Italian Economic Health Worst Since Mussolini

Tyler Durden's picture

Italian debt jumped in 2012 to 127 percent of gross domestic product from 120.8 percent a year earlier. As Bloomberg notes, that's the most since 1924, when Mussolini won 64 percent of the popular vote in elections that opposition members said were marked by irregularities. While the only irregularities in the current election were the electorates dismissal of the status quo - as Monti’s policy mix prompted 25 percent of voters to back the anti-austerity stance of comedian-turned-politician Beppe Grillo’s Five Star Movement, which was the single most voted party in the country - it appears people have misunderstood the concept of austerity as spending has risen almost 3% in the last three years and taxes have not kept pace.



Charts: Bloomberg

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
gjp's picture

Italians should stop paying their utility bills and funnel it all into AMZN, LNKD, CRM, etc.  Within a couple of months the economy would be humming.  Ben would approve.

Haus-Targaryen's picture

Hurrah for European Unity. 

<--- Click here if you agree. 



Glass Seagull's picture



Neckline bitchez!

Idiocracy's picture

I know this is off topic, but I had to get it off my chest:

You know what New York would be in a world without the Fed?

Answer: Philadelphia

Dr. Engali's picture

Just the way the bankers like it.

lolmao500's picture

When will the hanging start already?? I'm readying the popcorn!

ebworthen's picture

Maybe the spending increase was on guns and ammo (?).

Redhotfill's picture

NOPE!  Loads of Fiochi Ammo and even Small Rifle Primers here in Montana, all from ITALY.  So I take it that they are so hard up to make a sale they are even selling to US.

Kaiser Sousa's picture

que the scene from the Godfather where Johnny Fontaine is crying like a bitch about the role the Jew Boy wont give'em....what did Vito tell'em????

"you can act like a man....."

fucking Itailians - grow some fucking balls and then cut off some fucking balls - will ya!!!!!!

Vashta Nerada's picture

I keep hearing about austerity programs.....  The textbook definition of austerity is the reduction of spending, but all I see is increased taxes and increased spending.  I think they are doing it wrong.

WarHorse's picture

You have your countries confused ... that's what's going on in the U.S.

Son of Loki's picture

"Better then expected."

milanitaly's picture

We want to become the worst nightmare for Merkel.

Thanks Goldman Monti.

V for revenge


lolmao500's picture

In other news, the FSA has killed dozens of Iraqis and Syrians soldiers in western Iraq...  Iraq about to mobilize troops and kick some FSA asses??

PontifexMaximus's picture

who the hell cares about it, as long super mario is in Frankfurt doing God's work, tutto va benissimo!

ShortTheUS's picture

Get well soon, Carlo!

Edward Fiatski's picture

Time for another round of Blitzkrieg across Europe!!

SteelRust's picture

Kill the banksters! Kill the politicians!!




An Italian.

Sudden Debt's picture

Mussolini did have a better German coalition than Berlo does. Just saying...


Jack Sheet's picture

So Grillo is a comedian - so fucking what? Reagan was a two-bit actor.

Terminus C's picture

Ray-gun did what he was told.  I suspect Grillo will too... with the proper... prompting...


IamtheREALmario's picture

The western people has paid a heavy price to resurrect China and bring it into the fold of western corruption.

zdk45's picture

not being much of an afficianado of history, anyone know how this Mussolini character ended up? Good I hope.


smacker's picture



      "Italian Economic Health Worst Since Mussolini"

This is sooooooooo funny, I dunno what to say :-)

Bunga Bunga's picture

Looks like fascism is able to solve the debt problem.

lemarche's picture


Bunga Bunga's picture

Who is not a clown who is in politics?

Dareconomics's picture

Don't be so hard on the Italians.  They have been running a primary surplus for over two decades.

Motorhead's picture

Train kept a'rolling, all night long

Train kept a'rolling, all night long...