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by Tyler Durden
Jul 18, 2017 2:45 AM
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Is it any wonder the Italians are revolting against the European Union?
Italians living below the level of absolute poverty almost tripled over the last decade as the country went through a
double-dip, record-long recession. As Bloomberg reports, the absolute poor, or those unable to purchasea basket of necessary
goods and services, reached 4.7 million last year, up from almost 1.7 million in 2006, national statistics agency Istat said
Thursday. That is 7.9 percent of the population, with many of them concentrated in the nations southern regions.
For decades, Italy has grappled with a low fertility rate -- just 1.35 children per woman compared with a 1.58 average
across the 28-nation European union as of 2015, the last year for which comparable data are available.
The poverty report shows how it is pointless to wonder why there are fewer newborn in Italy, said Gigi De Palo,
head of Italys Forum of Family Associations.
Making a child means becoming poor, it seems like in Italy children are not seen as a common good.
The number of absolute poor rose last year in the younger-age classes, reaching 10 percent in the group of those between
18 and 34 years old. It fell among seniors to 3.8 percent in the age group of 65 and older, the Istat report also showed.
Just a good job the government spent the equivalent of its entire defense budget bailing-out the bankers...
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7.9%? ehm.... have you compared to... the US or UK, for example?
no? ah, it's a "rant away, disregard contradictions" article. well, rant away
Being the only person on ZH (that I know of) who has read bothThe Wealth of NationsandDas Kapital, both Marx
and Smith missed how human greed makes these systems unsustainable long-term.
Under Socialism the incentive to work and better yourself is removed from the population, and greed sets in as
everyone does the bare minimum to get by, because there is no point in doing more. Everything goes to shit.
Under Capitalism the "monied" classes (top 0.01% not top 1% as many idiots like to point out) attains power and
greed sets in as corruption keeps them and their money in power, even at the disadvantage of everyone else.
Everything goes to shit.
I think the biggest travesty on BOTH sides of the economic spectrum that *both* share is that they both believe
"Socialism" is synonymous with "Marxism", which it most definitely is not.
Marxist Socialism = No car company as everyone is trying not to starve to death.
Capitalism = Car company builds cars where cheapest labor and laxest environmental laws exist. HQ = Germany,
part production = Poland and China. As time goes by more and more jobs are destroyed in the country of origin to
relocate them to lowest cost centers.
"National" Socialism = Car HQ builds cars in nation, as .gov makes cost of re-import punitive. HQ = Germany,
majority part production = Germany. "Growth" of company and its potential for growth is dramatically reduced.
For people who have been reading my posts for sometime, this one is out of character, but I have had some
serious issues with our system and the ideals that "capitalism" is based on.
For a time, it works -- but then corruption sets in and it, like a fish, rots from the head down. We've been rotting
for some 40 years now.
EDIT - The problem with the "Socialst" model is power vests in the state, which is run by man and is also corrupt at
the end. Traditonally the state has power of life and death whereas private enterprise does not. Thus, in the late
stages of "Socialist" paradises -- there is rampant death and starvation as the political classes remain in power. I
think the economic systems of the 19th century need to be re-visited. Monarch/dictatorial rule mixed with the
free markets. Seemed to work well.
Fixed.
I think we need a couple economists to be in the drafting sessions of the next round of constitutions that come
about. "If total debt as a percentage of the population reaches this figure, all debt is forgiven and there is a
system-reset" or something along those lines.
The moral hazard for people with money to bribe those with power to make sure those with money keep it is
human nature, its also why we find ourselves in the shitshow that we do right now.
Adam Smith didn't figure this out, Schumpeter did. He's the one who said that capitalism's failing is an
'intellectual class' would constrain capitalism and thus impede creative destruction.
Intellectuals are people who wield the power of the spoken and written word, and one of the touches that
distinguishes them from other people who do the same is the absence of direct responsibility for practical
affairs.... The critical attitude [arises] no less from the intellectual's situation as an onlookerin most cases,
also an outsiderthan from the fact that his main chance of asserting himself lies in his actual or potential
nuisance value
The entrepreneurs were, according to Schumpeter, the backbone of the bourgeoisie, thus providing
capitalism with its institutional and political basis. By destroying the entrepreneurs through its effectiveness,
capitalism would also destroy its own political foundation. In an economy that is increasingly dominated by
giant corporations and devoid of entrepreneurs, the defense of capitalism has no constituency. Instead,
capitalism will have to confront increasing hostility. Here the intellectuals were, according to Schumpeter,
going to play an important role in formulating a criticism against the capitalist system and its institutions.
Eventually, a democratic and peaceful transformation of the economy to socialism would take place.
In short, yesterdays creative destroyers are today's crony capitalists. The US MUST support a free market system
to allow creative destruction to continue.
If wasn't for these votes there was no socialism anywhere in the world.
Unless the mininum wage "dindos" no private worker ever votes for socialism.
The problem in almost western countries is that welfare state/big government jobs grew so much, that they're
the majority of the population and now it is impossible for the private sector to gain so much wealth to feed the
state dependents, so we see rampant poverty among the "pigs" countries.
Too much socialims, now it is going to be hard to reduce that Big government/welfare state
"Those who make peaceful revolution impossible will make violent revolution inevitable."
JFK
I don't have a problem with the idea of the euro, but rather the constellation.
Germany and France have absolutely no business sharing a currency. Latvia and Portugal have absolutely no
business sharing a currency.
Group similar countries together to create price stability -- fine with me. Group countries together based on
http://www.zerohedge.com/news/2017-07-17/recovery-italys-poor-population-has-tripled-last-decade 4/19
18/07/2017 Recovery? Italy's Poor Population Has Tripled In Last Decade | Zero Hedge
Group similar countries together to create price stability -- fine with me. Group countries together based on
geography as an excuse to create the United States of Europe -- bad idea.
"Why lend to house buyers at 4% when we can lend it to Spanish home buyers at 6% and there is no FX risk
anymore? I mean, whats the worst that can go wrong?"
Then group think kicks in as a few funds start raking in larger returns and then the flood-gates opened.
Bbecause MSM is mainly covertly funded by public unions that are "military organized" they have trolls in every
forum so that this truth does not come to peoples minds
"Never before had so many people been hired by the state, with such salaries, pensions and benefitsto the
point where the average government job paid almost three times the salary of the average private-sector
job. An egregious but not isolated example was the national railroad company, which had annual revenues of
100 million against an annual wage bill of 400 million, on top of 300 million in other expenses. This is
how the average state railroad employee came to earn 65,000 a year."
https://www.amazon.com/Modern-Greece-Everyone-Needs-Know%C2%AE/dp/019994...
my goodness, what where they thinking, in the 19th Century? we know that sharing a currency is bad even
among spouses
oh, and price stability? of course it does not work, eh? except in factual reality, but we don't discuss that
With your joke of a currency, not only is it fiat based, so it can be printedad infinitum, but individual nation-
states don't have the ability to come and go as they please? Why? Because leaving and subsequent devaluation
would destroy the entire thing, unlike a gold-standard.
Seriously Ghordo, you attempting to conflate a gold standard with the EUR is one of your more outlandish
comparisons yet.
I see a huge culture war, raging in the US. US(R) vs US(D), locked in a no compromise, no debate, no shared
views culture war bordering a "Civil Cold War", each with it's own networks of "news" and claiming (with right,
imo) that the other sides is only "fake news" and propaganda
on the other side, I see Germans, French and Italian having a consensus. including on how, (all 27 countries,
mind) negotiate Brexit with the UK
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18/07/2017 Recovery? Italy's Poor Population Has Tripled In Last Decade | Zero Hedge
mind) negotiate Brexit with the UK
I see cooperation between Germans, French and Italians with 24 other countries... despite the different
languages
meanwhile, I don't even recognize the same English vocabulary being used between the snowflakes on the Right
and the snowflakes on the Left, in the US
(you are yourself a Culture Warrior... and you don't even see it)
methinks it's a bit of a lack of understanding from your side what a culture is. if you aren't able to communicate,
to agree on something, to co-operate... it is not one culture anymore
(meanwhile, the EU27 are, since WW2, on the path of cultural co-operation among european cultures)
How was it possivel a person to pay for social security/fund 11.5% of their income during 35 years and get
entitled to 100% during 20 years ?
Math don't add, millions are getting pensions they didn't pay for them !!!!!!!!
They're stealing from their sons and grandsons
Now that huge pile of debt everyone knows
I challenged the context of a number, 7.9%, and you absolutely destroyed me with factual, reality-based numbers
of other countries that show that I am talking rubbish
and not even one ad-hom. only factual information that shows that I was wrong, while keeping up the discussion
well done, Paddy the Irish Man, well done
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