Monday, April 17, 2023

Ma Chi Se Ne Frega


 Evo writes about Italy:  

Italians' mean age is 47; therefore, more than half are past the age of reproduction. With a fertility rate of 1.3 children per woman, the smaller "procreative fraction" of the population will fall by almost 50% with each generation. (If President Meloni adopts nationalist measures...) she will have to deal with the European Court of Human Rights, the Court of Justice of the European Union, and the United States, if she does not respect the treaties on the management of immigration, Islam, free and undistorted competition, and the European Union's defense policy.  

If she is really very brave, she will carry on regardless and continue her policy. That is when the European Central Bank will deal with her. Indeed, Italy has become, thanks to Berlusconi, a beggar. It owes its survival only to the accommodative policy of the ECB, which massively buys its abysmal debt, and protects it from hedge funds. Remember that the ECB holds 780 billion [euros] of Italian public debt (30% of total debt), and that this is only growing. Italy's 10-year borrowing rates have already exceeded 4%, which is completely unbearable for the country's budget. Then it would be enough for the ECB to stop its purchases, or even to sell part of its stock on the market at a low price, to immediately raise this rate to stratospheric levels, and make Italy look like Zimbabwe. 

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