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Europe's Second Scariest Chart
The unemployment rate across the 17-nation euro-zone reached its highest level on record (22 years) at 11.2% and becomes Europe's second scariest chart. The silver medal in scary factor is quite an accomplishment with parabolic TARGET2 exposures and plunging core short-term yields but the gold medal holder remains the extreme levels of youth unemployment that remain in the periphery. It would appear that Europe, in its haste to follow the lead of the US in cost-cutting and blood-letting amid a significant depression recession that clearly CEOs do not believe wil be short-lived, is seeing "Companies generally are under serious pressure to keep their labor forces as tight as possible to contain their costs in the face of the current limited demand, strong competition and worrying and uncertain growth outlook,” and as Reuters points out from IHS's Howard Archer, "there looks to be a very real danger that the euro-zone unemployment rate could reach 12 percent in 2013."
May's unemployment was revised up from 10.1% to 11.2% as even glorious employer-uber-alles Germany saw the ranks of the unemployed swell. With economic confidence surveys plunging and manufacturer's employment expectations dropping, we suspect the gold medal youth unemployment - with all its social unrest fire-starting angst - will be pressed hard by the breadth of unemployment across the dis-union.
Euro-17 Unemployment Rate
Youth Unemployment Rates:
Chart: Bloomberg
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only 25% of Americans btw 16-19 are employed. 75% are not. Tis why they are not driving cars like they used to.
It's becoming clear to all but the most ignorant populists that decisions simply have to be made by the European commission and NOT the member states. The member states hav shown themselves to be incapable of civil discourse, and have created a childish playground social dynamic. Germany is the greedy bully that refuses to share, whereas other nation states choose to engage in childish name calling rather than uniting against the German bully to get a fair deal. President Herman Van Rompuy and Commissioner Barroso are the teachers trying desperately to control the classroom and educate these immature children.
Come on. I know you can do better than that.
Another dry spell?
Yea I mean not even one mention of how it's all libertarians' fault. Down vote for lack of effort.
With central banks about to go balls out, or their proxy in the case of the ECB, it's probably time to go long Europe and EM's.
At some point you hit bottom. 12% unemployment is getting there!
Best of luck to you.
Do let us know when you decide to sell.
I might be looking to buy.
In the long run, markets will recover right? Just print until then.
it's Europe, there's no Libertarians there :D
Ignorant is thinking that any type of global governance, even on a smaller scale (a.k.a. EU), could possibly work. Just look what has happened in the US when the Fed grows beyond what is necessary. Governance needs to be localized whenever possible.
Unfortunately, tearing apart the European experiment is going to be really painful.
That there is some brilliant trolling.
this is of course ironic.
even a banker can not be that stupid:)
+1 for making me laugh real hard.
The only thing you missed, Germany did not build it's country, everyone else in the EZ made it for them.
Thank You MDB, you always put a smile on my face.
Cc.
Funny that and just how does the UNELECTED European Commission come into being ?
The European Commission CAUSED the problems buit it is spending $500 million on a new HQ in Luxembourg Konrad Adenauer Building so that's fine.
You might as well say National Socialism is the answer because it at least represents the People who live in these countries rather than Abstract Marxist Utopianism. You could ask where these Politicians were in 1968
Voting is irrelevant considering there is no right to form a government anyway.
It's all a con.
if not for the Barroso comment I could have given this one a thumbs up DESPITE knowing I'm encouraging a troublemaker.
I never understood "youth employment" of any age below 18 to be anything other than "child labor".
Is being a student considered "youth unemployment"?
Started working at 12, because I wanted more, I was not child labor forced to work. I made the choice to have have extra money that my parents would not provide, as they believed that I should earn the 'more' in my life.
My Parents, and Grandparents grew up working on the homestead, they are, and were some of the most productive people in their community, as they learned the value of their labor at a very early stage in life.
Malikai, you should try to understand what youth emeployment means to others before slapping some 'progressive political label' on it.
Cc.
I do understand that. I was also making money, first by babysitting at the age of 10, then working at a catering company from 12 through various jobs while going to school until I settled on a career at 18 and began to educate and gain my experience in that.
Perhaps my context should be cleared up a bit.
I just don't understand why it is considered "unemployed" when a kid doesn't work. In our "progressive" society, "kids" are supposed to be in school until at least 18, right? (nevermind the question about whether they actually learn anything or not) The 'youth unemployed' statistic doesn't make sense in the current day and age. Also, are these 17 year olds collecting unemployment. I'm bothered because maybe I could have just taken unemployment checks when I was 12.
technically, I think you are correct. under 18 (in the US) should be in school, thus not counted as unemployed. speaking in terms of sociology in today's iGadget world, US "teens" who do not have income to provide them these things (if their parents cannot or will not provide) will use their social media and create a firestorm of spoiled rebellion so that's why it's tracked. rebellions ususally start from disenfranchised (idealistic) youth.
What do mean? You had less money than you had ideas what to spend it on?
Head's up;
http://www.snb.ch/ext/stats/balsnb/pdf/deen/A3_2_Devisenanlagen_der_SNB....
And the magic number is 59.7 :)
I think fat assed youths in the US think being on twitter and facebook is actually employment!
"Nah see, Ive got this plan to start this website, with movie clips of nudity so you don't have to watch the whole movie to see a celebrity's tit..."
Don't forget the number of gruelling hours they spend levelling up characters in their favorite MMORPG. Surely that counts for something....other than the Type II Diabetes which has reached epidemic proportions in our youth.
If they count the unemployed the way they do in the U.S. it means they are really at 25-30% unemployment.
I gotta hurry before someone else takes the best corner spot for the morning panhandle "Job".
Once upon a time you could start wars to solve the unmployment problem...
But over the last 50 years, Europe has outsourced it's defense to the United States & the all the US needs anymore are drones, button pushers, & cooks (who serve for a few years & then want benefits)... Meanwhile, assembly lines have been mechanized & the 'slave' type labor is outsourced to Chindia (who outsources it themselves)...
There must be an 'Illuminati Playing Card' that deals with this conundrum... (Here's the deck ~ look for yourselves & tell me what you come up with)...
http://s1057.photobucket.com/albums/t393/luna_rabbit/Illuminati%20Card%20Game/?albumview=slideshow
There's supposed to be a more accurate second edition around, but the release has been cancelled.
War can be organized in a rather short amount of time.
Germany was able to go from a crippled, debt ridden industrial economy under foreign control to conqueror of a continent in what, 20 years? That's the blink of an eye in historical timeframes.
For wars to be effective in an overconsumption problem, it has to eliminate big consumers.
The deal is such it can not happen. Overconsumers are too strong to be reduced through wars by light consumers or non consumers.
War can not work.
Nuclear war would solve that pesky overconsumption problem.
It might save the whales and polar bears too.
See? Win/Win!
Oh look, there's Paul Krugman playing the "alien abduction" card!
Real unemployment US/EU is 20% at least....enough with the charade.
In my 15 years at my job I have never had so many ex-customers call to tell me their company is going under soon and they are starting to look for a new job. This shit is bad. Our budgets are capped now, we are not hiring anything. Waiting for my number to be pulled so then my back up plans start rolling.
I met a business owner this last Sunday. He lost his job 10 years ago and no one would hire him. So he opened his own business. He is losing a couple thousand $$$ a month keeping the doors open. That conversation really creeped me out...
War: What's It Good For?
Unemployment.
Lots of young people that are employable as drone fodder or virtual slaves for the state as "security". Either way the population will be reduced by war or gulags.
This is demographics. The ONLY way this changes is/when the over 50 crowd start dying in massive numbers. OR, government makes retirement very very attractive.
...and then there's always 'Carousel'
~~~
http://www.youtube.com/watch?v=LSUAAKFLoL0
How so?
Work is a function of resources.
If the 50 crowd deplete enough resources (and there are US citizens among them, maybe even, the majority of the 50 crowd is US citizens), then the capacity of the environment to support a certain level of work will be diminished accordingly, leaving the under 50 crowd to live in a world that can not support their capacity to work.
The more an environment goes toward depletion, the less work it will allow.
The way it is.
US world order.
AnAnonymous said:
Made me laugh. Even as the last vestigial remnants of cerebral activity in the AnAnonymous cranial environment ossify and shrivel toward depletion, he gets more and more work from the Chinese Citizenism Ministry of Truth.
The way it is.
Chinese citizenism roadside odor.
Quiet Start For Markets Ahead Of The Fed
http://www.traddr.com/video/quiet-start-for-markets-ahead-of-the-fed
SHORT SHORT SHORT EUROPEAN INDEXES
Regards from Kitzbuhel
*Peugeot is in default
can't make a souffle without breaking a few eggs.
If we print enough money we can feed the vegans.
Hmmm I wonder what TPTB will do with all these young people running around with nothing to do. I'm sure they have a plan in their devious minds.
Issue those youngins EBT cards. Those youngins can amuse themselves.
Discover an al Qaeda base in a nearby star system and send the young to fight them.
FOLLOW THE YELLOW BRICK ROAD...
my fave chart, should it ever be presented, would be total debt (student loans, credit cards, car loans, etc) for college grads, making less than 25K.
For every scary chart shown, Jesus kills a puppy. But I would love to see that one.
short puppies
For every scary chart shown, Jesus breaks up a gay marriage.
<<to follow the lead of the US in cost-cutting>>
You're kidding about this, right? Are you referrring to the $65 Billion Cali Monorail 'cut' or the GM 6% salary increase....or the Illinois pension fund deficits?
Illinois Income Tax Increase: Legislature Approves 66% Tax Hikehttp://www.huffingtonpost.com/2011/01/12/illinois-income-tax-increase_n_...
I'm sure this will end well for Illinois. The last major business standing will be food stamps distribution.
Up, up and away. These bankers have no clue.
Bell helicopter is a major employer in my area and a good friend is an AMP mechanic there. They have been working 12x 6 for at least a year. Apparently they were just asked to start working 14s this week. Needless to say they are all burned out an looking for jobs. Bell won't hire more mechanics because of the issue in the article. So my friends with decent pay hate their jobs for being overworked. My unemployed friends hate everything because they have no money. I hate everything just because I have always hated everything and can't stop now.
National mood is great! Thanks Ben Bernanke! You saved the stock market at the expense of everything! Drinks all around! Bravo! Well done fuckhead!
That story is replaying over and over all over america. People being layed off only to be rehired as a contract temp.
Most are overworked but too scared to move and lose seniority or get hired 3 weeks before some unintended layoffs.
Zombified people staggering all over, too tired and too scared to do anything.
pods
And the root cause is?
Tyler, is this only counting the "U1" employment numbers?
Charts than really don't mean anything anymore. Scary chart after scarier chart hasn't done anything to correct this farce. Apple already made back its post earnings drop, plus some. With the bulk of the gain coming from pre-market buys, $23 to be precise.
The rationale is the new leaks of the iPhone5 and rumors of the iPad mini. Just like an ECB central banker, all Apple has to do is talk to send stocks soaring. If you've actually seen the leaked iPhone5, it is one ugly phone. It completely lacks Apple's typical design language, and the docking pin change has been confirmed, completely obsolescing every iPhone accessory ever made. Although adapters will be made, it doesn't guarantee that the phone will fit in the docks with the adapter.
The iPhone5 seems to be an experiment to see how bad of a product Apple can make and still get millions of people to buy it, because it is Apple. The ultimate hubris moment for the company.
11.2%? So...11.2% Squared?
http://silvervigilante.com
Osbourne (UK Chancellor) managed to cut unemployment while growth shrank to ZERO! If he can do it so can the others...unless the numbers were fudged... but I would be shocked if they did that O_o
Fudged as always.... UK only measures those eligible to claim Benefit
Neo-Liberal policies once worked really well for the world's youth from 1998-2005.
But now it is hitting a bubble.....like everything else.
This will all be fixed once the globe is convert to marxism. /s
And a Euro still costs $1.22 US. Not sure how long this will be the case.
http://bullandbearmash.com/chart/usd-index-weekly-july-27-2012/
US Dollar poised to move higher.
This only signals something: the reinforcement of the new colonization wave as it was triggered by US citizens.
US citizenism provides with solutions to cope with that too much of people and that is pouring it onto a third nation.
This is how it works.
Look at the under 25 unemployment rates, particularly in Greece and Spain (over 50%!!!!!)
http://confoundedinterest.wordpress.com/2012/07/31/schauble-says-nein-to...
Does anyone here know if the EU fudges a U3-type rate in the same way our own BLS lies about it, i.e., by ignoring the delta in the labor force participation rate?
Is there a European version of John Williams ShadowStats.com? And would the real rate be 25%+ ?
nope. though, in fairness, the national statistics are reviewed and challenged by the EU. there was this long, long and wierd fight about the Spaniards totally overstating several items, including jobless and olive trees. one of the solutions was a satellite to count olive trees, that of course found out that the Italians and Greeks were overstating olive trees, too.
we should have spent some money on squid warning systems, though
I automagically add 10% when I hear an unemployment rate these days.
The City of Man
http://shutupnsing.wordpress.com/2012/07/31/the-city-of-man/
If the official rate is 11%, then the real rate is at least 25%.
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