The Quiet Collapse of the Italian Economy

The Quiet Collapse of the Italian Economy

(from lse.ac.uk:)

“The situation of the Italian economy is simply dramatic. … Recently, a study has appeared which reveals how the current crisis (2007-2013) is in many ways much worse than the 1929-1934 contraction. … In the present crisis, investments have collapsed by 27.6% in the five year period, against 12.8% in the interwar depression. GDP has declined by 6.9% against 5.1%. Italy, with the second largest manufacturing sector in Europe after Germany, has lost about 24% of its industrial production, going back to the 1980s level. No data is currently showing any sign of recovery. From the beginning of this year, the country has lost over 31,000 companies. … Construction, the other pillar of the national economy, is in rout: the 14% slump in 2012 is only the last in a series of difficult years. Home sales have dropped by 29% in 2012 against the already miserable 2011, to the 1985 level of 444,000 units, about half the number of 2006. Of course, the consequences of this economic disaster in terms of loss of employment are dire: unemployment is now at almost 12% and growing fast.”

Well, don’t worry, back in 1929 we had the national socialists, in the last 20 years we had the all-you-can-eat socialists, obviously always buddies of the vatican christo racket, costing 6 billions a year of public gifts, besides total tax exemption, history never changes.

“But” the “professors” and the “economists” who made this mess, are pontificating about the “meritocracy,” translating into why they are entitled to the multiplications of pensions and stipends, whereas our average congressman makes more money than the President of the US, “and” we have about 945 of them, between congressmen and senators “plus” “one parliament” for every region “the size of a larger county,” and there are 20 of those parliaments, plus cities for 100 people, counties of less than 30 thousand people, “and” seven thousand government agencies, admittedly “useless” by the government itself, all on public payroll, obviously. The truth over the Italian clerico-mafio-political abuse, AKA “the cast,” is unspeakable of.

Anybody surprised the country is going bankrupt ? It would be a surprise “it would not,” Italy is as corrupted and as bigot as Greece, if not more, the Vatican money laundering machine is as shady as the Cyprus one, if not more, they are all “not negotiable,” and as they used to say at the times of the french headless king, “noblesse oblige,” all little kings, but these are barons, even with no nobility titles, we have probably ten millions between tzars and rasputins in italy, all milking the public cow, allelujah.

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