Ahern's magic clothes (Privatization of the National Debt)
Saw this on Politics.ie its a very good description of Berties con job on the Irish people. Its by a poster called mairteenpak: Bertie Ahern's Economic Miracle was simply an illusion, cleverly perpetrated, on and against the Irish People. The traditional Fianna Fail policy of massive exchequer borrowing, to buy an election, was replaced with a new variation, massive private borrowing, on the back of the Ahern induced Property Bubble, which was provided a revenue stream based on effectively a tax on borrowed money, which is yet, in the main, to be paid back. While the policy produced booming tax receipts in the glorious Ahern years, warnings that this boom was generated, as the short sweet bloom, of unsustainable borrowing, based on the Fianna Fail property Pyramid Scheme, fell on ears that would not hear, let alone heed the warning. The victims of the privatization off the National Debt were: The competitiveness of the Irish Economy. The generation of young Irish people going through the Education System, who will emerge into the Celtic Snail Economy. The people who will be caught in shoebox apartments in negative equity, with homes too small for a growing or expanding family. Entrepreneurs wishing to sustain or start a business who were prohibited by high asset prices for any built infrastructure. The Irish Nation who will find themselves milked for decades repaying loans exceeding the value of the "assets" (liabilities) that they are secured upon. Employment The traditional Irish Family Support Structure where the Grandparents were a vital support to families with young Children, and later adult Children were a support to aging parents. Increasingly people are forced to make a home farer from their family, their friends and communities, than is ideal for society. The big winners were the Developers and Builders who bought into the Pyramid Scheme, at the early stages and who sold out the mass majority and late followers of the Property Morkett as well as people who were already sitting on a large asset base at the outset of the Ahern Miracle years. Mr. Ahern was assisted by his Chief Tailor “The Minstrel Boy Cowen” who both wove the magic cloth, and tailored Ahern's Magic Suit which captivated and held spell bound the aspirant Landlord Class during the Privation of the National Debt. But Mr. Ahern has been driven from the chieftaincy, following funding of loved ones participation in his pyramid scheme, and the Minstrel Boy and Tailor is now Chieftain. What will Mr. Cowen's Bread and Circuses be? Will it be a dash to nationalism in hard times? A lan caint as Gaeilge, and talk of empty Irish Pride? Tighten our belts in the National Interest? Will we see the real problem tackled head on, and have the sectreal interests confronted to restore competitiveness in the Irish Economy?
Saw this on Politics.ie its a very good description of Berties con job on the Irish people. Its by a poster called mairteenpak: Bertie Ahern's Economic Miracle was simply an illusion, cleverly perpetrated, on and against the Irish People. The traditional Fianna Fail policy of massive exchequer borrowing, to buy an election, was replaced with a new variation, massive private borrowing, on the back of the Ahern induced Property Bubble, which was provided a revenue stream based on effectively a tax on borrowed money, which is yet, in the main, to be paid back. While the policy produced booming tax receipts in the glorious Ahern years, warnings that this boom was generated, as the short sweet bloom, of unsustainable borrowing, based on the Fianna Fail property Pyramid Scheme, fell on ears that would not hear, let alone heed the warning. The victims of the privatization off the National Debt were: The competitiveness of the Irish Economy. The generation of young Irish people going through the Education System, who will emerge into the Celtic Snail Economy. The people who will be caught in shoebox apartments in negative equity, with homes too small for a growing or expanding family. Entrepreneurs wishing to sustain or start a business who were prohibited by high asset prices for any built infrastructure. The Irish Nation who will find themselves milked for decades repaying loans exceeding the value of the "assets" (liabilities) that they are secured upon. Employment The traditional Irish Family Support Structure where the Grandparents were a vital support to families with young Children, and later adult Children were a support to aging parents. Increasingly people are forced to make a home farer from their family, their friends and communities, than is ideal for society. The big winners were the Developers and Builders who bought into the Pyramid Scheme, at the early stages and who sold out the mass majority and late followers of the Property Morkett as well as people who were already sitting on a large asset base at the outset of the Ahern Miracle years. Mr. Ahern was assisted by his Chief Tailor “The Minstrel Boy Cowen” who both wove the magic cloth, and tailored Ahern's Magic Suit which captivated and held spell bound the aspirant Landlord Class during the Privation of the National Debt. But Mr. Ahern has been driven from the chieftaincy, following funding of loved ones participation in his pyramid scheme, and the Minstrel Boy and Tailor is now Chieftain. What will Mr. Cowen's Bread and Circuses be? Will it be a dash to nationalism in hard times? A lan caint as Gaeilge, and talk of empty Irish Pride? Tighten our belts in the National Interest? Will we see the real problem tackled head on, and have the sectreal interests confronted to restore competitiveness in the Irish Economy?