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Italian Elections: The Great Five-Star Surprise 

Italian Elections: The Great Five-Star Surprise 

Nearly definitive results of the Italian national elections of March 4, 2018. the “five-star movement” (M5s) got the most votes, although the center-right wing coalition (CDX) has the largest number of seats in the Italian parliament. For the center-left (CSX), it was total disaster.

In several senses, it is not difficult to understand the results of the recent Italian elections. Think of the center-right leader, Mr. Berlusconi, as an older version of Mr. Trump. At nearly 82, Mr. Berlusconi still tries to play the role of the alpha-male womanizer, while his acolytes built up a program based on building a barrier against immigrants (not exactly a wall, because there is a sea in between Italy and Africa, but the concept is the same.). The center-right is also pursuing policies akin to “making Italy great again” (or perhaps grate again, if they were referring to Parmesan cheese).  In short, the Italian right and the American right are very similar, including such details as allowing citizens to bear firearms.

The left – what remains of it – is represented by Mr. Matteo Renzi, the perfect equivalent of Ms. Clinton, in terms of being both hateful and out of touch with reality. Just like Ms. Clinton, Mr. Renzi and his followers managed to conduct such an unbelievably obsolete and counterproductive campaign that one wonders whether he was actually paid by someone in order to finish off the remnants of what was once the Italian Communist party. It was a necessary outcome anyway, the only surprise was how well the Italian left played the role assigned by the Gods to those whom they want to destroy – that is, of becoming crazy. (at least, however, the Italian Dems didn’t blame Putin for their defeat!)

…click on the above link to read the rest of the article…

Italy’s Results are Truly Forza Italia!

Europe is headed for a breakup.  But, after a year of watching the EU establishment work the polls just enough to maintain the status quo in the Netherlands, France and Germany I wasn’t expecting much from yesterday’s Italian elections.

But with turnout over 73% we got just that.  Voters were clearly motivated to change the course Italy is on.  Now, we knew that Silvio Berlusconi’s center-right coalition would do well alongside upstart Five Star Movement.

The question was always going to be, however, how well would they do?

It looks like it was much better than the polls wanted us to believe.   Last week I told you the markets were getting nervous about this election.  This weekend the news was all about how subdued the reaction was to the polling.

As if a major technical breakout to the upside on Italian bond yields in the face of furious ECB buying wasn’t a strong enough market response?

But, that’s doesn’t fit the plan to gaslight voters and traders to worry about the potential outcome here.

The League of 5-Star Gentlemen

It looks like Five Start Movement will take more than 30% of the final tally, which is a couple of points above where polling had it tracking when the blackout went into effect two weeks ago.

The bigger result is that of The League (formerly The Northern League) who came off their secessionist mountain and ran hard on a platform of euroskepticism and anti-immigration.

The most important person in Italian politics right now is The League’s leader, Matteo “The EU can go F&%k itself” Salvini.

When the final votes are revealed, if The League out-polled Silvio “Establishment Stalking Horse” Berlusconi’s Forza Italia! then he has the hammer in coalition negotiations.

…click on the above link to read the rest of the article…

Trump and Berlusconi: harbinger of the coming Seneca Cliff

Trump and Berlusconi: harbinger of the coming Seneca Cliff

Donald Trump and Silvio Berlusconi have many similarities as country leaders. I argue here that they are the symptom of a giant political transition which is reversing the trends that started more than two centuries ago with the French revolution.  Human rights have a cost and this cost has been paid, so far, by fossil fuels (our “energy slaves“). Now that our dark slaves are leaving us, who will pay? Not a small problem and the result seems to be an ongoing “Seneca Transition” catapulting us to a new and different world. 

After one year of Trump presidency, America looks more and more the same as Italy was when Berlusconi ruled it. I am not going to list the similarities between Berlusconi and Trump: it has already been done and everyone knows about the sex scandals, the outrageous behavior, the offensive way of speaking, all that.

For Silvio Berlusconi, this kind of behavior led him to be prime minister for a total of 9 years, over more than 20 years in which he strongly influenced Italian politics. Today, it looks perfectly possible that, at 81, he may become prime minister again with the coming national elections, in March, replacing the fading star of his heir, Matteo Renzi (aka “Berlusconi 2.0”).

Donald Trump uses the same methods developed by Berlusconi and he seems to be attaining a remarkable political staying power. Fighting him, the American Left is making the same mistakes that the Italian left made with Berlusconi: demonizing him while aping his political choices. Actually, the American Left is doing even worse: at least the Italian Left never accused voters to be so dumb that they could be easily swayed by the propaganda tricks of a foreign power. A surefire way to win the next elections: first you tell them they are idiots, nay, traitors, then you ask for their vote.
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