There is no money

21 June 20222 years ago babelfish

This:

is a chart that I keep up to date using the data, which is published here . The interpretation is not immediate. Of course, in the first year of the pandemic (March 2020), Treasury liquidity took a dangerous dip to the bottom. From August 2020 onwards, however, we have almost always found ourselves beyond the results of the previous two years, and growing (also in 2022), which obviously is consistent with the fact that tax revenues, which decreased by 5.3% in 2020 , are then increased by 10.8% in 2021 .

Obviously, liquidity is not only made up of how much it enters, but also of how much (not) it leaves. When they tell me that "there is no money" I nod knowingly. The liquidity you see may not exist, in the sense that it is committed to subsidies that will not be given because the decrees to pay them are not made (even if the latest report on the implementation of the Government program, which dates back to January , indicates a conspicuous decrease in the stock of unimplemented measures), after which perhaps it will be decided that the announcements made have been forgotten and therefore "in the folds of the budget" it will be announced as subsidy t + n what has not been spent of the announced subsidy t .

State accounting remains for me a mysterious, in some way priestly matter: it has its Church, which is the RGS, and its clergy, austere and self-referential as befits.

Meanwhile, these are the numbers.

This is a machine translation of a post (in Italian) written by Alberto Bagnai and published on Goofynomics at the URL https://goofynomics.blogspot.com/2022/06/non-ci-sono-i-soldi.html on Tue, 21 Jun 2022 12:40:00 +0000. Some rights reserved under CC BY-NC-ND 3.0 license.