Monday, February 28, 2011

Lice And Hair Extensions

Switzerland: The grass is always greener? The derby

Negli ultimi giorni I have been intrigued by an episode of Reservoir Dogs and news. The transmission has run the Hyenas
occupied Italian businessmen interested in relocating their businesses in a crisis Switzerland in the canton of Vaud, which offers efficient services, low taxes and little red tape and organizes meetings to encourage foreigners to move from their .

is nothing new. The Switzerland has always welcomed those who took money in the bank and skills in business. Upheld since the Middle Ages artisans who resented over Europe and were persecuted under the guise of religious practice a different variant.

But today it seems a contradiction, because if an area is looking for companies much more competitive, as suggested by the Programme Italy1?

To answer this question we go to the news: company of Ascona, in Canton Ticino, has increased salaries to employees, but only the Swiss . Do not the Italians who cross the border every day.

The Swiss franc is gaining value against the euro and then the Italians, according to the company Ticino, have already had a salary increase, calculated in Euros.

The Swiss franc is considered one safe currency, to buy in hard times. The buying of francs, which drive up the value of the franc against other currencies, put però in crisi le esportazioni delle aziende svizzere e rendono più convenienti le importazioni dall'estero.

Se la Svizzera è più efficiente, se c'è meno burocrazia, se ci sono meno imposte da pagare e se i cantoni possono offrire condizioni vantaggiose a chi investe, è anche vero che tutto ciò attira capitali e che la rivaluazione del franco svizzero mette in difficoltà le imprese.

Il paese ideale non c'è . Ciò che determina il successo di un territorio può anche provocare difficoltà e si sbaglia chi pensa che l'erba del vicino sia sempre più verde .

Friday, February 25, 2011

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earnings

Moratti e Berlusconi sono imprenditori of medium-large companies and presidents of the two Milan soccer teams, fighting for the Scudetto.

But while a few points separate them in football and a few positions in the calculation of profits received by their companies, the difference is remarkable and all in favor of Berlusconi encasing € 118 million in profits in addition to amounts ranging from 5 and 12 million for each child as told repubblica.it (see here)

Instead of the Saras Moratti for the second consecutive year closed with losses of several million, despite the recovery in sales, with a leap of over 60%, over 8 billion euro. However, profits there are no dividends and difficult to reach. The profits of the derby wins Berlusconi, one who knows football.

What Happened To Onlinestockpro

Mediaset plays down, the most expensive advertising

some time in much of Italy TV Watch only if you have a decoder . And 'the novelty of digital TV, which covers almost all the north as well as Sardinia, Lazio and Campania.

There are more channels and changing tastes of the Italians. We call more Mediaset, whose plays are decreasing, especially for the disappointing effects of Rete 4 and Italia 1, while Rai is defended well, with RAI-3 that plays over in Rai2.

Faced with this data advertisers, who spend millions cookies or to advertise a new TV, expect a decrease in advertising rates . But Mediaset is able to increase it.

How does it do? Simple: sells advertising packages. Not a single pass (one spot at 20.30, another at 22) but entire advertising packages that include passages on different channels.

you a spot at 21.20, when it ends Striscia la Notizia, and the film starts? E 'un'orario very interesting, there are many spectators. Well, if you want to buy advertising spots on Iris, or even on Mediaset Extra. So

rates increase because the package of commercials cost more than the sum of the individual spots.

Until a few months ago there was a rule of the 's telecoms regulator, which prohibited a single advertising agency to sell advertising on several television. Mediaset was to be sold by different companies advertising on the historic canals (Canale 5, Italia 1 and Rete 4) and new television as Iris.

Now the standard has fallen and has not renewed Calabrò . So come Packages: Mediaset controls through Publitalia 60% of the market and takes advantage ... How strange.

Wednesday, February 23, 2011

Vasoconstriction More Condition_symptoms

The dividends of companies (almost) State

In the coming months, the companies will distribute dividends for 2010 .

If you look at the dividends of last May you discover interesting things.

I took into consideration some of the major Italian titles, going to try and dividend price and calculating how much the dividend-price of 20 May, a few days before the ex dividend: the results are interesting.

The most important of those securities listed on a stock exchange are banks.

In banking, while the Monte dei Paschi di Siena not distributed profits, Unicredit has distributed 3 cents per share. Each share was worth 1.72 and then the dividend is equal to 1.75% of the value of the action. More generous Intesa-Sanpaolo : 8 cents of profit, the 3.8% of the value of € 2.12.

If you go to private companies that produce tangible , the percentages decrease.
Italcementi instead has distributed The only one that make 12 cents, 74% of the value of € 6.9.
Fiat makes 2%: 17 cents to 8.41 with a title. The 31 cents
Ansaldo correspond to 2.4% of the value of the action.

More interesting companies that have opened accounts with its shareholders, eager to cash. Telecom, Atlantia (motorways) and Parmalat distributed a 5% abundant.

But the real surprise is yet to come. Companies are more generous than those that the public sector to shareholders.

A2A (created by joining two municipal Lombard) has distributed 7 cents, compared with a title that was worth 1.15 euro, makes a nice 6.1%.

Eni 6.4% (1 euro dividend, an action that was worth 15.56) and Enel 7% (0.25 euro dividend, with the action that was worth 3.56 ) Snam 5.8% (0.20 to € 3.45 dividend and an action) and Finmeccanica 4.5% (41 cents dividend and 9.20 euro per share).

Two things seem certain.

The first is that companies with public shareholders offer more generous dividends, because working in less competitive sectors, and because the public shareholder needs money.

The second is that the returns are higher to safer securities. And it means little, since what they offer the BOT ...

Tuesday, February 22, 2011

WiewiÓrka Syberyjska - Burunduk

The strange principle of subsidiarity

Since Communion and Liberation has become a politico-religious movement with many supporters, especially in Lombardy Formigoni led by one of the slogans is subsidiarity.

The idea is that the state must take a step back, entrusting public services primarily to individuals, to manage them directly only when the private sector is not available. One argument in favor of subsidiarity is the increased efficiency of the private sector . The State, we think, is less efficient and more patronage of individuals, decide slowly, is not flexible.

Subsidiarity was applauded by many, left, who may not have realized that, in essence, means to procure private services paid by the State.

a nursing home (or hospital), however, discriminate against private workers, preferring those who are in line with the beliefs (religious, political or sexual) of the owner, while the public sector use tool contests and can also Use the profits to support certain political forces, which return the favor by increasing the fees paid by the Region of the nursing home. And then

is true that individuals are more efficient?

These days we are discovering the scandal of the Pio Albergo Trivulzio and Policlinico di Milano. The clinic is headed by Giancarlo Cesana, an important leader of Communion and Liberation , often committed to spread the principle of subsidiarity.

A haven of efficiency? No, the real estate of the clinic is often rented out to celebrities, politicians, friends and a quarter of the property is vacant or is assigned to tenants who do not pay.

Over one billion of assets makes just 11 million, that is a paltry 1%.

The inefficiency is guaranteed. What about the last episode of Presadiretta, who spoke of cuts in social services in Lazio and Campania, where the private money will get to treat only the mentally ill with drugs, and where is the public service heal the sick?

This is the much heralded subsidiarity by Communion and Liberation: a mixture of personal interests and crafty. At the expense of the community.

Sunday, February 20, 2011

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The incredible U.S. military spending


Latest cablegrams U.S. Embassy to Italy, revealed by Wikileaks is reported by Espresso Republic, tell of Americans who consider Berlusconi a clown which, however, lend a hand in the name of military interests.

In exchange for support, Berlusconi has offered the U.S. the opportunity to do what they want with the U.S. bases on Italian territory and sending troops to Afghanistan. More than required by the Americans.

It 's a political choice that even if we did not believe the information to Wikileaks, it is confirmed by the data .

Between 2011 and 2013 almost all the components of state budget cuts will suffer (I had written here) , beginning with education and money for workers and businesses. Are saved in within and among these the only significant increase is that of the Ministry of Defence (difesa. .. so to speak, since no one attacks us and our soldiers used their weapons to thousands of miles from Italy).

Net interest expenditure, in 2011 the Italian government will be spending 5.27% of its budget in the defense and the amount will increase. The percentage drops to 4.11% if interest, ie the sum total of spending by the state.

The U.S. federal government (see here) spends to 3.26% of the veterans budget while defense accounts for 19.27% budget.

In total, Americans spend on defense over 22% of the federal budget, 5 times the amount spent in Italy in relation to total expenditure and the equivalent of what the American state spends thousands of controversy between -Conservative - health .

Saturday, February 19, 2011

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Something creaks ... The banker

In January, I pointed out that indices begin to seem overly high , driven upwards by something irrational (see here) beyond the levels consistent with an economy in suffering.

Meanwhile nothing happened, except for some shock di piccole dimensioni. Qualche seduta di borsa negativa, ma nulla più. Sia pur lentamente gli indici borsistici hanno continuato a salire come se l'economia andasse bene e la crisi fosse definitivamente superata.

Temo non sia così. Il Baltic Dry Index (vedi qui) non offre segnali incoraggianti.

Il baltic dry index è un indicatore del valore dei noli marittimi per trasportare le merci asciutte. Non considerano beni come il petrolio, per intenderci, ma materie prime e beni manifatturieri che viaggiano soprattutto tra Cina e USA.

Il baltic index è crollato rapidamente quando è scoppiata la crisi e sta scendendo velocemente da diversi mesi a questa parte.

Si spediscono meno merci, diminuisce la domanda di trasporti e il costo dei trasporti diminuisce. Secondo gli esperti questo significa che gli USA esportano di meno verso la Cina , e che prima o poi si sentiranno gli effetti sull'economia americana, destinata a un rallentamento.

Ma se le cose stanno così, perchè gli indici di borsa continuano a salire?

Perchè le borse rispondono a una logica differente, dove prevale a volte quella che Shiller ha chiamato euforia irrazionale . Le notizie provenienti dal mondo dell'economia negli ultimi tempi sono tutte positive. PIL, disoccupazione, cassa integrazione, deficit... tutto sembra volgere al bello, le notizie negative sembrano non esistere, e ci si convince che

Ma il sospetto (spero di sbagliare) è che la tempesta arriverà. Qualcuno sta convincendo il risparmiatore poco esperto che è ora di puntare sulle azioni , perchè negli ultimi due anni hanno offerto ottimi rendimenti. Il risparmiatore si fida del consulente finanziario e compra. A questo punto arriveranno le notizie negative, oggi nascoste e gli indici scenderanno. Perchè quando compra il risparmiatore meno esperto vuol dire che i compratori stanno finendo e perchè qualcuno si spaventerà e venderà le azioni ai primi segnali di una borsa in calo.

Thursday, February 17, 2011

Pokemon Poster Of The Town

Central and the crisis of the global economy

Prima di Natale avevo consigliato un paio books (see here) dedicated to the economic crisis broke out in 2008. One of them is entitled Collapse - Too big to fail, by Andrew Sorkin, published by De Agostini .

A volume of over 500 pages written by a journalist who spent months reconstruct the events that led to the failure of Lehman Brothers and the collapse of the global economy.

Here, in brief, what happened in 2008 according to the reconstruction of Sorkin.

The independent investment banks, including Lehman Brothers and Bear Stearns, after years of lending to anyone who is full of complicated securities, for which the repayment of principal and interest payments depends on the payment of loans from those who bought the house.

The decline in property values \u200b\u200b makes it difficult to assess the value of the securities and banking who own them, and this encourages capital flight: those who have an account with these banks, prefer to withdraw the money. Others speculate downward securities of investment banks. Betting on the difficulties of these banks, the stock value decreases and others interpret the reduction as a clear signal that business, for banks, go wrong. So in turn withdraw the funds paid by condemning these banks, if the situation does not change, to failure.

governors of central banks, Ben Bernanke of the Fed, Tim Geithner and a number of central bank of New York and Treasury Secretary Henry Paulson know what's going on.

But they think the market can self-regulate and it is better influence as possible. So the summer of 2008 are busy because Lehman, as happened with Bear Sterns in March, is sold to a commercial bank with fewer problems of liquidity, thanks to its depositors less likely, compared to a hedge fund manager, to Take money away at the first sign of danger.

think that buying Lehman reassure the markets and that, consequently, the other banks business (Lynck Merrill, Goldman Sachs, JP Morgan, Morgan Stanley) will be able to raise capital as always.

Tradition holds their plan: facing a dramatic crisis, the famous JP Morgan had met the most important bankers in America and had forced them to find a solution to save the troubled banks. The failure of a bank would have carried with him the other and so the bankers had devised a bailout.

There are two problems that can be underestimated.

The first objective is the difficulty of giving a value to a bank full of unlisted securities and very complex. The value of securities depends on too many random elements.

If the value of a security depends on thousands of loans granted around America, the assessment is very uncertain. Buyers of homes in a suburb of Chicago will pay the mortgage? and if you do not pay what you will be able to collect and therefore how much will the loss of a title?
The bonds are of uncertain value, and so the banks that own them.
The second is the potential conflict of interest . To give a value to a bank requires experts capable of evaluating the budget. But who can do it (banks and firms of lawyers and accountants) can also use the data collected improperly, damage to the bank analyzed or for the benefit of a client ready to take this opportunity to buy the bank (in whole or in part) at discounted prices: those selling for fear of providing too much information. But no information is difficult to give a value to the bank.

And 'what happens with Lehman Brothers. You are unable to determine a value. Too complex to assess a flood of mortgages. At the end of Lehman Brothers fails, even is forced by the government and two governors to declare bankruptcy.

Suddenly the rules of market economy were set aside by the government, which pulled out a plan prepared by a Treasury official and required all.

Investment banks have been forced to borrow tens of billions of dollars in the hope that this would end the uncertainties and the flight of capital from investment banks, forced to become commercial banks or sold to a commercial bank.

Perhaps the hope was misplaced, since the collapses of major economies in Europe and America, but certainly the plan worked: the investment banks in 2008 no longer exist and none of them has failed.

Wednesday, February 16, 2011

Calgary Free Swing Set

Why Moratti Pirelli sells shares?

tells George he Meletti The country of Moratti (Chiarelettere 2010, see here) that when the judges have asked Massimo Moratti information on the IPO of its SARAS, he said not to understand much of finance.

And how can we believe him, because he managed to spend about € 1300 million since he is president and owner of Inter?

The last gift that has been done is called Pazzini. Fifteen million plus a player.

few days later sites that deal with sports subsequent transfer into the house told Inter Kharja would come from Genoa , but only if he had completed the transfer of Muntari to an English team.

One oddity, at least in appearance. For a very inexpensive, on the other expects the transfer of Muntari obviously not to increase the company's accounts .

But then it turns out (see here) that in the meantime Moratti has sold a large number of Pirelli grossing approximately 16 million. A figure close to that expenditure to buy Pazzini from Sampdoria.

Maybe the money at home Moratti is ending? Or maybe she needs to make money because the banks do not offer him more credit? Or maybe Moratti knows finance and sells shares in Pirelli worth their while?

PS If someone asked why I chose the photo you see, the answer is simple: how to define a spending of € 1.3 billion to maintain a football team and also be fooled by Moggi?

Tuesday, February 15, 2011

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Why do not you invest in Italy

In the House, answering questions about the programs of Fiat, Sergio Marchionne explained that the choices in Italy Fiat will depend on the conditions that: only if the conditions are the best will remain the headquarters in Turin.

Raffaele Lombardo hand, is the President of Sicily elected after the conviction of Totò Cuffaro, now in prison, who as president was passing information on Sicilian criminal investigations to a nominee of the mobsters who ran some private clinics.

Marchionne When asked to invest in Termini Imerese , Cuffaro replied positively but then did nothing.
Thus the Fiat plant in Sicily, created decades ago with money from the Cassa del Mezzogiorno, to assemble cars, is closing.

produce cars in Termini Imerese costs too much. We must bring parts produced in other factories in central and southern Italy and the cars are assembled, they must be transported to Catania, where he rose on the ships headed north. The higher costs could have been avoided with new investments in Sicily, but the operation did not go through.

Today the government, albeit late, has had a hand in projects for the future of the plant in Sicily, and this article explains how repubblica.it , Marchionne has been said to work as long as all employees are assumed by those who will take over Fiat Termini Imerese and Lombardo advised him not to be seen more in Sicily.

The governor is not new to these positions. A few months ago when he took with IKEA, the Swedish giant which will open a store in Catania. Ikea has assessed the workers of a company in crisis and has decided to take only a part. For

Lombardo (as explained in this article) the vertices of IKEA retain the typical attitude of the foreign groups that come to Sicily to get their ourselves comfortable. "

short, it's Ikea opening a store or Fiat is asking its workers to summarize, Lombardo is never happy and shows a certain hostility toward those who want to do business in Sicily .

How, with such people, to think that someone invests in Sicily? We can hardly be surprised that investors rotate away from Sicily and Italy in general, where many political act motivated by personal interests conflict with those of business.

Monday, February 14, 2011

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Frontiers in combating bank seigniorage



Sunday, February 13, 2011

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Italy is a republic based on the game ...


now we just that cling to the game of chance for hope of redressing the balance of the state!
How do I read from "The Republic " now we really are the fruit!
the words of my professor of Financial Mathematics, Professor Ottaviani, in any game of chance the only one who makes money and the dealer . And now is the bench. The calculation of probabilities and do not mind here you can find a brief overview of the most popular games.

It must be said that the role of the state as a collector of taxes - say voluntary - is a bit 'too important not to throw doubt!
Lately I see a flood of television advertising on games gambling accompanied by a hypocritical inscription: "play responsibly".

I have never seen or heard anything further from the truth!
At the level of advertising of cigarettes and alcohol!

But how?!? The state encourages, supports, collects, and on the other hand tells you to gamble responsibly?

The truth is that the state is extending his hands on all the games, on line, and machines running any game where money, in order to collect as much as possible.
The collections can be quantified already in billion !

So instead of fighting tax evasion because they do not focus on the games? Easy, cheap and the taxpayer is happy to pay!

Saturday, February 12, 2011

Cancer Research Uk More Condition_symptoms

Meritocracy bankruptcy Gelmini

Minister Gelmini , whose merits are dubious school (graduated in law, went to 1000 km from home to take an easier exam as a lawyer and has never accepted the invitation of Bersani to show their votes), wants introduce meritocracy in the school.

How? With complex assessments of work and a cash award to deserving teachers. A fourteenth month.

That seems so good, but doubts and problems are many.

How to decide if it's a good philosophy teacher or a math? And 'the best teacher or professor severe generous (in votes)? It 's more a good professor who closely follows the program or what comes out of the sow but inspires students? And how to evaluate the clarity in the exposition of an argument? E 'credible that a president vows to give his teachers or professors that they are deemed? When

then some were awarded, how would their relationship with other teachers ? Those who are not rewarded and may resent someone could change its behavior, worsening the quality of service in order to get the prize. I doubt

assessment of the merits are therefore legitimate and only 35 schools out of over 1400 candidates in the trial have agreed to participate in the evaluation proposed by Gelmini (see here) . In addition, the

Gelmini Brunetta (another minister whose merits are dubious as demonstrated in this article) were able to propose an economic incentive but have not allocated a €. The money should come from the same schools, who already suffer from a chronic shortage of funds. And 'natural, therefore, that many say no to policies that have few certainties, except that of a little credit for those who propose certain methods of assessment.

Friday, February 11, 2011

Online Tech Deckgames

Tick \u200b\u200bthe burqa among ultra-observant Jewish

N el town of Beit Shemesh women covered from head to toe in burqas blacks:
are adepts of a Jewish sect ultras who accompany their daughters to school.
Why rabbis are silent?

The Taliban have arrived at the gates of Jerusalem. Every morning the residents of the town of Beit Shemesh come see women covered from head to toe in burqas blacks, but Islam has nothing to do this time: they are adepts of a Jewish sect ultras, who accompany their daughters to school. And the girls are wearing dark hoods, their faces covered rigorously. The secular press and s'inquieta spoken of as "Jewish Taliban." Theirs is an extreme form of religiosity, which Israel began to take hold in 2006 and now already has several hundred of the faithful around the country.

recognize in the crowd is easy: they are daughters of a radical interpretation of the commandment of the Jewish 'tzniut', which requires women to dress modestly in order not to attract attention and lust for men. Feet and head covered, sleeves that reach to the elbow, knee-length skirts: women 'harediot', literally "fear", all dressed like that and there are hundreds of thousands, in constant growth in the country of Zionism. But the 'Taliban' go further, do not show even an inch of skin. "A man who sees parts of the female body - explain - is sexually stimulated, and this leads him to sin. Our habit saves us, and save people from themselves. " In this logic, even the girls have to be veiled: "Some men look at you as sexual objects - argue the mothers in black - and then the true values \u200b\u200bshould be taught from an early age." The view of the small bundled up in yards of fabric did raise more than an eyebrow.

The National Council for Child Welfare has asked the ministry to investigate, anche perché le bambine vengono indottrinate in scuole a parte, gestite dalle loro madri. E nessuno vigila sui metodi impiegati in questi appartamenti riconvertiti in classi, né sul programma didattico. Nemmeno la comunità ultra-ortodossa tradizionale apprezza questo zelo, se non altro perché molti affiliati della setta sono neofiti che hanno riabbracciato la fede dei padri solo di recente. “Sono gli ultimi arrivati e osano dire che le nostre donne non sono abbastanza modeste”, s’adontano gli ‘haredim’ di più antico lignaggio.

Le ‘talebane’, però, ribattono serafiche: “Sono loro che sbagliano, loro e le loro donne”. Il dibattito ferve e investe, oltre il compliance 'halacha', religious law, the more general issue of indentation Jewish. A topic that, for odd coincidence, these days he did well to head the Knesset, the parliament of Israel. Where yesterday was celebrated in an atmosphere which is not without conflicts between right-wing parties and representatives of the Arab minority, the first 'Day of Jewish identity. In substance, deputies and deputies have discussed how to preserve the ethnic and religious roots among the younger generations. And members of the hard wing Likud party of Prime Minister Benyamin Netanyahu, received a clear answer: to discourage in every way mixed marriages, particularly with the Arabs, as admonished by the heat 'pasionaria' nationalist Tzipi Hotovely. Pointing to a solution that would inevitably drew accusations of racism - as well as "an attack on Israeli democracy" - inside the classroom as in the newspapers. And the controversy here, too, appear far from abating.

Source: ANSA

Tuesday, February 8, 2011

Trailers For Sale In Northern Ireland

How to avoid scams of dishonest financial advisors


Se un cittadino vuole impiegare i suoi risparmi può recarsi in banca, ma può anche ricevere in casa un incaricato della banca, il promotore finanziario . In pratica si tratta di un signore a cui la banca ha dato l'incarico di collocare i prodottori finanziari: un fondo o i tradizionali BOT. Ha una particolarità: può andare a casa dei clienti e ricevere soldi che poi provvede a investire per conto dei clienti.

Il promotore deve aver superato un esame e essere iscritto a un albo, oltre ad aver ricevuto un incarico da un'istituzione autorizzata a raccogliere il risparmio e a collocare titoli.

Ogni tanto qualcuno truffa : incassa i soldi, promises high returns and then flees with the money of others (see for example here).

How to Defend Yourself?

First of all you can wary of promises of high returns . Banks placement of securities with yields not too far from the yields of Treasury bills. If the BOT offer 2% is unlikely that the bank promises to 8%.

Then you can check that the developer has the right cards. The register is public and can be found here data promoter.

But, above all, it should be a rule easy to remember : the financial planner must accept only checks or bank transfers made payable to bank he works for.

If it asks you to leave blank the recipient of the check or if the header tells you why he will then pour it on your own, is committing an error which leads to the first suspension and then, if repeated, the radiation promoter from the register.

By check made payable to the bank but the risks are reduced. The promoter can not escape easily with your money. But who knows be required to checks payable to a bank?

Sunday, February 6, 2011

Cholesterol Test More Condition_symptoms

The synthetic gasoline tax asset


If the news (see here) is confirmed, we are faced with a revolution: an English company, Cell Energy, seems to have discovered a way to create a fuel derived from hydrogen and used with the engines now in production at affordable rates, around 30 cents per liter (1).

A source of energy at affordable prices without CO 2 , derived from hydrogen and can be used with current engines would be really something extraordinary.

First you change the geo-political balance in many areas of the world. The struggle for control of oil has caused wars and political compromises little ladies, but has also caused major economic impact: the money earned by oil producers have increased the instability foreign exchange and financial markets.

With an artificial derived from hydrogen gas, the Europeans and the Americans will import less than what happens in Iraq , Iran or Venezuela and weigh less choices China, which now is a great consumer of oil. No more worry about, also the oil reserves or the price. We will also leave in the ground or will be used only in poor countries who can not or will not acquire the technology to produce synthetic gasoline, or the countries currently produce oil.

Then they will probably wiped out many projects, sometimes illusory, to change the world of transportation.

Years ago it seemed certain the changeover to hydrogen. In a book of great success, the futurist Jeremy Rifkin has suggested major changes in the economy through the introduction of engines driven by hydrogen, which could replace conventional engines.

but it turned out, at least so far, illusion. The high cost of hydrogen and the difficulties of creating a distribution network in security conditions have made the road impassable hydrogen. So

is back in fashion 's electric car, which can now enjoy a better technology. There remain some problems: electric cars are expensive, they have little autonomy and there is no mains supply. Use is limited and therefore models sold do not meet the favor of potential buyers.

In Italy they sell less than 200 electric cars a year, about 1 in 10,000 cars. Practically nothing.

The only way to go to transport "electric" and focusing on railways, building new lines, most modern and fast.

But what happens if you fail to produce a synthetic fuel that does not generate CO 2 and is not derived from petroleum? will be still convenient point on the power or the railways? Serve new railways and new roads used by trucks powered by traditional with non-fossil fuels?



--- (1) The article talks about $ 1.50 a gallon: In view of the euro / dollar and a gallon equals 3.79 liters, the rate is about 30 cents per liter

Thursday, February 3, 2011

Morrowind Patch V1.6.1820




meanwhile that the government lucubrate fantasies about federalism someone tries to evoke the threat of a charge sheet.

But what is a charge sheet ?

To answer must take a step back and understand what is taxed in the Italian system.
In Italy the greatest tax, ie VAT, IRE, IRES and IRAP, flow rate of Income, value added or production capacity.
Simply put, if I had to 01.01.2010 100, then this year I produced 50, will be taxed only in the production of income of 50, (say 25 ...) so that at the end of the year I have 100 + 25 = 125.
I then taxed a flow, not the heritage.
The same thing will happen in 2011 with the new stream of income. You can do an example with the money in the bank: interest income are taxed (27%), but not the money to the account generating such interest.

If I decide to introduce a tax assets the government will tax the assets. So, for example, if the 01/01/2010 avevo un conto in banca di 100.000 Euro, oppure, per generalizzare, dei beni mobili o immobili pari a tale cifra, verrà tassato il patrimonio.
E gli interessi una volta introdotta tale tassa?
Probabilmente, visto che il fine è racimolare soldi, nulla cambierà.
Quindi alla fine verranno tassati gli interessi e il patrimonio.

Ricordo che nel nostro ordinamento esistono già tasse patrimoniali: l’ ICI è una patrimoniale sulla casa. L’ IMU sulle seconde case sarà una patrimoniale.

Ma quali saranno gli effetti di un’introduzione di una patrimoniale?

Le tasse patrimoniali, per loro natura, si prestano molto bene a real estate tax, as impossible to move, and land or houses, causing still discursive effects on rents and inflation: in fact, rents will rise much higher the capital, turning at the end of inflation in the net. Speech

different when you try to tax the goods. Just passing to meet the formidable difficulties .
not difficult to tax accounts, perhaps with a tax on the storage media. Unpopular, but possible.
Technically it is possible to tax all investments made in Italy, it is sufficient to impose the financial intermediary to act as withholding agent. But financial investments by the pension fund is meant to BOT to receiver. If you introduce a
Capital Securities who would buy them again? Who would buy government bonds, knowing that would be burdened by a property? So the state should offer higher rates to sell them, they must pay higher interest rates, interest than offsetting the revenue from the capital. Except in the case of securities purchased abroad. But as we know more than half of Italian securities are owned by the Italians themselves.
effects there would be worse on every type of investment: no one would invest more in Italy, wishing to invest will also be addressed to foreign investors. Then
there are assets consist of shares. If I own 20% of Fiat, I do not have unlimited cash, but my participation is worth a lot. Yes, but how much?
How much is a share of society? If the quoted value should it (the conditional is a must ...) to the market, for the others, which are 99.99% of the total who evaluates? Remember that you can do a limited company with capital of € 10,000 bill that even 100 million a year. And the value of that company is NOT the capital, but need a special skill that sets the value, on average every 3 months.
Finally we come to any other movable property: things. Yes, because if I own a Van Gogh , I have no money liquid, but if I sell it but I'll have plenty of them. And if I have the same jewelry, luxury cars, precious metals. Think of the case if I buy a ton of copper! E 'assets.

If I have a mix of all things above, then it becomes evident the difficulty in determining the final value and why it has always waived, with the exception of property, to tax wealth. Moreover, the richest instantly transferred their assets abroad or take up residence abroad, and then the tax would be so difficult and unpopular to make it impractical to apply. Here at

"La Stampa are well stigmatized some problems and some proposals. Other interesting comments here .