I have no idea, but Italy and France will fail first. No reforms, so it is just a question of time. De-evaluating debts with flodding the markets beyond control won’t work for sure.
Real-estate price has its reason to be on the rise.
And you really don’t have to be a smart guy to put the puzzle together.
Right now everybody is trying to keep the machine going on. Greta is right about the nonsense of constant growth to keep going on.
I predict that in my life time (me mid 40’s) something like 2008 for sure will occur again, but then it will be at a much larger scale (more like 1929) …
I think 2008 will happen again because those in leadership hasn’t learned their lesson. They think they can keep doing the same stuff that got them in trouble and expect different result…
I think the ford plant in cork was the first in Europe. The first Volkswagen made outside Germany was also made in Ireland. There were also Fiat, Renaud and opals made in Ireland. All those plants shut down funnily enough due to changing tax regiemes following EU membership
There’s a scene in the movie Lawrence of Arabia where L has helped the Arabs conquer Damascus but someone needs to supply water to 1 section of the city. An Arab pipes up that men in his tribe do not carry water. Exasperated Lawrence retorts “I will carry the water”. Same attitudes today
As long as the state is relying on people to register themselves (at the correct office) as unemployed, the number’s accuracy will depend on people’s willingness to do so. If they don’t expect to get anything worthwhile, why bother registering?
The state could simply take all the social insurance (or whatever they call it) numbers being reported by employers as actually involved in employment and compare it to the number of numbers assigned to people who are theoretically supposed to be working (i.e. not dead yet). Depending on how the pension system works, it may make sense to cut off the people who are at or above retirement age.
(If there is a significant number of fake social insurance numbers, of course, that complicates the situation. )
In Ireland we also put long term unemployed on ‘activation schemes’ and they don’t count as unemployed. Basically Germany looks like it has full employment .
This low unemployment rate was only achieved by the government pushing the wages way down for a lot of people. Policies that allow hiring people without contracts to be fired at will.
All policies benefiting the companies to make more profit.
Just saw this… It’s very true. Have you also noticed that they have been even more unsuccessful at kicking the Javanese of their island. 140 million people on one little island. Ever been to Java?