Another nightmare graph on the euro crisis. This time youth unemployment rates.

stoweboyd:

ajfaultlines:

theatlantic:

Europe’s Record Youth Unemployment: The Scariest Graph in the World Just Got Scarier

[Image: James Plunket]

So that’s happening. 

Greece is adding an additional 1% of unemployed youth per month, will reach 80% in 2014 at this rate. When will this precipitate civil disorder?

Attempts being made to hide (or hide from) the full extent of the economic crisis ahead of the G8 meeting in Northern Ireland.

reuters:

Ahead of the G8 meeting, fake shops are hiding the real economic troubles of Northern Ireland.

At a former butcher’s shop, stickers applied to the windows show a packed meat counter and give the impression that business is booming. Across the street, another empty unit has been given a makeover to look like a thriving office supply shop.

Locals are unimpressed.

Local councils in Northern Ireland have painted fake shop fronts to hide the economic hardship being felt in towns and villages near the golf resort where G8 leaders will meet this month.

Northern Ireland’s government has spent 2 million pounds tackling dereliction over the past two years. Almost a quarter of these funds were freed up in anticipation of Britain hosting the annual Group of Eight (G8) summit on June 17-18. 

A dog stretches during his walk in front of a fake shop in Belcoo, Ireland on June 3, 2013. REUTERS/Cathal McNaughton

View our top photos from the past 24 hours.

The burden the economic crisis has place on young Greeks.

reuters:

Imagine you are 23 years old. Of your ten closest friends between 15 an 24 years old, six cannot find a job. You live in Greece. 

Greece’s February unemployment for young persons rose to 64 percent in February. In the early stage of their working lives, unemployed youths are limited by a recession which will take years to recover from. The average unemployment in Greece, of all ages, is around 27 percent. 

What would you do? 

Photo: REUTERS/John Kolesidis

 

Shocking figures show just how much of a knock the US economy has taken over the years. Lets hope the recovery doesn´t take too long.

“It’s incredible that nationally, more than 33,000 food stamp users have PhD or JD degrees, according to the Sacramento Bee March 30, 2013 article by Elaine Corn, an award-winning cookbook author and former newspaper food editor. She reports about food for Capital Public Radio, 90.9 FM in Sacramento.” - By: Anne Hart

emergentfutures:

More than 33,000 food stamp recipients hold accredited PhD or JD degrees in USA

Full Story: The Examiner

Very apt. Don´t slip! You could take the rest of the EU down with you!

stoweboyd:

Ben Wiseman makes the perfect political cartoon about the Italian elections.

And the Euro Crisis deepens. Just the first paragraph from the article below:

“THE threat of the euro’s collapse has abated for the moment, but putting the single currency right will involve years of pain. The pressure for reform and budget cuts is fiercest in Greece, Portugal, Spain and Italy, which all saw mass strikes and clashes with police this week (see article). But ahead looms a bigger problem that could dwarf any of these: France.”

theeconomist:

Tomorrow’s cover today: why France could become the biggest danger to Europe’s single currency.

Economics: World GDP is back on track.

Daily chart
The Economist online, economist.com

What crisis?

Growth in income per per­son is back to pre-crisis lev­els

DEVEL­OP­ING economies account for almost all of glob­al growth in GDP per per­son, accord­ing to the IMF. In 2011 they con­tributed some 80%, as advanced economies…

(via emergentfutures)

Economics: IMF warns of long road ahead to economic recovery

futuramb:

emergentfutures:

No recovery until 2018, IMF warns

Fund’s chief economist Olivier Blanchard says global economy will take a decade to recover from the financial crisis

Full Story: The Guardian

futuramb: What does he really mean with recovery? In the article the writer use the words “back in decent shape”…