Posts
This information surely presents a bleaker outlook for a satisfactory ending to Europe’s debt woes.
Spain leads the charge, (23.3%), followed by Greece (19.9% in November 2011), Ireland and Portugal (both 14.8%). Notice that the countries leading the pack of debt woes are also leading the unemployment woes inferring that those countries are going to struggle significantly to meet any terms of any bailout packages. It’s bad enough collecting taxes from the legally employed in those countries so one can imagine where the tax revenue is going to come from given that 20% of Greeks are out of work.
The report that came with the news (FULL VERSION HERE) indicated that compared with a year ago, the unemployment rate fell in ten Member States, remained unchanged in two and rose in fifteen Member States.
When we look at under 25 year old unemployment, the numbers are staggering, In January 2012, the youth unemployment rate was 22.4% in the EU27 and 21.6% in the euro area. In January 2011 it was 21.1% and 20.6% respectively. The lowest rates were observed in Germany (7.8%), Austria (8.9%) and the Netherlands (9.0%), and the highest in Spain (49.9%), Greece (48.1% in November 2011) and Slovakia (36.0%).
Clearly a serious recession / depression is setting up in the EU for sure Dan. In the mean time CASH!!! is king.
ReplyDeleteEnjoy your weekend.
Bill
Dan,
ReplyDeleteIt looks like qqq is flattening out and about to roll over. Are you still holding your march 60 puts?
Of course in this twilight zone of governement intervention maybe aaple will continue to drag it higher forever. The rally sure looks exhausted to me but I've been thinking that for a while now.
I appreciate all your insight, time and energy you put into this blog and just wanted to say thanks.
Cheers!
This morning, in an exclusive interview, London whistleblower Andrew Maguire told King World News that the launch of a physical gold and silver exchange in China was interfered with and subsequently killed by a New York based entity with very powerful Chinese connections. Maguire also said Wednesday’s smash in gold and silver was blatant maniuplation. Here is what Maguire had to say about the situation: “Well, Eric, it couldn’t have been more blatant (intervention in the gold market) could it? Talk about not worrying about hiding your footprints. This was obviously sanctioned somewhere at a higher level because the amounts of contracts, paper contracts that hit the market, all at once, within seconds of each other, this was not normal trading.”
ReplyDeleteWhat was I saying.........
Hi JD;
ReplyDeleteYes, still holding the QQQ puts. Will be looking at them in greater detail next week. Thank you for the kind words.
Got It Right;
ReplyDeleteI always appreciate your input. EVERYONE on King World News has cried the same thing .... Just because they cry the same story doesn't make it true.
He said it was blatant manipulation.....yet he offers no proof just his own opinion. All these guys are regurgitating the same rhetoric. PROOF is what I need not the same lod story told by a different mouth piece and they all use circumstantial "theories" to prove their point all the while never providing proof.
With respect,
Dan
Thanks Dan. We agree to disagree. Cheers as always
ReplyDelete