Recovery? Italy's Poor Population Has Tripled In Last Decade

Tyler Durden's picture

Is it any wonder the Italians are revolting against the European Union?

Italians living below the level of absolute poverty almost tripled over the last decade as the country went through a double-dip, record-long recession. As Bloomberg reports, the absolute poor, or those unable to purchase a basket of necessary goods and services, reached 4.7 million last year, up from almost 1.7 million in 2006, national statistics agency Istat said Thursday. That is 7.9 percent of the population, with many of them concentrated in the nation’s southern regions.

For decades, Italy has grappled with a low fertility rate -- just 1.35 children per woman compared with a 1.58 average across the 28-nation European union as of 2015, the last year for which comparable data are available.


“The poverty report shows how it is pointless to wonder why there are fewer newborn in Italy,” said Gigi De Palo, head of Italy’s Forum of Family Associations.


“Making a child means becoming poor, it seems like in Italy children are not seen as a common good.”


The number of absolute poor rose last year in the younger-age classes, reaching 10 percent in the group of those between 18 and 34 years old. It fell among seniors to 3.8 percent in the age group of 65 and older, the Istat report also showed.

Just a good job the government spent the equivalent of its entire defense budget bailing-out the bankers...

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Pernicious Gold Phallusy's picture

Ummm. Are you talking about the people who just moved there, or people who were born there?

Four chan's picture

the subhuman rapefugees make up a considerable portion of this sad sack number im sure.

Haus-Targaryen's picture

Anyone of those "poor" who supports the EUR as a currency or the EU as a political unit I have absolutely zero sympathy for.  Let them eat cake and drink the finest whiskies. 

Anyone of those poor who hate the EUR and the EU, they have my deepest sympathies.  

rado_watching's picture

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do...

silverer's picture

You need to spam your plan in Italy.

silverer's picture

Yep. Here's a review of the website this dick fuck wants you to go to.

RATED SCAM. Go fuck yourself, loser.

Four chan's picture

have the italians figured out the ngos set up the departure boats and the "rescue boats for the "invasion" yet?

Jubal Early's picture

How many of this increase are truly Italian and how many are Romanians, Yugoslavs, Muslims and Africans?  The real Italian poverty rate could have decreased. 

back to basics's picture

Oh, I get it, this explains why virtually ALL political movements in Italy have abandoned the notion of exiting the euro. It's all clear to me now.

Ghordius's picture

the article is missing all context, all comparisons, everything

7.9%? ehm.... have you compared to... the US or UK, for example?

no? ah, it's a "rant away, disregard contradictions" article. well, rant away

gladitsover's picture

Context? How about the capitalist piggs running amok in the barn under protection of the state's monopoly on the use of force.

Haus-Targaryen's picture

It isn't capitalist "piggs" destroying the system, it is just the nature of a capitalist system in its very late stages.  

Capitalism rots from the head down, and Socialism rots from the bottom up. 

Being the only person on ZH (that I know of) who has read both The Wealth of Nations and Das Kapital, both Marx and Smith missed how human greed makes these systems unsustainable long-term. 

Under Socialism the incentive to work and better yourself is removed from the population, and greed sets in as everyone does the bare minimum to get by, because there is no point in doing more. Everything goes to shit.

Under Capitalism the "monied" classes (top 0.01% not top 1% as many idiots like to point out) attains power and greed sets in as corruption keeps them and their money in power, even at the disadvantage of everyone else.  Everything goes to shit. 

I think the biggest travesty on BOTH sides of the economic spectrum that *both* share is that they both believe "Socialism" is synonymous with "Marxism", which it most definitely is not. 

Marxist Socialism = No car company as everyone is trying not to starve to death. 

Capitalism = Car company builds cars where cheapest labor and laxest environmental laws exist.  HQ = Germany, part production = Poland and China. As time goes by more and more jobs are destroyed in the country of origin to relocate them to lowest cost centers. 

"National" Socialism = Car HQ builds cars in nation, as .gov makes cost of re-import punitive.  HQ = Germany, majority part production = Germany.  "Growth" of company and its potential for growth is dramatically reduced. 

For people who have been reading my posts for sometime, this one is out of character, but I have had some serious issues with our system and the ideals that "capitalism" is based on.  

For a time, it works -- but then corruption sets in and it, like a fish, rots from the head down.  We've been rotting for some 40 years now. 

EDIT - The problem with the "Socialst" model is power vests in the state, which is run by man and is also corrupt at the end.  Traditonally the state has power of life and death whereas private enterprise does not.  Thus, in the late stages of "Socialist" paradises -- there is rampant death and starvation as the political classes remain in power.  I think the economic systems of the 19th century need to be re-visited.  Monarch/dictatorial rule mixed with the free markets.  Seemed to work well. 

Lockesmith's picture

Under STATE Capitalism the "monied" classes (top 0.01% not top 1% as many idiots like to point out) attains power through the STATE and greed sets in as the STATE keeps them and their money in power, even at the disadvantage of everyone else.  Everything goes to shit. 



Haus-Targaryen's picture

Well, yes.  

I'd be interested to know if you think capitalism doesn't lead to state capitalism, as you describe it above.  

I think we need a couple economists to be in the drafting sessions of the next round of constitutions that come about. "If total debt as a percentage of the population reaches this figure, all debt is forgiven and there is a system-reset" or something along those lines. 

The moral hazard for people with money to bribe those with power to make sure those with money keep it is human nature, its also why we find ourselves in the shitshow that we do right now. 

piliage's picture

Adam Smith didn't figure this out, Schumpeter did. He's the one who said that capitalism's failing is an 'intellectual class' would constrain capitalism and thus impede creative destruction.

Intellectuals are people who wield the power of the spoken and written word, and one of the touches that distinguishes them from other people who do the same is the absence of direct responsibility for practical affairs.... The critical attitude [arises] no less from the intellectual's situation as an onlooker—in most cases, also an outsider—than from the fact that his main chance of asserting himself lies in his actual or potential nuisance value

According to Swedish researchers Magnus Henrekson and Ulf Jakobsson

The entrepreneurs were, according to Schumpeter, the backbone of the bourgeoisie, thus providing capitalism with its institutional and political basis. By destroying the entrepreneurs through its effectiveness, capitalism would also destroy its own political foundation. In an economy that is increasingly dominated by giant corporations and devoid of entrepreneurs, the defense of capitalism has no constituency. Instead, capitalism will have to confront increasing hostility. Here the intellectuals were, according to Schumpeter, going to play an important role in formulating a criticism against the capitalist system and its institutions. Eventually, a democratic and peaceful transformation of the economy to socialism would take place.

In short, yesterdays creative destroyers are today's crony capitalists. The US MUST support a free market system to allow creative destruction to continue.

rmopf2010's picture

Don't forget welfare state/big government jobs who vote for socialism ?

If wasn't for these votes there was no socialism anywhere in the world.

Unless the mininum wage "dindos" no private worker ever votes for socialism.

The problem in almost western countries is that welfare state/big government jobs grew so much, that they're the majority of the population and now it is impossible for the private sector to gain so much wealth to feed the state dependents, so we see rampant poverty among the "pigs" countries.

How many of these Poor Population has a gubermint job ?

How many of these Poor Populationhas a pension by working for gubermint ?

You won't find poors among public workers!!!! it's time to say this OUT LOUD

Private workers are being squeezed of their income through never ending taxes

rmopf2010's picture

Unlike you, I consider €uro was a good ideia until political parties saw €uro as a tool to win elections

Cheap money so they could buy more "votes"!

How many state dependents were in Italy before €uro ?

How many state dependents are in Italy now ?

This is the great problem the PIGS countries face, but also the USA !!!

Too much socialims, now it is going to be hard to reduce that Big government/welfare state

"Those who make peaceful revolution impossible will make violent revolution inevitable."




Haus-Targaryen's picture

I don't have a problem with the idea of the euro, but rather the constellation.  

Germany and France have absolutely no business sharing a currency.  Latvia and Portugal have absolutely no business sharing a currency. 

Group similar countries together to create price stability -- fine with me.  Group countries together based on geography as an excuse to create the United States of Europe -- bad idea. 

rmopf2010's picture

One thing for sure:

We'll never know if was German ideia to give cheap money to PIGS countries or was an unatended consequence


Haus-Targaryen's picture

Knowing many bankers, likely a chase for yield

"Why lend to house buyers at 4% when we can lend it to Spanish home buyers at 6% and there is no FX risk anymore?  I mean, whats the worst that can go wrong?"

Then group think kicks in as a few funds start raking in larger returns and then the flood-gates opened.

But that is just a guess.  

rmopf2010's picture

This is always be a tough question to anser like: "who was born first the egg or the chicken"

I think that the root of the problems was low interest rates that led to big socialism gubermints/welfare in PIGS.

But these you'll never find in MSM talking how welfare/big govenment is the elephant in the room!

Bbecause MSM is mainly covertly funded by public unions that are "military organized" they have trolls in every forum so that this truth does not come to peoples minds

"Never before had so many people been hired by the state, with such salaries, pensions and benefits—to the point where the average government job paid almost three times the salary of the average private-sector job. An egregious but not isolated example was the national railroad company, which had annual revenues of €100 million against an annual wage bill of €400 million, on top of €300 million in other expenses. This is how the average state railroad employee came to earn €65,000 a year."

Ghordius's picture

right. New York and Michigan, California and Ohio, Texas and Washington, they all have a business sharing a currency

even worse: a gold standard

imagine that: the whole world sharing a currency

my goodness, what where they thinking, in the 19th Century? we know that sharing a currency is bad even among spouses

oh, and price stability? of course it does not work, eh? except in factual reality, but we don't discuss that

Haus-Targaryen's picture

All those states have more similar cultures, values and a common history (where they weren't constantly killing one another in huge numbers) than Germany and France do, for example. 

I'm fine with a gold standard currency, so long as individual nation-states have the freedom to come and go based upon their own domestic decisions.  

With your joke of a currency, not only is it fiat based, so it can be printed ad infinitum, but individual nation-states don't have the ability to come and go as they please?  Why?  Because leaving and subsequent devaluation would destroy the entire thing, unlike a gold-standard. 

Seriously Ghordo, you attempting to conflate a gold standard with the EUR is one of your more outlandish comparisons yet.  

Ghordius's picture

a more similar culture?

I see a huge culture war, raging in the US. US(R) vs US(D), locked in a no compromise, no debate, no shared views culture war bordering a "Civil Cold War", each with it's own networks of "news" and claiming (with right, imo) that the other sides is only "fake news" and propaganda

on the other side, I see Germans, French and Italian having a consensus. including on how, (all 27 countries, mind) negotiate Brexit with the UK

I see cooperation between Germans, French and Italians with 24 other countries... despite the different languages

meanwhile, I don't even recognize the same English vocabulary being used between the snowflakes on the Right and the snowflakes on the Left, in the US

(you are yourself a Culture Warrior... and you don't even see it)

methinks it's a bit of a lack of understanding from your side what a culture is. if you aren't able to communicate, to agree on something, to co-operate... it is not one culture anymore

(meanwhile, the EU27 are, since WW2, on the path of cultural co-operation among european cultures)

rmopf2010's picture

EU and US were "voted" by comunism V2.0 aka socialism, so they both have huge problem.

Ex: When we see comments from the both side of the Atlantic we see generous public pensions were given without sustainable counterpart

How was it possivel a person to pay for social security/fund 11.5% of their income during 35 years and get entitled to 100% during 20 years ?

Math don't add, millions are getting pensions they didn't pay for them !!!!!!!!

They're stealing from their sons and grandsons

Now that huge pile of debt everyone knows

josie0802's picture

Oh really? I see EU 27 pushing and fighting and loosening bonus policies in order to suck in in EMA, banksters and the likes.

Haus-Targaryen's picture

A nation and thus a currency has to have a common culture as a base point.  

The U.S. has a much more similar culture among the states than Germany and France does.  Granted, the U.S. and its "culture" are in the process of tearing itself apart, and with some luck the U.S. ends up like the Czech Republic and Slovakia and not Yugoslavia. 

Regrettably for your point of view "working together*" does not a common culture make. 

*This "unity" is based on a media feeding lies to the population on such a scale -- Herr Goebbels would be green with envy what the BND has pulled off. 


Volaille de Bresse's picture

"the Italians are revolting?"


I don't think so I think they're great people. I wish they were a bit more patriotic but hey Italia is a very young country.

TheSilentMajority's picture

Simple issue here.....Illegal migrants are suppressing wages dramatically and pushing citizens out of employment.

YouJustCouldnt's picture

If Americans are considering a vacation in Europe they better do it sooner rather than later.  In time Europe will end up being a combination of South Africa and Afghanistan.

YouJustCouldnt's picture

If Americans are considering a vacation in Europe they better do it sooner rather than later.  In time Europe will end up being a combination of South Africa and Afghanistan.

YouJustCouldnt's picture

If Americans are considering a vacation in Europe they better do it sooner rather than later.  In time Europe will end up being a combination of South Africa and Afghanistan.

Ghordius's picture

well, Italy is fully booked, for this year

in fact, tourism is booming, in Italy. see:

Tourism in Italy - Wikipedia

"With 48.6 million tourists a year (2014), Italy is the fifth most visited country in international ..... Due to increased tourism, in November 2016, Venetian authorities ... "

Italy fears being swamped by too many tourists as visitors shun crisis ... (Telegraph article 2016)

Record Number of Tourists Visiting Italy in 2016 | Italy Travel

"Italy has seen a steady rise in tourism over the past years, and while good for its economy, the number of visitors that descend upon the ... "

Tourism - Istat

"Trips and holidays in Italy and abroad: In 2016 trips with overnight stays made by residents were 66,055 million (+13.7% compared with 2015) "

Stormtrooper's picture

Sounds like everyone except the Italians are enjoying life in Italy.

Ed Jobb's picture

You know why Italy's shaped like a boot...

You can't fit that much shit in a shoe.

Trisy's picture

Or just to kick the foolish ones


sorry mr. italian, your money will be used by EU kikes to finance saudi shit skin migrants welfare

i still have a message to you: haaaaaaahaaaaaaaaaaaaaaaaaaaa

Dominus Ludificatio's picture

You do not need statistics to tell you the severity of the problem.Look around in many parts of Italy and all you see are for sale signs,abandoned buildings and no buyers.

InnVestuhrr's picture

This post must be false, otherwise why would the Italian and EU governments be importing the poverty of Africa ???????

abgary1's picture

Got love being part of the European Union.