October 7, 2013

Look to Africa, it may surprise you!

Posted in Economic History · 146 comments ·
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Nathan Rothschild was the richest man in Britain in 1836. His wealth was enormous. He financed the British Army in its war against Napoleon and legend has it that his private system of carrier pigeons got word back to him that the British had actually won at Waterloo when the mainstream report suggested the opposite. This knowledge prompted him to buy up all British government debt when the rest of London’s financiers were selling on misinformation.

The rest is history. He was a man at the height of his financial powers in the 1830s. There was nothing he couldn’t buy and yet he died of a complication which today would not kill a poor man in this country with access to a public hospital.

How could the richest man in the world be felled by a stomach abscess, which today would involve a basic procedure and a course of antibiotics, available to anyone on the health service?

What the story reveals are the huge strides made in basic health provision for everyone over the past two hundred years. Amazingly, the standard of living of the average person hardly budged between the time Jesus walked into the desert and the time Napolean marched on Moscow.

Thereafter, the industrial revolution changed everything.

The massive increases in productivity driven by energy and inventions, drove up living standards so quickly that they doubled almost every generation so that a poor man could be cured of a disease that killed the richest man in the world a few generations before that.

This is the miracle of productivity and it explains why countries can catch up with others.

As we look around the world today, have we any reason to believe that, over time, the emerging markets of Africa will not catch up and overtake the West?

In maths, there is a concept called the 7 per cent rule. It explains exponential growth and why a quantity can grow experientially when its increase is proportional to what is already there. So for example, think about compound interest, where €100 invested at 7 per cent per year annual compound interest will double in ten years to €200, double in another ten years to approximately €400 and double again in the next ten years to approximately €800.

The same happens to economies and living standards. If an economy starts to take off, its living standards can double very quickly, if that growth rate is sustained.

Historically, the key to growth is technology and discovery.

In contrast, once the industrial revolution took off, the living standards in Britain and much of industrial Europe doubled every few decades. Now with technology widely available to the huge emerging markets of the world, there is a possibility that living standards in Africa will double every generation.

At the Global Irish Forum this weekend, it was suggested by a well-known businessman that – based on what we know about technology and how it changes hands rapidly – Africa is going to be a major economic growth region in the very near future.

Looking at the numbers we can see that he is right. Africa is growing already. Six of the world’s ten fastest growing economies of the past decade are in sub-Saharan Africa. Many have enjoyed growth in income per head of more than 5%.

Can you imagine what could happen if they kept growing at this pace? Living standards would double in a generation and then double again. This would lead to a massive reduction in disease.

This is already happening because as was the case with Rothschild, once a country gets richer and medicine becomes more and more available, the things that used to kill the rich don’t even kill the poor with access to a modicum of heath services.

The recent facts about global health are truly startling – in a good way, all of which points to an ongoing growth period in Africa.

Since 2000, 8 million more people with AIDs are receiving anti-retroviral drugs meaning mothers won’t pass the disease onto their children. Since 2000 death rates from malaria in the eight most stricken countries in Africa are down by 75%. Child mortality in the poorest countries in the world has fallen by 2.6 million a year since the turn of the century. That means that 7,256 fewer children a day are dying because of enormous strides in medical care for the poorest people in the world.

These improvements are happening all over the world and they are startling. At a time when so much media focuses on the problems of our rich world, the trends in the poorest parts of the world are strikingly positive.

In 1990, 43% of the world’s population lives on $1.25 a day. This is grinding poverty.  In 2000, that figure had fallen to 33% and this year the figure of people living in horrific poverty was 21%. So the amount of people living in absolute poverty has halved since the year Nelson Mandela walked free.

This is extraordinary and shows what is actually happening in our world. If these trends continue, absolute poverty will continue to reduce. (If you want to see more of these positive trends see Bono’s excellent recent TED talk on You Tube)

Now consider the Irish businessman’s lament about Irish exporting companies not taking Africa seriously enough. He stated that due to the missionaries – which is only a generation ago – Ireland and our brand has a special position in Africa, which is more positive than that of other European countries. Also because the rest of the world hasn’t twigged what is going on down there, there is less competition.

The other factor that might work in Ireland’s favour in the years ahead is the growth of the country’s African population. Up to now these Africans – who understand the culture, have the contacts and are constantly going back and forth – are seen as immigrants. Why not see them more positively as ambassadors for their countries and regard them essential middlemen in a trading system that will grow between Ireland, Europe and Africa in this century? After all this too is a Diaspora. In fact, the African Diaspora may become increasingly important in future global trade and investment patterns.

Where the nuns and priests led, Irish business should follow. In the commercial world, where growth is moving from the rich countries to the poor ones, stranger things have happened.

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  1. Adam Byrne

    Subscribe.

  2. grougho

    not so sure that I agree.
    what that GDP growth means is that the rich are now much richer.
    the system of income distribution in Africa would scare most Europeans.
    More stinking rich leads to more unequal socities which leads to more violence, theft (which leads to higher GDP growth) etc.
    Also the colonial yoke has strangled their countries, and I imagine most GDP growth is from multinationals exploiting natural resources – same old story.

  3. baNAMArama

    This article is nonscence. I have been in Ethiopia 5 or 6 times in the last year. I have yet to meet someone who had actually heard of Ireland or even Bob Geldof. They actually think it was Michael Jackson who set up Live Aid. The population in Ethiopia has doubled since the mid 80s and the real problem here as in other African countries is overpopulation. There are massive taxes on imported goods. Example a 20 year old Toyota Corolla costs about $10,000. Most people are very poor and rely on remittances sent home from family members working abroad. The idea of Ireland being able to trade here is ridiculous due to taxation and extreme poverty of the potential customers.
    Compared to Ethiopia, Ireland has everything going for it. We have a small population of white, well educated, English speaking people with ‘real’ connections with Europe, America, Australia. The economic position we are in now is an embarrassment when you consider our potential

    • Joe R

      +1

      “The third thing I discovered is that there’s a long history here. In his brilliant and blistering book The Frontman: Bono (in the Name of Power), just released in the UK, the Irish scholar Harry Browne maintains that “for nearly three decades as a public figure, Bono has been … amplifying elite discourses, advocating ineffective solutions, patronising the poor and kissing the arses of the rich and powerful.”(13) His approach to Africa is “a slick mix of traditional missionary and commercial colonialism, in which the poor world exists as a task for the rich world to complete.”´´

      from http://www.monbiot.com/2013/06/17/elevation/

      And D McWilliams if you want to know what a reference or research is, go look at a Monbiot article. Or a Naomi Klein one. Or any proper academic one.

      • Paul Divers

        Bono is a TOOL!
        just like Colin.
        Personality transplant in the post to both.

      • Paul Divers

        The title suggests only one conclusion :

        The author is a complete TOOL. Aye a bright and shining knob who lost his direction lonmg go bu.

        Most of them are tools literally … Little boys cashing in on their fame.

        Populists cashing in. So transparent.

        History proves that McWilliams and Bono are nobodys, history is the domain of ‘the people’. BUT … thesese wanklers like to think they are above the people.

        Why listen?

        It’s time McWilliams and Bonjo were taught some manners.

        I

  4. 5Fingers

    Africa is probably a 15-20yr bet. I remember China being referenced as just a big version of Nth Korea. And I remember Japanese was for something low quality. How things change in a lifetime.

    Africa is the 3rd world’s 3rd world. I am not sure about the claims made regarding improved quality of life. I cannot help feeling that “conventional wisdom” with respect to growth and average improved good for all is being challenged by a battered 1st world that is lurching about soaking up resources needed for old ways of working by any means deemed necessary. Africa has all the hallmarks of a victim or of an initially well fed slave until it is of no use anymore.

    Aside from this, the idea of homogenizing (to western ways) yet another continent with consequent loss of diversity and the way this may set us all up for our biggest downfall never seems to occur to anyone until it is too late.

  5. michaelcoughlan

    Not to mention one of our own down there. You will see the picture of Blair hugging Gadaffi in the link. Makes you sick. Talk about pissing on the memory of lockerbie.

    http://www.dailymail.co.uk/news/article-1363222/The-day-LSE-sold-soul-Libya-BP-chief-makes-oil-deal-Gaddafi–drags-prestigious-university-disrepute.html

    • bonbon

      “our own” – you mean Ghadaffi? Or your Obama’s public execution of him as captive, on CNN? Be clear.

    • DB4545

      I read the article Michael. The picture must have been some shock for any relatives of WPC Fletcher. They murder an unarmed policewoman and the political leadership of the UK line up for photos with the man responsible for her murder. They really are vile disgusting people. It just goes to show that people in power respect money and power to the exclusion of decency. I’m sure the vile disgusting people here would happily broker a deal with Garda killers if it gets them into power.

    • Paul Divers

      Blair is making millions a year from his strange appointment as ‘Middle East Peace Advisor’. That is why George Galloway wants him in The Hague.

      Strange Fruit

  6. EugeneN

    People don’t really get the mathematics of exponential growth. Basically, if the exponential growth continues David is right, Africa will catch up with Europe. You could argue against that growth continuing but not the extrapolation from now.

    Even a slowdown will mean it will continue to catch up, but slowly.

    The seven percent rule – which is a rule of thumb – is better generalized to this formula.

    The time for something growing at X percent to double in years is 70 years/ X + a few months.

    at 1% that is exact, you get 2.01% growth after 70 ( 70/1) years compounded.

    at 70% after 1 year ( 70/70) you will get 70% growth in one year, but a few weeks later assuming continuous growth it will be double.

    at 7% you will actually just achieve an increase of 96.7% in 10 years ( 70/7) but again a few weeks, or a week, will make up the difference.

    It’s a rule of thumb, not a strong mathematical formula.

  7. Don’t you just love how economists are so used to paint pictures in the colors they need?

    Let’s hear some hard data instead of the wishful thinking.

    Across 16 countries where data is available over the past decade, the average experience of lived poverty has hardly changed.

    http://www.afrobarometer.org/files/documents/policy_brief/ab_r5_policybriefno1.pdf

    DMcW:Where the nuns and priests led, Irish business should follow.

    But of course, but of course!

    DMcW:If you want to see more of these positive trends see Bono’s excellent recent TED

    But of course, but of course! Pfff!

    Anyone else in need of some barf bags around here?

    • Georg

      Bono’s presentation at TED is excellent. How he puts up with all the begrudgers in Ireland who haven’t an ounce of his talent is beyond me. Ireland bullshits itself about world class this and that but the only truly (as measured by proper success worldwide) world-beating outfit produced by this State is U2. And I mean this little grubby 1922, 26 county State. All the others Joyce, Beckett, Heaney – those cultural names that are knwon around the world and we like to talk of, none were born, brought up and educated in this State after Independence.

      Bono haters are a pathetic bunch, scribbling their lousy bitter books/articles and actaully hoping to make a few quid out of the sheer quality of their sneeriness – its pathetic.

      David

      • Adam Byrne

        It’s only music David, it’s trivial at the end of the day. It doesn’t feed the hungry. Most of Bono’s music is tripe – fit for background noise in a supermarket. I’m not sure where ‘talent’ comes into it.

        I’ll watch the TED presentation with an open mind though. I’m sure he has good intentions. Your writing does more for humankind that Bono’s music does – just because he sells 100 million albums doesn’t make him a prophet. I don’t hate the guy myself, that would be a waste of energy.

        We want a world beating country that fulfills it’s potential, especially for the young. ‘World-beating’ pop bands are irrelevant.

        • I hear you Adam, but what I am saying is this State of ours have produced few in terms of people who are internationally recognised for anything, those guys are and he is the lead singer and front man.

          The Bono haters appears to me to be the most bilious bunch of begrudgers swiming around in a cesspit of begrudgers!

          D

          • Adam Byrne

            Yeah, fair enough. I don’t pay much attention to them myself. Like I say, his heart seems to be in the right place.

          • SMOKEY

            David I am a majour fan of yours, but the South Park episode sums up what most of us feel about Boner.
            The guy is a Turd.
            As for talent? Mediocre at best.
            Robert Plant, Ted Nugent, John Lennon or Michael Jackson had talent.
            Boner is a fat bloated little man with some hits and he is a puke.
            Myley Cyrus is about to outsell him, go figure.
            Im not a begrudgeer in general, I just hate that fat fuck. And his band. And their mediocrity.
            Give me Baker Street, Layla or Dont Stop or Enter Sandman or Highway to Hell any day over the whiny fat boy singing his crap songs.
            Him and Turbridy and Eaomon Gilmore can hang out and kiss each others sickening butts.

          • SMOKEY

            David I am a majour fan of yours, but the South Park episode sums up what most of us feel about Boner.
            The guy is a Turd.
            As for talent? Mediocre at best.
            Robert Plant, Ted Nugent, John Lennon or Michael Jackson had talent.
            Boner is a fat bloated little man with some hits and he is a puke.
            Myley Cyrus is about to outsell him, go figure.
            Im not a begrudger in general, I just hate that fat fuck. And his band. And their mediocrity.
            Give me Baker Street, Layla or Dont Stop or Enter Sandman or Highway to Hell any day over the whiny fat boy singing his crap songs.
            Him and Turbridy and Eaomon Gilmore can hang out and kiss each others sickening butts.

          • Adam Byrne

            Sales don’t mean shit – we are talking about the buying public here – the same bunch of turkeys that vote for Christmas every four or five years. But U2′s so-called ‘music’ has been awful since about 1987 – that much is true. No wonder the guy pursues other pastimes.

          • Paul Divers

            Idiot

          • Paul Divers

            Wanker!

        • paddythepig

          Adam, love doesn’t feed the hungry either but most of us can’t live without it.

          Remember it’s important to feed the soul too.

        • Paul Divers

          A wanker.

          • redriversix

            Morning Paul

            hope you are in excellent form this fine morning.

            A gentle reminder…..

            drinking & typing is a bad mix

            perhaps some camomile tea ?

            very soothing.

            Have a wonderful day……..

      • put very well David these guys who crib about everything remind me of Buzzards Roosting on cliffs waiting for someone to die to pick the bones.
        having said that we certainly come a Long way when even the gobshites are well Educated ?”,

      • Joe R

        You sound like a stupid 14 year old here, D McWilliams.

        Remember that episode of Father Ted;

        “So do you like Blur or Oasis?´´
        http://www.youtube.com/watch?v=8ZvZ_wu3c6Y

        And which gang will I be in if I answer correctly?

        The following is a worrisome excerpt from George Monbiot´s article of last June on Bono called `Elevation´, which I came across because someone posted it right here.

        “Last week I drew attention to the New Alliance for Food Security and Nutrition, launched in the US when it chaired the G8 meeting last year(5). The alliance is pushing African countries into agreements which allow foreign companies to grab their land, patent their seeds and monopolise their food markets. Ignoring the voices of their own people, six African governments have struck deals with companies such as Monsanto, Cargill, Dupont, Syngenta, Nestlé and Unilever, in return for promises of aid by the UK and other G8 nations.

        A wide range of activists, both African and European, is furious about the New Alliance(6). But the ONE campaign, co-founded by Bono, stepped up to defend it(7).´´

        http://www.monbiot.com/2013/06/17/elevation/

        • EugeneN

          Monbiot would be making less money , as would Klein, if Africans got richer.

        • Monbiot? Jesus give me a break!

          • grougho

            careful, play the ball and not the man, its a fair point Joe R makes in relation to the New Alliance for Food Security and Nutrition.
            Seems to be a similar case of the Green Revolution all over again, and despite its massive promises, it was never really about “feeding the poor”.
            btw. i have looked – several times, and nope it doesnt surprise me.

          • cooldude

            I read the article by George Monbiot and found it full of interesting facts. Just because these facts dont go along with your worldview doesn’t mean they are incorrect. I detect a raw nerve in your defense of your fellow Dalkeyite. Bono is very dodgy as is his buddy Gates. Don’t be fooled by their hifaluthing rhetoric. These guys have their own agenda and they don’t give a shit about poor Africans. They are fronts for the corporate slice up of Africa which is the real story. Thats the real story and at least Monbiot has the liathroidi to cover it.

        • Paul Divers

          buller buller buller!

      • Paul Divers

        You are beahving like an arse who is not at the races.
        Blame yourself and look in the mirror.

      • Paul Divers

        Because we can’t stand Bono we are branded as subversives.

        Sounds like the simplistic logic of FG.

        What aye knob you are.

      • Dorothy Jones

        Ah David, calling Bono critics names is a bit of a cop-out. I know he’s your neighbour and all…but still. That picture of him and Ali in that Louis Vuitton ad in Africa is pretty spot on . But hey ; I think Bono puts it best in this Headline:

        Bono defends U2′s tax arrangement: We are in ‘total harmony’ with Irish government’s philosophy :Bono has made a fresh defence of U2’s tax arrangements, claiming the Irish government would ultimately appreciate the band’s decision to offshore a share of its income through the Netherlands.

        Yeah Bono, you ‘n Apple and Google and yer tax, ahem, strategies. Pass the bucket.

    • EugeneN

      That data is suspect precisely because it asks people to describe how often then were short of an item: always, often, occasionally etc. All somewhat subjective. A reduction in days of need from say 90 to 45 may still be registered as often. Or occasionally, or sometimes.

    • Paul Divers

      The fact McWilliamms is desperate to promote Bono is enough to make sure we are literally sick of these Irish losers and their silly billy followers. They are losers who mean nothing. I’d not be surprised to see them at Ibrox cheering against the hoops. The ultimate betrayal to any Irishman and I am certain McWilliams is a Hun to the core. Good luck to him. The little ranger

      They have no sense of shame and it is time we slapped these stupid fuckers to their senses. They don’t belong. If you are not insulted by now then you should be! The ultimate plastic Paddy who does not understand his audience

      What a complete loser.

      Know your history, listen to the songs and be somebody.

      Learn about Bobby Murdoch and Billy McNeill. See their Irishness and be proud.

      And fuck the wankers who were never there.

      I was. It was good.

      If you are good then you will be given a chance to play football The Glasgow Celtic Way!

      And if you saw the super team of europe in 1972 then well well. But you didn’t. I did.

      Any they were the best of them all. No kidding. Awesome personified.

      http://www.youtube.com/watch?v=azghP1daq6s

  8. Deco

    We had an excellent standing in Eastern Europe once, also.

    Then we found out that useless maFFia politicians were buying up real estate there.

    We should be careful, with regard to our reputation. There is a gombeen element in Ireland that will use it to get what the gombeen elements always wants – “something for nothing”.

    Experience of Irish business will give Ireland a name for corruption that will make the locals shudder – even in the context of their existing corruption.

  9. Deco

    Corruption will make sure that Africa gets nowhere.

    And the City of London, knows it well, and relishes being able to make money from resource booms.

    And financial centres like Zurich and Bermuda get the other half of the trade – with secret accounts.

  10. Afternoon all

    Why does a good story like lots less people suffering from malaria or aid working in areas like HIV prevention and basic education, why do these stories attract so many violent reactions?

    I am genuinely bemused

    David

    • michaelcoughlan

      This post is a bit like bonbon twisting what was said originally. Your article suggests that Africa is a good place for Irish business to move to. You may be right in that there are many areas which Irish business can export there but it still remains a very misfortunate continent.

      Michael.

      • redriversix

        Hey Michael

        “Misfortunate” is certainly one way of putting it..!!!!

        The media doesn’t report a quarter of what is going on down there…..

        Think the “Home office” once described Northern Ireland as “misfortunate”..!!!

        Peace

      • Paul Divers

        Just making an apprearance for the sake of it. typical stroke from a wannabe politician.

    • Joe R

      Because it is not news and contains no worthwhile analysis?

      Main reactions hereabouts seem to come to Bono being dragged into it.

      One question has Bono recently assumed the mantle of a God like entity that cannot be questioned?

    • 5Fingers

      It is simply not true.

  11. Blair’s kiss of death , Michael

  12. redriversix

    Africa

    Which Country ?

    OK,so less people are dying from AIDS Etc…but a investment opportunity..?

    The D.R.Of Congo ?

    Torn apart by Civil War for over 20 years with over twenty groups fighting Government Forces,”March 23″ group being one of the most organised,which spills into neighbouring Countries and creates all kinds of humanitarian,Blackmarket & morale issues

    The heaviest fighting in recent years is in the east of the Country.

    Their are 17,000 U.N Troops involved in the biggest “peace keeping” operation in the World ..now they number are to be boosted by a further 3000 U.N troops who,for the first time will be involved in offensive operations alongside Government Congolese troops….

    Reports of deaths vary wildly since , say 2004,but most agree the numbers killed in the last 8/10 years exceeds 5 million.

    The Congo also reeks of C.I.A N.S.A Bechtel,K.B.R & Halliburton..Gazprom is also rushing in to help the good citizens of this land that God forgot.

    Libya….Civil War

    Somali….? [not going to bore you again]

    Eritrea..? =War
    Rwanda=War
    Mali, Sudan,Horn of Africa.. WAR..WAR WAR [or insurgency if your sensitive]

    Liberia,Niger,Algeria,Nigeria,Serra Leone…War..WAR WAR

    America & China are quietly slugging it out down their with cheque books and promises of security in return for “an auld go at their resources”..!!!

    I could go on but i won’t as don’t want to bore you……

    Sorry David..love you to bits man..but this is one lazy fuckin article dude…

    Any way..Africa [ terms & conditions apply} is a basket case and the West is not finished fuckin over our African brother so hold on to the old cheque book a little while longer…

    Have a great evening,regards to all

    Barry

    • michaelcoughlan

      Maybe he was thinking we should provide security services, start making coffins, bullets, prostetich limbs etc…..,,,

      I know we will set up a company clearing landmines!

    • EugeneN

      And yet the stats show that most countries are growing at 4.5% a year per capita, about enough to double their GDP – and income per capita – every 12 years. Parts of Africa are already richer than parts of Europe.

      • redriversix

        Statistically speaking…….

      • redriversix

        Statistically speaking…….of course

        • EugeneN

          Statistically speaking, yes. How else would you measure it?

          • redriversix

            Sorry Eugene

            No disrespect intended….

            I have seen how a lot of these “stats” transfer “on the ground”

            and they never seem to agree or transfer into anything tangible “on the ground”

            Barry

      • michaelcoughlan

        Thats because the population is growing. It just means more people eat more….. Hey presto economy grows!

        Economies are not the result of design by plan as a building is by architect.

        They are organic in nature. They will continue banks or not because people need to eat and have to produce goods and services to exchange for tradable items or food itself.

        • EugeneN

          The population isn’t growing as fast as the economies. Populations are growing about 1% a year or so, as far as I can see.

      • It is as I learned it, called the rule of 72.
        divide the interest rate into 72 and you will arrive at the time in years for a double to occur.

        72/ 4.5 = 16 years rather than 12 years.

        however this is a stat based on the increase in the amount of money used. If THE INFLATION RATE IS 6% THEN THE COUNTRY WILL BE GETTING POORER.
        we also know that inflation benefits the rich first and there are little benefits to the poor from inflation. It is a good bet that the poor are getting poorer rather than better off. Of course the advent of medical aid means they are living longer so likely there are now more of the poor than before!

  13. michaelcoughlan

    It will be very funny to see how bonbon will twist and warp this article to suit his own agenda.

  14. redriversix

    Funny how the U.S has given are of operations to different “specialists” within its Military.

    Security for the Horn of Africa,Somalia,Eritrea,Ethiopia etc is under the A.O of Navy Seals.

    While Libya,Niger,Tunisia & Algeria i.e North Africa is the “Area of operations” for .U.S Delta force

    They are the boys who carry their blood type on their boots…!

    Any way..yeah …Africa.fantastic..Operation Enduring freedom & all that

  15. Paul Divers

    What a load of cobblers.

  16. joe hack

    Whatever that man? – “Who speaks in fluent bull shit”- is or is not – your article and subsequent comments a shameful I suspect you may have pondered this by now.

    Please don’t equate u2 jingles with “Joyce, Beckett, Heaney – those cultural names”

    Nor was Joyce’s (Jesuit) education much different to that after folowed1926. – “And I mean this little grubby 1922, 26 county State. All the others Joyce, Beckett, Heaney – those cultural names that are knwon around the world and we like to talk of, none were born, brought up and educated in this State after Independence.”

    To suggest with clarification the people should turn to Africa for investment – “Where the nuns and priests led, Irish business should follow.” – Oh my please don’t inflict that on Africans.

    “In the commercial world, where growth is moving from the rich countries to the poor ones, stranger things have happened.” – Lets smash what semblances of governance they have by first breaking them up with war poxy proxy wars – so we can have free run at asset striping them as was done in the good old days – ‘where the nuns and priests led’

    If you want non profit opinions on bono who was educated? in mount temple -
    here a link: http://www.theguardian.com/music/2013/sep/22/bono-campaigner-u2-global-poverty?commentpage=2

    Remember those that rarely write positively about bono make money as much as those that write negatively about him…
    Here are some samples of non profit opinions on bono:

    “”"”Bono: What drives him?”
    A chauffeur?”"”"”"

    “””””krasner
    22 September 2013 9:02pm
    This comment was removed by a moderator because it didn’t abide by ourcommunity standards. Replies may also be deleted. For more detail see our FAQs.”””””””

    “”””””””””””LordJimbo
    22 September 2013 6:30pm
    Recommend
    15
    As an Irish person I have to say Bono’s response to the question of the offshoring of U2′s business activities really made me want to vomit. This line in particular illustrates perfectly his irreconcilable duality: U2 is in total harmony with our government’s philosophy.
    What sort of activist would even cite such a line?
    U2 benefitted for years from the artists tax exemption in Ireland, they also continue to live a part of a year in Ireland which is a relatively peaceful and successful country (despite economic collapse) while that low to no tax government philosophy he cites has all but doomed generations of Irish people.
    His self-serving line turns my stomach even more when I think of all those people who had no choice but to endure the government cuts and higher taxes (including a blind couple who were featured on the national news who had their benefits reduced) while Bono has more money that he can ever hope to spend in 100 lifetimes. When the band were needed to stand with the Irish people who had purchased so many of their concert tickets and memorabilia over the decades, they were nowhere to be found, all we got were meaningless platitudes like ‘we can get through this’ (Dublin, 2011).
    While I salute his work in Africa which undoubtedly has saved lives, and while he has a sense of justice (however confused) the business decision to relocate totally undermines his credibility, weakens his negotiating hand (do what I say, not what I do), while his off the wall views on capitalism, the same system that gave us the 300 million African slaves and the continued indebtedness of that continent all casts a long shadow over his efforts but that is the duality for you at least the German anarchists knew what they were about.”””””””

    • joe hack

      “To suggest with clarification” should read To suggest without clarification

    • DB4545

      Joe Hack you couldn’t have tied it up with a bow any better. Bono? Great showman brilliant performer. He’s welcome to every cent he’s earned. All I ask is that he shuts the f**k up lecturing the rest of us on what he sees as “our” moral duty. As I’ve said before Michael O’Leary is a self admitted ruthless little b***ix but as far as I know he pays his taxes here. Bono wants to be loved but wants us to use our money in the process so he can bask in the reflected glory.
      If I recall correctly a few years Bono was lecturing the banksters on the benefits of debt forgiveness for the third world. Someone pointed out that the mortgage paying average joe( i.e. You and me) would have to take up the slack so the banksters could maintain their profits. I’m happy to help anyone I can but why empty my wallet to help a third world
      country when their own politicians are bleeding them dry buying fleets of F16′s and
      depositing the commission in Geneva?
      I have a huge amount of respect for David McWilliams. He was warning the country for years about the impending bubble and nobody listened. But I’m forced to agree that this was an ill thought out article. I wish Bono well in persuading the good citizens of the Netherlands to become ragged trousered philantropists. They may be liberal but they’re not stupid and they don’t suffer our fatal personality trait. They don’t need other people to approve of them like some poor child with low self esteem. In essence Bono use your own money and f**k off to Holland.

  17. bonbon

    Besides the recent illegal war on Africa, Libya, by Obama and Hollande, USA and France, we have now this :

    Obama’s Half-Brother Malik Obama Under Investigation in Egypt for Oversight of Muslim Brotherhood Investments

    The destruction of African countries continues – the British Empire’s playground and toys for centuries.

    And worst of all, the pure evil of the EU :
    EU Rejects Transaqua Water-Transfer Project for Africa

    This project along with the Sud Canal begun and destroyed by terrorism, has been on the table since the ’60′s. Diverting 10% of the Congo to re-flood the lake opposed by the green dictatorship of Brussels this week.

    And the pure EU-colonialism of Desertec to use Morrocco to destroy the nuclear backbone of Germany and others. Merkel has cut the very basis of Germany’s progress. And DMcW misses it completely! Never mind Bono!

  18. joe hack

    I just hope the Africans bring in something like glass steagall before they get any more screwed by the Irish and others – investment without borders…

  19. Migrants from Africa arriving in Lampedusa granted Italian Citizenship

    …with a twist that is, as only those dead already were granted with that honor:

    http://euobserver.com/justice/121681

    I am somewhat certain that one of those god fearing upright and clever Irish business souls will come up with appropriate slogans for THE BLACK STUFF to be sold in vast quantities to the Sahelzone.

    Look to Africa, it may suprise you.

    • joe hack

      “But for the survivors, crammed in a refugee centre hosting four times more people than its normal capacity, the situation remains dire. Under a law passed by the previous centre-right government, “clandestine immigrants” are considered illegal and have to pay fines of up to €5,000″ http://euobserver.com/justice/121681

      Not if there dead as they then become Italian – a morbid do-good for the Italians

      The printing of money is weakening to poor even more….I feel
      helpless

  20. Adelaide

    May I be so bold as to suggest a reason for the adverse reaction to David’s article.

    I reckon by this stage, on my own anecdotal experience of travelling about the country, is that the sense of the ‘collective’ as in ‘we’ ‘us’ ‘society’ ‘country’ ‘economy’ is dead. People are getting economically hammered and see no ‘collective’ in action, indeed the opposite. All talk from high of improving our lot is treated with disdain after years of spin and lies and ineptitude. Indeed any proposals of improving our lot is viewed with suspicion and sniggering anger. The phrase ‘good for us, good for the country’ is now translated as ‘good for a handful of us, good for Dublin 4, and to hell with you’. I believe that this absence of the ‘collective’ will poison the life out of the country unless we rip it up and start over again, but I believe the damage is deep and I’m not overly optimistic. I heard a catchy saying that sums up most people’s attitudes about the ‘collective’ in these austere times, “Those who care don’t matter, and those who matter don’t care”

  21. whatamess

    How’s Tony?

    Whale watching I suppose…lucky man !

    It wasn’t my intent to “skate around” the issue of Glass Steagall as you mentioned in the last article?? I’m behind the curve myself,but I will TRY give you my insights..

    EACH emergency bank RESCUE only increases banks’ confidence ,that they will be rescued in the future, creating a cycle of repeated booms, busts, and bailouts. Light touch regulation and dirt cheap money encourages banks to take on ‘enough’ speculative risk that threatens the entire US economy and so the world economy!

    “If they’re too big to fail, they’re tooooo big!” (Alan Greenspan) and to say that these “big players” have “reform fatigue” is an understatement. We know this !Nothing new there! Bear with me..

    “A lot of our problems are caused by “ being blackmailed by the too big to fail rhetoric” ,you said Tony ??? Well i’m not blackmailing anyone:) “Just the fax maam, just the facts!” (“Die Hard”)

    A Fact: At the end of June 2009, 5 banks together had over 95%
    ( yea,nineeeetifiiiive %, of the market for derivatives contracts traded by U.S. banks, led by JPMorgan Chase’s 27 % share. WOW! Nothing new to you I know..I’m just TRYING to give you and anyone else reading this my ‘snap shot’ overview of the status quo ,then.They have ALL grown since !! in a BIG way !! i find that worrying !!

    Tony,you suggests that “DEBT is the fiat debt based fractional reserve ponzi scheme we call money” , but I might say , or add to that ,and say it’s ALSO “ the ENORMOUS growth of top-tier financial institutions and the corresponding increase in their economic and political power” is at the HEART of our problems.

    Effective REFORM must address the two basic elements that created the last crisis and ABSENT change, will ,chances are, create the next crisis !!!! factorama!

    post again soooon

    • whatamess

      SO in no particular order of importance…I’m just ad libbing here and copy and pasting as I go

      What Glass Steagall WILL do !!!(I’m no expert I hasten to add )

      1.important objective must be to protect the economy ,as a whole ,from the systemic risk created by enormous MEGA banks. Excess optimism, debt bubbles, and overextended banks will likely be with us forever !!! That’s being REAL! Our goal must be a financial system where those banks CAN fail WITHOUT being able to hold up the ENTIRE economy.

      REGULATION will help here!

      2 The “self calibrating” banks are using risk assessment methods that suit THEM wonderfully. E.g. Value At Risk (VAR) is essentially on the chopping block..it’s being MANIPULATED hugely by the banksters! REGULATION ought to rein that in…. ”life’s a game of inches” as Al Pacino said !

      3.MEGA banks are FREE as a bird to load up on risky assets overseas, out of reach of U.S. protections ! Not good news if there’s another crisis and bailout ! Like S.Quinn as an example with properties in Russia…REGULATION can help here too !

      4. Title 1 of Dodd Frank authorises the Fed to force financial companies to CHANGE their activities — including their scale and scope — when it is determined that the institutions couldn’t be resolved in an orderly fashion through the standard bankruptcy process. That’s REAL!

      5. CHANGE BANKS “ACTIVITIES” FROM INVESTMENT to COMMERCIAL. Ought to be point #1 really …self explanatory

      6. Looking at the COSTS, both direct and indirect, of the Lehman collapse, it’s clear that running ANY one of our big leveraged financial companies through bankruptcy would cause major economic turmoil! Title II of Dodd-Frank creates a RESOLUTION mechanism known as “orderly liquidation” that would be administered by the Federal Deposit Insurance Corp.
      A $ saved is a $ earned ! …scale of $100’s of million here …Again,not a silver bullit ,but life’s a game of inches !

      rant almost over

      • whatamess

        7. Keep It Simple Stupid ( i.e. KISS Principle )

        In ‘simple’ terms ok ,as it’s SO complex !!
        Let’s assume Bank A has a leverage ratio of 10% and all of its assets are US Treasuries and Bank B has a leverage ratio of 10% and all of its assets are subprime mortgages from Detroit. Which bank is more risky?
        According to the “sharpest financial intellects” pushing for a SIMPLE leverage ratio requirement, these institutions are equally risky”.

        Some even argue for leverage ratios of 30% ( currently 2 to 3%) but that’s “quixotic” or not a real world contender ! 30% is waaay too tough a sell! Gotta be realistic and be willing to compromise!!!!!!!!!!

        GS could deliver,in time, 10% ?? What a victory it would be ! How SAFER it would be! ( death of a thousand cuts for the banks is what GS can deliver ?? Level the playing field…LESS RISK!!!!! )

        6.The net capital rule by SEC can make FURTHER strides to 1)ensure brokers and dealers MUST be able to meet their financial obligations and 2)value their securities in a way agreeable to REGULATORS and not their own self serving interests !

        GS/Regulation will help here !

        7. “Banks should have equity capital equal to 20-30% of total assets, with NO risk weighting. That would provide a sufficient cushion to greatly reduce the likelihood of insolvency in the event of another panic or crash, and less reliance on debt would take away some of the “heads I win tails you lose” mentality. Best of all, if you raised capital requirements to this level, you could do away with Dodd Frank and the chimera of micro-regulation that it enshrines. Yes, equity capital at this level is more expensive than debt, but all that means is that the banks would be bearing the costs of the risks they take RATHER than the taxpayers. “

        REGULATION could deliver that and again make things safer ! yes SAFER!!!! More STABLE!

        8. “The bill would actually help small banks, because it would force the taxpayer-subsidized megabanks and related financial companies to break up. Anything that tilts the playing field back toward smaller financial institutions is good for the SMALL BUSINESS SECTOR ….. although it would take a long time to filter down in REAL terms I suspect ! But what do i know ?!!

        • whatamess

          These banks are “shape shifters”, adapting their models to grab an unclaimed basis point ANYWHERE in the world one appears.” That’s the nature of THIS beast!!! KNOW YOUR ENEMY !!Understand that REGULATION is NOT designed to catch every rain drop !

          “The banker’s sweet shop” :
          Subprime lending,
          mortgage-backed securities,
          collateralized debt obligations (CDOs),
          and credit default swaps ( CDS’s)

          “all of the above flowed naturally from the banker’s business model, and With ABSENT fundamental reform, there is ZERO reason to believe that self governing banksers will refrain from inventing NEW toxic products and precipitating another crisis in the future !”

          We need to use the LAW to deal with the banks or history will repeat itself !
          And yeah, maybe GS is a “David and Goliath” battle….. Remember the fighting Irish !

          Book called 13 Bankers

          FREE !!! worth a read !!

          http://www.keepandshare.com/doc/3537847/13-bankers-the-wall-street-takeover-and-the-next-financial-meltdown-simon-johnson-james-kwak?dn=y

          Reinstste Glass Steagall , NOW !

          7th austerity budget Tony…when will it end ?

          Fuck it lads ,I’ve 2 dogs and they know the RULES and BOUNDARIES and RANGE of behaviour that will be tolerated.
          WE HAVE THE LAW ! WE HAVE DEMOCRACY!

          Respectfully Tony, please don’t suggest that whatamess is only promoting central banking policy under the guise of reform.

          PS. Michael Mc- respectfully, don’t reply to my post with ad hominem attacks as this contribution took me 3hours to build. Thanks in advance .If you don’t agree with my choices of battles that i fight, fine. You fight your fight and i’ll fight mine and maybe we’ll bump into each other on the battleground ok.

          • michaelcoughlan

            Hi,

            I’ll tell you what like I said before I’ll agree to differ.

            Once again IM NOT OPPOSED to Glass Steegal.

            There is no denying your sincerity. Also no one has a monopoly on
            Knowledge which includes me. If it’s true that your ideas work then I’m very happy to eat humble pie and be proved wrong.

            I’m just scared right now because the teaparty guys are eyeballing Obama and I don’t believe that Obama care is the issue. I think the tea party crowd are terrified of runaway borrowing.

            It’s now stated clearly that the us is one Enourmous hedgefund. McWilliams identified Anglo as such and it popped. So will the states.
            If You need someone to sign a petition or demonstrate for the remplementation of GS I’ll sign and march with you.

            If however your ideas are proved to be unworkable this side of an Enourmous clear out your help for my points of view will be appreciated.

            Regards,

            Michael.

          • michaelcoughlan

            Regarding ad Hominem the following may be worth observing;

            “Actual instances of argumentum ad hominem are relatively rare. Ironically, the fallacy is most often committed by those who accuse their opponents of ad hominem, since they try to dismiss the opposition not by engaging with their arguments, but by claiming that they resort to personal attacks. Those who are quick to squeal “ad hominem” are often guilty of several other logical fallacies, including one of the worst of all: the fallacious belief that introducing an impressive-sounding Latin term somehow gives one the decisive edge in an argument”

            I’m happy to stear clear of the useless rhetoric if you are. I come on the forum to learn. I can only do so knowing I’m imperfect. It would be a logical fallacy to believe otherwise.

            I’m more a student of human nature and as humans we tend to act emotionally not logically. Look at me posting at 3.47am.

            Michael.

          • whatamess

            cheers Michael for your reply

            it’s a new article by our host so u may not see this

            next article is right up your ‘alley ‘ i’d say

          • whatamess

            and Michael it’s only Latin

            nothing impressive about it really

            Christian brothers drummed it into me for 5 years yunno

          • Hi whatamess
            Thanks for all your comments. Lack of response is because I have been digging ditches all day. Gets tiring!!

            My point is very simple.

            banks get their money from deposits and loans. the deposits/loans are used as reserves and the leverage allowed the banks means they can create huge voumes of money to loan for any conceivable purpose.

            Removing the right to fractional reserves money creation removes the right for derivatives and massive debt based lending.

            It cuts the legs off the necessity of all other regulation.

            There is no compromise allowed the banking system. They are out to enslave. I prefer freedom. no compromising with that. freedom is not being partly enslaved because this or that is not so bad.

            The central bank is the core problem. NOT ONE OTHER PERSON OTHER THAN COOLDUDE ADDRESSES THIS POINT. The BIS is the central banks central bank. Privately owned with diplomatic immunity. it must go . The IMF is a central bank tool. when was the last time policies of the IMF caused a benefit to the country so encumbered with IMF regulation.

            There is no compromising with the enemy out to kill you. It is them or you. Your choice.

  22. Ryu Hayabusa

    Hello,

    Blair and Sarkozy were jostling for position in the love-in they partook in with Gaddafi a short few years back. As soon as the wind changed Sarkozy denounced him.

    2 years earlier Little Nicky was so far up Gaddaffi’s ass he could see Tony Blairs shoes!

    That french midget is a reprehensible little toad!

    Aussi, Quelle grande pif!

  23. Ryu Hayabusa

    Hi,

    Africa has potential, no doubt about that. Nevertheless the polarisation between rich and poor is staggering.
    Hundreds of years of colonial devastation have stymied the position the continent should be in, case in point being the hundreds of poor souls scuttled off the isle of Lampedusa in recent days.

  24. mishco

    Bad idea to mention Bono, David, as usually all that people will reference is his money and how he “conserves” it; and I have to agree that some of his ideas on spending it are a bit misguided.

    But I suppose the same could be said for any philanthropist. They’ll never get it right all the time, especially if they’re not even from the same continent. Still, I think the Gates’ Foundation is doing quite a few positive things for Africa. As are many, many Africans, like this scientist:

    http://allafrica.com/stories/201309090428.html

    or the three Africans who have won the Nobel Peace Prize, especially Wangari Maathai. In a continent still based on tribes and small communities, it is people with “grass-roots” groups and activities who for me hold out hope of successful change, despite the centuries-old meddling of outsiders and corruption within.

    As for the idea of an African “diaspora” returning from Ireland, this could be most useful (for Africa) if we are talking about highly-trained professionals like doctors and scientists. Of course this has been going on in a small way for many years, and should be encouraged more, especially in fields like agriculture, which have a direct relevance to
    Africa’s benefit. To think of them as “middlemen”, though, I find a bit misguided. Likewise the concept of any African country as an emerging market (though it may well have some according to the FT) is very much a Western concept, based on our self-interest, not Africa’s.

  25. mishco

    Maybe Bono was a bad choice as an example, though it could be argued that some of the money he would otherwise have given to Nama has ended up in Africa to do some good!

    No philanthropist will make all the right choices, but I think the Gates’s Foundation has helped ordinary Africans in many ways. And there
    are many Africans helping themselves and their communities. Like the late Nobel Peace Prize-winner Wangari Maathai, or this research scientist: http://allafrica.com/stories/201309090428.html, to give just a couple of examples.

    Africans returning to their homelands from Ireland to benefit
    the former is something which of course has been going on for a long time, if we are talking about doctors, agriculturists and other relevantly-trained people. But I think the idea of looking on Irish-based Africans (even if they are graduates of business and industrial training here) as “middlemen” is misguided. The FT may well be talking about “emerging African economies”, but the real Africa is not like this.

    African countries are still a mass of tribes and small communities with little regard for what we’d call a “nation state”. If an Irish aid organisation goes out to help these people in these communities (as they do, sometimes pretty well), then they too will be welcome ambassadors, like the trained African professionals returning to their homelands. But let’s not rehash the worn concept of “mutual self-interest”, where in reality the interest is almost all in one direction, towards the rich, and out of Africa.

  26. michaelcoughlan

    Hi David,

    If you read the following link where it explains why there are so manny farmer suicides in India and Africa resulting from western business practices controlling farming through forcing the use of genetically modified seed on them you may begin to understand why people are so hostile re Africa.

    http://www.globalresearch.ca/the-seeds-of-suicide-how-monsanto-destroys-farming/5329947

    • michaelcoughlan

      By the way whilst I slagged Bono recently calling him god I don’t have strong opinions on him one way or the other.

      I think One is one of the creates songs ever written. I have always found it amusing that he draws the ire out of people. He doesn’t have that effect on me.

      I will tell you this though if he’s supporting
      people foisting GMO on Africa he should considder eating humble pie because once the genetic blueprint gets into the seed the farmer has to pay a license fee from all crops thereafter EVEN IF HE SAVES THE SEED HIMSELF putting him
      at the mercy of the corporations who only have profit maximisation as THEIR sole aim which as sure as shite dosent included feeding the poor who can’t afford to pay for the crop or GMO seed in the first instance.

      Sincerely,

      Michael.

    • EugeneN

      There is a counter argument that Africa and India need GM, and opposing GM is the quasi-imperialism of the Libreal paternalistic leftist Western elite.

      • michaelcoughlan

        Ok thanks for this.

        I’m not left wing but I’d be very interested to see your evidence.

        Michael.

      • cooldude

        Read what Michael is saying. It’s all fact. Monsanto and palls are trying to get total control of the global seed system which will lead to inevitable control of the global food supply. Do you know that not only does the farmer have to pay an annual license for his seed he also has to deal with the fact that it is impossible, due to deliberate genetic manipulation, to use the seed from the GM crops. In other words these crops are deliberately designed so the farmer cannot ever use his own seeds. He becomes a slave to Monsanto or dies which is the option being taken by huge numbers of young farmers particularly in India when they realize that their only future is slavery to Monsanto. This whole GM thing stinks and NO studies have ever been done to show their safety. On the other hand there are countless studies showing the harm these foods have on animal and human health.

        Also have a look at Bono’s buddies in the One organization. Condaliza Rice is one scary war mongering bitch and Senator Lindsay Graham wants to attack every country on the planet and kill as many women and children as possible. Bill Gates is also a very dodgy character and is a large shareholder in the evil Monsanto empire. George Bush and Tony Blair are both war criminals with the blood of millions of innocent civilians spilt because of their deliberate lies.

        I will give you a link to some facts on GM foods so you can make an educated opinion on whether these frankenfoods are beneficial to our race or not.

      • Paul Divers

        Opposing GM makes you toxic apparently. The very worst type of begrudger that stands in the way of Irish ingenuity and imperialism.

        Like those who were cheering in the Senate about the killing of a mentally ill woman who happened to be black. Bloody begrudgers.

        This is what you are voting for. In Ireland you are no better because you are voting by proxy and supporting the crap that goes on to pay your pensions. Like Libya. Blind eye.

        You have to accept you are lying hypocrites and that your morality commands hypocrisy.

        Indeed. The church got in first and now idiots like McWIlliams and God have realised they have the chance to make the old imperialists look like Tom Sawyer

        You are being deceived. Royally. Yet you all pretend to be nice but you are following some agenda.

        Hullo hullo we are the silly boys!

      • GM food crops are modified to withstand heavy herbicide treatment.
        The herbicides poison all.
        The weeds are poisoned and killed.
        The micro cilia in the soils are poisoned and killed.
        nutrients and minerals are no longer brought to the surface for the use of crops and healthy growth. The very soil is poisoned and made sterile.
        Crops that are grown contain Glyphosate in the food which enters the bodies of the crop consumer. such animals are intern consumed and all are poisoned.

        rodents fed a diet of GM food were sterile after 5 generations.
        Those fed a diet free of GM food saw no change in fertility. Those fed a diet of mixed GM food and organic had reduced fertility.

        GM foods grown with the aid of herbicide are a toxic poison.
        http://www.globalresearch.ca/monsanto-roundup-the-impacts-of-glyphosate-herbicide-on-human-health-pathways-to-modern-diseases/5342520

    • Paul Divers

      Now we are cutting through the nonsense Michael.

      Can you imagine there was no internet, no blogs and discussion forums as it was decades ago?

      Today we have the chance to show up the MSM rather than follow the liars. We have all the info we need even though 90% of the important stuff is hiding behind official secrets acts and 95% of the population are too thick or selfish (like McWilliams) to care.

      GM is a no no. Scientists at the University of Limerick recently came up with a solutoin that renders GM obsolete.

      A triumph of Irish origin yet we never hear a word about it.

      Of but that is all the talk of begrudgers and conspiracy theorists. You wouldn’y want to trouble your head with that sort of talk!

      Just go to work son and stay shut. We’ll take care o business.

      Don’t worry your head.

    • Paul Divers

      He never reads links and appears not give a flying. An authoritarian FG sleveen I’d guess. Tory. Save your energy for the people who like reading your posts Michael. Who knows, we might all be meeting up on another blog soon if this guy keeps up his pretence.

    • Paul Divers

      After this article the only sane conclusion is that this boy is a bit of an idiot. Arse is a better word

  27. joe hack

    I not feeling much love here…

  28. Paul Divers

    I don’t read these articles but scan them to get the gist as I do with all my reading. You can’t remember every word of every book you read but you remember the structure. And the gist.

    There is substance on some of McWilliams work (the first two months of 2013 were good) if you carefully read between the lines but as someone once said why would you want to read the work of someone who sounds like a 14 year old?

    The outburst about begrudgers above makes him look like a silly wee boay who does not have the courage to engage with the grown ups who contribute to his blog and help shift books. He is above engaging you see

    He is not only out of touch – he is a stranger on his own blog. I call that irony and a trap. Trapped by success and ego. It’s very sad

    When I get up in the mornings to go my internship at the council and have look out the kitchen window before leaving I shall smile knowing that I am a begrudger just because I hate that arrogant, fat, talentless fuck called Bono.

    And I will smile even more when I remember the gist of this article and how our contributors tore our man to shreds.

    Love and Kisses David.

  29. Paul Divers

    General concensus on Bono :
    TOOL!

  30. Paul Divers

    This article is turning out to be a total disaster. A train smash.

  31. Paul Divers

    Accept the ideology you chose and live with it.
    Best if you still believe choices made when you were young.
    Keep The Faith.

    How to grow old gracefully.
    Girls in their Summer Clothes

    http://www.youtube.com/watch?v=J8PB1a1c9zA

  32. michaelcoughlan

    It’s a pleasure not to have bonbon running amok on the blog.

  33. Sad news, Philip Chevron has died. I thought The Pogues took Anglo-Irish punk to it’s logical destination along with Dexys.

    A sober night of reflection and reminiscing ahead, they were the soundtrack to our squat in Hackney in 1983. Very sad news, even if expected. Rest in peace.

    “Faithful Departed” Christy Moore:

    http://www.youtube.com/watch?v=JnXSrKOc3QY&feature=share

  34. Ryu Hayabusa

    Think everyone just needs to have a re look at these tasty treasures and then Bono will be a grand ‘ol bloke once again!

    http://www.youtube.com/watch?v=ybYgP48X2DY

    http://www.youtube.com/watch?v=mM9fU-q3TTs

    Don’t think anyone will dispute U2 have left an indelible imprint on the musical landscape and put the country on the map especially when they were in their pomp.

    It’s just that on his windy Philanthropic journey Bono has had to rub shoulders with some pretty nefarious characters.

    He will maintain that the end justifies the means no doubt.
    I confess to being a fan of them but I respectfully don’t concur with the begrudgery aspect in rebuking some of his antics.

    He can be a bit preachy on our foreign aid matters for instance, while for example their royalty revenue is decamped offshore to Holland
    (And we appreciate the difference between one’s individual hat& corporate entity hat but it still sticks in peoples’ craw.)

    On a lighter note I remember the fiercely contested debates of the ‘They’ve gone as a musical force post the Joshuah Tree’ post mortems that were doing the rounds especially in schools… where I often debated forcefully in their favour I might add.

    Concurrently though, if he’s being a prat I reserve the right to exclaim “Oi Bono pull your neck in mate!”

    Yours set the record straightedly,

    Concerned Irish Citizen. :D

  35. Ryu Hayabusa

    Hi,
    Excellent point raised above re Jobbridge Initiative

    http://www.thejournal.ie/jobbridge-internships-1090183-Sep2013/

    There was an article in the current Cork Independent outlining where Cork City Council has utilised 64 Interns in the scheme since July 2011 and not one has secured a job at the end of the process! Not one NADA, ZIPPO, Ner Uno.
    To say that this is a disgusting exploitation of the scheme would be a gross understatement! Constantly we hear of private sector abuse of Jobbridge but this takes it to another level.

    And I don’t care if one of them comes out with BS about hiring moratoriums applying etc. If that’s the case they have no right to participate in the scheme, full stop!

    It’s DISGUSTING and morally reprehensible but not altogether surprising.

    Socialist councillor Mick Barry likened it to a Slave Labour jobs scam.

    One participant, a Science graduate took on a role that promised an equal split between Office and Laboratory work. He was tasked with getting stationary, making up cardboard boxes and other ‘menial tasks’
    He asserts he was treated as a glorified secretary. Entreaties on his behalf about Lab experience were met with fob offs… “logistical issues or union issues blah blah”

    Is it any wonder that various departments sheepishly bat away indignant outbursts about private firms abuse of said scheme when some areas of the Public Sector are ‘showing them how it’s done’ so to speak.

    Overall Sickening, leaves a bad taste in the mouth. Blurrrrrgghhh….

    • Deco

      Well, if the 64 of them failed, then we can be certain that none of the 64 got there because of nepotism.

      Because if nepotism was involved, then there would have been internal politics to see whose pals got the job.

      Sounds like Cork City Council is much less infected by nepotism than in the rest of the institutional state – where it is now completely rife.

      • Ryu Hayabusa

        The real nepotism is more applicable to half the birdbrains in situ already going around with their thumbs up their asses!

        It’s an abhorrent abuse of the scheme which is their main aim to begin with.
        They use it like CE schemes to massage the figures to give a false reflection of the overall position.

        Everyone knows the real unemployment figure if you exclude such trivial schemes, factor underemployment plus the segment of people who they don’t quantify for various reasons is north of 20%.
        But that is broadening the point a bit.

  36. Ryu Hayabusa

    Also Joanne Riordan’s excellent documentary “No Limbs, No Limits” made its debut.

    Joanne is an example of everything that is good and noble about being Irish. She should be supported wholeheartedly.
    Enda Musso-Kenny received an invite but was a no show!

    Quelle bonne surprise? That guy does more bobbing & weaving than Smokin’ Joe managed in his ’73 Jamaican dust up with Georgie Foreman…

    http://www.youtube.com/watch?v=UI8EQTa1cbM

    On that occasion the haymaker was landed.

  37. Paul Divers

    Here is your true history.

    http://www.youtube.com/watch?v=X531Fyi9sKM

    I hope it is emotional.

  38. Paul Divers

    Oh gosh chaps. Why don’t we look to Africa?
    I mean, why don’t we??
    A playground for the buller boys with tory smarts and papa’s cash.
    Absolutely disgusting people.

  39. michaelcoughlan

    Hi David,

    Max keiser 5:20 ben bernanke is a Psychotic.

    http://www.youtube.com/watch?v=QkTb8FrQ9ow

  40. michaelcoughlan

    Hi David,

    It seems one of my posts was removed. Im just curious was it to know was it too close for comfort for someone in the establishment and if not send me the guide for acceptable posts.

  41. whatamess

    Some AMAZING news ,for a change !!!

    http://www.bbc.co.uk/news/science-environment-24429621

    BREAKING NEWS!!

    ACHTUNG!!

    Science fiction makes a ‘quantum leap’ to science FACT !!welllll, a ‘milestone’ anyway…i will try contain my delight of this news !!

    a MILESTONE in producing an energy source that is producing MORE energy that what is consumed ! WOW!

    ITER – “International Thermonuclear Experimental Reactor”
    A £13 billion construction project at ITER producing the world’s first commercially viable and energy-producing nuclear fusion reactor.

    CLEAN , SELF-SUSTAINING ,SAFE , ENDLESS , CHEAP fuel for ALL !! IMAGINE that!!

    A GAME CHANGER!

    BELIEVE IT!!

    the financial elite sure must feel threatened!! Great!!!!!

    let’s hope the oliagarchs dont get their greedy and grubby hands on this technology !!

    This collaboratin of MANY nations ought to be a contender for a Nobel Prize !!

    So it’s Hydrogen to the RESCUE!??

    we sure need the HELP !!

    150 million degrees C !!!! Phew!!!
    that’s HOT fusion baby :)

    • whatamess

      THE

      HOLY

      GRAIL !!!!!

      of energy production anyw\ay

    • Ryu Hayabusa

      Smokin’!!! That’s white hot!
      The 3rd Industrial Revolution needs to be ushered in pronto.

      The 2nd Industrial Revolution has run out of steam, it’s in terminal decline.

      Some are gonna be left with egg on their face but tough titty.
      Dashed unfortunate that. Oh well press on& all that. What what what.

      • cooldude

        Hydrogen as fuel has been put down by the oil industry who are close buddies of the bankers for decades. Don’t be surprised when this scientist is mysteriously discovered dead some day. This is how Bono’s close friends operate. Murder is the first option. After that they use their media contacts to discredit the story and treat the guy like a total looney. Watch and learn my friends.

        • whatamess

          Ah dude !! c’mon

          this is not some discovery made in a tiny lab by a small team of phd students ….

          this is a project with min spend of 13Billion bucks!!

          Let’s “learn” about Hydrogen’s isotopes!

          This is a LIFE SAVER!!!!

  42. DB4545

    This may have come from Frankie Boyle I’m not sure. Bono is on stage, he starts to clap his hands. This continues for a short while and then Bono shouts to the audience “Every time I clap my hands a child in Africa dies”. A Scottish voice in the audience shouts back ” Well stop clapping then ye sick wee bastard”. I think this article by David has suffered from the same law of unintended consequences. Africa has endured an appalling history. I don’t think a pint sized Irish tax exile with his heart in the right place and his money in a safe place who can’t recognise his own hypocrisy is best placed to help this tragic continent.

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