Reflections on the Italian Election Debacle

You know there was that French sociologist who pointed out that French suicides went down during the Franco-Prussian war. 'We're all in this together' occurred anomie was relatively banished. Having a currency is something like that. 'Let a smile be my umbrella' the song goes, but we all know that is being a bit gay. It really is 'Let $3.98 be my umbrella.' When you have a little, you are part of the dollar society; you have choices. You belong. When Italy had the lira, similarly all Italians were 'in it together.' If the value of assets slid, they all slid together from the Mafiosi to the street cleaner. To reduce Italy's collective claim on the rest of the world and on each other is fractured more among asset classes when the government employee retains her Euro salary and the factory worker becomes unemployed and has to scuffle underground. - See more at: http://www.thedailybeast.com/articles/2013/02/27/italian-default-starts-to-look-more-likely-again.html#sthash.i74WrLiM.dpuf