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 Post subject: Re: The National Debt
PostPosted: Fri Oct 05, 2018 11:42 am 
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If the 40 billion from the 80s wasn't reduced, who honestly thinks this 200 billion we have now will ever be reduced?!


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 Post subject: Re: The National Debt
PostPosted: Fri Oct 05, 2018 12:56 pm 
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Ultimately some of it will have to be called in as pension funds need to pay out. You can run but you can't hide.

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 Post subject: Re: The National Debt
PostPosted: Fri Oct 05, 2018 5:04 pm 
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Property Magnate

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Epicurus wrote:
Ultimately some of it will have to be called in as pension funds need to pay out. You can run but you can't hide.


Not really. The state can keep rolling this over, as long as it's not growing and interest rates are low.


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 Post subject: Re: The National Debt
PostPosted: Sat Oct 06, 2018 4:50 pm 
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^^^ Mortgageboy is correct, a 10 year bond is payable in 10 years, not before.

This year it is possible that the government will run a surplus. A tax windfall of €1bn from Corp Tax would have put them in surplus but ye olde HSE deficit of €700m :( then drastically reduced the effect of that windfall and a year end deficit of €200m is now forecast along with a €600m surplus in 2019. A quick divvie from AIB would balance the books as it did 2 years ago.

https://www.rte.ie/news/budget-2019/201 ... 6-donohoe/

€200m is of course better than the forecast 2018 deficit of around €1bn in the budget last year.

Nothing can be called certain, in 2019, thanks to Brexit of course. But budget surpluses do influence bond rates.

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 Post subject: Re: The National Debt
PostPosted: Sat Oct 06, 2018 9:44 pm 
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So, allegedly this year we spent (budgeted) more on Health than even Celtic tiger years, and still we spent an extra three quarters of a billion purely by accident?
I can have no confidence in this system, especially when the public health service is so poor, and apparently a poor place to work with lots of overtime etc
If we make an extra billion in corpo tax and just burn through it how will we ever pay down the 200 billion in our lifetime?

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 Post subject: Re: The National Debt
PostPosted: Sat Oct 06, 2018 10:33 pm 
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tea drinker wrote:
So, allegedly this year we spent (budgeted) more on Health than even Celtic tiger years, and still we spent an extra three quarters of a billion purely by accident?
I can have no confidence in this system, especially when the public health service is so poor, and apparently a poor place to work with lots of overtime etc
If we make an extra billion in corpo tax and just burn through it how will we ever pay down the 200 billion in our lifetime?


Well, if the Irish health service is as bad as they all say it is, our lifetimes might not be long enough for us to need to worry about it. :wink:

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Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations
Book I, Chapter X, Part II,


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 Post subject: Re: The National Debt
PostPosted: Thu Oct 18, 2018 10:44 pm 
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The NTMA got off their Green Bond last week , €3bn for 12 years @ 1.3%. The bid cover ratio was notably healthy so another few of these, like one for Metrolink if required, would appear to be quite feasible, especially at those rates. A lot cheaper than a PPP would ever be.

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 Post subject: Re: The National Debt
PostPosted: Fri Oct 19, 2018 6:14 am 
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Single Home Owner

Joined: Jul 24, 2018
Posts: 121
tea drinker wrote:
So, allegedly this year we spent (budgeted) more on Health than even Celtic tiger years, and still we spent an extra three quarters of a billion purely by accident?
I can have no confidence in this system, especially when the public health service is so poor, and apparently a poor place to work with lots of overtime etc
If we make an extra billion in corpo tax and just burn through it how will we ever pay down the 200 billion in our lifetime?

Government debt is never going to be paid down. That just doesn't happen. Not even we'll run oil rich countries like Norway pay down debt


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 Post subject: Re: The National Debt
PostPosted: Fri Oct 19, 2018 8:35 am 
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Of Systemic Importance
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2Pack wrote:
The NTMA got off their Green Bond last week , €3bn for 12 years @ 1.3%. The bid cover ratio was notably healthy so another few of these, like one for Metrolink if required, would appear to be quite feasible, especially at those rates. A lot cheaper than a PPP would ever be.


With money this cheap we should be building way more infrastructure now


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 Post subject: Re: The National Debt
PostPosted: Fri Oct 19, 2018 11:05 am 
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But that would be countercyclical. And the construction is probably expensive now. Diminishing any perceived benefits from low teaser rates.

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