Bleak Greek

07/22/2013 | Econ70 | eisenberg and economics, eisenberg and graphsandlaughs, Graphsandlaughs, Greek auto registrations, greek GDP, Greek GDP collapse, greek unemployment

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%.

Bleak Greek

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