Monday, July 2, 2012

As the Eurozone Crashes: Unemployment Hits New Record High

Unemployment in the 17-country euro currency bloc hit another record in May.

 The highest unemployment rate across the eurozone was recorded in Spain, where 24.6% of people were out of work in May.

Even more dramatically, 52.1% of the country's youth were unemployed. Greece's youth unemployment rate also stands at 52.1% at last count in March.


  1. "But the story you hear all the time — of a stagnant economy in which high taxes and generous social benefits have undermined incentives, stalling growth and innovation — bears little resemblance to the surprisingly positive facts. The real lesson from Europe is actually the opposite of what conservatives claim: Europe is an economic success, and that success shows that social democracy works."-

    -Paul Krugman, Jan 10,2010

    1. LOL

      No silly, don't you get it? If Europe goes into the tank, then it's because Europe was European enough.

    2. I wish that Eurocentric elitists like Krugman would do us a favor and emigrate to their promised land to enjoy the fruits of their utopia first hand. I know I would do just fine if I didn't have to read anything from that statist asshat for the rest of my life. Of course, we could see him off to Euroweenie land with some tar and feathers in the grand American tradition.

  2. Everything is proceeding according to plan. Desperate times (and people) call for desparate measures. New World Order coming to your neighborhood soon.

  3. A good strategy to (further) humiliate and delegitimize Krugman would be to simply keep pasting his own quotes in the comments section of his articles.