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03/11/2020 / By Ethan Huff
Now that the entire nation of Italy is under mandatory lockdown due to the Wuhan coronavirus (CoVid-19), officials there are readying to suspend all mortgage payments and even some tax payments to help the nation’s confined citizens avoid going broke.
Reports indicate that movement has now been restricted for some 60 million Italians, meaning they won’t be able to go to work as normal or really do much of anything other than sit at home in isolation. Consequently, many of them will no longer be able to make money in order to pay their bills, which is why authorities are intervening.
Ministers in Italy are also asking the European Union (EU) to increase Rome’s deficit spending limit beyond 7.5 billion euros (roughly $8.5 billion) in order to help struggling businesses that are being hurt by the sharp drop in tourism that’s occurred over the past month.
“The measures (will apply) for all of Italy,” stated Deputy Economic Minister Laura Castelli.
These new support measures for both families and small businesses throughout Italy were set to be unveiled on March 11, and may include “the suspension of the payment of (salary) withholdings and contributions” to various Italian tax funds, according to MarketWatch.
It is expected that Italy’s economy could contract by 1.0% between April and June, according to numerous banks throughout the country that stand to be affected by corresponding losses.
“We are worried about this and for this reason we pushed the banking system to give as much as possible (on the) suspension of mortgages,” Castelli added. “You will see the details in the next few hours.”
Listen below as Mike Adams, the Health Ranger, warns about how failing to close our own nation’s borders amid the Wuhan coronavirus (CoVid-19) crisis will only increase the fallout from this global pandemic:
A far cry from what’s happening here in the United States, Italy is taking swift and formidable action not just to protect its people from the Wuhan coronavirus (CoVid-19), but also to take care of them with mortgage relief. After all, it only took about two weeks for the virus to sweep the region, infecting nearly 10,000 people that we know of in the Mediterranean country.
Meanwhile, President Donald Trump has only two things on his mind: propping up the stock market and boosting his own ego. The Commander-in-Chief isn’t even taking the Wuhan coronavirus (CoVid-19) seriously, and is the only contender in the running for president in 2020 that refuses to cancel his pep rallies.
Unlike in Italy, Americans aren’t being told to protect themselves with masks, nor are they being formidably advised as to how to keep themselves safe. In fact, those who try to prepare for the worst are actually being mocked by the mindless masses as fools, much like how the throngs of scoffers laughed at Noah as he prepared the ark for the storm that he knew was coming.
Because Americans tend to be proud people who feel as though they’re somehow exceptional, there’s this pervasive sentiment across our land that it could never happen here. Jokes about the Wuhan coronavirus (CoVid-19) persist, even as schools shut down, grocery store shelves run bare, and mandatory lockdowns spread from city to city, and from state to state.
Regardless of how serious the Wuhan coronavirus (CoVid-19) actually is, the engineered response to it is what matters. And that response is one that’s rapidly leading to total economic failure, whether Americans want to acknowledge that fact or not. The question is: Are you ready for what’s inevitably coming?
For more related news about the Wuhan coronavirus (CoVid-19), be sure to check out Pandemic.news.
Sources for this article include:
Tagged Under: China, containment, coronavirus, covid-19, disease, finance, global emergency, infection, Italy, lockdown, mortages, mortgages, novel coronavirus, outbreak, pandemic, payments, risk, SHTF, suspended, virus, Wuhan, Wuhan coronavirus
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