Yes believe it. The unemployment rate in Spain is currently 25.9% – coming in “lower” than expectations.
Can you get your head wrapped around that?
One in four people sitting around sipping espresso, then leisurely strolling “la rambla” In Barcelona are flat-out 100% unemployed.
How can this be possible? Where does the money come from to support this? How are they not barefoot, starving in the streets, grovelling for pennies as the “rich Mexican tourists” saunter by?
Current unemployment in Mexico is 4.8%.
But I’m sure while sitting there at your local Starbucks, possibly overhearing a conversation from a couple of “spaniards” at the table next to you, with their stupid pink cardigans, horrible plaid shirts, and fancy flat leather shoes you’ll say “Oh my! I think those gentlemen are from Spain!” Oooh! Spanish!
While the hard working Mexican kid wipes down your table, and asks if there’s anything else he can get you!
What the hell has it come to, where hard working people continue to take the short end of the stick as the “entitled” just keep dragging this thing down, down, down?
Shame on you Spain!
Get off your ass and go get a job you bums!
Are you losing it Kong?
Lol, this is a funny post Kong! I see the same thing here in Santiago, Chile. All the Peruvians and Colombians work their asses off here and the sometimes lazy Chileans complain about the high prices and lack of jobs, sitting around at Starbucks also…
This post is very reminiscent of what is happening next door in Argentina, where they have exploding unemployment and massive entitlement programs. Take from Peter to give to Paul….
I’m still waiting to hear back as to how I may be “losing it”, as yes this is very much the way it is in many parts of the world.
Eventually it will turn, as those who are willing to “do the work” continue to save money, send home, buy things , contribute…..while the “entitled” stand around in welfare lines, watching for food stamps blowing in the wind.
Same here in UK.
The “foreigners” who are “stealing” the low paid jobs, live frugal lives, 8/10 people to a room, sometimes below minimum wage, long hours to save their money and send it back home whereas the UK residents are too proud to do certain jobs, sit around complaining about the foreigners stealing their jobs.
Here in UK, low paid workers can get low income government benefits to top up their income but many still refuse to work claiming what they would get from working is only slightly above that which they would get from not working (in the form of unemployment benefits). Go figure :-/
Call me crazy but there it is again – you’ve got it 100%.
I’ve said it a thousand times – you can’t “blame” a person who’s willing to do the work, make sacrafices etc…
Stealing jobs?? Hilarious eh? The bloated / fat ass / entitled “first world countries” are in for a surprise, as it’s the “emerging economies” that show the most promise.
Hmmm…and I wonder why?? Cuz people get up and do the work!
I know lots of guys working here in Mexico for a little more than 12 bucks a day, oddly – not a single complaint, sitting at the same bar as I, drinking the same beer, laughing with their families and wearing the same Nike’s as me too!
Nikes NOT bought on credit.
Hi Warren & Kong,
You guys aren’t losing it, you’re seeing it.
I’m saddened to learn that the contagion of living large off the other guy’s sweat is also thriving in S. America.
Maggie & Ronnie said, “Socialism is fine until you run out of the other guy’s money.”
Alexis de Tocqueville said, “The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.”
Don’t know who said this, “The best thing you can do to help the poor is to not become one of them.”
Most of us are motivated to help the folks truly in need. That takes money and time.
All the best,
Great stuff Dev.
So the world turns.
Spot on Dev, being from the States and all the entitlement programs that are there, fortunately I can say there is less of that here in Chile. However, globally socialism is on the rise in first world countries, despite record defects. Emerging markets are the place to live, work, invest for the rest of my lifetime, of this I have no doubt.
Loving the action today, a little bounce to work off the oversold conditions, I think it will probably do the same tomorrow, as many traders are waiting for Yellen to yell…☺
You’ve hit a nerve here Kong, great stuff.
There’s a hundred hours worked each week in this house between me and the (immigrant!) misses. She’s the hardest working person I know – ZERO days sick in 5 years. She works when sometimes she shouldn’t. We both do what it takes. I openly invite anyone to knock on my door and say she’s stollen their job – she’s super earned it. I have a knuckle sandwich ready made for all who come knocking.
As for the Spanish unemployment rate, I’m not sure it’s that high purely thro a lazy choice. Sorry to disagree slightly Kong.
And as for your mental state, anyone who’s mind works like yours Kong has to be little cuckoo. Often great things pour from such minds. It is in no way an insult.
Super cool Q.
Exact same story with my wife ( she’s Mexican ) and the hardest working gal I’ve ever met. Never a single complaint either.
Yes your’re right – the Spanish unemployment of course….you know me – I make a headline out of it, and get people thinking.
I’ts a simply ridiculous number and I’m sure there’s alot more to it.
Go go go…thanks for the input!
Q & Kong,
Our wives must be triplets from different mothers! My wife is Chinese (now a US citizen) and perfectly fits your descriptions.
>>globally socialism is on the rise in first world countries,
That kills me Warren. How can it be that liberals/progressives want to revert back to a system of government and economics that has failed every time over the last 100+ years? Sure, it feels good in theory but that’s about it. I’ve posed that question to several high-ranking liberals over the years and it’s never been answered.
(I suspect it is really a power-grab in sheep’s clothing.)
China, still a Marxist regime, only became an Emerging Market after they adopted capitalist-free-market protocols in their own twisted way. (Too many others to mention here.)
Many of the socialist European and Scandinavian countries moved away a bit after the 2008/2009 crash. They privatized some industries and trimmed the fat off of government employee pensions and benefits.
Bye for now.
Kong. First of all the Spanish employment rate came in higher than expected, not lower. it was actually expected at 25.6% and came in at 25..9%, but still that is HIGHER, not LOWER. Attention to detail man. WOW! Spain just got worse, no surprise there.
Second of all, as a long term reader and follower of your blog since 2012…… you are a much better blogger than you are a ranter. Lately you have been ranting and ranting, and we who have followed you for a long time actually don’t need to hear you rant because you have written top class articles and posts using quality information and strategy.
Yet for some reason these days you seem to be losing your touch mate and simply ranting about `YOU` who is wrong, which is clearly `THEY,` the gutless fools who piddle along on the hub of the US govt bullshit.
Yet this ranting only brings you down bro. I used to read you every day until a few months ago when you started ranting about others and forgot blogging about the fundamentals, strategy, macro economics and what not.
Stop ranting mate. Start blogging again.
From a valued reader.
Good good Casa – I can certainly appreciate your angle, and thank you for the correction – I hope readers caught it. Unemployment indeed came in “higher”.
And ya the blog…..well….as the “provision of completely free content” dwindles/twists/turns – “looky -loos” will likely look elsewhere. Fair enough.
I apologize if I’m not able to retain your interests – day in / day out.
It’s a funny thing really – this blogging thing. I don’t know what I’m going to write minute to minute – it just comes out so…I’ve got to just “go with that” and let readers make their own decisions.
Thanks for the input as I do appreciate it.
Feel free to “pop in” at your convenience, as perhaps you’ll enjoy my “live cooking classes” and recipes soon to follow.
These posts are becoming more abstract. A cynical me would say they are to detract from any actual trading ideas. Shame I used to find posts here interesting.
I apologize Anon as it’s been a whole lot of work over the past month, attempting to juggle all of this.
We are well on our way now at http://www.forexkong.net/getting-started-start-here/ where the trade ideas are outlined weekly, then discussed and implemented in real time via the daily strategy.
Unfortunately, I’ve not been able to commit the same amount of time and energy “to both” during this transition.
I dare say “you’ll find all the trade ideas and analysis you like” – over at the Members site.
You can email me directy at [email protected] for more info.