March 12, 2017

Our workers are being hit with the bill for those who opt-out

Posted in Irish Independent · 174 comments ·
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This week the column comes to you from New York — Hell’s Kitchen, specifically. I’m sitting in a café, looking out at a bar called Mickey Spillane’s. It’s funny how that name would have once terrified locals.

Today the name is in bright lights over a welcoming pub. In the early 1970s, Hell’s Kitchen was still run by the notorious ‘Westies’, the last of the Irish Mob gangs, under the leadership of Spillane.

Of course, these days Hell’s Kitchen has moved with the city. It is becoming trendy, expensive and displays that great indicator of social gentrification — flamboyant gay men walking dogs in waistcoats.

It is this constant reinvention — and, more accurately, the belief in the right to reinvent — that gives New York its special energy. Failure is a good thing; indeed, it is expected. One of my favourite New York expressions is: “If you haven’t failed, you aren’t trying hard enough.”

My friends here — all late 1980s emigrants from Ireland — have had more careers than most of us would have in three generations. Some initiatives work and some don’t, but they are still here, having a go.

We don’t need to be reminded about how far this mindset is from the prevailing one in Ireland, where failure is often seen as toxic and contagious. The person who fails is shunned and avoided, just in case you might catch the failure germ. Success is celebrated, and rightly; but for every success, there will be a failure and the failure should be the learning curve for the next success and so on.

This belief in the recurring cycle of what Keynes described as the ‘animal spirits’ drives US economic policy.

Animal spirits drive every economy. It is animal spirits that get us to take risks, to imagine and venture where we can make money, to assess that tomorrow we can reward ourselves if we put our heart and soul in some initiative today.

However, if too much of that reward for hard work is taken away in the form of taxes, people will assess the numbers and conclude there is no point taking a risk, working harder or having a go because in the end too much of this effort will be taxed and the money will be given to someone else in the society who isn’t having a go. If the doers give to the takers, why not be a taker?

When you hear that water charges will come out of some magical place called “general taxation”, what thought goes through your mind? You realise this means in plain English that the money will come out of your pocket, the taxpayer.

It is very clear that the Irish PAYE taxpayer is being squeezed every which way. If social welfare goes up, if the takers are going to take, then the doers will have to give and if this exchange becomes too onerous on the doers, they won’t give. They will give up.

When marginal rates of tax hit critical levels, the system falters and the black market takes over. Are we at this point yet? No one can be too sure, but the figures speak for themselves.

Figure 1 shows what’s been happening to income in Ireland, vis-a-vis the UK and the Eurozone.

FIGURE 1 HOUSEHOLD DISPOSABLE INCOME

Fig 1

Income has been growing here quickly as more people take risks, setting up businesses, releasing their animal spirits.

Traditionally, taxes should be going down as incomes rise because there is more tax to go around and, with more people working, the social welfare bill should reduce. But this has not been happening. Taxes in Ireland have been rising. And the gap between what we pay in income tax in Ireland on average incomes and what people pay in the UK and the rest of the EU on their average incomes, is large and getting bigger.

So how come this is happening? Well the next chart (Figure 2) tells its own tale.

FIGURE 2 TOTAL TAX REVENUE

Fig 2

It shows what you would expect: As incomes increase, the tax take increases. However, it hasn’t just increased, in fact the recovery in the tax take has been dramatic. You can see very clearly that the annual tax take fell to €37bn in the depths of the recession. But the recovery in the State’s revenues has been dramatic. Last year, the tax take was well above €50bn and by the end of this year should be close to €60bn. This means that taxes are up 40pc since the crash.

But where has this money come from?

The dramatic turnaround in the tax position is largely attributed to the surge in the number of people working. There are over two million working and paying taxes.

Historically, Ireland first hit the two million mark in Q1, 2006. This jumped to 2,169,600 people at work in Q3, 2007. After the crisis, it was only in Q2, 2016, that employment figures returned to their former glory and currently stand at 2,048,100 people at work as of Q4, 2016.

The massive upswing is creating its own demand and this is driving the income of the country. This increased activity is pushing up the tax take dramatically. Now here is the question: Where is that tax money going and what impact is it having on the society? Is all the money going on building infrastructure which will benefit the economy in the years ahead? Have we seen lots of new roads, ports, houses, schools, hospitals and the like being built?

No, we have not. In fact, the capital budget has been slashed, so much so that motorways and road building have been curtailed dramatically. Likewise, subventions to public transport have been reduced in real terms. Public house building is non-existent or at least is far, far away from a level that might give potential home-makers a break. This we know.

So where has the money gone and what might be the consequence of this spending?

Before we go any further, have a look at this chart (Figure 3). This shows the amount of people making themselves available for work here. You can see clearly that the number has fallen dramatically and not recovered since 2008. What does that tell us? It tells me that there are many people who are opting out of work.

FIGURE 3 ILO PARTICIPATION RATE %

Fig 3

This could reflect population dynamics, but with the youngest population in the EU, having too few people of working age is not our problem. The issue is whether they could be bothered working if they can get income elsewhere. Check out the chart. They are the takers. They are not working because their bills are being paid by someone else.

So let’s go back to the original idea that people create business so that they can have a go. The animal spirits drive them. But then they find that they are giving and others are taking. We can see that the tax take has risen, but taxes haven’t come down. What has gone up is social welfare spending. Now there may be some good reasons for this, but at least in the labour market the effect has been many tens of thousands of people deciding to take other people’s money, opt out of the workforce and not make themselves available for work.

This is not a sustainable position and the political party that moves to protect the taxpayers, speak up on their behalf and agitate for the givers, must surely be in a strong position in the years ahead, don’t you think?


  1. McCawber

    You could add the Irish failures who are also being screwed by the state.
    Ireland copied the UK bankruptcy legislation and then emended it to remove a lot of the things that made it possible for bankrupts to get going again.
    The worst item – The UK legislation protects a bankrupts pension.
    Why did the Irish state remove that protection for itsIrish citizens.
    This is a disgrace – many men are too old to repair that damage.
    Why David are commentators like yourself and Brian Lucey shining a harsh light on this inequality.
    These people need to have their situation highlighted.

  2. zeedonk

    Disgraceful stereotyping; “that great indicator of social gentrification — flamboyant gay men walking dogs in waistcoats.” Was it the gays that wore the waistcoats? I hope so because it’s cruelty to animals to have a dog wear them. Their coats do the job just fine without a “flamboyant” owner matching his socks to an item he put on the dog. And what’s with the “flamboyant gay men” thing David? Is this a cry for help?

    • jaysus

      We all know exectly what David means. Its a very discriptive discription. Get over yourself.

      • zeedonk

        It’s ‘It’s', and not ‘Its’, and ‘descriptive’, not ‘discriptive’, and ‘description’, not ‘discription.’

        A short course in spellin’ n’ irony for you, methinks!

        • Tony

          There should be an apostrophe in front of that lone n to go with the one behind it.
          (We can all be a grammar/spelling nazi)

        • Irish PI

          Jawohl Her ober sturm furher spelling inspector!! Ve will eliminate zer grammer und spelling untemenschen soon!

        • SMOKEY

          How about “Rump Rangers” or “Ass Bandits”, or “Bone Smuggler” or one of my faves “Ring Raider”? Fuck off now with your touchy feely PC bullshit.

  3. Adelaide

    “Only fools and horses work in a kleptocracy”
    “In a corrupt system the most sane response is to be likewise corrupt.”

    David implies that the ‘people who are opting out of work’ automatically receive welfare. This is lazy, show the proof. From anecdotal experience of friends, getting welfare in this country is next to impossible. I know plenty of people who are living ‘off-the-grid’ who sustain themselves on the black market, they own the roofs over their heads and have no debt, therefore they can comfortably get by on the little income they generate. They are intelligent and informed and have a made a conscious decision. Out of ideological grounds they have little engagement with the state, if any at all bar running a motorcar. They would rightly scoff at this lazy article, David painting them as dole scroungers, which could not be further from the truth. They are merely acting sanely.

    • Deco

      If you are in work, and you lose your job it is a complicated process to get welfare. The idea here is to keep people off the system, if they have shown initiative previously.

      On the other hand if you never displayed any consistent initiative for the labour market, and are a regular participant in the welfare system, the system will accomodate continuation.

    • nothisrealname

      Correct Adelaide ,as one who opted to work early in life and left school it is great to see those who opted out of work back then to educate themselves at secondary and third level taxpayer funded colleges pigeon hole working people and disparage them. He doesn’t show any understanding of the type of shite agency work and zero hours jobs,not even a contract that is often if anything available. I wonder is he aware in his ivory tower the contempt New York City is held in by so many ordinary Americans, illogical maybe but real. A good many Irish who worked in trucking with me from the Midwest all over the US would vouch for this.
      There is so much more to sorting out who are the givers and takers than this cheap shot from the vantage point of Hell’s Kitchen .

      • michaelcoughlan

        “He doesn’t show any understanding of the type of shite agency work and zero hours jobs,not even a contract that is often if anything available.

        I wonder is he aware in his ivory tower the contempt New York City is held in by so many ordinary Americans, illogical maybe but real. A good many Irish who worked in trucking with me from the Midwest all over the US would vouch for this.

        There is so much more to sorting out who are the givers and takers than this cheap shot from the vantage point of Hell’s Kitchen”

        So guttural and so real.

    • McCawber

      Getting social welfare is no problem if you are an unmarried mother.
      So much for equality.

  4. Tull McAdoo

    The last graph shows 35.000 all up the y-axis. This is incorrect.

    Having pointed out that error I will need more time to reflect on the article before commenting.

    Hope others reflect also, stay on topic and avoid cut and paste personal agendas. ;-)

    • zeedonk

      Now look here Tull, I didn’t bring the gays or the dogs-in-waistcoats into this article. David did. And he’s highlighting it as a sociologically significant phenomenon. What worries me is that broader elements in society will cotton on to this as ‘a thing’, and soon every Mrs.Mop or Mr. Murphy will have their heat-exhausted and uncomfortable mutt charging down the pier or through the park with these idiotic waistcoats. Soon they’ll have pockets on them for mobile phones, or even make them out of fake fur! Imagine! Your dachshund in a fake leopard skin waistcoat. God forbid!

      • Tull McAdoo

        “idiotic waistcoats” “mobile phones”, you are just not using your creativity!

        Combine the two in the example above, and re-name the find my iPhone App, you get, yes,

        “Find my mutt” & “Find my butt”

        Just a question of Marketing my friend.

        I swear I am wasted on this site.

  5. Adelaide

    Fact: Irish taxpayers are one of the highest taxed in the world (52% = direct + indirect tax).

    David asks a good question but fails to answer it. Where is all the tax money going?

    • Deco

      The problem here currently is that nobody will EVEN ask the question.

      And yes, where is all the PAYE money going ?

      Public services are rubbish. And yet they are extremely expensive.

      The institutional state is operating like a scam.

  6. hasbeen

    Well done David, you have exposed the takers in our society, the people living it up on 187Euro a week. Are you seriously suggesting that because some waster does not apply for a job the employer will not employ the person who does? The net result is the same and the employer gets someone who wants to work instead of some useless cnut.
    National income may have gone up, but, I know no one who has got a pay rise.
    So who has?
    Not the people who have an 11 month contract that will not be renewed. Not the person in a service or support job on 21,400Euro – less tax/prsi/usc. (There are hundreds of them 10 minutes walk from me). Many of these are on 3 year contracts.
    The recovery has been a bad mother and the strongest cubs have hogged all the goodies.
    This income inequality is dangerous for society as the person who has nothing has nothing to lose.

    • Deco

      In the East region of Ireland, there is now full employment again. And there are still people who stick with FAS schemes, disability allowaces, and every mechanism to avoid work.

      Concerning income inequality – what does SIPTU boss Jack O’Connor do that merits his massive salary ? Or what about Brendan Ogle, who has made a career out of getting money out of the system for certain near monopoly providers.

      A large part of the inequality now comes from people who are on massive salaries from
      - being on the payroll of the state, but delivering an underperformance of public services
      - being a lobbyist for state money
      - being a business (like Rehab, or the FAI ) operating close enough to the state system to access public finds
      - being on a pension for running part of the state
      - working in a bank that is now taxpayer owned.

      Do you not think that if people do nothing, or doing very little and living off PAYE taxpayer money earned by people doing actual work, is a form of inequality ?

  7. Deco

    We currently have a society where entities like TASC have enormous power, and influence on the media discussion.
    And they use that power to continually drive guilt trips, designed to manipulate those who are paying for the system.
    Their economic power is emormous. Politicians and media commentators are afraid to challenge them.
    When they are challenged they respond with a vendetta of viciousness, and categorization.
    The point that one makes is NEVER discussed. Because that point leads directly to their income stream, and institutional power.

    In Ireland, we have a term for all of this mad statist expansionism, and accomodation of power seeking institutionalism.

    BERTONOMICS. In Chairman Mao fashion, (but with an anorak) the Great Ditherer, proclaimed “let 1000 quangos bloom”.
    And they have flourished, even as they sucked the rest of the society of life.
    They pushed forward, even as the young nurses went to the NHS, and as skilled professionals drifted to a wide range of economies that encouraged effort.
    There was a surge in righteous superficiality from those who seen state power as the solution.
    And they felt buttressed by those of a similar mindset on the continent.

    Despite near bankruptcy, the institutional state got itself on the media and advocated itself as the solution to the problem that it caused.
    It proclaimed itself to be the only adult in the room, and demanded more supervisory powers.
    The direct economics of the situation indicated that statism had gone out of control.
    Those profitting from statism, declared that the problem was that the state did not have enough control.
    There was no restraint in the institutional state. It gobbled up banks, and prevented them from cleaning out the incompetents.
    It pushed new taxes, new levies, more regulations, and an increased obsession with preventing people from doing whatever they were doing.

    That which is not prohibited, becomes officially mandated.

    This is not merely an Irish peoplem. But it is a problem currently for the Irish. In effect statism has replaced alcohol as the chief source of delusionary thinking.
    The debts are no longer in the private sector but in the public sector.
    In our craving for security, we have a vast complex of institurionalism that is creating very little of actual value, and endlessly finding ways to disincentize effort.

    Meanwhile the IDA sells this place as something dynamic, shiny, etc… Really the IDA are becomming a one trick pony.
    The universities are floundering as a general malaise sets into society, and kids spend more time on facebook than actually reading hard concepts.
    In rescuing consumerism, we have pummeled prodcuctivity. But then the media were always more concerned about shopping than debt recitification.

    Work is better than welfare. Pretend work, pretend value, pretend policy making and work that is not needed is why the USSR collapsed in a morass of nonsense.

    A proper functioning housing market is ALWAYS healthier than subsidized housing, or free housing in the remote villages where there is NO work.
    But the institutional state needs supervisory acitivity, and power on display.

    Call it the FAS factor. Or the Rehab CEO salary factor. Or even the Dun Leary Harbour Commission set of accounts factor.
    In other words the massive waste that is going into producing zero results.

    The institutional state is over-extended, oversized, inefficient, badly run, and rampant with nepotism. It badly needs to be rapidly downsized.

    This is not merely an issue of political opportunism. This is a case of problem solving, with a view to the prevention of economic collapse.

    Ireland is the most indebted country on the planet. Ireland is hiding this in Eurozone membership. With an EU that is increasingly inept and incompetent, we will soon not be able to hide that.

    We have a limited time period to prevent another economic collapse. We are all busy fools, who are ignoring the real financial predicament, and using our labour in return for nothing.

    Except those who are avoiding the TASC mandated extortion racket that is the institutional state. They have wised up.

    Ireland’s current economic system, based on increasing statism, incompetence, a one trick competitiveness strategy, oligopolistic arrangements, and EU obedience, is a hamster in a wheel route to misery.

    Reform the state system or fail, Ireland.

  8. Deco

    Finally, we see a discussion coming (slowly) close to the topic that urgently needs to be addressed. The debt/savings level of working people.

    Because even beyond disposable income, there are stealth taxes, levies, duties, plus the HIGHEST VAT/Sales tax rate in the OECD.

    End result those that work are left with very little. The incentives .

    It is not that merely risk taking is disincentivized. It is now much worse than that. Effort is disincentivized.
    Everything is means tested to the point that if you work hard and put money into the system, you end penalized should you ever need any of that money back.
    On the other hand if you put nothing in, you can line yourself up for subsidized housing.

    The one thing that is incentivized, is refusal to participate in the active labour force on a continual basis, or to make any effort.
    And why is this ? Well, those who refuse to put in an effort are very useful politically.

    They will always butress demand for the institutional state, and vote in favour of anybody who advocates statism.
    they have outsourced responsibility to the state, and the state needs people to outsource personal responsibility, so that the institutional state will have a hardcore fan base.

    I am reminded of a story told by James Howard Kunstler.

    Kustler was invited to give a speech at a high school in New England, where everybody was pumped up on “politically correct” views.

    In any case, somebody asked a question “what will we do about the poor ?”

    Kunstler replied “give them cocaine”.

    There were gasps, of shock.

    And then Kunstler paused and remarked ” well, that is effectively what is going on now as things stand, with the welfare programs”.

    They are incapacitated, except when it comes to consuming mind altering substances and voting. They are then pumped with television and advertising.
    But that is acceptable. They are the “disadvantaged, the marginalised and the underpriveleged”.
    Notice how they are always given the welfare drug by those who are most steadfast in their advocacy of statism.
    These same entities need a reward mechanism in place for those that continually demand.

    What I am saying is that there is a certain point on the political spectrum that is essentially in the business of promoting welfare, like junkies promote cocaine.
    And then these same welfare recipients become an addicted cohort who will always vote for the political option that gives them free stuff.

    This is the politics of parasitic behaviour. One could add that certain wealthy welfare recipients are prone to the same tendency.
    Just look at the EU, and the lobbying that preceded ECB decisions on Irish private sector bank debtors. Or Washington under Obama.

    We currently have a society where entities like TASC have enormous power, and influence on the media discussion.
    And they use that power to continually drive guilt trips, designed to manipulate those who are paying for the system.
    Their economic power is emormous. Politicians and media commentators are afraid to challenge them.
    When they are challenged they respond with a vendetta of viciousness, and categorization.
    The point that one makes is NEVER discussed. Because that point leads directly to their income stream, and institutional power.

    In Ireland, we have a term for all of this mad statist expansionism, and accomodation of power seeking institutionalism.

    BERTONOMICS. In Chairman Mao fashion, (but with an anorak) the Great Ditherer, proclaimed “let 1000 quangos bloom”.
    And they have flourished, even as they sucked the rest of the society of life.
    They pushed forward, even as the young nurses went to the NHS, and as skilled professionals drifted to a wide range of economies that encouraged effort.
    There was a surge in righteous superficiality from those who seen state power as the solution.
    And they felt buttressed by those of a similar mindset on the continent.

    Despite near bankruptcy, the institutional state got itself on the media and advocated itself as the solution to the problem that it caused.
    It proclaimed itself to be the only adult in the room, and demanded more supervisory powers.
    The direct economics of the situation indicated that statism had gone out of control.
    Those profitting from statism, declared that the problem was that the state did not have enough control.
    There was no restraint in the institutional state. It gobbled up banks, and prevented them from cleaning out the incompetents.
    It pushed new taxes, new levies, more regulations, and an increased obsession with preventing people from doing whatever they were doing.

    That which is not prohibited, becomes officially mandated.

    This is not merely an Irish peoplem. But it is a problem currently for the Irish. In effect statism has replaced alcohol as the chief source of delusionary thinking.
    The debts are no longer in the private sector but in the public sector.
    In our craving for security, we have a vast complex of institurionalism that is creating very little of actual value, and endlessly finding ways to disincentize effort.

    Meanwhile the IDA sells this place as something dynamic, shiny, etc… Really the IDA are becomming a one trick pony.
    The universities are floundering as a general malaise sets into society, and kids spend more time on facebook than actually reading hard concepts.
    In rescuing consumerism, we have pummeled prodcuctivity. But then the media were always more concerned about shopping than debt recitification.

    Work is better than welfare. Pretend work, pretend value, pretend policy making and work that is not needed is why the USSR collapsed in a morass of nonsense.

    A proper functioning housing market is ALWAYS healthier than subsidized housing, or free housing in the remote villages where there is NO work.
    But the institutional state needs supervisory acitivity, and power on display.

    Call it the FAS factor. Or the Rehab CEO salary factor. Or even the Dun Leary Harbour Commission set of accounts factor.
    In other words the massive waste that is going into producing zero results.

    The institutional state is over-extended, oversized, inefficient, badly run, and rampant with nepotism. It badly needs to be rapidly downsized.

    This is not merely an issue of political opportunism. This is a case of problem solving, with a view to the prevention of economic collapse.

    Ireland is the most indebted country on the planet. Ireland is hiding this in Eurozone membership. With an EU that is increasingly inept and incompetent, we will soon not be able to hide that.

    We have a limited time period to prevent another economic collapse. We are all busy fools, who are ignoring the real financial predicament, and using our labour in return for nothing.

    Except those who are avoiding the TASC mandated extortion racket that is the institutional state.

    Reform the state system or fail, Ireland.

    • McCawber

      Nothing to add other than congratulations on a great post.

    • “Ireland is the most indebted country on the planet. Ireland is hiding this in Eurozone membership. With an EU that is increasingly inept and incompetent, we will soon not be able to hide that.”

      The nub of the problem is debt. How do you rid a system of debt when the very money system used is debt. Any increase in the money supply increases debt. The debt and the interest on the accumulated debt (personal, corporate, institutional and government debt) is what is draining the system.

      Close down the central banking fiat money system and the commercial fractional reserve system. If not then we are done. Nothing will improve until the money system is fixed. All else is in vain.

      The money system will never be fixed until there is a realization that it is the root of the problem. This issue is never discussed or even acknowledged as the problem.

      It is not cocaine that is issued to society, we are in fact credit junkies. That is the fix that is killing all. We overdose on Credit. (Debt).

      • Deco

        We have not been weaned off debt. We have simply found a different debt facility.

        There is a fundamental problem with our debt addiction.

  9. Adelaide

    Belarus Drops Social Parasite Tax

    http://www.taxationinfonews.com/2017/03/belarus-drops-social-parasite-tax/

    Belarus government’s ‘parasite tax’ (introduced in 2015) has been temporarily halted by mass protest.

    The ‘parasite tax’ is an annual fee/charge/fine on people who are not paying their fair share of tax. Officialdom’s line is “to compensate the government for the tax revenue losses suffered due to taxpayers’ unemployment.”

    When you re-read David’s article, a ‘parasite tax’ seems like the logical next step.

  10. jaysus

    We are also importing more takes also quaintly called “refugees”. Economic migrants looking for free money and housing. Latest statistic showing that 40 % of Nigerians in Ireland are unemployed ie living like parasites off the state. I wager a large proportion of these are working in the blackmarket.
    Say for many of the migrants from east europe, middle east and africa.
    This also needs to be stopped urgently.

    • Pedro Nunez

      +1, its another form of ‘opting out’, which wasn’t available to the 1980′s generation. We need freedom of labour, not freedom of movement, (you need to prove you have ajob to come).

    • Tull McAdoo

      If “40 % of Nigerians in Ireland are unemployed”, then it follows that 60% are employed.

      That being so, then, that means that the Nigerians have a participation rate of 60% which conforms to the average outline in Fig 3. above.

      Which also means that the Nigerians are “pulling their weight” so to speak as much as anyone in Ireland.

      Well done to the Nigerians.

      • mcsean2163

        +1, thanks for highlighting the previous stupidity!

      • yadayada

        No. Like every other ethnic group, including the indigenous, a proportion are children, house wives and old, and therefore not employed. If 40 % of Nigerians are on the dole, that is a colossal unemployment rate.

        • Tull McAdoo

          “Participation Rate” is a metric used by Economists among others and usually refers to those above 15 years old and below retirement age ( Fig 3 above) which as you can see excludes children and the old.

          Housewives do not qualify for dole payments unless they are actively seeking work and are available to take up employment.

          Any dole payment they would receive would be means tested and contingent on their partners income. If their partner was on the average industrial wage then they would most likely receive no payment at all.

          There are a lot of what’s often called “Urban Myths” bandied about when discussing what /where and how much social welfare payments are made in transfer payments.

          • michaelcoughlan

            “Any dole payment they would receive would be means tested and contingent on their partners income. If their partner was on the average industrial wage then they would most likely receive no payment at all”

            Thats right. If I wanted to sign on all I would have got were credits even though I paid tax during the boom. The fuckers in charge don’t get it that the money I paid in tax was MY MONEY.

  11. Deco

    The Irish Labour market is dysfunctional. That is the point of the article.

    And he is correct.

    The geniuses in TASC have decided that there is a preferred wage level for those running the institutional state, and a preferred wage level across the broad economy. And these numbers make them warm and fuzzy inside.

    But their targets are idiotic, and ridiculous. And their power to influence policy is dangerous.

  12. Deco

    We have an economy that is dominated by the pursuit of excess leverage, as a policy objective. As Nicholas Nassim Taleb pointed out, this produces increased fragility, not increased stability.

    In fact this is now the expectation in most Western countries. Politicians who push for leverage are cheered by the media. Because this serves the short term self interest mindset of the mainstream media.

    And meanwhile, we have the state system (and all whose with an income form that system) in relentless pursuit of the maximization of their footprint, in the economic system.

    This pursuit is relentlessy excused/justified on the basis that it is for the benefit of those who are paying for it, and outside the system.
    We have reached the point in most EU countries, where there is a mountain of official opinion that all advocates the one thing as being wise – more state control.

    State ownership has been dropped since the fall of the USSR (except in the PRC). In it’s place is the primacy of state control.
    We live in an era of private ownership, and rigid control. This model existed before to a degree in France before the Revolution.
    And it is the official economic governance method in continental Europe from 1940 to 1944.

    Yet, that system is excessively sized. We do not have a debate about it. Just a relentless argument advocating more control.
    And this induces a higher level of corruptiont in society. Debacles like debt write downs for dodgy billionaires become more frequent.

    Tow elements are now central to policy making
    – more state control, including in reference to the EU imperial state.
    – keep everybody busy, pointlessly – whilst fed with lies about it all being for their own good, sustaining Ponzieconomics.

    These two elements are what have sustained the “WRECK-overy”. A phase of busy activity with no results for those responsible for the activity.

    And we know that it is a sham because the debt levels are continually ratchetted up. And this is sustained by ratchetting up asset prices.

    And asset price excess is used to generate effortless growth. Or at least the effort is not being measured. That effort exists.
    It shows up in people doing more work for the same take home pay as before. There is an efficiency gain which is directed to sustain the financial sector.
    It is buried into that which is not measured, or kicked into the future.
    Suppressed interest rates, encourage more debt levels. Which in turn force people to work harder and longer, for less.

    This is the effect of low interest rates on economic activity, in tandem with excess regulation.

    You get cart before the horse economics. The objective is to keep asset prices up, and consumer confidence high – therefore everybody must be kept busy and broke at the same time.

    The rich stay rich. The workers stay working, until they are beyond retirement age.
    The poor are sustained on welfare, and welfare keeps them obedient. Those that escape serve as wage deflators.
    And those that stay poor, sustain petty crime, keep make sure that asset prices in safe areas are accentuated,
    whilst sustaining machine political options that promise “something for nothing”.
    The more “something for nothing” is given the more is needed.

    Societally this is a wreck. It was tried before in the last century of the Roman Empire.
    The Patrician class and the Praetorian Guard determined who was in power, and policy.
    The people got fed up being pumped with lies, and the regime ran out of the ability to sustain “bread and circuses”.
    A regime is degenerate when it relies on circuses for approval, whilst masking inner deterioration.

    The whole thing is a charade. The real objective of the past was to make everybody work harder to recover the financial asset price valuations that were always stretched.
    In fact it was the objective for the decade beforehand also, except it was limited by the power of the state.

    It makes life cruel, and because it is the policy is driven by kindness to the well connected, with everybody else being given the bill
    (on the back of lies).

    There is a relentless need to push those who endure it into guilt-trips – so as to make sure that they never wake up to realise that they are being scammed.
    The active participants must be relentlessly induced to do more for the system that is extortive and patronising.

    It is a game of poker, and unless you are a recipient from the current policy framework, you are the sucker.

    Of course, it is not told as a game of poker, but is sold as a social contract.

    We are all sold the idea that you are only a good person if you obey it.

    So where does the money go ? It goes towards a massively complex, mismanaged statist monster, which sells us a series of lies in order to access priveleges and resources for it’s civilian commandant class.

  13. michaelcoughlan

    @adelaide.

    It’s a real pity you don’t post here more often. You are right on so many fronts: The article is lazy in some respects and a cheap shot in others and didn’t even speak about the elephant in the room which is that the taxes are going on interest payments on the national debt.

    It also didn’t contrast something extremely important I feel which would really illustrate what a really and truly dysfunctional society Ireland has become. McWilliams didn’t attempt to figure out who the opt outers are.

    So McWilliams let me tell you what I think. First of all lets look at the following. The largest ever emigration out of Eireuba since the foundation of the state has been 2015, 2014, 2013. Mostly the graduates. I think they know something.

    Next who are the opt outers? I can’t say for sure McWilliams but I’d say a large section of them they are the husbands and wives of spouses still working and they are staying at home to mind the kids since the whole thing is so fucked up they would lose a fortune going to work. Add that group of people to the people like Adelaide identified who know that the establishment here fucked them overboard 10 years ago and I’d say your on the mark.

    NEXT OBVIOUS QUESTION: If the young people are leaving in such exodus numbers and the married men and women are staying at home to mind the kids where are all these extra workers coming from swelling the numbers at work?

    Ans; all the dirt cheap labour immigrants IN here.

    That’a that Dathi.

    The Irish people with the Real Animal spirits are leaving the country or leaving the work force.

    Michael.

    • Adelaide

      What’s the biggest cohort of people who opt out of the workforce and receive welfare? Pensioners. It’s a valid argument. It’s dole for the elderly. Does anyone have a moral right to a portion of your income without your consent? Just because the unenlightened majority slave their way towards taxed impoverishment does not mean the enlightened should be enslaved too. Tax should be voluntary. Both the amount and where your amount is to be designated, let the consequences of that radical notion take its natural course.

      • michaelcoughlan

        Once again excellent.

        Trouble is and I have been saying this a while now;

        The know the ponzi game is collapsing so they are taxing wealth (asset stripping) the citizens in house taxes for example to save their mates in the derivatives “industry”.

        Moral morass or what? Nazi logic. No end to it.

      • Deco

        The people over 60 are not measured in workforce participatin rates.

        And yes, they should not have to work.

        But unfortunatel many of them do work. Because of the cost of living.

  14. Deco

    Are the government getting communication from the IDA on the issue ????

    http://www.independent.ie/irish-news/politics/we-must-cut-taxes-or-suffer-job-losses-to-other-countries-paschal-donohoe-35522615.html

    [
    Mr Donohoe insists the marginal tax rate needs to be lowered if Ireland is to remain an attractive destination.

    The warning comes as reports suggest UK Prime Minister Theresa May could formally trigger Britain's exit from the European Union on Tuesday.

    ..

    Mr Donohoe's comments could be perceived as a pitch to replace Finance Minister Michael Noonan under the next Fine Gael leader.

    Mr Donohoe's call for lower tax chimes with recent comments by Social Protection Minister Leo Varadkar who said Fine Gael should reduce tax because "people know best how to spend their own money, and deserve to be rewarded for work".

    ]

    [
    He says the resources should be used to improve public services "but only when it is accompanied by relentless reform".

    Mr Donohoe says that Fine Gael vision must stand out at a time when the Dail is filling up with "absentee legislators who rejected the chance to govern in favour of perpetual protest".
    ]

    [
    He concludes that Irish politics is moving "further and further to the far left" in "an auction of outrage over every single matter".
    ]

    Donoghoe makes vlaid points here – but, it is obvious that the public discussion is determined with those who have a vested interest in continued control and extortion.

  15. a_tech_hed

    Whichever bunch are in charge, I don’t think it makes much of a difference, need to look at how to get long term unemployed back to work. The biggest issue for someone collecting the dole is not about doing something constructive with their time, it’s about how much more money per week they can potentially earn.

    Most of the people receiving benefits might be looking at minimum wage jobs with little or no ‘career opportunities’. So why sacrifice your medical card, rent allowance, €180+ per week for a job that pays €300 per week. It makes no financial sense for these people to do that, especially when they know how difficult it is for them to get back on the benefit scheme. This has been well covered over the years but never addressed.

    It seems there are only 2 options for cases like these. Either you raise minimum wage or gradually lower the dole. Until then, we will always have a massive number of people living this way regardless of who is in power.

    I know there are schemes like ‘job bridge’ and the ‘back to work’ scheme but I don’t believe long term unemployed are interested unless there is a very real and tangible benefit for them returning to work.

    • michaelcoughlan

      “Either you raise minimum wage or gradually lower the dole. ”

      You could lower the cost of living and reduce taxes. I won’t be holding my breadth.

      • a_tech_hed

        The cost of living is way beyond their control. Plus, they are interested in inflation not deflation, that’s the only option they have to beat the juicy debt they took on.

        Lowering taxes with all that debt to pay, not possible when your budget is made in Germany…

  16. michaelcoughlan

    “He concludes that Irish politics is moving “further and further to the far left”"

    Donoghue is right because the next gubuernment will be a fianna failure me feiner coalition.

    Donoghue like all idealogues like suds, bernanke, makes no connection between his own behaviour and the bottom dwellers coming through the port holes which is what happens when a ship sinks rather than when the tide rises.

    • Deco

      That is a consequence of drift towards the growing statism in society, that follows the model of governance that is believed by those who believe in the state and the EU.

      They assumption is that anybody who does not look twards statism is flawed.

      • Deco

        Their answer to everything is more state control, regulation and extortion. Of course they would. A demoralized populace, is fed an endless series of misrepresentation about failure that comes as a result of a lack of statism.

        The only people with an sense of direction, or responsibility concept, get frustrated and leave.

        Which is perfect – because if they waited around they would provide an intellectual opposition to the statists.

        • Mike Lucey

          @Deco

          “The only people with a sense of direction, or responsibility concept, get frustrated and leave.
          Which is perfect – because if they waited around they would provide an intellectual opposition to the statists.”

          Perfectly correct, except I think the country’s well-educated / well-trained that took the plane over thee past eight years may have provided more than just “intellectual opposition”. I think, had they no emigration options, we would have seen a massive revolution by now and I have no doubt that it would have been a violent one.

          A quarter of a million+ disgruntled young Irish men and women that would have had no job options, surely by now would have exploded!

          I often wonder if the Irish only spoke Gaelic as their everyday language, how different things might be! I think the ‘statists’ must secretly be thankful to the `brits for the eradication of the native language even though they would say otherwise.

  17. Deco

    Here is a very inspiring story of the renewal in an American small town, against the centralization of power, money and control.

    https://www.youtube.com/watch?v=kChc7PVQFwA

    The best part is towards the end. In fact it is a beautiful story.

    The saving, and resurrecting of a small town.

    For building codes – they rebuilt the town’s main street according to what it once was. There is no “big box” “category killer” retailers, surrounded by bland car parks, and the endless banality of the same thing in every town (which is a widespread problem in America – and which is increasing in Ireland, as a result of urban commercial rates that drive business out of the town centre, except the alco-business).

    The genius of simplicity.

    Perhaps there might be a useful lesson here for Munster, and Galway, where this is still possible due to community spirit, and the role of tourism. No chance of this in the East region. Too much debt, endless commutting, Chain-stores, high rates, and the obsession with clearing all the regulations, levies and simply surviving in high cost Ireland. etc…

    No evidence of a quango, or state policy anywhere in sight. No party machine politicians to claim credit or to get their cut.

    This is exactly what we are killing in Ireland, with the current obsession with statist economic control, centralization, and regulation of everything.

    These people followed their heart, and produced something beautiful, renewable and communal in America. And they are actually creating a beautiful experience to others who visit the location, and feel inspired.

    Note the references to “take a change”, “risk”, “threw everything we got into this”, “motivating me”, “freedom”, “we spent all our money”, “nobody was watching, so this was a big learning experience”, and “how much better it feels”.

    The enterprise ethic in full flow.

    In Ireland we are stamping that out, and bringing in large corporates on low tax rates to make up the difference.

    Maybe we have a model that is as dysfunctional as the labour force.

    No surpise, the same statist ethos is n control of both.

  18. McCawber

    You asked a question about the black market.
    The fools think the answer is to get rid of cash so that every financial transaction is recorded.
    What the fools don’t realise is that the black market will simply use bartering as a means of payment and will adapt very well.
    Who knows in a weird way Tony Brogan might get his wish, the people might start using silver as a means of payment again.

  19. McCawber

    The state needs to rectify our bankruptcy legislation as a matter of urgency and give people back their dignity and allow them to retire in piece.
    This state is the big vulture and it created the carrion that are now feeding on ouaging entrepreneurs who have been ruined by the vulture state and FF, in particular, whose policies created our meltdown.
    These people have no voice and their mental stress and in some cases suicides are being ignored.

  20. [...] falling on fewer people, who are being asked to pay more. On the same topic Mr David McWilliams: Our workers are being hit with the bill for those who opt-out | David McWilliams Income has been growing here quickly as more people take risks, setting up businesses, [...]

  21. Deco

    Today, Turkish political despot and one party state ruler Erdogan has decided to make numerous jibes about The Netherlands. He is behaving like a bully and really does believe in intimidation.

    The irony of Erdogan’s jibes is rather remarkable.

    Erdogan is trying to push in his own version of the Enabling Act, and effectively rule on his own personal whim. He has tried this numerous times before. But he never gives up. That is bad for Turkish people. But they have been given relentless propaganda. If they believe it, then there will be consequences from the outside world.

    In making his remarks, about the Dutch (which are actually inaccurate as well as disrepsectful) Erdogan he is assuming that the world outside Turkey does not know about the Armenian Genocide.

    His remarks should serve as a reminder concerning the Armenian Genocide. Germany has apologised for is era of miltaristic genocidal mania. Japan has apologised. In fact many countries have apologised for their past.

    Except the regime in Ankara.

    Can you please all discuss the Armenian Genocide, so as to cause Erdogan as much embarrassment as possible ?

    Post comments about it on the internet, about the Armenian Genocide.

    Please cause Erdogan as much embarrassment as possible.

    And buy NL goods and products when you see them in support of The NL.

    Erdogan is a bully, and it is a joy to undermine him.

  22. Pie Squared

    Interesting charts David.

    Accepted debt is no doubt the largest sponge when it comes to mopping up the tax money.

    Animal spirits or those with “get up and go” are the business makers and workers in any economy. As noted by Michael Coughlan, many of our own with “get up and go”, “got up and went”, over the period illustrated in the graphs and of course have done so successfully for generations due to the Government’s “export on the hoof” policy.

    Those that are left behind, are by and large those who work in Dublin and the Culchies.

    Those who work in Dublin are paying heavy mortgages for fairly crappy, (on a Western scale), accommodation or paying high rent for that same crappy accommodation or spend 5 days a week living in traffic or worse sitting on snail rail, to make a buck. The cute hoors in Dublin eventually end up with an impressive balance sheet and look down on the Culchies.

    With 42% of our population living in the Greater Dublin area and 20%? 30%? commuting to the Fair City, it would be useful to see and understand the regional stats.

    The Culchies in Leinster who don’t want to commute 3-4 hours a day i.e. 15 to 20 hours a week (or 2-3 days a week!) or who don’t want to live in crappy expensive accommodation or who don’t have the “get up and go” to “get up and go”, are very likely those not contributing to the tax take. For obvious reasons! The regions are populated with public servants who have no choice but to pay tax and those lucky enough to get the odd private sector job in a regional city (as rare as a month of sunshine in an Irish Summer!) Also in the regions, practically all professionals from doctors, to physios to tradesmen and painters run cash businesses exclusively, as they are not party to the impressive balance sheets in the Big Smoke. (The regions have their own cute hoors too, thank you very much.) Much is made of agriculture and tourism business in the regions, but farming is often a weekend business, especially for the small farmer and tourism is seasonal – with no tax breaks to compensate for same. If there were, you might see a lot more enterprise in these part time sectors.

    Then of course we have the “housing crisis” madness while the rest of the country is empty and the idiocy of the country salary – as Dubliners balance sheets need to be boosted! And of course culchies need to earn their Dublin salaries by commuting up to 20 hours of their own time each week???

    As mentioned time and again, Dublin is not Ireland and Ireland is not Dublin. Ireland’s enormous diaspora (especially of young and recent graduates) and Dublin’s housing crisis are symptoms of the same thing – no meaningful investment in the regions since the Famine and poor regional and urban planning (I include public transport planning in this definition). If Ireland continues on this exceedingly dumb path, of all roads lead to Dublin, all jobs in Dublin and no decent public transport into Dublin well the phenomenon you notice is here to stay.

    No further investment in major roads I can understand. The road network is vastly improved in recent years. Maintenance is probably ok, for now. But are you aware train journeys in Leinster can now take double the time of car journeys?? And the Luas takes 50 minutes into Dublin City Centre with NO express services?? Unbelievable!!!!

    Guess the solution is just saw off Dublin from the rest of Ireland and build 100 storey skyscrapers so the animal spirits can keep it all to themselves….Why not call it Mickey Spillane’s Hell’s Kitchen….

    • Deco

      The Luas was a PR stunt by a hereditary politician, who never fixed anything in her life. Michael O’Leary (one of her constituents described the essence of the situation).

      You are correct. The Luas is too slow. And it is too small. And much of it’s hinterland is low density housing.

      It is a classic example of a public investment that was badly thought out.

      A few years ago I was in Milan, on the metro. I went on street level and the buildings were four stories high. And….there was less traffic on the streets than in Dublin.

      And that is how the equation of urban development works.

      You build upwards, with apartments, gyms, pools, grocery providers, restaurants, car parking, in the one unit. AND…. you have frequent public transit right outside the door. As close as possible.

      It is called an economy of efficiency.

      Everything we discuss building upwards in Ireland, some whiner mentions “Ballymun”.

      Ever look at the skyline of Downtown Vancouver ? It is one of the most desirable locations to live, on the planet. Close by is Stanley Park. And Metros and buses down Georgia Street (Is that correct ? ).

      You give people everything that they want as close together as possible.

      That is how you do urban planning.

      More estates in Portarlingon, or Ardee are NOT the answer. It is good for local authirity councillors and the pub. But the economics are absurd, if the people are not working locally or within 10 miles.

      And I am not just talking about Dublin. The same appplies to Cork or Galway.

      If you want to compete, AND deliver lifestyle to people, you have to operate to scale.

      This is NOT rocket science. It is done in other countries. The same applies here.

      The badly sized village is a disaster.

      • Pie Squared

        Well said Deco!

      • Ever look at the skyline of Downtown Vancouver ? It is one of the most desirable locations to live, on the planet. Close by is Stanley Park. And Metros and buses down Georgia Street (Is that correct ? ).

        Some truth to that. BUT it is the 2nd most expensive place for RE pricing , in the country after Toronto. Third most expensive is Victoria, where the average price now for a SF dwelling is $763,517. It is not the locals pushing up the prices as it is a retirement destination and the prices are affected by all the pensioner IMMIGRANTS with their life time savings and pensions being brought from all over Canada. Plus there is a top dressing of luxury demand from the Chinese.

        “While some are reeling from price increases in the capital region, Vancouver-area buyers are facing an expected price increase of between 22 and 25 per cent this year.

        http://www.timescolonist.com/news/local/greater-victoria-housing-prices-expected-to-keep-rising-through-2017-1.2269353

        “Sotheby’s said luxury homes sales are propelled by such factors as economic optimism, strong employment, Vancouver and Alberta buyers, and increased awareness of Victoria as an investment opportunity from Chinese buyers. -

    • nothisrealname

      @Pie Squared. Most of us living in the north-west or indeed anywhere west of Mullingar or the northern half of the country don’t believe there is no more need for further investment in road infrastructure. Indeed we think our regions are crying out for it. Maybe I’m biased but I think good roads are the making of any country or region.

      • Pie Squared

        Good point! I stand corrected. Yes good road networks vital and in place in the S. N and NW have probably been ignored due to the usual issues, but as they say – the times they are a changing. I still think if 80-90% of jobs are in Dublin, (which they shouldn’t be to begin with, but that’s the reality) then fast train transport is the more urgent need?

  23. sidmac

    Who wears the waistcoats, the gay men or the dogs?

  24. Grzegorz Kolodziej

    I can only do quick comment, because I’m not even able to respond to John Allen and Coldblow from last week (John: I’ll write you an e-mail on the book, but I need time and space to gather my thoughts).

    Although this was a much needed article, I’m unhappy about David’s research for that column, so I feel compelled to comment shortly.

    1. David was kind to put an effort to show us some data in charts (something I wish he would do more often as most people are “visual”), but he stopped at where things get really interesting.

    2. He didn’t come up with the crucial chart – the structure of social welfare expenditure (I wonder why?). I am having in the front of me Department of Social Protection’s own 2012 report, and there is something in it neither you or David would expect: the dole sensu stricto) accounted only for 28.8% of Department’s total expenditure – the rest were:

    2.1 Pensions 30.2% of total expenditure.

    Pensions constituted the biggest chunk (ok – of course they are necessary and should not be reduced – but looking at their huge disparity between the lowest and the highest pensions would be interesting, and perhaps the lowest income pensioners should be getting more and the Indian-style cast of top civil serpents less).

    Part of the reason was because that year Enda sent 60,000 biggest earning serpents on premature pensions.

    2.2 Disability – 16.1%
    2.3 Children – 11.5%
    2.4 Suplementary payments – 5.7%
    2.5 Administration – 3%

    So – the dole: 30.2%, the rest: 69.8%.

    3. Now, this is crucial – in 2012, there were 309,000 people unemployed in Ireland. Guess how many were paid from the Social Welfare Department?
    2.2 million! Also interesting is the fact that while you would think that the closest recent wars were in Donbass and Syria, not in Galway or Kinsale, yet 40% more people in ROI suddenly became permanently disabled between 2006-2014.

    This is as much as I can comment this week I am afraid.
    Quick point on foreign nationals – the figure for Nigerians for 2012 was even higher, something like 60%. Then again Tull McAdoo made a valid point too, and I am glad that there was some discussion on it, more “on the issue” than discussions last week. Btw, what is often not mentioned in Irish discussions is that – I am still talking the 2012 data – out of all EU nationalities, by far the biggest proportion of unemployed in ROI were the English – around 20%, so more than the natives or other EU nationals (lower still). Again, this would have to be analysed more closely – how much of them were the English from NI?

    Also interesting is the fact that (I am now jumping to a different report by CSO) the decline in employment activity for EU foreign nationals between 2006 and 2011 has not resulted in a corresponding increase in their social welfare activity: for those allocated a PPS number in 2006, employment activity dropped from 71,900 in 2009 to 55,700 in 2011, while their social welfare activity rose from 55,800 to 56,200 over the same period.

    I reckon perhaps this (and the English issue) is due to the fact that unlike the refugees, the EU citizens coming to Ireland other than by marriage are by definition required to find jobs: they are not available for social welfare until certain amount of contributions – but this rules does not apply to people from the UK (due to Common Travel Area) or to refugees (due to Michael D Higgins).

    I’d rather that we stick to the actual data and its interpretation when discussing such things.

    And there is a question of rent allowance. Why David would never ever touch this issue, I wonder? Rent allowance is partly responsible for hight rents in this country and millionaire landlords are also getting it. I mean – is he fine with these two facts or does he deny that there is a correlation between high rents and rent allowance? And of course, if David won’t touch it, that mean that no one would touch it except maybe for Dr Gurdgiev – but TV does not seem to like Mr Gurdgiev these days.

    Shit – again I spent more time on recalling these data than I wanted.

    P.S. John Allen – I will reply to you properly in due course. It’s better to reply properly than quickly but superficially.

  25. Grzegorz Kolodziej

    Coldblow – regarding Maria Sklodowska-Curie: I do not know who in their marriage was introvert and who was extravert, and I am not 100% sure if this division can always be applied to analyse couples.

    All I know is that regarding the recent movie about Maria Sklodowska-Curie (my school was named by her), the fil director put all emphasis on emotions.

    Curia-Sklodowska roars across the screen – because her husband dies, or she does not get her the cathedral at the Sorbonne, or she has trouble with her lover.

    Mrs. Gruszka, who plays her, is very convincing and behaves like teenage girls behave in certain situations: they pick something up running out of the room, stifling tears, with a fierce expression on their faces, avoiding affection of older conceited pricks (played by renowned actor Olbrychski), who stink from their mouths; they turn their heads and pretend not to be the object in question.

    And it is all played perfectly by Karolina Gruszka.

    BUT

    This is not a film about the Sklodowska-Curie and her times. This is a film about how one should be looked after the family trauma.

    Marysia, after the death of her husband founds a comforter in the person of Paul Langevin and around this thread the whole story revolves.

    His wife gets hysterical, he behaves like a bastard, followed by a series of quite incredible and imaginative scenes: a duel with the publisher who published the list, which named Maria. And now, he has to duel, but the publisher says he can not deprive France of mind as prominent as Langevin. So he shoots so in the air like my ex-girlfriend when I took her to the shooting range.

    Langevine feels humiliated and fleesg into the bushes. Behind him poorly Mrs. Marysia hides, who happened to be in the woods like a character from Twin-Peaks. Then they snuggle. Such scenes abound.

    Olbrychski does not want to give the Sklodowska-Curie the cathedral and says that she should try her luck in London.

    And as if that was not enough ambassador to Sweden comes to Marysia’s home appear and announces that she got a second Nobel Prize.

    And it is great, but following the publication of compromising letters, the ambassador wants to persuade the Curie-Sklodowska not to go to Stockholm.

    How was it really?

    Seeing the stupid stubbornness of the French, the British decided to use the same publisher who blew the Dreyfus Affair, to rob the poor Maria Sklodowska-Curie and her inventions.

    They orchestrated a press campaign to “help” her make the decision, and at the same time they influenced the Swedish Academy on the Nobel Prize.

    By the way, we learn something important about this whole prize. This is a charity, a handful of loose change, which is handed by cheating suckers taking over the results of someone else’s research for peanuts and creating their technology “for the good of humanity.” – and the City.

    In the film about Marysia you clearly see how it all works, because we can not deny the sacrifice of this brave woman.

    So at a time when academics, publishers and financiers were playing merrily in cabarets, smoked cigars and drank cognac, Mrs. Marysia mixes something without a break in a big cauldron, freezing together with assistants patch the roof.

    Was it not possible to create better conditions for her, somebody can ask? Of course they could, but WHY?

    This would be money loss.

    It’s better to take it from her for free and force her to BUY a gram of HER radium for her native country – Poland, which she had received for 1,000 US dollars collected from the Polish community in the United States – 200,000 US dollars in todays money. And no one asks – how? Why?

    This film does not show it, and no film will ever show it.

    Someone may say that my claims are unfounded, downright silly, because without sacrifices of the researchers there would be no progress. I’m afraid they are not.

    Dedication of scientists, the poor suckers from Central and Eastern Europe, Italy or Ireland in the past, was used by Western companies, have been utilized towards the two world wars and the degradation of land from which these people had left.

    Mrs. Maria, a real woman: emotional, intelligent and unusual personality represented, is shown as hurling and stubborn, functioning in an intriguing world of marginalized work problems of scientists portrayed as having mental capacity to only mix chemicals in the boilers.

    If the film the very good actress playing the Polish scientists shows her tits, in the French attempt to discredit the legend Marie Curie as a serious scientist.

    Einstein also had a Mickey but no one shows him in the Hollywood movie when he unbuttons his zippers and sticks it out of his trousers.

    The names of Polonium she discovered is not mentioned in the film is not at all, and the Maria in the film does not own up to her native country, so that the Carolingian Europe can be confirmed in its God given right to rule the peripheral Europe.

    Degradation so profound that today is not looking here

    • Grzegorz Kolodziej

      cathedra = faculty

      fast typing, I am sure there are many more mistakes – but you are an intelligent reader, Coldblow.

      I said cathedral because in Latin Cathedra also meant “seat”, and so this double meaning also entered Polish in the word “katedra” as a cathedral and faculty

      • coldblow

        I got it first time, Grzeg. I’ll have to read your post a second time but I think I got the gist. The bit about the actress playing Marie showing her tits caught my attention.

        All right, I have just read it again. Yes, I thought so, French film. Those scenes are probably just to establish it as superior art. Flounces, pouts, Paul! Paul! We ‘ave discovered.. what eez it?.. wait, I ‘ave decided… ve vill call eet Radium! Glances exchanged across a room. An elegant carriage draws up. Madame, eet ees ze Swedish Ambassadeur – ‘ee says eet is very eemportant and cannot wait. And ze vinner of zese year’s Best Invention category ees… Remember, Paul, ve are doing zis not for us but for ze ‘Ole of ‘Umanity! Leesten very carefully, I shall say zis only once! Eet is I, Leclerc! (A bit of Allo Allo slipped in there at the end)

  26. Sailing along

    Sunday sail race day.

    We had a very good day on the water. Temp was up to 9 C it was cloudy but no rain and the wind steady at 5-10 knots. I screwed up the start but other than that it was a good sail and a lot of fun.

    Meanwhile back at the ranch the PM’s stayed green over the weekend with the Friday close, green, lit up.
    This AM the PM prices after a surge were taken down again to Red territory BUT the shares show signs of life as are up even if temporarily lifting the spirits indicates we may have bottomed for this round and will be subject to a grinding retake of the higher levels.

    Then there is the Ides of March foretold to dramatically affect the landscape, but where and how???

    My feeling is to expect the worse while hoping for the best. The next thing to look forward to is the 17th, Paddy’s day in the sun. All the while Irish politics are mired in the indecision of a proportional representation system that guarantees nothing will ever get done except handouts to the well connected (the majority of people at this point). There can never be a new broom to sweep clean as it is always the same old, same old in power, and the same old receiving the handouts from a bankrupted state which is not quite yet insolvent.

    In Canada the Liberals were elected on the back of a promise to go to such a system. Thankfully that now they see the benefits of being in a solid majority with 39.5% of the vote, the first past the post system despised while they were in opposition with the Conservatives elected with 39% of the vote, they have reneged on their electoral reform saying “Canadians are not ready for a change”. Thank God, for that, I say.

    The biggest question I have is how long do I have to wait for the PM’s to bare the fruit I wish for me to be able to enjoy. I may be dead sooner and that is a real consideration. perhaps this charade can go another 10-25 years as it is already over 10 years ago I heard the cry that the fiat money central banking system is on its last legs.

    Judging by the derision from some and the indifference of most I suspect the crooked cabal of bankers will continue their Machiavellian ways into the visible future. It is a sad fact that we are all delusional in seeking change for the better when all we have to do is review history to realize that it has been the same way for hundreds and hundreds of years or without being dramatic, thousands of years. Even reading the old testament warns us that the prophets of old were despised when they warned of the results on societal corruption.

    But there is a truth in the expression that “for evil to triumph all it requires for good men to do nothing”. Most people are busy about their daily lives and unaware of the corruption. Most are so much a part of the corrupt entities that they too are corrupted. Corruption is the normal not the exception. That is what we live with. No wonder that it is so hard to get changes for the better.

    I am afraid that nothing much will change until there is a problem for the average person who will then having suffered unnecessarily will be moved enough to demand immediate changes. Then the manipulation of of the thinking process is such that the emotions are corralled by the cartel who set up new boundaries in the guise of beneficial changes but which in fact ensure their, the cartel, success indefinitely.

    At this point one wonders if ones best option for a good life would be to take advantage and join the black hat brigade to live the good life. However something prevents me from doing so and that in the case of many others also deciding the same way, will be the ultimate saving grace of humanity.

    Freedom (success) is never attained it is always being constantly striven for.

    And so we continue!!

    Enjoy the day, smile at your friends and enemies, say hello to your family, Take a walk and admire the local scenery. Relax. The sun will rise tomorrow even as it goes down at night.

    Glad that I live am I;
    That the sky is blue;
    Glad for the country lanes,
    And the fall of dew.

    After the sun, the rain,
    After the rain the sun;
    This is the way of life,
    Till the work be done.

    All that we need to do,
    Be we low or high,
    Is to see that we grow,
    Nearer to God on high. –Lizette W. Reese (1856-1935)

    NB One does not have to be “religious” to agree with the quoted sentiments.

    • michaelcoughlan

      Thats the best post you ever put up.

        • michaelcoughlan

          Hi Tony,

          Just to let you know something; I haven’t a clue, not a bulls notion , why it is honest Keynesians think sound money is not a good idea. I don’t even know where to begin to try and figure it out but I am endeavouring to do so since I accept no one has a monopoly in knowledge.

          Regards,

          Michael.

          • Michael, it is a simple thing. Most are not a searcher for the truth as are you. Most follow the party line and believe what they are told. For 50 years, Michael, I wondered why I was so dumb. Why did I not understand. what was the magic in the financial pages I could not fathom.???

            Then one day not so long ago a stranger stopped to talk to me. he had information I just must know about. The light switched on, Michael, it wasn’t me it was them . The financial writers and the economists with a few exceptions have not a clue what they speak or write about.
            As Bill Murphy says “Price action makes market commentary” That is why it is so confusing as they the commentators change tack daily.
            Do not ponder too deeply Michael. These are the facts , just the facts man, and most can’t handle the truth . (to Mix Joe Friday with Jack Nicholson.
            It is you against the idiot experts of the world, Michael. it is time we gave up on paper qualifications and return to common sense.

            It is the lemming instinct, where the leader goes I will follow. some of the biggest lemmings are economists. I met one on the dock at a marina who sneered publicly at me as in conversation her heard me talk about gold as money.

            I spun on him and asked him by what authority he felt he could deride me a stranger, in public. I asked him what he did for a living. “I am an economist,” he announced.

            Well I immediately told him that now I understood and that I had been sent to him to save the rest of his life. That he had been trained and educated by a university who received grants an bursaries from a foundation who suggest the course material that was studied and that he had learned how to memorize but not to think.
            I was here to unteach him rote by memory and to learn to think.
            He actually laughed and invited me for a beer.We had a good chat,

            The answer to your question Michael is that the economists are so indoctrinated that they cannot change their opinions without loosing self esteem.
            You are lucky enough that you can still think for yourself.

          • Not just my opinion, Michael but many others are tired of the drivel fostered upon us all.

            Rick Caird bobby poon • 8 hours ago
            That is a really interesting idea, bobby. The elite colleges are supposed to have the best of the best students, but their minds are being molded into jello by the entrenched leftist faculty. So, what these schools end up graduating are mush minded adults who can follow the crowd, but really cannot reason or think for themselves. Yet, these are the mandarins who control the government. This is probably why government becomes more and more useless. The other side of the this is business cannot work around mass produced morons. To be successful, a business needs new talent that can question what needs to be done. That is leaders not followers. The elite schools are likely headed toward not remaining elite, but rather failing schools.

            https://spectator.org/the-real-lessons-of-middlebury-college/?utm_source=American+Spectator+Emails&utm_campaign=63ffd42c9b-EMAIL_CAMPAIGN_2017_03_13&utm_medium=email&utm_term=0_797a38d487-63ffd42c9b-104365713

          • Oh dear Tony, those poor people on the dock getting their ears bent by you about gold!

            Do Rosland Capital have you on commission?

            Did they go for the ‘premium collectors coin’ after you had given them the spiel?

            https://www.youtube.com/watch?v=tGFQl0qdRpY

            WHAT’S IN YOUR SAFE?

            PS. Scamming vulnerable pensioners is one of the most odious activities known to man -

            As William Devane says “If you’re not worried – you should be!”

            PPS. Yes universities are full of absolute idiots – I agree with you there.

          • McCawber

            Not just universities Adam, unfortunately.
            However I don’t think it’s the universities that are the problem, it’s some of the raw material they have to work with – human beings I think they’re called lol lol.

          • Michael

            I hope you can open

            The Banking Secret that neither Economists nor Laypeople Know

            It will help understanding of your question about Keynesian economists.

            http://www.oom2.com/t45490-the-banking-secret-that-neither-economists-nor-laypeople-know#102054

            “In any genuine science, empirical data like this would have forced the orthodoxy to rethink its position. But in economics, the profession has sailed on, blithely unaware of how their model of “banks as intermediaries between savers and investors” is seriously wrong, and now blinds them to the remedy for the crisis as it previously blinded them to the possibility of a crisis occurring.”

          • Too bad Adam I used to think you sometimes had something useful to say.
            Your derogatory suggestive tone is unbecoming of someone with your intellect.
            Why don’t you try being less spiteful and rude.

          • You’ll get over my sharp words Tony.

            Scamming vulnerable pensioners is a far more offensive activity than a few pointed barbs.

            As for offending me – impossible. I’d have to care what other people say first if I was to get offended.

            To be clear, I’m not out for fairness for myself, I can handle difficult and unfair challenges in my own life but I’m out for fairness for the weaker members of society who get taken advantage of – including vulnerable pensioners who get scammed by gold-hawking charlatans.

          • michaelcoughlan

            Hi adam,

            You make a good point. If the guy in the video really though gold would rise he would be buying it not selling it.

            Michael.

          • Adam
            Scamming vulnerable pensioners is a far more offensive activity than a few pointed barbs.

            Implicating me with scamming is despicable, insensitive and slanderous.

            Your comment in the context it is phrased is disgusting. It stinks.

            Here is a course for you to take to improve your outlook.

            https://brianmlucey.wordpress.com/2017/03/15/funded-phd-in-financial-economics-of-precious-metals/#more-8626

  27. Clare Leonard

    Casual workers at the bottom end of the food chain today receive the same
    wages they earned 10/15 years ago.
    I have allowed 25% for the difference between the pound and Euro.
    Allowing for inflation their wages are approximately half – in real terms within this time frame.
    As a business woman, I could earn a modest living 10/15 years ago – however – In real terms my income has also dropped dramatically based on a similar turnover.
    I did a rough check on my accounts from 10/15 years ago and
    compared my costs today .
    The outcome of my casual study is most interesting.
    Businesses in Ireland with a monopoly have managed to increase
    their costs by 200 to 300% over the same period.
    The County Councils – re commercial rates/water rates/ discharge licence etc. etc.
    The Gas company.
    ESB.
    The only conclusion one can draw is that the free movement of labour within Europe has benefited the state and semi-state monopolies to increase their prices at the expense of working people. The abundance of available casual workers has acted as a safety value disguising their incompetence and greed.
    The state is the problem not the solution.
    Solve THAT problem and taxes should drop.
    It is unwise and unfair to use the under-employed or unemployed as the scapegoats.

    • McGoo

      Exactly! Social welfare payments have stayed about the same in real terms, but ordinary wages have dropped dramatically in real terms. Therefore, it does not make sense for a welfare recipient to take a low-paying job.

      I estimate that dole plus rent allowance plus medical card is worth about 18000 euro a year. Minimum wage is about 19000 euro a year. QED.

      • The same in Canada effectively

      • michaelcoughlan

        not to mention if you have kids the savings in childcare costs if you mind them your self in Dublin net 1200 plus per month. plus no car costs. Add in all that you need over 40k pa just to break even.

      • Mike Lucey

        18000 versus 19000 euro per year! So for a 35 hours x 48 weeks delivers 60 cents per hour, not to mention travel expenses.

        The folks availing and sticking to the dole understand true economic!

  28. 50 year anniversary.

    I was cogitating on the first week I spent in Canada in Jan 1967. That is correct , it is the 50th anniversary of my emigration to a new land. I had no trade, a high school education and disparate experiences which all added up to no paper qualifications.

    My background included all the things introduced to me as a child and a youth. These by a hardworking enterprising father and a devoted concerned mother.

    Living in a greenbelt area south of London put me into a suburban area of war built and post war (that is commonly called WWll )built subdivisions with easy access to local countryside. My first memory is of the noise of the bombers passing overhead to blitz London and the noise of the first flying bombs, the doodlebugs, that fell to earth ,or not, when their engines ran out of fuel. Sometimes the engine would stop but the bomb glided on before falling. So we were fine while we could hear the engine but quiet was the calm before the you know what. As soon as I heard anything I ran for the under the stairs cupboard or dived behind the sofa against the wall.

    I was raised with horses, went to shows , gymkhanas, and show Jumping , and later to the races.

    Soccer was my first sport and I practiced all the time. I was skipper of the elementary team and the 14 and under team in its time when I was whisked to a foreign land, the county of Devon. Westward Ho!, North Devon, on the Golden Bay, or Bideford and Barnstaple Bay was my home for 6 years, interspersed with 2 years at a private school, in Wellington , Somerset.

    The family had bought a family hotel that specialize in summer holidays accommodation. Consequently I became used to doing everything in the hotel. Waiting tables (not much, only in emergencies) serving behind the cocktail bar, making beds, painting rooms, polishing shoes making accounts, filling a manual spread sheet, talking to guests, hand milking 4 cows, creaming the milk, teaching kids to ride, (we had as many as 20 plus horses at this time) teaching myself to be a farrier and shoeing the horses, and many other things around agriculture and farming. How to use a scythe, and hand hay rake , a pitchfork, a shovel (yes there is such a thing as a skilled labourer). How to break a horse to saddle, make hay on tripods , Scandinavian style.how to tell good hay from bad. I could go on but nothing resulted in any paper qualification. Tractor driving and equipment were introduced to me age 10 onward.

    Getting back to 50 years ago, I had to apply to Canada to be accepted as an immigrant. Canada had a points system to qualify. There was a shortage of tradespeople, I did not qualify. Professionals were in demand. I did not qualify. Then I found a curious thing. There were openings for farmers. All was not lost but again I had nothing on paper.

    My destination was Fort Nelson in the North East of BC. (another story)

    One of my past achievements was to fail the 11+ IQ test. At elementary school I have spent my time reading under the desk any material that interested me. Everything from the weekly Beano comic to wildlife history books, Natural history encyclopedias, stories and novels. I was left alone for 5 years at the back of the class doing little of the mandatory work but somehow passing into the next year. The reason I failed the IQ test was that I had really never seen one before so did not try to answer a thing. I put my name on the top and waited an hour an left with the rest.

    So now I went back to the Atlas, looked in the back for the geographical information about the region around Fort Nelson. I memorized the climate, Hours of sunshine a year, precipitation, number of frost free days, hours of daylight in the summer, the soil type, the native vegetation and the native animals. I then learned the crop yields for wheat, barley and oats, the possibility for truck farming (vegetables etc.) and thus armed went to Canada House in London.

    It was a great meeting. The Canadian civil servant was very impressed with all my knowledge, smiled and announced I would be recommended for acceptance as a landed immigrant in Canada. He even approved an assisted passage loan where the government paid my fare as a loan refundable 6 months after I started to earn money.

    Not discussed was my lack of money. In fact I had spent all I had earned on a car and petrol driving around the country going to boxing shows and training clubs. What I had was the last 50 pounds of a 200 pound line of credit at an English bank. It converted 3:1 to $150 CAD in those days.

    Back in Canada in my first week I found that the Bank of Nova Scotia had silver dollars in exchange for paper dollars. Curios I went to the bank branch nearby and sure enough I traded a 20 dollar bill for 20 silver dollars. I do not know what the silver content was but they felt good in the palm and looked very handsome.I wish I had saved some.

    They spent just the same as a paper dollar but were unusual. Shortly after I was In a local cafe and bought a cup of cafe for the standard 10 cents a cup. For payment I slapped a silver dollar on the table.

    The waitress was awed. “Where did you get that from?”, she cried. So I told her that I had been up in the Yukon looking for gold and had come across this silver, had it assayed and coined. It was a good story and better than telling her I got it from the local bank and I was only 5 days in the country.

    So the point of the story. 50 years ago a cup of coffee was 10 cents. This week I bought a cuppa at two different location and each charged me $2.75. That is 27 and a half TIMES THE PRICE of 50 years ago. My labour wages at the time were habitually $2.50 an hour. 50 years ago. 10 cents a cup for coffee was also the price of coffee when I arrived in Fort Nelson

    For wages to keep pace with the price of coffee the current wage would have to be $68.75 per hour. Needless to say the best rate for unskilled labour today would be pressed to get over $20 an hour.

    http://www.payscale.com/research/CA/State=British_Columbia/Hourly_Rate#by_Job

    It can be seen that using the coffee metric we are living in a standard that is barely 1/3rd as well off as in the golden age 50 years ago. Other calculations tell me that our standard of living is 40-45% of the standard of 1970.

    The basic correlation of these times is that Nixon went off the gold standard in 1971. That set free all the currencies of the world to be increased in volume without restriction. As we have the central bankers plan to issue all money as a debt and to charge interest on the debt we have had an explosion of credit(debt) envelope the world. Is it a coincidence that the proliferation of credit(debt) allowed the consumption of goods not yet earned? This expanded the debt levels exponentially. What was not paid for on purchase, but financed, has to be paid for with future earnings. What is financed before earnings adds a demand for products that would not otherwise occur. The increased demand puts up the prices. Hence wages fall behind the costs of goods. As credit (debt payments) consume more and more of the income there is less demand for the products. To encourage demand again the cost of credit is lowered. Eventually it all comes to a halt as the credit consumes all current income and no goods can be purchased at all. It matters not that prices are reduced, that the cost of credit is reduced, consumption cannot be revived and there is a general implosion in the economy until the excessive debt is destroyed one way or another.

    Welcome to today’s world. We have consumed too much and now suffer the heartburn.

    We need to be rid of credit money. That specifically, the central bank fiat money . It is the root cause of the fall in living standards by issuing money as debt. It is aided and abetted by the commercial banks who expand the money supply also by issuing new money as debt. Thus the huge rise in debt can be place directly at the feet of the bankers. The huge debts are the cause of the demise of the economy. Thus the bankers destroy the economy even as they skim the profits off the top extracting interest. This is why all the assets are concentrated in the top 10th of the top 1% and the bottom 50% have little. The banks cause the wealth gap too. They cause the wage gap while this occurs as those closest to the new money pay themselves obscene bonuses.

    So those that tell me gold will solve nothing, that silver money will never return are suggesting nothing better. Tell me what the solution is if it is not to return to honest specie currency. It is embedded in the US constitution by the founders who foresaw the results of credit fiat just as it has occurred.

    The solution is “back to the future” . Get with the program and restore sanity.

  29. Trump Needs a War Team–Catherine Austin Fitts

    Another big problem Trump is going to have to sort out is human sex trafficking. Fitts says, “The human trafficking, the child trafficking and the pedophilia is a very deep important story and a very bad scandal. Pedophilia for generations is a way you create control files on people, and control files is a way you maintain a political structure that is outside the official law and the official reality. If you are a shadow government, pedophilia is key to creating those control files. It’s a way of managing financial fraud on a very economic basis. It was always out of hand, but now it has gotten wildly out of hand. It was one of the big swing policies between the Trump group and the Clinton group as to what the approach is going to be. If you look at the explosion of arrest around the country, I think that is state and local law enforcement acting to the change in the rule that they clearly see. . . . If you look at how the squabble has gone, it is looking to me that we are getting to the point where he (Trump) may not have a choice. WikiLeaks says that the first round is about 1% of what they have in “Vault 7.” If they dump out another 99 equivalents of what they just dumped out on the CIA, America is going to be in a state of complete shock, which I think will be very healthy. I hope they dump it out. Pedophilia is just the beginning of what’s there to be dumped out.”

    http://usawatchdog.com/trump-needs-a-war-team-catherine-austin-fitts/

  30. Do you really want to be associated with a union of people who do not respect free speech.
    These appointed EU commissioners are antidemocratic, the Eu parliament is advisory only and the laws are written by faceless bureaucrats who have little respect for the taxpayer or people in general.

    https://needtoknow.news/2017/03/eus-anti-free-speech-assault-frances-marine-le-pen/

  31. coldblow

    Some interesting posts. I agree fully with Deco about the absolute, unqualified uselessness of the Irish state. David mentions water charges. But these are to pay for more expensive bureaucracy whose business plan (charging by the gallon) would lead to everyone cutting back and nobody able to afford water in the end.

    I agree with Micawber about subsidizing and encouraging unmarried mothers (now might be a good time to consider reintroducing mother and baby homes and laundries -seriously, we have had the mad utopian experiment, it might help forestall an unthinking backlash).

    Adelaide makes good points too. The unemployed have to go on these schemes now and it is very unfair as they are doing a job like the others but paid peanuts. Crotty was right that the state is the enemy of the people of Ireland. Also immigration, of course. When Michael D, Joan, Eoghan and the rest were emoting in Sept 2015 (Let them in!) my unemployed (but full-time on a scheme) sister in law was visiting. Without thinking, I told her it meant the end of her benefits. That is what will happen. It is a social contract: people will not support indefinitely those who they don’t identify with. A friend of hers doesn’t like the schemes and gets out of them by (from what I gather) behaving at interviews like she is a bit mentally unstable.

    Crotty proposed paying a national dividend to everyone in Ireland from the savings on paring the state right back. People could add to this by working and choose to give (or not to give) to charity.

    Pensioners. Nobody ever mentions that thrift is discouraged. If you don’t bother to save you will get a means tested pension and looked after for free in your old age (because you can’t pay). Bleak House’s Mr Skimpole cannot manage his money, does not care for work, always gets into debt, is highly agreeable and entertaining and is sincerely grateful for the kindness of others in looking after him. If, however, you have saved all your life and exercised self-control you are rewarded with means tested pensions (I think it is euro for euro over 20k savings) and you pay a large share (something like 28% if I remember) of your assets for nursing home care (they get their slice from the sale of your house).

    By the way, animal spirits are extraversion. I blame their introvert partners during the last crash for not keeping them on a tighter lead.

    • Deco

      Thanks Coldblow.

      We are given endless, relentless, unquestioned propaganda and BS concerning the institutional state.

      One of the consequences of the 1916 centenary, is that the statists went into overdrive, with a lots of “vision” talk, and expressed outrage that the state did not do this that and the other.

      The same people also hold the view that the state “needs more resources” (whatever that means).

      No. The state needs LESS resources. The people need to be treated with respect, and an end to the lies and the propaganda.

      We have a value system currently in Ireland that excuses failure, because of “a lack of resources”. This is madness. The state has NO lack of resources. It has a lack of efficiency in the application of those resources.

      The Big Daddy state is an extortion racket, and part of a racket that is leading all members of the EU to ruin.

      If Statism is your thing, the EU is a necessary prop to enablement of statist expansion.

    • McCawber

      It’s 2017, birth control technology is readily available to all citizens.
      Single parenthood is a “lifestyle” choice.
      Why should my taxes be used to facilitate this freebie for others.
      Meanwhile people who have worked all their lives have their pensions taken from them because the state chose not to protect them by introducing proper bankrupcy/insolvency legislation to protect them.

      • Yes , I have observed several “professional ” women who opt for a child while remaining single. These mostly make ends meet being a single parent but others care not and expect government to provide for their rights. Most families however find the economics of making ends meet very tough and decide on small families. It is evident in most of the Advanced countries.
        Population is made up by immigrants who are from alien cultures. suicidal. Western society may last another 100 years and poof; submerged and overrun.

  32. http://investmentresearchdynamics.com/can-valeant-go-to-zero/

    The Valeant saga is emblematic of the entire U.S. political, economic and financial system. The entire system is enveloped by the criminality of the people and entities running it – a criminality cloaked in catastrophically unpayable debt and now blatant fraud. It was a similar environment in this country when Enron imploded and those of us who understood what was happening had hoped that Enron would be the warning signal to everyone that would inspire the badly needed reform. Unfortunately, Greenspan inflated an even bigger fraudulent asset bubble than the one he had previously inflated that had led to Enron. You know the rest of the story from there.

    Now our system is beset with a monetary and debt bubble that has inflated all asset classes beyond any conceivably recognizable “intrinsic” value. The Valeants and Enrons were fair warning and no one listened. The next collapse is going to dwarf the implosion of the two asset bubbles that preceded it. Fortunately, for those who are willing to “see” and accept this inevitable fate, gold and silver (precious metals) is the one asset class that has been fraudulently held down well below their intrinsic value.

    If you are still holding on to some Valeant stock, let go of that insanely irrational “hope,” sell your shares and use the money to buy some gold and silver.—–Dave from Denver.

  33. McCawber

    As an aside but not unrelated to how our taxes are “wasted”.
    Why isn’t the Dail Report on NAMA’s loan book being referred to the Garda fraud squad for investigation.
    I’ve no doubt that the British government would assist in such an investigation.
    A Commission = Bury

    • McCawber

      NI loan book specifically but maybe where there’s smoke there’s an even bigger fire.
      The investigation into the NI loan book might be diversionary.
      Pick something that’s cross jurisdictional and difficult to investigate and don’t mention the rest of the war.

  34. “Civilization can only revive when there shall come into being in a number of individuals a new tone of mind independent of the one prevalent among the crowd and in opposition to it. A new public opinion must be created privately and unobtrusively. The existing one is maintained by the press, by propaganda, by organization, and by financial influences which are at its disposal. The unnatural way of spreading ideas must be opposed by the natural one, which goes from man to man and relies solely on the truth of the thoughts and the hearer’s receptiveness of new truth.” … Albert Schweitzer

  35. Indeed, Hussman goes as far as to say that “this is the most dangerous and overvalued stock market on record — worse than 2007, worse than 2000, even worse than 1929” as reported by Marketwatch.

    For some months now, Hussman of Hussman Funds’ has been warning in his research that investors are ignoring extremely high stock market valuations and are being lulled into a false sense of security by central bank liquidity, massive quantitative easing and zero percent and negative interest rates.

    Hussman begins his latest research note by quoting the late, great Sir John Templeton:

    “Bull markets are born on pessimism, grow on scepticism, mature on optimism, and die on euphoria.”

  36. Financial consultant and market analyst Stewart Dougherty today calls gold and silver price manipulation “the biggest financial crime in history” and credits GATA for proving it with “many years of tireless work.” Dougherty’s commentary is headlined “Gold and Silver Price Manipulation: The Biggest Financial Crime in History” and it’s posted at GoldSeek here:

    http://news.goldseek.com/GoldSeek/1489601367.php

  37. MICHAEL SAVAGE NEWSLETTER: These are the initial battles of a longer war

    image: http://www.michaelsavage.wnd.com/files/2017/03/trump-media.jpg

    trump-mediaWelcome to The Michael Savage Newsletter, your daily report on all things “Savage.”

    In today’s issue: Savage urged his listeners to put aside for a moment the battle over health care and other issues and “look at the Trump presidency from the top,” to get a big-picture perspective on what is happening.

    “Many people are frightened right now that his entire administration is in trouble,” he said.

    “I am not.”

    Savage continued:

    I am not. This is what politics is all about, especially when you have an entrenched bureaucracy and an entrenched socialist, Islamist machine that refuses to go away.

    They’re not going to leave within 60 or 90 days. We didn’t expect them to.

    Wars take a long time. These are the initial battles of a longer war.

    You have to understand that the health care issue, while key to it all in some ways, is not the only battle that we’re facing.

    We’ve already won two battles, in case you don’t know it.

    The military morale is way up. Our national security is way up.

    You have to understand there are priorities to things.

    And as I’ve said to you, and I have to say it again, even if we wind up getting 20 or 30 percent of what Trump promised during the campaign, that’s 120 or 130 more, at least, than we would have had if Hillary Clinton had won.

    … We would have lost our freedom of speech and freedom of the press in this country had Hillary won.

    We have the First Amendment for the next four to eight years.

    Second Amendment, guns — over, not touching them. Hillary would have seized your guns, one way or another.

    So, you have to look at the big picture and don’t expect to get everything that you want.

    You’re not going to do it.

    It doesn’t occur in your life, it doesn’t occur in a political campaign. It doesn’t occur in a political administration.

    We are way, way ahead of where we would have been had she seized power.

    Do you understand that?

    Now the battle has just begun. The illiberal fascist left is on the warpath.

    They are beating people up with sticks and fists on the front lines of this fight.

    The time will come when they are going to face real men very soon. And then you’re going to see something you don’t want to ever see in this country.

    I’m not advocating it. I’m predicting it.

    Read more at http://www.michaelsavage.wnd.com/2017/03/michael-savage-newsletter-these-are-the-initial-battles-of-a-longer-war/#vWygcYWYM4CDUWVZ.99

    This is a world wide war, not regional, not national, but in everyone’s own back yard.

    • Bamboo

      Useless and childish links Tony. Must work harder.

      • Sorry I disagree.
        The use of cyanide in the production of gold is a major problem. a solution as discussed is beneficial to all, if it works which it appears it might.

        The other links above concern information on what is or seems to be developing in Europe. If you have counter information, deliver please. I’ll be happy to peruse it.

        Now you too disparage rather than offer any discussion of refutation.

      • There is also the very real threat of a civil war developing in the US especially if anything happens to Trump. The country is divided. Not a childish issue in my opinion.

        Erdogan threatening Europe with the invasion of millions is a major issue too.

        The fact that the stock markets are at all time highs, by many metrics extremely overvalued, should be a major concern too.
        Not to mention the bond market which is at 600 or 800 year highs.

        Of course none of this concerns you Bamboo. Fair enough, but exactly who is being childish in reaction.

  38. http://www.gopusa.com/?p=21811?omhide=true

    Obamacare to Swampcare

    If it repeals ObamaCare in any meaningful sense (and it doesn’t), it only replaces it with something as bad if not worse. This is exactly the kind of bill you would expect to come from the swamp that so desperately needs to be drained.

    This bill does not drain the swamp. It instead brings the swamp under the protection of the public policy equivalent of the EPA,

    Sen. Rand Paul has prepared legislation that is market-based, incorporates HSAs and catastrophic plans (which are currently illegal), and gets government out of managing 1/6 of the American economy. His repeal-and-replace plan can be implemented in a single day.

    • Pathetic quality of comment tonight Tony.

      No original thought whatsoever.

      Only dead fish go with the flow – in any part of the river or sea.

      • McCawber

        I reckon if I come up with one original thought in a lifetime I’ve done well.
        @Adam you’re original idea for me is bitcoin cos you explained it to me.
        @Tony Brogan it’s the whole gold silver thing cos again you explained.
        Above as in eureka moments because they got my mind outside the box on those items – That’s a very difficult to do for most people.
        I could add quite a few others to the list above.
        I mention Adam and Tony because you are both right – There’s more than one way to skin a cat.
        I’ve hedged my bets anyway.
        One of your approaches may be a hare while the other may be tortoise but they’re both heading in the right direction.

        • McCawber

          For example I note posts relating to death by a 1000 cuts.
          Could Dakota or Arizona create their own bitcoins (call them statecoin) to be used a currency in conjuction with gild and silver

          Would this be desirable even.
          Could the value of statecoin be tied to gold.
          Would the above be even desirable.

          Yours in ignorance.

        • I just don’t understand why anyone would pay tax if it’s going to scammer politicians like there are in Ireland. Doesn’t make logical sense – so don’t do it. Simple.

          And how can a man say he has a ‘leader’? Can’t he lead himself?

          Furthermore how can a man take orders from another man? I can’t. If I did I would only be half a man. As a man you have to lead yourself and your own life and you don’t have to be cruel to do that- but of course not ‘wanting’ to be cruel has it’s own deeper motive too. There is no genuine altruism.

          • McCawber

            Surely as you are your own man you realise that most of the population are sheep and want somebody to lead them.
            Once they have their leader they then get on with the rest of their lives happy in the knowledge that their leader will look after all “that stuff”
            You’re a niche player.
            If everyone got into your niche, it wouldn’t be a niche.
            That’s not what you want.
            You want the right number in your niche to make it work well for you.
            The right number is probably not quantifiable but it’s definitely not everyone.

          • McCawber

            Unless you got in at the bottom of what might be a new ponzi scheme (bitcoin)
            In which case the more the merrier from your point of view.

          • Yeah but WHY do they want that?

            That is the real question.

          • McCawber

            Why do you think Adam.
            Surely you have some ideas on the issue.

      • Poking a stick in my eye again Adam?
        Provocation without cause is your forte.
        “I’m so self reliant I need only myself”.
        Good for you Adam, you need no friends.
        A giant in your own mind.

        • Ok I’ll bite Tony.

          I’m 80 years of age and I go to Rosland Capital and I buy 5 ounces worth of “premium collector’s coins” for $6,150 – minus their fees and commission etc.

          I get the coins home and put them on the sideboard to admire.

          Now what do I do?

          • I have no idea Adam. It is hypothetical and engineered by you to prove a point in your own mind. I have no idea who Rosland capital is.
            I have never advocated numismatic coins while you are fixated on the issue. One pays a premium for numismatics that is seldom recovered, it is a stupid idea to buy or contemplate. It is also a stupid idea to buy paper gold unless you are a day trader as you might well be. I do not know.

            Most of the conversations revolve around getting rid of the fraud in the money system

            Most of the time there is a deathly silence on the issue because most do not understand and are not inclined to try to understand what is happening.
            Few understand the concept of monetary inflation .
            Few understand that our money is produced as a debt. It is produced by the banks from nothing and issued as a loan at interest. It is a fraudulent exercise ignored by regulators
            In other word it is a criminal enterprise aided and abetted by the state as the regulators do not enforce the law. That is, the state is also criminal.

            All you can do, Adam, is drag a red herring across the blog to divert from this major issue.

            The central bankers assisted by the commercial bankers and abetted by the state are robbing your 80 year old pensioner blind with current interest rates at next to nothing and they lie about the true inflation which is a lot closer to 10% and 2%. Your 80 year old pensioner has nothing left to live on as his savings are eroded by inflation and investment gives no return.

            Turn your attention to this abuse and then you might be doing something useful for those of your concern.

          • My attention is fully on it Tony.

            I have minimal to zero interaction with banks, taxmen and social welfare offices – and their like.

            I DO things, I don’t waffle about doing things and then do shit – like most people.

            I wouldn’t trust ‘gold on paper’ no more than you would.

            Anyway, that wasn’t the point – back to my original question:

            So what do I do with my 5 ounces (in coins) that are in my hand now?

          • If you do not know the answer you have not read a thing this last few months.
            Do your own research. It is the best way to learn. You can start by reading my postings and including the attachments.
            In about six months , accounting for some time off and having to reread a few time, you will not need to ask anyone for the answer or why you have them in hand.
            I have already repeated myself more than once so I really do not want to do it again.

            Oh BTW I heard from another that they continue to learn from my postings.

            Happy paddy’s day

      • Bamboo

        Absolutely.

    • Deco

      The problem is that the US Healthcare sector, has managed to gain enormous power within policy making to the point that every healthcare program in the US is a “bailout” of the well entrenched.

      In fact it is the ultimate political football in US politics.

      With both political parties lying to the people, whilst pretending to represent the public good.

    • Deco

      “swampcare” has already been copyrighted – it applies to the bailout of Wall Street firms who were in trouble, as a result of their involvement in CDOs, liar loans, and subprime debacles, whilst under the supervision of Timothy Geithner was in charge of the New York division of the US Federal Reserve.

      It was delivered by Obama.

      And Obama promoted Geithner to US Treasury Secretary in reward for his incompetence.

      Obama then proceeded to double the US Federal Deficit.

  39. Truthist

    I very busy ;
    But, have time now to post educative link for those aspiring to ever be “really” knowledgeable about Macro-Economics ;

    http://www.globalresearch.ca/the-banking-secret-which-makes-the-fatcats-richer-while-destroying-the-real-economy/5579707

  40. Deco

    The topic of Brexit is centre stage, and Nicola Sturgeon’s choice to go for another PR stunt – becomes entirely predictable.

    As if she needs to become the news at every available opportunity.

    I reckon that she will blow up in an supernova of controversy at some point.

    The posturing is simply too magnificent. The borrowing is too great. And her eagerness to build an Irish institutional state in Scotland is burning a hole in the taxpayers pockets.

    Sturgeon is the route to failure for Scotland, just like the SNP’s mirror image here, (FF) have led Ireland to an enthusiastically Brussels-loyal form of penury.

    • Deco

      Actually, far more worrying is the predicament of NI.

      It is now likely that SF in the North, and SF plus FF plus loose assorted Trot idiot outfits like the SP, in the South

      plus the insitutional state complex in the South

      will lead an unbelievable level of stupidity, arrogance, and madness.

      We are in the midst of a mad bull market in statism in the RoI.

      And that might lead eventually to it’s ultimate conclusion, where so many are now leading us, without any public criticism – let alone debate.

      A 32 County Republican Socialist Centralist Statist, EU obedient insolvent hellhole.

      Whatever will the expensive talking heads on Ireland’s weekend radio make of it ? In all likelihood, they will bullsh1t their way through it, with the usual combination of the unrealistic, the disconnected, the absurd and the hypocritical.

      When state propaganda organs like RTE are edging you towards the abyss, then you know that the Irish establishment are clueless.

      • michaelcoughlan

        “A 32 County Republican Socialist Centralist Statist, EU obedient insolvent hellhole”

        Jesus! Some description there. Scared the life out of me. Just like Cuba.

        • Deco

          If one takes an objective look at the composition if Dublin City Council, there is a core set of illusions that are indulged by some very parasitic elements, who are plain bonkers.

          Unfortunately, this urge to create a “32 County Republican Socialist Centralist Statist, EU obedient insolvent hellhole” is a lot closer than Cuba.

          I am actually gobsmacked at some of the political positions taken by the most politically active element of Ireland’s younger adults. They seem to think that the fall of the USSR never occurred, or else when reminded of it, they give the response “but that is not really socialism”. In effect, they have adopted various elements of Trotskyism, which they have picked up in Third Level.

          Now, let us be honest here. Trotsky was a nut. Trotskty was so ridiculous that he sent the Bosheviks running to Stalin (who was a paranoid to the point of it being a mania).

          How exactly these idiots advocate somebody who started murdering the workers because the workers did not agree with him concerning the composition of a workers republic, is baffling. Especially, when their entire advocacy is based on the sales pitch “we are doing it for the workers”.

          These people want a revolution. They have an ambition to wreck everything, because it does not agree with their “ideal situation”.

          It is the sort of scenario that is ideal for any set of opportunists.

          They wish to have a centralized state. They will obey the EU, because they are fully sold on it. The want socialism to solve every problem. And they are statists. The will of the state is superior to the freedom of any dissenting individual.

          Civilization in Ireland, is under threat from this Anti-Civilization, which is gaining power, and is aiming for a

          “A 32 County Republican Socialist Centralist Statist, EU obedient insolvent hellhole”.

          And I do not see any thing of competence that is capable of arresting this.

          • michaelcoughlan

            Hi Deco,

            Nobody on the board has come close to your posts of late. If you put this in a book O will send you 50 euros for an advance copy.

            There is NO POINT even trying to understand the far left. The are crazy beyond description. Third level isn’t just the place for brainwashing left ideas. Suds for example has been given a job lecturing in the London school of economics!

            “These people want a revolution. They have an ambition to wreck everything, because it does not agree with their “ideal situation””

            It’s not just the far left so do the far right. Society isn’t a pyramid it is a U. The people known as the middle class are the bottom part and the two uprights are the people in power on one side the the never will have nothings in the other.

            It is in the interest of these two categories to continue to destroy the people forming the middle.

            Regards,

            Michael.

          • michaelcoughlan

            “These people want a revolution. They have an ambition to wreck everything, because it does not agree with their “ideal situation””

            Like I have been saying all along;

            The more you fuck the thing up, whether banker, statist, stalinist, trumpist, etc.

            THE HIGHER YOU GET PROMOTED!

          • Deco

            Michale thanks for the supportive words.

            I was informed recently by one of these people that Ireland has been a “right wing dictatorship” since 1922.

            Really ?

            It looks to me like the Republic of SIPTU (previously called the ITGWU) for much of it’s existence, with underperformance, and a mandate from the union fat cats that Irish comapnies would not be allowed accumulate the level of capital that could modernise the economy.

            The eventual result of that was that state policy accomodated this, by trying to get foreign capital to make up the difference for the lost development.

            And of course, that was blamed on just about everybody except the aforementioned careerists on the institutional left.

            In the 1970s, people recounted how the minister responsible for communications, was too busy interfering with the primary curriculum, to notice the “workers” looking at a Soviet style queue for a telephone.

            With respect to the “value added” from various state quangoes, has anything really changed ?

            This is exactly the sort of gombeenism that seeks to absolve itself of any responsibility for it’s mendiocrity, and continually rotates out “old chestnuts” for the blame.

            Our collective inability to see what is going on will lead us once again into an insolvent abyss.

          • Deco

            And yes, Michael, it seems that no episode of incompetence is an impediment to advancement.

            FG will have a leadership contest, in which all the contenders are underachieving chancers, whose core competence is posturing.

            The media coverage is completely supportive of the said underachievers. It is like as if the media demands mediocrity.

  41. Deco

    Tony Brogan,

    In order to have a lemming like madness, a dishonest media are required.

    I present to you Ireland’s state propaganda organ – RTE (also called Pravda/RTE).

    They deliver acqueiscence (not sure about the spelling) from the people, by pressing the required emotive buttons, and by misrepresenting lies as the truth.

    Nobody does it better. That is the number one failure inducer in Irish life – the state propaganda channel.

    • McCawber

      Depressing, if accurate, few posts, Deco.

    • Yes Deco, I entirely agree. It has oft been stated that the foundation of a free people is free speech, not the right to bare arms. The back bone of free speech is an open unfettered press who can investigate the truth and publish it.
      The depressing truth is also that the MSM has been acquired by the fascist interests that use the press as a means of propaganda.
      There is little left of a Free Press anymore. That broadly speaking applies to the radio and TV outlets too.

      Our saving grace may be the advent of the anarchistic WWW that is not as controllable. Trolling through the morass of information now available one finds, one hopes, beams of truth. Redirecting those beams of truth to others, resulting in a quickly spread broadcast to be evaluated by others.

      Hence, it results in receiving many articles to peruse that enhance, or disagree with ones point of view. Many do not have the time, and many more others, the inclination to read them as it disturbs the thinking process presented by what is now known as the False News and is upsetting. Thus it is denied and derided.

      In a similar vein The Canadian Broadcasting Corporation, the CBC, is referred to by many as the Communist Broadcasting Corporation.

      • As there is no longer a free press, government and others are not held to account. There is a notable silence on many infractions . On the other hand there is a clamour of dismay, and discord directed at any who try to right the ship.

        Because there is no free press there is no scrutiny of the lack of government enforcement of regulation. Lack of regulation enforcement has allowed free markets to be similarly destroyed.
        As Chris Powell of http://www.gata.org proclaimed a few years back,”there is no such thing as a free market anymore”.

        This lack of free market results in a collapsing economy. All the economic messages are as muted and distorted as the “Press” articles resulting in huge malinvestment and imbalances in the economy. huge wage gaps, huge wealth gaps.

        The corporate takeover of the Press and the economy is accomplished by having obtained the right to produce their own money at the drop of a hat. The connivance of the political class with the “business class” has resulted in the banking system being an instrument slavery rather than of service.

        Huge amounts of money have been created to afford the takeover of all the mentioned institutions. The creative process is similar to the recent posting by truthist of the banking system. The central bankers providing unlimited reserves to the commercial banks who then use “fractional reserve” practices to finance the takeover with unlimited amounts of fictitious money.

        We need our freedoms returned. We MUST demand freedoms returned that have been stolen from us.
        Free the Press, return honest commentary.
        Free the Markets Return honest dealings.
        Free the money system. Return honest money.

        The above require a return to a moral posture of the people.
        We have descended to Fascism.

        “You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.”

        ? Andrew Jackson

    • Bamboo

      Deco, I suggest not watching if you don’t like the crap coming from RTÉ. I do agree – It is nothing else but ads. At this stage it is hard to see the difference between advertisements and journalism. If There is nothing you like about Ireland I suggest leaving the country and find somewhere else you like. I am saying this for your own good. You’re getting too much praise for your negative prose which seems to encourage you to be even more negative – almost like an addiction to negative thinking.
      Adam Byrne did the right thing – just leave the country. See how happy he is with life. Not a negative thing to say about Ireland. I did the same. I left and it has done wonders.
      Best of luck.

      • michaelcoughlan

        This is an excellent post. I am very guilty probably the worst offender for negative prose. I must change and will endeavour to so so based on this excellent observation.

        I suppose deep down I am so hurt that a country with so much potential such as Ireland has such endemic recurring trouble.

        Just curious;

        Where did you go? When did you leave?

        Michael.

        • Bamboo

          Michael, I am so hurt as well and also angry at some stage. Ireland with so much talent and potential. But all these feelings doesn’t help me and my wife/family at all.
          Wouldn’t like to reveal too much for privacy sake, but if you’d like I mail you personally.

          Best regards,

          • michaelcoughlan

            try this;

            onceonlyrightnow@gmail.com

            Michael.

          • Bamboo

            Just sent you the info which must have come into your junk mail. Header: greetings

          • Deco

            Bamboo – for me the greatest crime is the level of distortion and dishonesty in the official public discussion about public issues.

          • coldblow

            Deco

            ‘for me the greatest crime is the level of distortion and dishonesty in the official public discourse about public issues’

            It is at the very top of my own list of grievances too. It isn’t just here of course but everywhere in the ‘free world’. The indignant reaction to Trump’s election is the best example of the dishonesty – so far.

            In France they have an online television channel, the right-wing TV Libertés, whose weekly IMedia programme examines media and official distortions (there is no real distinction between state and media). I have learnt a new French word, ‘bobard’ (fibs).

            In Spain, according to historian Pia Moa (who can’t be translated into English) the real opposition is confined to a small number of right-wing commentators, largely associated (as far as I can make out) to the Intereconomia TV channel.

            In Ireland there is barely any opposition. There might be one (and a small minority opposition at that) on single issues but nothing more organized.

            This is such an extraordinary situation that one has to look for reasons. I think it is mainly a psychological thing and that there is little point in seeking a rational explanation for irrational behaviour.

      • Deco

        Bamboo, I don’t watch RTE. And I know more without than with it. It is designed to mislead personal curiosity in a meaningless direction.

        • Bamboo

          I only watch RTÉ for the six nations. For so many years it had the worst possible reception. It was easier to receive foreign TV than RTÉ. So I think for the last ten years or so I haven’t watch it. Then when online RTÉ arrived the video and streaming quality was so bad that I watch foreign online streaming news instead. So that is the technical side of it.
          When looking for information, then ANY national tv is the last place to find information. The only correct up to date news you can find is today’s date and the current time. That we must accept as the correct information.
          I assume that all posters in this forum have come to an age that we should accept that life is full of scams, trickeries and stunts by all financial institutions/religious groups, media outlets, state governments, local governments, quangos and con artists. (In that order).
          Being so angry and frustrated about it doesn’t help you at all.

        • McCawber

          Censorship.
          RTE sports website provides for punter comment.
          RTE news website doesn’t provide for punter comment.

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