Front page FT 04/10/10 The long Hangover

Ok good news we ARE NOT THE MAIN FRONT PAGE STORY bad news we are on the front page masthead with the title

Ireland: The long hangover
See link

ft.com/cms/s/0/d7bcff58-cf1c … ab49a.html

I fixed that for you Richie.

I fixed that for you Brian

XX

Can someone explain to me how a deficit correction of approx 10.3B over four years is going to bring down 19B excess spending to 3% of GDP? Even assuming that the tax take doesn’t get any worse, those figures don’t make any sense? They’ve already stated that growth isn’t going to get us out of this so where else is the money going to come from?

It was the IMF that came out with the 10.3B figure. The deficit is publicly known, it’s not top secret information, I must be missing something.

The cousin of the magic money-shitting fairy, the magic export-led-recovery-shitting fairy, is going to make us all rich again. That and the knowledge economy which will have ex-Dell workers make dingly-dell computers to put on every child’s desk. The raise in height will reduce back-related illnesses and we will save pounds and pounds from the Health Service budget, once we can get close enough to the event horizon to scoop them out.

I thought it might be somehting along those lines alright, thanks :slight_smile:

It’s not.

But further cuts will further depress GDP hence not helping hit the target.

we’re chasing our tails.
We’ve signed up to a legally binding commitment to paint our arses blue and shite gold bricks…
so the fiction goes on.

Ze Germans want their pound of flesh.

I’m sorry Barney, we’ve already had that answer… I’m going to have to pass it over…

https://img707.imageshack.us/img707/5639/20702150.jpg

Eh…not if the cuts come in sectors which dont produce wealth.

Even all things being equal, no depressed GDP, no drop in the tax take, the numbers still don’t add up.

Class. Kudos needle, for once! :smiling_imp:

  • Confidence!
    Correct, number 7.
  • Iceland!
    Quack-quack-oops. I’m sorry, the correct answer was “Iceland!Iceland!Iceland!”…

FUCK ME!!!

I’m taking a photo of this post… XD

Replenishing the Taxpayer’s Trough is the only priority. For this the ECB lifeline must be maintained. To achieve this the bondholders must be made whole. Therefore the private sector PAYE taxpayer must bend over.

This is all ye ever need to understand.