Jul
22

Bleak Greek

While the US economy is not great, be grateful you don’t live in Greece. Unemployment there is 27.4%, youth unemployment is a staggering 58% and car registrations are down 80%. This is because GDP is in its fifth straight year of decline and by the end of 2013, will be back where it was in 2006, a decline of roughly 26%! By comparison, peak-to-trough US GDP declined by only 5%.

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