Greece (and Europe) - A calamity is at hand

[jetstream23]

It's been ugly, really ugly. But...it's getting even worse.

El-Erian: Really Depressing Numbers Out of Greece
November 8, 2012

We should feel a mix of great sadness and heightened concern upon seeing the latest unemployment numbers out of Greece.

According to the data released today, the official unemployment rate rose to a stunning 25.4% in August, setting a new record. More alarming, the jobless rate for 15- to 24-year-olds is 58% – 58%! And there is reason to believe future employment reports will be even worse.

This is a distressingly sad situation.

While the informal sector can alleviate some of the pressure, it provides only limited relief given the scale and scope of the country’s enormous unemployment crisis – one that speaks to widespread misery while suggesting a high probability of a “lost decade” for Greece (we are already three years into the country’s crisis) AND a “lost generation.”

The fabric of any society risks enormous tearing if such joblessness persists. Already, Greece is subject to waves of social unrest, some of which have been quite violent. Only yesterday, TV screens were full of images of rioting citizens in the streets of Athens.

No wonder Greek popular rejection is at extremes not seen before in recent European history; and it is encompassing economic, financial, political and social dimensions.

Some observers even believe that we are close to the point where the Greek government could lose control of the country’s management. And as the experiences of Egypt and Tunisia have shown, do not underestimate what a grass root youth movement can achieve – especially with social media greatly facilitating large-scale mobilization and coordination.

In view of the harmful consequences for so many people persisting for so long, I would absolutely love to find some hopeful aspects to the Greek numbers. And I have tried really hard.

Yet looking closely at the detailed data and what Greece and its European neighbors are doing about them, it is hard to be positive. And my deep mix of sadness and concern is not helped by the fact that Greece, while certainly an extreme case, is not the only European country with a severe joblessness problem. Upwardly trending youth unemployment rates have already gone above 50% in Spain, and 35% in both Italy and Portugal.

This Greek tragedy looks certain to be with us for a long time to come.

http://www.cnbc.com/id/49748004

[DDNYjets]

Our blueprint.

[WestCoastOffensive]

Originally Posted by DDNYjets

Our blueprint.

No; do you want to re-phrase that?

[Jungle Shift Jet]

Originally Posted by WestCoastOffensive

No; do you want to re-phrase that?

Σχέδιό μας

[WestCoastOffensive]

Originally Posted by Jungle Shift Jet

Σχέδιό μας

Oh, my.

[jetstream23]

Total mess over there. The government grew and tried to be everything to everyone, then couldn't be! So they raised taxes and tried to reduce pensions. Now they've got riots and 50% unemployment.

[Frequent Flyer]

Originally Posted by jetstream23

Total mess over there. The government grew and tried to be everything to everyone, then couldn't be! So they raised taxes and tried to reduce pensions. Now they've got riots and 50% unemployment.

Greece is an unarmed population.

We're not. It's gonna be fun the next few years!



Weeeee! Weeeeeeeeeeeee!!!

[AlbanyJet]

Dystopian Greece = Soon to be dystopia America under President Barack Obama-Ellsworth Toohey.

[SafetyBlitz]

I love how Greece is put up as the model for a greater degree of socialism by Conservatives.

How about Germany, Sweden, Norway, Denmark, The Netherlands?

[Warfish]

Originally Posted by SafetyBlitz

I love how Greece is put up as the model for a greater degree of socialism by Conservatives.

How about Germany, Sweden, Norway, Denmark, The Netherlands?

All Nordic Nations with much much less diversity, vastly less land and less population, all of which have a long history of collectivism/dictatorship and very short (or no) histories with American-style indivdual freedoms and rights.

Converting the United States to their systems is no simple task, nor any guaranteed success. Sweden is not the United States. It's barely New York.

So here is a suggestion. Socialize New York. The whole State. Create the perfect system, within our Constitution of course, that is what you want. Collectivise everything you want within the state. (D) dominates that state, it could be done. No need to wait for the rest of us.

Convert New York, make it Sweden, and prove your ideas can be successful here, on that level.

Then we can talk nationally.