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Old 08-08-2018, 04:44 AM
Danny B Danny B is offline
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,323
Italain bonds,,,wealth gap,,,big zombies,,, nobody working

The claim is made that taxes will be raised to pay for pensions, NO MATTER how high the taxes go.
"Markets fear the nation may be headed for a collision course with European Union partners as the two parties in Italy’s ruling coalition pledge to implement bold spending plans next year."
" European Central Bank, which is due to cut its bond-buying program to 15 billion euros a month in October and then end purchases in December. "
Ah yes. The Italian GOV is going to spend LOTS of money. The ECB is going to stop buying Italian sovereign bonds.

"The top 1% of Americans took home more than 22% of all income in 2015, the study found. That’s the highest share since a peak of 23.9% just before the Great Depression in 1928. "
"In nine states in the U.S., the top 1% represents more than half of all income growth."
"New York’s Alexa Ocasio-Cortez winning an upset victory in June’s Democratic primary in New York’s 14th congressional district running on a platform of Medicare for all and reining in Wall Street. She also supports the idea of a government program guaranteeing paid jobs for anybody who wants one. "
Who wants a job when the dole pays better AND does not cut into your free time?

Here is a graph showing a 15 year period of debt unwind after the 1930 crash. It shows a MUCH smaller unwind after the 2009 crash. That is how much further we are going to fall.
"Private debt today has declined only marginally since the crisis in 2008/09, especially when compared to the greatest financial crisis in US history. In fact, it’s higher now than it was before the Great Depression."
"there is every sign that government debt will continue to grow. The US Treasury just reported that it expects to issue $329 billion in net marketable debt this quarter (July-September), $56 billion more than what they estimated in April."

"Total global debt has almost quadrupled in just 17 years." (281%)
Mr. Keen classifies debt-laden countries into two categories. The first are the Debt Zombies as he calls them, classified as such because a) private debt exceeds 150% of the country’s GDP, and b) credit is 10% or more of GDP for the preceding five years. See if your country is on either of these lists…

First, there are nine Debt Zombies:

New Zealand
The Netherlands

8/08 Record number of UK cops forced to take second job – Independent
So, where did the money go?
Never worked households are three times as common in inner London ...
At one time, 25% of London households had nobody employed.
Record 60% of Britons in poverty are in working families – study ...
It.s not just England.
In 1 in 5 Families in U.S., No One Works - CNS News
Our socialist system is crashing because it tries to carry along all the non-producers.
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