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If You're Poor In Latvia, Move To Denmark

Tyler Durden's picture




 

Expenditure on social benefits in the EU fell to 29.1% of GDP in 2011 from 29.7% in 2009, Eurostat said yesterday. However, do not feel too bad for the broad European social state. While France (as one might expect) nears the top of the list with over 33% of GDP spent on "social benefits", Bloomberg's Niraj Shah notes that it is Denmark that spends the most on welfare at 34.3% of GDP, and Latvia spent the least, 15.1%. Of course, in the new normal, as in the US, retirees accounted for the majority of the trasnfer payments with an average of 46% of total expenditure while unemployment benefit accounted for 6%. Interestingly, Greece nears the top of the list with almost 31% of GDP spent on welfare.

 

 

Source: Bloomberg

 

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Fri, 11/22/2013 - 14:57 | 4181731 HedgeAccordingly
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might as well.. better weather?  and more social programs - http://hedge.ly/1c7IE91 

Fri, 11/22/2013 - 15:14 | 4181796 Say What Again
Say What Again's picture

I find this to be a refreshing article today.  Every other post today was about how we are in a bubble, but keep on buying as long as its going up.

We're not really in a bubble, are we?

Prove it....

 

Fri, 11/22/2013 - 16:59 | 4182202 Richard Chesler
Richard Chesler's picture

Welfare = banksters' Gulfstreams

 

Fri, 11/22/2013 - 20:16 | 4182678 Occident Mortal
Occident Mortal's picture

Continental Europeans despise the rich.

Well that's not true actually, they adore the stylishly rich and despise anyone who does not wear all of their money.

In Paris teachers catch the bus, but they carry $2000 hand bags.

Anyone with more money than the cost of a Visace suit is an ass'ole.

Fri, 11/22/2013 - 15:00 | 4181741 Stuck on Zero
Stuck on Zero's picture

If you're poor in the U.S. move the government to Denmark.

 

Fri, 11/22/2013 - 17:24 | 4182299 Haager
Haager's picture

The Danes will shoot that government - and rightly so.

Sun, 11/24/2013 - 10:45 | 4185310 Svendblaaskaeg
Svendblaaskaeg's picture

"The Danes will shoot that government - and rightly so."

Death by a thousand BB-guns? - all You can own without a license in Denmark is a 4.5/0.177 airgun

 

Fri, 11/22/2013 - 15:03 | 4181755 overexposed
overexposed's picture

As long as the money stays in the nice, anonymous Latvian bank account, why not?

"Income?  What income?"

Fri, 11/22/2013 - 15:11 | 4181782 Ralph Spoilsport
Ralph Spoilsport's picture

Latvian is rub lamp find genie. Genie say, “What is three wishes?” Latvian say, “I wish potato!” Then, POOF! Potato! Latvian so happy! “Oh! Is potato! Is potato!” say Latvian. Genie ask, “What is next wish?” Latvian is say, “I wish you go away so can enjoy potato!” POOF! Too bad. Also, was only lamp.

Fri, 11/22/2013 - 15:12 | 4181783 NOTaREALmerican
NOTaREALmerican's picture

Obviously, this entire article is wrong as it implies that the OldFart leaching off of SS and Medicare are almost half of the welfare payments.

Everybody know OldFarts don't live off of welfare.   Only "those people" do.

Fri, 11/22/2013 - 15:17 | 4181808 Bay of Pigs
Bay of Pigs's picture

Danish women are hot. Sounds like a good move.

Fri, 11/22/2013 - 19:19 | 4182566 Motorhead
Motorhead's picture

I'm sure they are, but, man, I'd say Latvian women are hotter.  Babes galore there.

Fri, 11/22/2013 - 19:43 | 4182614 Ralph Spoilsport
Ralph Spoilsport's picture

Latvian women are hot (lotsa blondes with little dogs running around Riga). Be careful though, they are used to putting up with the Russians and guys in the US are pushovers to them.

Fri, 11/22/2013 - 15:17 | 4181813 orangegeek
orangegeek's picture

The current US government is from Denmark

Fri, 11/22/2013 - 15:24 | 4181837 Dr. Engali
Dr. Engali's picture

I have an idea. Let's pull our bases out of Europe and let them defend theirselves. Then let's see what their transfer payments look like.

Fri, 11/22/2013 - 15:31 | 4181868 copernicus
copernicus's picture

Give it 10 more years, countries like Denmark, Holland, Sweden, Norway, France, UK are going to cave in under the load of their shit welfare states catering to ngs and arabs... The homogenous White Eastern Europe will be the place to be at that point in time. 

 

Fri, 11/22/2013 - 19:10 | 4182550 Rafferty
Rafferty's picture

You sir are 100% correct. Here in Europe the White population is being replaced at a staggering rate.  The NWO/YKW agenda is suceeding to a staggering degree.

Sun, 11/24/2013 - 10:55 | 4185327 Svendblaaskaeg
Svendblaaskaeg's picture

"..Give it 10 more years, countries like Denmark.."

Sure thing, cant speak for others, but personaly I'm going 75% Galt, lived all my life without debt, have secured my savings - stagger, stagger...say no more

Fri, 11/22/2013 - 15:46 | 4181923 NEOSERF
NEOSERF's picture

Something stinks in Denmark and they are the best of the lot.

Fri, 11/22/2013 - 17:26 | 4182307 Haager
Haager's picture

I love statistics. The total expenditure has dropped since 2009 - thanks to the new countries since then that didn't have that rate of expenditures.

Reality is a bitch.

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