S&P cut Italy’s credit rating last night to A from A+, with a negative outlook, on concern that weakening economic growth and a “fragile” government mean that the nation won’t be able to reduce the euro-region’s second-largest debt burden. S&P last downgraded Italy in 2006. (Source: Bloomberg)
Carissimi amici italiani, non si puo' mangiare la torta e allo stesso tempo conservarla per il futuro - come si dice qui in America. Non si puo' spendere se non si produce la ricchezza per ripagare i debiti.
My dear Italian friends, you cannot have your cake and eat it too. You have to produce the wealth to repay the loans.
I know how you think. Like the unions at GM in the past decades. Who cares. Someone will pay the bill. Well, the time has come to pay the bill. And guess what? We do not have the money.
It is time to pay the piper. Everybody.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest
To find out more about my in depth views of the markets and my strategy just visit our website https://www.peterdag.com/ where you can subscribe to The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific investment portfolio.
Disclaimer.The content on this site is provided as general information only and should not be taken as investment advice nor is it a recommendation to buy or sell any financial instrument. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.
No comments:
Post a Comment