The Morning Soup Kitchen Line in Milan


Posted originally on Dec 10, 2023 By Martin Armstrong 

Meloni Responds to Migrant Crisis


Armstrong Economics Blog/International News Re-Posted Sep 19, 2023 by Martin Armstrong

Italian PM Giorgia Meloni announced that Italy will begin cracking down on illegal immigration in the wake of the Lampedusa invasion. The small fishing island of Lampedusa in Sicily has seen its population double this month after countless African migrants arrived on shore. Meloni promised a tough stance on migration during her campaign yet illegal immigration to Italy has doubled in the past year. EU Commission President Ursula von der Leyen went to Sicily with Meloni to discuss the situation.

To curtail the flow of refugees, the Italian government will not detain illegal migrants for up to 18 months. “We will decide who comes to the European Union, and under what circumstances. Not the smugglers,” Von der Leyen said. The EU under former German Chancellor Angela Merkel opened up the floodgates of refugees many years ago when claiming Europe was a safe haven for asylum seekers. People from throughout the second and third world have since found their way to Europe. Other EU nations are looking at the situation in Italy and realizing their borders will be next.

French interior minister Gerald Darmanin said that it is France’s responsibility to “help our Italian friends.” It is also their responsibility to let those wishing to illegally enter Europe that they are not welcome. ‘’Our will is to fully welcome those who should be welcomed, but we should absolutely send back those who have no reason to be in Europe,” he said, noting that there was no particular reason for these people to claim political asylum.

I mentioned that these migrants are primarily military-aged men traveling alone. They are using an old military strategy where they dock their boats in rapid succession to overwhelm the Italian coastguard. There is more to this situation and a reason that the first world is being bombarded with migrants. The Italian Navy may be deployed to guard the waters with North Africa if the crisis worsens. “It does not make sense to trust traffickers, because they will take a lot of money, put you on a boat that is unfit for the journey and once you get here you will be detained and sent back,” Meloni pleaded.

Sunday Talks – Italian Prime Minister Georgia Meloni Discusses EU Challenges, Chinese Influence, G7 Obligations, Ukraine and Vision for Africa


Posted originally on the CTH on July 31, 2023 | Sundance 

Italian Prime Minister Georgia Meloni sounds slightly less nationalist and slightly more globalist in this interview as she discusses the current challenges for Italy within the European Union.  With a large focus on the African continent, mostly driven by root cause illegal immigration, Prime Minister Meloni outlines how supporting the African economic needs are a pragmatic solution to the outflow of migrants. {Direct Rumble Link} – WATCH:

National Day of Mourning for Silvio Berlusconi


Armstrong Economics Blog/Politics Re-Posted Jun 14, 2023 by Martin Armstrong

Italy declared a national day of mourning this Wednesday to honor former Prime Minister Silvio Berlusconi, who passed at the age of 86 on Monday. Despite his controversial life, world leaders have offered messages of condolences to his family and the Italian people.

Few of those offering condolences were true friends. The European Union even attempted to stage a coup against Berlusconi to replace him with Goldman Sach’s Mario Monti in 2011 after interest rates on Italian government bonds peaked to record highs. The ECB pumped in massive amounts of money to fund the Italian banks who were now able to buy Italian government bonds. This calls into question the attack upon Berlusconi and the Italian high court upholding his sentence to prison for in tax fraud case.

He was compared to the likes of Donald Trump, constantly under attack for his outspoken views in both politics and his personal life. During his final years, Silvio urged the West to stop fanning the flames of war in Ukraine. He was criticized for having a friendship with Vladimir Putin. He also said in a leaked recording that Russian ministers believe they are at war with the West because of the funding to Ukraine. “For me, Silvio was a dear person, a true friend. I have always sincerely admired his wisdom, his ability to make balanced, far-sighted decisions even in the most difficult situations,” Putin said upon Silvio’s death.

His enemies now offer support. European Commission President Ursula von der Leyen stated, “”He led Italy in a time of political transition and since then continued to shape his beloved country. I extend my condolences to his family and the Italian people.” Mario Draghi now calls him “an absolute protagonist of the Italian public life for the past 50 years.” Even rival leader of the Democratic Party, Elly Sclein, offered support, “”With the death of Silvio Berlusconi an era comes to an end. Everything has divided us and divides us from his political vision, but the respect that is humanly due to one who was a protagonist in the history of our country remains. The deepest condolences on behalf of the Democratic Party.”

As with Trump, he became more popular among his base after overcoming scandals. Love or hate him, the people generally agree that Berlusconi loved his nation.

Pasta Prices Soar 20% in Italy – The Return of the Pasta Cartel?


Armstrong Economics Blog/Inflation Re-Posted May 16, 2023 by Martin Armstrong

(image above represents shrinkflation — an additional burden to consumers)

Italy’s Industry Minister Adolfo Urso called for an emergency meeting to discuss the sharp uptick in food prices. Pasta alone is up nearly 20%, and this is a major problem in a country where 60% of residents report eating this item daily. Some provinces are seeing a 58% increase in this staple item. Siena, Tuscany, reported pasta rising from $1.50 a kilo to $2.37 a kilo within in a year. The European Central Bank stated that inflation reached 8.1% in March, so what is driving these food prices?

Some may point to wheat, the main ingredient, as the recent usurping of farmland and the Ukraine war had an impact on prices. However, wheat prices have actually declined in recent months. Durum wheat is down 30% since May of last year. The only other ingredient required to make pasta is water.

Coldiretti, Italy’s biggest farmers association, said that farmers are not seeing an uptick in revenue and are struggling to make ends meet. “There is no justification for the increases other than pure speculation on the part of the large food groups who also want to supplement their budgets with extra profits,” Assoutenti president Furio Truzzi told the Washington Post. Yet, food manufacturers are claiming that this spike in pasta costs in temporary and a result of pasta produced during the beginning of the Ukraine war and energy crisis.

This is not the first time that Italy has seen a rise in food prices. Italian authorities raised 26 pasta manufacturers in 2009 and fined the industry 12.5 million euros for creating what Reuters described as a “pasta cartel.” Around 90% of pasta makers in the country were in on the price gouging scheme that operated from May 2006 until May 2008, during which pasta prices rose 51.8% for retailers and 26% for consumers. Barilla, the largest pasta producer at the time, received the largest fine of 5.7 million euros.

Food inflation is a major problem across the world. In Italy, overall food prices rose 12.6% in April 2023, marking a slight decline from March’s 13.2% reading. This is unsustainably high. The overall inflation numbers put forth by government agencies are always the best-case scenario as they do not want us to see the true damage of inflation.

Meloni Set to Abolish Italy’s Welfare State


Armstrong Economics Blog/Italy Re-Posted Nov 25, 2022 by Martin Armstrong

Italy’s new PM Giorgia Meloni revealed her first economic initiatives with a budget of 21 billion euros. The Italian government will no longer provide free handouts to those who simply refuse to work. This should not be controversial.

For starters, anyone eligible for welfare must actually reside in Italy. Those capable of working will have eight months to find employment before their free paycheck runs out. Alternatively, if someone refuses a job, they will be excluded from receiving welfare. The 5-Star’s citizens’ wage will be abolished by next year as the system has been abused by many who simply do not want to work. They are reviewing the pension system as well, but it’s too late to save the pension funds.

Italy’s first female PM is also encouraging couples to start families amid a birth rate crisis. Women may take a sixth month of maternity leave and still receive 80% of their salary. Meloni cut taxes on goods for newborns and feminine hygiene. Couples will receive a 50% increase in the “baby bonus,” and families with over three children will receive more incentives. Italy needs future taxpayers.

Everyone cheered when America appointed its first female vice president, but Kamala Harris has done nothing for women who still pay the pink tax and do not have access to maternity leave. It is astonishing how controversial this move has become with the papers calling Meloni a Fascist dictator for preventing working taxpayers from paying for those unemployed by choice.

Berlusconi and Putin


Armstrong Economics Blog/Italy Re-Posted Oct 24, 2022 by Martin Armstrong

Former Italian Prime Minister Silvio Berlusconi has close ties to Vladimir Putin. Berlusconi, leader of the Forza Italia party, now serves as a junior partner under new PM Giorgia Meloni. Meloni fiercely supports Ukraine, but leaked audio indicates where Berlusconi stands.

“I can’t personally give my opinion because if it is told to the press it will turn out to be a disaster, but I am very, very, very worried. I rekindled relations with President Putin, a little bit. I knew him as a peaceful and sensible person,” the former PM said in a leaked audio recording. He also said in the recording that Russian ministers believe they are at war with the West because of the funding to Ukraine.

How close are the two men? Well, Berlusconi sent Putin a duvet cover depicting a picture of them together as a gift for Putin’s 65th birthday. Putin recently sent Berlusconi numerous bottles of vodka for his 86th birthday, sparking outrage from European leaders. Before Meloni was elected, Berlusconi appeared on TV (see video above) and said that Russia had been “pushed” to invade Ukraine and that the goal was to replace Zelensky’s government with “decent people.”

Now Meloni is doubling down on her support for Ukraine and threatening to remove Berlusconi. “Whoever isn’t in agreement with this cornerstone, will not be able to be part of the government, even if it means no government,” she said.

While the people do not take Berlusconi very seriously, no one wants war. There is civil unrest throughout the Western world taking place as the people see the inevitable outcome. Our computer indicates that civil unrest will spike massively going into 2023. For now, anyone showing sympathy toward Moscow will be shunned. That may change as people grow to resent Zelensky for pushing their country into war.

Matteo Renzi Defends Rival Giorgia Meloni


Armstrong Economics Blog/Italy Re-Posted Sep 30, 2022 by Martin Armstrong

The media is clearly in the wrong when politicians from the other end of the spectrum are coming out to condemn fake news. Former Italian PM Matteo Renzi (2014 to 2016) is putting his political views aside and defending newly-appointed PM Giorgia Meloni. Countless articles have compared her to Benito Mussolini, claiming she would bring fascism back to Italy. Renzi said that this is fake news.

Renzi took to CNN, a platform that immediately compared Meloni to the deceased fascist dictator, and defended her character. Renzi admitted that Meloni is his rival and that they will continue to fight in the political realm. “There is not a danger for Italian democracy,” Renzi said on CNN. “She’s my rival, I’m her rival, we will continue to fight each other, but the idea now that there is a risk of fascism in Italy is absolutely fake news.”

Renzi said that Italy has not changed its position on Russia and that NATO should not worry about any problems from Italy. Does the media recall what the Italians did to Mussolini in the end? They hung him and his mistress in the streets and brutalized their corpses. Italians certainly do not want a repeat of Mussolini’s fascist reign, nor do they want to give the government more control. They also do not want to give the EU control or abandon Italian culture for a melting pot of European values set forth by Brussels. Renzi is more in favor of the EU than Meloni but admits she is a sovereigntist, which is precisely why she is the new prime minister.