September 15, 2016

'Trumponomics' would mean a hair-raising ride for US economy

Posted in Irish Independent · 131 comments ·

On Monday, following Hillary Clinton’s pneumonia diagnosis, the bookies dramatically cut the odds that Donald Trump will be the next president of the US. Years ago, Bill Clinton said it was all about “the economy stupid”. But is it this time? If so, let’s have a look at Trump’s economics.


Trump’s economics make absolutely no sense, have no coherence and will lead to a massive American budget deficit.


Trumponomics is Reaganomics without the subtlety. Despite being vilified as a lightweight by heavyweight economists, Reagan’s time is remembered as a time of prosperity in the US. Having economists as your cheer-leaders can be political suicide: just ask David Cameron. Reagan, the two-term president, was also responsible for the ‘Reagan Democrats’. These were traditional Democrats who voted Republican in support of Reagan’s vision for America. Could there be hidden ‘Trump Democrats’ out there?


This time around, people don’t seem to care for the views of experts; Trumponomics may be incoherent, divisive and inconsistent, but will anyone care on election day?


In terms of details, Trump seems to break his economic plan down to four categories he plans to reform: trade reform, tax reform, energy reform and regulatory reform.


Bear in mind that, when fact-checked, the vast majority of what he’s claiming about current economic conditions are false. But people don’t seem to care, and he keeps going up in the polls.


His trade reform ideas are based on a fundamental misunderstanding of basic economics and trade. He’s assuming trade deficits are synonymous with job losses. They are not. (For example, the UK has the highest trade deficit in Europe but one of the lowest rates of unemployment.) However, on the stump, bashing foreigners plays well and so he argues that it’s China’s fault that America has a trade deficit with China but everybody knows this is not the case.


He wants to appoint trade negotiators whose goals will be to “win for America”, narrow the trade deficit, increase domestic production, and get a fair deal for workers. He has no affiliation: he wants to renegotiate NAFTA, which corporate America would hate; and he wants to withdraw from the TPP, which the left would love!


Internationally, he terms China “a currency manipulator” but at the same time, he also wants to apply tariffs and duties to countries that “cheat”. Could this be a reference to low-tax Ireland, post-Apple?


Here’s what he has to say on globalisation: “Our politicians have aggressively pursued a policy of globalisation — moving our jobs, our wealth and our factories to Mexico and overseas.”


Here he is on China, underscoring his willingness to use economic policy as a threat: “The 45pc tariff is a threat. It was not a tax, it was a threat. It will be a tax if they don’t behave. Take China as an example. I have many friends, great manufacturers, they want to go into China. They can’t. China won’t let them. We talk about free trade. It’s not true free trade; it’s stupid trade.”


So he believes in free trade, but only when it suits America.


When it comes to personal taxes, Trump is just Reagan with terrible hair. His platform is lower taxes for everyone, making raising a family more affordable for working families. With an eye on young families, he wants to exclude childcare expenses from taxation.


Critically for Ireland, he wants to limit taxation of business income to 15pc for every business.


“Under my plan, no American company will pay more than 15pc of their business income in taxes. Small businesses will benefit the most from this plan,” he said.


On tax inversions and using tax loopholes to attract US companies, he has stated: “Our lower business tax will also end job-killing corporate inversions, and cause trillions in new dollars and wealth to come pouring into our country.”


As for energy reform, Trump’s policy is a drillers’ charter. He aims to cancel the Paris Climate Agreement (to limit global warming to 2C) and stop all payments of US tax dollars to UN global warming programmes.


His views on regulation are pure, textbook Reagan. Is it any wonder the US public sector is staunchly Democrat when Trump intends to “remove bureaucrats who only know how to kill jobs [and] replace them with experts who know how to create jobs”?


“I will have one overriding goal when it comes to regulation: I want to keep jobs and wealth in America.” He sees the dead hand of regulation everywhere, including the banks, when even most of the right wing accept that the 2008 crash was caused by too little regulation in the banking sector.


“The banks aren’t loaning money to people that need it . . . The regulators are running the banks,” he said.


In classic Trump style, he claims not to believe the figures on unemployment. He has stated that the 5pc unemployment rate is “one of the biggest hoaxes in American politics.”


He is going to solve all this by a “trillion-dollar rebuilding programme” to patch up roads, airports, bridges, water systems and the power grid.


When questioned on how all this will be paid for, Trump has moved from saying he would repay the US national debt in its entirety to arguing he would spend $500bn on infrastructure, suggesting that ultimately the US can always default on its borrowing.


“I would borrow, knowing that if the economy crashed, you could make a deal.


“The interest rates are so low?… this is the time to borrow and to borrow long-term. We can have the money and rebuild our infrastructure.”


“I am the king of debt. I do love debt… I love playing with it.


“We can buy back government debt at a discount, in other words, if interest rates go up . . . we can buy bonds back at a discount”


So he says he is going to borrow, but then when you look at his website, it still claims that he intends to eliminate the $19trn national debt burden. Maybe he intends to repay it by defaulting on everything á la Communist Russia in 1919. Remember, Trump has defaulted a number of times himself when he has gone personally bankrupt. So he has form.


He has a personal view of the Federal Reserve and its independent head Janet Yellen. Everything Yellen says is of enormous consequence to the financial markets which in the past two days have been extremely volatile. But here’s what The Donald had to say about her on Monday: “She’s keeping [rates] artificially low to get Obama retired. Watch what is going to happen afterwards. It is a very serious problem. And I think it is very political. I think she is very political and to a certain extent, I think she should be ashamed of herself.”


So it’s anyone’s guess what his economics mean. He holds no position on anything and his views change depending on who he is talking to. None of this makes much sense, but no one seems to care because he has turned the election into a reality TV show. Simply being on camera may be enough.



    He is going to be our next President. No more ass licking of other Govts that hate Americans. It will be sweet. Get used to President Trump. 8 years to go.

  2. woodsey

    @smokey: I’m not a Trump fan but, I fear you could be right (wing?!)

  3. His views on interest rates are the most amusing of all
    1. “Low rates BAD”
    2. “You’re punishing savers”
    3. “But we need to service the debt”
    4. Low rates GOOD”!

  4. Deco

    Every election for the past thirty has become a Television spectacle. That is very unfortunate. Because Televsion, and the culture of soundbites, and depiction of pretence as reality, degrades a ver important matter. It is manufactured pretence and distortion.

    Before the youtube video went viral, the television stations in the US were denouncing anybody who asked questions about Hillary Clinton’s health, as being guilty participants in a “vast right wing conspiracy”.

    When the video went live, it became apparent that there were strong grounds for scepticism.

    There is something seriously wrong with the “system” in the US, when the media has to lie, and then modify the lies and try again.

    Hillary Clinton is part of a corrupt racket that is called the US Democratic Party.

    See, that is not hard to say. Unfortunately, if you say that in the world of the Irish media, the rest of the participants will look at you if you have two heads. The first person who states it gets consequences.

    If the US Democratic were not corrupt, they would not be claiming that the revelations about moving to stop Sanders, was a result of “Russian hacking”. The problem is not the hacking. The problem is the corrupt rigging of the electoral system, to favour one candidate.

    The behaviour of the self-advertised ‘respectable’ media has been dispicable. In particular the Washington Post, which forgives Clinton of every misdeed, and produces a series of disrespectful denouncements on those that question that whis is evidently, wrong.

    What is the Clinton economics plan part from more “business as usual” benefitting speculators that extract large profits, and use these profits to further leverage the degradation of society, so as to further entrench their power, and priveleges ?

    Apart from the cliches and the soundbites ?

    What has happened is that a substantial people have realised that it is all lies, and pretence. Hillary tried the approach that worked for Bill in 1992. And found that the electorate had wised up.

    Colin Powells commentary on the activities of Bill Clinton opens a massive can of worms, about how media avoided discussion of what Bill does for fun. Then there is the fact that the Obamas and Clintons loathe each other in private, and appear together in public.

    Which begs the question, why Obama appointed Hillary Clinton to take over US Foreign Policy ? It definitely was not because they like each other.

    At this point in time, if does not matter what Trump promises.

    It is becomming anybody but another Clinton.

    As of writing this, Hillary Clinton has indicated that she will not step back from the race. The donors for the Clinton Foundation will be pleased. Never mind the people. They are a “basket of deplorables”. They do not deserve the level of respect shown to dodgy donors to a dodgy racket.

    America is in deep trouble, and the people are willing to get America out of the abyss. But they will need to realise that the media was corrupt and pliable, before they will reach that point.

    Sanders and Trump are both deemed as “populist”. The media prefers a “corporatist” to serve the rich, like the media does.

    The problem with corporatism is that it eventually runs out of the public’s money.

  5. Deco

    We have been given depictions of Trump in power, which are versions of Doomsday. The whole thing is BS. Nobody knows.

    Here is one Trump idea. The J1 visas will end. Young people with nice suburban addresses will not be spending the summer in the US, working in bars and restaurants. They will not be going to the US to jobs that they leave for Lithuanians, northsiders and midlanders, at home.

    Trump wants those jobs to go for young American students that cannot afford college (which in the US is not propped up by the taxpayer). And poor Americans on welfare.

    Now, one wonders why they are not taking the jobs currently. Presumably because they are out of the network. Or are maybe too obese for the responsibility.

    But, in any case, with a minimum wage as it is in Ireland, and with there being a supply of hospitality sector jobs, it would probably not do any harm if some people learned how the other half lives. It might even encourage social solidarity in Dublin, beyond the usual empty soundbites and cliches.

    Perish the thought, that Ross and Sorcha, have to work in a pub, taking instructions from Anto and Jacinta on how to clean the floor, before being givem their weekly wages from somebody from a penny watcher with a bog accent Monaghan or Tipperary. It is alright if it happens in California. But it will not happen here. It is an unacceptable form of humiliation.

  6. patricia03

    While the so called experts say Trump talks a lot of nonsense, those who have been shafted by the current economic system don’t consider it nonsense at all. Neoliberalism/globalisation/monetarism have not only done nothing for the majority in the developed world, their life style has been destroyed. All those movements in England, France, Italy, Spain, Greece aren’t complaining about nothing. Even here in New Zealand where we are told everything is fine, very few young people can afford a house. Wages haven’t increased much in years – the attack on the unions in the 1980/1990s ensured that. We have terrible child poverty and there are many homeless people. That never happened in the past. To say Trump talks nonsense is not addressing the problem. If he talks nonsense then it is the job of the economists of this world to develop an economic system that work for the majority of the people. Then the Trumps of the world will disappear. Do you really think that if Trump loses those people who at now so angry will accept it? I don’t.

    • Deco

      For the beneficiaries of Ponzi-economics, the people are always untrustworthy, and must be controlled.

      And that means routinely chastised for daring to question the wisdom of their (bought-up-and-fully-paid-for) leaders.

      Those in the business of speculation do not care about society. They regard it as something to be weakened, divided, and pummelled at every opportunity. So that it will not arrest their business models. Simply put, society is the problem. It is always prone to get angry, after being scelped. Therefor it most be controlled.

      In essence, the opposite of democracy comes about when there is the alignment of greed in one unaccountable element of the private sector, and one powerful state system, via corrupt political and media intermediaries.

      How dare the people be outraged !!!

      Greed and lies are undermining civilization, by providing the values of an anti-civilization as the civilising force.

    • McCawber

      And those that are about to be shafted won’t think it’s nonsense either when they have been shafted.

  7. Deco

    Question – when is the last time any US Presidential candidate ever produced an economic theory that stands up, and makes sense ?

    Maybe JKF ? Every one since has been promising stuff that does not make sense. And the media seems to let them away with it much of the time.

    Most of them will not talk about ugly words like “debt”, “productivity”, “societal costs”. Merchantilism is active in today’s world. Merkel is at it in Germany. With Schroeder you always knew that there was a willingness to prop up weaker countries. Merkel blew that in the water with her treatment of the Greeks.

    If the US does default on it’s massive debts, then where will that leave Merkel’s dictated EU policies that are chaining the Greeks to misery ?

    We may as well, try and get a default in ourselves. Because the Irish public debt is off the charts. We are incapble of reforming the institutional state. The insiders have FF in a key position, controlling the government, and demanding more waste, and extravagance.

    People forget that in the Irish political system, the same mentality that bankrupted the state, is now in the shadows again, making the key decisions.

    The rigging of the system, whereby the 0.01% never lose, maintain control of the political system through corrupt political parties, and have the media declare “there is no alternative”, is running out of time.

  8. Truthist

    A contest between 3 awful main contenders — Trump, Hillary Clinton, & yes the awful Sanders too — is now reduced to being a contest between 2 awful contenders ;
    Trump versus Hillary Clinton.
    If Trump wins, how soon will his Joker — of Batman comic & movie fame — character be mirrored by a pretender to the job of Taoiseach ?

    • Deco

      There is a Batman character called Two-Face. Reminds me of the current FF leader. Green on one side, but loyal to the imperial masters in Brussels, at every available opportunity.

    • Irish PI

      Rumour has it the DNC worried about Killarys “over heating” are looking at getting the smoked salmon Socialist Bernie back in the race.
      BTW much is made of Trumps bankrupcies..Ten companies out of 200 ?? Going bankrupt in the US is not the mortal sin and flagellation and eternal damnation it is here in Ireland.It’s an accepted mistake of human and busisness life.Something David has preached on enough times on here himself.So why is it a big deal if Trump has gone bankrupt too?

  9. Truthist

    Frances Fitzgerald seems to be modelling her deportment style on Hillary Clinton.
    Hints that “The London School of Economics” educated [ "trained" ? 8-) ] Frances is being earmarked to be leader of the Blueshirts ;
    Not the “unofficial” Blueshirts ; Fianna Fail.
    But, the “official” Bluehirts ; Fine Gael.
    The London School of Econmics, The London School of Economics, The London Sch…, …, THE SCHOOL FOR “CITY OF LONDON” SPIES !
    Wake up fellow Bloggers !
    Don’t be thick Paddies !
    Keep an eye on Frances !

    • Truthist

      Maybe I should re-phrase that MI5 & MI6 “schooling” place as ;
      The City of London School FOR SPIES”.
      That is what “The London School of Economics” is.
      Yeah, Frances studied “Social Work” there … ;
      Good cover that.

    • Deco

      So, now I know why she is useless in charge of the Justice Ministry – she was tarined for something else…..

      You are correct. She is being grommed for succession.

      But, she is a useless waste of space. Surrounded by fools encouraging her, to go further.

      Remember on her watch, criminals walked into a central Dublin hotel, shot the place up, in broad daylight, with the media watching, and walked out again….

      ….and the official response was a series of PR stunts.

      Frances Fitzgerald is the pretence of competence.

      • Truthist

        The “Vulgarians” did exactly what our Elite wanted,
        commit a spectacular violent crime
        Thus, justification to make The Land of Ire even more of a “police-state” ;
        Well, … a “police-state” against u & me for the elite’s rule over us.
        That is what the Guards do ;
        They protect the Rich ;
        And, heck, most of them Garda-Landlord / Landlord-Gardai go on to be rich themselves too.
        Frances is perfect for the job.
        Perfect for “stone-walling” an unfortunate citizen trying to get real justice.

  10. Deco

    The Irish institutional state had a plan for Brexit – and it turned out to be a PR stunt that promised a stab in the back at our main trading partner. When they got the result that they were not expecting, they were gobsmacked. Clowns like Charlie Flanagan were seen holding a stupid expression on their face.

    Even more embarrassing, their “plan” was undermined by the inability of the Irish institutional state to provide higher density residential accomodation in Dublin, and transport sector incompetence. There was actually a phsycial limit the competitiveness of Dublin. And they did not know how to deal with it.

    It was the bungling incompetence that rules the state system, on display. A Frankfurt based consultancy even pointed this out, to add to the embarrassment.

    Interestingly, the Dutch are systematically working on dealing with this problem. As usual, whilst the corrupt state in Ireland is drifting towards a solution that involves brown envelopes and moving people to Portarlington, the competition is building 15 story buildings alongside tram lines.

    But then it probably is to much to expect any progress, on anything whilst the TDs are still officially on holidays. [ they need as much time as possible to accomplish their local authority councillor tasks ].

    So, basically Brexit is a losing game, because we have no honest discussion, and the plan must fit a dishonest debate.

    Now… know what is going to happen…the second time in 6 months.

    Surely, you have figured this out.

    They are going to make the same mistake with respect to Trump.

    I can see this coming down the tracks.

    And in January, if Trump gets elected, they will look gobsmacked again, by developments that they regard as unacceptable.

    Fellow contributors, we have a collection of obedient over-paid local authority councillors in charge.

    They have no real plan. They have no backbone. And no intelligence.

    They are unwilling to stick it to the centralists in the EU imperial power project. They are unwilling to address the lack of residential development in Dublin, and the vested interests sitting on land that was sold off by NAMA 4 years ago. They are unwilling to sort out the state sector largesse. [ and in the case of FF, they want to expand the waste ]. They are unwilling to get the cost base down. They are unwilling to tackle corruption [ because they are often part of the corruption 'eco-system' ].

    And the media says the problem is somebody else. But really, it is us for putting useless liars in charge. Repeatedly.

    We need to get real to our predicament.

    • Deco

      Trump is not the problem.

      The problem is our “leadership” (which is more inclined to obey than to lead) and their inability to address core systemic bottlenecks and problems in this country. The Irish institutional state is not adept at responding to developments. Even in the short term.

      Endless negative commentary about Trump are not going to do anything about the serious mess that is developing in Ireland with respect to cost competitiveness, inefficiency, debt, crime, corruption, at state incompetence, etc..

      The media are accepting of useless entities like Noonan, Flanagan, Fitzgerald, who fix nothing, and provide PR stunts for every crisis.

      This will produce terrible consequences.

      Not only are the US media ignoring the serious cultural incompetence in the US Democratic PArty. The Irish media are looking the other direction, in the face of the failures of most Irish politicians, including government ministers.

  11. coldblow

    Just to take the global warming bit first, here is an interesting talk by journalist and writer Christopher Booker about the EU and AGM:

    For about 4 mins after 11.00 mins he elaborates a little on his own (I think) theory of the cycle of fantasies: dream stage, frustration stage, nightmare, death-wish and fading into reality stages.

    In his excellent book The Great Climate Disaster he says that he decided to study this mass delusion after writing a long chapter about it with his colleague Richard North in an earlier book about mass scares. He is perfectly right and it is amazing how few people recognize the fantasy dimension of the whole thing.

    I recently finished his 1968 book The Neophiliacs which documents the massive fantasy, beginning in 1955, which brought about the Fab 60s, whose consequences we are still living with. He goes into some detail their about his fantasy cycle.

    As readers here know, I have been thinking along these lines for a good while now. I am nevertheless very impressed by the precociousness of his discovery and his insight to be able to describe the 60s so close to the period itself. (I think he really meant it to be a 10-year thing, ending in 1965 with the death of Churchill and the symbolic death of the old Britain, but he follows events up to 1968.) I believe he is a Jungian scholar.

    In short, Trump would be right here and David (and most other people) wrong, as AGW is a mass delusion.

  12. coldblow

    I don’t see what else is so wrong about Trump’s policies and I ask myself (though I think I already know the answer) why David feels he has to dismiss them.

    In some cases Trump surely exhibits the same pragmatism that David himself supports in other circumstances (‘When the facts change I change my mind’ etc).

    Is Trump’s platform any less superficial than Clinton’s? Hers is based on keeping the show on the road using smoke and mirrors (see Kunstler), in other words on keeping the fantasy alive. Again, why does David feel compelled to write this?

    It’s like this all the way through.

    Eg, ‘So he believes in free trade, but only when it suits America.’

    Well, yes. Firstly, isn’t this always the case? Secondly, isn’t he right?

    I won’t ask David to ‘free his mind’ from the straight jacket (he has alrady done this concerning the EU on his own). I imagine that he will do so in his own time (if he ever does). It could well be a case of: ‘When everybody changes their mind so do I.’

    Those who bother reading my posts might remember that I have made a big thing about fantasies and mass delusions in recent years, especially savilisation as this shows the gap between fantasy and reality in possibly its starkest form. We are still in the grips of a similar fantasy here in Ireland dating back to States of Fear and the Ryan Report (anyone interested should read about Nora Wall – even Wiki can’t wriggle out of it). Another is the fantasy of the wonderful benefits of mass immigration. You either believer these fantasies or you don’t.

    • Deco

      You mentioned Kunstler.

      Good article this week.

      Corporatism requires an increasingly dumbed down society, and an increasingly dismal set of political options.

      The current mess was a generation in the making. A key factor being Hillary’s wayward husband becomming President in 1992. What followed were deals that enriched Wall Street, Mexican drug cartels, Walmart, the Chinese Communist party’s associated “entrepreneurs”, and ponzi-speculators all over the place. A key move by Bill Clinton was the repeal of Roosevelt’s Glass Steagal regulation of banking.

      How does one reverse 24 years of error and societal degradation ? By pretending that there is not really any problem, with the exception of the “basket of delporables” being a problem.

      • coldblow

        It was you or Andrew (probably both) who first mentioned Kunstler here years ago and I make a point of reading him. After criticizing Obama before the last election he still opted for him, but he has plenty of insights and is very witty. He sees the fantastic nature (as in fantasy) of what is happening and also ridicules pc BS, or rather some of it (he doesn’t go far enough as I don’t think he really understands what it is). I also like to read a few of the comments to get an idea what the average American thinks: most of them are old men (and women) and often make interesting observations. As seems to be usual they are split between conservative ‘reactionaries’ and liberal True Believers.

    • goldbug

      “but everybody knows this is not the case.”


  13. McCawber

    Trump is all over the place.
    Being multi locational is a very handy trick to have up your sleeve.

  14. Deco

    Trumponomics is not the problem.

    Oglonomics is the problem. It is Ireland’s upcoping economics. It is Bertonomics without being subtle.

    Brendan Ogle, and the economics of demand and you get, work and you will give to those that demand. It is about extractive behaviour under the pretence of “fairness”. It is fundamentally about being as aggressive as possible with a long list of cliches based on the anchor of cliches “fairness”.

    With regard to “fairness” – can we have more than one choice in respect to bus transport in the Dublin urban area ? I don’t think the current monopoly represents “fairness” on the travelling public, Brendan Ogle.

    • Deco

      Oglonomics is gombeenism for the common man. It is not an end to gombeenism. It is gombeenism as an equal opportunities provider. It is CJH all over again. Every Irishman has a right to be a gombeen.

      Taken to it’s ultimate extreme it will result in total bankruptcy for society.

      In a partial implementation it the economics of Bertie ‘won it on the nags/was it punts or was it sterling’ Ahern.

      Behind the outrage, is simply a moral pretence and access to money at cost to the rest of society.

    • Deco

      A suggestion with respect to transport in central Dublin. Perhaps from Tara Street to Dame Street/College Green. I suggest enclosed in opaque hard plastic. You get out at the DART station, and cycle until you get to TCD or Grafton Street. A toll road. Bicycles/wheeled transport only.

      Benefit – less traffic on the road.

  15. AlfieMoone

    Thankfully, as we move deeper into a multi-polar world, what the crazies in America get up to recedes in importance.

    ‘Trump’s economics make absolutely no sense, have no coherence and will lead to a massive American budget deficit.’

    So what? The American debt is already a ‘supermassive black hole’ and that’s as a direct result of 4 decades of ‘expert opinion’ and ‘advice’ from Neo-Liberal economists. Reagan’s ‘morning in America’ prosperity was just the sound of the Debt Disguised as Credit economy revving up. Under Bush and O’Bama it’s reached war-factor speed. Why on earth would it matter if Trump adds a few more zeros?

    Michael Gove is right. Ordinary people have had enough of ‘experts’ and are following their gut instincts, openly mocking ‘experts’ such as the pollsters who got the Brexit vote wrong and may come a cropper over Trump.I’ve been saying for ages that Culture *trumps* Economics and no amount of hand-wringing and bed-wetting by economists is going to have any impact.But Clinton’s ‘pneumonia’ might.

    In any event, it doesn’t matter as the President is just a figure-head for Wall Street and the City of London and will soon realise that if his name is Trump. Hilary is already a Goldman Sachs stooge.

    Trump is right to focus on mega-spending on Infrastructure. Sanders would do the same, only banker’s bitch Clinton will keep to the discredited mantras of Neo-Liberalism. It’s all irrelevant. There is clearly a LOT more oil in Ghawar than the Saudi’s let on. Given the hydrocarbons aren’t going to run out anytime soon, there’s any number of ‘economic explanatory frameworks’ that can be applied to an energy-extravagant world economy after the event.

    As for Neo-Liberal economists criticising Trump. How ridiculous given they failed to spot the total meltdown of the credit markets during the GFC.They have no credibility and their ‘ratinal economic man’ model is now a burnt cinder. So they move their circus on to ‘behavioural economics’, to anything that keeps the Economics Ponzi Intellectual Scam moving. But sensible people have realised that anyone can make a silk purse out of a sow’s ear with ‘statistics’ so don’t pay attention to them any more. The Brexit Apocalypse was supposed to be a given, now the sooth-sayers are mumbling “beware the Ides of March!”.

    It really doesn’t matter much what Trumpenomics means unless and until he’s elected. Even if he’s not elected, the grinning idiot Clinton will have to appease his core voter for her 2nd Term gambit even as she also has to pivot to keep Sander’s bolsheviks onboard. She’s a consummate PR cipher so I’m sure she’ll do just fine. Meanwhile sensible people across the world just look at the US Presidential election, smile, then get on with their lives because: “America Is NOT The World”.

    best wishes

    ‘”don’t you wonder
    why in Estonia they say
    “hey you, you big fat pig” / “you fat pig”
    “you fat pig” – ? ”

    America / the land of the Free, they said
    and of opportunity / in a Just and a Truthful way
    but where the President
    is never black, female or gay
    and until that day
    you’ve got nothing to say to me’

    ‘America Is Not The World’ Morrissey.

    • I love America. I always have a whale of a time over there. Lovely people.

      • AlfieMoone

        It’s not about the people, it’s about the culture. The United States ‘cultural algorithm’ has been going down the pan since Nixon closed the ‘Gold Window’ in 71 and they’ve been living beyond their means ever since, papering over the loss of productive wealth generation via Fiat Debt and Chinese import substitution ever since.

        The US gamed WW2 to dethrone the UK as the Imperial power. Fair enough, but they now have a very serious problem. Their society was birthed from European values, mostly British. At first they not only emulated Europe but surpassed it via their elegant and innovative Constitution. But anyone who thinks the US is run on the basis of it’s stated values these days is away with the fairies. The cognitive dissonance of trying to live the American Dream whilst dealing with the reality of being sold into debt peonage by US Corporations accounts for the ‘nativist’ Uprising for Donald Trump. Who knows if he’s a corn-pone Nazi in the making, I doubt it, but the liberal bed-wetters are already freaking out just as they did about Reagan and Dubya. The US President is a figure-head now, the place is run by and for Corporations via their lobbyists. Trump will be given some toys to play with, perhaps a war or two but he’ll play the game if he wins. Sanders would cause problems by detoxifying the word ‘socialism’ and making fake-Libertarians realise that their utopia is impossible and always was as the US would have been utterly banjaxed without FDR’s ‘New Deal’ and the same issues apply now. Either it re-imagines itself for the C21st or it becomes a ’3rd World’ dump where a minority clique Oligarchy steals all the wealth and lords it over the serfs. That’s happened already in terms of inequality and wages for the ‘middle-class’ but it’s been temporarily disguised by O’Bama doubling the National Debt (ditto George Osborne) and the cheap Chinese crap in Target and Wal-Mart duping Joe 6 Pack into thinking he still has a decent standard of living when all he’s doing is providing profits for the few by taking on more debt in the absence of a career (80s) job (90s) and then even casual gigs (00s, 10s).Once the average ‘middle-class’ working stiff/salaryman realises he’s for the scrap-heap due to robotics in services (Blockchain) then he will go absolutely beserk. Trump serves Capital so will be banjaxed by “events, dear boy, events”. Sanders (or his replacement) is nostalgic for a Scandinavian solution which is no longer feasible for the US as it’s debauched it’s values so will now have to come up with some way of keeping the masses from slipping into abject poverty whilst ensuring it’s fables of boot-strapped work-ethic wealth generation remains intact. It’s not clear to me how the US can square the circle of robotic Cornucopianist industrial and service productivity increases with the collapse of consumer spending power. Nor how China survives when it’s cheaper for robots to make shit in Alabama than send it across the Pacific. Crazy times ahead, in fact, they’re already here….just thinking as I type, no answers…but very much doubt Trumpenomics is anything more than a symptom of a much wider and deeper crisis about to break. Ditto Brexit is NOT about English Nationalism, or not just about that stuff….

        Deco: ” I don’t think anybody really thinks Trump will restore the societal health of the US.”

        ‘Societal health’ is exactly the right motif. Trumpenomics once again assumes that ‘economism’ will provide meaning, purpose and sustainability but it won’t because it can’t because ‘Culture *trumps* Economics’ each and every time. 1916 and the century of nonsense that followed made zero ‘economic’ sense, but that didn’t stop it happening. Selling the future wealth of Ireland’s resource base to foreign Capital makes zero ‘economic’ sense from the perspective of the Nation State but makes total sense if you are a Corporate Droid who seeks to destroy the Nation State to ensure the next stage of Globalism For Private Corporations succeeds. The EU is a front for Globalist banksters to destroy the Nation State, which rose as a political concept to defend the powerless against the excesses of Popes, Kings and Aristocrats. The leaders of Corporations are the new Popes, Kings and Aristocrats who try to present as ‘self-made men’ when they are simply strip-mining the assembled wealth of centuries that the Nation State enabled. They can, will, must be stopped. Ireland cannot be destroyed by them. Brexit will ensure they will fail to destroy Core UK. Game on! The US thought it had seen the UK sublimated to being one of it’s key agents to control the EU, Ireland Inc being the other via adopting the Euro compliantly. Well, Core UK via Brexit has just told the US Empire to fcUK off. And guess what? As the

        ‘ the aim, right from the start, was step by step to pass ever more powers to the centre, eliminating national vetoes — until their Commission, run by unelected officials, could come fully into the open as the supranational ‘government of Europe’. There was no principle more sacred to the ‘European construction’, as it was called in Brussels, than the acquis communautaire: the unshakeable rule that once powers were acquired by the centre they could never be given back. And thus, over the next 60 years, did the long-dreamed-of ‘United States of Europe’ gradually take shape, extending its powers, treaty by treaty, over ever more areas of government, embracing ever more of the countries of Europe, in a way which back in 1957 would have seemed unimaginable.’

        • AlfieMoone

          (hit ‘submit comment’ before finishing)

          …And guess what? As the US value system implodes, whose value system will replace it? China’s? Russia’s? The EU’s? No, it will be a new British Cultural Commonwealth with the US on the naughty step as it rehabilitates itself back to it’s founder’s values under the guidance of the hidden hand of the Crown that’s remained the hand on the ship’s wheel all along via the City of London. Just as the islands of Britain and Ireland are umbilically linked, so are the US and UK. It is madness to imagine the Republic of Ireland can be subsumed into a United States of Europe under German and French command. Paddy will NOT stand for it once he realises what’s happening. There will be an IRExit but, because of the ‘golden handcuffs’ of being a Net Recipient of EU funds and the bondage of the Bank Bailout, Ireland won’t be free until the whole thing collapses. And that may be at any time in the near, mid or far future…but I doubt very much that Irish people will remain calm and sanguine once they realise their Nation State has been hijacked by Corporations and their birth-right and the legacy dream/nighmare of 1916 surrendered to foreign powers by the Soldiers of Infamy of their own elected governments since the ‘republic’ was founded…..

          The tax dispute about Apple and Ireland is NOT that the EU is interfering in Irish corporate tax affairs because it simply isn’t. It’s about the Irish venal, sleveen gombeens of FG/FF being so brazen and shameless about tax-whoring Ireland that it’s blown the lid off the entire EU tax-whore scam typified by Juncker’s tax-brothel home ‘state’ of Luxembourg. If Ireland Inc had stuck to the stated 12.5% the EU would never have intervened, they had to because that wasn’t whorish enough for the Plastic Paddies in the Dail, they had to ratchet it down to 0.000000000001% or whatever nonsensical amount they agreed to kick-start Leprechaunomics. Ireland Inc was the wild-west financial laboratory for the birth-pangs of the EUro. Now that experimental currency either beds down to Germanic Purity or it goes tits up with Draghi. The Danes, Swedes and Brits are safe as they didn’t join, but the Irish are probably as fucked as the Greeks as they simply will not be able to submit to the financial disciple to join Core EUro alongside the Dutch and the Finns without ‘losing their religion’,losing their cultural identity as the Irish Algorithm is reverse-engineered by the EUro architects. As for Spain, Portugal and Italy…they’re already on the way to a Latin Euro via Draghi’s capers but that will be no home for the Irish either. At some stage serious people will have to come up with a ‘narrative’ that explains how and why the Irish Elite banjaxed the place so comprehensively. Or they’ll hammer out another chip on their shoulder and join the crass SDP Scots as they blame the Brits for destroying the EU because: Brexit.

          The irony of it all it just too much!

          Nigel Farage: ‘If I was asked by an Irish Eurosceptic party to come and help, I’d be there like a shot’

          • AlfieMoone

            Forgot to note that Farage alone is probably responsible for foiling the rise of the extreme Right & racist fringe in the UK as he lanced the boil about uncontrolled immigration and left them with nothing. He makes ‘intentionally unguarded’ comments that the liberal chattering classes of The Guardian decry as ‘racist’ when they’re no such thing, not even xenophobic. He makes them knowing the ‘silent majority’ are listening and realise that he is prepared to challenge the dogma of The Globalist who’d throw away 1000 years of British culture for a preposterous EU ‘experiment’ that’s about to implode after a few decades.

            It may well be the case that Trump will do the same job in the US but The Donald appears to have some work to do to get his philosophy into shape. Presumably that’s why he landed at his Scottish golf course the morning of the epochal EU Referendum result in the UK and why Farage is now an unofficial ‘honoured guest/ covert adviser’ to the Trump campaign…

            Nigel Farage goes down in history as a man of deeply held and actioned principles. Cameron and Kenny will be remembered as clowns of the ring-master Juncker. And nobody who sports a 70s porn-star moustache has any serious ambitions to be a demagogue but quite clearly has a very arch sense of humour. Perhaps Trump will re-open Studio 54 for his Presidential parties.

            ‘“We had a far right party, the BNP, that was genuinely anti-Jews, anti-black, and I came along and said to their voters, ‘If you are holding your nose, and voting for this party as a protest – don’t. Come and vote for me; I am not against anybody; I just want us to start putting British people first.’”

            ‘I destroyed the far right in UK’: Farage on Brexit, UKIP future & neo-Nazi past rumors’


        • You’re generalising about culture there Andy. And I don’t get hung up about all those details you mentioned.

          I take people as I meet them. If they have a few different habits or traditions or opinions then all the better.

          The world would be a dire place if we were all carbon copies of each other.

  16. “Bear in mind that, when fact-checked, the vast majority of what he’s claiming about current economic conditions are false. But people don’t seem to care, and he keeps going up in the polls.”

    It depends where you get your facts from, David. IMO, where you get your facts from are all lies. Government statistics are manipulated. Everyone knows the cost of living goes up at 3 times the basic rate stated by government. People know that they cannot make ends meet. People know what their personal positions are and it is getting worse.

    Trump reflects what the people are feeling and saying. That is why he appeals to them, why he has their support. That is why his venues are full to overflowing where Clinton’s are reported as half empty. give you the real story. 23% unemployment. Inflation at 7-8%

    46 million people on food stamps don’t lie about what is happening

    Trump reflects reality David, you reflect government and central bank lies and deceit. MSM are agents of control for the establishment. You reflect that, Trump reflects reality!!

    It remains to be seen whether control wins out over reality. If Clinton is sick enough to pull out of the presidential race will the election be annulled. If Trump is defeated or denied the presidency can the reality genie be put back in the bottle. Will the people stand for the lies and deceit for much longer. Is the reality dawning.?

    No matter who wins, the economy will crash. If Trump wins he will be blamed as the 600 year bond bubble bursts taking all else with it. The interest rate bubble will burst anyway. Trump is anathema to the new world order, but they will use him to create chaos. Out of chaos , order. More control, more centralization, less freedom.

    I just hope that Trump gets to do a fraction of what he proposes. Disband the corporist agenda of the trade deals. Close the unlimited migration routes, Real in the power of the FED and the likes of Yellen, Bernanke and Greenspan. Rebuild the infrastructure. Those 23% unemployed and the 46 million on food stamps are the first priority. Look after your own first. That is reality.

  17. Grzegorz Kolodziej

    Next week we will witness a collapse of the global financial system. Now when I got your attention, I have to admit that I do not have the slightest idea when we will witness it [although the date of Sep 30 might be interesting, as including the yuan into SDR’s with the post G-20 possibility of issuing bonds in SDRs opens the Pandora’s Box of, on the one hand, making FED decline in significance - I now think that contrary to possibly all and sundry, if FED is faced with the alternative: let the banks go or let the dollar go, then the FED would rather let the banks go (dollar might go eventually if FED does not raise rates this year and they do another QE instead, as if the Smithian capitalism was based on trust, then the post-Lehman capitalism is based on trust – trust that the bubbles we see are real wealth - multiplied by one thousand) - and, on the other hand, loans issued in SDRs might render my rhetorical question “Wall St was bailed out by banks, banks were bailed out by FED, but who is going to bail out the FED?” invalid, as contrary to my prior conclusions, the house of cards may go on longer than I ever thought – should a global structure come into being built on top of FED and based on SDRs liquidity (even bigger bubbles), which SDR bonds might bail out FED (as contrary to what many expected, China do not seem to be in a hurry to base their currency on gold any time soon). And there is the demographic curve: that’s gonna be shit in the US in the next decades, cat in Germany and France (though maybe not since they turned into a Caliphate) and gory in Russia and China].
    So probably nothing catastrophic will happen in the global finances next week, but that’s irrelevant for the Dubs and Dubs-wanna-be – because the DB strike next week will be, in the Big Smoke at least, equivalent to a global financial reset.
    “So it is war after all! Poles – the hour of truth has struck” – announced the most famous radio speech in the history of Polish radio on Sep 1, 1939, and announce the Dublin Bus drivers, who declared a war on us by seeking a 15pc pay increase, along with a payment in lieu of a 6pc increase they were due in 2008 (they are one of the best paid in the world anyway), in a way that only in Ireland and, possibly, France, trade unions can get away with (in Brasil they had riots for 3 days after a smaller price increase than what we experience every year even after the oil price collapse): bring as much destruction to services as possible by triggering as much public sympathy as possible (one driver said to the media that he has to put up with being spat on at work: roish, what about the glass that divides him from the knackers?). I’d like to draw the readers’ attention to the following:
    1. According to NTA, the taxpayers’ total subvention to Dublin Bus is close to €100 million, or nearly 50pc of their budget.
    2. Contrary to DB “low subsidies” propaganda, according to Minister Leo Varadkar, in other EU countries bus companies receive in subsidies between 35 and 60pc of their revenue (Minister’s reply to Independent TD Thomas Pringle, November 7, 2013; Ref No: 47180/13).
    3. Considering that the integrated transport annual pass cost €365 in Vienna and non-integrated, 100 years behind European capitols like Vienna, Prague or London annual bus pass cost €1.320 in Dublin, why does the DB actually need any subsidies? Aircoach are able to provide much more reliable 24 hours service with no subsidy? Besides, try to get, say, during the rushour from Rathfarnham to Dell in Loughlinstown in less than 3 hours.
    Since 2013, the NTA – funded from our taxes – has purchased for Dublin Bus 347 double-deck buses in total (funny how DB misrepresentatives do not include buses bought for them by taxpayers into their subsidy figures, and quote the 30pc subsidy figure on the national TV and radio disinformation channels). At the same time, while having more buses, DB has reduced the number of lines from Bray to Dublin from 3 in 2004 (84, 45 and 145) to 1 (145) – or rather 1/3 of the bus, because 2/3 are always out of service. And on Sunday evenings (David: next time you do a bus-travel experiment, please do not travel from Dalkey, but from D’Olier St towards Stillorgan on Sunday between 7.30pm-9.30pm: you’ll find out that Sartre was wrong by saying that hell are the others: hell is to be on that bus), a 145 from Dublin that one cab actually get into without being verbally abused by the driver (“that’s it folks, I can take one more and that’s it”) some lunatics claim more people should use buses) is so difficult to find that even if such 145 was wrapped in bacon, even Lassie wouldn’t find it.

    P.S. I think that David’s article on Mr Trump was quite discerning while being caustic. Pity I do not have time or mental space to write anything substantial about his article and God only knows when I will – I’m snowed under, and I’m also meeting the alternate Director of the Chinese bank AIIB this Saturday (does anyone have any specific questions he or she would like me to ask him?), to answer Coldblow’s question where I am. And to allay any doubts – someone might object – am I against paying the drivers what they are dues? Look, DB drivers are 6th best paid in the world and the service their company have been delivering for decades has been probably 6th worst in the world (now, the former is a fact and the latter was my poetic license, but I would not be surprised if it was true – it is by far the worst bus company in the EU anyway: honestly, I remember the even during the 1981/82 Martial Law at -30 the buses were more reliable). Short time ago they were hiring drivers for nearly 800 a month and certainly, if anyone is due anything, it is the customers, not the drivers: the customers should get the money back for all those Byzantine salaries (when everyone’s salary was cut) and annual ticket price hikes (when the oil prices were falling). The articles, rather sympathetic to DB drivers, have even come up with a story that the drivers were trying to keep themselves busy during the strike (oh, really? How about taking up some voluntary work for the strike days?). Making yourself busy – this is what the DB drivers should consider before they send three 145s from city centre, and put “out of service” signs on two of them to go to yap in their canteen (“I will not serve” – who famous said that before? Hint for atheist readers: you’ll find it in Genesis – not the 70s band, though you can listen to their “Supper’s ready” too, it’s good). Ireland should try to find her own way of doing things (the one that works I mean) rather than blindly following either the UK or German/French solutions, but on the DB strike, if Ireland were to emulate the UK, it should take Lady Thatcher’s approach to the bus strike rather than Comrade Scargill’s. Pay the drivers whatever they are owed, and like President Reagan has done with the airline pilots strike, sack everyone and demonopolise first and privatise second the whole f…g thing – Schumpeter called it a creative destruction and found it the most salient feature of capitalism (the private companies created on the corpse of the DB would rehire the good drivers, who knows – maybe even on even better conditions since without taxpayers injections, they won’t be making losses?). I do not blame the ordinary drivers (some of them are warm and helpful, usually on local lines; most of them though speak in Neanderthal grunts which would make Donald Trump sound like Cicero in comparison, and have manners of the Red Army) as much as I blame the DB parasitic management, yet when I hear that an intern on 240 euro loses two days of income because of the strike of someone on 800 euro who is too lazy to work out a proper timetable, I have this to say: the Trotskyite’s who egged on the drivers to bring the Irish capitol to a standstill are either spoiled brats or engaged in sabotage. One day Ireland will lose FDI because of them as it already lost the Web Summit to Lisbon (because the Web Summit reps couldn’t get from one part of Dublin to other on time). They are the enemy within.

    • Sideshow Bob


      You are going to love this…

      Justa thought: I wonder what happens in North Korea when the bus drivers go on strike for more pay?

      • Grzegorz Kolodziej

        Yes, I the ominous news got through to me when I decided, due to lack of time, to narrow down my daily news intake to one google search: Dublin Bus, which was mistakenly typed in as Dublin Bus execution as I am sitting at the enforcement order with a writ of execution.
        It’s going to f…k up my entire week. Not only normal schedule, but I also have a hospital appointment on 27 which, when I missed it last time due to the fault that was not mine, I ended up in the hospital for a month as a result and with debts… :-(

        Taoiseach: it can be done with the DB terror imposed on the low paid:

        • Why would anyone even take a bus? With all the riff raff?

          Forget that.

          • Grzegorz Kolodziej


            “Why would anyone even take a bus?” I love the Bauhaus aesthetics of Volvo’s B9TL low-floor accessible chassis with Eclipse Gemini bodywork by Wrightsbus, Ballymena, Co. Antrim (up the RA and no shurrender).

            And seriously…

            1. Insurance cost
            2. It can sometimes be quicker due to bus lanes, and it would have been quicker still had metro been built for the millenium as they said it would
            3. I can use the bus time to do some work or post on this blog which I wouldn’t be able to when I’m stuck in traffic for an hour. I generally hate being unproductive which can a problem for whoever is my girlfriend (“Jesus cannot you not just relax fer fucks sake” is what I have usually heard)
            4. 2 burgleries into neighbours houses in what is supposed to be an nice area (FF TD is my neighbour) combined with no right to use guns to defend yourself.

          • Maybe I should rephrase – “why would anyone even commute?”.

            I wouldn’t spend an hour sitting in traffic in my own car either never mind in a bus full of sneezers.

            An hour of my life that I’d never get back.

            Twice daily??!!

        • Sideshow Bob


          You have my sympathies.


          How do you manage to get by in the modern world with such a vintage 19th century upper-crust attitude? Did your mother raise you to be this way can I ask? Or are you your own man in this regard?

          • Nothing to do with my Mum to answer your question Sideshow.

            I just avoid buses, full of people sneezing all over the place.

            Unfortunately I can’t avoid planes.

          • Sideshow Bob

            Yes – a lot of viruses are transmitted because of unhygienic conditions on buses.
            I wonder how many lost work days a year could be put down to unnecessary transmission of colds and flus via public transport.

            As for planes well maybe you will be able to afford a private jet someday…you can always dream!

    • “Next week we will witness a collapse of the global financial system.”

      BUY GOLD.

      Preferably ‘premium’ collector’s coins.

      • Never buy numismatic coins. The premium is never recovered when resold.
        Never buy paper gold of any kind.
        Buy it, heft it in hand and walk off with it. The only gold you will ever own is that you have in your possession.

        • And do what with it then Tony? Admire it?

          • mishco

            Precisely! Like this happy man:


            However, as Sinatra sang: “I will take the land”. You can eat your home-grown potatoes, beans or raspberries, not Eagles, Maples or Sovereigns!

          • Spend it when you need to just like your paper cash which so many admire even though fiat cash is trash.
            Cash is subject to government mandated inflation and pays no interest and you cannot eat it, and it is not pretty, and is no good for jewelry nor flash to impress the neighbours like a gold ring, pendant, chain or pocket watch. Wear your wealth like an Indian bride!!!
            Be proud. Don’t smile too much or you’ll show off your gold teeth.

          • I eat well from the garden plot . Lots of greens, lots of exercise. Lots of roots and fruits and berries all around. Sunshine on my body gives me health. Wind in my face. Enjoy the Harvest Moon tonight.

          • michaelcoughlan

            “I eat well from the garden plot . Lots of greens, lots of exercise. Lots of roots and fruits and berries all around. Sunshine on my body gives me health. Wind in my face. Enjoy the Harvest Moon tonight.”

            This is the real wealth the skill to produce valuable items. Not the gold per se.

            Gold’s purpose is to preserve purchasing power over the long term/act as a store of value. Silver is for spending.

            The point is though if there is a buyer and seller for the metal the metal will have no value in the first instance if no Tradable good or service is produced prior to trading as its the value in the goods themselves which is imparted to the metal.

            Bitcoins can’t be eaten either.


  18. Grzegorz Kolodziej

    nearly 800 a month = nearly 800 a week of course. I looked at their website and they took it off, but they had two tiers of earnings (that is recession times I’m taling about! – you know, a few thousand of applications to work in Lidl for 8.65 in the first 3 days from all over Ireland = it was 800 for full time work and well over a monkey for f…k all hours of work.

  19. Will there be an election at all is a question being asked more and more by the perceptive. Clinton is sick. That is, she is unwell, as well as being psychotic. That being the case it must be known by her backers and handlers.
    Do they expect her illness to be common knowledge before or after the election.
    It is becoming apparent in the alternate media and obscured by the MSM.

    Here is a plan. You want to control the world. You need to create the right conditions for takeover.
    You have a nominee for the POTUS.
    You know she is ill.
    Hide the illness from the people until the appropriate time.
    The timing is for right after the election.
    Crash the economy
    Declare martial law and take over the state.

    Plan 2
    Your other candidate wins, Trump wins, crash the economy. Blame it all on Trump.
    Martial law may have to wait a little. It is just a matter of timing.

    Plan goes off the rails as Clinton’s illness becomes public too soon.
    Obscure as long as possible. Create more chaos. No Democratic Party candidate and Trump unopposed.

    Create a crisis to postpone the election. Obama retains office for third term. People get more angry and take to the streets. Martial law declared.
    Mission accomplished.

    • McCawber

      I don’t necessarily agree with your conspiracy theory but I will say one thing.
      Pneumonia is a serious serious condition.
      One does not recover from it very quickly.
      In addition sufferers of pneumonia are prone to life long bouts of depression subsequently.
      If Hillary is pYou’re a joke.
      You could have interpreted my post one of two ways.
      Needless to say you got it totally wrong.
      For the record, not that you care, I agreed with D’Arcy’s version of events.
      My comment regarding cannon fodder should have given you pause for though.
      Do us all a favour and put me on ignore.yschotic then we should all be concerned.
      I truly hope you are incorrect in your prognostications.

      • McCawber

        Just ignore that post.

        • Well , it is not necessarily pneumonia. That is the point. Clinton, it is suggested has been staggering and falling for months if not years. If that is the case, I do not applaud. I wish ill on nobody. If it is the case she shows mental tenacity. BUT…………….

          As far as martial law is concerned, I do not wish it either, but its imposition would not surprise me as it is a reasonable possibility under the right circumstances.

          The average working Joe in the US has been angry for a while as the finances and economics disintegrate all the while the authority figures assure a recovery at hand. They have not had a focus. Trump and Saunders each provided a focus to get something done.

          So something had better be done or all hell breaks loose. The authorities may be instigated to crash the economy right after the election if it has not gone up in spontaneous combustion before that.

          Here is an opinion, call whatever you like but it is a forecast, or opinion, that will look ridiculous if we pass unscathed into 2017.

  20. Deco

    Brexit – the amatuers in Kildare Street got found out.
    The GDP increase that was nonsense, and that results in Ireland increasing it’s contribution to the largesse in Brussels – it happened again.
    Apple – it happened again.

    And the same will happen for Trump.

    It is not merely that they have given up on sovereignty.

    They have given up in responsibility, also.

  21. It is time to say that I respect David for having the courage to put his writings, facts, figures and opinions available for dissection on the blog.
    I respect the ability, for the extension, of freedom of speech on the blog.
    I respect the ability to agree to disagree.

  22. McCawber

    The media and the bus strike.
    The minister doesn’t want to get involved.
    The unions want the minister to get involved.
    The minister wants the management to get involved.
    The media says the minister should get involved.
    The minister is a politician, he’s not part of Dublin Bus management.
    The minister should tell the media to stop interfering in the negotiating process.
    Will he tho?
    What would Trump do?
    What would Hillary do?


    Trump is informed about the real economy unlike others around here.

    “What he and those who agreed with his stance don’t know, or at least won’t state publicly, is that these shoddy central bank policies are detrimental by design. In other words, their sole purpose is to destabilize the world economy.

    This deliberate market sabotage is necessary for the transference of power from the more developed nations to less developed ones. Ultimately, the idea is to eliminate smaller regional and national central banks. Once things get bad enough, these smaller banks will be blamed for provoking a given crisis. And, secondarily, the end goal is to blow up the entire system in order to bring in the one world government and central bank.”

    “”Singer, along with numerous other hedge-fund managers, has been increasingly outspoken in his criticism of the Federal Reserve and other central banks for creating dangers in the market unlike any in what he terms the “5,000 year-ish” history of finance. Singer noted that “it’s a very dangerous time in the global economy and global financial markets.”

    This quote is frighteningly similar to the response given by Donald Trump on Fox Business not long ago when he was asked if he had money in the market. He answered, “I did, but I got out,” and then went on to say that he expected “very scary scenarios” for investors.”"


    “”There’s probably nothing to see in that chart above – just like the allegations of Hillary’s poor health…”"

  25. You are doing the job of the MSM and the elites by painting Trump as the cause of the coming financial catastrophe.

    First the headline
    ‘Trumponomics’ would mean a hair-raising ride for US economy

    And then the commentary
    for example
    “”Trump’s economics make absolutely no sense, have no coherence and will lead to a massive American budget deficit.”" is designed to blame Trump for the hideous economic structure that the central banks and governments have engineered.

    Have you not noticed there is already a massive budget deficit? Have you not noticed the national debt is 18 trillion or more up from 1 Trillion a mere 15 years ago? The national debt is double that when Obama was elected.
    Ever since the abandonment of the gold standard in 1971 the US has also run a huge trade deficit.
    The US has spent money like drunken sailors resulting in trade and budget deficits of huge amounts. It is estimated that the US total debt load is closer to 220 Trillion including unfunded liabilities.

    With the total US debt over a quadrillion when banking derivative betting debts are added.

    You betray your allegiance and bias by issuing such headlines and statements
    as it appears you are a lackey for the MSM and central banking system while trying to blame Trump for what is about to happen.

  26. AlfieMoone

    Trumpenomics means the end of Perpetual Pyrrhic Peace. Kant. Juncker. Cameron. Merkel. May. And Vladimir Putin….! I’ve been wearing a TeamGB Olympic jacket here in Vilnius, so I guess it’s unsurprising that people approach me to discuss Brexit. What’s really surprising is the sophistication of the bar-room debate which leads me to ponder my views in my hotel room & did deeper, leading to excellent meta-narrative overviews such as this article, which pretty much sums up my position-statement for why the EU is delusional as it posits a fizzy drink advert “I’d like to teach the world to sing” banalities about international relations. If I was Lithuanian, I’d make sure my country was umbilically tied to NATO & also the EUro system, despite the coming terminal crises…..when either Trump or Clinton have to say “enough!” to defence free-loaders (such as Ireland) and the EU has to finally face up to it’s terminal existential crisis: Is it a trading block? Or a new world power? Juncker thinks the latter hence his call for EU armed forces yesterday under the opening gambit/initial cloak of ‘humanitarian missions’. But he’s totally delusional. All that matters is NATO for military purposes. The EU needs to re-imagine itself as a dyanmic trading hub or descend into chaos. For Trumpenomics, the descent of Europe into chaos due to Junckerism might be no bad thing. Lots of countries are going to learn what the Brits have long known: America is only a friend when it suits American geo-political economic purposes. Ask O’Bama and Geithner why they fucked Ireland before worrying about what Trump might do. Hilary Clinton wouldn’t blink before throwing Ireland under the bus if the advantages of the US having Dublin as it’s EUro hedge unravel. Thank Christ for Brexit as at least they’ll be one island off the edge of Europe ready to sort out the coming mess just as it sorted out the last mess Europa conjured up through the adventurism of Germany and France. This time it’s Banks, Not Tanks, but the subconscious end-games the same.

    TV headline as I type: “Ukraine-Ceasefire In Trouble’. If only Juncker could send in his EU army, hey? No wonder Putin is popular with Russians even though he’s a paranoid thug…

    ‘Poland and Lithuania have become the only countries that are acting like they understand that the peace held by the European Union is not a perpetual peace.’

    • McCawber

      Whatever the opposite of
      “Distance lends enchantment to the view” might explain Poland and their neighbours attitude.
      “Familiarity breeds contempt” is as close as I could come up with.

    • McCawber

      @Alfie The ECB/EU fucked Ireland and are coming back for more re corp tax.
      Geitner was brought on board to “explain it” to us because something was being lost in translation in the message coming from Europe.
      Hillary and Trump would do the same.
      The problem for the ECB and the FED was that in guaranteeing deposits the Irish government had unwittingly put the global banking system on the hook instead of the punter.
      The bailout was necessary to remove that hook.
      However it was nothing more than a sticking plaster to hide the damage done (globally over many years) rather than aide recovery of the banking system.

      • Deco


        The ECB/EU certainly banjaxed Ireland.

        But that was necessary, because they wanted to protect the well connected wealthy.

        If Apple bribed and donated like the Bondholders, there would be no problem.

        The whole thing stinks.

        The Apple situation is a case of the power centre telling the peripheral to be more obedient.

        Time to get out of the stinking racket.

        Task number one is to ensure that the Brits get treated respectfully and honourably in the Brexit negotiations.

        It is now in our interests that we stick as much disruption and chaos into the power-centralism that exists in the EU power stuctures.

        • McCawber

          Dear Mr Juncker
          Drop the Corp Tax issue otherwise we’ll be forced to leave the EU.
          We’ll take our fish back too.
          Yours in grovel.

          • Truthist

            EU gave Ireland’s fishing waters for Spain to plunder.
            That is how it got Spain to join the EEC > EC > EU.
            All Irish Civil SERPENTS & Irish State Politicians & Judges & Lawyers & other Politicos — Journalists, Professionals on Retainers, Organisational Representatives, etc. who have been involved in EEC > EC > EU matters in Brussels & Strasbourg & The Hague since Irish State’s initial enquiries about joining up should be investigated.
            Think “Marc Dutroux” !
            After all, notable relative silence by Irish Media about Pedophilia Scandal in Brussels scene that has heavy political involvement.
   search terms ;
            Marc Dutroux AND ireland connection AND irish connection
            I note certain salacious rumors about Irish “Fishing Rights Negotiator” & later “President of Irish State” Patrick Hillery ;
            And, not that stuff about he supposedly having a mistress or 2.
            Mike Lucey should be interested in following up that angle about Hillery.

  27. Deco

    To be hnoest, I don’t think anybody really thinks Trump will restore the societal health of the US. He might. And he might be taken apart by people wealthier than he is.

    But, one thing is certain – Hillary Clinton, will only make matters worse.

    The US Federal Deficit has doubled under Obama. In terms of scale, it is the largest thing that he has done.

    He is the Louis XV of his country, in terms of finance, with Bill Clinton as the Louis XV in terms of extra-curricular activities.

  28. Truthist

    Barrack Hosein Obama & Michele — Michael — Obama
    Barrack Obama is homosexual ;
    Evidence is overwhelming ;
    And, “Michelle” Obama is really a “Michael” — i.e. a man — according to even Joan Rivers ;
    And, Joan Rivers used to officiate “gay weddings” even.
    . search terms :
    joan rivers AND obama
    The long-running favorite for 2nd
    Hillary Bonham Clinton
    Hillary Clinton is lesbian ;
    Bill Clinton said so a number of times ;
    And, so does Monarch Brain-Programming victim Cathy O’Brien.
    So, the question remains ;
    Donald Trump
    This very issue is what m what may be the # 1 reason for who the electorate votes for ;
    Although, the elite will no doubt rig the outcome to whomsoever they prefer of these 2 appalling candidates.


    “”On Monday, for example, Republican presidential nominee Donald Trump said Fed chief Janet Yellen should be ashamed of herself for what she was doing to Americans and for creating a “false stock market.”

    The financial press was quick to condemn Mr. Trump for “undermining confidence” in the Fed and the stock market. It was “irresponsible” to question the Fed’s integrity and its non-partisan mission, said the pundits.

    Widely dismissed was the idea that Ms. Yellen was “playing politics” with the Fed by supporting the stock market to embellish President Obama’s last months in office… and help Democratic nominee Hillary Clinton slide into the White House after him.

    But Mr. Trump is right: Politics is the Fed’s game.”"

  30. “The rubes are revolting, and they are revolting because they can see the system is rigged. These people are fed up, and they have had enough, and I think this is where Trump is coming from. . . . I do think we are at an inflection point where someone is finally challenging the Wall Street/Washington elites. Trump is kind of a wild man in some ways, but he hasn’t spent the last 30 years in Washington drinking the Kool-Aid.” David Stockman

  31. Truthist

    Of course, of the USA electorate who have woken up, they would much prefer to have the highly talented & courageous [ physically & MORALLY ] & just Vladimir Putin to be the President of U.S.A..
    Putin outwitted “The Dreadful Few” who now control Ukraine by allowing Crimea to “secede” to Russia.
    But, he did say that as soon as the majority of the population of Crimea wish to re-join with Ukraine — I think Crimea given to Ukraine only about 50 years ago [ U.S.S.R. President Khrushchev ? ] — he will accede to their wishes in that regard too ;
    Just like he has acceded to their wishes to “secede” to Russia meanwhile.
    And, many Ukrainians [ both indigenous Ukrainians & Russians there ] now wish for Ukraine to re-join The Russian Federation.
    Beware of GCHQ Cheltenham Warehouse / Hasbara propaganda against Putin.


    “”The urgency for owning a financial put against the stupidity of central planners and politicians grows by the minute.

    We continue to witness a multifaceted array of failure heaped upon failure while repeating history on a dramatic scale.

    One of the great new wonders of the modern world is the credibility given to high profile economists.

    Obviously, they have no skin in the game, as their predictive misses have the curious effect of giving them even more credibility.

    The fact is that they have been caught wrong-footed with their constant predictions of an “imminent” economic surge justified by the tiny segment who nominally benefits from the various and ongoing monetary interventions.

    Of course, for most Americans, a depression rages on.”"


    “The experts and the establishment hate to be seen to be wrong and will often follow their pre-conceived path regardless with no thought for the general public and the investment community if it affects them adversely in the process.”

    “Recall that according to Krugman the Fed has failed to stimulate the economy because it simply wasn’t enough.

    Apparently, having the Fed hold 35% of all 10 year equivalents, injecting nearly $3 trillion in reserves into the stock market, and creating a credit bubble that makes the 2007 debt bubble pale by comparison was not enough. One needs more!

    And so it will be with war. Because the first war will be blamed for having been too small; it is time for a bigger war. Then an even bigger war and so on, until the most worthless human beings in existence – economists of course – get their Armageddon, resulting in the death of billions. Perhaps only then will the much desired GDP explosion finally arrive?”

  34. What Sayeth You Now, Denialists?
    James McShirley

    It’s been 18 years since GATA first began alleging the gold market was manipulated. With the support of mountains of publicly available documents, irrefutable trading evidence, and even outright admissions from the Fed, BIS, and other sundry bankers the case for gold suppression was made. The result: deafening silence from the MSM. Nary a peep, nary a question, not even the slightest interest. In the beginning there were plenty of denialists out there claiming gold was instead a pristine Pollyanna market. They said no way could any “invisible force” control the gold market like that for any significant duration. The market was far too big (or so they said) for any individual or entity to exert surreptitious influence. Over the course of the past 18 years as the gold suppression scheme and trading manipulation became more obvious many of the denialists eventually recanted, or at least began referring to it with such vague concepts as “invisible hand” or “surreptitious force.” Still, after all these years, a few die-hard denialists remain. Trapped in livelihoods like technical analysis, which require markets to be free in order to be relevant, they persist in their “3 wise monkey” approach to manipulated markets – see no evil, hear no evil, speak no evil.

    With the arrival of 2016 everything has changed for those few remaining denialists. MSM’s blatant all-out assault on free speech, combined with a virtual blackout on all Deep-State opposition, makes it perfectly clear what GATA knew back in 1998. What many traders, politicians, voters, and workers are finally understanding is, everything is rigged, including gold.

    There can be no doubt former hidden agendas have suddenly become less hidden and in plain sight. All pretense of free press, free elections, and free markets have gone by the wayside. Brazen manipulation of our very thoughts have become S.O.P. Google now sanitizes negative search suggestions about Hillary Clinton’s health. Reuters casually adjusts polling methodology in order to give a more favorable outcome to Deep State’s preferred candidate. Major media outlets freely admit having agendas rather than objective reporting. In the case of Dr. Drew, the mere act of reporting objectively about Hillary Clinton’s health on CNN can be cause for termination. Never has the U.S. witnessed such a rapid decline of freedom. The manipulation of markets, politics, and human minds is accelerating in commensurate fashion to the disintegration of capitalism and the swift rise of plutocracy. It is lunacy to believe that the same people responsible for manipulating virtually everything and everybody on the planet have some quaint codicil which excludes gold and gold alone from their repertoire. In reality to TPTB the control of gold is everything.

    ZIRP and NIRP are the very definition of manipulation. Same for Treasury bond yields. Proven illegal trading manipulations now run in the multiple trillions of dollars and include such behemoth markets as LIBOR, FX, MBS, and CDS. Throw a dart, land on a market proven to have been manipulated. Derivatives make controlling any market fast and easy, which is precisely what they do – control ALL markets. For over 17 years I have documented the 1% and 2% caps on daily gold gains, along with a dozen other blatant manipulations. I further documented (Essay: The MOAMOPE) a nearly 4-year siege on silver during the 6:00 PM Comex access market open. The result of my 17-year documentation: deafening silence from the MSM.

    Denialists now face a sticky Catch-22 when ridiculing GATA’s work. They either have to deny the incredibly brazen manipulative events of 2016 aren’t happening, or else they have to come clean and admit TPTB can and will control anything, including gold. Bye-bye technical analysis, bye-bye previously viable TA livelihoods destroyed by incessant interference. Like the latest iPhone app which can suddenly wipe out an entire industry the cartel has eradicated the tea leaf reading sector of the economy. But hey, there’s always a silver lining: I hear CNN and others are hiring journalists willing to report only the news their plutocratic bosses deem fit. Hint: if you want to keep your job with MSM do NOT dwell on Hillary’s health, and never, ever mention gold manipulation.

    James McShirley
    September 16, 2016

  35. Truthist

    Interesting brief article giving the current state of play from Rothschild’s hand ;


    ”Deutsche Bank and Commerzbank are presently discussing merger talks. The fact that these meetings are occurring, is a signal that Germany’s banking troubles are indeed accelerating.”

    ”Interestingly, rates are not just low within the context of American history but they also happen to be at their lowest levels ever in over 5,000 years of civilization.”

    ”Whenever countries followed a strict gold standard and used it as their currency, those economies were very stable. But, governments have always surpassed their means, with their costly spending, and have to leave their gold standard so as to fund their inefficiencies.”

  37. AlfieMoone

    Well,well… appears the ‘official’ President of the Republic of Ireland is fully onboard with Andy Mooney, the ‘real’ President of the Global 5th Province. He also appears to understand the profound shock that 50′s Irish refugees from the chaos of The Emergency had when they arrived in Birmingham to find a tribe that not only had told Hitler to fuck off but did the same to ‘hero’ Winston Churchill as they demanded their Cultural Algorithm be upcycled to lead the world to a new vision despite the threats of a bunch of banker idiots who said the UK was ‘bankrupt’ from defeating the Nazis. Yes, it was, because the US insisted the Brits repay their war debts whilst giving Germany a Marshall Aid plan to kick-start the EU.

    When will the Irish realise that the US has repeatedly used Ireland: remaining out of the Anglo-Irish Norman ‘famine’ episode to populate itself with refugee, that ‘famine’ was caused by the same laissez-faire Norman Toraigh ideology that justified slavery in the Deep South. To play off against the UK to destabilise the UK (1916)and to ensure that Ireland is saddled with unpayable debts (Geithner/O’Bama)? And all to stop Ireland ‘Rising’ to become an equal partner in the Isles of Wonder. When will the Irish finally stop being under the yoke of oppression via ‘friends’ in Washington, Paris, Brussels and Berlin who sit back and laugh as the Irish Norman Media Elite recycle Cromwellian Victim Scripts to avoid their complicity with foreign usurpers of Irish Independence and prosperity being surfaced, analysed and recognised for what it has always been and remains: The acts of traitors….

    ” I regard the British National Health Service as one of the great achievements of humanity. Equally, after the great wars in Europe, people said people couldn’t come and live in hovels. We have to take a responsibility for public housing. Equally, it was said it was wrong that only the children of the rich have access to education. These are not wild, Bolshevik values. They’re values for decent living.

    “If we say we must roll back the State from our lives, and if you say this notion of wild market theory will govern our lives, it will have wide consequences.”

    The entire article is a depth-charge detonation beneath Ireland Inc and could easily have come from Andy Mooney’s pen……let’s hope Andy hasn’t captured the President via some occult means so that Higgins is now also channeling Andy via a QWERTY Ouija keyboard….LOL!

    ‘These are not wild, Bolshevik values. They are values for decent living’

  38. AlfieMoone

    Ireland lost it’s chance to shape the destiny of the EU when it agreed to a second vote over the Lisbon Treaty. It is now a powerless hostage. As a Net Recipient of EU funds over decades and a flagrant tax-whore it has ZERO credibility or power to threaten the EU with ‘leaving’. Unless, of course, the Irish people decide to risk their temporary ‘income’ surge to restore the long-term prospects of genuine trans-generational ‘wealth’, like their neighbouring British islanders have done. How likely is it that the Irish would take that risk? Vanishingly remote. This is 2016, not 1916 and now the Irish people must awake to the nightmare that they have thrown their country away and the only hope for their future is as part of an EUro French-German superstate. Unless or until the EU collapses when the possibility of independence will re-emerge. O’Leary is talking shite again. Who knew? First he says that he’ll leave the UK if the UK leaves the EU now he says he’ll agitate for the Irish to leave the EU if the EU doesn’t stop trying to make Ireland accept back-payment of Apple-Tax. How principled! He’s not calling for an Independent Ireland on principle, as part of a wider, deeper strategic re-visioning of what it means to be Irish in the C21st, like me, but as a last restort to protect it’s Norman Toraigh Gombeen Tax-Whore privileges… You…could…not….make…this…up…!

    Social Protection Minister Leo Varadkar has criticised Ryanair boss Michael O’Leary following his claim that Ireland should threaten to leave the European Union over the Apple tax ruling.

    • Sideshow Bob

      No, it lost when Charlie came back telling us only of the ¨free¨ money he had secured for us in structural funds in the early 1990s in return for greater integration in this undemocratic emerging Empire and, and our permanent agreement and acquiescence to what ever expansion, rule-making and even whole sale theft it´s non-elected apparatchiks decided to engage in.

      Our sovereignty was bought, and the price we were to pay to be paid thereafter was NOT revealed. We have paid in one way and will continue paying. The UK will experience the price of exit. In the end our sovereignty was purchased more easily than the quickest services of a cheap tart one Charles J Haughey, failed gun-runner and plastic paddy patriot. This was a man who treated the key offices of the nation as his personal vehicle for wealth accumulation while all the time beating out a nationalistic tune for his idiot followers. They swallowed it hook, line and sinker and defended him while he raped the country and afterwards while his faux-idiot protégé Ahern did the same. What an irony. We will be paying for the actions those two for many, many years to come. Perhaps, we deserve it for collectively and repeatedly accepting such low standards in public office.

      For me, the Lisbon and Nice “No´´ votes were only expressions of the awakening the nation had undergone and that we were now as a society starting to face up to the situation we had gotten ourselves into.

      I can´t wait for the next one. Let´s see if it passes even at the second attempt.

      • Grzegorz Kolodziej

        “I can´t wait for the next one. Let´s see if it passes even at the second attempt.”


        When we had the Lisbon Treaty referendum, I was quite vocal supporter of the “No” vote. I wrote an article in Polish about on the affect the Lisbon Treaty might have on tax harmonisation issue pressure coming from the “Carolingian” Europe countries, which is still on a website of the Polish MEP Janusz Korwin-Mikke. From the Polish perspective, the Lisbon Treaty makes the unsettled question of claims of the German Federation of Expellees (which is basically a federation of Nazis, distributing Nazi-glorifying DVDs gathering not as much the actual “expelled” – as their “expelled” status is hereditary) even more difficult, but I won’t be dragged into a discussion on that this week as I have written about it extensively in the past).

        From the Irish perspective, there is – like I said – the issue of tax harmonisation, a worry shared by Ireland and the Visegrad Group and Scandinavia.

        And even for those who think that tax harmonisation is a good thing, I say that no country in Europe who advocated tax harmonisation does it for the sake of the harmonisation itself – they do it for the sake of increasing business cost in countries like Ireland, Finland or Poland (evidence? Germany and Luxembourg, the tax harmonisation advocated, are prime destinations of money laundering in Europe – yes, prime, even before Ireland – it’s just that they do it in an even more sophisticated way; again, anyone with access to google can track the evidence I gave on that; btw, I do not recommend using google for search:

        But now I am not so sure if campaigning against was not a time wasted.

        First of all, I’m not sure if voting changes anything in the balance of power. Just look at Poland: since last October, the Carolingian Europe is trying to convince the rest and itself that the democratic vote was undemocratic and that the only democratic forces in Poland are the Soros-paid media who do not respect the outcome of the democratic vote. I’m sure if Ireland voted against the wished of the Carolingian Europe, the spiel would be the same, except I’m not sure if the Irish government would have the stamina to adopt the Polish government attitude of not really caring about what the EU Parliament says.

        Secondly, to save myself time, I’ll copy and paste what I have written on the Article 50 of the Lisbon Treaty on June 23:

        “If we look at the article 50 of the Lisbon Treaty, supposing they negotiate an agreement with the EU on what terms to leave, and UKiP is not satisfied with it, so they call for the referendum whether the Brits agree on those terms. Supposing the referendum returns “No, we do not agree”. It might be as well that this would stop all that 2 years negotiating-leaving period, or postpone it until we are all dead. Remember that Poland has already used that with the Euro currency – they said they will get rid of zloty, but they never said when (i.e., maybe in the year 3,000 AD).”

        Thirdly, there is this conundrum that on the one hand, Ireland is bullied by the EU Commission, but on the other hand, very few – if any – big US companies would be in Ireland if Ireland did not have access to single market. Remember what the US said to the UK at G-20? That the trade agreement with the Uk is low on the list of the US priorities and that the UK has to sort out the trade agreement with the EU first – and Ireland does not even have access to Commonwealth or multibillion Chinese interest the UK has (or rather had, because since China and Japan can no longer use the UK as their Trojan horse in the EU, China stopped the investment talk and Japaneese manufacturers might leave too if the trade agreement with the EU does not suit them).

        And last but not least, when there was a real chance to repatriate the powers from Brussels (= Germany/France/Benelux) into the national parliaments (maybe there is still is) after the Visegrád Group proposal to do away with the Lisbon Treaty and sack the EU Commission (this was immediately supported with Denmark, who also has a common gas strategy agreement with Poland and Norway), Ireland did not join those countries in their reformist push, neither did the Irish MEPs support the formal motion to sack the EU Commission submitted by the Polish MEPs by Mr Marek Jurek (a Hibernophile, by the way).

        So Irish politicians would love to keep winning elections on the wave of this country enjoying all the benefits it has from the access to single market, no tax harmonisation in Europe, access to the British market (albeit Ireland’s trade dependance on the UK has halved over the last 50 years) and the US investment – but no Irish minister or TD would lift his finger to stand up to those countries in Europe who plan to impose things like tax harmonisation onto Ireland.

        They all wait for the Visegrád Four to take all the slack, bullying and criticism from the Carolingian Europe and the EU Commission and gift the Europe of nation to them (which will soon be Visegrád Five as Austria expressed its interest to join the Visegrád Group). Then a thing like Apple comes up and everyone in Ireland is surprised, except for a few people like you and me. The Irish politicians AND THE IRISH ELECTORATE WHO KEEPS VOTING THEM IN appear to say: “where did that EU Commission bullying come from? We did all that arse bending, our Taoiseach allowed himself to be pat-headed by Mr Sarkozy, Tsarin Merkel told us we are the special case, we were the poster boy of Europe – and now they use the same language to us as they use to countries like Greece or Poland?”

        Ireland will never be able to have a proactive rather than reactive foreign policy that would anticipate things like Apple-bullying if the Irish keep voting in the same parties over and over again.

        We need a total revamp of the Irish political scene.

        We need to do away with the FF/FG oligopoly and we need a better opposition than the Labour-Does-Not-Work and Sinn Fein gobshites.

        In other words – we need a political system that is build on ideology rather than personalities (as if they had any anyway).

        I know it sounds bitter, but I am not denigrating anyone – I am simply saying that you cannot expect to keep the cute-hoorism that might have worked in the pre-Chinese tiger, pre-post-Greenspan $18tn bubbles world, but it is not going to work in a shrinking-wealth, terror-ridden, ultra-competitive world, wait for other countries to do the hard-talk with the EU Commission, have Mr Derek Scally rewriting German press mendacious articles on the Constitutional Tribunal in Poland in the Irish Times – and expect that pursuing such foreign policies will be treated better than other countries. If anything, it will be treated worse, because it failed to build any anti-Carolingian Europe alliances in post-Brexit EU.

        Voting paper itself does not grant advantagous position in Europe – having wise and courageous elites who use strategies worked out by think-tanks does.

        • Sideshow Bob

          Never post a short comment where a long one would do hey Grzegorz?

          I think the opposition was worthwhile because the recorded reaction of Sarkozy afterwards (and the likes of him) to the no vote showed the anti-democratic view point of the European political elite to the rest of us for absolutely everyone to see.

      • Truthist


        I think that it was Reynolds who came back with the funds from E.U..

        Haughey did not steal funds from the State ;
        Rather, he obtained “sponsorship” from individuals & banks, … & Brian Lenihan’s Fianna Fail private fund for Lenihan’s health recovery [ or something like that ].
        Haughey was just 1 of the rest of the Irish Government Cabinet who agreed — secretly from public disclosure at the time — to fund & give fire arms to some of the Nationalist Catholic population’s defenders who were under very serious siege by sectarian British Unionist & British Loyalist anti-Irish nationalist & anti-Catholic attacks.
        Dessie O’Malley [ political rival in Fianna Fail of Haughey's ] being in the Government Cabinet was — of course — also “a gun-runner” so to speak.
        Haughey “took the rap” from the Dublin 4 media ;
        Rather than be embarrassed by & tolerate the “gun-running” association as a perjorative, which Haughey did so indulge the Main-Stream Media & his political opponents & the so-called “Intelligentsia” — he should have been adamant that it a righteous response from the Government of The Irish State.
        Captain Kelly is moreso the victim though than Haughey in the hullabaloo about this righteous “attempt” by Irish State to protect innocent life in Ireland.
        Actually, from the way that Captain Kelly was abandoned would be the 1st meaningful evidence to support the argument that Haughey was arguably a “plastic Paddy to an extent”.
        Haughey would not be for Bertie Ahern.
        Haughey was scap=goated throughout his political career ;
        Emanating from British propaganda policy & “the enemy within” of the Irish elite [ perhaps most of the Irish elite really ].

        • Truthist

          scap=goated = scape-goated
          Haughey was middling far from being the most corrupt of Irish politicians :

          Most Irish politicians have been worse than Haughey.
          Haughey had his good points also.

        • Sideshow Bob


          You have been vocal here on the subject of housing and your experience of homelessness in the recent past. There is a lack of affordable and social housing in Ireland and you ( I am guessing you are a relatively young single male, and you don´t need to verify that ) are quite possibly very far down any list

          You have also asked about how (I think) global monetary policies have affected supply. I don´t have an answer for this, it is an interesting question though.

          I can tell you who the man is that dealt the biggest death blow to social ( & affordable ) housing in Ireland; his name is Charles J Haughey. He effectively stopped direct provision in 1987 (i.e. social and affordable housing provision was cut by 80% and has never covered), and he thereby deliberately created scarcity and pressure on the market, which in turn ramped-up property prices in the early 1990s. I.e. he deliberately initiated a speculative property bubble. He simultaneously introduced PFIs ( PPPs ) and alternative ways of adding debt unofficially to the balance sheet. He indroduced laissez-faire economics to the property market and all Irish Governments that have followed have continued that policy resulting in the crisis we have today. In the 1970s and 1980s ( Pre-haughey and under various governments) social and affordable housing completions per year ALWAYS exceed 5500 units. It ran at 20-30% of all housing completions, and we had roofs obver our heads. That 5.5k figure is more units than have been added to social and affordable housing stock in the last 5 years.
          Since that base of social housing has been removed the market ( and construction housing industry ) itself has de-stablised boomed and busted in spectacular fashion and now is very broken. And the Government dosen´t know what to do or dosen´t want to take waht seem to be the most obvious step it could take: re-instate direct provision.

          In 1966 too he was part of the Government that initiated Ireland´s right to buy scheme that over 20 years hollowed out the social and affordable by selling off huge amounts of the state´s housing stock to existing owners at what was effectively a massive discount. This is the same tactic that was adopted by the Conservatives to buy the British population in the 1980s. Turn everybody who can into a property owner, an instigate polices which aid them ( a property owner and amateur landlord class ) and keep them onside as your power base. keep them thinking they are rich and that you are responsibile.

          The sale of the stock had two effects here; it resulted in “residualisation´´. This is where in an area with lots of social housing the more socially mobile families with the means brought their own properties and then, later up sticks, and moved on. Basically, the poorer families were left behind and this included often the more socially troubled element and they were all concentrated in the old social housing estates. “Residualisation´´ often created a negative feedback effect – as an area gradually lost a part of it´s progressive social element many of the rest of the progressive people sought a way out too and such area´s social quality greatly worsened. Ballymun would be the most extreme example of this. In this way deprivation and social problems began to be concentrated by the market and the general problem with the image of social housing ensued.

          Economically, too, the people who sold on these formerly social and affordable properties ( bought at a discount) for a medium to large profit 10-15 years later added this now speculatively gained money ( a case of luck as it was not directly earned or created )to the already fuelled up market, driving prices ever higher. This re-invested money is visible in the market for second hand houses, where median prices exceeded prices for new houses for the first time ever in 1997. At this point house prices everywhere simply don´t reflect cost of building and maintenance anymore. We were not buying homes we were buying assets. This thing is called the property ladder, it is a ponzi scheme, and Governments like them because of the spending and taxes generated – the Government they no longer cared about the debt element because well they thought they wouldn´t be on the hook for it.

          Look, I could go on Truthist but it is late.

          Take a look at the following link to some Taoiseach´s questions. In 1988 Haughey clearly knew what was in-coming and was setting himself up to benefit us up on a road to free market failure.

          • Truthist

            Thanks Bob for ur helpful reply.
            I know that Haughey was corrupt ;
            But, I perceive him to be much less corrupt than many before & during & since him.
            At least, he was approachable on social justice matters, & was known to respond in a favorable way ;
            Reflect on what the great Tony Gregory complimented Haughey with ;
            And, this inadvertence with what Gregory had to say about Sir Garret Fitzgerald, & “Champagne Socialist” Michael — “Dimples” — O’Leary [ Leader of Labor Party & Tanaiste ].
            Very difficult for Haughey to do his job to his best ability & intentions when he constantly assailed “internally” [ within FF, from opposition parties, from non-public electable politicos ( journalists, "intelligentsia" etc. ) inter alia ], & “externally” [ Brit. propaganda & actual "dirty tricks" ].
            Haughey was forced accomodate very dubious right-wing people into his cabinet & policies too :
            Sinister & inept persons such as Charlie McCreevey, Mary Harney [ I think ], inter alia.
            If Haughey was actual Minister for Housing I believe that he would have been a great one ;
            Because he was the type of person who was very ambitious to leave a positive legacy with anything he did, & he had a flair for “sizing up a problem properly” & “getting things done”.
            Bob, I believe if u urself responded to the Housing Issue as an entrepreneur AND revolutionary, the problem would be solved.
            U are genuinely concerned about the victims & have very good knowledge etc.
            I “homeless AND roofless” — through absolutely no fault of my own but very much so throught the express pro-active actions of the Irish State — on a number of times in Ireland
            Christmas of a very cold winter
            summer period of this year.

            I will copy & paste what u wrote above with aim of looking into the points u made over the mid-future.
            Best that people rid the intrusion of the Civil SERPENTS from housing subject.
            Shipping Containers as modules with re-cycling units per each household for sewage, & other wastes, & also energy harnessing & other considerations to make the dweller truly independent & safe & comfortable etc is what should be done for now.
            No more tenancies too
            NO LANDLORDISM !

          • Truthist

            inadvertence = at variance with

          • Sideshow Bob

            Hi Truthist. First off, best of luck on your the housing situation, I know what this stress is like.

            And thank you for your vote of confidence.I would like to act usefully in this area, maybe I will get to do so in the future.

            We are going to have to agree to disagree about Haughey. I think and I am not alone in my viewpoint. For me his legacy was far more pernicious than that any other bad politician in Ireland of any ilk. A major part of that legacy was the subsequent ability of FF and the general public to look the other way when it came to Bertie Aherne´s indiscretions debt-driven economics and poor standards in office because of the promotion of property-value related notions of economic progress. The progress was debt driven, and social partnership has created debts and obligations which quite possibly will never be met.

            Two pillars of Ireland´s economic and social improvement from 1950-2000 for me are access to education and housing for all. These defend the weakest in our society and engender the possibility of social progress and these things are at the root of social justice for me. He attacked one of these, housing, in the name of the right. He got away with it by parading a false patriotism. That and we were financially clueless and didn´t see what was down the road for us. You ( and many, many others ) have very significant housing problems now DIRECTLY because of his actions. This is was not social justice. It isn´t even good economics when you look at it the medium to long term. It was the instigation of a new level of kleptocracy in Ireland, nothing more.

            Going away from CJ, if you ever want to see numbers on completions and median housing prices, etc, try the CSO website. The numbers don´t lie. The SCSI have good research documents available for free, too. They are far more reliable than the CIF. More straight talking and no stupid spin, though you do have to read between the lines a little. If there is a serious issue of concern in the area they are intelligent enough to be vocal about it. Don´t bother with anything the RIAI say, they exist in a little D4 bubble of their own making. Reality rarely penetrates it.

            After that you have blogs but be careful about what you read and who is writing it. Everyone has their limits and biases.

          • Truthist

            Interesting reply Bob.
            U make many important valid points.
            I still beg to differ about CJH ;
            He is scape-goat for the elite to blather on about.
            Even so, I have very strong stuff to castigate him for ;
            Stuff that is never said ;
            Certainly not said even infrequently.
            Again, we have had a discussion that is lost on an audience — which is a pity because I believe that we are mentioning vital points for society to reflect on & also contribute to — because a new article has taken over the mantle.
            I suggest that u refine ur points even further & insert them in logical order with numbers when apt to a future article ;
            Such is the importance of what u write about.
            And, I saying this although I disagree about ur overall view of Haughey, & some aspects of particular points u make in most recent reply.

          • Truthist

            lost on an audience = lost FOR an audience

  39. Bamboo

    I admire David’s effort to make sense out of the nonsense.

    To me it all started with John McCain when he was looking for a VP and found this in Sarah Palin. He discovered then that with pure nonsense that came out of her mouth generated a lot of following among the American people. Something that John McCain himself wasn’t able to do.

    Donald Trump understands the power of nonsense very well and brought the art of nonsense to the next level. Trump’s also used his high levels of narcissism and self-centeredness to generate even more followers.

    People growing up in the hippie era of the late 60s and early 70s and the nonsense that was produced by the psychedelic art and music will probably understand me.

  40. Can you as an individual have any effect on policy or politics in general. Read on.

    • “”A study of collectivist literature from leading Fascists, Communists, and Socialists reveals certain recurring themes that may be considered as the eight pillars of collectivism. If the values they represent are reversed, they become the eight pillars of individualism. In other words, there are eight concepts of social and political relationships and, with each of them, collectivists and individualists have opposite viewpoints.

      Communism, Nazism, Fascism and socialism all gravitate toward bigger and bigger government, because that is the logic of their ideology. Under collectivism, all problems must be solved by the state. The more problems there are, the more powerful the state must become. Once we get on that slippery slope, there is no place to stop until we reach the end of the scale, which is total government. Regardless of what name you give it, regardless of how we re-label it to make it seem new or different, c­olle­ctivism is totalitarianism.

      This leads to the stunning realization that Communism, Fascism, Nazism, Socialism, Neo-Conservatism, Liberalism, The New Deal, Progressivism, The Great Society, Technocracy, the New World Order, and most of the other political nostrums of our century merely are variants of the same thing. Its name is collectivism. “”


  41. Bloc chain technology promoted for national central bank fiat currencies.

    “”Blockchain won’t just kill banks, brokers and credit card companies. It will change every transactional process you know. Simply put, blockchain eliminates the need for clearinghouse entities of any kind. And that means a revolution is coming, a fundamental sea change in the way we do business”"


    For many , many people there has been no recovery the last 8 years.In Victoria you can’t walk anywhere without a beggars hat in sight. 120 plus people were camped on the Law Courts lawns last winter.

  43. Truthist

    Soros-funded, extremist pro-abortion group horrified by Trump pro-life coalition leader
    September 16, 2016 (LifeSiteNews) –
    The rabidly pro-abortion, George Soros-funded group, People for the American Way (PDAW), has expressed horror that pro-life political action leader Marjorie Dannenfelser has agreed to head a pro-life coalition for Donald Trump.


    Will the markets crash before the New year time line or before? It all depends if the central bankers can hold them up much longer or not. They are already starting to quiver. Volatility is rising..
    If they go before Nov we may not have an election take place.
    Will Hillary be resilient enough to last the campaign?

    It matters not who wins as the markets are going down regardless.

    As the screw turns the speculation increases.

  45. goldbug




    -> WHY NOW?





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