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[blusteradjuster] 29/5/2018 12:05

JTC,

How do you feel about your thread being taken over by zealot(s)?

[mount teide] 29/5/2018 11:57

Europe's soft coup d'etat in Italy is a watershed moment - Telegraph Business

'In one sense, this veto should have been expected. The Berlusconi government was toppled in 2011 by Brussels and the European Central Bank. Whistleblowers have since revealed that they manipulated bond spreads to exert maximum pressure. The EU even tried to recruit Washington. The US refused to help. “We can’t have blood on our hands,” said the US Treasury Secretary, Tim Geithner........'

US giving the unelected venal charlatans at the EU an ethics lesson - oh the irony!




'Italy’s pro-euro elites have overreached disastrously. President Sergio Mattarella has asserted the extraordinary precedent that no political movement or constellation of parties can ever take power if they challenge the orthodoxy of monetary union.

He has inadvertently framed events as a battle between the Italian people and an eternal ‘casta’ with foreign loyalties, playing straight into the hands of the insurgent Five Star ‘Grillini’ and anti-euro Lega nationalists. He unwisely invoked the spectre of financial markets to justify his veto of euroscepticism. Taken together, his actions have made matters infinitely worse.

Risk spreads on 10-year Italian bonds jumped almost 30 basis points to a four-year high of 235 on Monday as investors woke up the horrible implications of constitutional convulsion: a rolling crisis through the summer that can only end in fresh elections that resolve nothing.

Much had been been made of falling bank bank equities over recent days. They are falling even harder now. Banca Generali was down 7.2pc, and Unicredit down 5pc.

[blusteradjuster] 29/5/2018 11:45

JTC,

It’s perhaps like you suggested - the US funding its profligacy by beggaring the EU.

Seems the zealots are rooting for Uncle Sam in that endeavour.

They might want to check where the U.K. sits on the globe..



“Like many US economists I expected the next economic downturn to be the catalyst that either brought Eurozone reform or its destruction”

[11_percent] 29/5/2018 11:32

The disaster which is the EU is down to the fact that they created the € but did not consolidate the debt. They should have € bonds, and not each individual countries bonds. It's too late to do it now.

[blusteradjuster] 29/5/2018 11:28

Err dude, it’s due to their woeful labour-market laws (which need reform).

Still, don’t let the truth get in the way of your ideological crusade.

Bloody zealots..



“More than 10 years of enforced austerity and depression era unemployment across most of southern Europe as a result of the actions of the German controlled EU, in a self serving attempt to force the countries of Europe into accepting political integration is finally coming home to roost, as so many said it ultimately would.“

[mount teide] 29/5/2018 11:24

More than 10 years of enforced austerity and depression era unemployment across most of southern Europe as a result of the actions of the German controlled EU, in a self serving attempt to force the countries of Europe into accepting political integration is finally coming home to roost, as so many said it ultimately would.

Like many US economists I expected the next economic downturn to be the catalyst that either brought Eurozone reform or its destruction - but it seems the EU's scandalous soft coup d'etat in Italy through the actions of their unelected puppet President have made the fast deteriorating political and economic situation far, far worse and likely brought matters to a head much earlier.

I'm no fan of Gordon "British jobs for British workers" Brown, but he deserves huge credit for stopping arch europhile Blair, our self serving civil service and hundreds of 'leading' UK economists from taking us into the Euro - how right he and we were!

[blusteradjuster] 29/5/2018 11:22

Economic terrorism JTC?

Interesting concept and probably happening (to some degree) all the time.

[jtcod] 29/5/2018 11:18

I wonder how strong the urge is for US rating agencies to downgrade Italian debt so that the EU can no longer buy it, a move that would almost certainly spook world investment into the arms of the US treasury which has been failing to satisfy debt issues and renewals in the wider market since March.

[blusteradjuster] 29/5/2018 10:11

Looking at unemployment rates in the EU:

Netherlands 3.9%
U.K. 4.2%
Germany 5.6%
Ireland 6.0%
Austria 6.1%
Belgium 8.5%
France 8.9%
Portugal 9.8%
Italy 11.0%
Spain 16.1%
Greece 20.6%

See a correlation? Doesn’t seem to me that there is one..



Youth unemployment is well above the low about 10 years ago but well down on its high about 5 years ago - and it is falling everywhere except Greece.

In the last five countries in the list above, youth unemployment remains way too high.

What the unemployed youth of these countries need most is labour-market reform. That would be at the national level - and is therefore not related to EU membership.

Some such reforms have been enacted or are in the pipeline - and have been met by stiff resistance by vested interests (mainly unions plus some politicians).

The populists in Italy are promising UBI and earlier-retirement (aka bribes) instead of what is needed most.


The anti-EU rhetoric does nothing for all that young, under-utilised, human capital.

[jtcod] 29/5/2018 09:45

Italy bonds and stock market updatehTTps://www.ft.com/content/eed97b90-6306-11e8-90c2-9563a0613e56

[jtcod] 29/5/2018 08:38

Italy 2 year bond rateshTTps://mobile.twitter.com/henrikenderlein/status/1001357844963299329?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

[fireplace22] 29/5/2018 07:55

If you think the argument for leaving is down only to petty prejudice you are missing the point.

[blusteradjuster] 29/5/2018 07:50

Yeah, weird sites like the daily papers and the stuff others post on this very thread.

“Ze var” is just me adding a little colour to the barely-concealed prejudice of others.

[fireplace22] 29/5/2018 07:41

you are obviously reading stuff on some weird sites. your 'ze var' rhetoric isn't mainstream.

[blusteradjuster] 29/5/2018 07:35

Of course these people-loving-populists aren’t metropolitan elites (Bo-jo), aren’t privileged (Tree-Frog), aren’t wealthy businessmen (Trump), aren’t (ex) city slickers (Farage, Leadsom, Tree-Frog).


This is one hell of a hustle ... just as well we’re too smart to be suckered..

[mount teide] 28/5/2018 23:26

Top NHS medic says many of the 'problems' with the NHS are a management rather than a funding issue! Well there's a surprise! Many of its users have been saying that for decades.


NHS guilty of ridiculous waste of resources and could improve care without spending a penny more, its most senior medic Prof Willett says! - Telegraph today.



"A radical transformation of the sytem could be made without extra resources", he said. “It will take a rearrangement of time and resource but nothing extra – except the willingness and time to think it through with colleagues,”.

Prof Willett, NHS England medical director for acute care, weighed into the debate for more funding, by suggesting that radical changes could be made within existing funds.

“The best problem solving happens when senior clinicians and managers come together because we start to understand the reasons for blockages and where they could, with some leadership, common sense thinking and a rearrangement of resources, be solved,” he says.

The NHS leader said 4% of admitted patients end up staying in hospital for more than three weeks - taking up a “staggering” one in five beds on any given day.

“As surgeons rather than bemoan ‘lost beds’ we could be far more involved in better seasonal planning,” calling for closer working across health and social care to “transform the system”............

[mount teide] 28/5/2018 22:13

f22 - 'I hope there is something brewing in the wings for all our sakes.' Indeed - A decade of servitude and economic underperformance is almost assured with May's current disastrous Brexit approach.

[mr roper] 28/5/2018 22:06

Hazl, a generation of youth across Europe have never had the chance of work. Utterly scandalous and the next 20 years could be pretty ugly if there is another downturn on par with 2008.

[hazl] 28/5/2018 21:54

Yes MR R there are young people everywhere that have been marginalised while the top
few per cent gain most of the world's wealth.

[mr roper] 28/5/2018 21:50

Lol...think that says more about you, bluster than anyone else. Italy is in crisis, since 2008 their economy has flatlined, a generation of youth never had any form of work and what’s the end result. More than 65% of their voters vote for anti Eu parties.

[blusteradjuster] 28/5/2018 21:43

You dangle the bait and..

..take note of who reacts and how.