Brexit, Trump, and the Italian referendum this month have shown pretty clearly that the global middle class has had about enough. However, the people who have long run the political show aren’t happy about this bourgeois revolt. Indeed as the “deplorables” have gained their voice the (old) powers that be are crying out for censorship. That, not Russian hacking, is what the “fake news” meme is all about. The crony media system, a partnership between government and the media corporations is breaking down and people like Obama,
Both headed for the EU woodshed?
The middle classes around the world are pissed.
Una roccia settentrionale moment?
You may not have heard over the American political din of the last few days but Italy’s banking sector is melting. Eyes are on Europe’s southern tier right now. “The soft underbelly” of Europe. The words “inter-bank lending” (specifically potential problems with it) and “contagion” are creeping back into the global financial conversation. As we’ve said it is very likely that any financial downturn in the next year or so will be blamed on Brexit, and the current Italian troubles no doubt have much to do with Brexit,
This story was sent to me by a reader and the film sounds absolutely fantastic. This is one I am putting on the list for 2016. Unfortunately I can’t find a trailer with any English subtitles.
Amazingly Quo Vado is beating Star Wars in Italian theaters solidly. This can only be a good sign.
How nice for him. I hear Rome is lovely this time of year. And how nice that Biden gets to bring his family with him on the taxpayer’s dime. I mean if Mrs. Obama can do it in China, why not the Vice President in Italy? It’s only the taxpayer’s money. There is a certain style to which one becomes accustomed when Vice President of course.
Such respect for the taxpayer. Good ole’ “middle class Joe.”
(From The Washington Beacon)
Hotel rooms and car service for Vice President Joe Biden’s Thanksgiving trip to Rome and Croatia cost over $300,000,
Venice did its own thing for a long time before Italy came around, and it would likely do just fine without the dysfunctional lands to the city’s south.
Basically Chrysler should be JEEP. An that’s about it. Maybe the Ram Trucks brand too. That’s all Fiat wants and it’s all the world wants.
How Ferarris are ever built in the country is beyond me. But they’re built in the north, in Maranello. Things get worse the farther south one goes.
(But don’t worry, Cyprus was an exceptional case.)
The blundering daftness of the bailout deal in Cyprus is just being taken in by the world. Stealing from any depositors is terrible and in my opinion constitutes a crime, but taking from small depositors who are under the deposit guarantee amounts is just stupid. It’s one thing for people to see Russian oligarchs stolen from, it’s quite another to see Milos the fisherman lose his savings.
If I was in Spain or Italy I don’t know that I’d stick around to find out.
What is happening in Cyprus is so deeply unjust.
Just a few weeks ago many leaders were tentatively looking at what they thought might be more than just a respite in the ongoing European (world) economic calamity. But this storm is far from over. It’s shifting into a new phase as Spain continues to spin out, Italy’s industrial output is the lowest it’s been since its been recording the stat, and even tiny Cyprus is causing real problems.
The European dream, must not be lost. The euro is much more than a currency, it a vision for a continent. Europe according to many must consolidate to compete with world competitors and lay the foundation for a more consolidated, better managed world. This is the argument.
This is a very good episode of Planet Money.
Luigi Zingales, is an economist who is originally from Italy a country with a long history of fascism, believes that the United States is becoming a cony capitalist state. We believe we are already there.