This Is Europe's Scariest Chart
Surging Greek and Portuguese bond yields? Plunging Italian bank stocks? The projected GDP of the Eurozone? In the grand scheme of things, while certainly disturbing, none of these data points actually tell us much about the secular shift within European society, and certainly are nothing that couldn't be fixed if the ECB were to gamble with hyperinflation and print an inordinate amount of fiat units diluting the capital base even further. No: the one chart that truly captures the latent fear behind the scenes in Europe is that showing youth unemployment in the continent's troubled countries (and frankly everywhere else). Because the last thing Europe needs is a discontented, disenfranchised, and devoid of hope youth roving the streets with nothing to do, easily susceptible to extremist and xenophobic tendencies: after all, it must be "someone's" fault that there are no job opportunities for anyone. Below we present the youth (16-24) unemployment in three select European countries (and the general Eurozone as a reference point). Some may be surprised to learn that while Portugal, and Greece, are quite bad, at 30.7% and 46.6% respectively, it is Spain where the youth unemployment pain is most acute: at 51.4%, more than half of the youth eligible for work does not have a job! Because the real question is if there is no hope for tomorrow, what is the opportunity cost of doing something stupid and quite irrational today?
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I think the second scariest chart is the US bank exposure to the european debt. Chart below:
http://www.ftense.com/2012/01/us-bank-exposure-to-toxic-european-debt.html
Any chance we can get some of that youth to mop up that debt? Pay them in CDS paper! Damn this finite planet.
This Is Fucking BAD ...
How long before these "Kids" with their Jobs I-Craps are out in the streets, ripping everything in their path appart ?
How long before they are out in the neighborhoods of the the "1%"ers, paying them friendly visits.?.
Once Greece leaves the union and returns to the Drachma, Spain, Italy and Portugal will see the wisdom of it, and copy their move. Doing so will evaporate a huge chunk of the money they owe, that is if they don't write it off completely. After that, youth unemployment will approach one hundred percent, while the entire European economy resets. It ain't 'gonna be pretty either way.
You SEE? This is what happens when governments cut spending too much and too fast. The European economies are collapsing into the void that was once filled by essential government services. Europe demands FREE education, FREE healthcare, more desirable working conditions, remuneration and benefits packages. This is the beginning of the progressive revolution. We need to give power back to the people by allowing the government to distribute resources as they see fit.
haha
I love your shit man
MillionDollar Goober the emphasis on FREE is your satirical "tell" get your poker face back manchild, it's starting to show
But there are some politicians thinking to themselves "if we can get these idiots to buy into communism we could take over the country and fuck all the good looking chicks and eat like pigs for the rest of our lives."
Some?
Sorry, but measuring unemployment starting at 16 is a bullshit statistic. Yes, unemployment in Spain is completely horrific. But starting at 16 is a very strange measurement and says as much about society as it does job prospects.
Show us the stats for 20 somethings. The figures are bad enough. We don't need to fudge the measurements & break the 50% mark in order to be impressed. 35% for 20 somethings is IMHO much more frightening.
Most 16 year olds that need jobs just pick pockets anyway.
are these those pre-revolutionary charts Tyler was talking about?
Long on Petrol-Bombs...
now TPTB will spin this as "the failure of capitalism" to promote their communist agendas. and the sheeple dont realize that the insane deficit spending, fraudulent monetary policies, and "free" trade policies created this shit show.
This one's easy. All you have to do is to march the Greek kids to war against the Spanish kids et viola, problem solved. The 'winners' can then have a crack at Portugal.
All you need is someone good at hosting an invasion and you've cracked it. How about France, they have a lot of experience hosting invasions...
Don't tell me you haven't heard of that old chestnut. Now who's taking odds the outcome will be any different this time?
Spain needs to get with the program and write these kids off like the US.
Seriously though, all this proves is that Spain is trying to be realistic, while the US settles for a hefty dose of denial. Keep believing your kids will have the opportunity you had. Push their asses out the door and into college where they'll get raped for major $$$.
it's worse than real shit which can be used for fertilizer. It's worse than real paper which can start a fire. It's just useless blips issued and managed by useless blips
S&P just downgraded Frasier...errr....France.
But C'est la vie.
Italy, not Portugal nor Ireland, nor even Spain, is the firewall, bitchez.
Soros is giving free investment advice from the good and deep well that is beating, gentle human heart - he has loudly said he's long Italian bonds, and that everyone should be (it's commonly assumed that Soros always loudly announces his investment plans as they materialize, in real time, to benefit the masses).
/SARC-A-LARC-A-LARK
*Steve Roach left Davos via a back kitchen door as he has told Bloomberg's Tom Keene that there was incredible tension and hostility and stupdiity being expressed/exchanged between the 'leaders' of the EU's political and economic regimes.
All the jobs were vaporized...
The tried and true method of lower unemployment is start a war. It's work for thousands of years. Not enough to do for the men of the tribe (or too many men in the tribe - see China); go beat up the other tribe and steal their shit.
Now if only we would be preparing for a war...
Not so. In Spain most boys leave school at 16. It is like Ireland. The girls keep going. The boys want to go out and live. "Trades pay well, so why not?" Sad. In August the unemployment was clearly already causing big problems, and the cuts in local government services. too. It is essential to live in the same neighborhood as some politicians. Clean streets. Extra policing. What a world.
Adult unemployment in Spain is currently 25% according to the official numbers.
Draft them into the Military. Send all of them overseas to fight for Nato.
What we need is for the United States to start construction of the aircraft carrier USS Paul Krugman. That will generate infinite billion jobs for however-long-it-takes-to-get-Obama-reelected.
The Krugman will be the only aircraft carrier in the world capable of conducting all of it's operations while completely submerged.
Not only that, it will be the only aircraft carrier in the world that only attacks it´s on country. "Broken window fallacy? What broken window fallacy? Bomb-bomb-bomb-Boston! If the aliens don´t come, USS Krugman surely will!"
Ah I hadn't considered that. Imagine how much demand there will be for window-repairmen. This means...
Hang on I gotta do some math here.
<carry the 5, multiply by pi, divide by the square root of Krugman and...EQUALS>
The construction of the USS Paul Krugman will create infinity billion, seven hundred and ninety four jobs.
I am sure it will look just like the car Homer Simpson designed too.
The USS Krugman with Captain Ben Queeg Shalom Bernanke brought back the Zeplin - filled with an atomic money bomb. Submerged in stupidity - damn the torpedos - full inflation ahead.
No, it's actually Bedford's Captian who would not let the sub go. In fact one of the stupid local channels cannot let go of that old movie either.
What's next? Fail Safe? Dr. Strangelove?
Seven Days in May
We have more than enough Aircraft Carriers now. What we really need are Spacecraft Carriers. /SARC
Thinking about it, TARP was more than every dime spent on NASA, put together. Even after inflation adjustment.
If they were to deploy $2T of Fiat on a rush space program, we probably could colonize the moon within a decade... which would create a heck of a lot of jobs Earth-side. A new frontier couldn't hurt.
Pipe dreams stuffed with crack and hopium. Never happen. The money would vanish. There would be delays, additional funding needed, studies, CON-gressional oversite meetings, the whole gamut. We'd see jobs in oh a couple of decades, maybe. At this time there is zero to be gained by establishing "Moon Base Gingrich", except perhaps a place to stash all the worthless pieces of shit ruining...er um...running our country now, and a monetary black hole to dump a ton of slush capital.
Moon base my ass.
Think of all the Tritium sitting up there.
And in fairness, the ship will be staffed (not manned) by a cross section of that rainbow of happiness and competence from the Left.
no. Like its namesake, the USS Krugman will piloted by a drone.
At the christening, can we put him in the reactor?
Forget an aircraft carrier - we need a starship
"Truth - the final casualty. These are the voyages of the USS Krugman. Its mission - to regurgitate stale, failed ideas. To lash out at all life and all civilization. To scold, for he knows what no man has known before".
Actually, I think we already have this starship in the fleet. Its the USS Obama.
Then allow defaltion and reward savers idiot. Restore the rule of law by prosecuting the fucking fraud and allow the savers to be the ones to reinvest and be rewarded for a fucking change.
You academic idiots alwasy only tell the HALF of the truth you like. Prosecute the fucking fraud already, restore the rule of law.
Deflation, you the man. From the beginning of 1875 to 1879 the US money stock decreased 8.6%, yet real GDP growth averaged 5.2%.
5.2% growth rate would be pretty fucking good these days.
quit making sense, it's an act of terrorism
The people in place to prosecute dine at the same table as the fraudsters, there is no chance of justice being served or even on the menu.
You are on a ROLL LawsOPhysics. Allow me to continue your rant... And a magical Unicorn! And FTL Travel! And Personal Time Machines! And No Child Left Behind! And an End to Hunger, and Hunger Games! And Peace between the werewolves and vampires and humans! And Han Solo Fires First! And ... no, seriously, I laughed so hard I snorted at your 'prosecute the fucking fraud, restore the rule of law, etc. Comedy Gold!!
You do realize that only fraud and lies keeps this wheezing flying turd in the air, right?
Irony doesn´t really do well in writing. Oh, you´re serious?
I think you should read up on politics and management of public funds in southern Europe before making such stupid statements. The less money that is mananged by those corrupt kleptocrats the better.
No, this is what happens when governments start redistributing money. This is the main reason socialism doesn't work. Eventually you run out of other peoples money, and then socialism - communism becomes fascism. Progressives are what is wrong with the world. I wish all you assholes would get together, pick a country to create your utopia in, and then leave the rest of us alone.
No, this is what happens when governments start redistributing money. This is the main reason socialism doesn't work. Eventually you run out of other peoples money, and then socialism - communism becomes fascism.
:::::::::::::::::::::::::::::::::::::::::::::::::::
No, this is what happens when governments start redistributing land. This is the main reason US citizenism doesn't work. Eventually you run out of other peoples land, and then US citizenism - US citizenism remains US citizenism.
I wish some of this redistribution would come my way. Every chart shows the rich getting richer while the rest are the losers. Fuck the socialist/progressive bull shit. All that shit is is redirection from the rich and their lemmings.
you've got to be having a larf mate!!!
Are you insane? Wot sort of drugs are you doing????
Go and annoy the Green Party Blog and touch base with your communist friends.
We need to give power back to the people by allowing the government to distribute resources as they see fit.
That's about the dumbest statement I've seen on ZeroHedge.
Give power back to the people by giving it all to the govt.
Your facade is beginning to crack. Not only that it is clear your undestanding of economics is cursory, limited only to the noisy exchanges on TV, that fit into 30 second bites made for the lowest common denominator.
If you are the pompus tool that you appear to be my only desire is that somehow you experience some event that brings you down to earth somewhat. Note this event may be non financial for example losing a loved one generally gives people a reality check.
He is a satire troll. Relax with The Man Himself.
http://www.youtube.com/watch?v=gzNZEUoLYL4
Wow, I thought ZH had taste! Only one green arrow, really, considering the subject is one of the greatest American musical geniuses...ever? You don't have to be a banjo picker to appreciate the man that is Earl Scruggs.
http://www.youtube.com/watch?v=AJOIqmlI65Y
War is peace!
The reason Europeans don't get to live beyond their means forever (free everything) is the ancient law - you can't forever spend more than you make. Redistribution is as old as society and the result is always the same: Smart, creative and hardworking individuals get ahead. Lenders have concluded that the EU with its declining, dispirited citizenry will never "grow" itself out of recession while consuming more than they produce.
Yes, austerity is a vicious whirlpool but what is the alternative? Printing money, confiscating wealth, changing the social system? Chances are 100-1 that given the power, governments will distribute wealth to its supporters (thus building another overclass).
Bravissimo, MDB
"....what is the opportunity cost of doing something stupid and quite irrational today?"
"Three hots and a cot if you don't get shot."
RapperZ
Fractional Reserve cental bankers were heard remarking "[w]e plan on addressing that legitimate & serious issue by printing as much cake as is required to ameliorate their hunger pangs," anytime this subject arose in conversation at Davos 2012*.
William Dudley was said to be so concerned that he was heard by officials who wish to remain anonymous as stating that he plans on personally visiting Tim Cook to insist that the ipad3 be fortified with osmotically absorbed vitamins and essential minerals.
*Sponsored by The Rothschild Group.
Don't Spanish youth smoke heroic amounts of marijuana and hashish? And are sexually quite promiscuous? And party a lot in general? And live at home so they don't have to worry about food and shelter?
How many of that 51% are actually, REALLY, looking for work?
Tough to make time for violent protest in between late-night clubbing, tokes off the hash-pipe, and BJs from your girlfriend.
Suggest you trundle off to Spain and state that in public around some of those worthless youths you seem to know so well.
Shame on you for being so un-christian in eveyway I can think of.
Thou shal not lie. Thou shal not bear false witness. How does that work for you?
All these up arrows you have gotten is truly shocking.
stfu with your religious bullshit please...
I'm sure the average IQ on ZH is higher than 100. This should mean that the percentage of religious folks here should be lower than average, since there's an inverse relationship between intelligence and being religious. So let's see if this shows up in your up/down votes. "Blindfaith" is doing allright.
Oh, and you guessed right I'm not religious. Else I wouldn't come up with this. Religious people don't like facts do they. Bunch of hypocrits.
So, do something Intelligent then, alleviate some suffering: http://www.worldvision.org
The lowest depts of hell are reserved for "Christians".
and at the bottom of that pile are the methodists.
And serving the furnaces below that are the Catholics.
Did you happen to notice that my entire post was phrased as a series of questions? I was stating my impression, based on what I know about spanish culture and the habits of spanish youth. Yes, I have been to Spain.
If you have some real information to share, why don't you do so, instead of making ad hominem attacks?
So... tell me more about your girlfriend.
While this is going on not only in Spain but almost everywhere, the household balance sheets are mostly negative and falling rapidly.
Just a few more straws and it will all come down. My next move after the Apple euphoria is to heavily short the stock in May. When it does come down, it hapens during the weekend and reacting is almost impossible.
I have sold all my stocks, but I am shorting some, while accumulating physical PM's
Sounds great...I'm moving to Spain. Feel free to increase the unemployment % after my arrival.
we don't want white people in Spain, just black/muslims/amerindians.
PS: we can make an exeption if you are gay/seriously disabled/have an exotic disease.
Sounds like Frank, Dodd and Pelosi's dream society.
Except it would immediately depopulated itself. After they
killed the gays and seriously disabled the blacks and
muslims would start killing each other.
Long live Darwin.
You mean fat, lazy, Americans can get laid in Spain?
"You mean fat, lazy, Americans can get laid in Spain?"
When you're competing against fat, lazy, unemployed Spaniards it ain't too difficult.
What an infantile post. Your febrile imagination running wild on hash pipes and BJs fails to take into account the simple fact that there is no work available in Spain. None at all. The only reason there isn't rioting on the streets is because the Spanish do have a strong family ethic and tend to look after one another, with a particular sense of responsibility towards the aged - currently in reverse mode as the elderly are looking after their unemployed grandchildren. I haven't seen any tent cities in Spain yet; people have a strong connection to the land and most have a family member or friend who can help out with home grown food. I enjoy your cartoons; it's disappointing to realise there's a lightweight mind behind the hand.
You're confusing this guy with WilliamBanzai, he does the cartoons.
Priceless.
All these fucking Japs are the same.
Enjoy my cartoons? Hey guess what! You're a fucking idiot.
I was in La Linea - a shithole in Spain- last week -
Masses of (mainly brown) youths wandering around looking for trouble - no street lighting because the local town council is bankrupt and and cannot afford to pay the bills.
The only people with jobs are
a) local govt employees who are currently getting half pay and
b) the 20,000 people who commute across to Gibraltar ( a British territory) each day to work as bar staff.
Spain is a scary dump .
In contrast to Italy ( where I was today).
The trains are on strike, the taxis are on strike, shops are empty, gas stations empty - I could go on. ( Oh the earthquake didnt help much!!!)
The EZ is fucked up.
Our Euro leaders (All Cunts) dont get to visit La Linea or Savona much ( no 6 star hotels) - that's why they are so out of touch with the people who they are supposed to represent.
The successes of soccer clubs Barcelona and Real Madrid and in tennis/basketball and other sports have also an anesthesic effect on youth.
I'm sold Buckaroo! Off to book my trip to Spain.
I have, however, noticed a marked increase in young Spaniards begging outside of supermarkets though at least they're not resorting to crime in this area ... yet.
I have, however, noticed a marked increase in young Spaniards begging outside of supermarkets though at least they're not resorting to crime in this area ... yet.
They won't discriminate, believe it. If you have a house and a car you will be a 1%er.
and yet it is NOT the 1pc who are to blame for this mess.
it's the .000001%
This is good question, but you presume that they actually know where these "neighborhoods" are. The two venture capital guys I know employ former military experts and locals to "care" for their properties in Barbados. Wake the fuck up dude. Come within a half mile of these plantations and you won't see the infrared beam that tags you a millisecond before you die.
Nature makes NO promises regarding anyone's survival. Vandalism is a waste of energy and does nothing more than target you for elimination. The Smart ones will make the right alliences and move forward from there. Random chaos plays right into TPTB and insures the status quo. Same as it ever was.
'Nature makes NO promises regarding anyone's survival.'
Are you a Kalahari Bushman?
Just sayin'
It is only fair that the 1% live in perpetual fear. It is what they are foisting upon the rest of the world, through their war of terror on the 99%. There should be a war on terror, only the target and souce has been misidentified... oops.
Yes, I think that with time it will be clear that taking out ones frustrations through vandalism only serves those who want to enslave the world. The answer is more than likely to give them total control, but no cooperation... and let them see how many of the rest of the world they can murder ... just put into the open what is already happening covertly... and have no fear.
Can they emprison, starve or murder 6.8 billion people? It seems that they want to try. The more they kill, the more they will be isolated and the less cooperation they will find (it is already happening and it has only started). Right now some of the older folks still believe the propaganda and lies, but that is also changing.