Austin Hughes changes tack on ECB rate cuts

finfacts.ie/irishfinancenews … 3486.shtml

There he is in full effect. Comical Austin.

:laughing: :laughing: :laughing: :laughing: :laughing: :laughing: :laughing: :laughing: :laughing: :laughing:

I thought Austin’s gut felt a rate cut coming in the Spring…

So how is your gut Austin?

Distended? Flatulent?

By the way Austin, let me introduce myself, I’m one of Ireland’s leading weather forecasters.

My long range forecast (as always) is for blissful sunny days with light winds and temperatures in the mid to high twenties, just far enough away that people will get the idea that there’s good weather ahead, but far enough off that they will have (hopefully!) forgotten what I said when they’re left standing around somewhere in a blizzard getting pissed on.

The internet can be a terrible thing for long range optimistic weather forecasters like ourselves Austin.

Austin the subprime banker has lots to fear from a recession.

“Should Irish House Prices be rising faster?” - Austin, May 12 2006

finfacts.com/irelandbusiness … 5814.shtml

“No” - me, May 12 2006 and every day since.

Michael Hennigan makes a bizarre and rather snide statement in the middle of the article: ""Imagine the bellyaching of the Anti-EU/Lisbon Treaty types about sky-high mortgage rates if Ireland had retained its own currency! "

He forgets that many people who oppose the Lisbon Treaty also support the EU- up to a point. I’m disappointed to see that Finfacts has lost its impartiality.

(I realize that this is a bit off-topic, but this sniping at No voters is appearing all over the place these days, often completely out of context and is really disheartening to witness. Some quarters would prefer that there was no vote at all.

Seriously that article is worth a read.

Really? - i can’t think of any coherent political group with a record of supporting previous EU treaties who oppose this one.

I wrote ‘people’ not ‘political group’.

Indeed you did - but since the opinions of these ‘many people’ aren’t verifiable, i’m taking a liberty or two. So sue me :slight_smile:

I’ve yet to hear anything other than ‘yes i know the other treaties were good for ireland, but this one is different’ on the anti-lisbon side - and that’s mostly from people who said the same last time.

The Unions and Farmers seem to be heading No this time which was not the case previously.

y’know i almost feel bad for the guy, a career of saying ‘i was wrong’ mustn’t be an easy one.

Not to mention that he completely ignores the fact that if we had our own currency we might not be in this mess in the first place. (I use the phrase ‘might not’ advisedly as I am well aware of the possibility that our bureaucrat-politico classes might have found a way to fuck it up regardless).

Agreed. And you are absolutely right to highlight it.

I want to take the guy seriously, I really do, and then I read something like that.

If being an economist means taking an upward sloping graph and extrapolating it to infinity then we have the best in the world.

I’m pro-EU when the government demonstrates it’s in the same camp as me and gets rid of import duty within the common market (VRT), I’ll vote for the Lisbon Treaty. Simple as that for me. I think the EU is a fine idea pity our shower pick and choose what to implement.

Austin has been paid very well to talk complete shite and (oddly amongst the odd bunch that are Irish economists ) to continually use the Royal “We” when punting on his own behalf.

Finfacts have called a halt to Finfacts giving him any more uncritical airings for his rubbish and fair play to Michael Hennigan for doing his recent series of Austinwatch , a bit like David Lereah watch in the states .

davidlereahwatch.blogspot.com/

“We” are , doubtless, not amused . “We” take ourselves very seriously .

So if it turned out that the Lisbon treaty removed a bit of sovereignty (a claim made by some of it’s critics) then that would be a good thing and a reason to vote for it, since it would reduce the ability of our shower to pick and choose.

It’s a novel pro-Lisbon argument don’t ya think?

Really since the Nice treaty I’ve lost my appetite for these votes. If the result isn’t what’s wanted we’ll just have another vote, so is there any point in voting either yes or no?

I most likely will not be voting on this or any future European referenda.
I don’t much like playing a bit part in a charade that there’s some kind of democracy at work.

So, I’m one voter who would normally be voting yes, but who will probably abstain on this occasion.

Sorry, Off Topic.
Let’s get back on message:

Austin is a plank.

-Rd

Ah… Ireland is different.

That’s mighty stuff to be sure.

You can forgive economists for being wrong about the timing of an event, so what if it takes an extra few months or few years for somethign to happen.

You can forgive them for being a little off in their predictions. If they say interest rates will increase, but we expect them to peak at 3.5, and instead they peak at 4, you can forgive that.

But Austin seems to have lined up so many inaccurate predictions that really you need to take what he said and translate it into the opposite.

What officially is his job?
Is he giving advice to his bosses? if so is he giving the same advice as he gives the public? if so how does he still have a job?

Is his job to mislead he public? Is he telling his bosses the complete opposite (i.e. the truth), in which case it’s obvious that he’s very good at his job, and deserves to be well paid because he’s willing to make a fool of himself in public.

-Rd