Move Over Greece, Italy’s Crisis Will Be Worse – 02.24.17

  • Early last month, in a column on my hopes and fears for 2017, I fretted about fiscal chaos in Italy leading to default and bailouts.
  • Simply stated, I fear that Italy, along with certain other “Club Med” nations, has passed the point of no return in terms of big government, demographic decline, and societal dependency.
  • And this means that, sooner or later, the proverbial wheels are going to fall off the bus. And it might be sooner.
  • On Shaky Ground
  • I don’t always agree with his policy recommendations, but I regularly read Desmond Lachman of the American Enterprise Institute because he is one of the best-informed people in Washington on the fiscal and economic mess in Europe.
  • And Italy, to be blunt, is in a mess.
  • Here’s what Desmond just wrote about the country’s economy.

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