Irelands Economic Crisis Explained, By Robots !

November 26, 2010

The Irish story began with a genuine economic miracle. But eventually this gave way to a speculative frenzy driven by runaway banks and real estate developers, all in a cosy relationship with leading politicians. The frenzy was financed with huge borrowing on the part of Irish banks, largely from banks in other European nations.

Then the bubble burst, and those banks faced huge losses. You might have expected those who lent money to the banks to share in the losses. After all, they were consenting adults, and if they failed to understand the risks they were taking that was nobody’s fault but their own. But, no, the Irish government stepped in to guarantee the banks’ debt, turning private losses into public obligations. [Read More]

Finally, it has come to pass!

November 16, 2010

Well, well, well. It has finally come to pass. We will have to wait until five o’clock this afternoon to find out exactly how the government plans to repay its friends, at our expense. Although [Read More]

The National Debt solution is in our back yard.

November 12, 2010

Auctioning some of our Oil & Gas reserves could get us out of the present economic and social mess yet it has never been considered or discussed. No, we are just been fed the same bullshit i.e. that individual citizens have to bail out the Irish banks, which are failed privately owned companies, even though it was not their fault. Why ? [Read More]

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