March 7, 2013

Italian Debt Highest since Mussolini

Italian debt is up in 2012 to 127 percent of gross domestic product from 120.8 percent a year earlier. As Bloomberg notes, that's the most since 1924, when Mussolini won 64 percent of the popular vote in elections. It seems that austerity is not working at all or has not been addressing the real culprit since spending has risen almost 3% in the last three years and taxes have not kept pace.

The reality is that austerity has been hitting only the soft target of an impoverished salaried middle class which is an easy target but has been largely ignoring the cronies, lobbies and potentates which are still corruptly and voraciously living of rent while stalling any real reform of the country.

1 comment:

Anonymous said...

I droρ a leaѵе a response whеn
I especiallу enjοу a аrtіcle οn а
sіte οr I have ѕomеthing to valuable to contгibute to the ԁiscussion.

It іs triggered by the sinceгness communicated in the pοst I
loоκed at. And аfter this рost "Italian Debt Highest since Mussolini".
I waѕ moveԁ enough to dгop a thοught ;) I
do have 2 questions foг yоu if you do not minԁ.
Is it just me oг ԁoes it apρear like a fеw of these rеsponses apρeaг as if
they arе written by braіn dead іnԁiνiԁuals?
:-P And, if you аre writing on aԁditionаl
places, I'd like to keep up with you. Would you list the complete urls of your public sites like your linkedin profile, Facebook page or twitter feed?

my site ... mouse click the up coming website