Tourist sector sharply shrank

An Italian financial daily has reported today that people cut expenses for beach holiday this summer. But on Sunday people are crowding beaches which become deserted during weekdays. Although the price of hotels decreased by 40 percent, same Italian towns as Venice, Florence and Rome lost a lot of tourists from 2007 to 2009. Of course unemployment rate rose in tourist sector too. The weakness of U.S. and European labour market, which limits wages and threatens to erode consumer spending, will prolong the recession.

Black Knight Navy members, who Stefano has shown on his blog, are going swimming across the see twice a week.

The situation remains uncertain

As matter stand, most investors want to see signs of recovery. Althought there is more money going in to the market than coming out, there aren't signs of stabilization and unemployment would may rose again. While some companies last week were forecasting a earning decrease in 2009, the German group Arcador, where there are 43,000 employees, decided to go bankrupt. G-8 finance ministers said yesterday after a meeting in Lecce, Italy, there are “signs of stabilization,” though “the situation remains uncertain.”

Meanwhile North Korea said any U.S. effort to enforce international sanctions over the communist nation’s nuclear program would be considered an act of war and be met with military force. The sanctions also call for new restrictions on loans and money transfers to North Korea. We have to think what theese global news mean for the market.

This morning while I was running I saw an old Italian war ship and I took a photo. You can see the old ship in the picture above posted. On the other side of the sea harbour there was an Italian aircraft carrier. Its photo is down here.

“We’re not out of the woods”

It isn't a matter of pessimism or optimism. The 5th of May 2009 I posted something about the rise of the Nasdaq index which generally indicates the major trend in the global stock market. Actually, during the last two months the world's stock market grew more than forecast. For example, the Standard & Poor's 500 index rose by 40 per cent since the March 9th lows and a Goldman Sachs report shows that it, which reached last week the level of 940, won't increase within next six months. Although, China and other emerging nations didn't increase their demand of raw materials, we saw the growth of price commodities as crude oil $ 69 and copper $ 230. We need to understand the behaviour of investors considering the decrease of world's consumer goods and the growth of unemployment rate. U.S. payrolls fell by 345,000 in May, less than forecast, while the unemployment rate hit a 25-year high of 9.4 percent. Meanwhile, here in Europe, Irish unemployment reached 11,8 percent.

In this perspective, actual rise of prices is probably related to an irrational behaviour of investors, who think that stock market has reached the bottom. Next month we will likely see the beginning of the summer drop (traders sometimes say "sell in may and go away"). As soon as the slight decrease of stock markets is remarkable investors will see good shares to buy of course. In my opinion the overall trend since March 9th lows should be up to sideways. We will see a horizontal trend with a result of the prices traveling between strong levels of support and resistance. Most experts said that the latest rally may be a “trader’s rally” instead of a bull market. They added “We still have more problems to be worked out.”

 

The photo above posted shows the delivery of new cars in Civitavechia's harbour.

Distruction of gardens and old houses

After the distruction of eucalyptus trees, which Stefano posted on his blog the 29th of May 2009, our town is going to suffer another damage. Civitavecchia's people are dealing with a new problem because local politics want to built some horrible blocks of flats on a small green area. There are some old nice houses and a lot of gardens with lemon trees in this small urban area which is situated in the middle part of the town. Politics, who are plannig to destroy this part of the town, aren't interested to sustainable development of urban environment.

In this area of the town there are some very nice and old houses which were built in 1920s. Their architectural style clashes with new big buildings. Moreover, If we build new big blocks of flats, the people in this small part of the town will increase and parking places and other public utilities will be the same.

If Civitavecchia's people don't appeal against the major's measure this small part of the town, which is called "La Nona", will be destroyed. A lot of local free associations have already appealed against the major's measure.

Civitavecchia's landscape

In theese days local politics of Civitavecchia, where I've lived with my family since 1991, are trying to attach importance to the surronding landscape. I posted an image which gives a picture of the territory above mentioned. It is now in a wild state. Local politics suddenly think it may be used for biking, running, riding, trips to the mountains, archaeological tours (there are some Etrurian ruins), etc. It's a great idea. Fortunately they don't try to build something or detroy this beautyful landspape.

Nowadays, economists and ecologists say that landscapes, which are a part of global environment, are considered as commodities, goods and rights. We have to shrink the environmental impacts of urban areas. Although global environmental problems are typically considered part of national and international decision-making, it is now much more important to consider the environmental impacts of urban areas, because a rapidly growing proportion of the world's population lives in cities.


This week I've found a terrible environmental crime in my town and there's a personal liability too. I've posted the following image of this environmental offence which consist in water pollution. But I think that our European legal system concerning criminal sanctions linked to environmental offences is not certain and dissuasive. I hope politics will decide to develop environmental law to protect the equilibrium of natural system and human health.

Panic selling

Most people say that stock market has reached bottom. Although it has seen a strong rally since the March 9th lows, it is still in an overall bear market trend. So we can forecast that the market, after a small decline (I hope without panic selling), can move higher. Therefore, the Standard & Poor's 500 Index, which consists of 500 stocks chosen for market size, liquidity, and industry group representation, will slightly try to incease its volume surge. The Standard & Poor's 500 resistence level of 935 - 945 would may mean a rise at 1045.

We can all have the same information about the world stock markets, but people act differently on the same information. Anyhow, it isn't easy to distinguish something that is signaling a real breakout from a new trend.

development of the green economy

Halfway through last year, while the Standard & Poor's 500 Index was falling 10 percent, the green energy shares rose 30 percent. And during the two "panic selling" bottoms of October 2008 and March 2009 all the shares linked to renewable energies climbed easier than the Standard & Poor's 500 Index. In this perspective, most people think that the economic phenomenon called green economy will gradually cause the new speculative bubble of global stock markets (http://personalfinanceandinvesting.com/).

Although some green energy shares are actaully overweight I think that the environmental sector of the global economy will increase. Nowadays United States and Spain are the most important makers of renewable energy in the world. Next year a new big photovoltaic station will be built in Australia (Mildura). Four photovoltaic stations will begin to produce renewable energy in the U.S. Mojave desert in 2011. Moreover, there are important projects about the production of photovoltaic energy in South Afrika (Upington) and Israel (Negev desert).
The UNDP report on green employees shows that the jobs linked to sustainable development and "green economy" in the world are 2,3 million of which 670,000 jobs in photovoltaic sector only. The development of "green economy" may increase the employment because it needs technicians, installation firms and designers. Of consequence, the growth of employment, which improve consumer spending, may give strenght to the global economy.
In the U.S. stock market there is one of the most important company which makes photovoltaic panels. The name is First Solar and since May 2008 its share price have fallen from $ 317 to $ 130. General Electric and the Danish company Vestas are the world leaders of the wind turbine. In the end, in the green business of stock market there's the Swedish company Abb.

Chinese gold reserve

A survey of Xinhua News Agency shows that chinese government increased the gold reserve by 75 percent from 2003 to 2008. The chinese gold reserve has grew during the last five years from 600 to 1054 tons. Other asian countries increased their gold reserves too.

Of course, on the basis of the law of supply and demand, from 1999 to 2008 the price of gold rose from $ 250 to $ 900. But recently in the first three months of 2009 the price of gold fell. In a picture of financial volatility, investors think buying gold may be interesting against the uncertainty of stock markets. Moreover, some asian governments will probably decide to increase further their gold reserves.

Nasdaq index will probably rise next weeks

After the double bottom in October 2008 and November 2009 charts show that Nasdaq index will rise next weeks. Although experts don’t see a trend changing we can analyse others interesting signals in the stock market. Nasdaq index begans to rise, comodities prices have grown and stock markets of emerging economies have revitalizes. Under this perspective, the resistance level of 2050 of the Nasdaq index would may mean a changing trend in the global financial markets. In the past others stock market indexes like S&P 500 and Dow Jones Industrial followed the Nasdaq index growth.

A lot of economists think that a strong increase in the global financial markets would cause a problem concerning inflaction control. The fluctuations of stock markets, that always anticipate all financial phenomenons, will probably give a danger signal linked to growth of the global inflaction.

old toys

I've find some old toys (small cars). This website is helping me to sell the old toys http://www.subito.it/vi/5610314.htm
It.s unbelievable: a lot of people have asked the small old cars.

October attack

Stefano have decided to follow a marathon program and I'll help him. He is going to run the Florence marathon this year. So we're going to run in Montalto the first of October and I've posted an image of the enemy headquarter.

Meanwhile, Long John is in prison: he didn't celebrate the first black knight anniversary. The black knight committee decided two weeks imprisonment. In the other picture You can see the small window of the isolation cell: the executioner oversees it.

the first black knight army anniversary

Civitavecchia (seventy kilometres North of Rome), the 16th of August 2006: the anniversary of the black knight army. We celebrated it yesterday at eight o'clock. Do you see the image of the italian members with their wives at samarcanda restaurant? Well, in the middle of the table you can see the black knight flag.

Short holiday in Naples

Now I'm on holiday in Naples for five days. It's too cold here, so I've run under the big trees of the royal park.
We've visited the museum of palaeontology (you can see two images).

My daughter's dogs

I’ve promised to post a photo of my daughter’s dogs and Ihatetoast has asked me “where are your dogs?” You can see that this kind of dogs don’t need a garden. They’re toys.

the next battle

Probably we'll catch another loot next sunday: the 7th of May 2006 we'll go to Rome for the next battle. meanwhile we have run 22 kilometres and 600 metres last training.

In the pictures you can see the Roman warriors and the ruins of the old imperial town. The enemy doesn't Know the strenght of the black knight army

The mercenary runners

This morning three black knights have gone to conquer Tarquinia, 11.6 kilometres running very angry (like young camels). Everybody knows that the members of the Italian legion have become mercenary runners. of consequence Sir Stefano has led the black runners to catch the loot. he will post the picture ( 3 bottles of white wine, pasta and 4 nice glass cups) and the race report.

I couldn't eat pizza yesterday but after the ordeal I've had a South Italian Easter cake which is well balanced (carbohydrates and proteins). The name is "pastiera" and it holds a lot of Mediterranean tastes: citron, orange, cottage cheese, wheat and vanilla. My sister has cooked the cake last week and she has sent it from Naples. You can see the Easter cake in the image: the Easter day and during the spring we always eat this old traditional cake. It will give fuel for the next battle: we're planning to run in Rome next week.

carbohydrates

My daughter Simona would to post her drawing. You can see it in the image.
Tomorrow there's a race around the town (12 kilometres), so we've decided to eat pizza this evening. A lot of runners like eating pizza. I’ve read on a sporty magazine that runners sometimes eat this international food the night before a race.
Although pizza is a well balanced food, you might cook it with vegetables on top if you don’t want to eat proteins before a race. As a rule Italian pizza has to have some fresh cheese called mozzarella on top. It isn’t easy to cook and the baking is important too: Italian people like cooking pizza in a wood-burning oven.

Now the black knight has carbohydrates: he can fight against the donkey runner. We hope to find it there tomorrow. Stefano Will post the race report.

There weren't victims

Yesterday I ran 1 hour and 45 minutes along a field in the Southern part of the town. While I was running near a farm, I suddenly saw four black donkeys. Unfortunately the donkey runner wasn’t there and There weren't victims.

Now I'm 45 years old. Today is my birthday and I've enjoyed with my family.

surrondings

Sorry for the expression used about the donkey runner (do you remember last post the abstinence of the young camel? Stefano advised me this expression and it isn't an italian literal expression) but we were very angry: If  Stefano and I met the donkey runner next time we'd humiliate him. Thanks to the clever executioner for his contribution.

This morning I'm going to run on my own (Stefano's going abroad on holiday with his family) and I've chosen the small green hills behind the town. You can see these hills in the image. In this region the tipical country house is small and white and yesterday I and my daughter built a model of a typical italian country house. When I go running I sometimes see farms with these white houses. I show you an image of the house model.

running on soft roads

I sometimes think to run on soft track. More and more runners have decided to run in country roads or natural parks because they don't like running on hard asphalt roads.

Yesterday I decided to run outside the town near a small river with thick mediterranean woods (1 hour and 5 minutes). I don't like running on my own but I enjoyed last training because the valley is beautifull and the country road is soft. Then the distance follows the course of the small river, consequently it's a level road and there aren't hard up hills. Maybe, running on soft roads will do backbone good. Naturally we can't run there when weather is rainy.

In the two pictures you can see the small river surronding the town in the northern part and the final rush of the last Civitavecchia halt-marathon (I'm number 1125). An image of the 3 comuni half marathon is here: http://www.fotosports.it/images/20060129B/02-km2-5/pages/image185.htm