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Trajan last won the day on August 19 2013

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About Trajan

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  • Birthday 01/01/1914

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    San Vito dei Normanni
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    British (English if Alex Salmond gets his dumb way!)

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  1. Don't look now - it's the end of the world! As soon as it warms up I'm out on the bike to find this "resort town of Salento"; I think it's very careless of our Italian hosts to lose it! But, maybe that's because there's been vastly more tectonic plate shift than we feared (see map)? Happens when you live in a highly volcanic area - apparently.
  2. Italy's UniCredit shares SUSPENDED as banking crisis grows
  3. That's the Remanian-supporting Londonistan Chronicle! Try: House prices defy gloomy post-Brexit forecasts Mind you I think the rest of the UK is willing a collapse in London prices too. But this won't be due to Brexit, it will simply be a return to some marginal sort of sanity.
  4. Italy PM pledges 'new friendship' with UK post-Brexit as May repeats EU migrant vow
  5. IF house prices fall the predicted 5% that will be great for first-time buyers, and will be great for people trading up. If you are trading down you'll hardly miss it. The market is way overheated in any event, and a fall is long overdue. Mortgages are very low and have been carefully regulated as to affordability over recent years - there's probably no one to feel sorry for. They are A LOT higher than bank rate though, so a doubling in bank rate (say from 0.5% to 1%) wouldn't have a significant impact. Inflation isn't a problem, it's the lack of inflation that's the problem - these are not normal times! The upside is that savers might get some sort of return on their money, at the moment it's derisory. Markets live: FTSE 100 finishes the week up more than 2pc after recovering from 8.7pc drop as pound falls to 7-year low 1 British Pound equals 1.23 Euro Were you panicking in 2011 and 2013 too?
  6. It is all funny money - it does not really exist! It's only worth anything because people have confidence that things will continue tomorrow much as it did today. If people stop believing in the emperor's new clothes they stop believing in the same kind of new clothes on emperors everywhere. The buzz word for this is international monetary stability. The central banks have no option, and Sterling will not go down "big time" because greed rapidly overtakes fear in markets. I'm in regular contact with a large Irish investor who had a huge windfall fairly recently, and he's just waiting for an opportunity to switch his Euro cash-pile into Sterling. He needs Sterling because he has a house in Ulster too, and his kids get a much better education at UK schools. He is one of many such investors who will try to take cash off bankers who sell Sterling short. Every pound today has exactly the same backing in national wealth as it had yesterday, all that has changed is a perception of the prospects for the UK economy. That the world's fifth largest economy (shortly to overtake the world's fourth largest) can't earn its way in the world better outside the overall control of European politicians who have failed in their home country, is an illusion that will be dispelled relatively quickly. Another Euro crisis is already brewing and the markets will switch to fretting about that. The UK will be saving going on for £400,000,000 a week in EU contributions quite soon (yes some of it comes back as rebates with huge strings attached, but it's not really UK money then), and the EU has to find most of this this money from other nations somehow. Mrs Merkel is in no position to write out a cheque for this with the AfD and others breathing down her neck, so where is this money coming from? There's also a concealed £20BN hole is the delayed EU budget, where is that money coming from? Will you be complaining when the BoE is helping to maintain confidence in the Euro?
  7. And up again! Well, the UK now has an Liberation Day too! Wake up Italy and put away those "pannicelli caldi" - you need a new road and it's called Via Italia! Ultimately the bunny who's name starts with G will be happier than ever before when the Italian economy starts to grow once again; don't keep her hanging on!
  8. It doesn't matter who does it, but someone has to face up to harsh reality. Italy's currency is now about 35% overvalued, and this can't go on much longer. Personally, I don't think that the proposed southern euro is a workable answer; it would be economically shackling Italy to Greece, which can't be good for what's still left of Italian industry. Either Renzi wakes up one morning and thinks damn the ECB we have to do it, and swiftly, or he joins the long roster of failed politicians. A Friday night "surprise" announcement is always the preferred method. Just make sure you don't have too much....
  9. Ah, all is clear now. In fact that's just what was meant this afternoon, once again navigating the San Vitese road system, when it was remarked that the holes had now been crudely filled: Italians love to patch things up, even if they will be just as bad - or worse - in no time. Palliatives - it figures!
  10. Italy seems great on puppet politicos, and she's quite obviously not going to sort Rome's problems, BUT Five Star has the solution to Italy's main problem. In fact your dear friend Silvio had more or less the same idea, before he was speedily replaced by fully paid-up EU puppet.
  11. I came across pannicelli caldi in an article. I now know it means palliatives, but what is the literal meaning as pannicelli itself doesn't seem to translate?
  15. World's 50 best restaurants: Italy's Osteria Francescana is No 1 - but which three UK eateries make the list?