Were at some point in the greatest economic period in Irish
history. Who knows maybe its just getting going, maybe its
at its peak, but f*** it, but would anyone swap it for the
1980′s with its dodgy haircuts, 20% unemployment, and mass
emigration. Remember self aid anyone?

Enjoy reading the articles and the comments, all the best!!!

Given the fact that we pay the lowest income tax rates
within the single currency, are we swimming in the wrong
direction, compared to our European neighbours in the
single currency? Plus, if our economic fortunes, were to
take a turn for the worst, will the ECB in Frankfurt,
consider Ireland’s position and adjust the interest rates
accordingly, or will they tell the Irish government to get
on with it, and take appropriate action to sort out this
mess. I think we know what the answer will be.

I ask you, Mr McWilliams, do you think there is a future
for manufacturing jobs in Ireland and the European Union.
China and other Asian economies are expanding there skills
at a rapid rate, while in the western world people seem be
resting on there laurels. While I understand your point
about manufacturing jobs and trade deficits, there isn’t a
single country within the single currency that can compete
with China on costs.

As we are witnessing in the farming industry in the EU, we
seem to be content in paying some farmers a monthly cheque
for producing very little and depress the world market as
we subsidise these people to stay on the land at the
expense of the European taxpayer and the poor in the
developing countries around the world. Subsidies are not
the way forward for any industry, if it plans to survive.
Indeed, most European Nations privatise there national
airline carriers as they couldn’t afford to keep bailing
out, a lost making organisation.

I don’t see a great future for the manufacturing industry
in Europe in the near future. Looking at the manufacturing
figures in the UK and Ireland, I believe that they have
been declining year on year, for a while now.

All parties come to an end, like the German boom in the
50’s and 60’s and when the lights come on after a hard
night on the booze, most people are in a state of shock as
they wonder where the night as gone. Let’s hope the
hangover won’t be as bad.

Over here the American economic “boom” has been driven by
the housing market, which essentially is a Ponzi Scheme.

When the market goes south, as it inevitably will, we will
be left with a lot of foreclosures and an surfeit of
illegal Mexicans who have been acting as hod carriers. They
are here to stay and the taxpayer will be left to pay their
bills in the inevitable economic downturn to follow.A
harbinger of things to come is already occuring in
California where American hospitals near the Mexican border
are saddled with nonpaying Mexicans and forced into
bankruptcy. Of course their employers get off scot free.

Isn’t Anarcho-Capitalism wonderful!

Dan

The pyramids of Giza are of a solid construction, built to
last, stable and not to spikey at the top, solid and load
bearing at the bottom.

It would do no harm if central bankers went over to have a
wee look at them. The pyramids round here just dont look so
good – wheres the building control?

Recent excitement in the oil market has been spilling over
into global inflation figures. The U.S. has been raising
rates in an effort to head off inflation and take the heat
off their defecits which have been boiling over of late.

Such U.S. action is creating a relative weakness on the Euro
causing oil etc. to be priced up in europe. Europe is
responding by creating a perception that the interest rate
escalator is now turned on…. what will happen next who
knows?
Are the U.S. and europe heading towards an interest
rate/currency strength battle? Good fun for the viewers but
the casualties of war may be heavy. Expect collatoral
damage and watch out for friendly fire!

In my view the low interest environment of late has created
a global pyramid based economy with little underlying
support.

At the top of the pyramid excess credit and far eastern oil
demands are pushing up consumer and asset price inflation.
At the bottom of the pyramid there are unemployed central
europeans and global consumers carrying excess debt. The
pyramid is too spikey at the top, too weak at the bottom.
An interest rate battle may have the same effect as flying
an airoplane into a tall building.

Run!
P.S Dan go easy on those Mexicans. Not so long ago the
illegal hod carriers were Irish. Nothing ever stays the same
Americans may be illegal hod carriers in Mexico one day!