Lenihan says economy stable as data shows renewed weakness

IMF says “Europe will keep bailing you out for the forseeable future but keep increasing taxes and making cuts as it’ll make our job more palatable for Joe Public when we visit with our big chopper lads” :open_mouth:

the pin is full of doom !

Irish aberdeen

Show me a politician and I’ll show you a liar especially from that particular party, they have done nothing constructive for this country in their decade plus tenure except bankrupt us.
In the three periods since the foundation of the state where we have come close to bankruptcy they have been in government.
Full of doom no, realist yes but if you’re happy to be fed a line of shite and it helps you to sleep better being ignorant by all means feel free. As for the rest of us I think we may continue to question decisions and announcements made to the positive when we know different. 8DD

Lendahand has been makeing it up on the hoof since Sept 08.
The consequences are coming home to roost now.
A credibility chasm has opened up under him.

Why are people of the opinion the IMF have any interest in helping us?
All they are is a soveriegn loan shark…

There interests are to ensure we can pay back as much of the debt we owe as possible.
Of course they agree with the course taken by the gov… because the gov is putting the demands of the people we owe money to ahead of the needs of it’s people.

No doubt this headline will get disproportionate air time in comparision to other less favourable stories for the gov to spin.

I dont think the IMF are interested in helping us but they are recognised as being the lender of last resort when all else has failed and Europe has gotten bored with our gombeenism.

Can’t see Europe getting tired of us… I just see them ensuring they take their pound of flesh.
And being honest, I’d happily accept that considering the inability of our plebs to run the country.

Edit: An arguement I often see against this is how they were at fault by reducing the interest rate when we didn’t need it.
That to me is like the child blaming the parent for leaving the drinks cabinet unlocked!

Why do people keep up with this line.

These plebs are being kept in situ and supported by the EU defacto.

There is no where to run, no where to hide in the super state.

negative data = positive outlook


From the IMF, 2006

imf.org/external/pubs/ft/scr … r06292.pdf

Fuck the IMF.

Look, someone found the upturn in the ‘W’-shape!

Nah, I think you’re wrong Grumpy, we get fucked by the IMF which is no change as we’re getting fucked by the current shower who smile and tell us we’re at the bottom and things are looking more positive as the markets increase the cost of borrowing and our ratings are lowered.
So whats gonna end up worse the current poison or the medicine to fix it?
Because if we’re goona fix it we have to go all the way and change the very constitution on which FF is founded and the rest of us worship when we’re told otherwise we end up repeating the definition of madness which we are so accustomed to doing in this country.

Wheels of War spin spin spin!

I must admit that I was unaware we were having a recovery. Why was I not informed of this amazing event?

“Ah sure, we’re doin it by order of importance. First we’re gonna start with the yanks, de Brits the Chinese etc an then we’ll get ta you Paddy”. :wink:

In Ireland, Dangers Still Loom
Today’s Economist

Is the global economic recovery still on track? The mainstream view is: yes, without a doubt. But increasingly, there are reasons to fear another financial disruption — particularly given the latest developments in Ireland.

The consensus among officials and most of the international banking community is that the global economy has stabilized and is now well down the road to recovery. The speed of this recovery is proving disappointing — as seen in the revised second-quarter growth estimate for gross domestic product in the United States, with annualized growth down to 1.6 percent. But, according to this view, easy monetary policy and still-loose fiscal policy around the world will keep sufficient momentum going.

Never mind that Japan, the United States and most of Europe are running unsustainable fiscal policies, while the Federal Reserve chairman, Ben Bernanke, is fretting over how to prevent deflation with a limited tool box, and Jean-Claude Trichet, president of the European Central Bank, is calling for more fiscal tightening. To enjoy this rosy global picture, we are also told to ignore the plight of heavily indebted peripheral euro-zone nations still suffering from uncompetitive wages and prices, and concerns over default, that strangle their credit markets and growth.

An essential part of this relatively positive view is that the euro-zone economies have stopped the series of “financial runs” that, earlier this year, took intense market pressure from Greece to Portugal and Ireland and threatened to move on to Spain and potentially almost everywhere else (except, presumably, Germany). A collapse was averted in large part by the euro-zone countries’ agreeing to rescue one another — meaning that the Germans agreed to support Greece and other weaker countries — with some additional cash resources provided by the International Monetary Fund.

However, let’s be clear: Europe’s headache remains large, and this should concern all of us. Just look at Ireland to see how misunderstood and immediate the remaining dangers are.

economix.blogs.nytimes.com/2010/ … till-loom/


Good article. Some of the comments are quite good too.

Except this one:


Yet again ‘What goes Up’
brilliant, just focking brilliant :mrgreen: