Italy’s Temporary “Glass Half Full” Insanity

Jon Alternative Media, Banking, Blogosphere, Economy

Yesterday it was the French, with record high unemployment and record low bond yields. Today, it is the turn of the Italians as the unemployment rate rose to 13.2% – the highest since records began – as bond yields continue to plumb new “lower rates will spur lending which will spur economic growth which will create jobs” lows…
As Bloomberg reports,
Renzi said today’s increase in the unemployment rate is partly due to more people starting to look actively for a job. The so-called ‘discouraged’ workers who are not looking for work are not counted in the Istat jobless data.
‘Unemployment data are worrying,’ said Renzi, whose comments on the sidelines of an event in Catania were broadcast by SkyTG24. ‘We cannot deny the problems out there, still we shouldn’t see the glass half empty either.’
Is this worrying?

This post was published at Zero Hedge on 11/28/2014.