Europe’s Scariest Chart Hits Peak Scariness Levels, And Rising
Submitted by Tyler Durden on 11/08/2012 08:48 -0500
Things are rather unsurprisingly going from worse to worserer in Europe. Perhaps it is the anecdotal evidence we see in the now weekly riot-cams from Spain and Greece but just as we warned over a year ago, the truly scariest chart in Europe remains that of youth unemployment. The correlation (and causation) that runs from extreme levels of youth unemployment to general social unrest and anarchy is stunning throughout time (as we noted here and here). With Greek ‘youth’ unemployment jumping to a disheartening 58% (for August) – by far its highest ever – and Spain rising inexorably at 54.2%, the under-25 populations in these nations is truly set to burst (with overall unemployment rates of 25.4% and 25.5% respectively). Euro-zone youth unemployment overall has risen to 23.3% and while Greece jumped the most, Italy was close behind with a 1.2ppt rise to 35.1%. We are sure the austerity voted for last night by the politicians will ‘help’ – someone…
Data: Bloomberg and Greek Statistics Office
Pirate Jo says:
Looks like the Greek and Spanish kids should move to Germany.
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8th November 2012 at 10:13 am
Celtic Tiger says:
Forget Germany. They are merely one step behind the rest of Europe. They still have a huge welfare and regulatory state, and negative demographics. But they are not very friendly to foreign immigrants.
For the entire last decade, many of the best and brightest young people have been fleeing mainland Europe to the UK (400,000 French in London), US, Canada, Australia, Brazil, and even east Asia.
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8th November 2012 at 10:37 am
Ron says:
Just think how theyre parents feel with the kids not leaving home.And the parents are unemployed to.
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8th November 2012 at 10:51 am
sangell says:
It is telling that outside of a few European nations or those under ‘troika’ rule, protecting the middle aged comfortably employed public sector and those fortunate enough to work for the biggest corporations, takes precedence over employing the few young people they have. How in the hell do they expect their welfare states to continue when they are wasting the lives of their young who will have to support all those programs?
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8th November 2012 at 10:54 am
Eddie says:
I’ll worry more when they start setting themselves on fire. There has been only one self immolation in Greece in recent years and that was not related to the Euro debacle or austerity.
None in Spain.
One in Portugal. I’ll keep a close eye on Portugal.
Not to be callous, but I think it hasn’t gotten to the stage of hunger and absolute despair yet.
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8th November 2012 at 10:57 am
TeresaE says:
Eddie, what are you basing your beliefs on?
Here are the facts: it isn’t just the US that is shutting down the Free Press, many would argue that the UK going after Murdoch has more to do with shutting up the press, then alleged “privacy violations” (and when I said that in my head, I heard the English pronunciation of priv-ecy, not the American pri-vacy, anyway)
The powers that be are shutting down reporting and dissent worldwide. Not just here.
Zerohedge has a few contributors that either live in, work in, visit in, or have good friends/family all over Europe. There reporting is that things are MUCH worse than we average Honey-Bo-Bo Americans are told.
I guess the moral to my story is, just because we don’t hear the tree falling in the forest, doesn’t mean it isn’t lying dying on its side with its roots blowing in the breeze.
Used to be we should only believe 1/2 or what we hear and see, now I believe nothing presented to me unless I can substantiate it seven ways from Sunday.
And omissions, are still lies, they have just become publicly accepted/forgiven ones.
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8th November 2012 at 11:57 am
Eddie says:
My daughter lived in Spain year before last, so I’m not without some personal knowledge, not that it hasn’t gotten worse, because I agree it has.
But like the U.S., the unemployment is not making people starve like they did in the Great Depression. It’s a social democracy with lots of black market activity. It’s not an Arab Spring situation. It might turn into one, but it hasn’t yet.
ZH is over the top on a lot of things.
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8th November 2012 at 12:30 pm
Hollow man says:
I cannot post things but Ron Paul stating the obvious.
http://p.washingtontimes.com/blog/inside-politics/2012/nov/8/ron-paul-election-shows-us-far-gone/
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8th November 2012 at 1:07 pm
Hollow man says:
RP knew that the game was up when he ran for prez. That run was a loyal American trying to do what he could. Thats why he did not run without an assicoation to a party. He needed help to get the job done, it was not there. Hope he gets to enjoy life a little and is dead before the collapse. I figure it would pain him greatly to witness it. To Ron Paul thanks for your service and princpled approach to govermen. We will die as a country because we turned from men and women like him.
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8th November 2012 at 1:36 pm
OF says:
Pirate Jo says:
Looks like the Greek and Spanish kids should move to Germany.
They do. They do already….
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8th November 2012 at 2:13 pm
ecliptix543 says:
Well said, hollow man. I’d like to see Ron Paul visit either Jon Stewart or preferably, Colbert sometime soon. But hey – with Obama’s rainbow-shitting unicorns just around the corner, I might get my wish of setting up a poker night with Paul, George Carlin, and the Judge.
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8th November 2012 at 1:27 am