fiery friday, page-2

Euorpe's next little piggy

http://seekingalpha.com/article/211595-spain-the-next-eu-sovereign-debt-crisis-coming-soon?source=hp_wc

Over 20% of the workforce is unemployed: Even before this most recent crisis, unemployment in Spain was approaching Great Depression levels. Spain now has the highest unemployment rate in the entire European Union. More than 20 percent of working age Spaniards were unemployed during the first quarter of 2010. If people aren?t working they can?t pay taxes and they can?t provide for their families.

Unsold housing inventory levels SIX TIMES WORSE than America: There are 1.6 million unsold properties in Spain. That is six times the level per capita in the United States. Considering how bad the U.S. real estate market is, that statistic is incredibly alarming