First Greece now supposedly making a choice to leave the Euro. Everyone wondered who would be next. Well, wonder no more everyone here it is in
black and white now Italy. While most thought Spain, I guess its not far behind Italy.Will we witness a world depression? I'm sure some there,
already believe they're in one.
It has been no secret though I suppose to those of us who listen and read other alternative media choices, but how much longer, I wonder can the main
stream media, keep hiding the "real" economy. There are those of us who know that the economy is not right and we see and feel it on a daily level.
How much more "good" propaganda can they dish out on the economy and unemployment before the sheeple and those of you who don't have time or the
luxury to research and read between the lines. When will people quit going for "feel good" lines the politicians feed you to get your vote? You
definately can't trust the unelected ones either. They have nothing to lose since most I would assume it's that way in Italy too, we don't even know
who these glorified pencil pushers are.
As Greece erupts, Italy is moving into the eye of the storm. Its economy is contracting at speeds not seen since the depths of the slump in 2009
as draconian austerity bites, greatly increasing the risk of social revolt and a banking crisis.With the world's third largest debt after the US and
Japan at €1.9 trillion (£1.18 trillion), it is big enough to bring the global financial system to its knees. It is also in the front line of
contagion as the Greek crisis metastasizes.
The unelected government of Mario Monti is carrying out net fiscal tightening of 3.5pc of GDP this year even though Italy's budget is near primary
surplus. This is three times the International Monetary Fund's "therapeutic" pace. All key measures of Italy's money supply have been contracting at
1930s rates over the last six months.
edit on 16-5-2012 by 1loserel2 because: typo
edit on 16-5-2012 by 1loserel2 because: (no reason given)