Sovereign debt bubble thread

[MadImmortalMan]

Now it's up to 40%.

Jesus. So if I go to Malaga or Seville, almost half the people I see will be unemployed? I don't understand how a society can function like that. These dudes must be doing all kinds of off the books cash transactions with each other.

[Iormlund]

It's worst in Huelva and especially Cádiz. And yes, there has to be all sorts of submerged economy, though bear in mind those numbers do not include people that went back to school or are receiving any kind of training so it goes both ways.

Many people down there work during tourist season and live off benefits or savings the rest of the year. And then there's PER, which is basically a subsidy for those who work a few weeks a year in agriculture.

[The Larch]

IIRC there are three Andalusian provinces (Cádiz, Huelva and Jaén) where unemployment is higher than 40%, the highest in all of Spain. The top 5 provinces by unemployment are all Andalusian. It must be a hellhole down there.

[Iormlund]

Yeah. It's bad enough here and it's half of that.

How did your situation work out, btw?

[Neil]

So when do the political streetfights start that will lead the Nazis or commies to power?

[The Larch]

Yeah. It's bad enough here and it's half of that.

How did your situation work out, btw?

I've been freelancing since last year.

[Iormlund]

So when do the political streetfights start that will lead the Nazis or commies to power?

Won't happen. Kids are used to rely on their parents well into their 30s (it was the only way to access a home). Can't have violence without them.

That being said, support for the commies has risen lately. OTOH nazis are still irrelevant.

I've been freelancing since last year.

I've been wondering if I should do my own thing if (when) I get laid off as well, but I can't see any chance of success in the current climate. How's that working out for you?

[The Larch]

So when do the political streetfights start that will lead the Nazis or commies to power?

Won't happen. Kids are used to rely on their parents well into their 30s (it was the only way to access a home). Can't have violence without them.

That being said, support for the commies has risen lately. OTOH nazis are still irrelevant.

Nazis are already in government. Or parading outside politicians' homes, depending on your side. 

I've been freelancing since last year.

I've been wondering if I should do my own thing if (when) I get laid off as well, but I can't see any chance of success in the current climate. How's that working out for you?

If you can manage to snatch foreign clients it can be doable. I've worked most of last year for Brits and this year for Dutchies.

[KRonn]

Wow, that's nasty unemployment in parts of, or most of Spain. How does Spain fare among other EU nations with unemployment? I assume Greece is worse but aside from that, are unemployment rates  getting better or worse overall in the EU?

[The Larch]

Wow, that's nasty unemployment in parts of, or most of Spain. How does Spain fare among other EU nations with unemployment? I assume Greece is worse but aside from that, are unemployment rates  getting better or worse overall in the EU?

No, I believe Spain's unemployment rate is the worst in all the EU by far. It has always been like that, our unemployment rates are atrocious since long before the crisis.

[Zanza]

Greece has recently overtaken you...

Data

@KRonn: unemployment is at a record high in the EU this month, so it's getting worse.

[The Larch]

Damn, can't even win at that anymore.  First Bayern, then Borussia, now this?

[crazy canuck]

What solutions are being proposed?

Within Spain, I mean.

[The Larch]

What solutions are being proposed?

Within Spain, I mean.

Nothing. The government is trying to sell us that, since unemployment isn't growing so fast anymore their policies are a success.

[alfred russel]

What solutions are being proposed?

Within Spain, I mean.

Nothing. The government is trying to sell us that, since unemployment isn't growing so fast anymore their policies are a success.

You have to admit, if you stick with the current policies long enough, it is only a matter of time before unemployment stops going up.