Monday, March 9, 2009

"Yes, There is a Recession, But its Not Tragic"

The omnipotent Silvio Berlusconi (Italian Prime Minister and the person who made the above quote) seems bullish about his goals for Southern Italy and Sicily, after wanting to push on with the Messina Straits bridge construction.

Mr. Berlusconi is the richest man in Italy, and knows a thing or two about making money. He has been involved in property development along with several other businesses that help contribute to his billionaire status.

The new centre left Democratic party leader Dario Franceshcini commented that Mr. Berlusconi "sits in his golden bunker and has no idea what ordinary people are going through".

Of course we are in a recession at the moment, but in my mind positive thinking and action is what will get us through, as history demonstrates. Although Mr. Berlusconi isn't in a position to feel the financial pain many are experiencing, at least he is pursuing a venture that will help the Southern Italy economy immeasurably for years to come and shows his commitment to bringing parity between the North and South.

A contributing factor to the current climate is undoubtedly consumer sentiment and until that returns, we won't see an upturn in the economy.

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