This article confirms my suspicions about the people who have power and influence in this country. They seemed determined to enslave the population to debt and working poverty. Either the people wake up very,very quickly or we’ll be in the same sinking boat as the US. Of course the fecker who wrote this article will have bought all the life rafts before the good ship Ireland sinks. Feck him.
While I doff my cap to Mssr. O’Brien and his entrepreneurial success, I find it hard to take seriously a lecture on how either the real economy in, or the fiscal position of The State is solid from someone who lives in neither.
Mr. O’Brien lives in Malta and has a reported net worth of some €2.2bn. Don’t get me wrong, I don’t begrudge him a moment of Maltese sunshine or a cent of his gross earnings.
I can not seriously, for one second, believe that he has any understanding of the reality on the ground for Mick and Biddy Public as they wrestle with the levels of price inflation that exist here. How they struggle daily with the deficits in infrastructure; be it transport, health, eduction, utilities, or how people on income from the minimum wage up to middle level earners have become trapped in the consumer orgy of the last number of years that exploded house prices (and yes, they were ALL adults and willing participants at the orgy).
The constructive analysis from “the younger economists” has been writ large for most of this decade, they have descented and yelled “The King is Naked” pointing out the vacuous nature of the Celtic Tiger boom. But as one of their number recently pointed out, that was seen as unpatriotic.
While sentiment is a factor, so too is facing up to the truth. In the face of well funded vested interests with access to all levels of government (not to mention the government itself), spinning like whirling dervishes, running around like Cpl. Jones from Dads Army, telling us to “Don’t Panic” and that everything is fine, it is important to create a sense of reality, otherwise we will just end up rearranged the deck chairs on the Titanic. Yes, Ireland plc will continue. Yes, times are are about to be harder. Yes there will ultimately be an end to the down turn. Yes, house prices will collapse. Yes, many people will loose a lot of wealth. Yes, there will be opportunities to make money. Yes, there will be personal suffering and No, Ireland is not overly well placed to deal with the next few years. Yes, we did blow the boom.
…let’s hold your horses there for a moment Blue Horseshoe (pun not deliberately intended ) while we remember the same “entrepreneurial success” of the guy who you are doffing your hat to in this rainy country,
is the same “entrepreneurial success” under investigation of the Moriarty Tribunal relating to alleged payments made to politicians for certain unethical favours (e.g. possibly a mobile phone license).
This type of “entrepreneurial success” stinks and reeks of the same type of Galway Tent nonsense and cute hoorism that IMHO needs to be wiped from this country.
I’d rather be doffing my hat, nay I’d lay my hat on the ground, to help a Kerry Toad, make his way accross the route of the Macroom bypass every day 'till it be built (which could be a very long time) before any doffing to this fellow!
Except if you decide to fuck off to Portugal, or Hungary.
ARW, completely agree with your sentiments. Of course, very clever of the IT to choose Quinlan, Quinn, Lynch and O’Brien - all property magnates - to prescribe solutions to our woes.
Found it all a bit worrying. What if they get their way?
Bernard McNamara next week??
O’Brien actually mentions Bernard McNamara (as well as a number of other) as somebody the government should turn to for advice on how to weather the current economic issues. I can only imagine what he would advise - I have a vision that instead of Father Jack in the corner shouting “drink”, it would be Bernard McNamara shouting “bailout”, altough maybe that is a role for country tom.
A consortium led by property developer Bernard McNamara is to pay €412m for the site of the former Ringsend glass making plant in Dublin
McNamara to pay €288m for Burlington
Thats nuts! peanuts like
Ahhhhh, that article says the Dublin Docklands Development Authority owns 26% of this project, is the DDDA some sort of Government organisation, semi-state or quango. Have we, the tax payer paid a part of this crazy price. I am not sure what sort of an organisation it is but the following org chart is on its site
Every industry in Ireland should be regulated into a state duopoly and everyone in Ireland should be awarded a licence in dubious circumstances.
Then everyone can amass a €2.2 bn fortune and fuck off to somewhere nice like Malta to avoid paying tax on it, while jetting in an out to spend time in their various mansions while taking the utmost care not to spend more than 182 nights a year in the country.
Sounds like a plan.
Its becoming clearer and clearer that the Tiger was a scam perpetrated by a wealthy clique who have made out like bandits on the back of a younger generation who will spend the next 30 years funding their retirement, be it in Malta, Marbella or wherever. Anywhere but here with the rest of us.
The only potential beneficiaries from the proposals outlined by Mr. O’Brien above are members of his own social circle. His solution is for the State, to which he contributes nothing, to pick up the tab on behalf of his mates who were both greedy and stupid enough to believe the hype that was regularly printed about them in the same media outlet in which his article appears above.
What right do they have to lecture any of us about whats good for this country when it is the establishment, of which they are a constituent part, that has cheerleaded us into the current impending financial crisis?
Mr. O’Brien and his cronies are a part of the problem, not the solution.
This article is muck and should be consigned to the toilet where it belongs, period
Denis, I wish I had the ‘confidence and self belief’ to go out an borrow a shitload of money and then spend the next 40 years working to pay off some horrible shoebox in the middle of nowhere, to make some other old fart like you a bit richer - but I don’t.
…and they are now looking for one final pay-out before riding off into the sunset for good.
With a lot of weight tbeing thrown behind the concept, is there a real possibility of a bailout? A few months ago I would have thought no, not a chance but the more I read the more I’m starting to get an uncomfortable feeling that it MAY become a reality. It will, of course, be masked as a way of protecting the economic stability of the country against those ‘dark’ outside forces. Securing the future prosperity of the country for the youunger generation. The usual b&ll%cks…
And if they DO manage to pull it off it will be the greatest financial stroke in the history of the state.
thankfully there is no money in the kitty to fund any such madness
unless they raid the NPRF…could they, would they?
12 month pay freeze for senior civil servants ? surely not ALL of them though Denis ?!
Dennis has really taken a bath on INM shares. I also seem to remember him buying a shed load of BOI shares a few years back. In fact wasn’t he chairman at one stage? He had a holding of 4% I think. I wonder did he offload the BOI shares? IF not, then, ouch!
This will be the final straw. If the Civil Service was corruptible, then it will lead to a terrible reckoning. According to Sam Smyth in today’s Indo, le tout Dublin talks of little else these days. But, like Sherlock Holmes, we need to wait for Moriarty to move first.