By Michael Snyder
When you get into too much debt, really bad things start to happen. Sadly, that is exactly what is happening to Italy right now. Harsh austerity measures are causing the Italian economy to slow down even more than it was previously. And yet even with all of the austerity measures, the Italian government just continues to rack up even more debt. This is the exact same path that [...]
Dec. 13 (Bloomberg) — Steve Forbes, chairman and chief executive officer of Forbes Inc., talks about fiscal negotiations in Washington and the outlook for Italy’s economy. Forbes speaks with Adam Johnson and Trish Regan on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)
Biderman’s Daily Edge – New Year could see immediate recession at worst, slower growth at best
Nov 23, 2012
In Greece, with the economy collapsing, the people attempt to push through barricades where their political leaders are meeting:
In the US, with the economy collapsing, the people attempt to push through barricades at Victoria’s Secret to buy panties:
In Spain, with the economy collapsing, the people take to the streets in desperation, where clashes with police break out over austerity cuts:
In the US, with the economy collapsing, the [...]
(Reuters) – Italy‘s economy will shrink about 2 percent in 2012 though signs of recovery could start to appear at the end of the year, Bank of Italy governor Ignazio Visco said in an interview.
Visco had previously expected a 1.5 percent contraction in gross domestic product (GDP), against a government forecast of -1.2 percent and a 2.4 percent decline seen by employers’ lobby Confindustria.
Italy has been in recession since the middle [...]