Wednesday, January 9, 2013

20 Facts About The Collapse Of Europe That Everyone Should Know

The economic implosion of Europe is accelerating.  Even while the mainstream media continues to proclaim that the financial crisis in Europe has been “averted”, the economic statistics that are coming out of Europe just continue to get worse.  Manufacturing activity in Europe has been contracting month after month, the unemployment rate in the eurozone has hit yet another brand new record high, and the official unemployment rates in both Greece and Spain are now much higher than the peak unemployment rate in the United States during the Great Depression of the 1930s.  The economic situation in Europe is far worse than it was a year ago, and it is going to continue to get worse as austerity continues to take a huge toll on the economies of the eurozone. 

It would be hard to understate how bad things have gotten – particularly in southern Europe.  The truth is that most of southern Europe is experiencing a full-blown economic depression right now.  Sadly, most Americans are paying very little attention to what is going on across the Atlantic.  But they should be watching, because this is what happens when nations accumulate too much debt.  The United States has the biggest debt burden of all, and eventually what is happening over in Spain, France, Italy, Portugal and Greece is going to happen over here as well.

The following are 20 facts about the collapse of Europe that everyone should know…

#1 10 Months: Manufacturing activity in both France and Germany has contracted for 10 months in a row.

#2 11.8 Percent: The unemployment rate in the eurozone has now risen to 11.8 percent – a brand new all-time high. Read more....

1 comment:

  1. I predicted the end of the Eurozone last April. There is no way it can continue when one-third of the member countries are in a depression. But the banks and the politicians are desperately trying to kick the can down the road.

    I also think most other countries are in recession (and it's not just the Eurozone, it's us too). There isn't any way out unless the super rich stop taking all the money--with so many people going broke they can't afford to keep a consumer economy going.


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