Unemployment brings deeper Greek poverty

Posted in the Minneapolis Forum

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1 - 13 of 13 Comments Last updated Feb 26, 2013
Obama is Proud

Ankeny, IA

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Feb 24, 2013
 

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Unemployment in Greece rose to a record 27 percent in November as a result of the financial crisis and austerity measures that will leave, according to one survey, nearly a third of the population in poverty by the end of the year.

The Statistics Agency said unemployment increased from a rate of 26.6 percent in October and 20.8 percent in November the previous year. More than 30,000 people lost their job in November, the agency said, with the jobless rate accelerating from earlier in the year.

Worst affected are the young, with 61.7 percent of those in the 15-24 age group without a job.

Greece is mired in the sixth year of a recession, and has been relying for nearly three years on international rescue loans to keep it afloat. In return for the bailout, the government has imposed major spending cuts and tax hikes which have hammered the economy, causing an increase in poverty and forcing thousands of businesses to close.

The economy contracted a further 6 percent in the fourth quarter of 2012 from the previous year, the statistics agency said. That followed annual contractions of 6.7, 6.4 and 6.7 percent in the previous three quarters.New tax hikes that went into effect this month have added pressure on the shrinking workforce: 3.6 million Greeks remain employed, but 3.3 million are registered as inactive and 1.35 million are unemployed.

http://www.hurriyetdailynews.com/unemployment...
goose

Hopkins, MN

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#2
Feb 24, 2013
 
Coming to America if we stay on the current path.
Bushwhacker

Seattle, WA

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#3
Feb 24, 2013
 

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Brought to America, by bushwhacker and cheney.

“We have 545 traitors.”

Since: May 11

Parts Unknown

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#4
Feb 24, 2013
 

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Greece just needs to raise taxes on the last of the rich greeks. Works every time I guess.
Bushwhacked

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Feb 24, 2013
 

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Wealth inequality in the United States, also known as the "wealth gap", refers to the unequal distribution of financial assets among residents of the United States. Wealth includes the values of homes, automobiles, businesses, savings, and investments.[2] Those who acquire a great deal of financial wealth do so primarily through the appreciation of fiscal portfolios. For this reason, financial wealth involves only stocks and mutual funds, and other investments. Hence, there is greater financial inequality than simple net worth disparities. Various sociological statistics suggest the severity of wealth inequality "with the top 10% possessing 80% of all financial assets [and] the bottom 90% holding only 20% of all financial wealth."[3] Although different from income inequality, the two are often interrelated.

Melvin L. Oliver and Thomas M. Shapiro propose that wealth signifies the opportunity to "make it" in life; wealth is not used for daily expenditures or factored into a budget but when coupled with income it comprises the family's total opportunity "to secure a desired stature and standard of living, or pass their class status along to one's children".[4] Moreover, "wealth provides for both short- and long-term financial security, bestows social prestige, and contributes to political power, and can be used to produce more wealth."[5] Hence, wealth possesses a psychological element that awards people the feeling of agency, or the ability to act. The accumulation of wealth grants more options and eliminates restrictions about how one can live life. Dennis Gilbert asserts that the standard of living of the working and middle classes is dependent upon income and wages, while the rich tend to rely on wealth, distinguishing them from the vast majority of Americans.[6]

A 2011 study found that US citizens across the political spectrum dramatically underestimate the current US wealth inequality and would prefer a far more egalitarian distribution of wealth.[7]
Bushwhacker

Minneapolis, MN

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#6
Feb 24, 2013
 
Bushwhacked wrote:
Wealth inequality in the United States, also known as the "wealth gap", refers to the unequal distribution of financial assets among residents of the United States. Wealth includes the values of homes, automobiles, businesses, savings, and investments.[2] Those who acquire a great deal of financial wealth do so primarily through the appreciation of fiscal portfolios. For this reason, financial wealth involves only stocks and mutual funds, and other investments. Hence, there is greater financial inequality than simple net worth disparities. Various sociological statistics suggest the severity of wealth inequality "with the top 10% possessing 80% of all financial assets [and] the bottom 90% holding only 20% of all financial wealth."[3] Although different from income inequality, the two are often interrelated.
Melvin L. Oliver and Thomas M. Shapiro propose that wealth signifies the opportunity to "make it" in life; wealth is not used for daily expenditures or factored into a budget but when coupled with income it comprises the family's total opportunity "to secure a desired stature and standard of living, or pass their class status along to one's children".[4] Moreover, "wealth provides for both short- and long-term financial security, bestows social prestige, and contributes to political power, and can be used to produce more wealth."[5] Hence, wealth possesses a psychological element that awards people the feeling of agency, or the ability to act. The accumulation of wealth grants more options and eliminates restrictions about how one can live life. Dennis Gilbert asserts that the standard of living of the working and middle classes is dependent upon income and wages, while the rich tend to rely on wealth, distinguishing them from the vast majority of Americans.[6]
A 2011 study found that US citizens across the political spectrum dramatically underestimate the current US wealth inequality and would prefer a far more egalitarian distribution of wealth.[7]
YES! Slewsie dear, you are back. Now go for the gold. Get to that magic 1,000 comment mark in one day. I believe in you hun.
DSM Local

Ankeny, IA

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#8
Feb 25, 2013
 

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If the rich pay their fair share we too can handle an unemployment rate of 61.7% for all the young people, who will then live on food stamps and become worthless adults, come on oBOMBa we believe in Change
DSM Local

Ankeny, IA

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#9
Feb 25, 2013
 
Bushwhacker wrote:
Brought to America, by bushwhacker and cheney.
Bolo
Bushwhacker

Seattle, WA

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#10
Feb 25, 2013
 

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Wealth inequality in the United States, also known as the "wealth gap", refers to the unequal distribution of financial assets among residents of the United States. Wealth includes the values of homes, automobiles, businesses, savings, and investments.[2] Those who acquire a great deal of financial wealth do so primarily through the appreciation of fiscal portfolios. For this reason, financial wealth involves only stocks and mutual funds, and other investments. Hence, there is greater financial inequality than simple net worth disparities. Various sociological statistics suggest the severity of wealth inequality "with the top 10% possessing 80% of all financial assets [and] the bottom 90% holding only 20% of all financial wealth."[3] Although different from income inequality, the two are often interrelated.
Melvin L. Oliver and Thomas M. Shapiro propose that wealth signifies the opportunity to "make it" in life; wealth is not used for daily expenditures or factored into a budget but when coupled with income it comprises the family's total opportunity "to secure a desired stature and standard of living, or pass their class status along to one's children".[4] Moreover, "wealth provides for both short- and long-term financial security, bestows social prestige, and contributes to political power, and can be used to produce more wealth."[5] Hence, wealth possesses a psychological element that awards people the feeling of agency, or the ability to act. The accumulation of wealth grants more options and eliminates restrictions about how one can live life. Dennis Gilbert asserts that the standard of living of the working and middle classes is dependent upon income and wages, while the rich tend to rely on wealth, distinguishing them from the vast majority of Americans.[6]
A 2011 study found that US citizens across the political spectrum dramatically underestimate the current US wealth inequality and would prefer a far more egalitarian distribution of wealth.[7]
DSM Local

Ankeny, IA

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#11
Feb 26, 2013
 
Bushwhacker wrote:
Wealth inequality in the United States, also known as the "wealth gap", refers to the unequal distribution of financial assets among residents of the United States. Wealth includes the values of homes, automobiles, businesses, savings, and investments.[2] Those who acquire a great deal of financial wealth do so primarily through the appreciation of fiscal portfolios. For this reason, financial wealth involves only stocks and mutual funds, and other investments. Hence, there is greater financial inequality than simple net worth disparities. Various sociological statistics suggest the severity of wealth inequality "with the top 10% possessing 80% of all financial assets [and] the bottom 90% holding only 20% of all financial wealth."[3] Although different from income inequality, the two are often interrelated.
Melvin L. Oliver and Thomas M. Shapiro propose that wealth signifies the opportunity to "make it" in life; wealth is not used for daily expenditures or factored into a budget but when coupled with income it comprises the family's total opportunity "to secure a desired stature and standard of living, or pass their class status along to one's children".[4] Moreover, "wealth provides for both short- and long-term financial security, bestows social prestige, and contributes to political power, and can be used to produce more wealth."[5] Hence, wealth possesses a psychological element that awards people the feeling of agency, or the ability to act. The accumulation of wealth grants more options and eliminates restrictions about how one can live life. Dennis Gilbert asserts that the standard of living of the working and middle classes is dependent upon income and wages, while the rich tend to rely on wealth, distinguishing them from the vast majority of Americans.[6]
A 2011 study found that US citizens across the political spectrum dramatically underestimate the current US wealth inequality and would prefer a far more egalitarian distribution of wealth.[7]
copy and paste straight from Wikipedia, as a response... ha
Fred

Seattle, WA

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#12
Feb 26, 2013
 
Wiki is a great source, feel free to disprove it. Oh, you had no intention to bring intelligence...??
DSM Local

Ankeny, IA

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#13
Feb 26, 2013
 
Fred wrote:
Wiki is a great source, feel free to disprove it. Oh, you had no intention to bring intelligence...??
Okay I'll just go change it to say Slew is a Bolo, then cite your GREAT source
Bushwhacked

Seattle, WA

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Feb 26, 2013
 

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I kinda wonder, if new folks think you're NUTZ !!! LMAOROTFU~! Poor teabagger.... loser.

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