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Quite right. High unemployment among the young is a global phenomenon -- which ignited both the "Arab Spring" and the Occupy movement (though the latter is more of a joke). It is also high in Europe, particularly among Club Med. The difference in the United States is high and non-dischargeable student debt and a country caught in political stasis as it hurtles downwards. There's a good book review by John Gray that's worth a glance. More on stasis can be found in the Archdruid's latest essay.