February Exch Returns 2/3 March, poll/emergency budget date

[yoganmahew]

@bodyofevidence

@Rick Flair

You have to say to yourself, we have had four budgets now and each of those has been deflationary and unemployment will rise to 500,000. We simply can’t afford to keep losing that sort of capacity. Firms are failing every day . . Potential is being lost – I can see it in the university students who are leaving the country. I am very clear that continuing the current fiscal policies will destroy the capacity of the Irish economy to recover.’

says Ray Kinsella. Might we start discussing this again
and where would Ray suggest that we get the money to fill the hole, or what services to cut the hole?

Start a thread there Rick.
Give us some alternatives.
Make sure you put numbers on them!

[bodyofevidence]

@yoganmahew

Start a thread there Rick.
Give us some alternatives.
Make sure you put numbers on them!

YM - twas me asking the questions of Raymondo K…not Rick

[yoganmahew]

@bodyofevidence

@yoganmahew

Start a thread there Rick.
Give us some alternatives.
Make sure you put numbers on them!

YM - twas me asking the questions of Raymondo K…not Rick

Sorry, I was responding through your quote to Rick Flair’s question - too lazy to strip you out. I consider it an unfortunate hangover from my days in the front row when going through someone to get to the ball was far easier than going around them

[bodyofevidence]

@yoganmahew

@bodyofevidence

@yoganmahew

Start a thread there Rick.
Give us some alternatives.
Make sure you put numbers on them!

YM - twas me asking the questions of Raymondo K…not Rick
Sorry, I was responding through your quote to Rick Flair’s question - too lazy to strip you out. I consider it an unfortunate hangover from my days in the front row when going through someone to get to the ball was far easier than going around them

and yet, as ingerlaaannnnd saw, brute-force-straight-ahead tactics dont *always *work…

[bodyofevidence]

havent a clue meself…
any informed/plausible suggestions?

[2Pack]

Having published an annual profile on the 17th of december they publised another more granular one on the 2nd of Feb, same grand total of €31.050bn in Receipts.

finance.gov.ie/documents/pub … of2010.pdf

Allegedly

Customs 33m
Excise 604m
CGT 37m
CAT 57m
Stamps 109m
Income Tax 1950m
Cor Tax 131m
Vat 1869

TOTAL €4,800m Receipts.

Yeah rigggghhhhhht

[2Pack]

Fuck Me

Only a slight deficit over "trend" , down €64m on the year to date.

Customs and Excise explain most of that shortfall on trend. Return here

finance.gov.ie/documents/exc … bruary.pdf

Income Tax and VAT OUTPERFORM the projection.

[Septic_Crank]

Explains why Lenny was confident enough to rule out a mini-budget last week.

[Rick_Flair]

@yoganmahew

@bodyofevidence

@yoganmahew

Start a thread there Rick.
Give us some alternatives.
Make sure you put numbers on them!

YM - twas me asking the questions of Raymondo K…not Rick
Sorry, I was responding through your quote to Rick Flair’s question - too lazy to strip you out. I consider it an unfortunate hangover from my days in the front row when going through someone to get to the ball was far easier than going around them

I think this is relevant: progressive-economy.ie/2010/ … uture.html

The reason for his more sober assessment is the trend in private sector financial balances; that is, the growing surpluses of private sector incomes over private sector expenditures. For the OECD as a whole this surplus is projected to reach 7.4% of GDP this year. Six countries, Ireland is one of them, will run surpluses of more than 10% of GDP. In Ireland’s case it is projected that the private sector will earn more than it spends to the equivalent of over 15% of GDP, the third highest of OECD economies behind only Spain and Iceland.

This has been dubbed ‘the paradox of debt’ by Paul Krugman, following the Keynesian notion of the ‘paradox of thrift’. The argument is that, while for each highly-indebted company or individual it makes sense to save, or, in the current climate pay down debt, for the economy as a whole it is disastrous. The aggregate saving reduces final demand, both household spending and business investment and thereby deepens the recession. Incomes for individual and companies fall further, so they repsond by cutting expenditures further, and so on.

And YM, Im coming at this from a layman’s persepective and a fundamental distrust of any macro economic policy fathered by the Republican Party.

[jonny]

What’s the alternative to paying our private debts down and how would that affect the economy?

[yoganmahew]

@Rick Flair

And YM, Im coming at this from a layman’s persepective and a fundamental distrust of any macro economic policy fathered by the Republican Party.

Yeah, me too!

The thing is, I don’t believe the savings rate is increasing as such, I think people are paying down some of their debts. As their debts are excessive, I believe, I don’t see that this should be categorised as saving. As their credit lines are being reduced also and are likely to remain reduced in the future, this means writing down of debt now isn’t going to lead to credit expansion in the future. So when it’s gone, it’s gone…

So this is why I don’t believe the excess savings theory. The only people who are excessively saving are those who always excessively saved - those who can afford to. The rest of the population just isn’t taking on debt at the rates it used to…

[The_Unwelcome_Guest]

Given the results are in, why not continue the discussion there folks →

viewtopic.php?f=19&t=28702