Glad we are not in Europe

June 2nd, 2010 at 10:32 am by David Farrar

Reuters reports:

Euro zone rose to its highest level in almost 12 years in April but a drop in the number of jobless in Germany in May signalled the labour market could be stabilising.

The European Union’s statistics office said 10.1 percent of the workforce, or 15.860 million people, were jobless in April in the 16 countries using the euro, up from 10.0 percent in March. Unemployment is now at the highest level since June 1998.

Just think, if we had spent more money on fiscal stimulus, we could also have the deficits, debt and unemployment of Europe.

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21 Responses to “Glad we are not in Europe”

  1. MikeNZ (3,234 comments) says:

    It will come to visit us in some way in the future.

    It’s not over in both Europe and the USA which means it won’t be over for us.

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  2. alex Masterley (1,517 comments) says:

    Yup,
    it’s not a good place to be at the moment.

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  3. big bruv (13,929 comments) says:

    Yep, and yet fuckwits like the Greens think we should still be borrowing more to increase benefits.

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  4. taranaki (20 comments) says:

    Australia spent more on a fiscal stimulus and now have lower unemployment and a much higher growth rate than us.

    Lets take a look at our success stories – John Key’s Job Summit produced a 9 day fortnight which saved ~640 jobs, and the cycleway has employed 70 people. Way to go!

    [DPF: Australia never went into recession. We did - in 2008]

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  5. kowtow (8,522 comments) says:

    Spain gave 2 amnesties to illegal immigrants and has 20% unemployment.
    Lib Dem in UK wants an amnesty.
    The rest of the Union is being over run by Africans and Arabs……dont worry celebrate diversity and multiculturalism and unemployment.

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  6. s.russell (1,642 comments) says:

    I think Europe’s high unemployment has more to do with foolish labour market rules which discourage flexibility and job creation.

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  7. Fletch (6,408 comments) says:

    I’m not sure I believe the recent news of unemployment numbers going down here in NZ. It still seems pretty bad.

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  8. bchapman (649 comments) says:

    Then again Europe never had Michael Cullen paying down debt in the 2000s. Even English admitted we wer well placed in late 2008.

    Sorry this is weak link between association and causation but no worse than anyone elses here.

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  9. RKBee (1,344 comments) says:

    Glad we are not in Europe…. but we are effected by Europe.

    Glad we are not in Europe… but we will keep trying to gain access.

    Glad we are not in Europe… when the Soccer World cup is in South Africa.

    Glad we are not in Europe… when the Rugby World cup is here.

    Glad we are not in Europe… when the weather is shit.

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  10. Eddie (288 comments) says:

    Exactly David. That is why the country voted those fucking idiot Labour party people out of power. Out damned Labour.

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  11. PinkGina (91 comments) says:

    Here’s how a stimulus package works in NZ…..

    It’s a slow day in a rural New Zealand Town. The sun is beating down and the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit.

    On this particular day a rich tourist is driving through town, stops at the local motel and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs in order to pick one to spend the night.

    The motelier gives him keys to a few rooms and as soon as the man walks upstairs, the owner grabs the $100 bill and runs next door to pay his debt to the butcher.

    The butcher takes the $100 and runs down the street to repay his debt to the pig farmer.

    The pig farmer takes the $100 and heads off to pay his bill at the supplier of feed and fuel.

    The guy at the Farmer’s Co-op takes the $100 and runs to pay his drinks bill at the local pub.

    The publican slips the money along to the local prostitute drinking at the bar, who has also been facing hard times and has had to offer him “services” on credit.

    The hooker rushes to the motel and pays off her room bill to the motel owner with the $100.

    The motel proprietor then places the $100 back on the counter so the rich traveller will not suspect anything.

    At that moment the traveller comes down the stairs, picks up the $100 bill, states that the rooms are not satisfactory, pockets the money, and leaves town.

    No one produced anything. No one earned anything.

    However, the whole town is now out of debt and looking to the future with a lot more optimism.

    And that, ladies and gentlemen, is how the New Zealand Government’s stimulus package works.

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  12. Eddie (288 comments) says:

    A homily from the scriptures of Labour.

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  13. OECD rank 22 kiwi (2,752 comments) says:

    $240 million a week.

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  14. krazykiwi (9,186 comments) says:

    PinkGina – You let out some important bits: The local pub pays approx $9 to the government as GST so is left with only $91. The publican needs to find another $9. The motel proprietor can’t put $100 back on the counter because he/she also has to pay the government $9 as GST from the hooker’s $100 payment. Motelier is forced to add $9 of his/her own money in order to have enough for the traveler to pick up his/her $100.

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  15. billyborker (1,102 comments) says:

    taranaki (6) Says:

    June 2nd, 2010 at 10:59 am
    Australia spent more on a fiscal stimulus and now have lower unemployment and a much higher growth rate than us.

    Cause

    [DPF: Australia never went into recession. We did - in 2008]

    Effect

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  16. AlphaKiwi (683 comments) says:

    @krazykiwi
    So, taxes could at least in theory prevent the full payment of debts. Interesting.

    I remember my economics teacher in sixth form gave us a similar story and also didn’t mention the tax component.

    Also, one would have to remember that one of those receiving his debt repayment would probably spend the hundred on the pokies or a nice dinner rather than paying the debt he owed. :)

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  17. side show bob (3,660 comments) says:

    Gee billy I bet you were top of your class, two bob. I bet you can also turn water into wine and in your spare time read chicken entrails.

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  18. Sonny Blount (1,783 comments) says:

    # billyborker (1052) Says:
    June 2nd, 2010 at 4:02 pm

    taranaki (6) Says:

    June 2nd, 2010 at 10:59 am
    Australia spent more on a fiscal stimulus and now have lower unemployment and a much higher growth rate than us.

    Cause

    [DPF: Australia never went into recession. We did - in 2008]

    Effect

    Why did it not work for the US and Europe then Billy?

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  19. Hurf Durf (2,860 comments) says:

    How many times? Stimulus doesn’t work.

    Also fuckwits: Australia has a strong mining sector (which Krudd now plans to kill off) and good economic management inherited from the Howard era.

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  20. Dirty Rat (504 comments) says:

    Well, I’m glad we are not in Europe, or else we probably woulnd be ging to the World Cup, like Israel and Turkey

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