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All-Time High Unemployment: The Economic Depression In Europe Just Keeps Getting Deeper

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Greece Riots - Photo by Master of PuppetsThe unemployment rate in the eurozone is higher than it has ever been before.  This week we learned that eurozone unemployment came in at an all-time high of 12.2 percent for September.  Back in January 2012, it was sitting at just 10.4 percent.  So anyone that believes that “things are getting better” in Europe is just being delusional.  In fact, the economic depression in Europe just keeps getting deeper.  The funny thing is that the mainstream media will barely call what is going on in Europe a “recession” even though the unemployment rates in both Spain and Greece are now much higher than anything that the United States ever experienced during the “Great Depression” of the 1930s.  There haven’t been as many headlines about the financial crisis in Europe lately because the ECB has been papering over the debt problems of the periphery (at least for the moment), but the economic conditions on the ground for average Europeans just continue to get even worse.  Later on in this article, you will read about a 25-year-old Spanish man with three college degrees that moved to London in a desperate search for a job who is now cleaning up poop for a living.  The economic collapse of Europe continues to march on, and there is no end in sight.

All you have to do is look at the latest unemployment numbers to realize that things are getting worse in Europe.

In Italy, the unemployment rate is up to 12.5 percent.

In January 2012, less than two years ago, it was sitting at just 8.9 percent.

In Greece, the unemployment rate is up to an astounding 27.6 percent.

In January 2012, it was sitting at just 21.4 percent.

In Spain, the unemployment rate is up to 26.6 percent.

In January 2012, it was sitting at just 22.8 percent, and all the way back in January 2008 it was just 8.6 percent.

The youth unemployment statistics in the eurozone are even more horrifying

Unemployment among the under-25s rose by 22,000 in September to 3,548,000 – nudging up youth jobless rate to 24.1%. In France, the youth jobless rate jumped from 25.6% to 26.1%, while in Italy it increased from 40.2% to 40.4%.

But as bad as those numbers are, they are nothing compared to what is going on in Spain and Greece.  In Spain, the youth unemployment rate is up to 56.5 percent, and in Greece the youth unemployment rate is up to 57.3 percent.

And of course unemployment is not the only problem that the European economy is dealing with right now.  The following are some more facts about the European economy that show that the economic depression in Europe just keeps getting deeper…

-European car sales are on pace to hit a 23 year low in 2013.

-The percentage of “bad loans” in Spain has soared to a new all-time record high.

-The number of mortgage applications in Spain has fallen 90 percent since the peak of the market.

-Citigroup is projecting that the unemployment rate in Greece will reach 32 percent in 2015.

-Over the last several years, Italy has experienced the biggest collapse in GDP growth that it has ever seen.  Overall, the GDP of Italy has contracted by about 8 percent since 2008.

-The number of unemployed workers in Cyprus is now five times higher than it was before the financial crisis of 2008.

-It is being projected that Spain’s debt to GDP ratio will rise to nearly 100 percent by the end of next year.

-The debt to GDP ratio of Portugal is already up to 123 percent.

-The debt to GDP ratio of Italy is already up to 127 percent.

-Even though Greece has implemented a whole host of “austerity measures”, the debt to GDP ratio of Greece is now up to 156 percent.

But what these numbers cannot really communicate is the tremendous amount of pain and despair that millions upon millions of Europeans are experiencing right now.

For example, consider the story of Benjamin Serra Bosch, a 25-year-old Spanish man that moved to London in a desperate search for a job.  He has three college degrees, including a Master’s Degree from the IEBS Business School in Barcelona.  The following is a rough translation of a message that he recently posted on Facebook

My name is Benjamín Serra, I have two bachelor degrees and a master’s degree, and I clean toilets.

No, it is not a joke. I do it to pay the rent for my room in London.

I’ve been working in a famous chain of cafes in the United Kingdom since May, and for the first time today, after 5 months working there, I see it clearly. I have been cleaning toilets. My thought was: “I received distinction in my two degrees and I clean other peoples’ poop in a country that isn’t my own.” Well, I also make coffee, clean the tables and wash cups.

And I am not ashamed to do so. Cleaning is a very decent job. What embarrasses me is having to do so because no one has given me an opportunity in Spain. Like me, there are many Spaniards, especially in London. “You are a plague,” I was told once here. And let’s not kid ourselves. We are not young people on an adventure to learn the language and have new experiences. We are immigrants.

I’ve always been very proud, I am not going to deny. Those who know me, you know. And I have to bust out a smile at customers who look over my shoulder as I am simply a “barista” (as they call it here). Some are so outrageous that it makes me want to pull out my University and master degrees and put them in their face. But it would not really do anything.  It appears that those titles now only serve to clean the poop that I clean from the toilets in the cafe. A pity.

I thought that it deserved something better after putting so much effort in my academic life. It seems that I was wrong.

As economic conditions continue to decline all over Europe, anger and frustration with the “European experiment” continue to grow.  UKIP’s Nigel Farage expressed these sentiments very eloquently during a speech on the 23rd of October when he stated that “what we are saying, large numbers of us from every single EU member state is: we don’t want that flag, we don’t want the anthem that you all stood so ram-rod straight for yesterday, we don’t want EU passports, we don’t want political union.”

Unfortunately, the elite of Europe are so obsessed with their little experiment that the only “solutions” to these economic problems that they are even willing to consider involve even more European integration.

And Americans certainly should not be looking down their noses at what is happening in Europe.

What is going on in Italy, France, Spain and Greece will be coming here soon enough.  In fact, even during the midst of this so-called “economic recovery”, poverty continues to absolutely explode in the United States.

Economic conditions in both the United States and Europe have never even gotten close to where they were prior to 2008, and now the next major wave of the economic collapse is rapidly approaching.

This is just the beginning.  Things are going to get much worse in the years ahead.

  • jakartaman

    I think Michael’s last sentence says it all.
    Smart folks will be prepared – the dumb will be dead

    • seth datta

      To be honest, I think the mark of the beast in the head already exists and all that remains is the mark in the hand – the cashless economy. Since most people are not self-reliant and rely on ‘society’ to survive, they will be enslaved to the beast global economic system and its image – the debt-based MONEY that enslaves us.

      • GSOB

        define ‘beast’

    • Hammerstrike

      Darwin was right.

    • markthetruth

      Don’t be “Stupid ” and use “the Dumb” as it offends people born with a of congenital deafness . People can be stupid , but dumb people are not by definition Stupid !!!

      the end…

    • energizedmortal

      greed, corruption, poverty, and war what else is new another day in paradise

  • whteshark

    I think it will be worse here. We’re more politically and demographically divided and pretty much a tinder box.

    When this lie comes crashing down on our heads both sides are going to blame the other and scream for blood.

    Our government can only “paper” it over for so long too.

    • Hammerstrike

      Multiculturalism only works when everyone have it good and medias are shielding the populations from the truth.

      • TRUTH

        Multiculturalism NEVER works, especially black vs white. The medias TRY to sheild it but the ones that have always kept their eyes open know better..

        • Hammerstrike

          Oh, by “work” I do not mean like in a functional, healthy society.

          I mean avoiding a civil war or at least, avoid extensive guerilla warfare, as is happening in Syria right now.

      • A Dodgy Bloke

        I have to agree with Hammer everything works right when people have money on their pockets, and new episodes of Honey Bo, Bo are on. Things don’t go well when people are fearful and broke.

  • Rodster

    Yeah it’s pretty sad that the Media on both sides of the Atlantic refer to Europe’s problem as a recession. It a shame the word economic depression is not used to describe their plight.

    The world’s economic power is quickly shifting from West to East with China in the drivers seat unless the all the world’s economies meltdown simultaneously from a Black Swan event.

    And yet the corrupt/criminal two party criminal gang is too busy fighting each other and recruiting Gary2’s to do their recruiting. We deserve our fate.

  • Bushisugly

    The only difference from the great depression, is that this time, we have a new world order. No real reformers with power, just a bunch up puppet leaders, and a propaganda machine (aka the main stream media) working overtime to zombify the people. Europe and the US alike. The only light in the tunnel are coming from molotov cocktailes thrown in desperation towards the wrong people. Prepare yourself.

    • Gregge K Johnson

      You can not prepare against BioTerrorism. You are a carbon based unit ! Breath and you die.

      • davidmpark

        Yes, you can. It take’s total preparations beforehand.

    • Hammerstrike

      Not toward the wrong people.

  • cannuck21

    Good but very sad article. So while all this is going on, may I suggest that we stop for a moment and if you would, say a prayer to whatever God you believe in – for the young of all these countries. Their hopes and dreams, things which the older ones amongst us took for granted, are no longer there. It is soul crushing. Its is simply wicked. And remember the crooks and banksters who live high on others misfortune – their time will come.

  • Syrin

    The IMF is about to pull a GARY and confiscate 10% of people’s savings, because you know, saving and working to better yourself is evil. All hail the mighty nation state. Coming eventually to America courtesy of the parasite class (looking at you GARY), and greedy socialists everywhere with the aid of the American Fuhrer. Socialism has killed more people in peacetime than all world wars combined, and the ones who are killed are members of the parasite class. Funny how they keep pushing for their own demise.

    • Gregge K Johnson

      Stalin killed 100 million on Socialism principles

      • Hammerstrike

        LOL, you are being an idiot if you believe that!

        Homeland Security have far more numbers, far more funding, far more lethal armament and training on how to use that armament, far more organization and experience than the NKVD ever had in Stalin´s time.

        So you know, if that was true, Obama and his masters would have won by now, exterminated all their inner enemies.

        Repent from the sin of cretinery and embrace critical, objective thinking!

        • davidmpark

          Obama has won in his eyes. In reality; he’s delusional: Narcissism is not attractive; it’s only inspiring to other lesser
          narcissists; hence the need to create a high self-esteem welfare state.

          The reality is he and his true believers are sorely outnumbered. They need to do the same thing N Koreans did to hold US prisoners in line – psychological warfare. It easy to break.

          • Hammerstrike

            Or rather, what the Vietnamese did to McCain, they freed the body but kept most of the brain, lol!

          • Hammerstrike

            Oh, someopne butthurt over the McCain comment? McCain and his skanky daughter can choke on some diseased schlonges.

    • Libsare Ajoke

      yes, gary is a joke

  • K

    The plan has always been worldwide. You are just seeing more action in the U.S. lately. Because they are trying to catch us up with the rest of the world. Many have written, two weeks after Europe collapses, we in the U.S. collapse. Remember the elite are more afraid of this Country, than any other. They will at least try, to collapse us first.

  • Gankfest

    Jesus can fix it…

    • jsmith

      He better get going and intercede right now!

    • Gene Baugh BBA

      Just like he fixed the last Great Depression?

    • Hammerstrike

      By using biological warfare.

    • davidmpark

      So long as we are willing and actually do be faithful to Him. His gospel is the only solution that we ALL can thrive on.

  • MAL3313

    If Americans have any justifications for “looking down their noses” at Europe it’s only because Europe pioneered the road to self destruction that America has taken. All those Europeans who cheered for Obama were doing so secure in the belief that Obama hated America even more than they do.

    • Hammerstrike

      Cultural marxism began in Germany (Frankfurt school) and England was one of the first major european countries to fall under bankster control.

      Not quiet, to them Obama was the image of the america they love, all that the west european majority knows is what the liberals medias tells them.

      Few of them have come within nose range of a flea-bagger or been spat on and insulted by “african-americans” for being White.

      • TRUTH

        MAL3313 and Hammerstrike, BOTH of you could not be more on the truth!! (NOT sarcasm) Many people in the midwest here are stupid liberals just like the Europeans, that have never had the “pleaseure” of working and living around “african americans” and dealing with all the tripe that goes along with that race. Therefore they embrace that race as if they are special. It is one of the most sickenng things I have seen..

  • paul

    How many times over the past years have we all heard that the worst is behind the Euro?That we can now see the greenshoots of recovery. I often wonder what it will take for most people to realise they’ve been totally screwed.

  • James


    Speaking of unemployment here in the U.S. it is as bad as some of the southern Europeans countries. I completely agree with John Williams that the real unemployment rate is 23%. Your articles on the fact that only 58% of working age Americans are in the labor force really stood out to me. When I was furloughed it was amazing how many people were home during the day to me. I know that some people work at nights but that is not the norm. I challenge anyone with a full-time job like me to take a unscheduled day off and see how many non retired people are out of the labor force and home during the day. Thank you for your articles Michael every time someones says I am being paranoid about the coming financial collapse I always point out your articles.

    • Vaibhav

      what will be affect on India ?

      • SAM

        India will go down when the rest of the developed economies will go down.

        • Vaibhav

          Even india is in property bubble. Gurgaon property has increased 10 times in 10 years due to people from IT/BPO/KPO buying—- here also people buying based on theire real estate assets

          Any chance of US stopping outsourcung in next 5-10 years ?

          • middleclassIndian

            Nope. Outsourcing will not stop because it is done by corporations that impoverish their own people to make the extra buck. But surely, automation will be the danger man for the IT/ITES business in India over the next 1-2 decades, after which they will have killed a parge part of it here (I’m an Indian in India!)

            To many out there, here’s the real deal with India. The ones to be most affected will be the youngsters who, in the last decade, have only seen upward markets and have never experienced a real bear market (in jobs, definitely). The coming crash will be a lifelong lesson for them.

            For the rest, we have the largest reserves of gold anywhere (some say 10-12% of all gold globally). Then again, very large mass of people know what it is to live on very little and thus even a depression would not reduce their living conditions much.

            But the yuppie, young city dweller. Their first sign of fear is about the property bubble (in bubbly areas like Gurgaon with substandard infra and sky-high prices). Anyone with over-reaching debt is going to be facing a very bad time next 2-3 years.

            Reduce debt. Be tight in living expenses, save as much as possible and buy some gold for protection.

            All of these were traditional Indian values around 30 years ago! 🙂

          • Vaibhav

            All young indians who got a 5 lac job is
            a) buy a car
            b) buy a apple phone
            c) shop in malls

      • A Dodgy Bloke

        Zero Hedge had a couple of really good articles on the situation on India. The Rupee has been taking a beating since late summer. Capital has been fleeing India and food Inflation is starting to take off. Keep an eye on India in 2014.

  • Gregge K Johnson

    The only way to eliminate the debt ::: is for the Elite Bankers and Insurance Elite to eliminate the People that they have the responsibility to pay their pensions ! Bioterrorism with eliminate 3 billion people and save the Bankers 180 trillion dollars.

    • Wally

      Sadly I agree. Why stop at 3 billion. Why not make 6.5 billion? All of a sudden now isn’t it ironic all of these super-bugs being found. A huge world wide pandemic and pow half the world’s population gone in a matter of a few months.

      • kfilly

        The sad reality is it probably won’t be the pandemic, but it will be the forced vaccination that will kill people. You know it will be the typical gubernment create a problem and make the solution worse response.

      • Hammerstrike

        No, they rather kill just 10-5% of the world population but this 5-10% being the most intelligent.

        They are just fine with the rest, which is too dumb to revolt and resist against their rule.

  • ashtrayman

    The world system is going to collapse, the world wont be the same ever again, the only solution is
    Jesus nothing more.

    • Hammerstrike

      Embrace the Word of Darwin, accept Darwin in your heart and you may be Saved.

      • TRUTH

        I only WISH it were that easy!! Liberals however have thwarted that process beyond control..

        • Hammerstrike

          It can only be delayed. not stopped.. -)

          • Bob

            Who needs Darwin when we can genetically modify people?

          • Hammerstrike

            Yo´ll have to get through the idiocracy before it becomes common.

          • Ralfine

            yeah, who needs gravity when we can fly to the moon?

          • BlackDog



  • A D

    The masters will let it collapse when the time is right, until then it is a disaster spinning out of control. Oboma is making sure he does his part.

    • Hammerstrike

      Already back in the latter 1990s Britain, some folks lived in really squalid conditions, really more akin to third-world than the first-world.

  • ian

    hmmm…..just returned from Europe. Absolutely no sign of a depression.

    • Jimbo

      Go to London or Paris as a tourist and you will not spend your days visiting the squalid council estates within a stones throw of the main attractions.

      • ian

        travelled all over. things look fine there.

        • El Pollo de Oro

          Voulez-vous aller a Clichy-sous-Bois o Epinay-sur-Seine avec moi pendant la nuit? Nous pouvons aller a “les cites” ensemble.

          • ian


    • El Pollo de Oro

      Nope. No sign of a depression in Spain or Greece. 56% youth unemployment in Spain, no biggie.

  • Vermaphax

    Watch the numbers of the dead rise as winter cycles through…keep them in your thoughts, if you know any newly homeless tell them they should have gone south a month ago.

  • Mad Max

    Mother of us all, you people live in a fairy tale.

  • Gene Baugh BBA

    And it all started the very day Barack Obama took office! O lordy lordy if we had only voted for a Republican none of this would be happening. Now we have worldwide economic depression.

    Mitt Romney and his Mormon god could have licked this thing in two weeks with one hand tied behind their backs.

    In your dreams my friends.

    • mikeymike61

      oh, Obama has done such a good job!!! plus we got rid of all the white guilt to boot!!!
      how’s your healthcare premium lookin these days? Gene, don’t you read anything on this blog or do you just look at the adverts?

    • MrsBulldoggy .

      That’s right because Obama has it all under control.
      His 600 MILLION Dollar website is working, isn’t it? Haven’t 6 people signed up for his program?
      How many Americans are on welfare? 46 Million and counting. Oh, and isn’t that the most EVER?
      How many are on Unemployment? Over 12 million…
      And what about the Unemployment rate? Over 7%, still?!
      Wasn’t America’s credit rating downgraded under Obama for the first time in US history? YEP.
      We’re doing so well under Obama that The Fed keeps printing money, 85 BILLION a Month to prop up the economy. We are in a QE Bubble that will burst and cause havoc in the future. Oh, and God help us when the Fed decides to raise the interest rates from 1-2% to 5-6%. The interest payment on the money we’ve borrowed will take over our budget, leaving little left to pay all the entitlements people are screaming for…
      What is our nation’s economic growth? 1.5% – Barely moving….
      How many jobs are being lost on a monthly basis under Obama? Hundreds of thousands each month…
      Did Obama, the Nobel Peace Prize Winner offer a peaceful solution to the Syrian Chemical Weapons Crisis last month? Um, NO. It was Vladimir Putin!!!
      Who had the IRS withhold Tea Party Applications so they couldn’t organize for the 2012 Elections? Obama.
      Who has the NSA spying on its own citizens and world leaders? Obama.
      Who had their ambassador killed for the first time in 30 years? Obama.
      Who has done more to foment racial divide in this country than any other President in US History? OBAMA!
      Who told George Stepanopolous in an Interview that he was Muslim? OBAMA. (and then George corrected him and said you mean, Christian, right?)
      There are many, many more examples out there. All one has to do is open their eyes, put down the Kool-Aid and get a clue.

      • Gene Baugh BBA

        I read this site for the economic perspective. I’m just poking fun at the Republican Hatemongering/Propaganda machine,

        If you only could see how silly it makes you sound to the mass of voters in the middle. But you can’t see it because you are indoctrinated by it.

        Global macroeconomic trends are more than any one man or party or country can control. In fact they are beyond control.

        As one who was expecting economic crisis I can tell you this:
        During a Depression I want a “bleeding heart” liberal in office not a “Let them eat cake.” Conservative.

        • Libsare Ajoke

          you are a fool

          • Gene Baugh BBA

            Because I’m not married to a political party?

            Google Nikolai Kondratiev.

      • Gene Baugh BBA

        Did anything bad happen during George Bush’s presidency? Let’s say 9/11. By Republican logic George Bush is personally responsible for 9/11. Sounds silly doesn’t it?

        Unless you are a conspiracy theorist.

        • Libsare Ajoke


  • saintmatty

    Things seem rather quiet lately. Brace yourselves for the next birth pang.

  • newpapyrus

    With outsourcing and robots, the West still doesn’t realize that the 40 hour work week is over.

    Its time for Americans and Europeans to move towards a 32 hour work week– starting with government employees. And then we’ll have full employment again.

    Marcel F. Williams

    • Ralfine

      The Germans are already at a 32 hour work week, 30 days paid vacation, paid sick leave, maternity leave, low energy housing, 80mpg cars, separate bicycle paths between villages and inside towns and cities, PV on their roofs, wind farms, and it seems the chancellor with a doctorate in physics stays where she is.

    • Nic

      It s time to bring the industry back to the west…. And create jobs, real jobs….

  • FortuneSeek3rz

    And to think these conditions are persisting during a period of history where there are relatively few wars taking place. Unless there is some sort of energy renaissance these conditions will either persist or worsen. The growth economy is a derivative of cheap energy.

  • Nic

    Totally correct. Our eu politicians have set rules thinking Europe will be a success. Switzerland has always laughed at Europe and decided to not be part of this mess unless they show they are better Than Switzerland.
    So far, Switzerland and Norway are not so bad because these countries are not part of the cee.

    In 2 months, Romania joins Europe. Millions of gypsies are waiting for the door to open. Mass invasion of unemployed people coming to invade Europe.

    Watch the show of these European Suckers. These guys in Brussels are just a bunch of clowns. They still think Europe is the best thing in this world.

    Go Swiss!

    • Hammerstrike

      It will be a relief for Romania to become less “multicultural”.

      • Nic

        Romania don’t like gypsies at all and they are happy to dump them to West Europe from 2014. as Europe is part of human right, EU citizen will have to pay for them. So more money to print or increase taxes.

        And by the way, In Germany, engineers make 400 euro à month or are under a program called hartz (heart) where people are paid 1 euro an hour by their boss and government pay the rest.
        It s simple, nobody want pay his workers as long workers get paid by the government. Employers now get free employees at 1 buck per hour, so how people are going to pay their duties to this society if everybody work for peanuts.? Who will collapse first, EU or USA?

        • Hammerstrike

          That is good of them, not to believe the lie tat gypsies are their equals and should be allowed to live in Romania.

    • mikeymike61

      sounds like the Mexican on the border waiting for amnesty here

  • Arizona

    HOW smart are the europeans,NOT,the bankers sold you to russia and china,why do you think they took your guns,cause your to to stupid to even see it coming,hahahah…….till they kill everyone of you,and take everything you have…………………

    • Michał W. Solański

      What do you mean by taking our guns?

  • JG

    My Family lives in Italy, they tell me things are so terrible it is beyond words, I don’t feel like taking out the time to get into it or go into the details, what’s the point.
    As an engineer I have to say the bottom line is no system can consume more than it produces foever. Very bad things are coming, very bad. Guaranteed.

    • Libsare Ajoke

      are they expecting a collapse?

  • Rufus T Firefly

    Nice to see the arrogant eurotrash get the comeuppance they richly deserve. Meanwhile it is time to choose a region to conquer militarily and use its resources.

  • Trailer Park Investor

    What is happening to Greece and Spain will happen in America – and much much worse.
    Get ready it’s comming!
    Tick Tock, Tick Tock

  • David Fuhriman

    I can relate to Benjamin Serra. I have three degrees including two master’s degrees from well-respected, American universities. I have an All-Star rating on my LinkedIn account. I have applied and applied for various jobs in my field. What am I doing? I am teaching English in Ukraine at a paltry $925 per month. So much for higher education and the American dream!

    • no what i mean vern?

      What were your majors? African American Studies and Women’s Studies?????

      • David Fuhriman

        My majors were B.A. International Relations; MS Geography with an Urban Planning emphasis; and MA in WMD Nonproliferation and Terrorism. I also know four foreign languages to add to my degrees.

  • Kim

    What do you expect from an entire continent that is dependent upon outside, foreign energy.

  • piccadillybabe

    Another interesting bit of information about Spain is that when you can no longer pay your mortgage, you are kicked out of your home and you are indebted to the bank for the rest of your life until it is paid off. That sounded pretty harsh to me. No chapter 11 in Spain where the debt is cleared off the slate and you are free to go.

    • Jimbo

      Same applies in the UK and Australia.

    • El Pollo de Oro

      PiccadillyBabe: Absolutely right. And those same banksters that are so unforgiving will be begging for bailouts and bail-ins. España is an absolute powderkeg. And all the British pensioners living in Andalucía will be in for a rude awakening when the banksters confiscate their retirement accounts Cyprus-style.

      • Hammerstrike

        Franco and his followers waged their war for God and Country, the banksters and their thugs only believes in spitting on the former and selling out the latter.

        So, if this powerkedg see a few sparks, banksters would most likely loose.

    • piccadillybabe

      There are many people living in foreclosed in the US. The banks have so many foreclosed homes to deal with that it takes the legal system years to deal with it all. As a result, many are living in their foreclosed homes free of charge and the banks would rather having them occupied that not. What a fiasco but a sweet deal for some for awhile at least.

  • Chuck

    He is not complaining, is he. He seems grateful for a room and food. He, like so many others, will have to take a stand and take on the NWO. They can begin in the CITY OF LONDON. Or not……..

  • HHB3

    Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.

    Winston Churchill

    • Hammerstrike

      A “man” who lost power to socialists in his own country.

  • Libsare Ajoke

    coming to a gary led nation like yours

  • davidmpark

    Well, Europe love’s their turmoil.

    Last time I saw it the place looked run down in many areas. The tourist spots were okay; the countrysides were no more impressive than here. Only the architecture and Renaissance works were extraordinary. But everywhere I saw was CRAMPED to me.

    What caught my eye was the class structure. Some areas were for the better off and had more open space than the lower class areas. And despite their democracies, socialism, and technocratic states; they kept their class systems – in some places their caste systems. That’s their Achilles heel!

    And the expense! Though the Euro and GBP is stronger than the dollar; in practice the inflation there is nasty! The campground in London was 21 pounds a night! The hotel room was a water-closet that cost 230 pounds a night!! Shopping was like going to their supermarket and finding a 7-11. And don’t get me started on the taxes: most of what is sold has a VAT, sales, and a lot of other confiscatory levies on it. We had to pay congestion charges to drive through Piccadilly!

    What also caught my eye was the shooting in London. They have no gun rights, and yet have a lot of shootings! Also, a lot of the firearms that were being used were not just illegally smuggled, but also homemade. Phillip Luty style machine guns and pipe pistols.

    I don’t believe anyone who says Europe is romantic and thriving. I know what’s going on. The place was a dive!

  • gsiamne

    I have a friend who is a programmer in Norway and he has said he will never come back to the US. I would love to move there but because of a condition I can not.

  • Dave

    And as is the case in the Euro as is the case in the USA the stock markets in both are running at very bubbly highs. Central Bank infusions of liquidity are serving absolutely no purpose other than to make the wealthy wealthier under the guise of trying to boost employment and fiscal policies in both countries are economically repressing that of the common individual including small businesses. In America, it is now corporatocracy with a side of cronyism that is ruling the land. I see it everyday all around me and the discouraged hopeless faces are growing in number at an alarming rate.

  • Ralfine

    In a depression people cannot spend much money, so you better have an occupation, that will be needed in a depression, like plumber, or hairdresser. Be ready to cut hair for 5 quid in a room with a chair and a mirror. In China, the hairdresser sleeps in his shop. He’ll be there on Sunday afternoon, offering you a tea, when you come in.
    In Germany, you need a 3year apprenticeship, and if you want to open a hairdresser shop you need to have finished the master hairdresser college and joined the hairdresser association. hairdressers charge 20 EUR, and when you have time for a haircut, the shops are closed, because Sunday belongs to the Lord. So people ask their friends and family to cut their hair for a coffee.

    • Nic

      I m in Asia, people buy ice and make fruit juices. But in Europe u need to pay a tax and have a business registrated

      • Ralfine

        I love the food carts in Asia, be it in Hong Kong, Thailand, Indonesia, China, Philippines. Early morning dim sum, or late night fried bananas.

    • El Pollo de Oro

      Ralfine: Here in my very blue-collar section of Philly, I know a barber who cuts hair for 8 bucks an hour. His business was doing really well before 2008, but now, he has a hard time competing with Asian barbers who give haircuts for 5 dollars an hour. On the other hand, I have a friend who owns a high-end salon in the Rittenhouse Square area (one of the most upscale parts of Philly) and he is making a fortune from women who are married to cardiologists, investment bankers and corporate lawyers. So there’s the contrast: the upper class prospers, while Main Street can’t even afford 8 bucks for a haircut anymore.

      • Ralfine

        When I lived in China, I paid $3 for a haircut in the village, but that included washing – with the shampoo of your choice -, head, neck and shoulder massage, and the tea.
        In the city the salon was much larger. They gave you a locker for your belongings, then you lay down on a massage bed, with LCD TV overhead, while they washed your hair. Cost about $5 per haircut.

        In UK it’s #5 per haircut and that includes just the haircut. That’s the cheapest I can get.

  • FounderChurch

    THERE IS NO SUCH THING AS UNEMPLOYMENT! Never in the history of the world has there ever legitimately been such a thing as unemployment. There HAS been such a thing as the gross mismanagement of a society, and the premeditated, purposeful creation of unemployment by men for their evil purposes is part of that, but actual unemployment is an unnatural thing that does not occur anywhere in the natural world.

    It has to be purposefully and aggressively created by those with ulterior motives and Special Interests fundamentally based on hate for their fellow human beings.

    In any discussion of so-called “unemployment” we have to start at that bench mark, and go on from there to combat it. To do that we have to look hard for the actual persons, and aggregates of people we call organizations, that work night and day to physically create “unemployment” and then, stop them, punish them, and put them out of business.

    They are like any noxious plague, or any cruel criminal conspiracy, and they will not stop until they are forcefully stopped. When they are stopped, and punished, this allows the forces conducive to employment to flourish and grow and allows those good forces to be supported by all of the Civic and Religious resources of society. The whole matter is just that simple.

    There is also such an evil thing as self-unemployment that functions on a most basic level. That would be, a person who just refuses to work, or refuses to see to it that others work.

    So the entire spectrum of those who favor and create unemployment runs from the individual to corporate to churches and on to government at all levels.

    There is a tendency to unemployment the same way there is a tendency to filth of all sorts, and to disease, and to cruelty and a host of other evil inclinations and characteristics present in humanity.

    Unemployment is part and parcel of original sin, and is therefore hardwired into human nature. So, we either go with that evil side of our nature or we contest it and fight it. But, one thing we first must not do, is to deny it exists and to twist and lie about its nature, causes and cures. Amen!

    PS: To get your heads screwed on right, Search “FounderChurch” and join the church of the people with intelligent, logical solutions to our problems. Don’t waste your time and resources elsewhere. And thank Michael for alerting us to these problems that some try to hide from us.

  • Vaibhav

    indians r richer

    • Libsare Ajoke

      they suck at programming, LOLOLOLOLOL

  • Theotimedesavoie

    Dear Michael,

    Thanks for this article and four great blog.

    Yes, the situation in Europe is very bad.

    Just, for your information :
    here in France, there are today big riots in Britain, in the town of Quimper.

    The food industry in Britain has lost 10 000 jobs in 18 month. The situation is catastrophic and the only idea of our government is to tax more and more and more…

    France is dead, exactly as Italy ans Spain.

    But the fall of France will very, very, very painful for all Europe…

  • Ralfine

    Grow food, not lawns;
    make love, not war.

  • GSOB


    “Not too long ago, after Tokyo was named the host for the Summer Olympics Games in 2020, Abe had repeatedly reassured the International Olympic Committee last month that the leaks were “under control.” Many Japanese believed that the Japanese government had turned a blind eye to the ongoing problems. Now, Abe cannot publicly ignore the problem, now worsened by the latest report of an accidental pipe detachment which resulted in the leak of several tons of water — which Fukushima operator TEPCO uses to cool the reactors. (TEPCO is the Tokyo Electric Power Co.)”

    “It took two and a half years after the fact for the Japanese Prime Minister Shinzo Abe to state publicly this past Sunday, October 6, that Japan is open to receiving overseas help to contain widening disaster at the crippled nuclear plant in Fukushima, where radioactive water leaks and other mishaps are now reported almost daily.”

    GREED! I tell you… GREED

  • GoldenEagles

    Energy is the key to turning things around as you say. But not material energy. What we need is God’s Energy, the resources of Divine Providence, pouring into the blood stream of every American.

    In this respect, it is always good to reinforce in the mind the relevance of first principle. For example, seek ye first the Kingdom of God, and all of these other things will be added unto thee. This one principle is the key to widespread abundance and prosperity in the economy of America, and every nation.

    As we contemplate the importance of this principle, we must bring into focus the definition of the Kingdom as given by the Master Jesus Christ, who was an expert on this subject. He said that the Kingdom is WITHIN. And of course, all of his teachings go in the direction of indicating what is the nature of that Inner Kingdom. For example, here is the source of pure oxygen: Love the Lord thy God with all of your heart, mind, and soul, and your neighbor as yourself. As the Master said, on this hangs all the law and the prophets.

    And so, we see, that to seek the establishment of the INNER kingdom, as the first priority of the life of a people, and a nation, this is what allows the condition of prosperity to come into manifestation for the whole. Of course, when we speak about prosperity, we are not talking about wealth piling up in the bank accounts of the already wealthy. We are talking about an ever expanding middle class, who, through their contribution of their God-Given talents within the economy, produce the level of economic activity that will allow wealth to be the experience of all the people, without the need for any redistribution efforts on the part of the government.

    These first principles tell us why socialism is the path to the death of every economy. Under a socialist system, the government plays the role of God, as the provider of every good and perfect thing. What this means, is that the people have been deceived, within their minds and hearts, into worshiping a false god. And where a false god is worshiped, the true God is not exalted. And within the mind and heart of the person, who worships a false god, and wherein, the true God is not worshiped and exalted, you have darkness. In the darkness you have not love, but fear. You have the ever expanding web of fear mechanisms, which grasp after the apparently infinite resources of the false god, the government, to solve problems. In this state of darkness, you do not have love, you do not have an abundance of divine energy or ideas, which is the source of prosperity. In this inner kingdom of shadow, as the shadow envelopes more and more of the population, what you have is a dying economy.

    For this reason, every socialist economy must eventually die. And that is what you are seeing in Europe. If the economies of Europe are to recover, the cancer of socialism must be thrown off. But most importantly, the death of reverence unto God must be reversed.

    It is any coincidence that LBJ’s “Great Society” program came forward only after reverence unto God was outlawed in the public schools of America in 1962? It was no coincidence. As the reputation of God has come under ferocious attack by the federal courts from that day forward, a clear path has opened for the advance of socialism in America, which is to say, the role of government taking on the role of God as the provider of every good and perfect thing. Clearly, as the power of the federal government has been used to cast doubt upon the relevance of the Real God, it has taken upon itself more and more of the duties of that God. But government in this role, is a cancer, a deadly organism, that has only one source of energy, and that is the people on which it feeds. It will kill them all, while proclaiming its good intentions unto the end. Socialism is always a path unto death for a nation, and a people.

    • Michał W. Solański


  • jp

    Master’s Degree from the IEBS Business School in Barcelona

    • jp

      But does that really matter? He would have long been employed at home if the economy in Europe was anywhere ok with or without a degree. I live there, know what I am talking about.

  • Steve

    Move to SC and you will find a LE job. The pay is pretty low but you’ll have decent benefits.Best of luck.

  • Mark

    You can’t have stability without the anchor of a gold standard.

  • rkb100100

    Europe has to decide whether or not it wants to have a communist system or a capitalist system. The two can’t co-exist with each other and the so-called “middle of the road” is getting narrower as time passes – Thus the increase in instability in these countries.

    Socialism is only a means to communism, a socialist today is nothing more than a failed/frustrated communist. A communist society would be classless and stateless, embracing conformity as a part of material egalitarianism. But there would be no material wants virtually eliminating risk. If that’s what Europe wants they need to sign up for the whole package. This straddling the fence amounts to providing false hope to people wanting to get ahead and stealing from those who have.

    Capitalism provides opportunities to better oneself, however it also requires material risk. Some will suffer who aren’t given adequate charity. Others will thrive. My point is choose one of these systems and stop torturing yourselves in Europe.

  • Hunniebun

    I can’t help but wonder what Benijamin’s degree’s are in. I would find it hard to believe that if he had a bachelor’s and master’s of Business Administration, or a bachelor’s or master’s in science or geology or nursing or engineering that he would be without a job. I do not want to sound uncaring, but many students in post secondary eduction are just getting a degree to have one, without any research into what opportunities are out there. I live in Canada and if you have a degree in Science, Geology engineering, and MBA or any medical profession you would have a job within a week. It is unfortunate that there are not jobs for all of us finding well-paid meaningful work in our area of interest, I wonder if he could go back 8 years and chose a different major he would reconsider.

  • Uncle Flipper

    Right now the TVs on in my kitchen. If it was up to me there wouldn’t be any TVs on except for select shows like the Munsters etc. Every night Fox news is on. All these morons talk about is healthcare healthcare heathcare. Funkashima is unleashing ungodly amounts of radiation into the atmosphere and Pacific ocean. We are also very close to a financial collapse but all these morons want to talk about is healthcare and politics. I hate Fox news don’t even get me started on the other two communist cable news channels CNN and those limp wristed fruits at MSNBC. Im not a proponent of sodomy or fornication. Both will lead you straight to hell.

  • Annette Smith

    Gerald Celente has predicted a crash that would shut down America and the World…and it hasn’t happened, yet. The Fed Reserve is printing and printing and they haven’t stopped yet. Something has to give at some point. Wish I know when that would happen. When is the point coming?

  • jonas

    Well, I think that to say that the integration process in Europe is to blame, or to point also in that direction is saying just part of the truth. If you take a look elsewhere in the EU, from the newest member states in Central and Eastern Europe, the one who is doing worst comparing to all its neighbours is the Czech Rep. They are the most euro sceptic and anti euro currency of the region and it is the only country (apart from Hungary) that is not doing so well. Euro optimism in Poland is on the rise and they are preparing for the adoption of the common currency. Well, it seems it´s the south only.

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