Does lenny have a good point to make?

I just finished watching a rerun of the budget special on vincent browne and the interview with lenny at the end. He made the point that the banks (albiet a bad situation) are only costing less than 2billion a year and the real cost thats killing ireland is the 19 billion in the difference between income and spending?
All this banking nonsence is just a distraction from the main point that public spending is just out of control

Odd then that the headline we’ve all become familiar with is ‘Can A Bank Bring Down a Country’ :slight_smile:

@ nikon, see the mistake you made there was believing a single word that came out of the man’s mouth.
Could do better.

Well, first thing, lenny never has a good point to make.

Second - “The banks costing less than 2bn a year” - what’s the 10yr yield again?

That all said, even without the recent FF stupidity of the banks, the earlier FF stupidity of mismanaging the boom would have it consequences.

So perhaps if you interpret what he said as “We didn’t just fsck up with the banks, we fscked up the economy first, then fscked up with the banks”, then he had a point.

What gets me though is the idea that we as a country are just looking for an easy way out. we borrowed so we should pay it back, simple - im not liking the idea of Ireland being portrayed as a country thats always begging or is just too greedy. I guess because that im living abroad now my perspective has changed somewhat, i just don’t like the idea of being thought of as a economic migrant living off other countries even though well i am 8DD :nin

PS - I’m not saying Lenny should be the one to lead the way out but i do think he has a point and if Fianna Fail could just F. off into the history books it’ll be better for everyone.

We did what now?

DOES LENNY HAVE A GOOD POINT TO MAKE
By
BostonorBerlin

Act 1. Scene 1.

Patient : Doctor, what the fuck, you cut off my leg during the operation
Doctor : Yes , well you did have an ingrown toe-nail.
Patient : Yeah, you do have a good point there.
Doctor : Fine then, that will be 300k, plus pension pot contribution
Patient : okay , thats a good point too, where do I sign

Doctor to himself : what a thick piece of shit, I even lied about the ingrown toe-nail, I cant believe they still believe a word I say.
Doctor : Next.
Doctor to his secrearty : Gormley wheres my cup of tea, beeittchh… yeah whos your daddy

                             End.

Epilogue:
Patient had Gangrene but was too drunk to notice.

My reading of things - based on national debt figures - is that for every unit of anger we direct towards the Government about its banking policy, we should be direct two units of anger for its bad management of the economy in the Celtic Tiger years. (I think someone linked to this “How Deep is our hole?” post on my blog already from here.) Just a pity people aren’t as focused when it comes to doling out their anger points.

Simply put, the worst case scenario for “dead money” in the banks is only about the size of the 2008-2010 deficit. We have the 2011-2020 deficit to worry about too.

That’s alot of dead money that could have addressed the deficit and the feckin’ structural problems in the economy (engendered by low corporation tax rates and an overreliance on property pumpers… Lordy, let’s not draw attention to that!).

The deficit, the deficit, the deficit…

Mature European economies run deficits and have a high level of structural unemployment.

Well done Ireland, you’ve graduated.

Pity you did it with the crappiest housing stock known to man with the least amount of square meterage per head of population in terms of dwelling space and in Europe’s least densely populated country.

There’s a deficit alright and it’s not just financial.

Why on earth would you think that being an economic migrant makes you some kind of parasite? I assume you are working and paying your taxes in your country of choice and as a result are contributing your fair share to your adopted society? Unless you are scamming the dole or up to some kind of gombeen skullduggery, you are important to your new country and frankly you are a loss to Ireland. For example, witness Polish immigration to Ireland and Britain of recent years - their overall reputation is one of hard working, polite efficiency and only the most irrational bigots cannot see that.

Ireland will regress as once again as the brain-drain of all its bright, go-getting people emigrate to countries where their contribution they will be appreciated.

But we aint GM were a second hand car dealer and we sold a lemon. Do we risk going out of business or take it back?

my concern with this type of discussion is
A. People shouldnt even be bothered watching this shit anymore, we have had 2 years of it and nothing from it all
B. The fact Brian Lenihan is still given airtime is a disgrace
C. The fact Brian Lenihan is still in office is a disgrace
D. That Vincent Browne (seen by the masses as some kind of decent journalist) let him get away with saying this is a disgrace.
E. BL has no shame and still stands before the cameras
F. People who think they are educated think they understand the situation based on one soundbite, they would be better off keeping their heads in the sand, if everytime they lift them out , they will believe what that FF sack of shit would say and think he has a point.
G. People are still believing what BL is saying

ps the patient didnt have gangrene, the patient was very helthy … the fucking doctor was a scumbag with every pox known to mankind and and once he laid his dirty un-scrubbed hands on him thats when the patient was doomed

+1

TUG,

WTF is this supposed to mean?

Edited to say it’s nothing but Joe Higgins Communist horseshit. Sorry democratic communist horseshit.

  • well said

Excellent rebuttal, there’s a place for you in FF yet, Pill! :stuck_out_tongue:

P.S. Are you Conor “Kebabs” Lenihan in disguise??? :stuck_out_tongue:

Disagree Pill. I’m as capitalist as the next man, but the structural problem is a bloated MNC sector encouraged by low corpo tax and continuing huge financial supports, at the cost of smaller indiginous industry getting bugger all financial supports. You don’t need to be Joe Higgin’s lovechild to agree with TUG on this one.

And by industry I mean making cool new stuff and selling it abroad.

Indiginous companies pay CT at 12.5% also. What are the so called financial supports that you are refering to - grants?