Twitenomics! The economy according to the people of the Internet.

Another week, another flood of economists, from all walks of life, taking to the Internet to let their voice be heard, about this week’s economic decisions.

We start things off with Facebook and the BBC issued a post about Italy’s struggle with the legacy left behind by Berlusconi.  This, as ever, resulted in posts such as Evlogi Taskov who summarised the story with “Pagliaccio!” roughly translating to “clown!” While Michele Rizzo remarked that Berlusconi “is Goblin and We have not Spiderman help…” which is an interesting analogy, although the grammar could use some work. While Bharat reminded us that “he will always be president of AC Milan which is more well to do than Italy…” which given Italy’s further downgrading today, seems to bear an unnerving amount of truth.

Meanwhile, Twitter was full of the economic buzz. Ed Miliband for instance took his character limit to compliment Caroline Flint, MP, call for “energy firms to cut prices for now and to ensure that over 75’s are on the cheapest tariff.” His main opposition, however, the current Prime Minister, David Cameron, was advertising this new “business zone web chat” designed for those with a new type of business model as well as talking about his two day tour of the UK, talking about he economy, which he’d been doing last week.

On the less political front Duncan Bannatyne was dealing with a trouble customer, a Mr Jamesworts who was complaining that his “security/pariking idiot at Fairfield”, just cost him a member. Needless to say he didn’t take it too well and responded saying “if you call my hard working staff stupid I do not want your business.” Richard Branson was using Twitter, though, to share the special projection for virgin money, which, in his words,  “sum up energy &excitement of our new adventure” It will be interesting to see how Virgin will do at banking which Virgin tried to capture in it’s light show in London, wihc Branson mentioned, numerous times.

More importantly, though, self proclaimed business woman Paris Hilton was launching her new “phpurses handbag collection” a move which is sure to take the markets and the global economy by storm! Or maybe not, depending on how you look at it.