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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding
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To: Elroy Jetson who wrote (9349)9/29/2022 1:41:26 AM
From: elmatador  Read Replies (1) of 13801
 
: The net private wealth of Italian families rose by 102 billion euros ($111 billion) to a total 10 trillion euros during the 2020 pandemic year, according to a joint report by the Bank of Italy and the country’s national statistics institute. Italians continued to concentrate most of their riches in real estate and there was an increase in deposits and insurance investments, the data showed. In the same period, public wealth decreased by 260 billion euros to a record negative value of 1.5 trillion euros
Italians Grew Richer During Pandemic as State Grew Poorer (source Bloomberg)

Italians keep the money out of the government's hands. Compare with California where people give the money to the state.

Italians have traditionally invested their savings in real estate or government bonds, failing to support the creation of thriving capital markets. Italians have traditionally been big savers, and are among the highest per capita in terms of wealth in the world today.

However, as in most of continental Europe, the wealth of Italian families is strongly skewed towards housing and other real assets. In 2012, financial assets accounted for only 39% of their total assets.

This value is roughly aligned with that of France and Germany, but below Canada and the United Kingdom (both around 50%), Switzerland and Japan (approximately 60%) and especially the United States (about 70%.

Let's hope Giorgia will make the right conditions for the Italian capital to be productive
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