November 10, 2010

The Real Story

Posted in News · 14 comments ·
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Fed up with the spin coming out of the Rehn-fest yesterday? Here is what is really happening today. Irish yields for our 2015 government paper now offered at 10% (not 8+%), no bids. AIB senior bonds 2016 maturity now 13% offered, no bids. This after paying E55 billion to senior bond holders in September! As I have argued here for many months making your financial position worse (by paying seniors and incurring debt) is never going to make your risk profile anything other than more risky. This is where we are now. Pathetic. See you in Kilkenny!


  1. irishminx

    Are our Government being lead like sheep? OR is there, as yet, unseen gain for them?!? I want to yell STOP to them!!!!

    I can not conceive that they are this unintelligent!

    So I ask them, what is the gain in this course of action, for them??????

  2. DarraghD

    Would love to make it down to Kilkenny, unfortunately finances do not allow at the mo but the very best of luck with the festival David…

  3. CrystalBalls

    Time for the big 4 ‘D’s
    D1 = Ditch the euro and introduce the dunt (rather than punt)
    D2 = Default on debts (sovereign, commercial, residential, etc. etc.)
    D3 = Devalue new dunt
    D4 = Devalue the dunt again

  4. Ireland.InBits.com

    We need to shout out every time these scumbags lie about what is going on – they think that constantly repeating “this is our only choice” makes it true. On http://ireland.inbits.com I’m asking what if small business and mortgage holders acted to break the spell?
    May get out to see you guys for Kilkenomics, otherwise best of luck.

  5. [...] McWilliams says just now that the figures are even worse than being reported – hardly surprising as the sleepwalking Government and its constellation of lying scumbag [...]

  6. Gege Le Beau

    In this instance, the numbers speak for themselves.

    When will the government put out the white flag? 55 billion plus never to be seen again, catastrophic.

    • TheFullRed

      Is this 55 billion in reference to our Sovereign Debt, or is it to senior bond holders in the likes of Anglo? 55 billion! How much are the lives of one cabinet worth???
      It seems to me that the Government and Media in particular are under-estimating the pent-up rage in this country. Its a pressure cooker and its gonna explode. I would say we could see civil unrest this winter. I dont agree with this unrest, but the government seem to be more intent on defending their position than looking to the greater good.
      “Now is the Winter of our discontent…”

  7. reynov8me

    How can we stop this madness, why won’t we march?
    Come to think of it I can’t afford to leave my town, does Cowen/Lenihan know this and carry on regardless.

    • TheFullRed

      Is this 55 billion in reference to our Sovereign Debt, or is it to senior bond holders in the likes of Anglo? 55 billion! How much are the lives of one cabinet worth???
      It seems to me that the Government and Media in particular are under-estimating the pent-up rage in this country. Its a pressure cooker and its gonna explode. I would say we could see civil unrest this winter. I dont agree with this unrest, but the government seem to be more intent on defending their position than looking to the greater good.
      “Now is the Winter of our discontent…”

  8. NO HOPE

    Would love to come to Kilkenny David.Unfortunately the two Briansters have bankrupted me and I cant afford it as I am on the dole. I am hoping however that they will stick to their word and we will turn a corner. Things are positive are they not? Have we not made a turnaround? These wankers have not only screwed you, me and everyone old enough to breathe for the next 40 years, we still have to listen to their shite about how wonderful the EU is and how helpful Ollie is. Ollie came here for one reason only, to tell the two Briansters that if they dont get their shit together and wake up, that there will be no more money from the EU. Never mind about the EU not letting us fail. When we default in June 2011 they are going to cut us loose like the rotten festering pustule that we are. We will be oh so screwed come June. As Arnie says, Hasta La Vista Baby! It is time to seriously look elsewhere (emigrate) as June next year will be the financial nuclear winter that we have been warned about. Do you know that Father Christmas is real? No, really, he is. I saw him. I did. I also saw the bond rates going down so we can borrow at realistic rates. I did it`s true… Here`s news folks. The bond rates will not come down they will go up. Next year June these idiots that keep on saying things are going to be all right will be shown for the true fools they are.
    So when was that march again? when do we take to the streets?

  9. Dorothy Jones

    I will be there on Sat and in Langtons at 8:30.

  10. DarraghD

    Maybe David you could organise a similar event for the unemployed of Dublin when you get back, down by the Popes Cross maybe in the Park, instead of Langdons, myself & HO HOPE and the rest of us gullies can bring bags of cans! ;-)

  11. TheFullRed

    I am utterly enraged, utterly sickened, by the moral cowardice and utter disregard for this Nation as has been shown by Fianna Fail, particularly in the last year when it is clear they have lost their mandate.
    Last week they went to court to stop by-elections, citing the Government’s right to do so. Not once did they impute that it was in the best interests of the country. It seems to be all about damage limitation to Fianna Fail, rather than to the country.
    From the Hill of Tara to Rossport to the Tribunals to this utter farce of a response to this crisis, these mongrels have consistently laughed at Public Opinion, disavowed their duties, obfuscated and lied. Can an immediate general election be so much more damaging to our beleaguered country??? What arrogance makes Brian Lenihan and his colleagues think only they can deliver us? Or is it, even worse, that they are so self-concerned that they put their paltry jobs above the needs of the country?

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