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10 Signs of U.S. & European Financial Crisis Explained

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Published on May 14, 2013

The signs of a global slowdown could not be more evident. Here are 10 signs that the global economy is not getting any better. http://DailySilverUpdate.com

#1 27 Percent Unemployment/ 60 Percent Youth Unemployment In Greece
The economic depression in Europe just continues to get worse with each passing month.  According to the Daily Mail, the unemployment rate in Greece has nearly tripled since 2009... Greek youth unemployment rose above 60 per cent for the first time in February, reflecting the pain caused by the country's crippling recession after years of austerity under its international bailout.

#2 Detroit, Michigan Is Insolvent And Is Rapidly Running Out Of Cash
I love to write about Detroit because it is a perfect example of where the rest of the country is headed.  They have just gotten there first.  At this point, Detroit is essentially bankrupt, and the new emergency financial manager is saying that Detroit may totally run out of cash next month...

#3 Economic Despair In France
France is going down the same path that Greece, Spain, Portugal and Italy have gone.  The following is an excerpt from a recent article in the Economist...
HELDER PEREIRA is a young man with no work and few prospects: a 21-year-old who failed to graduate from high school and lost his job on a building site four months ago.

#4 7,000 Abandoned Buildings In Dayton, Ohio
All over the upper Midwest, there are formerly great cities that are dealing with thousands of abandoned buildings.  Dayton, Ohio is one example...

#5 Overwhelmed By Squatters In Spain
In Spain, unemployment is rampant and people have become incredibly desperate.  In fact, in some Spanish cities you can now find entire apartment buildings that are being overwhelmed by squatters...

#6 The Collapse Of Chinese Power Consumption
Energy consumption tends to closely mirror economic activity.  That is why the recent collapse of Chinese power consumption is so alarming.  The following is from Zero Hedge...

#7 Horrible Economic Data Coming Out Of The Second Largest Economy On The Planet The economic data that has been coming out of the second largest economy on the globe has been quite alarming recently...
For starters, China's recent economic data, as massaged as it is to the upside, is downright awful. China's PMI numbers were the worst in two years. Staffing levels in the Chinese service sector decreased for the first time since January 2009(remember that year).

#8 One Out Of Every Five U.S. Households On Food Stamps
Back in the 1970s, about one out of every 50 Americans was on food stamps.  Today, even though we are supposedly in the midst of an "economic recovery", food stamp enrollment continues to soar to new highs.

#9 Child Hunger In America
Those that work for the big banks on Wall Street may have no problems feeding their children, but overall there is a rapidly growing child hunger crisis in America today.  Just check out the following statistics from one of my previous articles...
*For the first time ever, more than a million public school students in the United States are homeless.  That number has risen by 57 percentsince the 2006-2007 school year.

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