Beppe Grillo's Blog

Survival Guide - Eugenio Benetazzo

Crisis Survival Guide
(12:00)

The night has to go by, but in the morning you have to arrive alive. Anyone who has been saving all their life, today is afraid of losing everything and having no money for their old age. The pension is getting further and further away and is by now having a competition with death to see which arrives first. Eugenio Benetazzo is giving some advice on how to protect yourself and he foresees (and he’s not the only one) a Europe with two different currencies: Euro 1 and Euro 2. I don’t need to say that we would be in Euro 2 until they create a Euro 3. Face up to the catastrophe with optimism and I’m warning you: don’t get into debt and if you are already in debt, get out if you can.

Interview with Eugenio Benetazzo, independent stock market trader:

The collapse of the PIGS
The sovereign debt crisis started two years ago with the implosion of Greece. Europe intervened at an institutional and supranational level guaranteeing everything to everyone, saving not just Greece, but then in a chain reaction, helping the big banking groups to avoid phenomena of financial contagion.
Two years later, we realise that that mythical rescue of Greece was a financial “illusion” and today we find ourselves experiencing an economic stalemate with indirect financial repercussions even on the other countries of the Mediterranean. After Greece, it’ll be Ireland’s turn, then Spain’s and Italy’s.
By now, Italy has been under siege for more than three weeks and this presupposes a difficulty to keep not just the price and the solvency of the Italian Government bonds, but also the credibility that the country has with the international financial communities. The choices that have been recently put into effect by means of the emergency measures of the current executive are the umpteenth proof of how those who are governing us are objectively unprepared and also incompetent, in that it was fairly plausible to imagine what would happen to our country over the years. Thus, for the umpteenth time, they have created the circumstances for sorting out this situation of difficulty, but in the medium and long term the measures that have been recently put into practice will be palliative. To say it like the British Prime Minister, David Cameron, even Italy will be obliged to take the so-called little blue pill, that is the really bitter medicine that will give the country a phenomenal momentous restructuring of the whole economy, starting with politics and going through to the administration of public affairs.

...

Euro 1 and Euro 2: two currencies for Europe
By now alerts are coming in from all sides, from academia, we mustn’t forget Roubini, Fitoussi, we mustn’t forget Attali, we mustn’t forget Zingales, and from the financial communities with big operators and fund managers

...

Italian banks
Italian banks or anyway the Italian banking panorama at the moment has to be divided into two sets: on the one hand there’s the big banking groups that represent the main competitors of the sector,

...

Soldi rubati - by Nunzia Penelope
I cittadini sono poveri perché i delinquenti sono ricchi {The citizens are poor because the delinquents are rich}
Buy your copy today.

Comments

Look who is prescribing the medicine. British Prime Minister, David Cameron, distant relative of the Windsors, former member of the Oxford gang, member of the British oligarchy, former destroyer of restaurants, sworn enemy of the alienated British youth goes around patronizing and saying Italians must swallow the bitter pill of their austerity program.

When you say "bitter pill for Italians" you really mean that the working class, the middle class, the pensioners, women and children, the unemployed youth, immigrants, homeless people and the rest of the downtrodden must swallow the bitter pill. Right?

But not for you and your ilk, nor for the bankers, the ceo's, the corporations that made huge profits by laying off people, the tax-evaders with their yachts at berth in Portofino "the bitter pill." Nothing but cakes for you and them, right? I hate vulgarities, but you know what Dave? Fuck you!

Posted by: Louis Pacella | August 22, 2011 06:34 PM

Dal Pompiere della Sera:

"UNIDIMENSIONALITA' ECONOMICISTA"

Writer: Robert B. Sherman; Lyrics: Robert B. Sherman

Um diddle diddle diddle um diddle ay
Um diddle diddle diddle um diddle ay
Supercalifragilisticexpialidocious!
Even though the sound of it Is something quite atrocious
If you say it loud enough
You'll always sound precocious
Supercalifragilisticexpialidocious!
Um diddle diddle diddle um diddle ay
Um diddle diddle diddle um diddle ay
Because I was afraid to speak
When I was just a lad My father gave me nose a tweak And told me I was bad
But then one day I learned a word That saved me aching nose
The biggest word I ever heard And this is how it goes:
Oh, supercalifragilisticexpialidocious!
Even though the sound of it
Is something quite atrocious
If you say it loud enough
You'll always sound precocious
Supercalifragilisticexpialidocious!
Um diddle diddle diddle um diddle ay
Um diddle diddle diddle um diddle ay
So when the cat has got your tongue
There's no need for dismay
Just summon up this word And then you've got a lot to say
But better use it carefully Or it may change your life
One night I said it to me girl
And now me girl's my wife!
She's supercalifragilisticexpialidocious!
Supercalifragilisticexpialidocious!
Supercalifragilisticexpialidocious!
Supercalifragilisticexpialidocious!

Posted by: Louis Pacella | August 22, 2011 03:22 PM

There is no debt problem. The money is there. The only problem for Governments is to take it back from the banks, corporations and wealthy individuals and organized crime that have stashed trillions away in the world's tax havens that the same Governments have tolerated and sponsored for too long. The whole financial system must be regulated, separating retail and investment banking and brought back under Government control to serve the economy rather than steal from it. Indebted nations cannot go bankrupt in the sense of companies. They can not disappear or be sold off piecemeal. Governments can refinance with low interest rates over a long period whether the markets like it or not.

Posted by: peterfieldman | August 22, 2011 11:57 AM