Posted Jun 5, 2013 by Martin Armstrong
Unemployment among the youth in the USA has hit 16.2%, more than double the April national rate of 7.5% for adults over 35. We are in the last throes of the dying idea of Socialism and this is never more illustrated than by the age divide when it comes to employment. Young kids in the USA are saddled with huge debt for school loans that have done them little good. Those who are employed, are doing waitress/waiter type jobs that they did while going to school. This still pales in comparison to youth unemployment rates in Southern Europe and elsewhere in developing nations. Cheer up, the youth unemployment rate in the USA will soar to 25% between 2016-2020 if not rising closer to 30%.
We have seen major riots in Sweden over youth unemployment where the ratio is actually the highest between the youth and the 35+ crowd – 4.2:1. Nevertheless, the empirical unemployment rates in Europe are setting the stage to collapse the entire European social structure. They can reestablish boarders to prevent movement, but the system is completely unworkable and will collapse. The hunting of the rich has reduced investment that creates jobs and that accelerates the youth unemployment. The youth are practical and do not want to hear the same old bullshit that taxing the rich will somehow benefit them. They want jobs that government is destroying. This is part of the business cycle we must come to grips with. This is the driving force into 2032.
It is not inflation we have to worry about – it is massive deflation of a grand scale.