This Is Europe's Scariest Chart

Tyler Durden's picture


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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Mon, 01/30/2012 - 12:25 | 2109805 Future Tense
Future Tense's picture

I think the second scariest chart is the US bank exposure to the european debt.  Chart below:

Mon, 01/30/2012 - 12:31 | 2109827 LawsofPhysics
LawsofPhysics's picture

Any chance we can get some of that youth to mop up that debt?  Pay them in CDS paper!  Damn this finite planet.

Mon, 01/30/2012 - 12:35 | 2109840 BaBaBouy
BaBaBouy's picture

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.?.


Mon, 01/30/2012 - 12:36 | 2109861 Ancona
Ancona's picture

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.

Mon, 01/30/2012 - 12:40 | 2109877 MillionDollarBonus_
MillionDollarBonus_'s picture

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.

Mon, 01/30/2012 - 12:41 | 2109894 Hober Mallow
Hober Mallow's picture


I love your shit man

Mon, 01/30/2012 - 13:12 | 2110033 prains
prains's picture

MillionDollar Goober the emphasis on FREE is your satirical "tell" get your poker face back manchild, it's starting to show

Mon, 01/30/2012 - 13:16 | 2110049 economics1996
economics1996's picture

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."

Mon, 01/30/2012 - 13:17 | 2110061 NotApplicable
NotApplicable's picture


Mon, 01/30/2012 - 13:37 | 2110133 Popo
Popo's picture

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.

Mon, 01/30/2012 - 13:45 | 2110154 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Most 16 year olds that need jobs just pick pockets anyway. 

Mon, 01/30/2012 - 13:55 | 2110185 DaveyJones
DaveyJones's picture

are these those pre-revolutionary charts Tyler was talking about?

Mon, 01/30/2012 - 14:12 | 2110259 Hugh_Jorgan
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Long on Petrol-Bombs...

Mon, 01/30/2012 - 14:26 | 2110296 Comay Mierda
Comay Mierda's picture

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.

Mon, 01/30/2012 - 14:50 | 2110353 Harlequin001
Harlequin001's picture

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?

Mon, 01/30/2012 - 14:56 | 2110361 dwdollar
dwdollar's picture

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 $$$.

Mon, 01/30/2012 - 15:32 | 2110478 DaveyJones
DaveyJones's picture

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

Mon, 01/30/2012 - 14:28 | 2110303 TruthInSunshine
TruthInSunshine's picture

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).






*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.

Mon, 01/30/2012 - 13:50 | 2110179 francis_sawyer
francis_sawyer's picture

All the jobs were vaporized...

Mon, 01/30/2012 - 14:10 | 2110243 V in PA
V in PA's picture

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...

Mon, 01/30/2012 - 14:14 | 2110266 Ropingdown
Ropingdown's picture

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.

Mon, 01/30/2012 - 16:22 | 2110684 Lord Koos
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Adult unemployment in Spain is currently 25% according to the official numbers.

Mon, 01/30/2012 - 17:54 | 2111038 HungrySeagull
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Draft them into the Military. Send all of them overseas to fight for Nato.

Mon, 01/30/2012 - 12:44 | 2109907 taniquetil
taniquetil's picture

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.

Mon, 01/30/2012 - 12:53 | 2109949 repete
repete's picture

The Krugman will be the only aircraft carrier in the world capable of conducting all of it's operations while completely submerged.

Mon, 01/30/2012 - 13:18 | 2110065 The Swedish Chef
The Swedish Chef's picture

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!"

Mon, 01/30/2012 - 13:25 | 2110094 taniquetil
taniquetil's picture

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.

Mon, 01/30/2012 - 14:02 | 2110226 Quinvarius
Quinvarius's picture

I am sure it will look just like the car Homer Simpson designed too.

Mon, 01/30/2012 - 13:33 | 2110119 I am more equal...
I am more equal than others's picture

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.

Mon, 01/30/2012 - 17:55 | 2111043 HungrySeagull
HungrySeagull's picture

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?

Mon, 01/30/2012 - 22:56 | 2111677 StychoKiller
Mon, 01/30/2012 - 13:17 | 2110059 Long-John-Silver
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We have more than enough Aircraft Carriers now. What we really need are Spacecraft Carriers. /SARC

Mon, 01/30/2012 - 14:12 | 2110258 CutterJeff
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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.

Mon, 01/30/2012 - 14:54 | 2110369 Falcon15
Falcon15's picture

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 um...running our country now, and a monetary black hole to dump a ton of slush capital.

Mon, 01/30/2012 - 17:56 | 2111045 HungrySeagull
HungrySeagull's picture

Moon base my ass.

Think of all the Tritium sitting up there.

Mon, 01/30/2012 - 13:42 | 2110145 Divine Wind
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And in fairness, the ship will be staffed (not manned) by a cross section of that rainbow of happiness and competence from the Left.


Mon, 01/30/2012 - 14:28 | 2110304 Bananamerican
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no. Like its namesake, the USS Krugman will piloted by a drone.

Mon, 01/30/2012 - 13:56 | 2110198 DaveyJones
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At the christening, can we put him in the reactor?

Mon, 01/30/2012 - 15:01 | 2110347 ex VRWC
ex VRWC's picture

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.

Mon, 01/30/2012 - 13:12 | 2109924 LawsofPhysics
LawsofPhysics's picture

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.

Mon, 01/30/2012 - 13:22 | 2110080 economics1996
economics1996's picture

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.

Mon, 01/30/2012 - 13:58 | 2110206 DaveyJones
DaveyJones's picture

quit making sense, it's an act of terrorism

Mon, 01/30/2012 - 14:28 | 2110308 oddjob
oddjob's picture

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.

Mon, 01/30/2012 - 14:40 | 2110337 RafterManFMJ
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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?

Mon, 01/30/2012 - 13:05 | 2110002 The Swedish Chef
The Swedish Chef's picture

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.

Mon, 01/30/2012 - 14:03 | 2110229 one man wolf pack
one man wolf pack's picture

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.

Mon, 01/30/2012 - 15:44 | 2110523 AnAnonymous
AnAnonymous's picture

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.

Tue, 01/31/2012 - 09:52 | 2112367 roadhazard
roadhazard's picture

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. 

Mon, 01/30/2012 - 14:05 | 2110234 koperniuk666
koperniuk666's picture

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.


Mon, 01/30/2012 - 14:10 | 2110251 cranky-old-geezer
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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.

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