About Europe and Italy.

"Italy is the next suspect..... “Taxes in Italy will be 125 billion euro higher than before the crisis (on an economy of some 1600 bn). Starting next year and the following one, public spending before interest rises from some 39% in 2000 to 46% of GDP in 2010. Then there's another large part of the economy which is formally private, but the management is chosen in Rome, ENI, ENEL, Finmeccanica and the like. All politicians of all parties have shared the idea that higher taxes are ‘necessary’. The idea of cutting spending has not emerged yet. When Italy was known as the ‘Italian Miracle back in the ’50s and ’60s, the tax burden was about 25% and the country was a locomotive.”Source: USD-EUR currency exchange rate and the Ellsberg paradox by David Kotok - emphasis added)"

The little Italian guy will pay. In any crisis the little guy pays. Is it fair? This is how power and wealth dominate. Italy cannot change. There is too much power concentrated in a few hands. They will do whatever it takes to trick Angela and Nicholas.

Good luck Europe!

More details in my The Peter Dag Portfolio , in Dag's Exclusive market Alert, and my free educational videos on http://www.peterdag.com/.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest

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