{"id":21958,"date":"2016-10-08T15:49:53","date_gmt":"2016-10-08T20:49:53","guid":{"rendered":"http:\/\/olduvai.ca\/?p=21958"},"modified":"2016-10-08T15:50:37","modified_gmt":"2016-10-08T20:50:37","slug":"the-coming-collapse-of-the-worlds-biggest-economy","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=21958","title":{"rendered":"The Coming Collapse of the World\u2019s Biggest Economy"},"content":{"rendered":"<h3><a href=\"http:\/\/www.internationalman.com\/articles\/the-coming-collapse-of-the-worlds-biggest-economy\">The Coming Collapse of the World\u2019s Biggest Economy<\/a><\/h3>\n<p class=\"by-line\"><img decoding=\"async\" src=\"https:\/\/d24g2nq85gnwal.cloudfront.net\/images\/authors\/IMC0907.jpg\" alt=\"The Coming Collapse of the World\u2019s Biggest Economy\" \/><\/p>\n<div id=\"article-body\" class=\"margin_top_25\">\n<p>The stage is set for the collapse of the world\u2019s largest economy\u2014the European Union. The trigger: Italy\u2019s exit from the euro currency.<\/p>\n<p>The\u00a0<em>Financial Times<\/em>\u00a0recently put it this way:<\/p>\n<p>An Italian exit from the single currency would trigger the total collapse of the eurozone within a very short period. It would probably lead to the most violent economic shock in history, dwarfing the Lehman Brothers bankruptcy in 2008 and the 1929 Wall Street crash.<\/p>\n<p>If the\u00a0<em>FT\u00a0<\/em>is even partially right, it means we\u2019re looking at a possible stock market crash of historic proportions. It could devastate anyone with a brokerage account. But it could also present enormous opportunities to profit.<\/p>\n<p>Here\u2019s how it could happen\u2026<\/p>\n<p>What started out as a joke has become Italy\u2019s most popular political party.<\/p>\n<p>In 2007, Beppe Grillo, an Italian actor and comedian, launched Vaffanculo Day (\u201cvaffanculo\u201d is Italian for \u201cf*** off\u201d).<\/p>\n<p>Grillo and his followers used V-Day to bluntly express their displeasure over Italian establishment politicians using imagery from the movie\u00a0<em>V for Vendetta<\/em>.<\/p>\n<p>V-Day helped organize Italians frustrated by their political system. It gave birth to the Five Star Movement, Italy\u2019s new populist political party.<\/p>\n<p>Grillo\u2019s Five Star Movement\u2014or M5S, as it\u2019s known by its Italian acronym\u2014is anti-globalist, anti-euro, and anti-establishment. It doesn\u2019t neatly fall into the left\/right political paradigm.<\/p>\n<p>According to the latest polls, M5S is now the most popular party in Italy. It won mayoral elections in Rome and Turin earlier this year.<\/p>\n<p>M5S is riding a wave of populist anger at entrenched political elites over economic stagnation. Italy has had virtually no productive growth since it joined the eurozone in 1999.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Coming Collapse of the World\u2019s Biggest Economy The stage is set for the collapse of the world\u2019s largest economy\u2014the European Union. The trigger: Italy\u2019s exit from the euro currency. The\u00a0Financial Times\u00a0recently put it this way: An Italian exit from the single currency would trigger the total collapse of the eurozone within a very short [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[150,236,279,284,312,8262,6228,5415,11725,14445],"class_list":["post-21958","post","type-post","status-publish","format-standard","hentry","category-economics","tag-collapse","tag-economic-collapse","tag-eu","tag-european-union","tag-financial-crisis","tag-financial-times","tag-international-man","tag-lehman-brothers","tag-nick-giambruno","tag-wall-street-crash"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21958"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21958\/revisions"}],"predecessor-version":[{"id":21960,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21958\/revisions\/21960"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}