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.
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!