Where have you gone, dear austerity rigorists? The collapsing state needs you.

Where have you gone, public spending detractors and austerity advocates? The public debt goes to 160% of GDP and yet you don't see the vultures on the Italian carcass.
There are, of course, but they do not yield. Because?
Where are you, anti populists, champions of democracy, justice and the rigor of accounts, on the skin of the unemployed and the exodus?

It thundered so much that it rained.
Rain of billions, firepower, and government bond purchases like never before.

Impossible, you say. But what if until yesterday the gods would have been scandalized just to hear about it?
In fact, until today about the trillion of firepower we have only heard about.
Not a cent has settled on Italian soil.
The rain of European billions hooked to the Recovery Fund cloud is hovering (on the contrary) in the dreams of euro fans.

It thundered so much that it rained … on public debt

But the rain of selling government bonds, there was. Or rather, there would be if only the ministry of the economy decided to open the taps, or rather the presses of the printing works on Italian Treasury bills.
Now, in times of black plague and curfew, Italy, which also tops the world average for deaths from covid-19, has become so reliable that its debt securities even issue negative rates.

And you know what all this means, right?
It means that for every hundred euros that the markets lend us, we will give them less at maturity, keeping the difference in our pockets.
Some examples?

One-year BOTs, rate -0.226%

Five-year BTPs, rate -0.09% and ten-year BTPs just above 0.5%

Even BTPs. Stuff you really wouldn't believe. And at auctions , our titles have been selling like hot cakes for at least two years; with investors too far behind in line who can't make it in time to buy them!
And the examples of the past months are wasted …

But the rates were already undisclosed by 2018 with the Papeete government in charge. Evidently considered very reliable.

Where are you, champions of the theorem: reliability = low spread?

So why do we ironically insist on the reliability of these Governments, so lavish with positive results that we have reached a debt-to-GDP ratio of 160%?
Because we all certainly remember that the economic vulgate spread by the major information channels in the sector and not, politicians like Marattin and fans of the curve have always placed at the top of the mountain of reasons for our economic and financial recession, the recession of the political credibility of the 'Italy.

This is why Berlusconi has been succeeded by technical and political governments that are gradually more and more appreciated by the financial markets.

The reputation of governments is sometimes based on public finances, sometimes on tastes.
When will it be based on citizens' vote?

And here we come to one of the many knots that we should notice between the teeth of the comb and that instead we blissfully continue to ignore for the sole purpose of considering ourselves superior to those who do not think like us, so stubbornly rooted in our self-beliefs.

Why is the reputation of Italian governments always inversely proportional to the results they obtain in favor of citizens?

Sources: Twitter – Il Giornale – Repubblica