Dec
15
To read the full article, please click on the Headline above.
The ‘Associated Loans’ are the amount of money that was lent to borrowers which was secured against the anticipated increase in the value of the underlying asset! The formula used to calculate the anticipated increase in value must be the same as used to calculate the length of a piece of string….
Dec
08
Why the public outcry over what will be the ‘most draconian’ budget in the history of the State ? The reason I ask is assuming that it does make it through the Dail vote all that it will have achieved is getting an additional €4 Billion into our public piggy bank. ‘ €4 billion, that’s an enormous amount of additional revenue” ? I hear you cry. It is enormous but it is not nearly enough. Unfortunately, since I pointed out in a previous posting (economic-civil-war-revisited ) the actual amount of our debt has increased by a further €8 Billion, simply because the Government did not act back in February when they knew the scale of the problem. If that’s not bad enough, next years spending will increase by an additional €5 Billion compared to this year !
Sep
08
So there it is, we will have an election in February. This has been my contention for months and now Dr. Jimmy McDaid TD (FF) stated today that the next Government will be a Fine Gael coalition and that it would be in the ‘interest of the Country and of Fianna Fail’ to go to the Country in February. Of course, Minister Mary Hanafin stated almost immediately that the Government will run its full term. Some chance.
Jul
17
he government are proposing to reduce public expenditure by 5 billion this year. Far be it from us to interfere in their eight week holiday, so we are going to have to wait until December before they start implementing any of the required cuts. Between now and then, this means that we will have to borrow an additional €8,125,000,000! Can somebody please tell me why we have to wait until December to have a budget?
Feb
27
Well, I certainly hope so. I was just listening to Pat Carey the government Chief Whip on the radio conceding that it may be necessary to implement a third taxation rate! My goodness, what an absolute stroke of genius. If you look at my previous post you will see that I have suggested not just a third tax rate or possibly 15 or 20 Incremental tax rates. Now it transpires that Labour have decided to support the same policy as have Fine Gael.
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