Wednesday, January 9, 2013

20 Facts About The Collapse Of Europe That Everyone Should Know

Michael Snyder, Contributor
Activist Post

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.


#3 17 Months: In November, Italy experienced the sharpest decline in retail sales that it had experienced in 17 months.

#4 20 Months: Manufacturing activity in Spain has contracted for 20 months in a row.

#5 20 Percent: It is estimated that bad loans now make up approximately 20 percent of all domestic loans in the Greek banking system at this point.

#6 22 Percent: A whopping 22 percent of the entire population of Ireland lives in jobless households.

#7 26 Percent: The unemployment rate in Greece is now 26 percent.  A year ago it was only 18.9 percent.

#8 26.6 Percent: The unemployment rate in Spain has risen to an astounding 26.6 percent.

#9 27.0 Percent: The unemployment rate for workers under the age of 25 in Cyprus.  Back in 2008, this number was well below 10 percent.

#10 28 Percent: Sales of French-made vehicles in November were down 28 percent compared to a year earlier.

#11 36 Percent: Today, the poverty rate in Greece is 36 percent.  Back in 2009 it was only about 20 percent.

#12 37.1 Percent: The unemployment rate for workers under the age of 25 in Italy - a brand new all-time high. 

#13 44 Percent: An astounding 44 percent of the entire population of Bulgaria is facing "severe material deprivation".

#14 56.5 Percent: The unemployment rate for workers under the age of 25 in Spain - a brand new all-time high.

#15 57.6 Percent: The unemployment rate for workers under the age of 25 in Greece - a brand new all-time high.

#16 60 Percent: Citigroup is projecting that there is a 60 percent probability that Greece will leave the eurozone within the next 12 to 18 months.

#17 70 Percent: It has been reported that some homes in Spain are being sold at a 70% discount from where they were at during the peak of the housing bubble back in 2006.  At this point there are approximately 2 million unsold homes in Spain.

#18 200 Percent: The debt to GDP ratio in Greece is rapidly approaching 200 percent.

#19 1997: According to the Committee of French Automobile Producers, 2012 was the worst year for the French automobile industry since 1997.

#20 2 Million: Back in 2005, the French auto industry produced about 3.5 million vehicles.  In 2012, that number dropped to about 2 million vehicles.

One thing that these shocking numbers cannot convey is the tremendous amount of pain that many average Europeans are living through on a daily basis at this point.  To get a peek into what life is like in Greece these days, check out this short excerpt from a recent Bloomberg article...
Anastasia Karagaitanaki, 57, is a former model and cafe owner in Thessaloniki, Greece. After losing her business to the financial crisis, she now sleeps on a daybed next to the refrigerator in her mother’s kitchen and depends on charity for food and insulin for her diabetes.
“I feel like my life has slipped through my hands,” said Karagaitanaki, whose brother also shares the one-bedroom apartment. “I feel like I’m dead.”
For thousands of Greeks like Karagaitanaki, the fabric of middle-class life is unraveling. Teachers, salaries slashed by a third, are stealing electricity. Families in once-stable neighborhoods are afraid to leave their homes because of rising street crime.
All over Europe, people that have lost all hope are actually setting themselves on fire in a desperate attempt to draw attention.  Millions of formerly middle class Europeans have lost everything and are becoming increasingly desperate.  Suicide and crime are skyrocketing all over southern Europe and massive street riots are erupting on a regular basis.

Unfortunately, this is just the beginning.  Things are going to get even worse for Europe.
Meanwhile, those of us living in the United States smugly look down our noses at Europe because we are still living in a false bubble of debt-fueled prosperity.

But eventually we will feel the sting of austerity as well.  The recent fiscal cliff deal was an indication of that.  Taxes are going up and government spending is at least going to slow down.  It won't be too long before the effects of that are felt in the economy.

And of course the reality of the situation is that the U.S. economy really did not perform very well at all during 2012 when you take a look at the numbers.  The cold, hard truth is that the U.S. economy has been declining for a very long time, and there are a whole bunch of reasons to expect that our decline will accelerate even further in 2013.

So if you are an American, don't laugh at what is happening over in Europe at the moment.  We are headed down the exact same path that they have gone, and we are going to experience the same kind of suffering that they are going through right now.

Use these last few "bubble months" to prepare for what is ahead.  At some point this "hope bubble" will disappear and then the time for preparation will be over.

This article first appeared here at the Economic Collapse Blog. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here.


BE THE CHANGE! PLEASE SHARE THIS USING THE TOOLS BELOW


BE THE CHANGE! PLEASE SHARE THIS USING THE TOOLS BELOW


If you enjoy our work, please donate to keep our website going.

5 comments:

Anonymous said...

First they have to be sure we can't fight back.

Anonymous said...

They must take our guns before they intentionally collapse our financial system. (that's their plan) Most people have no clue that the Federal Government has absolutely zero authority to confiscate guns from the people of the several states. It may have authority to do so in DC (ten mile square) enclaves and territories; and from citizens there of, but their legislative jurisdiction does not extend beyond that ten mile square aka DC. See: INTERDEPARTMENTAL, COMMITTEE FOR THE STUDY OF JURISDICTION OVER FEDERAL AREAS WITHIN THE STATES, at:http://www.constitution.org/juris/fjur/1fj1-3.htm

Anonymous said...

This is another reason why they must disarm Americans...

UN Agenda 21/Sustainable Development is the action plan to inventory and control all land, all water, all minerals, all plants, all animals, all construction, all means of production, all information, all energy, and all human beings in the world. INVENTORY AND CONTROL Have you wondered where these terms 'sustainability' and 'smart growth' and 'high density urban mixed-use development' came from? Doesn't it seem like about 10 years ago you'd never heard of them and now everything seems to include these concepts? Is that just a coincidence? That every town and county and state and nation in the world would be changing their land use/planning codes and government policies to align themselves with...what? Far from being a ‘conspiracy theory’ or a ‘tin-foil hat’ fantasy, this is an actual United Nations plan, signed onto in 1992 by President George HW Bush along with 178 other world leaders. The UN called it Agenda 21 because it is the Agenda for the 21st century. According to UN Secretary General Maurice Strong, the ‘affluent middle-class American lifestyle is unsustainable.’ That includes single family homes, private vehicles, appliances, air-conditioning, & meat-eating. They are a threat to the planet. This might sound like a silly plan that doesn’t affect you. But look around. This economic collapse is UN Agenda 21. You’ll hear that this plan is non-binding, that it’s a dusty old plan with no teeth. That is a lie. In fact over the last 20 years this plan has been implemented all over the United States. It’s called Sustainable Development. The 3 E’s: ecology, economy, equity. After George Bush signed it in 1992, it was brought back to the US by President Clinton (1993) when he created the President’s Council on Sustainable Development for the sole purpose of getting it into every city, county, and state in the US through federal rules, regulations, and grants. This is a global plan but is implemented locally. You’ll see it as a regional plan. It might be called Vision 2035, or Your Town 2025, or One Bay Area, or Plan NY…all of these regional plans are the same. They call for stack and pack housing, restricted mobility, and regional government. Domestic surveillance, smart meters, GMO’s, loss of freedom—all UN Agenda 21/Sustainable Development. You are losing your rights. You are being manipulated. You are being lied to. You are the Resistance.

Anonymous said...

WHAT’S WRONG WITH SUSTAINABLE DEVELOPMENT?
How could something that sounds so good be bad? Who wouldn’t want to be sustainable? Vibrant? Walkable? Bikeable? Green? These buzz words
were designed to make you think that you’re doing something good for the planet. This is the biggest public relations scam in the history of the world.
Sustainable Development was created and defined by the United Nations in 1987, and the action plan to implement it was signed onto in 1992 by US President Bush and 178 other nations. It was called Agenda 21, the Agenda for the 21st century. Considered unsustainable under this plan: middle class lifestyle, single family homes, private vehicles, meat-eating, air conditioning, appliances, dams, farming, you.
Clinton began to implement it in the US in 1993 by giving the American Planning Association a multi-million dollar grant to write a land use
legislative blueprint for every municipality in the US. It is called Growing Smart Legislative Guidebook with Model Statutes for Planning and the Management of Change. This was completed in 2002 and is being used to train planners in very university, college and government planning office in the nation. Growing Smart is Smart Growth. Growing Smart is in our planning department and its principles are in our city and county plan. Right now. Beside this, on the shelf, is The Local Agenda 21 Planning Guide put out by ICLEI and the United Nations. Urban areas are being consolidated and rural areas are being emptied of people through restrictive land use policies, gasoline costs, vehicle miles traveled taxes, loss of rural road maintenance, closure of rural schools, closure of rural post offices, water well monitoring, smart meters, and regionalization pressures. Smart Growth is not just the preferred building style for UN Agenda 21/Sustainable Development; it is the ideology. Moving people into
centralized urban areas in high density housing creates the perfect opportunity for domestic surveillance. This ideology is being used as the
justification to radically change every city in the United States and to impose regulations dictated by unelected regional boards and
commissions. It is remaking government. This dramatic revolution in private property rights extends to every facet of our lives: education,
energy, food, housing, transportation. We are being told that this is OUR PLAN but it is not. We object to this manipulation and refuse to be
subjected to it. Educate yourself. Speak out. BE the Resistance.

Anonymous said...

Why do you think the men of the USA have not taken they're guns in numbers to the Fed and done what needs to be done. IS IT NOT THE FED THAT IS THE FINANCIAL KINGPIN BEHIND ALL WE ARE WITNESSING TODAY. THE WARS ETC ETC.

Post a Comment