Actuality | National Economy

Minister Savona: short course in Economic Policy
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Image results for Savona and PadoanMinister Savona intervenes in response to former minister Padoan: short course in Economic Policy

We report Minister Savona's response to Padoan and to those who contested his words regarding the powers of the ECB. The Minister's concept appears clear : the only possible exit from the contradictions of the euro is through growth in ALL European countries, to be achieved through an expansion of the powers of the European Central Bank which should act officially as...
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Actuality | libraries Reports

Because the economy must correspond to morality
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Of Giovanni Tortelli

The purpose of the recent essay The empty cradle of civilization – At the origin of the crisis (Gondolin, Verona 2018, with preface by Matteo Salvini) of which they are authors, the current minister for the family Lorenzo Fontana and the economist Ettore Gotti Tedeschi, it is the demonstration of the direct connection between increase in birth rate, protection and encouragement of family formation and economic development, so that the economy can find itself in demographic growth and in the family «the investment of investments», as Fontana defines it in the introduction.
Objective not easy to achieve, given that the "bad masters" of the globalized economy who have followed one another in Malthus's chair have always believed that the equation according to which the gross domestic product of a country grows as the population decreases is true: when the population grows too much, individuals of the same species compete with each other for the exploitation of available resources: hence the presumed need for control (or inhibition) of births.
According to the Authors, nothing could be more wrong; in fact, it is enough to look at the results of the Brics countries (Brazil, Russia, India, China, South Africa) who by increasing the population have become rich, while the West, diminuendola, he became impoverished.
But why - the inexperienced reader may ask - is it really necessary to restore this relationship of direct proportion between population increase and economic growth? Because – replies Gotti Tedeschi – it is the increase in the birth rate that causes the formation of the family and the family produces wealth, indeed it is the first aggregate of society that produces wealth. Read More

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Monsters council | Non-fiction

Useless and empty Vatican document on Finance
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Image results for Vatican document on Finance

Of Andrea Cavalleri
The Congregation for the Doctrine of the Faith and the Dicastery for Promoting Integral Human Development, il 17.05.2018 They have published a document entitled "Economic and financial issues".
The approach to the problem is conducted in the form of "Considerations for ethical discernment", that is, a hybrid form, which is not a clear pronouncement but only a vague exhortation (but then there was the need to bother the Congregation for the Doctrine of the Faith?) in line with the wavering style of all the latest writings coming from the Vatican.
The topic of the impact of finance on today's world was a must and the authors of the paper must be acknowledged for having correctly raised the current and real issues. Read More

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Actuality | World Economy

Draghi: sulla fine del QE "non è detta l'ultima parola"
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Mario DraghiReporting of Wall Street Italia
Of Alessandra Caparello
Inflation is on the right track but “there is still a need for significant accommodative measures”. Go back to talking about Quantitative easing the number one of the European Central Bank Mario Draghi during his speech at the Sintra Economic Forum in Portugal where his colleagues from the Fed and the Bank of Japan, respectively Jerome Powell and Haruhiko Kuroda.
For Draghi thelast word regarding the end of Qe.

"In the 2017 Eurozone growth was higher than we had expected: growth on annual basis recorded in the fourth quarter was the strongest in a decade. But in the 2018 growth has slowed and, until now, it was lower than our expectations (…) Regarding the ECB's monetary policy, as indicated last week the progress made so far towards a sustained adjustment in inflation has been substantial. The expected end of our net asset purchases in December this year is subject to new macro data confirming the medium-term outlook for inflationinflation. Furthermore, the asset purchase program can always be used if contingent events arise that we cannot see at the moment.".

Draghi underlined how confidence in the return of inflation towards the long-term objective has strengthened significantly over the last few months., but uncertainty permeates theeconomic outlook.

“With long-term inflation expectations well anchored, the underlying strength ofEuropean economy and the continued large degree of monetary accommodation allow us to be confident that inflation will converge towards our objective and that this convergence can be maintained even after a gradual winding down of our program of net asset purchases.".

Therefore, says Draghi, the "monetary policy in the Eurozone must remain patient, persistent and prudent”. Read More

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