Giovanni B. Ponzetto - 🇨🇦🇮🇱 Profile picture
Sep 10, 2020 10 tweets 7 min read Read on X
"[..]gli effetti ipotizzati presuppongono, come ricordato, l’uso efficiente delle risorse disponibili; l’esperienza suggerisce che affinché ciò avvenga serve una netta discontinuità con quanto osservato in passato." bit.ly/2RitnOZ
Grazie,@Phastidio (h/t @vitalbaa ) (1/8)
Oltre alla (abitualmente) esatta analisi di @Phastidio , mi piacerebbe aggiungere due chiodi alla bara dell'#Italia, prendendoli a prestito dai proprietari:
1. Mario #Draghi, nell'intervento a Rimini, si è messo nell'alveo dell'aristocrazia Europea parlando di una cosa:(2/8)
Ha detto che "non bisogna sprecare LE RISORSE DEL #RecoveryFund ". E quelle precedenti? buonanotte ai suonatori. #Alitalia , #CDP, #Quota100, tutti passati in cavalleria. Ma il fondo è il 3% del PIL, mentre la parte a controllo pubblico è circa 60%. Adios. (3/8)
2. la #UE interviene come non oserebbe un Montero d'antan in due modi. Uno è lo stesso di #Draghi, il passato non si tocca (Per chi non lo sappia, la #UE ha speso soldi per un rapporto che dice che Strasburgo è un doppione inutile. quel rapporto è pubblico).(4/8)
Quindi il #RecoveryFund ha una funzione secondaria di "Indulgenza plenaria": qualunque spreco pubblico sopravvissuto finora alla crisi #COVID19 , la più grave senza guerre in cento anni, è eterno. Chi pensava di comprare a poco a Strasburgo smetta.(5/8)
Ma più grave ancora, la #UE alla stregua della "New Economic Policy" di Lenin indica con chiarezza chi deve vincere, senza una caratteristica determinante del progetto di Lenin: là il mercato decideva i vincitori, qua li decide Brussells(6/8)
Ora, ammettiamo che il #GreenNewDeal , perno del progetto, sia efficace a stoppare il riscaldamento globale, al 100% : cosa fa ai costi di produzione nei prossimi cinque anni? li aumenta o li diminuisce? (7/8)
Finchè non si troverà l'onestà intellettuale di dirsi che i progetti europei DIMINUISCONO la produttività, e quindi la crescita economica dovrà arrivare da qualche altra parte, non fatevi illusioni: debito e tassazione cresceranno ancora. (end)
@liberioltre @LorenaLVilla
Mi sovvengo solo adesso che ho usato "abitualmente" in modo errato: intendevo significare "come sempre".

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More from @gbponz

Jan 5
Germany’s net-zero bills never shrink and the promised boom in green industries and jobs never materializes. via @WSJopinion There's a rookie mistake in the article.(/) @degiorgiod @MeredithAngwin @MarcoCantamessa @petunianelsole @moutetwsj.com/articles/germa…
"[...]plugging the hole will require either higher electricity rates or more taxpayer subsidies."
No, they are not different things: they are DESIGNED to look like different things, and one is meant to be harsher.(/)
If the whole "let's add an elaborate #Wind and #Solar scheme over the existing grid to emit less during the hours those actually produce electricity" was entirely falling on general taxation, those costs would distort the economy by lowering productivity and general demand.(/)
Read 8 tweets
Oct 22, 2023
If our hapless western politicians weren't well, hapless, they'd know that THIS is the time to "Show the Israeli flag on buildings". And not for Jews.(/)
@GemmaTognini @AlessandroPonz4 @AndreaVenanzoni @Curini @michaeltanchum @ardigiorgio @BaldingsWorld @moutet @GrayConnolly
Because by not making it abundantly clear that in free country you can express your views, collectively as well, but every citizen is responsible for its opinions and pays for their consequences, and ABOVE ALL there is the same fair treatment for all, (/)
/ governments are destroying both the moral base of our society AND our social contract. Think of it this way:
You are a lower middle class father of two married in church. You join the Truckers in Canada 🇨🇦.
Police in riot gear shot rubber bullets point blank at you.(/)
Read 11 tweets
Oct 14, 2023
Since the pro-palestinian framing on main stream media has started in earnest (I am watching a press program now here in #Italy), allow me to give you a vaccine dose. At all times, ask yourself:
1. Is (insert bigwig here) asking for hostage release by Hamas as a precondition?(/)
2. In your opinion, what keeps Hamas from releasing them on their own accord, considering that their official position is that atrocities were tag alongs not at their order?
(/)
3. Why is that no whistleblowing on hostage position is going on by Gaza civilians whose houses are under threat? Israel is affer all composed by a sizeable muslim population, who hold passports, vote. They'd happily give one for those lives.(/)
Read 6 tweets
Mar 12, 2023
Richard...sorry but I disagree on that. Deposit insurance is the most worthy and LESS costly of banking supervisory features, but it needs to have a maximum, and I will tell you why. (/) @INArteCarloDoss @Banqkys @MarketElf @GrayConnolly @jeuasommenulle @AlessandroPonz4
Deposit insurance is there to avoid runs on banks, where depositors all want to cash in all at once. But the key word is "cash", i.e. the number each of us sees at the #ATM machine or on the bank site as his own cash balance. However that's not cash. (/)
I have seen grandiose public plans about financial education, and deposit insurance is an ex post measure.. non one vaccinated citizens by telling them the truth: "when you deposit cash at a bank, you are LENDING them the money (which ceases to be yours). The bank invests it."(/)
Read 14 tweets
Mar 11, 2023
Eric, we've been through a decade of easy money, finance centric solutions of 2008 which was the key to the deindustrialization of the west. Now to some extent is better and to some is worse.(/)
The better part is that goods producing companies have NEVER returned to the blind trust in the banking system they had before. Less leverage, and slamming the door in bank salesmen's faces helped. (/)
Of course there is a whole section of equities which are more financial than Casino chips, but with #Zirp and #NIRP that couldn't be helped. I am not so pessimistic about the industrial base in the #US (#Europe is a different Bedlam). (/)
Read 7 tweets
Mar 9, 2023
"you need to have a longer time horizon" roughly translates in my book in "Run for your lives !!".
For one, if you are a final saver... you rarely HAVE a time horizon, nor you need one. Incidentally that's proof of who wrote #MIFID.(/)
MIFID questionnaires have a mandatory section on time horizon. Why that measure? because while for an individual saver that concept is basically meaningless, for those meant to be KEPT from pushing unnecessary risk onto savers it's daily bread.(/)
Banks indeed have time horizons and time preferences well and truly planted into their brains since they have a teeny weeny share capital, and finance their assets through the issuance of debt. They indeed try to match maturities across assets and liabilities. (/)
Read 9 tweets

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