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	<title>Comments on: Serengeti Economics point to Good Bank Solution</title>
	<atom:link href="http://www.davidmcwilliams.ie/2009/02/11/with-credit-taps-turned-off-economic-life-withers/feed" rel="self" type="application/rss+xml" />
	<link>http://www.davidmcwilliams.ie/2009/02/11/with-credit-taps-turned-off-economic-life-withers</link>
	<description>The website of economist, author and broadcaster, David McWilliams</description>
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		<title>By: Dr.Nightdub</title>
		<link>http://www.davidmcwilliams.ie/2009/02/11/with-credit-taps-turned-off-economic-life-withers/comment-page-2#comment-54322</link>
		<dc:creator>Dr.Nightdub</dc:creator>
		<pubDate>Sun, 15 Feb 2009 10:50:25 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=995#comment-54322</guid>
		<description>&quot;I am Oscar Wilde, James Joyce AND Frank Skinner.&quot;

Surely Hunter S. Thompson deserves a LITTLE credit too?</description>
		<content:encoded><![CDATA[<p>&#8220;I am Oscar Wilde, James Joyce AND Frank Skinner.&#8221;</p>
<p>Surely Hunter S. Thompson deserves a LITTLE credit too?</p>
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		<title>By: McW believer</title>
		<link>http://www.davidmcwilliams.ie/2009/02/11/with-credit-taps-turned-off-economic-life-withers/comment-page-1#comment-54260</link>
		<dc:creator>McW believer</dc:creator>
		<pubDate>Sat, 14 Feb 2009 07:24:05 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=995#comment-54260</guid>
		<description>J J I agree with you fully. We dont need a Government to start a new bank. I have found a fully licensed new Bank running one year (no baggage) which is available right now. It requires €10 million to acquire 50% of the shares. Ready to take on the weakened opposition immediately. Profit potential is excellent. Investors step forward now for full details.</description>
		<content:encoded><![CDATA[<p>J J I agree with you fully. We dont need a Government to start a new bank. I have found a fully licensed new Bank running one year (no baggage) which is available right now. It requires €10 million to acquire 50% of the shares. Ready to take on the weakened opposition immediately. Profit potential is excellent. Investors step forward now for full details.</p>
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		<title>By: AndrewGMooney</title>
		<link>http://www.davidmcwilliams.ie/2009/02/11/with-credit-taps-turned-off-economic-life-withers/comment-page-2#comment-54253</link>
		<dc:creator>AndrewGMooney</dc:creator>
		<pubDate>Fri, 13 Feb 2009 23:01:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=995#comment-54253</guid>
		<description>Author: Malcolm McClure
Comment:
Some readers may be disinclined to dredge through the entire economium above, so I append a shortened version, if merely to illustrate the kind of windbaggery that most readers would agree has no place on this site:
 
&quot;no intention of patronised(sic) — known universe.—groupie— it’s transparent that — I will pray for you.
 increasingly forlorn tales ——  risible statement —shady Clurichaun Chancer— FF/FG eejits— cheerleader banalities —bleating victim script— Economic Basket Case—blizzard of foolish analytical circus tricks.
 
Gormlessly endorsing Cowen— get Ireland off the gallows — arrant nonsense— egregious astrological divinities— real conspiracy here— arrogant negligence 
‘Much of the venom—fanatics —free-riders—smug — wring their hands— ‘delusional magical thinking’ —infants playground—swot up on your ‘Idiot’s Guide To Idiotic Economics’,— hopeless ripostes —chortle  response — trawling through vanity statements.
 
 outrageously pompous&quot;—indeed.
 
Malcolm, I&#039;d take a pin and prick your own hot air balloon before you leave the stratosphere of your insufferable vanity and die of asphyxiation in the ionosphere. [“Hey, dude! Cool opening line!” Matt and Trey] 

You are not the &#039;editor&#039; of my comments, nor of this blog. That you would presume to do so says more about you than you could ever know. It says nothing to me about my life. Why don’t you organise a group-think poll and have me banished? Complain to Ronan and David. I’m lowering the tone of the neighbourhood. LOL!
 
You do not have any authority to précis my posts, even though it presumably puts a salve on your wounded pride to do so. Obviously, you do not impress me by using the word &#039;economium&#039;, although I do enjoy Scrabble and an Apple apres-gig enormously. I use fantastical linguistics fireworks in spite of, becuz of’ my poor education: I hardly need to impress people with thesaurus sourced Latin-isms. My Plain Brummie Brogue English is terrifying enough. 

As for windbaggery: Your risible ripostes are like annoying farts on a crowded bus, or bilious burps at the burger bar. Unfortunately for you, in response, I unleash hurricanes of ontological fury without so much as drawing breath. Ask around: Andy Mooney, few even last the first round. Never taken down. Ali! Mooney! Ali! Mooney! Etc.

So, why don&#039;t you just carry on with your fawning ingratiation to David McWilliams. I&#039;m sure he&#039;s entirely grateful to you for &#039;policing the playground&#039; as Head Prefect, whilst he meets and greets the great and the good. One day, if he&#039;s really lucky: He may even get to interview me. 

Much as I enjoy bare-knuckle fisticuffs from have a go merchants after the pubs are shut: It appears you are attempting to &#039;troll&#039; me. But you will not prevail. You will not hitch your tawdry wagon to my Incandescent Star. Have the last word, by all means. I defer to no one, not from some misguided pride or vanity, but simply because I am without peer in this world. 

I am, ahem: The Annointed One. 
When you are long forgotten, my name will be in Neon Lights at the entrance to Dublin Bay. I&#039;m writing these lyrical satirical surrealist art terrorist &#039;diatribes&#039; for an entirely serious reason: To save the soul of Ireland. And England. And lots of other places as well. It&#039;s tiring, barely time to snatch a cup of tea. But someone&#039;s got to Release The SuperHero Inside.

“By the banks of the Liffey, I lay down and wept.
By Eden Quay, where tramps, bedraggled, made their nest:
‘Dublin is Dead‘. ‘Dublin is Dead‘. So let’s build another dream instead.
‘Dublin is Dead’. ‘Dublin is Dead’. So, let’s build another dream instead
So I drank one, it became four. And when I fell on the floor: I drank more.
By the bar of The Liffey, I, drunken, retched”
 
Lyric. Copyright: AndrewGMooney 11/09/1960. Birmingham. Eng-Eire-Land. 

What&#039;s this got to do with Econ 101, you screech in your confusion and chaos. Everything. And Nothing. Clue: Ethics trumps Politics and Ekonomiks every single time. It was ever thus. Hint: I used to be called Marcus Aurelius.   

Through my background, biography and Art: I am re-imagining Ireland as a political, physical and metaphysical entity. And Modesty does not become Genius. I am Oscar Wilde, James Joyce AND Frank Skinner. *rollseyes* 

Sometimes the really important people keep quiet for a very long time. They watch. They wait. They deliberately dodge &#039;fame and fortune&#039;. They choose their &#039;manifestation&#039; carefully. I am one such person amidst many in the history of human culture.

David McWilliam&#039;s &#039;blog&#039; will be remembered for 10,000 years as one of the select places where my Manifestation first materialised. These words: Bones of a Saint. 

You will, at least, be able to tell your grandchildren that you were blessed by this communication from St Andrew of Sparkhill, aka: &#039;Mad Paddy From Brum&#039;. And no, for once, I&#039;m not taking the piss. This is 4Real, my ~Sacred Name carved on my arm with a fountain pen, etc.

AndrewGMooney
20:12 20/12 2012

PS: Are you related to Lenihan and/or Cowen? Or just another Best Friend On The Payroll?

PPS: Précis this, beeeatch! No offence intended, but this is Mountjoy. And I am The Daddy Of All MoFo Gardai, so to speak. What happened to DavidXYZ? He was almost as much fun as Viva Hate OBGYN!</description>
		<content:encoded><![CDATA[<p>Author: Malcolm McClure<br />
Comment:<br />
Some readers may be disinclined to dredge through the entire economium above, so I append a shortened version, if merely to illustrate the kind of windbaggery that most readers would agree has no place on this site:</p>
<p>&#8220;no intention of patronised(sic) — known universe.—groupie— it’s transparent that — I will pray for you.<br />
 increasingly forlorn tales ——  risible statement —shady Clurichaun Chancer— FF/FG eejits— cheerleader banalities —bleating victim script— Economic Basket Case—blizzard of foolish analytical circus tricks.</p>
<p>Gormlessly endorsing Cowen— get Ireland off the gallows — arrant nonsense— egregious astrological divinities— real conspiracy here— arrogant negligence<br />
‘Much of the venom—fanatics —free-riders—smug — wring their hands— ‘delusional magical thinking’ —infants playground—swot up on your ‘Idiot’s Guide To Idiotic Economics’,— hopeless ripostes —chortle  response — trawling through vanity statements.</p>
<p> outrageously pompous&#8221;—indeed.</p>
<p>Malcolm, I&#8217;d take a pin and prick your own hot air balloon before you leave the stratosphere of your insufferable vanity and die of asphyxiation in the ionosphere. [“Hey, dude! Cool opening line!” Matt and Trey] </p>
<p>You are not the &#8216;editor&#8217; of my comments, nor of this blog. That you would presume to do so says more about you than you could ever know. It says nothing to me about my life. Why don’t you organise a group-think poll and have me banished? Complain to Ronan and David. I’m lowering the tone of the neighbourhood. LOL!</p>
<p>You do not have any authority to précis my posts, even though it presumably puts a salve on your wounded pride to do so. Obviously, you do not impress me by using the word &#8216;economium&#8217;, although I do enjoy Scrabble and an Apple apres-gig enormously. I use fantastical linguistics fireworks in spite of, becuz of’ my poor education: I hardly need to impress people with thesaurus sourced Latin-isms. My Plain Brummie Brogue English is terrifying enough. </p>
<p>As for windbaggery: Your risible ripostes are like annoying farts on a crowded bus, or bilious burps at the burger bar. Unfortunately for you, in response, I unleash hurricanes of ontological fury without so much as drawing breath. Ask around: Andy Mooney, few even last the first round. Never taken down. Ali! Mooney! Ali! Mooney! Etc.</p>
<p>So, why don&#8217;t you just carry on with your fawning ingratiation to David McWilliams. I&#8217;m sure he&#8217;s entirely grateful to you for &#8216;policing the playground&#8217; as Head Prefect, whilst he meets and greets the great and the good. One day, if he&#8217;s really lucky: He may even get to interview me. </p>
<p>Much as I enjoy bare-knuckle fisticuffs from have a go merchants after the pubs are shut: It appears you are attempting to &#8216;troll&#8217; me. But you will not prevail. You will not hitch your tawdry wagon to my Incandescent Star. Have the last word, by all means. I defer to no one, not from some misguided pride or vanity, but simply because I am without peer in this world. </p>
<p>I am, ahem: The Annointed One.<br />
When you are long forgotten, my name will be in Neon Lights at the entrance to Dublin Bay. I&#8217;m writing these lyrical satirical surrealist art terrorist &#8216;diatribes&#8217; for an entirely serious reason: To save the soul of Ireland. And England. And lots of other places as well. It&#8217;s tiring, barely time to snatch a cup of tea. But someone&#8217;s got to Release The SuperHero Inside.</p>
<p>“By the banks of the Liffey, I lay down and wept.<br />
By Eden Quay, where tramps, bedraggled, made their nest:<br />
‘Dublin is Dead‘. ‘Dublin is Dead‘. So let’s build another dream instead.<br />
‘Dublin is Dead’. ‘Dublin is Dead’. So, let’s build another dream instead<br />
So I drank one, it became four. And when I fell on the floor: I drank more.<br />
By the bar of The Liffey, I, drunken, retched”</p>
<p>Lyric. Copyright: AndrewGMooney 11/09/1960. Birmingham. Eng-Eire-Land. </p>
<p>What&#8217;s this got to do with Econ 101, you screech in your confusion and chaos. Everything. And Nothing. Clue: Ethics trumps Politics and Ekonomiks every single time. It was ever thus. Hint: I used to be called Marcus Aurelius.   </p>
<p>Through my background, biography and Art: I am re-imagining Ireland as a political, physical and metaphysical entity. And Modesty does not become Genius. I am Oscar Wilde, James Joyce AND Frank Skinner. *rollseyes* </p>
<p>Sometimes the really important people keep quiet for a very long time. They watch. They wait. They deliberately dodge &#8216;fame and fortune&#8217;. They choose their &#8216;manifestation&#8217; carefully. I am one such person amidst many in the history of human culture.</p>
<p>David McWilliam&#8217;s &#8216;blog&#8217; will be remembered for 10,000 years as one of the select places where my Manifestation first materialised. These words: Bones of a Saint. </p>
<p>You will, at least, be able to tell your grandchildren that you were blessed by this communication from St Andrew of Sparkhill, aka: &#8216;Mad Paddy From Brum&#8217;. And no, for once, I&#8217;m not taking the piss. This is 4Real, my ~Sacred Name carved on my arm with a fountain pen, etc.</p>
<p>AndrewGMooney<br />
20:12 20/12 2012</p>
<p>PS: Are you related to Lenihan and/or Cowen? Or just another Best Friend On The Payroll?</p>
<p>PPS: Précis this, beeeatch! No offence intended, but this is Mountjoy. And I am The Daddy Of All MoFo Gardai, so to speak. What happened to DavidXYZ? He was almost as much fun as Viva Hate OBGYN!</p>
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		<title>By: wills</title>
		<link>http://www.davidmcwilliams.ie/2009/02/11/with-credit-taps-turned-off-economic-life-withers/comment-page-2#comment-54244</link>
		<dc:creator>wills</dc:creator>
		<pubDate>Fri, 13 Feb 2009 20:03:04 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=995#comment-54244</guid>
		<description>Hi David, 
I think there is something to all of this that is very fishy. This Banking crisis did not happen over night. The powers at be knew about it  how could they have not. This is their office job, they are trained and university educated and experienced and smart and their in the bank been paid a handsome salary running it. The info on it is found where they work, in their in-trays. I think the crisis is a lie. I think it is a diversion. A distraction to another story. Behind the banking scenes another story nothing to do with the banking crisis is unfolding at a rapid pace and meanwhile the media and the rest of us are distracted focusing on this supposed crisis. The banks are not adhoc&#039;d in debt. The supposed debt is comprised of numbers typed into accounts and moved around digitally. There is no real currency at stake here for the banks. It is a fraud. These supposed loans to property developers are numbers typed into their accounts. Any actual cash withdrawals on these accounts which couldn&#039;t be more than thousands is cash pulled from the bank from customers deposits. People are mixing things up and to understand this one must separate out the variables to it and see the sleight of hand at work and one will see this fraudulence of a crisis.</description>
		<content:encoded><![CDATA[<p>Hi David,<br />
I think there is something to all of this that is very fishy. This Banking crisis did not happen over night. The powers at be knew about it  how could they have not. This is their office job, they are trained and university educated and experienced and smart and their in the bank been paid a handsome salary running it. The info on it is found where they work, in their in-trays. I think the crisis is a lie. I think it is a diversion. A distraction to another story. Behind the banking scenes another story nothing to do with the banking crisis is unfolding at a rapid pace and meanwhile the media and the rest of us are distracted focusing on this supposed crisis. The banks are not adhoc&#8217;d in debt. The supposed debt is comprised of numbers typed into accounts and moved around digitally. There is no real currency at stake here for the banks. It is a fraud. These supposed loans to property developers are numbers typed into their accounts. Any actual cash withdrawals on these accounts which couldn&#8217;t be more than thousands is cash pulled from the bank from customers deposits. People are mixing things up and to understand this one must separate out the variables to it and see the sleight of hand at work and one will see this fraudulence of a crisis.</p>
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		<title>By: Malcolm McClure</title>
		<link>http://www.davidmcwilliams.ie/2009/02/11/with-credit-taps-turned-off-economic-life-withers/comment-page-2#comment-54238</link>
		<dc:creator>Malcolm McClure</dc:creator>
		<pubDate>Fri, 13 Feb 2009 18:13:57 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=995#comment-54238</guid>
		<description>Some readers may be disinclined to dredge through the entire economium above, so I append a shortened version, if merely to illustrate the kind of windbaggery that most readers would agree has no place on this site:

&quot;no intention of patronised(sic) — known universe.—groupie— it’s transparent that — I will pray for you.
 increasingly forlorn tales ——  risible statement —shady Clurichaun Chancer— FF/FG eejits— cheerleader banalities —bleating victim script— Economic Basket Case—blizzard of foolish analytical circus tricks.

Gormlessly endorsing Cowen— get Ireland off the gallows — arrant nonsense— egregious astrological divinities— real conspiracy here— arrogant negligence 
‘Much of the venom—fanatics —free-riders—smug — wring their hands— ‘delusional magical thinking’ —infants playground—swot up on your ‘Idiot’s Guide To Idiotic Economics’,— hopeless ripostes —chortle  response — trawling through vanity statements.
 
 outrageously pompous&quot;—indeed.</description>
		<content:encoded><![CDATA[<p>Some readers may be disinclined to dredge through the entire economium above, so I append a shortened version, if merely to illustrate the kind of windbaggery that most readers would agree has no place on this site:</p>
<p>&#8220;no intention of patronised(sic) — known universe.—groupie— it’s transparent that — I will pray for you.<br />
 increasingly forlorn tales ——  risible statement —shady Clurichaun Chancer— FF/FG eejits— cheerleader banalities —bleating victim script— Economic Basket Case—blizzard of foolish analytical circus tricks.</p>
<p>Gormlessly endorsing Cowen— get Ireland off the gallows — arrant nonsense— egregious astrological divinities— real conspiracy here— arrogant negligence<br />
‘Much of the venom—fanatics —free-riders—smug — wring their hands— ‘delusional magical thinking’ —infants playground—swot up on your ‘Idiot’s Guide To Idiotic Economics’,— hopeless ripostes —chortle  response — trawling through vanity statements.</p>
<p> outrageously pompous&#8221;—indeed.</p>
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		<title>By: AndrewGMooney</title>
		<link>http://www.davidmcwilliams.ie/2009/02/11/with-credit-taps-turned-off-economic-life-withers/comment-page-2#comment-54234</link>
		<dc:creator>AndrewGMooney</dc:creator>
		<pubDate>Fri, 13 Feb 2009 17:46:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=995#comment-54234</guid>
		<description>Malcolm McClure:

I have no intention of patronised by your assumed authority to censor any comment whatsoever on this blog. Although it’s an amusing concept that I would ever defer to you, David McWilliams or anyone else in the known universe. I do not want or need your approval. I do not care what kind of FF/FG groupie you are, but it’s transparent that this is indeed what you are. I will pray for you.

The gravity of the situation is obvious and worsening by the day. Cowen and Lenihan have abused any and all lifelines of trust that have been thrown their way. So let them drown. Perhaps you’re censoring your reading and have avoided the latest opinion polls? LOL! As for ‘dispassionate observer’, that I am certainly not. I am passionate about Ireland’s past, present and future. I have friends, relatives and casual acquaintances living in Ireland who relay increasingly forlorn tales of their day to day lives. Friends of mine who returned to Ireland from Birmingham now rue the day. Not that they’d be much better off in the English Midlands, but they can’t help but entertain those thoughts. As for the risible statement you make:

‘One may disagree with his policy, but it seems to be founded on a better knowledge of the fundamental economic and banking factors in Ireland than has been displayed here by you, me, or anyone else on this site.’

Despite his genial persona, Lenihan has revealed himself to be yet another shady Clurichaun Chancer in a long line of FF/FG eejits. He didn’t even read the report he commissioned into Irish banking, such is his astonishing negligence. Himself and Cowen have trashed their credibility. So have you by your cheerleader banalities. 

You were foolish enough to attempt to upbraid me on a positive comment made by Charles Dumas from Lombard Street Research’ which I linked to, to show that a simplistic analysis of a supposed Eurosceptic Consensus against Ireland emerging from London was a nonsense. Blaming The City of London is a retreat to the usual FF/FG bleating victim script, a luxury that Ireland simply cannot indulge in, such is the real and present danger of Sovereign Bankruptcy. 

Sadly for you, Mr Dumas is in today’s Irish Times with a reasoned article entitled ’Ireland Is Not An Economic Basket Case’. He’s right, even though you summarily dismissed him by retreating to a blizzard of foolish analytical circus tricks. As if that’s going to impress me!

Gormlessly endorsing Cowen and Lenihan just creates more problems and cannot be part of any possible solution. Pretending that ‘luck’ or ‘positive thinking’ will get Ireland off the gallows is just arrant nonsense. Far more egregious than any astrological divinities. You will note that Mr Dumas entirely echoes my complaint about the real conspiracy here, which is the arrogant negligence of the ECB. Allow me to quote from his article, which echoes the theme I have expounded with vigour: 

‘Much of the venom concerning Irish financial problems comes from balanced-budget fanatics in Brussels and north-central Europe. These countries with their savings gluts have been free-riders on other countries’ domestic demand for years. They are smug about the temporary difficulties of the more dynamic spender economies.
But the crash in German and Benelux GDPs following that of their exports may soon make them wring their hands, dependent as they are for exports, and therefore output and income, upon deficit-country borrowing. Much the same people are determined to punish Ireland for rejecting the latest version of the European constitution in the referendum. Their hope is that financial stress will force Ireland to seek fellow EMU members’ help, for which the condition will be another referendum pronto, their hope being that an Irish populace cowed by strong recession will cave in and approve it.’

http://www.irishtimes.com/newspaper/opinion/2009/0213/1233867934808.html 

I don’t do ‘delusional magical thinking’ Malcolm. I have a far greater understanding of ethics, economics and politics than either Cowen or Lenihan. You are, to put it mildly, out of your depth. I’d get yourself back down to the infants playground and swot up on your ‘Idiot’s Guide To Idiotic Economics’, whilst I press on with constructing a New Reality with Taleb, Roubini, Darling and Obama. If you want to continue entertaining me with your hopeless ripostes, I will continue to chortle in response. You provide light relief from the grim tasks I have before me.  

I post here for a very serious reason. The feedback I have received from various quarters leads me to believe it makes sense to continue, despite trawling through vanity statements such as yours. 

I’m in no mood to be ‘charitable’ to Mr Cowen or Mr Lenihan, certainly not on their  outrageously pompous salaries, which they has most definitely not earned. 

20:12 20/12 2012</description>
		<content:encoded><![CDATA[<p>Malcolm McClure:</p>
<p>I have no intention of patronised by your assumed authority to censor any comment whatsoever on this blog. Although it’s an amusing concept that I would ever defer to you, David McWilliams or anyone else in the known universe. I do not want or need your approval. I do not care what kind of FF/FG groupie you are, but it’s transparent that this is indeed what you are. I will pray for you.</p>
<p>The gravity of the situation is obvious and worsening by the day. Cowen and Lenihan have abused any and all lifelines of trust that have been thrown their way. So let them drown. Perhaps you’re censoring your reading and have avoided the latest opinion polls? LOL! As for ‘dispassionate observer’, that I am certainly not. I am passionate about Ireland’s past, present and future. I have friends, relatives and casual acquaintances living in Ireland who relay increasingly forlorn tales of their day to day lives. Friends of mine who returned to Ireland from Birmingham now rue the day. Not that they’d be much better off in the English Midlands, but they can’t help but entertain those thoughts. As for the risible statement you make:</p>
<p>‘One may disagree with his policy, but it seems to be founded on a better knowledge of the fundamental economic and banking factors in Ireland than has been displayed here by you, me, or anyone else on this site.’</p>
<p>Despite his genial persona, Lenihan has revealed himself to be yet another shady Clurichaun Chancer in a long line of FF/FG eejits. He didn’t even read the report he commissioned into Irish banking, such is his astonishing negligence. Himself and Cowen have trashed their credibility. So have you by your cheerleader banalities. </p>
<p>You were foolish enough to attempt to upbraid me on a positive comment made by Charles Dumas from Lombard Street Research’ which I linked to, to show that a simplistic analysis of a supposed Eurosceptic Consensus against Ireland emerging from London was a nonsense. Blaming The City of London is a retreat to the usual FF/FG bleating victim script, a luxury that Ireland simply cannot indulge in, such is the real and present danger of Sovereign Bankruptcy. </p>
<p>Sadly for you, Mr Dumas is in today’s Irish Times with a reasoned article entitled ’Ireland Is Not An Economic Basket Case’. He’s right, even though you summarily dismissed him by retreating to a blizzard of foolish analytical circus tricks. As if that’s going to impress me!</p>
<p>Gormlessly endorsing Cowen and Lenihan just creates more problems and cannot be part of any possible solution. Pretending that ‘luck’ or ‘positive thinking’ will get Ireland off the gallows is just arrant nonsense. Far more egregious than any astrological divinities. You will note that Mr Dumas entirely echoes my complaint about the real conspiracy here, which is the arrogant negligence of the ECB. Allow me to quote from his article, which echoes the theme I have expounded with vigour: </p>
<p>‘Much of the venom concerning Irish financial problems comes from balanced-budget fanatics in Brussels and north-central Europe. These countries with their savings gluts have been free-riders on other countries’ domestic demand for years. They are smug about the temporary difficulties of the more dynamic spender economies.<br />
But the crash in German and Benelux GDPs following that of their exports may soon make them wring their hands, dependent as they are for exports, and therefore output and income, upon deficit-country borrowing. Much the same people are determined to punish Ireland for rejecting the latest version of the European constitution in the referendum. Their hope is that financial stress will force Ireland to seek fellow EMU members’ help, for which the condition will be another referendum pronto, their hope being that an Irish populace cowed by strong recession will cave in and approve it.’</p>
<p><a href="http://www.irishtimes.com/newspaper/opinion/2009/0213/1233867934808.html" rel="nofollow">http://www.irishtimes.com/newspaper/opinion/2009/0213/1233867934808.html</a> </p>
<p>I don’t do ‘delusional magical thinking’ Malcolm. I have a far greater understanding of ethics, economics and politics than either Cowen or Lenihan. You are, to put it mildly, out of your depth. I’d get yourself back down to the infants playground and swot up on your ‘Idiot’s Guide To Idiotic Economics’, whilst I press on with constructing a New Reality with Taleb, Roubini, Darling and Obama. If you want to continue entertaining me with your hopeless ripostes, I will continue to chortle in response. You provide light relief from the grim tasks I have before me.  </p>
<p>I post here for a very serious reason. The feedback I have received from various quarters leads me to believe it makes sense to continue, despite trawling through vanity statements such as yours. </p>
<p>I’m in no mood to be ‘charitable’ to Mr Cowen or Mr Lenihan, certainly not on their  outrageously pompous salaries, which they has most definitely not earned. </p>
<p>20:12 20/12 2012</p>
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		<title>By: Malcolm McClure</title>
		<link>http://www.davidmcwilliams.ie/2009/02/11/with-credit-taps-turned-off-economic-life-withers/comment-page-2#comment-54229</link>
		<dc:creator>Malcolm McClure</dc:creator>
		<pubDate>Fri, 13 Feb 2009 15:09:41 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=995#comment-54229</guid>
		<description>AndrewGMooney: The present situation is far too serious to warrant &#039;flip&#039; comments like yours above. It is appropriate to give credit where credit is due, and most dispassionate observers would give Lenihan credit, at least, for having mastered the detail in an extremely complicated brief. One may disagree with his policy, but it seems to be founded on a better knowledge of the fundamental economic and banking factors in Ireland than has been displayed here by you, me, or anyone else on this site. That of course is what he is paid for. On this performance he has earned his salary so far in 2009. Being charitable, he was a rookie finance minister in 2008 so that explains why his budget was rubbish.

It is emerging that there is plenty of blame to be apportioned to the custodians of IL&amp;P and AnIB so it is possible to distinguish now between the downright crooks and the diligent but over-reaching banks. Lets be positive and see what happens.</description>
		<content:encoded><![CDATA[<p>AndrewGMooney: The present situation is far too serious to warrant &#8216;flip&#8217; comments like yours above. It is appropriate to give credit where credit is due, and most dispassionate observers would give Lenihan credit, at least, for having mastered the detail in an extremely complicated brief. One may disagree with his policy, but it seems to be founded on a better knowledge of the fundamental economic and banking factors in Ireland than has been displayed here by you, me, or anyone else on this site. That of course is what he is paid for. On this performance he has earned his salary so far in 2009. Being charitable, he was a rookie finance minister in 2008 so that explains why his budget was rubbish.</p>
<p>It is emerging that there is plenty of blame to be apportioned to the custodians of IL&amp;P and AnIB so it is possible to distinguish now between the downright crooks and the diligent but over-reaching banks. Lets be positive and see what happens.</p>
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		<title>By: AndrewGMooney</title>
		<link>http://www.davidmcwilliams.ie/2009/02/11/with-credit-taps-turned-off-economic-life-withers/comment-page-2#comment-54217</link>
		<dc:creator>AndrewGMooney</dc:creator>
		<pubDate>Fri, 13 Feb 2009 13:14:36 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=995#comment-54217</guid>
		<description>Malcolm, this is a simply hilarious send up of a FF shill, almost as good as this other one by John Waters in today&#039;s Irish Times:

&#039;Cowen fills our need for strong father figure&#039;

http://www.irishtimes.com/newspaper/opinion/2009/0213/1233867934720.html

There&#039;s certainly a place for humour even amidst this growing crisis. However, I&#039;m not sure everyone will &#039;get&#039; the dark sarcasm in your post. They might even think you&#039;re being serious. LOL!

I&#039;m sure David feels suitably chastened and will return to &#039;on-message&#039; cheerleading for the Soldiers of Destiny. After all, he is part of the Establishment, isn&#039;t he?

http://www.soldiersofdestiny.org/

Very, very droll. I didn&#039;t think you had it in you. B+</description>
		<content:encoded><![CDATA[<p>Malcolm, this is a simply hilarious send up of a FF shill, almost as good as this other one by John Waters in today&#8217;s Irish Times:</p>
<p>&#8216;Cowen fills our need for strong father figure&#8217;</p>
<p><a href="http://www.irishtimes.com/newspaper/opinion/2009/0213/1233867934720.html" rel="nofollow">http://www.irishtimes.com/newspaper/opinion/2009/0213/1233867934720.html</a></p>
<p>There&#8217;s certainly a place for humour even amidst this growing crisis. However, I&#8217;m not sure everyone will &#8216;get&#8217; the dark sarcasm in your post. They might even think you&#8217;re being serious. LOL!</p>
<p>I&#8217;m sure David feels suitably chastened and will return to &#8216;on-message&#8217; cheerleading for the Soldiers of Destiny. After all, he is part of the Establishment, isn&#8217;t he?</p>
<p><a href="http://www.soldiersofdestiny.org/" rel="nofollow">http://www.soldiersofdestiny.org/</a></p>
<p>Very, very droll. I didn&#8217;t think you had it in you. B+</p>
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		<title>By: Malcolm McClure</title>
		<link>http://www.davidmcwilliams.ie/2009/02/11/with-credit-taps-turned-off-economic-life-withers/comment-page-2#comment-54215</link>
		<dc:creator>Malcolm McClure</dc:creator>
		<pubDate>Fri, 13 Feb 2009 12:28:06 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=995#comment-54215</guid>
		<description>Two videos by Brian Goggin of BoI and by Brian Lenihan on the RTE  website this morning are worth watching as they provide a revealing picture of the recapitalization of the two banks and provide answers  to several other questions.

In my opinion, Lenihan gave a totally competent and convincing account of what had been done to recapitalize the banks and provided as clear and open an account of the scope of the problem, and his proposed solution, as could be expected given the commercial sensitivity of some of the figures. He explained the delay in responding to all our concerns as the time needed to get to the bottom of the problem and work out that solution. Quite reasonable in the circumstances.

There was enough detail in Lenihan&#039;s responses to correspondents&#039; questions to restore foreign investors&#039; confidence that the Irish banking system has a good chance of recovery once his planned reorganization is completed.  He made the important point that Paulson, Trichet and Brown have had to backtrack on several of their early plans and that Recapitalization was the appropriate remedy for Ireland&#039;s situation. The two banks bad loans totalled €35B on property related loans and the extreme figures (that I quoted earlier form Dresdner) were a vast exaggeration. Time will tell.

He was not in denial about the disgraceful behaviour at AnIB and appeared ready to prosecute the malefactors. 

These detailed answers alleviated many of the concerns that have been expressed on this site about the banks over the past couple of months.  In short, the die is cast; I think David and others should give him a break for a few months to see how things turn out. 

Goggin too, gave a reassuring performance, although he couldn&#039;t go beyond regret in saying sorry.</description>
		<content:encoded><![CDATA[<p>Two videos by Brian Goggin of BoI and by Brian Lenihan on the RTE  website this morning are worth watching as they provide a revealing picture of the recapitalization of the two banks and provide answers  to several other questions.</p>
<p>In my opinion, Lenihan gave a totally competent and convincing account of what had been done to recapitalize the banks and provided as clear and open an account of the scope of the problem, and his proposed solution, as could be expected given the commercial sensitivity of some of the figures. He explained the delay in responding to all our concerns as the time needed to get to the bottom of the problem and work out that solution. Quite reasonable in the circumstances.</p>
<p>There was enough detail in Lenihan&#8217;s responses to correspondents&#8217; questions to restore foreign investors&#8217; confidence that the Irish banking system has a good chance of recovery once his planned reorganization is completed.  He made the important point that Paulson, Trichet and Brown have had to backtrack on several of their early plans and that Recapitalization was the appropriate remedy for Ireland&#8217;s situation. The two banks bad loans totalled €35B on property related loans and the extreme figures (that I quoted earlier form Dresdner) were a vast exaggeration. Time will tell.</p>
<p>He was not in denial about the disgraceful behaviour at AnIB and appeared ready to prosecute the malefactors. </p>
<p>These detailed answers alleviated many of the concerns that have been expressed on this site about the banks over the past couple of months.  In short, the die is cast; I think David and others should give him a break for a few months to see how things turn out. </p>
<p>Goggin too, gave a reassuring performance, although he couldn&#8217;t go beyond regret in saying sorry.</p>
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		<title>By: Furrylugs</title>
		<link>http://www.davidmcwilliams.ie/2009/02/11/with-credit-taps-turned-off-economic-life-withers/comment-page-1#comment-54187</link>
		<dc:creator>Furrylugs</dc:creator>
		<pubDate>Fri, 13 Feb 2009 01:23:59 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=995#comment-54187</guid>
		<description>Not being a Nerd CREST but Treason isn&#039;t included in our Constitution. Unless you foment armed rebellion. I know I&#039;m sounding like an Anorak now.
I probably could do with a weekend in Dun Aengus.</description>
		<content:encoded><![CDATA[<p>Not being a Nerd CREST but Treason isn&#8217;t included in our Constitution. Unless you foment armed rebellion. I know I&#8217;m sounding like an Anorak now.<br />
I probably could do with a weekend in Dun Aengus.</p>
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