Last available data from national and international bodies confirm the decline of Italy. GDP dropped at ninth place in the world and an array of negative records are declared by major authorities in these days. Actual jobless people, including those “discouraged” who are not actively looking for jobs, is around 6 million which is double …
Tag: Recession
Oct 22
USA and the world: what is beyond the debt default
The world is probably living its most dangerous economic era, which begun with the capital off-shoring in the seventies, continued with the great financial bubble from the eighties and is now approaching the next stage of collapse. This is the ultimate crisis and will spread from the USA as in the most recent ones. The …
Mar 24
Poverty nearly doubled in Italy, 2006-2013
615 new poor persons a day from 2006 to 2013, Confcommercio calculated. 2.5 million “absolute poors” in 2006 grew to 4 million in January 2013, as indicated by the new Misery Index presented Friday, 22 by Confcommercio in Cernobbio. Income of 90% of Italian workers is below 35.600 euro, 28.000 people only earn more than …
Mar 13
Deficit cuts and the obious link with recession
It is a debated issue in these times, that of deficit cuts, along with the less famous theme of the “end of growth” and that of the finite nature of resources on hearth. In his Museletter 249, Richard Heinberg connects them in a summary of thoughts which may turn useful to those aiming to understand why …
Jan 22
Is Mr Monti right for Italy?
The Italian Premier has been defined as “ineffective” by Financial Times, yesterday, and replies today. He may remember when the international press (The Economist) defined Berlusconi as “unfit” to rule Italy with different motivations and the same fate in the attempt to introduce laissez-faire economics in Italy.
Sep 08
China and Russia sound alarm on global economy
China sounded the alarm about the state of the global economy on Saturday at APEC summit, and Russian President Putin also expresses concern. Chinese leaders call for stronger integration in APEC Countries (Reuters), while promising they will work to provide a better policy environment to attract foreign investments in China (Reuters). Meanwhile, chinese companies keep …
Sep 01
Next winners in the global economy
Who is going to win the global competition between old and new economies? Dani Rodrik’s insight, professor at Harvard University’s Kennedy School of Government, provides a three condition scenario for relative growth: “those that do relatively better will share three characteristics. First, they will not be weighed down by high levels of public debt. Second, …