraud and misrepresentation. Break the banks into smaller ones so that they are no longer a risk to the whole financial system. Implement the Glass Stegall Act.

Use the reclaimed billions of dollars from the arrested bankers and use them to improve the infrastructure of the country. This would create jobs instantly and the improved infrastructure would give the confidence to the small businessman to hire more people.

Tax the richest 5% of the population heavily as they no longer create jobs in the country but outsource the jobs to the low cost developing nations. Stop completely the funding of election candidates by corporates and rich individuals so that their influence on politicians to make rules beneficial to themselves is clipped.

Stopping speculation and derivatives in commodity markets would reduce their prices substantially which would be beneficial to the majority of the population. This would lead to a better standard of living for the middle class families and they would go out and spend helping the revival of the economy.

But in the real world we can keep on dreaming.

http://www.marketoracle.co.uk/Article35345.html
www.letstalkmoney2012.in

Thu, 12/06/2012 - 13:30 | 3039653 adr
adr's picture

I think someone somewhere came up with the solution but people didn't like it very much once the news of it got out and we had a war or something. Then we gave those people some stuff to make up for it, and then they took everything over again leading us back to people wanting to go back to the first solution again.

Thu, 12/06/2012 - 14:07 | 3039737 cxl9
cxl9's picture

Maybe the "politicians, government, central banks" shouldn't focus on anything, but instead just get out of the way and let people get on with what they will do naturally: engage in productive enterprises and mutually beneficial trade. Government interference is a problem, not a solution.

Thu, 12/06/2012 - 13:16 | 3039609 steveo77
steveo77's picture

I am not affiliated with these guys except as a customer. 
 
This is a great deal for a first time buyer/customer, you are basically getting gold and silver coinage at melt value, plus shipping. 
 
It is a small package, but for those afraid to jump into PM's, this is a simply low risk way. 
 
The current spot melt on this package is $389, and you can have it shipped to you for $405.69 total. 
 
Check it out, you can even use a credit card. The evil bankster industry charges most companies around 2% to 3% to "allow" the use of their credit card, what a scam. They don't charge extra for using a credit card on this purchase. 
 
http://oahutrading.blogspot.com/2012/12/buy-pm-at-employee- pricing.html

Thu, 12/06/2012 - 13:29 | 3039651 Arthor Bearing
Arthor Bearing's picture

What's the yield between the spot price they are charging and the spot price of tungsten? That seems relevant. 

Thu, 12/06/2012 - 15:06 | 3040015 CPL
CPL's picture

You can smell the bot on the comment.

Thu, 12/06/2012 - 13:16 | 3039610 DaveyJones
DaveyJones's picture

so do I have this right, the higher the score, the worse you're doing?

Thu, 12/06/2012 - 13:32 | 3039656 ptoemmes
ptoemmes's picture

Kind of like golf - including the soon-to-be all to present clubs.

 

FORE-ward.

Thu, 12/06/2012 - 13:36 | 3039664 Sunshine n Lollipops
Sunshine n Lollipops's picture

Nah, you're thinking of golf, DJ. Big numbers here are great. SuperMario has the scorecard, and he says everything's fucking peachy. Oooohhh, another triple-bogey for Spain and Greece just drove their cart into a water hazard. (Golf clap)

FORE!

Thu, 12/06/2012 - 13:57 | 3039709 DaveyJones
DaveyJones's picture

so too much green is bad and being in the hole is good? Crap, I'm still confused

Thu, 12/06/2012 - 14:07 | 3039733 Sunshine n Lollipops
Sunshine n Lollipops's picture

Now yer gettin it!

Thu, 12/06/2012 - 13:37 | 3039612 tahoebumsmith
tahoebumsmith's picture

They can't keep the lid on much longer... KABOOM  The chaos in the streets will spread globally and politicians, bankers and corporate heads will be flocking to their bunkers in droves...

Thu, 12/06/2012 - 13:38 | 3039666 drbill
drbill's picture

We can only hope... about the heads of banksters and their bought and paid for politicians that is.

Thu, 12/06/2012 - 13:18 | 3039617 Bam_Man
Bam_Man's picture

Yeah, this is sustainable....

Thu, 12/06/2012 - 13:23 | 3039629 Joe moneybags
Joe moneybags's picture

The charts of the European stock markets are far less scary.  Keeping yout's off of the payrolls keeps the productivity and profits up.  Somehow, they are even keeping the yout protesters off of the streets.

Thu, 12/06/2012 - 13:22 | 3039630 hugovanderbubble
hugovanderbubble's picture

Thanks Tyler for sharing it to ZH members,

 

Situation in Spain is chaotic, impossible to repay anything, no new business cos we  dont have Working Capital , Small and Mid Entities are most of them closing.

 

 

Thu, 12/06/2012 - 13:31 | 3039631 hugovanderbubble
hugovanderbubble's picture

and dont forget:

 

LATVIA Youth Unemployement> 38% ------------------------> Swedish Banks trapped in Real Estate Mortgages.....but who cares in Skandinavia....they have "THE MAGIC PRINTER TO DEVALUATE TILL INFINITUM"

Romania

Bulgary

Ukraine

Moldova

 

= COLLAPSED

 

 

Thu, 12/06/2012 - 13:24 | 3039635 adr
adr's picture

The world is forgetting how to produce anything of value. It has already forgotten how to do business. I just got back from a trade show and I want to blow my brains out. It was like a scene from In Good Company. Check it, cross license opportunity. My company will buy your product and your company will buy advertisements from my company, pure profit man.

I see a group of people standing at a fence looking at a field holding seeds, all asking each other if they know what to do with them.

Thu, 12/06/2012 - 13:26 | 3039639 BraveSirRobin
BraveSirRobin's picture

It can only go to 100%. It will not get any worse than that.

Thu, 12/06/2012 - 13:28 | 3039650 realtick
realtick's picture

The Euro currency chart is fucked up, too

Thu, 12/06/2012 - 13:32 | 3039655 UndergroundPost
UndergroundPost's picture

The real story: GREECE HAS AN EFFECTIVE UNEMPLOYMENT RATE OF 64.8%! Not the young, sun-kissed youth population, but among the FULL FORCE of WORK-ABLE ADULTS

Here are the numbers:

Unemployed (those not working who are trying to find work): 1.3M

Inactive Unemployed (as defined by the most trusted Helenic Statistical Authority: "persons that neither worked, neither looked for a job"): 3.4M

Total number of REAL UNEMPLOYED in Socrates homeland: ~4.7M

Total number of Greeks employed (this includes GOVERNMENT WORKERS which of course means secretaries working for secretaries who type meaningless memos for bureaucrats who write reports on why Greece needs more German money): 3.7M

Total Labor Force: 5.3M (Another farce number - see below)

Total Population of Greece: 11.2M

Total Adult Population (15-65, i.e. WORKING AGE): 7.2M

So the BuLS*T (Bureau of Labor Stats) of Greece is saying that there are nearly 2 million of its citizens (Total Adult Population - Total Labor Force) that for some reason shouldn't be included in the Labor Force. So we don't seem totally heartless, let's acknowledge that there are some physically, mentally and politically challenged adults that CAN'T work. The UN estimates that around 10% of the world's population is disabled and slightly higher in 3rd world countries. Its probably less in Greece (unless you consider someone who is over-tanned to be disabled) but let's say 10% of Greeks really can't work. That's about 720K of working age adults that really need charity. That leaves - again generously - 7.1M total work-able adults. And for those EU bureaucrats who are insisting on robbing the rest of Europe's producers for the non-producers, we'll even deduct that full 720K from the Inactive Employed number. The results: 3.3M INACTIVE + 1.3M UNEMPLOYED = 4.6M NOT WORKING.

Here's why Zeus is curled up in a corner sucking his thumb: 4.6M non-working but able adult Greeks / 7.1M total work-ready adults = 64.8% REAL UNEMPLOYMENT.

Socratic wisdom for Prime Minister Antonis Samaras: Hemlock exists for a reason.

Thu, 12/06/2012 - 13:34 | 3039661 ptoemmes
ptoemmes's picture

Is this seasonally adjusted?

 

/sarc off

Thu, 12/06/2012 - 13:33 | 3039658 pragmatic hobo
pragmatic hobo's picture

I think Draghi is correct to assert significant progress is being made ... to further demonize socialism, punish the labour in greece, spain, italy, and so on. The US-fication of EU certainly looks to be on course just as China-fication of US is nearing completion.

Thu, 12/06/2012 - 13:34 | 3039660 inevitablecollapse
inevitablecollapse's picture

everyone knows that the real production in any society comes from the 25-110 crowd :)

Thu, 12/06/2012 - 13:38 | 3039668 Rustysilver
Rustysilver's picture

BraveSirRobin,

I think that you may be wrong. Greece will be at 120%. They are good with numbers.

Thu, 12/06/2012 - 13:39 | 3039669 No Euros please...
No Euros please we're British's picture

Meh, just send them all to college and give them a student loan, the big bazooka can handle it later.

Thu, 12/06/2012 - 13:39 | 3039671 oldman
oldman's picture

Like many, I suppose, I am still here watching the trolls have their way with reality even though they are only taking to each other.

My name is oldman; and, I a not a terrorist         om

Thu, 12/06/2012 - 16:35 | 3039672 oldman
oldman's picture

Like many, I suppose, I am still here watching the trolls have their way with reality even though they are only talking to each other.

My name is oldman; and, I am not a terrorist         om

Thu, 12/06/2012 - 13:39 | 3039673 Bam_Man
Bam_Man's picture

Can they blame this on Sandy?

Thu, 12/06/2012 - 13:43 | 3039682 UndergroundPost
UndergroundPost's picture

**CORRECTED NUMBERS**

The real story: GREECE HAS AN EFFECTIVE UNEMPLOYMENT RATE OF 61%! Not the young, sun-kissed youth population, but among the FULL FORCE of WORK-ABLE ADULTS

Here are the numbers:
Unemployed (those not working who are trying to find work): 1.3M

Inactive Unemployed (as defined by the most trusted Helenic Statistical Authority: "persons that neither worked, neither looked for a job"): 3.4M

Total number of REAL UNEMPLOYED in Socrates homeland: ~4.7M

Total number of Greeks employed (this includes GOVERNMENT WORKERS which of course means secretaries working for secretaries who type meaningless memos for bureaucrats who write reports on why Greece needs more German money): 3.7M

Total Labor Force: 5.3M (Another farce number - see below)

Total Population of Greece: 11.2M

Total Adult Population (15-65, i.e. WORKING AGE): 7.2M

So the BuLS*T (Bureau of Labor Stats) of Greece is saying that there are nearly 2 million of its citizens (Total Adult Population - Total Labor Force) that for some reason shouldn't be included in the Labor Force. So we don't seem totally heartless, let's acknowledge that there are some physically, mentally and politically challenged adults that CAN'T work. The UN estimates that around 10% of the world's population is disabled and slightly higher in 3rd world countries. Its probably less in Greece (unless you consider someone who is over-tanned to be disabled) but let's say 10% of Greeks really can't work. That's about 720K of working age adults that really need charity. That leaves - again generously - 6.4M total work-able adults. And for those EU bureaucrats who are insisting on robbing the rest of Europe's producers for the non-producers, we'll even deduct that full 720K from the Inactive Employed number. The results: 2.6M INACTIVE + 1.3M UNEMPLOYED =3.9M NOT WORKING.

Here's why Zeus is curled up in a corner sucking his thumb: 3.9M non-working but able adult Greeks / 6.4M total work-ready adults = 60.9% REAL UNEMPLOYMENT.

Socratic wisdom for Prime Minister Antonis Samaras: Hemlock exists for a reason.

Thu, 12/06/2012 - 14:08 | 3039753 forwardho
forwardho's picture

Underground, thanks for putting together the actual numbers of human beings who are currently unproductive. Behind all of these esoteric "%" are millions of people. For these folks, the collapse is well under way. We are existing on inertia alone, the fudamentals behind the market were fundamentally left behind in "08.

We exist in a fantasy.

When enough become hungry, and stay that way, reality will intrude.

Fri, 12/07/2012 - 05:01 | 3041913 Loukanika the r...
Loukanika the riot dog's picture

If I may suggest even these figures could be adjusted. The BLS here in Greece records all people in work. Included in these figures is a significant proportion of foreign workers who aren't inluded in the total population figures (only Greeks are accounted here). So a conservative estimate could put your figures back up to nearer 65% of natural (productive able) Greeks being non-productive (out of work)

Thu, 12/06/2012 - 13:51 | 3039694 adr
adr's picture

I keep wanting to believe real commerce can survive, but every day I am bombarded by evidence that it can't.

99% of retail commerce in the USA is dictated by publicly traded channel stuffed bullshit inventory produced for pennies on the dollar in some 3rd world country, for the explicit purpose of manipulating sales data to boost stock prices so directors can grant themselves stock options taxed at the minimal capital gains rate.

If you produce a product with no intention of attempting to court investors for an eventual IPO, you have a near zero chance of geting major retail placement for your product. If you try to go direct to consumer, you have no chance of success without partnering with one of the big outlets, because they already own all of the media buys. Then you must produce your product to sell at a pre-determined price point and give them 90% margin. In the end you'll be lucky to pull in $.10 per item sold at a $19.99 consumer price.

If you are lucky enough to be chosen as the next scam, the handlers will allow you to perhaps make a few million to allow them to facilitate the transfer of billions into their pockets. Knowing that if you even try to go for more or attempt to make a businss decision, they can make your cash disappear in the blink of an eye. You are not a business, you are a facilitator of fraud.

Commerce has been eliminated, replaced by a system to funnel cash directly to a select group of hands. It is insanity to try and conduct real honest business. I can't believe I don't have a head of gray hair at 36. I wish I could think different but I trust my eyes.

Thu, 12/06/2012 - 14:01 | 3039716 kevinearick
kevinearick's picture

:)

Thu, 12/06/2012 - 13:57 | 3039708 kevinearick
kevinearick's picture

Monetary Expansion & Economic Growth

It didn't take long for San Francisco to bleed the Japanese banks dry did it?

Capital feeds on RE inflation, compression, which is relatively incremental to labor; labor feeds on RE deflation, decompression, which is relatively quantum. By controlling the price of labor to ensure RE price inflation, the Bank builds a wall of leverage, which the public, private, and non-profit partnership must constantly climb, in a positive feedback loop with Bank credit. To the extent you feed its growth with technology, your tertiary developments, you carve the pipe, height and slope, which you will then traverse with your secondary and primary developments, for the benefit of your children and grandchildren.

Your job is to position yourself in time and place, when (timing, timing, timing). For example, I was the youngest crane operator for the largest bridge builder in America, by some 20+ years of age. The kids that followed me already had a bridge. In the current instance, at the end of an empire, all of the gates are going to open relatively simultaneously, because labor reversed polarity globally, and both capital and the middle class are on their own, trying to continue scaling the wall, which is now a cliff. We stopped providing the corporation with oxygen, deferring all income. When you want to be depends upon your unique circumstances.

The 'only' difference between an architect and other laborers is that an architect is carving while shooting the pipeline, and the pivots left behind become economic incubators for economic growth. Because corporations cannot think, your development acts like a dye, as it is copied and distributed across the corporate system, which you employ as a feedback mechanism.

Pay attention to everything, as necessary to see the overall algorithm, and tell the corporate robots nothing, except what you want them to know. It's better for you and it's better for them. Pay no mind to the jealous middle age types acting as a filter to your progress. So long as you move quickly, they will never catch up. They sold their soul and expect you to do the same, their idea of equal rights. Ultimately, they want theirs and yours too, by program. You can't take critters personally and expect to be successful, although it doesn't hurt to let them think they won the battle.

The bankers, the prison guards and warden, are caught in the casino, along with everyone else that thinks money is the bridge to the future. Don't be fooled by the dress and make-up. You are the bridge. As you move beyond the web, the web grows, and, as you can clearly see, the corporation is starving for lack of economic growth. If you came down here, which I do not suggest, you would see that I am not under pressure. San Francisco, and the entire empire, which cast its lot on this prototype, is, which is why the Fed is allowing California to print money on the expectation of expansion, and losing bigger each day.

I can walk out of here at the time of my choosing. San Francisco, and nonperforming legacy capital in general, cannot. So, you get on GA and become an economic slave for the city, which thinks it is making a profit on every part of the intermediary transactions, and you get a shelter bed, to feed the system, while the operators drive Mercedes and live in nice homes overlooking the bay. Crack me up.

Have you noticed all the empty hotel rooms?

The girls had this game when I was a kid. It had transparent clothing that could be overlayed to dress up the models. That is exactly how a city operates. When you walk in, you want to identify each layer and its focal point. For example, where 6th, Taylor, and Golden Gate meet, the entrance to the Tenderloin, is a focal point, the edge of an event horizon, and each event horizon operates on a set of easily identifiable false assumptions. When it rains during the week, you see the homeless that will not play the game lying on the streets. On a sunny weekend, you see the tourists, along with the homeless if you look. I have been doin' this sh- since I was 9 years old. If you can solve problems, money is irrelevant. Just surf the current.

Thu, 12/06/2012 - 14:07 | 3039734 XitSam
XitSam's picture

How can I go long on unemployment?

Thu, 12/06/2012 - 14:15 | 3039767 hugovanderbubble
hugovanderbubble's picture

XitSam

 

Easy sir.

 

More unemployment --------------------> less long term growth so , Long BONDS....(Price will go up)....Yield will go to lower levels.

(Example Germany)....will be affected of the Peripherical collapse -------------Bonds can have a rally to 0.75-0.85% which means 156-160 points.

 

On the other hand each country that will be directly affected of this unemployment increase (their mid-long term bonds) will drop like a sudden ,yield will rocket

(example : Spain,Italy...and watch out..FRANCE----SO u can Buy for example FRENCH CDS 5yrs, o SHORT italian Bonds, or one more Aggresive call : SHORT AUSTRIAN; FINNISH BONDS)

 

Regards,

 

 

Thu, 12/06/2012 - 14:14 | 3039772 orangegeek
orangegeek's picture

The Euro tanked today.  Guess the markets are slowly figuring it out.

 

US Dollar on the other hand is taking off today.

 

http://bullandbearmash.com/chart/dollar-rises-today-bottom-place/

Thu, 12/06/2012 - 14:28 | 3039844 THE DORK OF CORK
THE DORK OF CORK's picture

 The Irish question ?

 

Mario Draghi today……..

 

“other then that there is plenty of good will”

Thu, 12/06/2012 - 18:23 | 3040739 venturen
venturen's picture

Doesn't Bernanke have a Euro printing press?

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