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Davide Oneglia
@DavideOneglia
, 3 tweets, 3 min read Read on Twitter
Where's the Italian #austerity so many people rant on about?? So much for #Conte's nonsense about #Italy's politics being "enslaved by finance"??

Spesa corrente al netto degli interessi *in livelli* non scende mai!
Il grafico in %PIL l'ho messo solo per ridere piu' forte 1/2
Questa invece è la crescita cumulata dei principali componenti della spesa corrente del governo centrale al netto degli interessi... Mannaggia! ma tutto questo #neoliberismo non ci farà mica male?!
cc: @Phastidio @micheleboldrin @CarloStagnaro @FabioGhironi @gianlucac1 @ThManfredi @FPanunzi
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#austerity #Conte #Italy #neoliberismo

More from @DavideOneglia see all

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Davide Oneglia
@DavideOneglia
This (quite long) thread is #my2cents on the output gap campaign #CANOO started by @RobinBrooksIIF and supported, among many others, by @alan_tooze and @MESandbu . Pls read it till the end. I don't want to be polemic. I'm just looking for answers (1/x)

In EU this is a vital *political* debate. Given the well-known output gap measurement issues especially in real-time, references to 'cyclically-adjusted' fiscal balances in budgetary rules at EU level and in member states are a serious problem (2/x)
I sympathise with the claim that the Eurozone would benefit greatly from fiscal expansion both in aggregate and in specific countries, primarily Germany. Anaemic domestic demand and limited ECB policy ammunitions call for a fiscal response (3/x)
Read 20 tweets

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Fabio Sabatini
@FabbioSabatini
Ci risiamo: @luigidimaio dice che la procedura d'infrazione è colpa del debito accumulato dal Pd.

Vediamo perché non è vero.

(thread lungo e inadatto ai social, per persone pazienti che vogliono sapere come si è avvitato il debito, e chi ne porta la responsabilità).

[1/17]
L'accumulazione via via più incontrollata del debito inizia nel 1974, con un debito al 54,5% del Pil e si chiude nel 1994 con un rapporto debito/Pil al 124,3%. Dal 1995 l'Italia prova a riassorbire il debito accumulato in quei 20 anni.
[2/17]
Con significativi sforzi chiude in attivo, al netto degli interessi, 22 bilanci pubblici su 23 tra il 1995 e il 2017. Ma non basta.

Ma come siamo arrivati al 124,3% del 1994? Facciamo un passo indietro:
[3/17]
Read 18 tweets
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Fabio Sabatini
@FabbioSabatini
Vedo commenti confusi dei sovranisti sulle cause dell'avvitamento del nostro debito pubblico. Urge ripasso.
1) L'accumulazione via via più incontrollata del debito inizia nel 1974, con un debito al 54,5% del Pil e si chiude nel 1994 con un rapporto debito/Pil al 124,3% [1/13]
2) Dal 1995 l'Italia prova a riassorbire il debito accumulato in quei vent'anni. Con significativi sforzi chiude in attivo, al netto degli interessi, 22 bilanci pubblici su 23 tra il 1995 e il 2017. Ma non basta.
[2/13]
3) Ma come siamo arrivati al 124,3% del 1994? Facciamo un passo indietro: nel 1975 governo e Banca d’Italia concordano che la Banca centrale debba garantire il successo delle aste dei titoli di Stato, stampando moneta per comprare le obbligazioni rimaste invendute.
[3/13]
Read 14 tweets
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Kevin Bass, MS
@kevinnbass
Much of the low-carbohydrate diet movement is fraud. A thread. 1/n
The purpose of this thread is not to show that low-carbohydrate diets do not work. Low-carbohydrate diets do work for many people. 2/n
The anti-inflammatory properties of the ketogenic diet are interesting and potentially important, as are the brain effects. We need more research on these, and we should use ketogenic diets when they can be useful. 3/n
Read 149 tweets
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Paranoid Bull
@paranoidbull
Let’s review:
With S&P 500 at $2670 we are near the lows of October and near the beginning of the sell off in December.
The S&P has rallied about 14% off the bottom on 12/26 which was about 3 week ago.
2018 began with global indices peaking in January as part of the longest “bull market” in History, driven by the greatest Monetary Experiment in History.
$21T in QE and nearly a decade of zero interest rates succeeded in bidding markets all around the World for a very long time.
But beginning in January last year, Global Markets began to Unwind, or Reset, to more Normal levels, following the beginning of QT, or balance sheet reductions by Central Banks around the world.

2018 was the beginning of The Global Reset.
Read 39 tweets
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Johannes Bückler
@JohannesBuckler
Dove eravamo rimasti? Al Governo De Mita. Che nella prima settimana aveva indicato in "meno spese" il suo obiettivo principale. Non ci sarà nessuna stangata, disse. Però servivano 7.000 miliardi di lire.
Amato lo prese subito sul serio presentando il 25 maggio 1988 il suo piano quadriennale che prevedeva un saldo positivo tra entrate e spese (al netto degli interessi) nel 1992. Varò così la sua prima manovra che verteva su tre punti.
Un generale aumento degli acconti da pagare (Irpef, Irpeg e Ilor) dal 92% al 98% e dal 92% al 95%. Un anticipo dei pagamenti Iva per chi aveva un volume d'affari superiore a 480 milioni anticipandolo al 22 del mese precedente (con annessa sfera di cristallo)
Read 12 tweets
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Antonello Guerrera
@antoguerrera
Hello all. Sorry for the late hour, but I wanted to give you just some quick updates on #Italy’s political deadlock. As I had hinted here in the past, despite many discarded it in the 1st place, a sort of “populist” collaboration between LEGA and M5S is more likely
I tell you why
1. Today LEGA leader Salvini and M5S leader Di Maio had a phone call. It is the 1st actual, concrete contact between the two after #Italyelection2018, after pretending to ignore each other. It was “a frank and kind call”, they said. But what did they discuss on the phone?
2. Well, according to official statements, they primarily discussed the question of the two Parliaments speakers (House of reps + Senate, it is the first stel after elections), stressing the fact that the matter is “unrelated” to the formation of a potential government
#Italy
Read 23 tweets

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