The Money Merry Go Round

May 1, 2011

According to the International Monetary Fund’s latest report, practically every developed economy is in debt. So everyone is in debt to someone else which is exactly the way the financial wizards of this world want [Read More]

Bank Debt vs Sovereign Debt: What’s the difference?

February 16, 2011

[youtube]http://www.youtube.com/watch?v=7-cLDKl8XhI[/youtube] Kevin O’Rourke, Ronan Lyons, Constantin Gurdgiev & David McWilliams discuss Ireland’s debt. This video gives a really good explanation of why it is so important that we know the difference between them and why [Read More]

Default, the EU and what’s next

February 16, 2011

In this 4 minute video Prof Kevin O’Rourke & Constantin Gurdgiev explain what happens after we separate what we as a Country owes from the debts of the privately owed Irish banks. [Read More]

‘New Vision’ tells of public anger

February 15, 2011

New Vision tells of public anger PAUL CULLEN and MARIE O’HALLORAN INDEPENDENTS: A GROUP of Independents standing under the banner of New Vision says they could win seats if the anger expressed by people on [Read More]

Political consensus behind disastrous decision Kenny, Cowen & Gilmore

February 14, 2011

The bank guarantee represented the most spectacular single transfer of wealth ever in the history of this country, from society at large to a financial elite. The elite being depositors of more than €100,000 (depositors up to €100,000 had been guaranteed previously) and bondholders who had lent money to the banks. Even if the banks had not collapsed subsequently, it was still a huge transfer of wealth because of the insurance it gave the big depositors and bondholders. [Read More]

Web designer refuses to cringe in the face of adversity – Irish Times

December 6, 2010

IT WOULD be a shame to waste a strong iconoclastic streak, wouldn’t it? Eamonn Blaney uses his to excellent effect; badgering, doorstepping, blathering full belt to whoever will listen to get where he needs to go with his new venture – Cringefactor.com.

A few years ago the Howth native left, rather than waiting to get pushed from, his €110,000 a year job. He decided to upskill and headed into Trinity College Dublin to do a masters in business administration. Blaney spent €25,000 of his own funds, got his masters degree and re-entered a working world of . . . very little – no head honcho job, few prospects of one and faltering hope in a radically different work environment to the one he had previously inhabited. [Read More]

TD’s had better think before voting.

December 6, 2010

As we get closer to the financial and social endgame resulting from Fianna Fail and the Greens governance are country, their incompetence and lies are laid bare for all to see. Those of us who were advised to go and commit suicide by the then leader Mr. Bertie Ahern and didn’t, can see their very worst nightmares coming to fruition. We knew it was going to be bad but we could never have conceived just how bad it has become. And this is really just the start.

In a speech in 2007 Mr. Ahern promised that in a fall would reduce the gap between what we spent and what we took in taxes than revenues. He lied. Mr. Cowen, who was then the finance minister, simply went along with what ever he was advised to do by those total incompetents in the Department of Finance. The big accountancy and legal firms operating in Dublin who oversaw audits of the major banks and financial institutions, and charged millions for it, reported that everything was okay, these companies also lied. Full article on www.EamonnBlaney.com [Read More]

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]

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