20 Facts About The Collapse Of Europe That Everyone Should Know

Tyler Durden's picture

Originally posted at The Coming Depression blog,

The economic implosion of Europe is accelerating. Even while the mainstream media continues to proclaim that the financial crisis in Europe has been “averted”, the economic statistics that are coming out of Europe just continue to get worse.

Manufacturing activity in Europe has been contracting month after month, the unemployment rate in the eurozone has hit yet another brand new record high, and the official unemployment rates in both Greece and Spain are now much higher than the peak unemployment rate in the United States during the Great Depression of the 1930s. The economic situation in Europe is far worse than it was a year ago, and it is going to continue to get worse as austerity continues to take a huge toll on the economies of the eurozone.

It would be hard to understate how bad things have gotten – particularly in southern Europe. The truth is that most of southern Europe is experiencing a full-blown economic depression right now. Sadly, most Americans are paying very little attention to what is going on across the Atlantic. But they should be watching, because this is what happens when nations accumulate too much debt. The United States has the biggest debt burden of all, and eventually what is happening over in Spain, France, Italy, Portugal and Greece is going to happen over here as well.

The following are 20 facts about the collapse of Europe that everyone should know...

#1 10 Months: Manufacturing activity in both France and Germany has contracted for 10 months in a row.

#2 11.8 Percent: The unemployment rate in the eurozone has now risen to 11.8 percent – a brand new all-time high.

#3 17 Months: In November, Italy experienced the sharpest decline in retail sales that it had experienced in 17 months.

#4 20 Months: Manufacturing activity in Spain has contracted for 20 months in a row.

#5 20 Percent: It is estimated that bad loans now make up approximately 20 percent of all domestic loans in the Greek banking system at this point.

#6 22 Percent: A whopping 22 percent of the entire population of Ireland lives in jobless households.

#7 26 Percent: The unemployment rate in Greece is now 26 percent. A year ago it was only 18.9 percent.

#8 26.6 Percent: The unemployment rate in Spain has risen to an astounding 26.6 percent.

#9 27.0 Percent: The unemployment rate for workers under the age of 25 in Cyprus. Back in 2008, this number was well below 10 percent.

#10 28 Percent: Sales of French-made vehicles in November were down 28 percent compared to a year earlier.

#11 36 Percent: Today, the poverty rate in Greece is 36 percent. Back in 2009 it was only about 20 percent.

#12 37.1 Percent: The unemployment rate for workers under the age of 25 in Italy – a brand new all-time high.

#13 44 Percent: An astounding 44 percent of the entire population of Bulgaria is facing “severe material deprivation”.

#14 56.5 Percent: The unemployment rate for workers under the age of 25 in Spain – a brand new all-time high.

#15 57.6 Percent: The unemployment rate for workers under the age of 25 in Greece – a brand new all-time high.

#16 60 Percent: Citigroup is projecting that there is a 60 percent probability that Greece will leave the eurozone within the next 12 to 18 months.

#17 70 Percent: It has been reported that some homes in Spain are being sold at a 70% discount from where they were at during the peak of the housing bubble back in 2006. At this point there areapproximately 2 million unsold homes in Spain.

#18 200 Percent: The debt to GDP ratio in Greece is rapidly approaching 200 percent.

#19 1997: According to the Committee of French Automobile Producers, 2012 was the worst year for the French automobile industry since 1997.

#20 2 Million: Back in 2005, the French auto industry produced about 3.5 million vehicles. In 2012, that number dropped to about 2 million vehicles.

One thing that these shocking numbers cannot convey is the tremendous amount of pain that many average Europeans are living through on a daily basis at this point. To get a peek into what life is like in Greece these days, check out this short excerpt from a recent Bloomberg article…

Anastasia Karagaitanaki, 57, is a former model and cafe owner in Thessaloniki, Greece. After losing her business to the financial crisis, she now sleeps on a daybed next to the refrigerator in her mother’s kitchen and depends on charity for food and insulin for her diabetes.

“I feel like my life has slipped through my hands,” said Karagaitanaki, whose brother also shares the one-bedroom apartment. “I feel like I’m dead.”

For thousands of Greeks like Karagaitanaki, the fabric of middle-class life is unraveling. Teachers, salaries slashed by a third, are stealing electricity. Families in once-stable neighborhoods are afraid to leave their homes because of rising street crime.

All over Europe, people that have lost all hope are actually setting themselves on fire in a desperate attempt to draw attention. Millions of formerly middle class Europeans have lost everything and are becoming increasingly desperate. Suicide and crime are skyrocketing all over southern Europe and massive street riots are erupting on a regular basis.

Unfortunately, this is just the beginning. Things are going to get even worse for Europe.

Meanwhile, those of us living in the United States smugly look down our noses at Europe because we are still living in a false bubble of debt-fueled prosperity.

But eventually we will feel the sting of austerity as well. The recent fiscal cliff deal was an indication of that. Taxes are going up and government spending is at least going to slow down. It won’t be too long before the effects of that are felt in the economy.

And of course the reality of the situation is that the U.S. economy really did not perform very well at all during 2012 when you take a look at the numbers. The cold, hard truth is that the U.S. economy has been declining for a very long time, and there are a whole bunch of reasons to expect that our decline will accelerate even further in 2013.

So if you are an American, don’t laugh at what is happening over in Europe at the moment. We are headed down the exact same path that they have gone, and we are going to experience the same kind of suffering that they are going through right now.

Use these last few “bubble months” to prepare for what is ahead. At some point this “hope bubble” will disappear and then the time for preparation will be over.

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Hedgerow-'s picture

Sometimes I think that maybe I should be feeling bad when hoping for the eventual collapse.

But humanity has driven itself into a corner, that only after a full collapse we might be able to rise up again and have some of that good ol' proper hope!

Totentänzerlied's picture

Money that's free until it isn't and energy that's cheap until it isn't - feels good until it doesn't. Whocudanode???

Michaelwiseguy's picture

Very few sheeple know anything about what is going on in Europe. How many Americans know two people in Spain set themselves on fire last week? The Zionist corporate military industrial complex mainstream media does a bad job of informing us what is really going on in the world. That's why they qualify as America's propaganda enemy #1. But The MSM never fail to tell the sheeple how many dead people there are in Syria every hour, because they want us to pay for another one of their wars.

trav777's picture

Fact 1 needed to be that multiculturalism is plunging them headlong into the collapse.

Their experience was like California's getting 10M new residents and 7M new medicaid recipients and 150k new taxpayers.

Europe destroyed itself listening to BS from zionists who practice outright apartheid.

Michaelwiseguy's picture

And Israel has their very own worlds largest open air concentration camp called Gaza. Disgusting Israelis.

mick68's picture

Have you noticed that all the bleeding heart Muslim nations don't offer the PAlestinians help or a land of their own?

 

Of course you didn't. Too busy buying into your own rhetoric.

Matt's picture

They can't. There were ~500,000 Palestinians and ~500,000 Jews in Palestine Territory in 1948. There are now around 5 million of each. During that same timeframe, the population growth for the surrounding Muslim nations climbed similarly. Libya went from 600,000 Libyans and 100,000 Italians in 1945 to 6.6 Million Libyans today. Nobody has the resources to take in anybody else.

economics9698's picture

1925, 1926, 1927, 1928, 1929

2009, 2010, 2011, 2012, 2013

Random's picture

Why would they? Not granting Palestinians citizenship is the good thing to do because otherwise the Jews can very easily dispose the "absentees" of their citizenship (and therefore property) or just forget about it altogether by claiming that they do not want to hand out property to "foreigners". Thanks for playing, bitch!

Ident 7777 economy's picture

 

Michaelwiseguy:

"And Israel has their very own worlds largest open air concentration camp called Gaza. Disgusting Israelis."

Pure idiocy.

Who alone has a democracy over there?

AnAnonymous's picture

Israel is an 'american' nation.

Who else has 'americanism' in the area? All the nations freed by the other 'americans'.

It includes Libya, Afghanistan, Iraq...

'Americans' should follow their own tune. The fact that Israel was the only 'american' nation in the area was grounded before 'americans' started their wave to free people around and move them to an 'american' organization of society.

akak's picture

Lead-tainted playthings and slow-roasted kittens
Black cooking marmites and foul public shittins'
Denial, bigotry and middle class kings
These are a few of my favorite things

Crap-covered roadsides and crisp Szechuan puppies
Truncheons and sweat shops and Chink neo-yuppies
Rare tiger penis that makes big the shwing
These are a few of my mattering things

When the dog woks
When the prole shites
When I'm feeling sad
I simply remember my favorite theme:
That every 'American' is bad.

Dead female fetuses on toxic waste mountains
Resource depletion and shit-tainted fountains
Naked hypocrisy and trolling in spring
These are a few of my blobbing-up things

Citizenism and insanitation
The criminal rape of the Tibetan nation
Circular arguments that run 'round in rings
These are a few of my favorite things

When I troll blogs
When my butt stinks
When I'm feeling mad
I simply remember my mattering thing:
That every 'American' is bad.

TheFourthStooge-ing's picture

Alas, alas, power trio alas, it's Panda Funk Railroad:

We're a Chinese citizenism band
We're a Chinese citizenism band
We stop and take a shit
On the roadside to Tibet
We're a Chinese citizenism band

jumbo maverick's picture

My favorite part about that song is they replaced the cow bell with a gong. Kick ass!

Greyhat's picture

The frenchies have invented a new shadow € central banking system behind the ECBs back, money will be free forever! :D

http://translate.google.com/translate?sl=de&tl=en&js=n&prev=_t&hl=de&ie=...

SpykerSpeed's picture

I liken it to pulling off a Band-Aid.  You can either do it slowly and suffer, or you can get it over with and jerk it off fast.  I'd rather get this economic reconfiguration over with FAST.  Because if you understand Austrian economics, you understand that depressions are just that - reconfiguration of the productive efforts of society to better suit consumer demand.  That's all.  A long, drawn-out depression is entirely unnecessary and imposed by government.

DR's picture

Sometimes depression leads to a statist state depending on who is doing the "reconfiguration".

inevitablecollapse's picture

Jerking it off fast has typically helped with my depression as well...brb

On a more serious note, we've been set up for pain, and lots of it over a protracted period of time. No way around it now.

Irelevant's picture

The us is in a much better position than Europe. The Dollar is the reserve curency of the world, the us still has acces to far more domestic energy than Europe, the us has the largest millitary in the world. This cant be ignored.

trav777's picture

if the US is going to go majority brown in 2045 or whatever, then no, our future is most certainly not particularly bright.

We will turn into a clone of mexico where stuff plain doesn't WORK like Switzerland.

It's amazing how the more people you get from there, the more here starts to look like there.  It's almost as if behaviors are biological and not the marxist "nurture" theory.  Maybe culture comes from people instead of from fairies.

lemonobrien's picture

behavior is mostly genetic; they proved this by studying adopted children;

as for intelligence:

European Jews IQ Average: 120

North Eastern Chinese/Japanese: 110

European Whites: 100

Everyone else < 100

 

shhh... don't tell this to to social science department.

otto skorzeny's picture

there are alot of people with high IQs that have less common sense than my 4 year old-and don't forget all of those Nobel Prizes handed out to "geniuses"

SpykerSpeed's picture

It's true, IQ varies by race.  But culture definitely counts for a lot.  For instance, while the Jews may be smart they sure as hell believe in some stupid fairy tales and cut their sons' dicks up.  The Scandinavians are enamored with socialism even though they're white.  The Japs and Chinese have danced with the devil of communism several times and have the body counts to show for it.  It's entirely possible to have a capitalist, free society comprised of lower-IQ people in my view.  But it will be harder to get them to that point, because it takes a lot of education and advances in technology.

Matt's picture

circumcision is shown to protect the circumcized from contracting STDs, among other benefits.

The Scandinavians can afford socialism as long as they are resource rich.

I don't see what technology is required for a free, capitalist society. 

AgAu_man's picture

I'll buy that.  But, did you know that a person's IQ can improve over time?  If you 'work it'.

But what makes a people powerful isn't the IQ or power of the one individual.  It is the same thing that makes a brain powerful:  All those brain cells cross-connected and working as a 'system'.  The Japanese get this also but don't practice it to the same extent as the Jews.  Ditto for Whites and others, but even less so.

Sorry, but the myth of the Lone Hero is just that:  A myth.  Hollywood bullsh!t for sheeple.  True, an individual can and often does make a huge difference.  But true strength is in numbers.  Well-connected numbers working as a unit.  Like a body made of billions of cells.  Else you can just send those "oh-so-clever but predictable and malleable" Joint Chiefs of Staff to fight your stupid wars of this "Latter Day Rome".

Unlike the Jews, how many Whites, Browns etc do you see who are all about themselves?  At best they are about "family".  Yeah, the immediate extension of themselves!  Selfish c0ck$ucker$!  Even on this site, there are tons of Lone Wolves -- all about themselves -- instead of building like-minded communities.  I have NO respect for such Cro-Magnon humanoids/hemorrhoids.

Work together, build a community, a tribe, a nation!  Or be conquered by those who do.  Bloody sheep.

Ident 7777 economy's picture

 

 

... watch a few dozen James Burke 'Connections' series too ...

 

Work it.

Anusocracy's picture

You are wrong.

The committee, the mob, the church, the collective, they are not the ones with the ability to think outside the box. By their very nature. they can't. Individualism is what drives progress, not the social mind. The social mind is very poor at STEM fields, but very good at manipulating, controlling, and using other people. Or, like your last point, conquering, killing, and stealing.

The social mind may be the progenitor of the technological mind, but it cannot do what the technological mind can do: advance civilization.

 

r3phl0x's picture

Unfortunately the technological minds are mostly enslaved by the social minds.

Anusocracy's picture

Precisely.

That's why we waste trillions on defense and other government rat holes.

 

CoonT's picture

"True strength is in numbers?" Yeah, until one who thought they heard another say "Retreat," starts a stampede for the exit. There goes your strength; straight out the door! The fact is: A "lone wolf" is a pack animal in every sense of the term. In response to unsustainable living conditions, a lone wolf sets out in search of a more suitable environment. While in the process, they have in fact withdrawn, in a bid for survival of the self; the objective of the lone wolf is to form or join the very "like-minded community" of which you speak. I was 100% about me. Now I am 100% about my family and name. When you prove to me that yours are as worthy as mine, then I will become 100% about yours too. Et voila! Community. 

IamtheREALmario's picture

So, you are claiming that the strength of the jews (actually Eueopean zionists) is that they work together to dominate the world and discriminate against all others working to keep them fractured and powerless. OK, I'll buy it.

frenchie's picture

lol

i bet the 120 was measured by... yids right ?!

Skyprince's picture

All of this may be true and only buys us a bit more time...time we are squandering in a quest to sustain the unsustainable. The corrupt Nanny State will fall without significant corrective actions, and these actions do not serve the interests of the financial elites and their puppet politicians.  Our energy will only prolong the "recovery illusion" a bit and our military (paid for with more debt) only fuels our hubris.  As for our reserve currency status--that is slowly crumbling as the world sees that we can't pay our bills any better than the PIIGS.  The BIG RESET is in our future...just a matter of time.

otto skorzeny's picture

why do you think the rush for the Great Gun Grab is on

Midas's picture

If the Greeks need some pocket money why don't they get Vanna to sell some vowels for them?  They sure do have enough to go around.

BlackVoid's picture

"The Dollar is the reserve curency of the world" - not much longer, the EUR and CNY are catching up fast.

"the us still has acces to far more domestic energy than Europe" - True, but they waste most of it, while Europe gets by on much less.

"the us has the largest millitary in the world." - and also the biggest debt burden and the US has to finance this largest military, which is largely ineffective. The military can win battles, but they cannot win wars. Not even against 3rd rate enemies (Iraq, Afghanistan).

The US is the collapsing empire, maybe they will not collapse first, but they will collapse. And it is not going to be pretty.

 

 

 

Never One Roach's picture

The problems facing the USA are clear. Any suggestions?

Anusocracy's picture

Unwind the whole corrupt crony faux-capitalist system.

IamtheREALmario's picture

And restore the Republic.

Unfortunately the Obamanation has us going in the other direction toward a dictatorship (progressive envision a utopian welfare state, but those have historically degraded into a dictatorship in very short order because no one works)

ball-and-chain's picture

When Europe collapses, the dollar is gonna get real strong.

Precious metal and oil will crap the bed.

Let's hope the autocrats can keep those balls up in the air.

Peace.

http://www.angrysinner.blogspot.kr/2013/01/wednesday.html

ISEEIT's picture

Congrats TD!!

Truth, like water, always finds a path!!

Just picked you up on a MSM scan (RCP).

Victorio's picture

#21 fiat currencies always fail 

Catflappo's picture

Ummm, but that doesn't contain a number.   You'll need to make it 2,000,001 or higher to keep the list looking pretty.

CuriousPasserby's picture

How about 200,000,000 guns the government will have to try to pry from our cold dead fingers?

Joe moneybags's picture

Fiat currencies do not always fail.  Typically, the currency loses value at a predictable rate, enabling commerce to continue, even though everyone knows that future value of the money will be less than present value.  Old pesos get retired in favor of new pesos, and daily life continues on, without restoring metal-backed monetary regimes.