Well some unemployment numbers are out…… no I’ll wait for tomorrow for the US. But, for Greece they have some numbers. They seem to have their own competition with Spain.
ATHENS (Reuters) – Unemployment in Greece climbed to a new record of 26 percent in September, topping that of Spain to become the highest in the euro area, data by Greece’s statistics service ELSTAT showed on Thursday.
Greece’s jobless rate has almost tripled since it started climbing in September 2009, driven higher by the global financial crisis and then by severe austerity policies imposed by the bailed-out country’s international lenders.
Unemployment is more than double the euro zone average of 11.6 percent, edging past the rate in struggling Spain, which was 25.8 percent in September, according to data from European statistics agency Eurostat. Greece’s jobless rate climbed from a revised 25.3 percent in August.
Here’s what I don’t get. It’s been over 3 years since the date referenced. The people in Greece, the ECB, the IMF, and all of the other pinheads can’t see that what they’re doing isn’t working? How long do they have to be wrong before they acknowledge that their statist view of economics is a failed view? Likely, they will never acknowledge this, but clearly they aren’t doing the things necessary to turn that little economy around. No amount of tax increases, loans and haircuts are going to fix this mess. And the mess only becomes larger the longer this goes on.