Youth unemployment in Greece and Spain above 50 percent

Europe’s Record Youth Unemployment: The Scariest Graph in the World Just Got Scarier – Derek Thompson – The Atlantic:

My God, look at Greece’s trajectory. That thing isn’t slowing down. Since April 2012, Greek youth unemployment has grown by about one percentage point a month. At that rate, it would pass 70 percent in early 2014.

It is suddenly not insane to imagine a youth unemployment rate of 70 percent in the developed world. And that is insane.

Mind-boggling. I’d be rioting too.

The United States will never turn into Greece

No, the United States Will Never, Ever Turn Into Greece:

To translate from stats-speak: our equation for non-euro countries tells us increasing debt by 1 percentage point of GDP only increases borrowing costs by 1.3 basis points. And that result isn’t even statistically significant. In other words, there is no evidence of a debt tipping point for countries that borrow in money they can print.

Yay for statistical evidence!