172driver wrote:
In the southern parts of Italy you’re the exception if you’re not paid in cash. This isn’t surprising and also – albeit to a much lesser extent – holds tru in southern Spain.
If they’re wanting to be outside the system you’d have thought they’d accept they’re not going to get the handouts. Take the bad times with the good. Not having to pay tax would be quite an advantage.
Economically this has got to be a tremendous strain on the eurozone, especially given the different fiscal behaviours and at the moment ways they’ve been hit by the outbreak of each country.
I see a German state finance minister has killed himself, the numbers must have been looking pretty terrible..
My wife had very much the same setup in Germany but trust me as with the Italians with whom I have a fair amount of personal experience, she would have been supported just fine ‘in famiglia’ if the cash flow stopped for a while.
They just built a €1.8 M second house in Austria using cash on hand, having started life as industrial peasant apartment dwellers.
Hm, despite all the differences, I think we all can agree on this :
If they’re wanting to be outside the system you’d have thought they’d accept they’re not going to get the handouts. Take the bad times with the good. Not having to pay tax would be quite an advantage.
Same here in the UK. The support for the self employed is only for one which have been filing tax returns, and excluding the very recent ones to prevent obvious fraud opportunities. If you live off cash then you are on your own and everybody must understand that.
No smart investor will be buying stock at this point. It would be contrary to all investment strategies. Never try to catch a falling knife, buy only when there is total capitulation, etc etc.
The US stock market just had its best week since 1932. Prices reflect expectations of future returns, so usually stocks go up earlier than what you would expect.
It’s called a dead cat bounce
The amateurs buy at this point 
Mooney_Driver wrote:
Recommendations don´t do anything at all.
That’s not true. The Swedish recommendations have lead to massive changes in behaviour.
Rwy20 wrote:
The point being, many think it’s always the others, not themselves
The truth is more complex. In order to thrive in the real world you have to believe it will never be you while knowing very well it could be you (even with the odds hugely against it) and managing risk accordingly. I think it’s nothing to do with bias, but is instead a key philosophical difference between being a proactive winner and a complacent, compliant loser.
Rwy20 wrote:
Then let me reply with this @esteban . The point being, many think it’s always the others, not themselves:
OK, I admit, my post maybe turned out not exactly as intended. :-)
Fighting with your own biases and stupidity is a whole life struggle for most (including myself, of course; its lame to write it here so explicitly, basically insulting the reader, but the internet is too full of misunderstanding).
And times like these exacerbate things a bit.
