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The sadness of Italy.

Posted by Adrian on December 20, 2007

I will be taking a break with morbius glass blog postings filed under Finance and Economics. Strategy and Society. Blog updates will begin early next year. It has been, to say the least, and incredible year for the world financial markets. The housing turmoil in America, worldwide liquidity/credit problems and declining and slowing (in some case rapidly) economies through out the world. Overshadowed also by high inflation.

There is no intention for a depressive outlook, but as a trader I want to be informed about the world markets. As a person, I want to be aware of the social/economic problems and it’s implications on our society.

I will conclude morbius glass Finance and Economics. Strategy and Society for 2007 with a sad reminder of what happens when a country is on the verge of a financial collapse, or a social/economic depressed situation within that society. The country is Italy. Which was followed briefly in some of my blog posting throughout 2007, but only regarding Italy’s low birth rates and lagging GDP.

Italy was one the lagging countries in the European economic boom. It’s has suffered high inflation and competition from China with manufacturing, furniture, clothing. Bloomberg Dec 17 2007

“Dec. 17 (Bloomberg) — Dressed in his best Sunday suit, Fausto Cepponi took his wife and seven-year-old son out for dinner — at a soup kitchen.

“I never thought I would be in this position,” said Cepponi, 45, a security guard, dining in an 800-seat charity cafeteria near Rome’s main train station. “I have a job, I had a car, but everything has become so expensive and what I earn just isn’t enough. I panic every third week of the month.”

Also very good article in the New York Times. In a Funk, Italy Sings an Aria of Disappointment

Have a good break, be safe enjoy time with family and friends. Watch the markets very carefully, be careful and good luck into 2008.

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One Response to “The sadness of Italy.”

  1. […] far as a depressed economy is Italy. This was discussed late last year on morbius glass filed under The Sadness of Italy. Italy is a good indication of a country that has a collapsed industry, rising prices, inflation […]

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