Click to enlarge:
Many of Europe’s
Economies Are
Weakening . . .
. . . and Their Banks,
Which Dwarf Their
Economies, Are Hurting.
With Many Countries
Mired in Debt . . .
. . . and So Many People
Out of Work . . .
. . . Hundreds of Billions
In Aid Has Come Up Short.
˜˜˜
Source: NYT
Category: Economy
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
And that all adds up to a bullish breakout in gold?
This what happens when you give journalists the ability to make fancy bubble graphs without forcing them to stop and consider whether or not that’s really the best way to convey the information.
This what happens when you give journalists the ability to make fancy bubble graphs without forcing them to stop and consider whether or not that’s really the best way to convey the information.
The real problem in Greece and Spain is the Great Depression unemployment numbers. Given full employment there, their governments would have no problem raising tax money to pay their national debts. A country without jobs is just a mob of starving homeless people. Throwing more people out of work won’t solve their problems no matter what the Austrian School says. It’s more like throwing gasoline on a fire.
Great graphic Barry.
Scary implications IMO for the next few months, years, decades etc..
It would be interesting to see this information portrayed over time (maybe the last 10 years?). Best guess is that the various curves are heading down at an alarming rate.
Thanks, and have a good weekend.
And the logical conclusion?
War.
The financial dislocations of the early 20th Century were not abberations. They were – and are – inherent characteristics of human nature and the capital markets.
Mankind’s “second oldest profession” has been on a momentary hiatus. The herd in Greece and Spain and elsewhere will gorw tired of austerity imposed by elite classes, and from there, off we go…
.
you know, with *Thinking like..
“…The real problem in Greece and Spain is the Great Depression unemployment numbers. Given full employment there, their governments would have no problem raising tax money to pay their national debts… Throwing more people out of work won’t solve their problems no matter what the Austrian School says. It’s more like throwing gasoline on a fire…”
I’m convinced that ‘We’d’ be better off Smoking Crack..
rather, ‘We’ could examine some of the Premises..(?)
“…Given full employment there, their governments would have no problem raising tax money to pay their national debts…”
and, then, a few Questions?
how exactly, should that (the above) be a “Given”?
and, with..”…their governments would have no problem raising tax money to pay their national debts…”
Pay? their Debts? to Whom?
LSS: aren’t All of these ‘Nations’ beholden to (Private) Central Banks?
or, more Elementarily, each, and Every, of these ‘Nations’ (including ‘our’ Own) have a (Private) Central Bank that “lends” the ‘National’ Currency into existence, at Interest, yes?
isn’t that, itself, a, more, telling Issue/Symptom that should be discussed/dealt with?
—”We” hear long discursions about ~”the Federal Reserve was a major buyer at the, recent, Treasury Auction..”
really? anyone See the/that Transaction?
What? exactly. Was Traded?
Maybe, you know, ‘For a Change’, We should wonder. These Topics, and many of their Answers, are not Foreign (to those with any Sense of History)..
Or, better? it’s John Law, John Bull, a new Tyranny-continued-like the ‘Old’ one that, once, ‘We’ defeated..
Mark Hoffer has good points. The banks are in control. They gain power with every dollar the Fed, ECB and other central banks create and loan to the megabanks at 0% to allow the megabanks to loan to the governments at market. Aside from a grand gift, this has created unprecedented power. There is no requirement that the megabanks buy sovereign bonds with that free money. They can say to a head of state “play it our way or we won’t buy your bonds, and you will be out of office. Just look at Greece (the dress rehearsal) or Italy (the first Act).”
Second, a comment on the data. Any responsible analysis of these countries should take into account the private debts of the citizens. What counts is a country’s ability to carry its debt service and that measure should count all of it. Any responsible analysis should also include England. It’s not part of the EU, true, but it is a slow-moving train wreck with strong influence on events. England has sold its soul to the megabanks to keep them in London. They will do the kleptobankers’ bidding.
technology & mechanization has removed the need for muscles – but for the 1 muscle (1stist organ) the brain
our runup to allow more births over deaths and our bent towards political correctness has us (human race) in a quandary
so ditto hammers war point* – not that that is where I would like to go – but its the board solution
all my life been thinking something other** than FMCitBPtP – but alas
all that above is the simplist form of governance .. and for the embedded booyah
codas:
* – increase Demand for rebuild’g & stuff / lessen cheap labor / reduce demand on food & energy / align spirits
** – merit pay*** for Heroism in performing dirty & brainy jobs / NOT the Brains of Skating
*** – NOT Pay / but STUFF sorta Socialist Utopianist
Including the Benelux economies in all the analyses would be helpful. And juxtaposing the US would be interesting too…then we’d be scared by the similarities?
To those who fear war because of the depicted “plight”, have no worry: a) democracies do not wage war against each other, b) but riots in the streets are likely to intensify, c) however, there arent enough young people around anymore and old farts need frequent pee breaks, that doesn’t work well in public squares, d) government handouts may go on and actually “work” for much longer than pundits suspect.
It’s refreshing to see that leadership incompetence is both universal, and consistent.
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There is no relation to Debt and Unemployment in Europe, look at Spain and Italy, 79% with 24% vs. 123% with 10% . Only fear of debt causes actions that create unemployment. If Romney becomes President, then debt will be a wonderfull thing again in the Beltway MindSet, just as in Reagan’s and Junior’s times.