All’origine della crescita del debito pubblico nel nostro paese c’è il divorzio consumato negli anni Ottanta tra Banca d’Italia e governo politico dell’economia per ripristinare il comando del capitale sulla società. Un percorso di lettura http://www.ilmanifesto.it/area-abbonati/ricerca/nocache/1/manip2n1/20120929/manip2pg/10/manip2pz/329389/manip2r1/cavallaro/
In a Ponzi scheme, potential investors are wooed with promises of unusually large returns, usually attributed to the investment manager’s savvy, skill or some other secret sauce. The returns are repaid, at least for a time, out of new investors’ principal, not from profits. This can continue as long as new investors line up with cash, and old investors don’t try to withdraw too much of their money at once. Ponzi schemes are also known as pyramid schemes, from the shape of any chart that reflects their basic premise — that ever-growing layers of new recruits are needed to provide gains to the smaller, earlier cohorts. A gigantic pyramid scheme virtually bankrupted Albania after the fall of Communism. http://topics.nytimes.com/top/reference/timestopics/subjects/f/frauds_and_swindling/ponzi_schemes/index.html?inline=nyt-classifier
In his latest note, famously bearish SocGen analyst Dylan Grice goes there. Big time. The subject of the note is Weimar, hyperinflation, and all that money printing that anyone talks about.
But it’s not what you’d expect. He’s not saying Germany printed money, and that caused Weimar hyperinflation and that caused Nazis. He’s saying memories of Weimar caused Germany too adhere too much to hard money, and that caused unemployment and that lead to the Nazis. http://articles.businessinsider.com/2011-11-18/markets/30413917_1_unemployment-rate-nazis-weimar