70 billion euro in interest

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70 billion euro in interest. You have been paying this together with all Italians. And the coming year it’ll be more. At night, before you close your eyes to go to sleep, think of the interest payments on YOUR public debt. Put aside ten euro in the glass on your bedside table.
Before investing in social structures and security structures, the State last year had to pay 70 billion euro. The State is us. The interest payments were paid by us through our taxes. For every euro given to the taxman, a part has been used for the interest. It’s as though, you with your salary had to pay a loan shark before the mortgage on the house, the children’s day care, the shopping and the utility bills for gas and electricity. The difference between the State and the loan shark is that the State got you into debt without asking your permission. The loan shark at least lent you the money. If however you buy a bit of the public debt through the issuing of State bonds you could even get even. The taxes paid for the interest on the public debt will be transformed into interest from State bonds.
The debt has reached 1,629.7 billion euro (in September 2005 it was 11,542.4 billion euro). Each year it increases thanks to the new interest to be paid and to the deficit in the accounts (the difference between money coming in to the State and money going out). It’s a maddened train that has to be stopped by reducing the costs of the State. Cut bureaucracy, Provinces, group together villages, investments without funds and without future like the TAV in Val di Susa (15 billion euro) or the Messina Bridge (4/5 billion euro), useless public bodies, etc. etc.
The governments must not be able to create holes in the balance of the accounts, the outgoings must be equal to (or less than) the income. If they are bigger, let the President of the Council pay the difference.
The young generations are the victims of the public debt. Less money for research, for the school, for innovation means less opportunity for work. It is the society of the “big babies”, that has come after the society of the “big eaters”.
To tranquilize the Italians, the public debt is compared to the GDP. Today the debt/GDP ratio is 105. If the GDP, that is the Italian Gross Domestic Product increases in a year, the catastrophe gets further away. But the GDP is slowing down, coming to a stop, and in 2008 could get less. And for the debt/GDP ratio we are next to the bottom in Europe out of 27 countries, followed only by Hungary.
Public spending is the main resource of Italian politics: they even spend the money they don’t have for lobbyists, votes and clients. They are getting us into debt, and above all our offspring.

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Posted by Beppe Grillo at 11:25 AM in | Comments (8)
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The sad fact is that millions of Italian people HAVE chosen this by electing governments that fail to obey basic rules of public finance, above all Berlusconi. Fine for Beppe Grillo to get angry with the politicians, but they only have power because people vote for them. Grillo should be shouting at the stupid idiots who vote to destroy their own country, not their representatives. V*****culo to them!

Posted by: Robert Carruthers | March 18, 2008 03:50 PM

Don’t believe one optimistic word from any public figure about the economy or humanity in general. They are all part of the problem. Its like a game of Monopoly. In America, the richest 1% now hold 1/2 OF ALL UNITED STATES WEALTH. Unlike ‘lesser’ estimates, this includes all stocks, bonds, cash, and material assets held by America’s richest 1%. Even that filthy pig Oprah acknowledged that it was at about 50% in 2006. Naturally, she put her own ‘humanitarian’ spin on it. Calling attention to her own ‘good will’. WHAT A DISGUSTING HYPOCRITE SLOB. THE RICHEST 1% HAVE LITERALLY MADE WORLD PROSPERITY ABSOLUTELY IMPOSSIBLE. Don’t fall for any of their ‘humanitarian’ CRAP. ITS A SHAM. THESE PEOPLE ARE CAUSING THE SAME PROBLEMS THEY PRETEND TO CARE ABOUT. Ask any professor of economics. Money does not grow on trees. The government can’t just print up more on a whim. At any given time, there is a relative limit to the wealth within ANY economy of ANY size. So when too much wealth accumulates at the top, the middle class slip further into debt and the lower class further into poverty. A similar rule applies worldwide. The world’s richest 1% now own over 40% of ALL WORLD WEALTH. This is EVEN AFTER you account for all of this ‘good will’ ‘humanitarian’ BS from celebrities and executives. ITS A SHAM. As they get richer and richer, less wealth is left circulating beneath them. This is the single greatest underlying cause for the current US recession. The middle class can no longer afford to sustain their share of the economy. Their wealth has been gradually transfered to the richest 1%. One way or another, we suffer because of their incredible greed. We are talking about TRILLIONS of dollars. Transfered FROM US TO THEM. Over a period of about 27 years. Thats Reaganomics for you. The wealth does not ‘trickle down’ as we were told it would. It just accumulates at the top. Shrinking the middle class and expanding the lower class. Causing a domino effect of socio-economic problems. But the rich will never stop. They will never settle for a reasonable share of ANYTHING. They will do whatever it takes to get even richer. Leaving even less of the pie for the other 99% of us to share. At the same time, they throw back a few tax deductable crumbs and call themselves ‘humanitarians’. Cashing in on the PR and getting even richer the following year. IT CAN’T WORK THIS WAY. Their bogus efforts to make the world a better place can not possibly succeed. Any 'humanitarian' progress made in one area will be lost in another. EVERY SINGLE TIME. IT ABSOLUTELY CAN NOT WORK THIS WAY. This is going to end just like a game of Monopoly. The current US recession will drag on for years and lead into the worst US depression of all time. The richest 1% will live like royalty while the rest of us fight over jobs, food, and gasoline. Crime, poverty, and suicide will skyrocket. So don’t fall for all of this PR CRAP from Hollywood, Pro Sports, and Wall Street PIGS. ITS A SHAM. Remember: They are filthy rich EVEN AFTER their tax deductable contributions. Greedy pigs. Now, we are headed for the worst economic and cultural crisis of all time. SEND A “THANK YOU” NOTE TO YOUR FAVORITE MILLIONAIRE. ITS THEIR FAULT. I’m not discounting other factors like China, sub-prime, or gas prices. But all of those factors combined still pale in comparison to that HUGE transfer of wealth to the rich. Anyway, those other factors are all related and further aggrivated because of GREED. If it weren’t for the OBSCENE distribution of wealth within our country, there never would have been such a market for sub-prime to begin with. Which by the way, was another trick whipped up by greedy bankers and executives. IT MAKES THEM RICHER. The credit industry has been ENDORSED by people like Oprah, Ellen, Dr Phil, and many other celebrities. IT MAKES THEM RICHER. Now, there are commercial ties between nearly every industry and every public figure. IT MAKES THEM RICHER. So don’t fall for their ‘good will’ BS. ITS A LIE. If you fall for it, then you’re a fool. If you see any real difference between the moral character of a celebrity, politician, attorney, or executive, then you’re a fool. WAKE UP PEOPLE. ITS ALL ABOUT THE MONEY. The 1% club will always say or do whatever it takes to get as rich as possible. Without the slightest regard for anything or anyone but themselves. Vioxx. Their idea. Sub-prime. Their idea. NAFTA. Their idea. Outsourcing. Their idea. The commercial lobbyist. Their idea. The multi-million dollar lawsuit. Their idea. $200 cell phone bills. Their idea. $200 basketball shoes. Their idea. $30 late fees. Their idea. $30 NSF fees. Their idea. $20 DVDs. Their idea. Subliminal advertising. Their idea. The MASSIVE campaign to turn every American into a brainwashed credit card, pharmaceutical, love-sick, celebrity junkie. Their idea. All of which concentrate the world’s wealth and resources and wreak havok on society. All of which have been CREATED AND ENDORSED by celebrities, athletes, and executives. IT MAKES THEM RICHER. So don’t fall for their ‘ good will’ ‘humanitarian’ BS. ITS A SHAM. NOTHING BUT TAX DEDUCTABLE PR CRAP. Bottom line: The richest 1% will soon tank the largest economy in the world. It will be like nothing we’ve ever seen before. and thats just the beginning. Greed will eventually tank every major economy in the world. Causing millions to suffer and die. Oprah, Angelina, Brad, Bono, and Bill are not part of the solution. They are part of the problem. EXTREME WEALTH HAS MADE WORLD PROSPERITY ABSOLUTELY IMPOSSIBLE. WITHOUT WORLD PROSPERITY, THERE WILL NEVER BE WORLD PEACE OR ANYTHING EVEN CLOSE. GREED KILLS. IT WILL BE OUR DOWNFALL. Of course, the rich will throw a fit and call me a madman. Of course, their ignorant fans will do the same. You have to expect that. But I speak the truth. If you don’t believe me, then copy this entry and run it by any professor of economics or socio-economics. Then tell a friend. Call the local radio station. Re-post this entry or put it in your own words. Be one of the first to predict the worst economic and cultural crisis of all time and explain its cause. WE ARE IN BIG TROUBLE.

Posted by: Joe D | March 5, 2008 05:50 PM

I think nobody interviews Ron Paul because he is a naive wacko, like all libertarians. Their fantasy world rhetoric sounds a lot like Karl Marx.

Yes, young people like Ron Paul, but that is because they are naive, which is not a new condition for young people.

Kudos for shaking up the debate, but no, I'm not interested in disbanding the entire government in favor of "self-rule" just yet.

Posted by: TenTenTwo.com | March 4, 2008 11:07 PM

List of countries by public debt

Posted by: Leanne Duggan | March 4, 2008 07:05 PM

Dear world citizens,

http://it.youtube.com/watch?v=m3nfjFId_qI The first video can clear a little the actual economic US situation.
A Congressman Ron Paul is running for US Presidency often not in TV because against big economic powers.
But if you Google Ron Paul you can have an idea why he is erased mostly from the media
That is why he is mainly on internet, young Americans are going back to vote after decades because of him . Italy and many
other countries G7 countries censor him because his message disturb big economies and banks powers. It's good to know
and if you like to spread the free voice around feel free to do so. After several days of research I found that this site correspond
to some truth http://www.apfn.org/apfn/reserve.htm the other part still a secret . Wikipidia "Fedearl Reserve" click
on federal reserve act, more then money trust doesn't explain. Would be nice as also morally important to deep this truth,
we are in the end all citizens of this world ....journalists are welcome to act accordingly. The usures own big chunks of media shares..and often they lend money, in change they don't even ask for self censorship...it's common sense that is applied ... the revenge of course is to be fired.

and this three

http://www.sovranitamonetaria.org/ for who have some Italian knowledge click on BCE ...and we are not much better.... http://sovranitamonetaria.org/documents/Partecipanti-BCE.html
Greetings to All

Posted by: Gualtiero Cocco | March 4, 2008 04:36 PM

In Italy the public debt only purpose is to make filthy rich the italian politicians.
In the civilised countries the public debt is an investment for the future generations.

Posted by: giuseppe vidozzi | March 4, 2008 03:11 PM

It is the same in most parts of the world. The banks own everything, even in the USA!! We pay taxes in the US also to pay the interest we owe to the Federal Reserve which is a PRIVATE bank!!!!

Posted by: Vincent Lagana | March 4, 2008 12:55 PM

Hope God will save us!!!!! but the thing that drive me mad at the most (sometime i can't sleep thinking about)is that people in Italy STILL goes in the squares and clapping their hands approving with their heads to Berlusconi or Veltroni or whoever belongs to the Casta without even get something of what they said (only liars naturally)
actually now i really wish that GOD WILL TAKE ALL OF THEM !!!!!!!!!!!!!

Posted by: frau gionata | March 4, 2008 12:11 PM

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