Eurozone unemployment total falls for first time in two years

  • Posted by a hidden member.
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    Jul 31, 2013 10:31 AM GMT
    The first drop in the eurozone unemployment total since April 2011 is a welcome sign that the region's economy may be bottoming out.

    http://www.theguardian.com/business/2013/jul/31/eurozone-crisis-live

    Another bear capitulates. @bondvigilantes concedes "euro is likely to be around much longer than some commentators currently expect".

    https://twitter.com/bondvigilantes
  • ASHDOD

    Posts: 1057

    Jul 31, 2013 6:56 PM GMT
    i hope thouse predictions will come true,otherwise,we r all fucked up. icon_rolleyes.gif
  • Posted by a hidden member.
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    Jul 31, 2013 8:04 PM GMT
    euro will survive indeed, but unemployment will stay sky-high for a long time. there's no single country able to gather the economic resources needed to push the consumers' demand, and therefore growth will be anemic, american-style for many years to come, and it's gonna be even worse for peripheral countries, because their debt spyral might kill them even before making it to the end of the tunnel. and there's no political will to prepare a european recovery program. so Europe it still just a "geographic expression" as Metternich said of Italy just 200 years ago.
  • awm55

    Posts: 619

    Jul 31, 2013 8:58 PM GMT
    somersault saidyou can thank all the dirt bag bankers for all this shit: rigged housing market collapse, bullshit credit rating agencies, interest rate rigging (LIBOR), structured finance ponzi schemes, commodity manipulation, on and on and on


    Its nice to blame everyone else isn't it? You conveniently forget to mention that Spain has one of the most rigid labour markets in the world and that much of the population in Europe's periphery refuse to accept any kind of cuts to their social benefits, salaries, or pensions while simultaneously dodging taxes like its a professional sport.

    Do you have any idea how the financial markets work outside what you read in anecdotal articles on the internet?
  • awm55

    Posts: 619

    Jul 31, 2013 8:59 PM GMT
    italianmisarc saideuro will survive indeed, but unemployment will stay sky-high for a long time. there's no single country able to gather the economic resources needed to push the consumers' demand, and therefore growth will be anemic, american-style for many years to come, and it's gonna be even worse for peripheral countries, because their debt spyral might kill them even before making it to the end of the tunnel. and there's no political will to prepare a european recovery program. so Europe it still just a "geographic expression" as Metternich said of Italy just 200 years ago.


    What do you mean by american-style anaemic growth? The U.S. has consistently grown faster than Europe over the past few decades and still is today.
  • awm55

    Posts: 619

    Jul 31, 2013 9:21 PM GMT
    somersault said
    awm55 said
    somersault saidyou can thank all the dirt bag bankers for all this shit: rigged housing market collapse, bullshit credit rating agencies, interest rate rigging (LIBOR), structured finance ponzi schemes, commodity manipulation, on and on and on


    Its nice to blame everyone else isn't it? You conveniently forget to mention that Spain has one of the most rigid labour markets in the world and that much of the population in Europe's periphery refuse to accept any kind of cuts to their social benefits, salaries, or pensions while simultaneously dodging taxes like its a professional sport.

    Do you have any idea how the financial markets work outside what you read in anecdotal articles on the internet?


    Yeah, and so does Italy, Portugal, Greece, France, Ireland and England.

    Yeah, I do - the douchebags at Goldman, Chase and Barclays should be in fucking prison


    You do realise that these companies employ tens of thousands of people right? Who specifically would you like to send to prison?
  • awm55

    Posts: 619

    Jul 31, 2013 9:53 PM GMT
    somersault saidlets see, we'll start with Blankfein, Jamie Dimon and Jenkins. Who gives a shit? These scum just shovel money money around like a bunch of idiot robots.

    No more honest bankers who make honest home, auto, business, education loans anymore. Just worthless asshole parasites.

    I see these dirt bags in New York every day.


    You clearly have never worked in financial services and know little to nothing about the industry. You are jumping on the populist banker bashing bandwagon and make arguments that cause those of us who work in the sector to laugh at and ridicule you because they are so misinformed.
  • awm55

    Posts: 619

    Jul 31, 2013 10:12 PM GMT
    somersault saidah hahaha I know enough to know that they all suck. Like how Chase has like 80% of the tradeable physical aluminum tied up in Detroit warehouses and they shuffle it around and bid up the price to fuck over Coke, Pepsi and Boeing.

    They are nothing but worthless shit. Capital formation, retirement funds . . ah hahahahahaha. Fucking blood money from skimming, legalized criminals.

    Get off your high horse and do something productive


    What do you do for a living?
  • awm55

    Posts: 619

    Jul 31, 2013 10:26 PM GMT
    somersault saidI just graduated Villanova with a BA in Psych, minor in Econ. Starting an MA program at UPenn this Fall in Psych.


    Your a Psych major and you have the nerve to say that those who work in finance are useless and unproductive? Really? Psych majors are the people who spend 160k on an education and then realise that they can't get a job so they have to go back to school.
  • Posted by a hidden member.
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    Aug 01, 2013 8:19 AM GMT
    awm55 said
    italianmisarc saideuro will survive indeed, but unemployment will stay sky-high for a long time. there's no single country able to gather the economic resources needed to push the consumers' demand, and therefore growth will be anemic, american-style for many years to come, and it's gonna be even worse for peripheral countries, because their debt spyral might kill them even before making it to the end of the tunnel. and there's no political will to prepare a european recovery program. so Europe it still just a "geographic expression" as Metternich said of Italy just 200 years ago.


    What do you mean by american-style anaemic growth? The U.S. has consistently grown faster than Europe over the past few decades and still is today.


    I meant that after the 2008 crisis, even the US are experiencing limited growth, up to 2%, and extremely slow job recovery, at least compared to what happened in precedent crisis scenarios. And of course the fact that the whole world economy slowed down, and that Europe is still in recession amid a sovereign debt crisis is definitely adding uncertainty. And let's not forget that both FED and ECB had to take unconventional measures - quantitative easing - to support this extremely limited growth. And about labour markets, I'm sorry but you got it wrong. Comparted to the US, EU labour markets have a generally tighter regulation and higher taxation, but Spain has indeed one of the most open ones. Employers are basically free to hire and fire, and the cost of firing has been sharply reduced by the new centre-right government of Mr Rajoy - somewhere around 6 months salary fee -. It was one of the first bills he passed. But with this economic climate, you can liberalize the job market as much as you like: it's a pre-condition for a faster recovery (maybe, that has to be demonstrated), but first something to promote consumption has to be made, as the crisis is generated by an incredible fall of demand. In Spain, a bank crisis caused by a housing bubble added up. They're basically screwed, and soon Eu - i.e. Germany - will have to intervene.
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    Aug 01, 2013 8:39 AM GMT
    awm55 said
    somersault saidyou can thank all the dirt bag bankers for all this shit: rigged housing market collapse, bullshit credit rating agencies, interest rate rigging (LIBOR), structured finance ponzi schemes, commodity manipulation, on and on and on


    Its nice to blame everyone else isn't it? You conveniently forget to mention that Spain has one of the most rigid labour markets in the world and that much of the population in Europe's periphery refuse to accept any kind of cuts to their social benefits, salaries, or pensions while simultaneously dodging taxes like its a professional sport.

    Do you have any idea how the financial markets work outside what you read in anecdotal articles on the internet?


    cut of social benefits: italy approved its 4th pension reform in 20 years, making it the most sustainable pension system of the western world. It provided a 80 billion euros savings over the next 10 years, and retirement age is linked to the actual life expectanc. Public salaries have been blocked for the past 5 years, a total loss of 10%. Public sector hiring ratio is 1 every 3 retiring worker. There is no minimum wage, and unemployment benefits are given only to people that held a job for the previous two years, or that belong to an industry that has more than 20 employees (in italy, that means less than 10% of industries). Not to mention the unbelievable tax increases. The point is, without growth, the debt/gdp ration increases automatically, so stop blaming people. Austerity only worsened the situation, and while moral hazard should definitely be taken into account, reaching an agreement on how to hold accountable the previous ruling politicians would have had a much better effect in restoring market confidence. Just look at what happened in Greece, Portugal, Ireland, Iceland, Cyprus, Latvia. Or what is happening in the Netherlands.
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    Aug 01, 2013 8:52 AM GMT
    Living in France, near the german border.
    France is one of the most productive country in the world. Sure the legal working time per week is 35 hours. Howerver, the majority work 40 hours, 60 in my field (whithout more remunaration). We are very productive, and think that we are wealthy enough to substain our way of living. Education and health are great. I just dont understand how the governement can spend so much money to help people who are unemployed (people who doesnt want to work). I'm unemployed atm, as Im moving to Oz soon, but I earn more from gouvernment income (25% more) than when I used to work. We should spend money to help people to create company (had to close mine 2 months ago, because of the tax increase), and give our money to companies, not individual, that apprently help the global consumption... well, I dont think it work, because Europe doesnt protect euro-firms, and we buy goods from the exterior, and help to creat job overseas, not in-situ.I used to work in Germany, merdeces factory, on my summer job, back in 2006. SUre germany has a strong econmy, as long as other euorpean still buy german goods (cars,...)For the 2 last months, germany start to be shaky, and it's just the start. the way of living in Germany is very low compare to France. People cross the (virtual) border every day , me as well. healthcare and retirement are peanuts in Germany. they have sometime better salaries, but if you take in look with a global point of view, germany is struggling, and gonna fail, if merkel and or incompetent french president cant make commun decisions.
    Last thing, the new transaltantic open market is on the way. WIll bring some wealth, but will also destroy lots of jobs, and industry in Europe, but in the US as well. Germany and France should have stay together, and not extending the Eurozone ( Croatia just join last month), bigger isnt stronger for me. The whole economy system should have been change, instead, we just put some urgent plaster on.