The Post Office and Little Old Ladies

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If you go into the Post Office to send off a parcel or a registered letter have a look around.
By now almost all the tills are only dealing with current accounts and investments. The Post Office has changed its spots and they are concerned above all to compete with the Banks.
And not just that, they are also competing with shops by selling music, books and improbable objects.
Once upon a time there were with profits Bonds, that for many were a great investment. Anyone who invested 1,000 lire in them 20 year ago got 6,250 (3.23 Euro). Anyone investing in ordinary Bonds would have ogled that kind of return.
Now the Post Office employees propose Bonds with obscure regulations, investment funds and integrated life insurance. The same products that the Banks are selling. They are expensive, risky and unclear. The global consultants chase after the little old ladies clutching their pensions so that they can offer them “futures”.

Anyway, every so often the Post Office comes out with something really tasty. For example indexed with profit bonds. They have only just arrived on the market and yet they are less risky than ordinary Bonds. Their good and their few bad points are explained in detail on the site of the Maths Department at the University of Turin.

To all those who are keen to find ruin I suggest you buy shares in the most highly indebted companies quoted on the Stock Exchange. This will allow their managers and the controlling shareholders (with quotas that are like telephone prefixes) and with salaries that are millions of Euro as well as stock options.
Ruin yourselves for them. They will appreciate it.

Posted by Beppe Grillo at 05:27 PM in | Comments (4)
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Comments

About the Post Office issue I have just one word: SHAME.

It is once again a SHAME to see the long hand of Mr. Berlusconi economic empire to shed ruin on Italian public sector.

Let me say it straight, I am not against privatization of public sector at all, but it must produce a competitive advantage on the market for the organization and not exclusive advantage for one person’s pockets.

The service level is still the same, expeditions prices rose, investment rates dropped (I still have a libretto postale issued by my granny when I was 13 y.o.) and I still keep it open, more for love toward my dead granny than any real money interest.

If I want my money to grow I invest in Netherlands were rates and service are good and cost moderate.

Rgrds,

M.G.

Posted by: maena gambaiani | April 7, 2006 08:18 AM


If I could take $5 everytime Mr. B says something stupid I would be rich beyond belief.
Somebody has only to suggest me how to capitalize this thing.

Posted by: Giovanni Principe | April 7, 2006 03:04 AM


Quoque tu Blisco!!!!!!!
Why do you wrote in italian????? ;-) ;-)
Anyway: I'm not interested in investments, I drift along and that's my free choice.
But I know a lot of people who have been ruined because of bad investiments, suggested from bad financial advisors!
I don't trust anybody, in this field!

Posted by: Raffaella Biferale | April 6, 2006 11:53 PM


Credo che negli altri paesi europei succeda anche di più come in Belgio dove piazzando il tuo piccolo gruzzolo per 5 anni ne ricavi 33% in più:-)

Posted by: blisco jajo | April 6, 2006 10:36 PM


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