Spain's unemployment rate has remained at 17.9% in the third quarter, the highest in the European Union.
The number of jobless now stands at 4.1 million, the country's statistics agency said.
The Spanish unemployment rate had risen for the previous eight quarters after its construction and debt-fuelled economic boom ended suddenly.
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Britain Fails to Exit Recession/Depression
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Canadian Public Do NOT Believe MEDIA Recovery Lies
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NY TIMES: LINK
Nearly half a million people 65 and older want to work but cannot find a job, this group’s highest unemployment level since the Great Depression.
In fact, there are more Americans 65 and older in the job market today than at any time in history, 6.6 million, compared with 4.1 million in 2001."
Yeah but isn't the real story the number of young people ages 16 to 20 that can't get any work? I mean 65 and olders have social security, they have some income but the kids and young adults have ZILCH and they're far more prone to ill behavior to get 'things' when they're broke, can we agree on that?
ReplyDeleteSo really, isn't that the bigger story?
The 20% figure is correct because that's what it is if we measure by the same standard they where using in the Great Depression.
ReplyDeleteBecause Bad Boy Billy Bob Clinton was sending all our jobs to china they re-engineered the unemployment rate to reflect a much lower rate of unemployment so they could conceal his bad.
Bushy boy did even worse by signing the remaining jobs in Tech that CLinton was touting as the replacement for the manufacturing jobs over to Plakistan and India.
The housing bubble was directly supporting around 30% of the population, but indirectly more like 60%. So now..guess what?
Real unemployment in the USA is going to be like 60% by the end of 2010.
Now you know why they where building all those 'FEMA camps' . Wake up and smell the goddam cyanide already!
Oh well at least I lived 2/3rds of my life in relative happiness. I really do feel for the young kids and 20-somethings. They will know nothing but poverty and tyranny.
ReplyDeleteApril 29, 1992.
ReplyDeleteIf you can't recall that date, it was day-one of the LA Riots. 53 dead, 2,000+ injured. Billions of dollars lost to looting, fires, gun shots and violence. The streets of LA were covered with cops, many from cities outside of LA County. Add to that the Army, Marines and the California National Guard. There wern't enough fire trucks and crews available to fight the fires all over the city. One fireman was shot on the way to a fire. After that, the cops had to secure the area, before the fire department could get to work.
It all started when the Rodney King cops were found not guilty of police brutality.
Perhaps we can say that Damion Williams set off the riot, once he pulled Reggy Denny out of his truck and fractured his skull in 91 places.
I was a cop in San Bernardino County. I remember it well.
The riot lasted six days.
Things are NOT going well in California. Middle class Americans are getting fed up with the rising unemployment. I have been out of work for 14 months. Many are blaming the illegal immigrants from Mexico, who depress wages and the communities they live in. The stress bubble is getting bigger and very soon it will pop.
Will a frustrated middle class American "go postal" and kill or injure an illegal immigrant looking for a day-labor job? Will another family be killed by an illegal immigrant, drunk driver? Will that start the fuse that won't burn out untill all hell breaks loose?
I have an elderly neighbor, he has no money, he is living off his credit card, with no ability to pay the balance. He is a frustrated old guy with a 12 gage shotgun in his closet. That is a bad combination!
The kids in the 18+ year group in my area have no jobs and no future to look forward to. They have really short fuses!
If a nation wide version of the LA Riots were to break out, there would not be enough cops, or military to stop it.
It's just not fun any more...