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Greek Economic Deterioration Accelerates As Q4 GDP Slides By 7%, Unemployment Over 20%
There had been some hopes for Greece following the Q3 GDP number which slowed the decline in the country's economy when it dropped by just 5%, following drops of 8% and 7.3% in Q1 and Q2. These may have to be doused following a report that Q4 GDP came in at a disappointing -7%. As Athensnews reports: "The country's economic slump is headed towards a record annual plunge close to 7 percent in 2011, the fourth consecutive year of a deepening recession. After an official confirmation by the Hellenic Statistical Authority (Elstat) on Tuesday that GDP dropped 7 percent year-on-year in the fourth quarter of 2011, the economy has shrunk by an average of 6.8 percent. The latest quarterly contraction followed a slight slowdown of the depression in the preceding quarter, with GDP shrinking 5 percent due to the customary seasonal surge of tourist revenues in the summer." The full year drop was a record 6.8%, compared to the expected 6% projected in the 2012 budget. No comment there.
Keep in mind that the closer one gets to 0%, the slower the rate of decline gets usually - Newton's law of freefall does not quite apply to Keynesian economics. Regardless, this means that jobs are being lost left and right in this country of 11 million people: "The decline in the last quarter explains the surge in the jobless rate above 20 percent or 1.036 million unemployed in November." Well, at least the Greek labor participation rate is tracking that of the US, as this means that 4 million people oout of 11 work. On the other hand, at least Greece can boast that it has better employment stats than Spain with its 23% Q4 unemployment. In fact, Greece can boast a better industrial number than Germany when December output fell just 2.4% compared to Berlin's 2.7%. Finally don't forget that courtesy of recent riots, the favorable economic impact to local GDP will be massive - after all torching, pillaging and otherwise smashing windows is a Keynesian's wet dream.
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so lets be realistic: 30+% real unemployment in all of western civilization #NWO by design they wrote books 100 yrs ago
the baseline phenomenology is all there
it reeks out from massive sets of data and yet people are still content to go through the detritus of the latest engineered implosion as if, within that rubble, lay answers as to the incipient phenom
#GEC Engineered, all of this is resultant vector analysis at best and we are left to tread water in a post-industrial rubblefield
first rounds on me lads
enough with all this NWO conspiracy shit
+1. Not everything is "designed to fail". Some is just a tragedy of commons. Or created by politicians who pulled the easiest trick in the book - bought voters at the expense of tomorrow.
Maybe Henry Kissinger is a public servant after all! <--- NWO BITCHEZ!
and a 4.6 Earthquake in Greece 15 minutes ago.
Mother Nature is the Gray Swan here, kids.
It's 2012. You should have settled all your fiat, gold and silver issues by now.
Oil $13 dollars in 1998.
9/11 - Iraq - Afghanistan - Iran
Oil is $101 in 2012.
What asshat poo pile is cry babying over too much 'NWO' talk?
Oh, did you hear the latest gossip from the Catholic Church?
memeplex desiderata
mention the owners of the planet and its moon landing and elvis tyme *rolls eyes*
Oh, did you hear the latest gossip from the Catholic Church?
Please don't say that the Catholics elected a black pope... It'll send trav over the edge!
Simmer down Francis. He's talking about the latest Papal white paper:
"A Rosy View of the Holocaust: Six Million Rosicrucians Dead - Jews to Blame"
+10 tomorrow has no franchise (yet), ergo they are not citizens and sure not patriots. bugger them idiots - and there is always a land of tomorrow to exploit
did i say everything is designed to fail?
no. so this is basically a straw-man attack on my statements.
"by design they wrote books 100 yrs ago" - sure...
explain the Spanish-American War, then - the "books" were written after that
Yeah....there's not anything really new about it......it's just WO.
+100 and an AWESOME
ZPBWO=Zombie Ponzi Banker World Order
The "O" part is debatable... Hammer on the ledt side of it a little & it turns into a "D"...
referencing an inhernetly super-complex real world logistical framework
while suggesting that the extant data points are holographic and disconnected from underlying fundamentals is hardly deeserving of the epithet conspiracy theory
but when the national leaders use the term #NWO to refer to PRECISELY THE SAME SERIES OF EVENT STRUCTURE its legit
you wont find any shortage of other inamtes to agree with your very wrong Opinion.
throwing around phraseology like "NWO shit" is like throwing around terms like "DNA shit"
you are consging your own commentary and perspective to the ashbin of history and do not think for a moment that the accolades of other imbeciles is a Proof against something I have not even begun to elaborate upon in any substance...
and whats with this Absurd, out of hand rejection anyways? what exactly is the catalyst for that tendency? why exactly is everyone so quick to police thier fellow inmates?
Papademos McNAIRU, Trilateral Commission member since 98, former Senior Econ at FRS Bank of Boston and ECB towelboy is the Trigger Man but IM a Conspiracy Theorist?
I HAVE A BRIDGE TO THE MOON ID LIKE TO SELL YOU
pinheads content with foreground analysis and being snarky
game, set and match
Courtesy of the IMF, ECB and European commission
Corporations change their name and reverse merge for what reasons?
are we content to throw vegetable soup acronyms at a problem which is systemic globally
IMF, ECB, LTRO, BIS - why throw acronyms at the problem, these are Front Companies for the #NWO Global Banking CARTEL. (cheers man - i get your sentiment 100%)
It's another win for marxism.......BOOM......winning!
Well.....clearly someone out there hates marxism.
Why all the hate?
Most people know the difference between fascism and marxism ... a president spawned by the banking cartel represents the former.
Most people here, perhaps, but not the general population. There is reason why the one half of this country who are intellectually occupied by the republican talking points in the charade of a two party system shout "socialism" or label "marxist" at every turn. It helps to protect the real criminals.
I hope you know that the IMF always operates this way... and I hope you know what the ECB and the EU have tried before... sigh....
ECB isn't the Bb, EU is like tofu, you can add it to the meal for some contrast but it winds up tasting like the rest. So that leaves the IMF. The IMF has been a constant presence in Europe since BW, I wonder why?
-del-
I hope you know what the ECB and the EU have tried before...
Of course they've tried it before.....worked so well.....they're quintupling down on it.
Not particularly creative destruction.
Creative destruction was broken into pieces and outsourced to "communist" China long time ago. It no longer exists in the Western World.
Someone will give them more money....I don´t know why....but someone will..
It's the responsibility of Germans everywhere to pay for the Greeks.
Sorry.....I just bust out laughing trying to get through that spiel.
Not the Germans. Just the German government. Or was it the Greeks who killed off 10% of their population during World War II, had their industry destroyed, their forests burned and so on and so forth? If the Jewish people got their pound of flesh and are still getting more, why should the Greeks forgive AND forget. Or should the Greek government sell its rights to the Jewish people and let them do the collecting? The Germans must admit that they allowed themselves to be badly fooled and controlled by madmen. The price will be paid either by the German government doing the right thing or by karma waiting for the right moment.
Meanwhile in equity land...
http://www.youtube.com/watch?v=EmfE4KAZicY
Monday Monkey lives for? the weekend sir.
http://www.youtube.com/watch?v=EmfE4KAZicY
lol thanks, that was the perfect cherry for this entire chaos sundae
And what ya think will happen to US GDP when the deficit is forced to be cut to 0 because of bondzilla???? The GDP is gonna tank at least 10%+ easy.
Just keep repeating after me, "This is not a depression. This is not a depression. This is not a depression."
Maybe if we all say that enough times, it'll become true.
Come on, Greek generals. Perfect time for coup. A colonel or a major is fine, too.
Everybody's face would be saved by a coup.
A little cup of coup might just hit the spot.....but I really don't think anyone in Greece is willing to really put forth the effort.
Keep the bad news coming!
That way, we'll be sure to see S&P 1500 again. And quite possibly higher.
I'm wondering if the alien space invasion will be coming before or after the Olympics...
Plus don't forget all the midnight oil the politicians burned and oh all that molitov gasoline they burned. The economy is on fire!
Have to wonder what the US numbers would be if reported honestly?
33+% easy real unemployment
Wander over to SGS (Shadow Government Statistics) and you will get a much better idea of what some of the numbers look like ... unmassaged.
endlessly going through data sets generated and massaged by the very people that are killing them
lol, Stockholm Syndrome much?
*stamps feet* we have a monopoly on data sets that are in the public record
*pushes glasses up*
*crowd appluads*
just enjoy your enslavement folks dont listen to me, i wont put two terabyteso f data in this thread and spend 20 years being your professor so im a kook. MWAH! love ya bb!
and they will be sifting through the rubble 20 years later asking the same feckless questions and mocking any honest attempt to provide a codifying synthesis
but hey, enjoy ignoring the preconditions and being snarky, its fun being conned.
I just read on MarketWatch that think tanks with unlimited funding are working on plans to curb world population They are waiting for the results of Greece's austerity measures to see how that turns out before moving ahead. If austerity proves ineffective, negotiations over a controlled nuclear war and pandemic may be in the works as BO is scheduled to meet with China's Kingping the XI. Discussions are to focus on weather patterns and the price of Peruvian residential property.
those articles do not exist, the books do not exist, its all a "Conspiracy Theory" because random people on the internet said so
relax bro
slavery is fun its all good right
Let's cull the worlds population...
You go first!
So in other words this is the eventual outcome of any country who has a lot of debt and those that took risks get bailouts from the taxpayers. Eventually people will earn less than what is needed to survive on. If it's less than what's needed to survive on then that = death. Please, save me with the fishing stories.
Gee, im sure glad I live in the US!!! LMFAO. Yes, all hundreds of millions of us will become hunter gatherers. Surely the deer have repopulated since the Great Depression to a level that will sustain us all. For at least a week.
In other words: No default here. We can't let those cds triggers wipe out our gods. People can starve instead.
No default......serious degrade yes......but no default.
So then using real numbers, Greece is about the same as the US.
yep and its essentially all of the western world and it is by design according to actuary studies mapped out in advance and accelerated by human stupidity
but you will find no shortage of people Not Convinced by Instruments and re-packaged paper economy objects
MEANWHILE, nothing actually wrong with the physical, real world logistics.
the pigs didnt all die, we didnt forget how to make steel, we didnt run out of hydrocarbons.
you act like these are different entities EU, ECB, IMF, BIS, UN, etc. etc.
Childish
very Anton Wilsonian
explaining away design by complexity (when it is Complexity which INSISTS UPON CONSPIRACY)
All of History is Conspiracy, it is All just humans Conspiring to achieve ends.
what about this is so taboo? do you imagine that the mechanisms of global power are like a volcano or the wind?
would you really have us believe theat eels spontaneously emerge from mud?
oh wait, you would.
QE to Infinity and beyond Plebs
one group of special people is allowed to commit crimes and fraud
end of story
call it conspiracy theory all you like morons
is santorini on sale yet?
hey meanwhile WW3, but thats not by design either ;)
this grand illusion that the various entities are autonomous. are people really this stupid? (dont answer that.)
yeah and they firewalling off customer funds too...
sucker born every minute i believe was the saying
it would be good for the greeks to step out of the eurozone.
they get to keep all the euros that were given of borrowed to them, and then they can devaluate their debts away.
the greek economy is being destroyed by the austerity measures as we speak, and they will not recover.
this so called rescue plan was only meant for the fat cats who own the big corporations and the governments.
a shame it is.
Greek unemployment is actually worse than reported. I have been informed by numerous people that their friends and relatives continue to go to work despite not being paid for months, in the hope that their employer's business will recover in order to pay outstanding wages.
Unfortunately the wide divergence of definitions relating to unemployment as well as the interference of statistical spin makes the comparison of unemployment rates almost impossible.
All this hyperinflation is to much to bear. I wish the ECB would stop printing money.....
And The Wurlitzer Plays on ....
Greek industrial production? Isn't that an oxymoron? I guess they do still produce some ships and olive oil.