EU unemployment hits new high showing austerity fails

Superfreak said:
Remember how you tried to pretend that the 'cuts' were cuts even though they still had the EU countries spending more than pre-crisis levels
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Oh, right. Remember the time you added "pre-crisis" to your criteria after your original criteria failed to achieve your desired results? That was cool, too.

LOLers.


Postscript: I admit that it's good to see that you learned from your prior mistake and remembered the "pre-crisis" caveat this time. I'm sooooooo proud of you!
 
Dungheap said:
Remember that time when you were, like, "show me ONE COUNTRY that had reduced spending" and then I showed you, like, 7 of them and added that the EU27 collectively reduced spending?

Good times.
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EU 27 spending in 2008 47.1 in 2012 49.4

Pretty sure your math skills need work. 49.4 > 47.1
 
Dungheap said:
Oh, right. Remember the time you added "pre-crisis" to your criteria after your original criteria failed to achieve your desired results? That was cool, too.

LOLers.


Postscript: I admit that it's good to see that you learned from your prior mistake and remembered the "pre-crisis" caveat this time. I'm sooooooo proud of you!
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Oh, yea... you really got me that last time, because I forgot I was dealing with an idiot who thinks the base year should be the crisis level spending year.
 
The Dude said:
When you go back o a year that's higher to be right doesn't work.
Poor supertool
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Dear toppy... 2008 is LOWER, not higher.

You go back to pre-crisis level spending because you are not supposed to treat that 10% (on average) bump in 2009 spending as the new norm.
 
Dungheap said:
Remember that time when you were, like, "show me ONE COUNTRY that had reduced spending" and then I showed you, like, 7 of them and added that the EU27 collectively reduced spending?

Good times.
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According to the charts I posted the spending appears to be going UP. But maybe you have something different?
 
Dungheap said:
I'm not digging it up again. Collective spending in the EU27 was down in 2011 from 2010.
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Well, if you can't prove it, then I don't fucking believe you. I do like how you pick out just one year though like trends over time don't matter. But, I guess if it proves your point what the fuck right? ;)
 
I Love America said:
Well, if you can't prove it, then I don't fucking believe you. I do like how you pick out just one year though like trends over time don't matter. But, I guess if it proves your point what the fuck right? ;)
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Uh, I've already proven it. Search the forum for Eurostat. I'm sure you'll find it.
 
I'll spare the suspense. The actual increase in spending from 2008 to 2009 across the EU27 is about 2.1% in Euro. I suspect spending as a percentage of GDP increased dramatically because GDP shrank.

And the percentage of GDP figures are really misleading. Take Greece as an example since it's been hit the hardest by austerity measures. In 2008 (SF's "pre-crisis" numbers), it spent about 117 Billion Euro. At the time, this amounted to roughly 50.6% of GDP. In 2012 it spent about 106 Billion, a cut from "pre-crisis" spending of 11 billion Euro which amounts to a 9.5% cut. However, when measured as a percentage of GDP, this same spending cut of $11 Billion Euro amount to an increase in spending of about 8%. And it's up as a percentage of GDP notwithstanding that the actual amount of Euros spent has decreased by 9.5% because Greece's GDP has continued to shrink and shrink and shrink.

So, yes, austerity is very, very real and is worse in some countries than others. Greece has been hit particularly hard.
 
Dungheap said:
I'll spare the suspense. The actual increase in spending from 2008 to 2009 across the EU27 is about 2.1% in Euro. I suspect spending as a percentage of GDP increased dramatically because GDP shrank.

And the percentage of GDP figures are really misleading. Take Greece as an example since it's been hit the hardest by austerity measures. In 2008 (SF's "pre-crisis" numbers), it spent about 117 Billion Euro. At the time, this amounted to roughly 50.6% of GDP. In 2012 it spent about 106 Billion, a cut from "pre-crisis" spending of 11 billion Euro which amounts to a 9.5% cut. However, when measured as a percentage of GDP, this same spending cut of $11 Billion Euro amount to an increase in spending of about 8%. And it's up as a percentage of GDP notwithstanding that the actual amount of Euros spent has decreased by 9.5% because Greece's GDP has continued to shrink and shrink and shrink.

So, yes, austerity is very, very real and is worse in some countries than others. Greece has been hit particularly hard.
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So here is the fundamental question. Should the Germans keep working harder, and harder and harder so the rest of the EU can keep living life on the hog? Additionally, isn't this proof that the whole concept of the EU and a single currency was a failed idea?
 
I Love America said:
So here is the fundamental question. Should the Germans keep working harder, and harder and harder so the rest of the EU can keep living life on the hog? Additionally, isn't this proof that the whole concept of the EU and a single currency was a failed idea?
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The euro is way up vs the dollar last ten years
 
I will post this link again, because I think graphs are much easier to grasp than actual numbers.

http://mercatus.org/publication/fiscal-austerity-europe-doesnt-mean-large-spending-cuts

It might be helpful if people defined what it is they consider austerity. Looking at these charts, I don't see what I would consider "massive spending cuts". Now, I realize that to a liberal if they don't get a spending increase that they want it equates to a "massive spending cut". But, in the real world where the rest of us have to live, this is not so.
 
I Love America said:
So here is the fundamental question. Should the Germans keep working harder, and harder and harder so the rest of the EU can keep living life on the hog? Additionally, isn't this proof that the whole concept of the EU and a single currency was a failed idea?
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Maybe you haven't kept up with the news, but I'd hardly describe the Greek people as "living life high on the hog."
 
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