Monthly Archives: February 2013

Nervous Brussels urges Italy to stick to austerity

"The European Commission has urged any future government in Italy to keep on implementing deficit-cutting measures, despite the fact that over half the electorate voted for anti-austerity parties. 'Last Friday the Italians were speaking quite clearly about debt-reduction commitments as well as a series of other commitments. These Italian commitments remain in force and the commission expects compliance,' commission spokesperson Olivier Bailly said. His comments come after elections in Italy put former comedian Beppe Grillo, who ran on an anti-austerity ticket and has called for a referendum on euro membership, in kingmaker position." Continue reading →

Continue ReadingNervous Brussels urges Italy to stick to austerity

Italy’s anti-austerity ‘rebellion’ promises to spread

"Any doubts that Italians were fed up with tax hikes and economic reform vanished in an election that awarded more than half of the votes to anti-austerity parties. As Italian voters supported the anti-austerity parties, they also punished the centrist, pro-austerity alliance led by Mario Monti, the technocrat prime minister who replaced Mr. Berlusconi at the height of the Italian financial crisis in late 2011. Mr. Monti rolled out a series of tax hikes, including a hated property tax that Mr. Berlusconi vowed to kill, and attempted economic reforms that met with partial success. For that, his alliance got 10 per cent or less of the votes." Continue reading →

Continue ReadingItaly’s anti-austerity ‘rebellion’ promises to spread

Italian Business Taxpayers Feel ‘Persecuted’

"A nationwide poll of 2,500 businesses by Confedercontribuenti, an association of Italian taxpayers, has found that they are being harassed in their dealings with the country’s complex tax system, which is viewed as extremely complex and persecutory. On average, each company receives about 29 annual alerts regarding its obligations tothe system’s various tax authorities and collectors. Above all, it is calculated that it takes each business an average of about 250 hours per year to resolve the issues raised by the total of 13 different institutions responsible for the Italian tax and social security system." Continue reading →

Continue ReadingItalian Business Taxpayers Feel ‘Persecuted’

ECB bailout plan in jeopardy as Italy’s voters reject conditions

"'The result touches us all,' said Spain’s foreign minister, Jose Manuel Garcia-Margallo. 'It is a jump into the void that bodes well for nobody, neither for Italy, nor for the rest of Europe.' Almost 57pc of the Italian vote went to parties that have vowed to tear up the EU austerity script. Together they control a majority of senate seats. The Five Star movement of comedian Beppe Grillo, which won 25pc of the vote, has called for a euro referendum and has a return to the lira as one of its manifesto pledges, while ex-premier Silvio Berlusconi has threatened to pull Italy out of the currency bloc unless the EU switches to a reflation strategy." Continue reading →

Continue ReadingECB bailout plan in jeopardy as Italy’s voters reject conditions

Bank of England’s Tucker Says He’s Open to QE as BOE Stresses Flexibility

"Bank of England Deputy Governor Paul Tucker said he’s open to adding to asset purchases as policy makers stressed the central bank has the flexibility to expand stimulus if needed. Tucker was testifying alongside policy makers David Miles, Charlie Bean and Ian McCafferty at a Parliament hearing in London today on the BOE’s latest quarterly forecasts. The BOE has said it will 'look through' a period of above-target inflation to keep nurturing growth, which Bean said 'made sense' in the current environment. Tucker also raised the prospect of negative interest rates at the hearing." Continue reading →

Continue ReadingBank of England’s Tucker Says He’s Open to QE as BOE Stresses Flexibility

ECB Should Join ‘Currency War’ to Weaken Euro, France’s Montebourg Says

"The European Central Bank should weaken the euro, confronting the new 'currency war' head on to help address economic stagnation in the region, French Industry Minister Arnaud Montebourg said today. Calling for a more activist and 'political' management of the currency shared by 17 European nations, Montebourg said at a press conference in Paris that he wants 'the European Central Bank to do its job.' 'The euro is too strong and doesn’t correspond to economic fundamentals,' he said. The ECB 'should prepare to confront a new currency war in which the weakening of currencies becomes a political tool.'" Continue reading →

Continue ReadingECB Should Join ‘Currency War’ to Weaken Euro, France’s Montebourg Says

Doug Casey on G20 Economic Suicide

"The result is that you don't just get one currency devaluing, but all currencies devaluing against real assets, commodities, goods, and services. I do believe that within the foreseeable future all these paper currencies are going to be devalued to zero – in other words, they will reach their actual intrinsic values. This is extremely serious, because the productive people of the world – the ones who actually consume less than they produce and save the difference, which is what all economic growth and progress depends upon – will be wiped out. When their savings vanish, it's going to create a social and political earthquake right off the Richter scale." Continue reading →

Continue ReadingDoug Casey on G20 Economic Suicide

Australian Gov Now to Seize People’s Live Bank Accts – If ‘Inactive’

"The government will from May 31 be able to transfer all money from accounts that have not been used for three years into their own revenues. Households face losing up to $109 million from their family savings as the Federal government moves to seize cash from inactive bank accounts. After legislation was rushed through parliament, the government will from May 31 be able to transfer all money from accounts that have not been used for three years into their own revenues ... The law is forecast to raise $109 million this year as inactive accounts for three years or more are raided by Treasury. The money can be reclaimed from ASIC but the process can take months." Continue reading →

Continue ReadingAustralian Gov Now to Seize People’s Live Bank Accts – If ‘Inactive’

People Needed in Lansing!

Today, the House advanced the Federal Level One Grant Appropriations bill HB 4111 for the implementation of the Obama Care Health Care Exchange to a third reading. It WILL be voted on tomorrow! WE NEED PEOPLE TO COME TO LANSING TOMORROW FOR THE HOUSE SESSION   The House session starts at high noon tomorrow at …

Continue reading »

Continue ReadingPeople Needed in Lansing!

>>TODAY EXTREME URGENT

>>>>>>>>>BREAKING!<<<<<<<<<<   Despite your wishes, today the House Appropriations Committee *voted to pass out theLevel One Federal Grant to set up an Obama Care Health Care Exchange in Michigan!  EVERYONE NEEDS TO BE ON BOARD HERE!   I called the House Floor Majority leader and the bill HB 4111 IS on the House agenda for …

Continue reading »

Continue Reading>>TODAY EXTREME URGENT