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Last year's problems will pale compared to "when 2012 shockwaves are felt by millions of people in Europe and beyond.""The policy of collective austerity imposed at the behest of the money men (bankers) has driven the eurozone to the brink of a new recession. In 2012, it will be swept over the edge, carrying with it the jobs of millions."
As a result, public anger will grow. The International Labor Organization warned that people believe "the burden of the crisis is not being shared fairly," especially among young people.
Nearly half of Spain's youths are unemployed and over 40% of young people in Greece. Ireland's little better off at 30%, and things ahead look worse. UN Conference on Trade and Development's Heiner Flassbeck said, "Those (who) were not part of the party are having hangovers. That's the problem."
A lost decade lies ahead. So does greater pain and suffering to assure bankers are paid. As a result, "2012 looks like....a very unhappy new year." According to one observer, similar politics and economics across Europe are broken, and nothing ahead looks promising.
New Year Predictions
Consumer attorney Max Gardner offered "Extreme Predictions 2012," including:
(1) Continued home price declines until Q III 2014.
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