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(Yahoo)   Italy has a $127bil debt problem it can't easily resolve. Doesn't care - has pasta, is Italy   (finance.yahoo.com) divider line
    More: Obvious, Italy, Italian companies, most government-guaranteed debt, state-backed loans, government efforts, toy company Giochi Preziosi SpA, state-backed guarantee, newly formed government of Giorgia Meloni  
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461 clicks; posted to Business » on 28 Nov 2022 at 11:04 AM (9 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



13 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-11-28 10:07:51 AM  
Billions in debt?  pffft...rank amateurs. You want debt? how about $31 TRILLION.

USA  USA!!
 
2022-11-28 10:22:33 AM  

Sid Vicious' Corpse: Billions in debt?  pffft...rank amateurs. You want debt? how about $31 TRILLION.

USA  USA!!


We've been able to print our way out of our obligations for decades now. Italy has no such luxury. The ECB has bailed them and Greece out for a while now.

Eventually, all this sh*t comes due.
 
2022-11-28 11:08:56 AM  
The collector will come and the nation will collectively ride past on a Vespa with a dangling cig saying, "Ciao."
 
2022-11-28 11:13:48 AM  
And wine, lots and lots of wine:
Fark user imageView Full Size
 
2022-11-28 11:19:34 AM  
Maybe they should stop selling houses for 1 Euro on CNN?
 
2022-11-28 11:30:18 AM  

Sid Vicious' Corpse: Billions in debt?  pffft...rank amateurs. You want debt? how about $31 TRILLION.

USA  USA!!


These are just government backed loans to private entities, in terms of national debt they are way further in debt than we are relative to GDP and they don't have the "We pay whatever interest rate we feel like paying" option the US does.  The US truly is playing global economics with all the cheat codes... we would be even better off if we stopped electing Republicans who keep cutting taxes when we should be paying down our debt and leaving Democrats a recession/depression when they're done farking everything up and get booted out of office.

Clinton was the last president who had a balanced budget, Biden and Obama walked into situations where they couldn't raise taxes or cut spending, Trump and Bush walked into economies where they should have.
 
2022-11-28 11:36:20 AM  
This has all been fine and good, you need to go in the red sometimes. But now, see, now Italy's gotta come up with the money no matter what. Business bad? Fark you, pay me. Oh, you had a fire? Fark you, pay me. Country got hit by lightning huh? Fark you, pay me.
 
2022-11-28 12:59:56 PM  

electricjebus: Sid Vicious' Corpse: Billions in debt?  pffft...rank amateurs. You want debt? how about $31 TRILLION.

USA  USA!!

These are just government backed loans to private entities, in terms of national debt they are way further in debt than we are relative to GDP and they don't have the "We pay whatever interest rate we feel like paying" option the US does.  The US truly is playing global economics with all the cheat codes... we would be even better off if we stopped electing Republicans who keep cutting taxes when we should be paying down our debt and leaving Democrats a recession/depression when they're done farking everything up and get booted out of office.

Clinton was the last president who had a balanced budget, Biden and Obama walked into situations where they couldn't raise taxes or cut spending, Trump and Bush walked into economies where they should have.


If one is following a Kenysian fiscal policy, Biden should have raised taxes/cut spending over a year ago when idiots on fark were certain inflation didnt exist or was going to end in three months.  It is a similar response to the feds raising rates.
 
2022-11-28 1:09:54 PM  

Eightballjacket: electricjebus: Sid Vicious' Corpse: Billions in debt?  pffft...rank amateurs. You want debt? how about $31 TRILLION.

USA  USA!!

These are just government backed loans to private entities, in terms of national debt they are way further in debt than we are relative to GDP and they don't have the "We pay whatever interest rate we feel like paying" option the US does.  The US truly is playing global economics with all the cheat codes... we would be even better off if we stopped electing Republicans who keep cutting taxes when we should be paying down our debt and leaving Democrats a recession/depression when they're done farking everything up and get booted out of office.

Clinton was the last president who had a balanced budget, Biden and Obama walked into situations where they couldn't raise taxes or cut spending, Trump and Bush walked into economies where they should have.

If one is following a Kenysian fiscal policy, Biden should have raised taxes/cut spending over a year ago when idiots on fark were certain inflation didnt exist or was going to end in three months.  It is a similar response to the feds raising rates.


Spending is down 8% YOY and Sinema made it clear she won't touch taxes because she's a moron.  That said, a number of the Trump/Ryan tax cuts expire in 2 years.  Everyone has successfully kicked that can to the next administration
 
2022-11-28 5:07:19 PM  

bighairyguy: And wine, lots and lots of wine:
[Fark user image 704x614]


Ahhhh...my people!

Fark user imageView Full Size
 
2022-11-28 5:25:20 PM  
Seems like it's the people holding that debt who have a problem on their hands.

/they're probably Italians
 
2022-11-28 6:48:00 PM  

NewportBarGuy: Sid Vicious' Corpse: Billions in debt?  pffft...rank amateurs. You want debt? how about $31 TRILLION.

USA  USA!!

We've been able to print our way out of our obligations for decades now. Italy has no such luxury. The ECB has bailed them and Greece out for a while now.

Eventually, all this sh*t comes due.


That's why you can't have a currency union without a fiscal union. Last time this happened, Germany bailed out Greece, but made Greece institute austerity measures. It did not go over well in Greece.

The European Debt Crisis Visualized Bloomberg Business
Youtube kbcvdKwmCtg
 
2022-11-29 12:36:04 AM  

raerae1980: bighairyguy: And wine, lots and lots of wine:
[Fark user image 704x614]

Ahhhh...my people!

[Fark user image image 500x230]


Tuscany in October was gorgeous, the Chianti region especially so.
Fark user imageView Full Size
 
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