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Schaeuble Warns Of "Revolution" If Welfare Model Threatened
Over the weekend, when discussing the latest casualty of Bernanke's disastrous monetary policy, the US corporate pension plan, we touched on a topic that has been a recurring theme on these pages: "the start of the unwind of the welfare myth, if only in the private sector for now, made worse by Ben Bernanke's endless tinkering in what was formerly a free market, should be making the guardians of the status quo very, very nervous... and certainly has the disciples of the Bismarckian welfare state delusion on their toes, because they can see very well what is coming down the road." Moments ago none other than Germany's finance minister, Schrodinger Schaeuble, explained just why this observation is at the core of all modern problem, going so far as using the R-word in the context of Europe (first, and then everywhere else).
From Reuters:
German Finance Minister Wolfgang Schaeuble warned on Tuesday that failure to win the battle against youth unemployment could tear Europe apart, while abandoning the continent's welfare model in favour of tougher U.S. standards would cause "revolution".
Germany, along with France and Italy, backed urgent action to rescue a generation of young Europeans who fear they will not find jobs, with youth unemployment in the EU standing at nearly one in four, more than twice the adult rate.
"We need to be more successful in our fight against youth unemployment, otherwise we will lose the battle for Europe's unity," Schaeuble said.
While Germany insists on the importance of budget consolidation, Schaeuble spoke of the need to preserve Europe's welfare model.
If U.S. welfare standards were introduced in Europe, "we would have revolution, not tomorrow, but on the very same day," Schaeuble told a conference in Paris.
"We have to rescue an entire generation of young people who are scared. We have the best-educated generation and we are putting them on hold. This is not acceptable," Italian Labour minister Enrico Giovannini said.
...
"Let's be honest, there is no quick fix, there is no grand plan," said Werner Hoyer, head the European Investment Bank.
This explains why our long-running series of charts of youth unemployment has been labeled "Europe's scariest chart."
What is amusing, however, is that for Schauble it is not just abandoning the welfare state model that would promptly incite glimpses of the new coming of the French revolution: all that is needed is the adoption of "tougher US standards." Tougher?
Then perhaps a better question is how US society has been so remarkably reslient in the fact of a "recovery" that has led to job gains exclusively for the older set, those 55 and older, while the number of young workers (54 and under) employed is still down some 3 million since the arrival of Obama?
Jobs: young vs old:
And more granular, broken down by age group.
Oh well, just add more QE (because 4 years of the same one and only remaining flawed prescription to a gangrenous underlying problem are obviously not enough) and let it simmer. Eventually, it will be different.
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"the same one and only remaining flawed prescription to a gangrenous underlying problem"
This is the ultimate definition of the bernank
Herr Schäuble had better beware the reincarnation of Richard Widmark.
http://www.youtube.com/watch?v=3oesSyvh76g
Revolution? We only wished...
Indeed. Funny how those in power (no matter what political flavor) want to stay in power. Bunch of slime balls.
Central banks can't create jobs. The only thing they can do is delay bank insolvencies and tinker with equity prices. That's it. And that's where their hope ends, because equity prices do NOTHING to put food on the table for the average person struggling to get through each month.
Bernanke and Greenspan, with their supposition as stated many times that "equity prices are not only highly correlated with, but can be directly attributed to, economic recovery" is why we are seeing a central bank stock market. There is no free market because a central bank equity juicing is not fundamental recovery and job creation. It is illusion creation.
In addition, if Bernocchio thought that his policies were so bullet proof and will provide long term solutions, then why is he retiring? Greenspan stayed on well into his 70's. Bernocchio is jumping ship, well aware of what lies ahead.
Trickle Down< Glitchez!
the average american worker bought the 'trickle down" theory hook line and sinker while their wages stagnated for the last thirty years, yeah they got trickle down alright, they just didn't recognize the color or the smell. The bankers last gasp to hide the fact the average american worker was not making a decent living anymore was to flood them with cheap credit but oops they couldn't even make those payments. WHY, hollowed out industrial core with an entire economy based on a consumer buying cheap chinese shit or a refi-d home based on never ending increasing valuation which really means NOBODY makes anything useful anymore, unless it's a CDS, MBS, CDO, MOMO, POMO, YOYO.
y.o.u.a.r.e.f.u.c.k.e.d.
ben youcantspankme knows this genie ain't going back into the bottle and what does the average american get to look forward to.
>police state drone surveillance
>private defence contractors operating outside the law
>GMO food, whatever the fuck that is
>water ??
>energy??
>jobs??
There was a very lucid idea, straight to the point. American wages stagnated since 1970... But... Standards of living were maintained or increased... How? Yes, Johnny in the back. "Flood them with cheap credit?"
Thats right, Johnny! Very good!
quote: "Then perhaps a better question is how US society has been so remarkably reslient in the fact of a "recovery" that has led to job gains exclusively for the older set, those 55 and older, while the number of young workers (54 and under) employed is still down some 3 million since the arrival of Obama?"
It's because the US has igadgets, xbox, free internet, porn, comfort food, eroding educational standards, and the most dominant military on the planet.
All this and watching state after state legalize pot, and smiling as the gov't racks up more debt for future obligations.
Dark_Horse
"We have the best-educated generation and we are putting them on hold."
enroll them in graduate school, duh.
preferably online.
the unemployed population can *always* be even more educated, and at ever-decreasing cost
Incentives given to young Europeans are : register as unemployed for benefits and pray you don`t have to
accept a job . Jobs as in temp agency rip offs, partial,
on demand etc. with more often then not still on benefits paying the difference to a minimum living wage.
Not trying to achieve or own anything, all their mates
are losers stuck with no hope and means tested benefits
would make them loose benefits if they where to own as much
as grandma`s silver cutlet.
The eager, the educated and even solid folks in the trades
are still on and off benefits in a fractious labor market, and can not and will not OWN or inherit anything. Slaves
in the best sense of the word because nobody needs them nor
cares and the inter generational transfers are about to be
cut with bail-in`s.
Indeed, funny how those in power want the power, but not the responsibility. We need people who want the responsibility, but not the power ... unfortunately nobody listens to people who are not self-serving power-mad psychopaths.
How am I to compete with a guy who tells people EVERYTHING they WANT to hear?
Indeed. Funny how those in power (no matter what political flavor) want to stay in power. Bunch of slime balls.
LOL, you expect ANYONE to give up the good life they've stolen? It's good to be the King!
http://www.youtube.com/watch?v=StJS51d1Fzg
BWAHAHHAHAHAHAA!
Revolution? Revoution requires WORK!
Camden, NJ
it's a town coming to you, very soon
Translation of "Schlaube speak" using the BS/PC filter:
"If we stop bribing our European people with money for nothing, they'll kick us from power... maybe worse !
So, no matter what, we HAVE TO KEEP THE MOOLAH GOING !"
Today's generation thinks revolution is using an extra large Sharpee for their protest signs. They're the "someone oughta do something about this" strain of assholes.
They have been lied to their entire life.
Why do you think Gandhi is held up as an example for the youth? They want polite protests, and right now the youth still are under the impression that will work. Youth doesn't last forever!
Hold a sign up?!!! Are you crazy? You can get shot point blank in the face with a tear gas canister, maced, beat up and put on the no fly list. Passive economic resistance is better. Stop consuming.
It may be a while before it arrives, but it will surely arrive when the decreasing productive class say "fuck off" to the politicians and the parasite classes .... but at that point things may get just a bit heated .... and a few ropes are placed around the politicians neck, and they are led to a hole in the floor.
You are right. Just today wondered why did economy recover in the 1930's? Schumpeterian creative destruction or just war economy?
Should we let old structure go for something better to come, or try to preserve the old at any cost?
Wait, is he talking about welfare to the banks?
Human nature is prevailing over philanthropic well-wishing, as we all knew it would. First in Europe and then soon here -- Why get a job when the government pays you to not work?
Checkmate.
..... particularily when it interrupts your daily drinking, socializing with fellow "lazy Komrades", and the poker game and fishing ..... what's a "parasite" to do?
How is Greece doing these days? And Cyprus for that matter? Enjoying their welfare states?
Revolution for all practical purposes would be a good thing and just what we need right now!
And this comming from a young person who does have a (good) job.
Everything will go as planned.
we dont need no stinking youth...when we have technology...
Too late...
before the welfare model and the markets & currency collapse, they should take away the public's guns.
5 people and counting are /sarc challenged.
.
Nobody's junker here, but sarcasm involves saying something you don't mean. Is it a good idea to trust people who say things they don't mean?
A good ole fashioned European War would reduce these numbers quite effectively
Syrian rebels could use some help.
The E.U. should declare war on itself.
Shoot half the youth and steal half of the wealth of the old.
Alternatively, a Logan's Run scenario also works.
Both much less messy than a revolution.
"We have the best-educated generation and we are putting them on hold."
For educated: read indoctrinated
If they were the best educated, there would already be a revolution. QED.
RE
srsly
This new generation (18-35) is a fascist and neoliberal's DREAM.
We take jobs for more work and less pay and benefits, yet still tweet and facebook and walk around with smiles every single day.
We have no savings, indebted for trillions (without recourse for default), and have had our civil liberties erode faster than me with a hard-on while seeing Margaret Thatcher's dead body in a thong.....yet no riots, no pressure put on the very government that helped create the mess (along with the corporations that bankroll them), and thousands of Occupy protestors arrested......while Jon Corzine sits on a yacht in France munching on my future.
And they STILL CAN'T EMPLOY US BECAUSE THEY WANT MORE.
It really goes to show that for all of the "conspiracy" talk that involves our "elites" from atlernative media outlets - it really in the end is all explained by simple stupidity.
At least pointed malice involves the basic cunning of standard intelligence.
I heard a statistic on the radio this morning: 75% of the citizens polled had never heard of ANY of the current Obama scandals... whether it was AP/Fox-gate, or IRS-gate, or Benghazi-gate. HADN'T HEARD OF ONE! That's all you need to know about the state of our nation.
That in itself wouldn't be a problem, *if* they neither knew who obama is, nor would they use FDR notes in their daily lives.
Imagine when the next President isn't as likeable as Obama.
Then the TRUE colors of the police state come out. Think it's bad now? Shit ain't nuthin.
Madcows;
First, they are not all citizens. Those polled, are likely too stupid to know shit about any of those scandals.
In the town of Progressive (Communist) Chicago, even the Progressive assholes on TeeVee obviscate all truths .... to the point it's still being blamed on George, and everyone else that isn't a communist.
Just look at what they teach in the public school system .....
That is sad...USA used to be the role model.
Despite all complaining by US writers here, US is still far above most European countries.
The only countries in Europe that still work are Germany and Switzerland. All tje rest have succumbed to socialist crap.
I really hope wide spread rebellion, it is the only hope.
Hell, 75% of the public could not name the vp I'd bet...........
I'm at the tail end of the new generation you speak of. Sadly, it's true. But there's more to it than just the state. Remember we have been indoctrinated with many layers of statism. Those of us who have broken free are few and far between becuase we have three generations ahead of us who know nothing more than WW2/GI Bill/FDR saved the free world, to Hippy "Enlightenment" and the festering pseudoliberalism that followed, and of course our own school indoctrination which made it clear to all of us that we are all beautiful little buttercups with our own special skills and needs.
This thing fixes itself when it all falls apart.
The issue I see is that the high education attainment people are loaded with debt and, if working, are working in the service industry. Most of the males do not make enough money to support, or even substantively help support, a family. Reproduction really isn't even considered for these people. The reproduction is largely happening at the lowest rung/welfare supported, and we are just now starting to see the effects of this (will increase substantially) with the flash mobs and other social fabric problems.
"Jon Corzine sits on a yacht in France"
Sounds like a decent target to me.
Don't know the stats for US, but in Europe the youth are simply outnumbered.
Those who have nothing more to lose are outnumbered.
This single shit is making revolution impossible.
They are educated as well as indoctrinated. We have a generation of some of the finest sociologists, early hungarian historians, and basket weavers the world has ever seen. They should have no problem finding jobs </sarcasm>
10x more people are awake and aware and paying attention than 10 years ago. This hasn't really shown up in 'my' demographic, because there were the fewest awake in that age group to begin with.
But I have seen my friends and acquaintances become more political the last 6-7 years, the thing is, right now they still trust (Canadian) politicians and the media.
I guess they didn't read Sun Tzu's Art of War, 1984, and Brave New World in their adolescence!
I agree with you, there are alot more people awake today. Many of the newly awakened are on the shy side and it takes a little bit of prying to get them to open up, but they are there.
Unfortunately, the vast majority are still brain dead sheeple, and if we don't reach the "critical mass" for awakening soon, it is going to be too late.
People go cray in herds. And get their common sense back one by one.
Or we're just surrounded by idiots, humans are idiots (only some smart deviants get born because of a probability occurence), resistance is futile, get over it.
And I include myself in the idiots.
It is changing, and quickly...
Reading some of the more MSM comments section, the sheeple are really starting to dissent against their gubmint and bankster overlords...
When this baby pops, you will start seeing ZH reads per article starting to explode...
God bless the interwebz...
Please do not worry.
Don't panic!
"No grand plan" for the masses, just an escape route for "some".
there is no grand plan
oh no
of course.
I think they already went to far, and broke the trust in governments.
tipping point reached, Bologna Italy, yesterday (these are students) https://www.youtube.com/watch?feature=player_embedded&v=9-NqGO9xMYc
dangerous moment in time, as TPTB will look for the extremes in distraction.
I hope they know what they are fighting for and who they are fighting against. I suspect that they don't, but hope I'm wrong.
That was awesome. I'm not even sure it matters what they are fighting for, given the example they set for the rest of humanity.
Great footage, that's something we don't see in the news over here. I can't imagine that happening here in the USA (pushing a line of riot police back and breaking their formation up) as they would just respond in kind with gas, bean bags, and flash-bangs. Then again, here in the USA, we don't riot so nicely- when it happens, we go for maximum property damage.
As in all riot scenes I have viewed via video, I see the "reporters" always standing behind the cops with their cameras held high (and recording the faces of the people). I always think the same thing and that is "what a bunch of pussies". They should put these reporters between the rioters and the cops and maybe more truth will be reported.
Nothing but fists. Too bad.
In a sense, I root for this to happen.
C'mon, you feckless (Dem) tough guy (GOP) "politician" mother fuckers.
Gut the Social Security. Eliminate the Welfare and Unemployment Insurance.
Listen to your Protestant and Jew Banker buddies. Do It.
SEE WHAT FUCKING HAPPENS.
Ummm, chief, where do you think the bulk of the debt comes from? SS, Medicare, and defense. The bankers run that racket. They don't want a revolution, just a slow to medium speed bleed of the wealth of the middle class right through DC on its way to New York. They wouldn't think of trying to startle the sheep into realizing that if its too warm for wool, then muttons on the menu.
Dumiti Dudumen prophecied over a decade ago eventually there would be no welfare in the United States, and Sadhu Selvaraj even prohesied the US president would one day go around with a begging bowl, it draws nigh..
begging bowl???? maybe for a day if he lasts that long. retired politicians get shut up money for life
"tougher U.S. standards"
What a joke.
Who was the fucking idiot who said that history was dead?
There is some fresh history in the oven, and it will be served piping hot.
Fukuyama. I get a better insight on the world looking at my morning cereal than reading that guy.
I have every objection imagining the EBT crowd becoming a social force.
Get them on board, identify them with a particular political party, and then slowly strangle them.
By training and ideology, they are the grateful receipients of welfare-state soma. Their social impact is to keep day-time TV and MSM, stupid.
promise them jobs to be revoutionaries and they will. academia, the media, and much of government services is already onboard. Threaten mass firings of do nothing government workers and see how fast they radicalize
Ad to this group many of the people or agencies that recieve a government operating grant of one form or another, they can't survive without it. cut off the spigot and all these people will be:
1, Mostly unprepared to survive without it
2. seeking scapegoats , and pissed off, ripe for exploitation
Others not in this group to insecure for self sufficiency will ask for protection from the zombie hoards
So Schauble thought there would be no effect from the massive printing of money in the USA, Japan and well everywhere, now he is having second thoughts. What an ass of course we will see war, revolution, hunger and death Herr Schauble helped create the problem but does not want to be blamed. Not a worry Herr Schauble you will probably escape from your actions its your family who will fill the camps.
“Peoples do not judge in the same way as courts of law; they do not hand down sentences, they throw thunderbolts; they do not condemn kings, they drop them back into the void; and this justice is worth just as much as that of the courts.”
- Maximilien de Robespierre
People in the US might surprise everyone. Our welfare state started in 1965, and there are people who remember the time when volunteer organizations furnished help for the poor and mentally incapacitated. When the dollar collapses, people over America will regain their freedom from big government. It will be at the local levels, just as it was in China, as described in "How China Became Capitalist".....The culture of independent spirit is not dead; it just awaits the end of big government's control to flourish again.
Amen brother...
America is very regional. The P. Northwest, the Midwest, Texas, the South would all likely respond like that. But NY and Cali?
I really could not give one fig about NY and CA. They made their own utopia. Good luck to them trying to live in it.
Here in CA we have 2 welfare classes...the public union employee and the actual welfare recipient. Both are the definition of greedy and my belief is that they will be battling each other for the crumbs after voting for the cookies all these years.
Wake me up when they do... border control will remain an easily surmountable obstacle, in the meantime, life goes on elsewhere.
Cut them off and cauterize the wound.
That kinda jives with my adjacent statement.
I still say Europe and most of the rest of the world are "sad, defeated countries". Even if America were a sad, defeated country, we don't know it... and they do.
How fun would it be to shut off the EBT cards for 30 days? These occasional 4-6 hour shut off beta tests aren't entertaining enough.
I saw a preview for that movie. I think it's called the Purge.
There's a lot of 'suggestive programming' coming from Hollywood in the next couple months:
The Purge - suspension of law enforcement, vigilante justice
This Is The End - End times comedy. I think the film is some kind of spotfest, where 'crazy shit happens out of nowhere'. Repeatedly. Sounds familiar!
World War Z - ???
Saw commercials for all 3 in the 15 minutes of TV I watched yesterday!
The Baby Boomer generation will not stop until all is consumed.
The Silent Generation already ate everything. The Boomers are hitting retirment and finding out the till is empty. The money was spent funding their civil service, defense jobs, and school administrator jobs while buying off the 20% of America that is truly poor, on Medicaid and on SNAP cards. I figure tax remittances are headed down through Q4, since so many of us sold equities to beat the tax hike, got back in 31 days later, and will have capital losses to offset gains by December 31. We'll see.
What's fantastic about youth unemployment is that the welfare state relies almost entirely on the younger, healthier generation funding the current flow. The Yutes are not going to go into full bore revolution because they're no longer fed the promises of their parents' generation. It's that their parents' generation would no longer be supported on the backs of their children.
To position this as a crisis for the younger generation is a misdirection. And here's the rub: even if you "rescue" the welfare state now, the same issue comes up every generation. Namely, the current welfare payors can always reneg on the promises made to you by a politician long gone.
What's great is that the youth unemployment is being caused by the bureaucratic European state. You can't get a job because you can't be fired. Your company has to provide you insane benefits and you're not expected to produce anything. It's great to see Europe eating away at itself.
Interesting point. But ultimately I think the math will be deciding for us.
speaking of the EU albeit a bit off topic-
the EU has lifted the arms embargo and is ready to start supplying the Syrian rebels.
Russian foreign minister confirmed they will supply the Syrian government with the S-300 anti air missile system as well as advanced anti ship cruise missiles in order to "keep certian hotheads from intervening".
Israel, of course promptly threatened to destroy any Russian arms shipments to the Syrian govt by Russia.
so...
if everybody follows through with what they say, then this proxy war is about to turn into a real war. though I'm still not sure Israel would be quite insane enough to attack a Russian convoy outright given that that there will be Russian techs and advisers accompanying the equipment. any such attack would provoke a response up to and including Russia burning every IDF military base on the med.
in any case the lines have clearly been drawn, all pretenses of wanting a peaceful resolution have been clearly discarded and any chance of that conference yielding results have just dropped to zero.
now it's just a matter of who sets the whole thing off.
If they say they are 'going to do it' it seems likely to me the S-300s are already in Syria.
I think Israel is finding out just how much force Russia can project in the Mediterranean.
One 'accidental' nuclear weapon landing on Israel's Dimona nuclear plant, and terminating the Israeli state
Would not be an action mourned by everyone
And might calm many things down in that region
Yep. Britain and France are now going to supply Syrian rebels with weapons. Nothing was said by William Hague (UK Foreign Minister) about the small fact that some of the rebels are affiliated to our old friend Al Qaeda.
So, after Britain/France arming AQ, expect the "War on Terror" to be with us for a long time to come....
Typical european policy change announcement:
WHAT IS HAPPENING IS BAD = It's inevitable but don't blame me.
He never mentions how he proposes to 'rescue an entire generation of young people'. I'm fed up with profligate hand-wringing on the part of public officials who couch universally known problems in hysterical terms without bothering to offer solutions.
Schaueble is just another useless bauble.
He is not concerned if they go homeless, starve, overdose, or just commit suicuide. But if they start throwing rocks through starbucks while he is getting his latte.....
Yup. When he talks about a generation that is scared he should have applied it to his generation of bankers, financiers, and ministers who created the situation to begin with. Homeless people are so annoying when they clutter the footpath from your chauffer-driven car to the entrance of your favorite five star restaurant. Revolution is the answer until it happens in the front garden of your gated estate.
Out in the hamptons there is a decent native american population. Along Montauk highway, they have cigarette and duty free shops etc. In the winter they have figured out which high end homes have the least amount of security. They constantly burglarize and squat in those homes. The cops can't seem to be able to keep up with them, so they barely ever report the crimes. I think these native americans were ahead of their time...no pun intended.
If the rich land owners in the Hamptons had any practical intelligence or compassion at all they would hire those native Americans to be in their homes for the winter to maintain and protect the house and grounds, and pay them for estate management. They would not lose a god damn thing by using a bit of kindness mingled with common sense.
RSloans champagne bottles were going for $30,000 last weekend and were being delivered to the restaturant patrons by skydivers. There is your common sense. As for what that money could have done to help others....there is your compassion.
No offense intended and I have a hefty bit of Native American sap running through the family tree but...have you ever been on an Indian reservation? If their own home maintenance and protection is an example of the service expected then good luck with that.
These people make me sick. Rescue an entire generation of young people? It's more like rescuing yourself from them! It's your freaking policies that are causing this social economic mess, and it's your ongoing policies that will drag us into a major war!
War is a very efficient way of culling the youth demographic. Standing armies also give something for unemployed youth to do and takes them off those pesky unemployment rolls. I fear two things only: one] that world war will be seen as the only viable solution to so many social and economic problems and two] pandemics are highly efficient ways of clearing entire regions of the unwanted that clutter our human landscape. It would be naive to think that those two things have not been discussed as 'solutions' to protect those in power.
I gave you a green for thinking of the only English word that rhymes with Schauble.
Or however you spell it.
If you're from Boston, there are a few words that rhyme with Schauble. For example:
Marble
Garble
Warble
Wake up! These Morons are causing the problems they are now decrying. And the Morons in the US are frothing at the mouth to make us over in the image of Europe. Wake up Millennials and take back DC from the Socialists who will rob you blind and give it away.
Thats right! Wake up and sacrifice life and limb to clean up after your parents mistakes and their parents mistakes!
No thanks. Ill take care of my own interests first and worry about suicide by govt when there are a lot less over-armed, under-trained, boomer-sponsored pigs.
One advantage of having youth on my side, is when I say I am willing to wait them out, I mean it. Play the long game, bitchez.
No one is asking you to clean up after others mistakes but to just be cognizant and not repeat them. It looks to me the opposite is happening. Hell, the younkers in this country are voluntarily putting the rings in their noses.
THIS:
http://jacobinmag.com/2013/05/conflict-averse-liberals/
The assistants to these bankers and politicians will be hanging from lamp psts in pairs, berlin, luxembourg and DC. For the actual politicians and bankers it will be a long "Lubang" island ordeal where they are flushed out of their Carribean and Canary island bunkers. In the meantime we can only hope they don't inter-breed.
Does this mean France will have to work more than 30 hours a week.....doubt it....
Another German inspired World War might work
I'm pretty sure the Germans will happily hand over the baton to someone else. Besides, the 75,000-80,000 US troops in Europe (of which around 50,000 in Germany) are a good way to tie their hands. Didn't Germany even get rid of conscription recently? What a boring world this has become.
Have you actually seen any of those 50,000 US troops in Germany? I have. Let's just say that quite a few of them would have to slim down just a tad before they could jog a hundred yards in full battle gear. My guess is - not a threat.
Free Shit Nation will be unprepared and first to go to the FEMA Family Support Centres. New Orleans / Katrina was a precursor. Bank on it.
The FSCs will be human zoos and, it goes without saying, fully integrated as per the mandates of our great nation. Their gates is where I will probably draw the line and bring a few facilitators with me to the other side.
What Wolfgang Schaeuble is saying in code is that - after the EU elites have wrecked their economies and run their treasuries into the ground by excessive spending on ever more icons of socialism - they need to examine yet more ways to steal the money from those who still have some left, to fund youth employment programmes caused by their own gross mal-government.
What he doesn't mention is that there's nothing stopping the unemployed youth across Europe from abandoning media studies courses, learning a real/needed skill or two and starting their own business or becoming self-employed. The latter often doesn't require much capital start-up.
With the exception of possibly Fukushima global radiation - There are always solutions to man made problems.
Provided of course if we are willing to pay the price for those solutions. The idea that Europe cannot solve its youth unemployment problems is not acceptable. How about looking at the bloated EU political structure, Immigration, Taxation, global trade, solvency of EU financial markets, sovereign subsidty of commerce, etc. At a macro level, all these areas contribute to unemployment in general and youth uneployment in particular.
Delusions are at least mutual.
It may very well be that the so called welfare model, or transgenerational transfer model, has to be adjusted for ageing populations. Some may call my view that this system simply needs to be adjusted delusional.
It is also true that destroying labor to prop up profit margins, and then propping up profit margins even further by pushing the population into exponentially growing debt is equally delusional.
There is no solution to this problem until there is a clear recognition that, at the very least, both approaches have delusional aspects to them.
My personal prejudice says that the latter (destruction of labor) is more delusional and a root cause of our problems. I am willing to discuss the balance of the two though, as long as there is a willingness to discuss, rather than make blanket statements that any social safety net is a delusion and we must revert to some sort of darwinian society, whatever that might be.
“Germany, along with France and Italy, backed urgent action to rescue a generation of young Europeans who fear they will not find jobs…” -- Reuters
Government-created unemployment can only be truly eliminated when the Diogenes’ philosophy addresses government: “Stand a little less between me and the sun” (the great philosopher’s response when Alexander the Great asked whether he could do anything for him).
Nothing can be worse than a government that has brought European youth to their knees to arrive with payments to keep them on their knees.
And if Schaeuble means by “U.S. welfare standards” the old “American system” that individuals should be free of government to pursue their lives, then perhaps a revolution is really what Europe needs.
For, as the failure of socialism always proves, there is no such thing as something for nothing.
“Wealth cannot be created out of thin air. Only production effort can create TV sets, refrigerators, automobiles and houses. Money can be created out of nothing because money is not wealth…
“What stimulates economic growth—the production of wealth—is voluntary action on the part of individuals trying to improve their well-being.” --Robert J. Ringer, Restoring The American Dream, 1979.
Eventually you will run out of other peoples' money to bribe your immigrants with Herr Schaeuble.
France is still by far #1 in the immigrants burning cars category. Krugman's utopia.
Well, at least in the good ol' land of the free, all but a few of the "yutes" are asleep and unaware of the true nature and causes of the growing unemployment problem. And, even if they do unplug from their XBoxes long enough to organize on facebook for some kind of "protest", the gubmint's drones, sonic blasters (http://www.cbsnews.com/8301-205_162-57341424/protests-boost-sales-of-sonic-blasters-to-cops/) and heat-ray crowd busters (http://www.youtube.com/watch?v=F3-SIXCkh5E) will keep it's tax-paying debt serf-chattel from getting too upity!
With liberty, justice and welfare for all. Why do we even have welfare? The economy is booming in America, just listen to 5 minutes of CNBC.
“What happens when everyone is asleep is called Evolution. What happens when everyone is awake is called Revolution.” – G.K Chesterton, Utopia of Usurers
More en more people wil bitcoin the (welfare driven) tax system because of this kind of idiots, here in the Netherlands you basically work for the tax office now, more and more people are quitting jobs, get a welfare cheque, en go work for cash outside the system, it is the only way, the tax load is insaine here and that's why our economies (EU) are collapsing right now, the political elite, and those moral fascists in Bruxelles are still in a complete state of denial.
UNPLUG, KIDS! That's good advice from Chris Hedges and myself. Read, read, read. Read anything by: John Reed, Sheldon Wolin, - although I recommend particularly - "Democracy, Inc. Inverted Totalitarianism'" by Wolin, and "The Great Transformation" by Karl Polyani. Anything by Walter Lippman would also be instructive. I was fortunate enough to spend one and one half hours last night on Jesse's Cafe Americain watching Chris Hedges' speech to a group of Canadian university students studying journalism. We need a revolution, alright. CONgress does just whatever they feel like doing to us, on a daily basis. There is a one party system in firm place, make no mistake about that. How the hell do these FUCKERS in CONgress have a 98% re-election rate alongside a supposed public confidence rate of under 9%? Members of CONgress are the only inherent criminal class in the USA. Proud to be an American? NOT!!!
How the hell do these FUCKERS in CONgress have a 98% re-election rate alongside a supposed public confidence rate of under 9%?
Easy, the 9% has all the money and owns the media and they vet all the candidates.
Dude! All elections are stolen. Wake up and smell the coffee.
The revolution will peter out when the cheesy puffs can no longer be delivered to store shelves. I don't know about a revolution, but I'm sure that some serious suffering is around the corner. I'm not at all pleased about that but that is what we have building towards and that is what we will have to endure and hopefully survive.....
and here I thought the revolution was gonna start when the cheezy puffs were no longer on the store shelves.
Nope! When the cheezy puffs disappear is when the SHTF. Stay tuned for the revolution later.
going to see a movie wake me up when they reverse immigration
They are panicking ... but not for the reasons of social and civic unrest per se. He betrays his fears when he talks about a lost generation. The real problem with EU youth unemployment, particularly in Southern Med countries, particularly for recent school and college leavers, is that if it goes on long enough, you end up with a cohort of people that have no jobs skills or experience -- and they never catch up. That cohort goes through life always on the back foot from those missing years.
To illustrate this, take a Greek graduate that entered the labour pool at 22 in 2008. He/she couldn't get a job then, and hasn't been able to get a job since. This graduate is now 27 with no work skills or experience (and there are five years of graduates behind him/her also in the same boat). If the Greek crisis goes on any longer, this graduate could be 30 to 35 before he/she gets a job and when they do ... they can only work on a junior level because they have no valuable experience or job specific skills. The work in their 30s ends up being the kind of low-paid, figuring it all out, getting valuable experience work most people do in their 20s. It has a huge knock-on effect if the unemployment problem goes on long enough because the increased value work that comes from experience and skills on the job that adds to a country's GDP and wealth and that you can tax doesn't happen until much later in the life cycle.
With that graduate, he/she isn't really "valuable" until after 40 (with most people, it tends to be 30), which means you get 25 to 27 years of value work out of them, instead of 35 to 37 -- and that has massive implications in terms of tax, disposable income over lifetime, and GDP. Now consider all the Greek graduates and school leavers that couldn't get jobs between 2008 and, say, 2016 to 2021. That is the size of the cohort this would affect, you are talking about a decade of people, and that decade will travel through the lifecycle as a bulge of back footers -- impacting household formation, birth rates, the capacity of the labour pool at different age strata, consumer habits and GDP and taxation capacity. In short, it becomes even more difficult to get the economy back to growth, the longer the unemployment continues. Age cohorts become gradually more de-skilled.
That is what Wolfie is worried about: EU nations expecting EU standards of living but with de-skilled and low value labour pools that span a decade or more.
They are not panicking! All is according to the master plan. 1. Bankrupt the middle class. 2. Destroy the prospects of the children of the middle class for gainful employment. 3. End result for the following generation born into what is transpiring today is "The Hunger Games", aka "Lords and Serfs". Another possible outcome for all of this theft is "Somebody get me a rope!" I think that if some hundred or hundred and fifty of those powerful bankers are strung up on light posts, the rest will get the message and become almost charitable human beings. The fear of meeting thy maker can do wonders with the human sociopath mentality.
Serfs don't create the kind of wealth these people need, that is why they are panicking. Would you rather live off the backs of 1000 unskilled labourers or off the backs of 1000 highly specialised tech-head engineers? The former means you live like a medieval king (stone hall and 10 horses); the latter means you live like Bill Gates (palatial homes and your own plane).
Wolfie is stressed because the situation is going to result in unskilled labourers, rather than engineers, and that means people like him are gonna end up being paid in potatoes rather than Merc tokens. Hell, everyone is gonna end up being paid in potatoes.
Dang! Not the "R" word!
Duh ! Take away the free cheese and you will have civil unrest big time !
What great insight from Her Schaeuble (sarc)
Schrodinger Schaeuble, let’s just enroll you into ObamaCare. The death panel handlers will roll you off the cliff. Your purpose has been served by the State Government.