MMT Falsi Miti 1

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MMT Falsi Miti 1

  1. 1. Attualità e leggendeParte II
  2. 2. I Paesi “virtuosi”Il principio secondo cui uno Stato deve risparmiare per poterspendere in futuro, principio divenuto legge con i trattati stipulati,inizia a scricchiolare.A (parziale) smentita di questa famiglia di principi di “salute dellafinanza pubblica” universalmente riconosciuti, passiamo in rassegna irapporti deficit/PIL dei principali paesi europei.
  3. 3. I “PAESI VIRTUOSI” IN RELAZIONEALLENTRATA NELLEURO.
  4. 4. Current Account 1996 4.0% 3.0% 2.0% 1.0%Percent of GDP 0.0% -1.0% -2.0% -3.0% -4.0% Portugal Italy Ireland Greece Spain Germany France
  5. 5. Current Account 1997 4.0% 2.0% 0.0%Percent of GDP -2.0% -4.0% -6.0% -8.0% Portugal Italy Ireland Greece Spain Germany France
  6. 6. Current Account 1998 4.0% 2.0% 0.0%Percent of GDP -2.0% -4.0% -6.0% -8.0% Portugal Italy Ireland Greece Spain Germany France
  7. 7. Current Account 1999 4.0% 2.0% 0.0% -2.0%Percent of GDP -4.0% -6.0% -8.0% -10.0% Portugal Italy Ireland Greece Spain Germany France
  8. 8. Current Account 2000 4.0% 2.0% 0.0% -2.0%Percent of GDP -4.0% -6.0% -8.0% -10.0% -12.0% Portugal Italy Ireland Greece Spain Germany France
  9. 9. Current Account 2001 4.0% 2.0% 0.0% -2.0%Percent of GDP -4.0% -6.0% -8.0% -10.0% -12.0% Portugal Italy Ireland Greece Spain Germany France
  10. 10. Current Account 2002 4.0% 2.0% 0.0% -2.0%Percent of GDP -4.0% -6.0% -8.0% -10.0% Portugal Italy Ireland Greece Spain Germany France
  11. 11. Current Account 2003 3.0% 2.0% 1.0% 0.0% -1.0%Percent of GDP -2.0% -3.0% -4.0% -5.0% -6.0% -7.0% Portugal Italy Ireland Greece Spain Germany France
  12. 12. Current Account 2004 6.0% 4.0% 2.0% 0.0%Percent of GDP -2.0% -4.0% -6.0% -8.0% -10.0% Portugal Italy Ireland Greece Spain Germany France
  13. 13. Current Account 2005 6.0% 4.0% 2.0% 0.0% -2.0%Percent of GDP -4.0% -6.0% -8.0% -10.0% -12.0% Portugal Italy Ireland Greece Spain Germany France
  14. 14. Current Account 2006 10.0% 5.0% 0.0%Percent of GDP -5.0% -10.0% -15.0% Portugal Italy Ireland Greece Spain Germany France
  15. 15. Current Account 2007 10.0% 5.0% 0.0%Percent of GDP -5.0% -10.0% -15.0% -20.0% Portugal Italy Ireland Greece Spain Germany France
  16. 16. Current Account 2008 10.0% 5.0% 0.0%Percent of GDP -5.0% -10.0% -15.0% -20.0% Portugal Italy Ireland Greece Spain Germany France
  17. 17. Current Account 2009 6.0% 4.0% 2.0% 0.0% -2.0%Percent of GDP -4.0% -6.0% -8.0% -10.0% -12.0% -14.0% Portugal Italy Ireland Greece Spain Germany France
  18. 18. Current Account 2010 8.0% 6.0% 4.0% 2.0% 0.0%Percent of GDP -2.0% -4.0% -6.0% -8.0% -10.0% -12.0% Portugal Italy Ireland Greece Spain Germany France
  19. 19. Current Account 2011 8.0% 6.0% 4.0% 2.0% 0.0%Percent of GDP -2.0% -4.0% -6.0% -8.0% -10.0% -12.0% Portugal Italy Ireland Greece Spain Germany France
  20. 20. Il debito pubblico italianoSfatiamo qualche mito circa il debito pubblico italiano, di cui sentiamoparlare ogni giorno.
  21. 21. Il debito pubblico italianoNel periodo della “spesa allegra”, come viene chiamata oggi, lo Statocreava ricchezza al netto per i cittadini, creando direttamente edindirettamente lavoro.Questo circolo virtuoso aveva molte conseguenze nelleconomiaitaliana: negli anni 80 la Sip era la prima società di telecomunicazioni almondo. Primato nellinnovazione tecnologica e nella coperturacapillare del territorio; laccesso al credito per le aziende ed i privati era abbastanzasemplice e, di fatto, garantito per legge; i treni arrivavano sempre in orario e le strade di sera erano sicure.
  22. 22. Le “confessioni” di Greenspan- Are US treasury bonds still safe to invest in?- Very much so. I think this is not an issue of credit rating. The UnitedStates can pay any debt it has because we can always print money todo that, so theres a zero probability to default.

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