Monday, November 07, 2011

Italia in the crapper

.. this is what happens when Mr Rot goes AWOL.
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4 comments:

Mr roT said...

I told you. But no.

11/07/2011 5:39 PM
Tecumseh said...

You gotta get back in the saddle. And start paying taxes. It all hangs on your shoulders.

11/07/2011 7:10 PM
Tecumseh said...

As I was saying, Berlu is lost without Mr Rot propping him up.

11/08/2011 1:52 PM
Tecumseh said...

Mamma mia!

Italy has the worst demographics in the world. The United Nations projects that the population will fall to 41 million by 2050 from its current 51 million. Even worse, a healthy Mediterranean diet — lots of red wine and olive oil — means life expectancy is rising fast. Italian women now have the longest life expectancy in Europe at 83.2 years (perhaps because they have so few children), and the men are not far behind. As the years go forward, there are going to be lots of old people and not many young ones. That would put severe strain on the finances of any government. In a country that already has a debt crisis, and a generous pensions and welfare system, it is catastrophic.

It's all Mr Rot's fault, of course.

Italy might be bust this year or next or the year after. In the end, the timing doesn’t make much difference. It isn’t facing a liquidity crisis, and the rest of the euro zone is either unable or unwilling to put up enough money to save it. It is insolvent — and, with 1.9 trillion euros of debt outstanding, that is going to be a cataclysmic event for the world economy.

The only question is: who'll be left holding the bag?

11/08/2011 2:54 PM

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