As Wall Street whines about the Fed and seems to only care about getting stock prices higher, very few people we know can connect the dots and understand that the world economy and the post-war global geopolitical order, for that matter, are in the midst of “The Great Reset.”
All things as we have known and have become comfortably numb with, such as zero interest rates, negative real interest rates, quantitative easing (digital money printing), and Pax Americana, are being upended and overturned. Beware of recency bias, folks, as the global structural shifts and changes are now ubiquitous.
Sunday’s election in Italy is just a fractal of the Great Reset, which will usher in the hard-right new prime minister, which, we believe, history will look upon as “Ms. Mussolini.”
The eurozone is in trouble with a capital T.
Giorgia Meloni’s electric performances at political rallies have made her a virtual shoo-in to become Italy’s first female prime minister in Sunday’s ballot. She’ll also be the first to campaign with the flame symbol, evoking the former fascist leader, Benito Mussolini.
The prospect of a charismatic nationalist taking power with almost no government experience has investors and officials on edge. Italy, of course, is wrestling with the fallout from the most serious conflict in Europe since WWII. But the country has been adrift for years, struggling to hit on a formula which can unlock its potential while staying true to its identity. – Bloomberg
Our good friend, Professor Constantin Gurdgiev, in his priceless sense of humor, put it this way,
P.S. My 19-year-old daughter is traveling in Italy and promised she would pick up and bring back a few copies of the major Italian post-election newspapers from Monday morning.
Global Macro Monitor 
They have some actual Mussolini’s in the party…one is a city Councillor in Rome!
So, the thing is about proportional representation is that with <50% of the vote you have to form a coalition to govern and then it is hard to get your way as your more extreme policies will probably become diluted in the coalition agreement with other parties. And generally the further you are from that 50% support number the more diluted they will become.
Being the the most popular party doesn't guarantee you a place in Government in the PR system, particularly if you have 'political pariah' status. Just look at the case of SF in Ireland at the moment, and the historic coalition of FF & FG (+Greens) that kept SF out if you need confirmation of this factoid.
Look at the Orthodox parties in Israel, or even the Palestinians have three members of the Knesset in the ruling coalition (I believe). They have outsized influence and can cause the government to fall.
“Israel is headed to a fifth general election in three years, as its governing coalition has collapsed. This government, which was sworn into office on 13 June 2021, was a hybrid of the far-right, the centre and the Zionist left, alongside an Islamist-oriented party representing elements of Israel’s Palestinian Arab minority.”
https://www.crisisgroup.org/middle-east-north-africa/east-mediterranean-mena/israelpalestine/israels-governing-coalition-crashes-setting-stage-new-elections
Hey, my Irish brother from a different mother, the former 5=star mayor of Roma who served from 2016 to 2021, is sizzling hot.
Whoops, non-PC, but I am Irish…
https://www.independent.co.uk/news/world/europe/rome-streets-fascists-rename-mussolini-mayor-virginia-raggi-a8636631.html
Yes, and also very non PC of you to blame that slip on your Irish ‘blood’.
Yeah, the PR system over time seems to result in spilts where minor parties or even independents seek the influence you described. I am aware Israel is another good example though I think they have a different way of doing PR to Ireland and Italy. Different politics in each but all with similar fractured parties. If Ireland ever unites I imagine it would look even more like Israel after unification with all the northern parties sucked in.
Have you heard of the Healy-Raes from Kerry? They are the ultimate version of this here. Biggest vote getters in the country. They don’t even bother to pretend they have substantial political positions. Like Trump thd line between comedy farce and reality becomes totally blurred. Fortunately unlike Trump Kerry can’t bestow nuclear codes on them!
Healy Rae reality – https://youtu.be/HmJxEb2y66k
Satire mixed up with reality – https://waterfordwhispersnews.com/2021/02/12/what-you-didnt-know-about-the-healy-raes/
And straight satire…https://youtu.be/rKe2CxwHoGY
“The secret to success is to offend the greatest number of people.”
— George Bernard Shaw
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