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Forum Post: 20 signs that Europe is plunging into a full-blown economic depression

Posted 6 years ago on Feb. 1, 2012, 6:43 a.m. EST by Scout (729)
This content is user submitted and not an official statement

" An economic nightmare is descending on Europe. With each passing month, the economic numbers across Europe get even worse. At this point it is becoming extremely difficult for anyone to deny that Europe is plunging into a full-blown economic depression. In fact, some parts of Europe are already there. In Spain the overall unemployment rate is over 22 percent, and in Greece one out of every five retail establishments has already been closed down. All over Europe, economic activity is rapidly slowing down, unemployment is skyrocketing and bad debts are unraveling. It isn’t even going to take a default by a nation such as Greece or a collapse of the euro to push Europe into an economic depression. All Europe has to do is to stay on the exact path that it is on right now and it will get there. "




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[-] 1 points by nickhowdy (1104) 6 years ago

No shit...Read ZeroHedge and then try some porno for palliative therapy...

[-] 1 points by nomdeguerre (1775) from Brooklyn, NY 6 years ago

And it's being accelerated by austerity and treating debt as the problem. The problem has been caused by out of control predatory banksters. Unfortunately they control the EU and the IMF.

[-] 1 points by Libertarianliving (149) 6 years ago

Well, it isn't surprising. That is the expected, guaranteed result of too much socialism. It never fails to happen. The other day I talked to the sister of a doctor living and practicing in Europe. I wish I could remember the country. 80% of the her, the Doctor's, income is taken from her in taxes. I guess she makes too much money compared to the guy who partied his whole life and now unloads trucks.

[-] 1 points by epa1nter (4650) from Rutherford, NJ 6 years ago

Socialism was no more the cause there than here. It was a combination of capitalism, irresponsible banking, the austerity measures that made the moderate problems far worse, and the structure of the Euro itself that caused it.

[-] 1 points by kingscrossection (1203) 6 years ago

They're as bad as the damn unions.

[-] 1 points by Libertarianliving (149) 6 years ago

It is all in the name of "fairness".... The "have nots" WANT what the "haves" have. They feel they deserve it. Imagine 80 friggin% of your income being taken by the government so it can "function". All those years of burying your nose in books, and labs. All night internships. After all that work and sacrifice, you don't have much more than the guy who wants to sit home and paint. The girl who partied until she quit school in 10th grade and popped out a few kids. At least one she isn't sure who the father is.

[-] 1 points by kingscrossection (1203) 6 years ago

This is obviously an overzealous generalization but you are completely right. If i create a cure for cancer then I should be taxed differently than someone who cleans shit out of toilets.

[-] 1 points by Revolutionary (311) 6 years ago

It is not only Europe but USA too shall soon be in the grip of deep deep depression.

[-] 1 points by ohmygoodness (158) 6 years ago

some way off :)

[-] 0 points by PoIemarchus (56) 6 years ago

Conspiracy theory mumbo jumbo aimed at scaring people.

[-] 0 points by owsleader2038 (-10) 6 years ago

Pay no attention to this stuff, the USA is in far more economic harms' way than Europe.

Everybody in Europe know their will be riot's across the USA, nobody is predicting such in Europe.