Quote:
Originally Posted by brandrea
Interesting information. On the other end of the spectrum there’s Italy... is the economy struggling there? We just came back from vacation there and things looked vibrant from an outsiders perspective...
|
Quote:
Originally Posted by omx5o
I might be wrong but the national debt there is 143% of GDP. I guess if you borrow enough money you can party like there's no tomorrow.
|
Italian economy is not good and has not been good since the financial crisis. I think people in the north are doing well mostly on an individual basis. Haven't followed closely lately but they still have a lot of cleaning up to do (and unpopular decisions to take) in their banks that have debt overhang.
Speaking of debt, it's a worldwide phenomenon and even if central banks don't see inflation in their measurements we certainly have it in the luxury segment.