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Austerity measures great for markets!

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posted on Jun, 25 2010 @ 10:14 PM
So ive been listening to the bloomberg podcasts...

One of the recurring themes is how the market has responded favorably to the austerity measures in the uk....

Perhaps our markets could do the same?

If so, and they are coming.... Now might be a good time to invest..

Not that i know anything...

posted on Jun, 25 2010 @ 10:22 PM
Global equity markets respond unfavorably to uncertainty. Once all information is put on the table and finalized the markets will return to some sort of equilibrium.

For evidence of this look at TARP, TAxx, in late 2008.

posted on Jun, 25 2010 @ 10:34 PM

Italian workers strike against austerity cuts
Saturday June 26, 2010, 3:22 am

Click to enlarge photo

MILAN (AFP) - Tens of thousands of Italian workers went on strike Friday, grounding flights and hampering the Rome metro, in a protest against austerity cuts ordered by the conservative government.

Italy's biggest union, the CGIL, which called the strike, said more than one million workers took to the streets across cities in Italy, with 100,000 in the northern city of Bologna and 70,000 in the southern city of Naples.

Throughout the day, 48 flights were cancelled at Rome's Fiumicino airport while several others experienced delays, according to the Telenews airport news agency.

Subway lines came to a halt in Rome and Naples for four hours, with some buses not circulating in the two cities. In Milan, the three subway lines ran normally, according to the city's transport company.

Workers on ferries to Italy's numerous islands, ports operators and highway tollbooth workers also went on strike for four hours, while truckers were urged to strike all day.

"No one denies that an austerity plan is necessary, but we need a plan that is fair and forward looking, not just spending cuts," CGIL number two Susanna Camusso told a rally in Bologna.

The government downplayed the impact of the protest.

"I hope this strike will be the last one of this season, given the low participation," Labour Minister Maurizio Sacconi said.

Italy's public administration ministry said 2.3 percent of civil servants took part in the strike, according to calculations based on a sample of 30 percent of public administration workers.

In a bid to clean up public finances and reassure the markets, Prime Minister Silvio Berlusconi's government last month approved 24.9 billion euros (30 billion dollars) of austerity cuts for 2011 and 2012.

The measures are expected to bring the deficit down to 2.7 percent of output in 2012 -- within the three percent required by the European Union -- from the current 5.3 percent.

"It's an unbalanced plan. Not even 10 percent of this plan is financed by Italy's richest," metal-worker union member Maurizio Marcelli told AFP at a rally in Rome.

Rail transport experienced slight disruption, but national rail operator Trenitalia said trains would run regularly over medium and long-range distances.

Workers in the northern regions of Piedmont and Liguria and the central Tuscany region will go on strike on July 2.

Italy's two other large unions, CISL and UIL, which have approved the cuts, did not join the strike.


posted on Jun, 27 2010 @ 11:13 AM
Austerity = reduction in spending = investors no likey.

two lines

posted on Jun, 28 2010 @ 08:54 PM
reply to post by eldard

Investors are liking this in british markets....

Just sayin

posted on Jun, 28 2010 @ 09:03 PM
yeah, keep propping up that dollar so I can buy more real money like gold and silver cheaper, then once the bubble bursts, inflation goes nuts.. I'll be selling the $18 dollar a a ounce silver back to the suckers at $120+ a ounce..

You do know how inflation works right, sure it may give a boost in the beginning but after it starts catching up to you, it slaps you up side the head real hard.. Germany and Zimbabwe would be a good example to look at.

posted on Jun, 30 2010 @ 10:16 PM
reply to post by HunkaHunka

Gullible investors are liking this in UK markets.


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