Italy "Pitchfork Protests" Continue; "LettaSpeak" Translation; **nworking Parts
 

The "pitchfork protests" in Italy have **w gone on for a week. RT reports 'Pitchfork' protesters clash with police in week of anti-austerity rallies

Protesters in several Italian cities have clashed with police amid anti-austerity protests which have lasted for almost one week. The so-called ?Pitchfork? protesters are marching against cuts and calling for the government to resign.

Demonstrators hit Rome, Venice, and Turin on Saturday. Students threw paint bombs at police in Turin, which has been the epicenter of the protests. The city has seen the largest number of clashes with law enforcement, with ******rs using tear gas to disperse demonstrators who hurled stones.

Turin protesters also blocked rail traffic and stopped trains at the city?s main stations. Truckers - protesting high taxes and fuel prices - and students brought traffic to a virtual standstill earlier this week. Activists pitched tents on a bridge across a river bordering France, near the town of Ventimiglia, forcing police to step in. City authorities ordered reinforcement from security forces.

Activists have promised larger demonstrations in the capital next week. The protests are being staged in the name of the Forconi ? or Pitchfork ? movement, which was originally organized by a group of Sicilian farmers.

"There are millions of us and we are growing by the hour. This government has to go," Reuters quoted one of the leaders of the protests, Danilo Calvani, as saying earlier this week.

As demonstrators blame the two-year recession on politicians, they are demanding that the government be replaced and parliament be dissolved.

Fourteen policemen have been injured over the past several days. Many shops and other properties have been damaged.

On Thursday, Interior Minister Angeli** Alfa** voiced concerns that the unrest could "lead to a spiral of rebellion against national and European institutions." He told lawmakers that although the government understood "the suffering of poor people," it would **t allow the violence to continue.

Alfa** said that the government has tried to talk with the protesters, but has thus far failed because there are many different groups and ** clear leaders.

Protest Images

RT has four excellent images of the protests. Here are a couple of them.

http://4.bp.blogspot.com/-T9WZ0W9JqP...forks+RT+1.png

http://3.bp.blogspot.com/-iEZo8XHeSk...forks+RT+2.png

Italy's "Pitchfork Protests" Spread to Rome; Interior Minister Warns of "Drift Into Rebellion"

Last Thursday I reported Italy's "Pitchfork Protests" Spread to Rome; Interior Minister Warns of "Drift Into Rebellion".

"LettaSpeak" Translation

In response to my article, reader George offered comments on this paragraph from my article: "Letta has warned repeatedly that opposition to the government and the EU is growing strongly, fuelled by sacrifices needed to keep public finances in order and which could result in a massive anti-EU vote in next year's European parliamentary elections."

George says "Hello Mish. The sacrifices Letta refers to are **thing more than taxes paid to an oligarchic government, so the government can pay interest to private bankers, on money the bankers had lent to the government, money that the bankers worked so hard on their computers to create."

**nworking Parts

That's part of it. Some of the taxes go to support public unions, and the rest goes to government bureaucrats doing everything they can to **t only pad their own pockets but also to stay in power.

I leave it to the reader to assign percentages to each of the "**nworking" parts. The percentage of working parts is small and can safely be ig**red in assignment of where tax money goes.

And please **te the irony. The "pitchfork" movement is up in arms because government is **t handing out e**ugh jobs, giving away e**ugh free money, and giving away e**ugh free services.

Here's the "real" pitchfork beef: Most of them are upset because they're **t in on the scam.

That leads to the next question: How much would it cost to do what the movement wants, and where would the money come from?

As bad as all this is, the Euro made matters far worse. It can't and won't last.

Eventually, there will come a time when a populist ******-seeker will stand before the voters, hold up a copy of the EU treaty and (correctly) declare all the "bail out" debt foisted on their country to be null and void. That person will be elected.

Mike "Mish" Shedlock
http://globaleco**micanalysis.blogspot.com Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.


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