Recession Worsening in Europe, Leading Financial Newsletter Profit Confidential Warns

The unemployment rate in Europe is at its highest level since the inception of the euro, according to Michael Lombardi, lead contributor to Profit Confidential.
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New York, NY ( March 26, 2012 - The unemployment rate in Europe is at its highest level since the inception of the euro, according to Michael Lombardi, lead contributor to Profit Confidential. In Lombardi's recent article, Unemployment in Europe Hits Highest Level Since Inception of Euro, he describes the deteriorating situation in Europe.

"The numbers are horrifying," says Lombardi. "Youth unemployment rates as of January 2012 include Greece at 51.1%, Spain at 49.9% and Portugal at 35.1%."

Lombardi reiterates that these statistics for some of the 17 members of the European Union are not what they had in mind when they decided to share a currency.

"Where is the summit to discuss youth unemployment and the deteriorating unemployment rates?" asks Lombardi.

Lombardi lists the overall unemployment rate trend throughout the European Union for the last three months: December 2011 at 10.4%; January 2012 at 10.6%; and the latest month, February 2012, at 10.7%.

"The economic numbers are accelerating to the downside," says Lombardi, "The truth is that the recession is worsening in the European Union."

Lombardi says to watch out for the complacency in the markets and to be suspicious of their recent rise.

"There are serious structural problems in the world that are not being dealt with," says Lombardi.

Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it "begged" its readers to get out of the housing market...before it plunged.

Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.

To see the full article and to learn more about Profit Confidential, visit

Profit Confidential is Lombardi Publishing Corporation's free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit

Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi's current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit


Tag Words: profit confidential, michael lombardi, housing market, unemployment rates, recession, european union
Categories: Finance

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