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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
argh
no
NO
up-voted.
provided it's a government by the people & not the banks I feel compelled to agree.
Of course right now it's being taken over by the unelected banksters but my vote is cast
"....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'd rather be an idiot fucking.
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.
you should visit Croatia. It is an amazing place. You will be impressed! yacht charter dubrovnik | yacht charter split | yacht charter biograd
Why what could it possibly have? Greece should have never been in the Eu, thats the truth of the matter. They have always been a risk to the Europeon union and will contiune to be one for the forseeable future. I'm glad the UK are not heavily involved but I still think that Europe will pay the price for Greece. Bail out after bail out it seems it will never end, then what? they will just default.. I read you stuff all over the net, nice job Tech Guy @ payday loans
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.
"Can they emprison, starve or murder 6.8 billion people? "
6.8 billion people have already imprisoned themselves and many are already starving, wake the fuck up. "They" don't have to do anything when so many are willing to kill each other anyway, and Nature will take care of the rest. Again, wake the fuck up.
Semantics ... of course the fiat economic system is virulent form of slavery and if slavery is your definition of emprisonment then we are in 100% agreement.
... roughly 20,000 people starve to death each day, most of them children. Still, the population grows.
In my case I was referring to the physical act of putting into cell blocks or executing someone. It takes more effort than the current form of slavery ... and if they are happy with the level of control through economic "emprisonment" and people are satisfued with their fiat chains then there is an equilibrium. I just do not think that we are at equilibrium, vandalism is no solution and executing the elitists is not an option for me either (but it might be for others).
Fair enough. The sooner in life one recognizes that they are guaranteed nothing, the sooner they are free to "choose" their own slavery. Be it by debt or physical and/or mental chains. No one on this planet is debt-free, period. If you don't like the idea of people executing each other then your actions should work towards making sure certain human animals do not have the means to do so.
The challenges we all face will not define us, in the end, it is how we overcome them that matters.
"The challenges we all face will not define us, in the end, it is how we overcome them that matters."
Dang LP, that is some Sage advice!
Vandalism did not help the Vandals.
Of course vandalism helped the Vandals. They have progeny across much of Europe. They're more famous than any rap star, and live on in history for the foot-loose party culture they pursued.
you sir are, spot on - 100% correct
Let's hope they figure out that the true criminals are the Central Bankers - If they do maybe they'll clean up that mess for us!
Onward roving mobs!
Make those bastards sleep with one eye open.....
Spain simply needs more green jobs!
Swear them all in as riot police - those that don't make the cut can go work in the Apple store.
hopefully they will be smart enough to go the 1%er neighborhood first, the sooner the better.
If you flip the chart upside down, it looks pretty good. Which is my point: EVERYTHING the asshole CB's have tried over the last 4 years has had an opposite effect of their intentions. So it's safe to say that all CB's and banskster policies over the last 4 years have been an abject failure.
When the fed governors sit around joking and jiving do you think any of them ever ask the question of whether they will have to buy everything eventually? As the economy continues to go to shit and consumers begin to realize all their paper holdings are becoming worthless the exit and liquidation will build mass and energy and the fed will be there trying to halt it by buying up everything and anything until they own it all. They must wonder about thet no ? Or is that the plan, to suck in all worldly goods with their shit paper for as long as they can get away with ?
"Or is that the plan, to suck in all worldly goods with their shit paper for as long as they can get away with ?"
Bingo. Who will stop them? Who can match the power of the Beast(ly paper monsters)?
That's not what CNBC is saying. Jimmy Cramer thinks Tiny Tim is a hero. Steve Liesman has sacrificed his journalistic integrity to kiss the Feds ass on a recurring basis.
Six media companies decide what we hear and see - none of those companies have any incentive to tell the whole story.
Spin, spin, spin.
You've made a huge mistake by assuming that LIESman has ever had any integrity to lose.
How do you know that their intentions were as stated? Perhaps they have succeded in their objectives.
That is what people don't understand. They actually think the central banks are trying to fix the problem.
CB's ARE trying to fix the problems. Not our problems, their problems.
Abject failure or total success? Total success. Order out of chaos my friend.
So it's safe to say that all CB's and banskster policies over the last 4 years have been an abject failure.
Actually it's a resounding success.
You just have to understand what the real goal is: Looting people into poverty.
That plan is going great.
You can't sacrifice an entire generation without it coming back to bite you. Kids won't stand for it forever. They will get radicalized.
"Radicalized?"
Try commoditized instead - they'd be commodities on Facebook able to trade "friends" on Zynga and keep lobomotized lives going. As long as they condone their respective fascists goverment as they pillage all over the Arab world for profit and as long as they enjoy fruits of slave work abroad (proverbial iPhones come to mind), the decay of so-called Western civilization ("A good idea," though, Ghandhi said) would continue.
Damn youth is lazy! lol
Intergenerational conflict is scariest.
To unemployment, add that the ones who do have a job, are contributing to public pension schemes benefitting the old of today but which will definately be bust by the time they retire. in other words: If you are young, you are completely fucked up, today and tomorrow.
Advice to any Southern European boy or girl: Get the fuck outta that shithole.
and go where?
Easy: http://www.youtube.com/watch?v=UQ6LGrr8iEg
Wherever there is growth right now: commodity producing countries.
But of course, for that you need some balls and the willingness to work. Something most Europeans have lost.
I'm planning on going there... Silver has to go up first though!
Bottom five have to drop the EU
if there is no hope for tomorrow, what is the opportunity cost of doing something stupid and quite irrational today?
...like electing Obama in 2008?
To state the obvious, there is always hope. People just need to find it for themselves.
Fear is the way the "dark side" wants to control people. I would like to believe that if we do not fear, then we are not under their control. It may be impractical, but isn't it how our minds perceive our situation that determines whether we are captive or freeman? Iron or fiat chains cannot restrain our minds.
But but but Jamie at JPM said we are decoupled, wait for it.......BAHWAAAA HAAAAAAAAAA. Because he is perfectly hedged as are all of the other US Banks (CITI/BAC) Wait for it....BAHWAAAA HAAAAAAAA. Wow that was good for a laugh.
There will soon be no such place as Europe. We are all fucked: http://bit.ly/we3oEE
And why did Bush make the names of counter parties secret as a matter of national security? Ahem! Who wants to see big bank collapse? How ya' gonna get re-election $$$$ from The Squid and TBTF sisters? Gee don't I have a right to know which cannibal bank might be last man standing. Thanks Phil AO Graham, thanks Dubyah. Give it a little longer, and all will be known as banksters pack up and escape to Europe or Argentina, leaving behind whistle clean hard drives. Ron Paul will then appoint an AG to set up extradition proceedings.
And by BTW, how do I post my picture like the rest of youse' guys?
Click on "My Account" top right corner of this page and follow instructions.
Operation shit on all things € has gone full retard.
Why would any European youth want a job?
Bitch won't let you work.
Bitch won't let you leave.
Precisely.
But when this is your worldview:
http://en.wikipedia.org/wiki/Protestant_work_ethic
then it all seems like it's going to hell in a handbasket.
reminded me of a clip I saw on a NZ news show many years ago
The then PM`s of OZ (Hawke) and NZ (Muldoon) were engaged in a `friendly` staged TV debate.
Hawke was lamenting the number of youg, lazy, New Zealanders who went to the beach resorts only to claim OZ
social security. Muldoon just smiled and said `I dont see the problem, what you need to remember is that this is raising
the average IQ of both our populations`
Regarding Spain, I think the youth unemployment is much worse inland, particularly Madrid. The tourist and expat populated Med coast still has pleny of jobs for those willing to do dead end, low paid and menial work. Without hope of something better anger and frustration still rise up. My Sister in Law currently living near Malaga says things are very tense.
"As a young man I used to stand by the shores of Nice
Gazing down upon the lassies with teats
I didn't want a job
All I wanted was knob
And the rest is history to say the least."
Why work when Germany can bail you out?
german maidschenes or dutch or english on these beaches require male devotion from locals; so you gotta work whatever you like to do. No bananas today...if you don't work for it.
to be unemployed in Spain or working overtime in Norway....
When the full-of-vim-and-vinegar youth have nothing to do but sit around and get angry, things rarely turn out well.
Ummm, Tyler? Where's the "America as a reference point" line on the chart, or are you referring to the Euro-Zone rate?
Meant Eurozone. US data courtesy of the BLS is pretty much irrelevant.
Irrelevant = Sanitized , which is probably true for Eurozone data too.
ehmm... no. the history of statistical data collection in the eurozone is not that pristine and perfect, not at all. the perfect example was the european satellite we had to shoot up in order to count olive trees - I'm not joking - so that the Southerners would not claim subsidies for ten times more olive oil production than in reality.
nevertheless, the unimployement figures from Spain are usually too high, historically. we are the "socialist hellhole", don't you forget it, we tend to count every reason to pump more government money into jobs.
different political systems distort the statistics in different ways...
as much as the Spain number scares me, there is a lot of "black economy" in Spain that is not accounted for which would bring that number down (to still ridiculous levels if you think that this is the future of the nation we are talking about)
I heard Spain has an enormously large number of young prostitutes, is that what you mean by black economy?
Meh, that's no different that the USDA, who have created a GIS containing every field in the US, all so that farmers don't cheat on their "no-farm" subsidies.
Well said, though pumping and subsidies are rampant in the US as well. the question is twofold:
1) how much of the subsidiy/intervention/investment goes to real capital production vs pork,
2) how efficient is this state-sponsored development compared to its equivalent in private hands?
Some projects may have to go. Others, like Gallileo, have real commercial and strategic use.
As for the black market, like elsewhere in europe, you must attack corruption and old money.
if the majority of young adults feel they have no hope for progress, you are failing as a state.
The Bureau prefers to call it enhanced. Keep it up and you'll get the rat mask