"Italy’s borrowing costs soar"~~~Berlusconi to appeal for...“sacrifices.”

[WinkyDink]

“We are in the front line of this battle,” Mr Berlusconi said, describing a crisis that threatened all of Europe and the future of its common currency.

The Italian prime minister’s appeal – the most sombre in his three years in charge of his centre-right government – was intended to rebut widespread criticism in the Italian media and the markets that his coalition was rudderless and divided by disputes between him and Giulio Tremonti, finance minister.

“We have to eliminate any doubts over the efficacy and credibility of our budget,” Mr Berlusconi said....
http://www.ft.com/intl/cms/s/0/487bc3a0-ac67-11e0-bac9-00144feabdc0.html#axzz1Ryho04eU
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

This fat bas***d, with his decadent sex parties with minors, needs to be given the Mussolini Treatment for the gall of asking his fellow citizens to "sacrifice".

ANOTHER CORRUPT BILLIONAIRE MEDIA MOGUL.

http://abcnews.go.com/International/berlusconi-sex-party-pictures-revealed/story?id=13215386

http://www.timesonline.co.uk/tol/news/world/europe/article6550609.ece

http://www.telegraph.co.uk/news/worldnews/europe/italy/8272438/The-Caligulan-court-of-Silvio-Berlusconi-laid-bare.html

[annabanana]

1. Everybody paying down those credit cards?

I think it's going to get more expensive soon.

[indurancevile]

2. Why does everyone in the world have to sacrifice? Where's all the money going?

[Tallulah]

3. Sacrifice

Steady with the sacrifice. I don't see one politician anywhere in the world scarificing a damn thing.

[gratuitous]

4. Don't you have a heart at all?

You expect the Big Money Boyz to take a hit because of their reckless lending and investment practices? How can you be so cruel? We all need to sacrifice so that the financial sector doesn't suffer the normal and natural consequences of their profligate ways. It's called the free market, bub.

Oh, and welcome to DU. Get used to snark like this.

[WatsonT]

6. "Where's all the money going?" Compound interest

it's a bitch.

[indurancevile]

7. I mean with every country in the world being told there must be sacrifice, who's getting all the

money?

It doesn't seem to be a case where certain countries are the debtors, and others the creditors, as in the previous century. Seems like citizens in all countries are being told they need to sacrifice. So who's getting the money? Seems more obviously a class-war-type scenario than in the past.

[WatsonT]

9. A good chunk to china

[indurancevile]

10. China's in debt too, & imposing its own 'austerity' programming on the citizenry.

http://www.businessinsider.com/actually-chinese-debt-to-gdp-is-enormous-and-regional-governments-needs-the-real-estate-bubble-stay-solvent-2010-2

http://www.huffingtonpost.com/2011/07/05/chinese-debt-local-moodys-estimat_n_890110.html

http://www.chinadaily.com.cn/opinion/2009-11/06/content_8922665.htm

The money goes round & round -- in whose lap does it eventually rest? I don't think 'china's' is the right answer.

[WatsonT]

11. "I don't think 'china's' is the right answer."

Possibly.

Really it's a crap-shoot right now. Who knows how it will end? And looking at who has the most dollars/pounds/euros/yuan/etc doesn't predict much at the moment as inflation is about to rear it's ugly head in a big way.

Soon much of that value is going to disappear in to the aether.

[Blue_Tires]

8. In Berlusconi's case, toward drunken orgies with teenagers on beds made of drugs...

[WatsonT]

12. Normally sound investments

[JCMach1]

5. Shock Doctrine comes to Italy

[NNN0LHI]

13. Can I ask what may seem like a silly question? Why is Berlusconi the PM and not in jail?