If Spain's problem is debt, then why is the market's solution to have a 60% youth unemployment rate? These are able-bodied young men and women, right?

I mean, this is just me, but if my problem was debt, I think I would try to work more.

Yours Truly,
Confused Frog

1/31/2012 1:26:02 PM

Government debt is not the same thing as personal debt. When your government is neck deep in debt, the rational thing to do as a worker is work less, as a bankrupt government is sooner or later going to either try to take whatever you earn or make whatever you earn worthless through currency devaluation.

1/31/2012 3:04:03 PM

Pretty easy.

The youth wants to work, but not for free.
The gvnmt wants them to work, but they don't have money.

Where is all the money?

In the hands of 1%.


Who is getting taxed the least?

The 1%.

1/31/2012 3:25:14 PM

If Spain were a freer market, the youth unemployment rate wouldn't be 60%

[Edited on January 31, 2012 at 3:55 PM. Reason : -]

1/31/2012 3:48:51 PM

^ Is the Eurozone a free market?

Is the global economy not a free market between nations?

1/31/2012 3:51:55 PM

Yes, the Eurozone is a free market in most respects, such as capital, retail, service, and physical trade. However, most countries have oppressively regulated labor markets making it difficult to fire workers.

1/31/2012 4:01:00 PM