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Youth Without Hope: 60% Unemployment

Written by Gary North on May 14, 2013

Greece has a 60% unemployment rate for people in the 18-25 age bracket.

Think of this. This is a generation that is unlikely ever to save their career plans out of the recession that has overtaken Greece and is getting worse.

It will mar them for the rest of their lives.

The experts said this was impossible in 2007. The experts were Keynesians. They wanted us to believe that Keynesian policies can always overcome recession.

This is not recession. This is depression. But Keynesianism is not working as planned.

The bankers in northern Europe believed the hype. They lent money to Greece’s government and businesses. Now they need bailouts from the European Union — the government — and the central bank, and the IMF. They care nothing about Greece. They just want someone to pay interest on their loans. They are getting what they ask for.

Greece isn’t.

We are told that it can’t happen here. Yes, it can.

We are assured it will never happen here. Yes, it will. If the Federal Reserve stops inflating, it will.

At some point, it will stop inflating — either before hyperinflation or after.

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14 thoughts on “Youth Without Hope: 60% Unemployment

  1. If they get away with it marrring just one generation, they will be lucky. More likely it will be two or three.

  2. "The experts said this was impossible in 2007. The experts were Keynesians."

    10 years ago, the "experts" also told us that because of "global warming" snow would be a thing of the past that we would have to describe to our grandchildren. After our grandchildren have just experienced one of the coldest winters on record. Tells you something about self-proclaimed experts.

  3. Bob Marshall says:

    Black youth unemployment in the US is at 40%.

  4. Seymour Kleerly says:

    I doubt seriously you're correct, but regardless the last ten years have been the warmest on record. Turn off the Pro Polluter Fox News and read non partisan statistics, like NASA.

  5. MorningMan says:

    You mean the government funded NASA? Turn off the Soros CNN and quit believing the fear. Try faith for a change

  6. MetaCynic says:

    What's even worse for Greece and all other welfare states is that their pension and retiree healthcare systems are funded by the taxes paid by the younger working age generations. With the retiree population growing rapidly and the working age generations either unemployed or underemployed and themselves collecting welfare, where will the money come from to fund current retirees? The welfare state is truly doomed.

  7. Hahahaha. "…seriously doubt…". You tipped your hand. Who watches Fox News anymore? An acquaintance who was a flight engineer on the Apollo missions said it was an inside joke at the space center that NASA stood for "Never A Straight Answer".

    Global warming has been politicized ever since the leaked emails at the U. of Pa. and Hadley CRU's about "we got to hide the decline" to keep the government funding. Man, you are a shill down there with the worst of 'em.

  8. Just curious. How many of these youngsters voted for or would want to vote for our Marxist in Chief? Oh well, nothing here to discuss.

  9. Seymour Kleerly says:

    You're buying the same lies from the polluters that have been going on for over a century. It's all about GREED!

  10. Seymour Kleerly says:

    This title will probably trick many Righties into thinking the 60% refers to the USA.. It's what they do!

  11. Bob Marshall says:

    Black youth unemployment in the US is 40%.

  12. If you don’t want to get shot, don’t be a drug dealer. If you don’t want to be Greece…

  13. Seymour Kleerly says:

    Well that sure overcomes the opinion of 97% of the world scientists!

  14. ggleyzer says:

    seymour, even NYT admitted that temps didn't increase over the last 15 years.So, where did you get the 'warmest ten years?" Oh, wait, I am sorry, I didn't mean to post facts and reveal your lies seymour un-kleerly.