Posted on 05/06/2013 2:23:03 PM PDT by blam
Edited on 05/06/2013 3:34:24 PM PDT by Admin Moderator. [history]
The Worst Unemployment Crisis In Modern History Is Unfolding Right Now
Matthew Boesler
May 6, 2013, 1:59 PM
"Jobless. Help me. Thanks."
At 27.2%, Spain is suffering the worst unemployment rate in modern history.
Spain is tied with Greece, and is worse than the approximately 25% unemployment rate that the U.S. saw during The Great Depression.
The causes, by now, are familiar — the end of a massive, bubble-fueled construction boom in 2008 led to spiraling unemployment and a deep recession, wreaking havoc on the Spanish economy.
And although the country managed to return to marginally positive economic growth in 2010 and 2011, it has since slipped back into recession, and the outlook isn't good.
Unlike the Spanish growth trajectory, the rise in Spanish unemployment since 2008 has been incredibly consistent. Each new statistical release bears the terrible news that more Spaniards have joined the ranks of the unemployed.
The problem is compounded by the fact that Spanish businesses are closing their doors at a record pace. In the first quarter of 2013, 2,564 companies filed for bankruptcy, up 45% from 2012.
And while much attention is paid to the headline unemployment numbers — especially for youths, 57% of whom are now jobless — statistics that give a bit more of a glimpse of how life has changed in Spain since the crisis began are much more revealing.
For most, no job means no income — and in many cases, no income means no food.
According to the Spanish Red Cross' Bulletin on Social Vulnerability, 26% of Spaniards can't afford to put a meal with protein on the table even three times a week, and 43% percent can't afford to heat their homes in the winter months.
That is, if they still have their homes
(snip)
Coming to a country here, soon.
Maybe Farage was right about violent uprising.
Can’t have a proper “beneficial crisis” without creating the threat first.
I thought Socialism cures everything?
Wow, he seems enterprising.
KILLED_THE_GOOSE_THAT_LAYS_THE_GOLDEN_EGGS_PING!
Probably import a lot.
Well the good news is they have lots of windmills
we would be officially much higher if they were not rigging the numbers.
No, no, no, no - our news media are telling us that the worst is over!
Obama fixed this by turning four fish into four million.
I’m not an expert in Spain. What kind of economic policies did they have?
doesn't say what he does/please hire me, just give me money... prolly unemployed government teat sucker, feh
They were. Now their industries are devastated and they are too poor to buy anything. Their trade deficit is almost gone, but too late.
Same this is happening to us. We are at 23% unemployment (Shadowstats.com). Numerous industries decimated. No will to address the real problem. Blaming things that work and help us like the Federal Reserve.
A dozen years ago, Spain had a right of center government that was in the process of instituting economic policies that had the country primed for growth. Spain was also a strong ally of the US after 9/11. Then, the Madrid bombings occurred just before the election. The government was posed to win, but the Socialists used the bombings..and the fear of future AlQeda attacks, to eke out a narrow victory. They immediately started to do what leftists always do, tax and spend, spend and tax, and now you see the results...
Click on the image to see the raw data on the BLS.gov homepage.
It does.
They just need more of it.
Socialism. Spending cures everything. The usual crapola.
Recovery summer!
Part V!
(BHO and his cronies have recovered quite nicely! Fly around the country for two vacations per month in a fleet of government subsidized jets with a 1000 man entourage and things seem rosy indeed!)
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