Waking up to reality of an economic nightmare

irishtimes.com/newspaper/opi … 08965.html

Great response LI. 8DD

There’s no way their sale would raise enough to cover the deficit, not even for one year and even if it were concievable that it might ordinarily, it certainly won’t in the middle of a global econmic meltdown firesale fill-yer-boots bonanza.

Eh, it’s not that it would cover the deficit, it’s just an intrinsic part of what you get when you sign up to get the IMF rogering some so devoutly wish for…

Fuck that. We’d be better off letting Joe Higgins run the country for 5 years than selling off life’s essentials to IMF goons (who let’s face it will most likely turn out to be our own home grown tax exiles and similar parasites).

Exactly what I have been saying re opening a German bank account…is this getting back to the Euro Wedge on the Edge thread?

Yes. I agree. I was just nit-picking on one small point.

Thus you and your family have now become part of the elite.

Seriously though, a big problem in Ireland is that people don’t distinguish between people who have earned large amounts of money through their own steam and those who earn it through corruption and political connection. The difficulty is that they demand their pound of flesh, not of the subgroup of politicians and business people who have availed of ill gotten gains, but of the entire group.

I often think what would happen if Warren Buffet was Irish and set up a hedge fund to short Irish banks. He would have made a massive return while the likes of Quinn, Fitzpatrick etc would have lost their fortunes. Would he have been praised for his acumen and risk taking? Would he hell. The people of Ireland would blame him for the economy collapsing and then demand that he pay it all back in a “windfall” tax because sure he didn’t really intend to make that profit now did he?

So we have this situation where more often than not the people who actually are good at business are pilloried as being part of an anomalous elite establishment, thus deflecting the fire away from the real targets.

Thus, anyone who decides to seek greater security for their nest egg is not just a prudent person, but a traitor to the country.


What’s the latest on Steven Seelig anyway?
We were told he’d be joining NAMA in May after retiring from the IMF - and maybe he did, though it’s difficult to know as he hasn’t said anything AT ALL since then, maybe never even came here, though no doubt is drawing down a fat salary. And for what exactly?
Don’t remember who Seelig is?
He’s the spoofer who described the government’s LTEV plan as ‘masterful’: “It is both sufficiently specific and sufficiently vague to allow appropriate flexibility. I hope you can retain this language,” he spoofed in an email last year to the DoF.
But you can bet one thing: there would have been nothing ‘sufficiently vague’ about Seelig’s employment contract with NAMA.
Oh no.
You can be sure that was written to ensure NO FLEXIBILITY should the government find they were a bit short and unable to pay him.

I think maybe a lot of people are looking at this the wrong way round.

It’s clear Ireland has been and continues to be beholden to IMF style policies for 2 years now. The deployment has been brilliantly phased and cloaked through the use of the incumbent Government (not a failed F Gov replaced by Opposition who would bare the brunt as was expected, could happen to a degree but I think its too far now for that scenario to stick). Fianna fail have been demoted (and all to willingly) to nothing more than a PR outfit to make the sell and take the flak. I said it before but once the Bank guarantee happened we’ve been without Government. Peter Mathews made it clear that IMF officials have been inside Government building long since past.

This would appear to have been the acceptable necessary approach to take for a state within the EU.

Officially the IMF are not here, but they are. We are living through the IMF workout (sell state assets, work for welfare just another stage of the play). Its seems to have escaped the overall debate as we greet each new twist and turn, carefully presented to the population but not all at once.

It’s been a very clever tactic and so far it worked. No riots. This must explain the darling treatment of a most hated man in Newsweek (twice is it now?) and the abject performance of the opposition parties. They’ve all gotten with the program fingers crossed behind backs and IMF fingers up holes.

Maybe its us on the inside who can’t understand why the world thinks Ireland taken great austerity measures simply because we haven’t twigged the game at hand, maybe we have missed this little gentle fact. Recalibrate your retrospec’s and tell me it’s not the case that it’s been a IFM-softly-softly+EU-big-brother-ECB approach. Ireland is the sovereign Lehamans of the EU. It cna only explain the “forbearance” and hugely secretive maneuvers, we are one serious bad egg that if explodes could destabilize the entire EU currency project. I don’t believe the politicians are acting the way they are because that is what they want to do, take it handy, I believe they are being allowed as a trade.

It makes sense of somethings that simply can not be reconciled on the surface, especially when you reduce and rationalise down. it also can’t be explained by a few spin and PR companies as important as they are they are but enablers.

Eventually though, wise-guys do get “called for”.