September 24, 2017

A real Republic of Opportunity? We'd have to tax land to the hilt

Posted in Irish Independent · 165 comments ·

The budget, only a few weeks away, is the main instrument used by a government to signal what type of economic policy it favours. Using the tax system, the cabinet indicates where it would like the country to go and what sort of society it is trying to establish. The taxes that it decides to levy should reveal a government’s true colours and, if it isn’t too much to expect, its vision.


This Government’s motto is “the Republic of Opportunity”.


Supposedly this is our own version of the American Dream. According to this slogan, Ireland is a country where if you get up early in the morning and go out to work, you will be rewarded.


The promise is not that we will all be equal – that’s socialism – but it is a capitalist undertaking whereby those who try will be rewarded. Working people should feel assured that the State is on their side; the more you work, the more you will receive in return.


In contrast, there are those who don’t work for a living but are fortunate enough to depend on inherited wealth for their income or who have large portfolios of assets such as land and stocks, which pay a rent or a dividend. These people should not be indulged at the expense of workers. They are the drones as opposed to the workers.


Given that most people in Ireland are not sitting on land that generates income or do not have a large portfolio of assets, the budget’s biases should be reasonably straightforward.


Most people depend on wages for their income so, as a result, the Republic of Opportunity should be a Republic that taxes wages less than assets. This bias would help create a level playing field where equality of opportunity can flourish.


Of course, a level playing field for opportunity also implies taking meaningful steps towards reducing wealth inequality in the country.


Wealth inequality is very real in our country. The latest figures from the Central Bank reveal that the top 5pc in this country own close to half the entire wealth of the country. Most of this wealth is held in property and land.


Armed with these observations, let’s look at the budgetary figures and see whether the Republic of Opportunity is just a slogan or something real.


How do we tax income and wealth in this country of ours?


Last year, the Government raised €47,664m in total taxes. Of this, a meagre 1pc, or €463m, was raised in property tax.


Therefore, the assets that are most useless – land and property that drive inequality in this country – are taxed least. Are you still hearing the Republic of Opportunity in your ears?


In contrast, the State raised €19,168m in income tax. The Government takes 40 times more tax from wages than it does from wealth. Therefore, despite all the talk, taxes on work and effort dominate taxes on inherited wealth. I say this because most land-based wealth is inherited in Ireland.


Quite apart from the small issue of wealth inequality, the other reason that taxing land is a good idea is that land is useless. Land generates no innovation, no creativity, no enhanced productivity. It is a feudal, pre-industrial-age asset, so taxing it would not hinder the economy in any way. It would simply encourage those who hold land to make it more productive. This means selling it for more productive activity like making it available for houses, rather than hoarding it.


This would drive down the cost of housing and this fall in the cost of housing would also put money back in the pocket of ordinary working people. Now that would be an opportunity.


But here in the Republic of Opportunity, we are taxing hard work over sloth and in so doing driving up the cost of accommodation when we already have a housing crisis. How bizarre is that? Is this a way of levelling the playing field?


This is feudalism. Real capitalists tax useless assets and make work as attractive as possible. A medieval feudal system rewarded land because that was what the squire owned and he in turn raised a tithe from the peasants to pay for his knights. Have we progressed much?


So, what else makes up our tax take in the Republic of Opportunity?


We raise just over €12bn in VAT. VAT is a 23pc tax, levied on most items, which we all pay for. It is levied on everything from furniture, fridges, car parts, detergent, office equipment, bottled water, washing machines… and I could go on but you get the point. It is 23pc on almost everything, bar children’s clothes and food.


Because VAT is levied on almost everything we buy, VAT is regressive. This means whether you are rich or poor, you pay the same rate. This means that countries that lean heavily on VAT as a way of raising revenue, penalise the lower paid and people on average wages and, by extension, we give a subsidy to those who own assets.


The other major tax we raise is excise duty. This is basically fags, booze and petrol and a few other things.


Ireland generates a whopping €5.7bn from this source. This is well over 10 times what we raise from property. Yet again this is a regressive tax as wealthy boozers pay the same as poor boozers. And, of course, as the poor smoke more than the well-off, it’s a hyper regressive tax.


So, taken together, the tax system is telling us something. If you are wealthy and are sitting on lots of assets, particularly land – which is the main form of wealth in this country – the State will barely touch you. If on the other hand, you are working hard and moving up the career ladder and aim to be paid above the average wage, the State will clobber you.


Now think about the Republic of Opportunity. This slogan purports to reward hard work and punish unproductive assets. But how do we square that with a tax system that does precisely the opposite?


Indeed, by overburdening indirect taxes, the State drives up the cost of living here directly and thereby leaves less income in the pocket of the already heavily taxed average worker who is supposed to be seeking opportunity.


Until this country taxes land to the hilt and reduces dramatically taxes on income, it will not be a Republic of Opportunity but an outpost of feudalism.


Feudalism is feudalism; capitalism is capitalism. What sort of system do we want?


You have a hard look at the numbers and decide.



    • woodsey

      Why dosen’t ALL land belong to the people? The bit that we call ‘Ireland’ appears, in the main, to belong to private individuals. Why bother taxing it? Take it over and pay those whom we’ve allowed to own it its average market value (based on international norms, not the crazy local values!) By the time we’ve done that, we’ll be in a position to decide what it is we want to do with Ireland.

      • Truthist

        Automatically give every Citizen a nominal area of Minimum – Maximum Length x Minimum – Maximum Width as their PRIVATE PROPERTY entitlement FOR FREE when they leave their homestead rearing*

        *Homestead rearing incl.s
        Family home
        Foster Home
        Child Institution / Child Prison

        And, that area unbound by height when unobstructed above.
        Also, that area transportable into the shell of Condominium Development.


  1. Deco

    My response – What a load of utter nonsense !!!!

    The problem is NOT lack of tax. The problem is too much institutional incompetence, spending and failure.

    The last thing that we need is to tax anything “to the hilt”. The one thing that the institutional state seeks is “more resources”.

    In fact, “more resources” is the mantra from the propaganda quango that has it’s own tax, to maintain the millionaires that it feeds.

    The fact is that the results for this exhortitant system, is insulting to the people.

    And of course, in such a circumstances, those who are on the payroll of the insitutional state, there is a threat. The threat is that substantial numbers of people might turn against the racket that is sucking them dry.

    So, yes there is a powerful constituency who will not merely agree with such a proposal – they absolutely need it. How else will the massive gargantuan institutional state complex continue to provide for Noreen the former Garda boss, Bertie the former Taoiseach, and all the other wasters living on mega pensions. [ To say nothing of the consequences of their failure].

    We, the people are paying for an expensive, underperforming wasteful institutional state.

    The article is exactly the sort of “output” that we should expect in such circumstances, when it is incapable of any form of accountablity, to the people.

    “more resources”.

    Republic of Ineptitude. And the current FG front bench constitute the high command of that ineptitude.

    The Noreen Factor. The Rody Molloy Factor. The Des Geraghty Factor. The Bertie Factor. The Denis O’Brien Factor.

    Another parallel tax system, to those that already exist is complete madness.

    We have a problem with the institutional state.

  2. Deco

    “Never mind the Bonocks” by the Tax Pistols.

    One of the most amazing aspects is the manner in which certain, well connected, weatlthy hypocrites “put on the green jersey” and then are given media adulation.

    In fact it amazes me how the media believes it has an important role in creating “reverence” for the tax exiles.

    Others that get this reverence include the owners of Independent News Media.

    Now, I want to know will a wealth tax extend to the Bonocks, and his mates.

    The problem is that these people can move their wealth, just live they move their tax residency.

    And the rest of the population are stuck in their semi-d, without being able to go Dutch, or go Maltese, or whatever.

    Oddly enough, high VAT has resulted in several sectors lobbying to get opt outs. One of those sectors happens to be a media oligopoly owned by tax non doms. Which is kind of ridiculous, to say the least.

    In fact, it almost seems to be a key enabler in Irish media circles, to not be committed to the paying taxes like the rest of the patronized public.

    And…then when there is a problem with media oligopolies not being able to make money…despite have overwhelming market clout… you go…..a debt write down…..from banks that have been bailed out by the tax payer….who continue to buy advertising from the same media outfits.

    And there you have it….the consensus on Irish public commentary…..they will give out about the bankers….and praise the policies that throw them money anyway.

    “more resources” seems to be the refrain of all those advocating belief system that is corporate-statism.

  3. Mike Lucey

    “Now think about the Republic of Opportunity. This slogan purports to reward hard work and punish unproductive assets … ”

    No, it doesn’t! If the slogan read, the Republic of Opportunity for All, it might ;-)

    • Deco

      It is a republic in the same way as Missouri is a republic – one that takes orders from a distant power centre, which happenes to be under seige from lobbyists.

  4. Deco

    The real factor in the economy that subsidizes asset prices is ECB monetary policy.

    Taxation is regressive against asset prices. This is obvious. If there is less money in personal bank accounts, there is less to buy real estate. And that is the purpose of Ireland’s current taxation policy. To grab as much as possible. And that grab is regressive.

    It is so elementary, I am feeling forced to a point of pain, at having to state it.

    On the other hand, ECB monetary policy is pro-ponzi-schemist.

    But….again there is no discussion about this, because the ECB is a bit is a sacred cow.

    Another factor that is driving up asset prices, is local authority planning policy. It is biased towards ensuring a continual undersupply, in comparison to demand. In fact it is designed to distort the market.

    And is effective in that regard. It IS distorting the market, in Dublin. But in doing so, it gives the local authrities, and the political machines, that parasitically live off the populace, an enormous power over individuals. Power that can in turn be used to get votes from the populace. This is the real impact of Ireland’s current experiment with statism.

    So, what we have is a policy that equates to having the handbrake on, and trying to start the car moving, in fifth gear. The consequence is inevitable. It goes nowhere.

    Currently it is bonkers. Another taxation, with the same local authorities, playing with the proceeds, would make it even worse.

  5. Deco

    Of course, there will be an exemption for firms in the IFSC, whilst somebody living on a hill in Donegal, will be jailed for months, for not contributing to yet another levy, so that the institutional state can waste more money, looking after Noreen, the state propaganda organ, the well connected, and all of that.

    This proposal is NOT the route to equality. And it is NOT the route to opportunity.

    It is the route to yet more statist mania, and expansion.

    The institutional state needs to be scaled back. It’s commitments need to be decreased dramatically. And laws will have to be introduced to enable it to operate in a reaonable manner, without largesse, or making excessive demands.

  6. Deco

    The institutional state has been at war with the people, since the Treaty of Massatricht mandated the institutional state to go back into garrison mode.

    We had an imperial mode before. And it left us broke. And that was not as pervasive as the current hard sell.

    And there was no media selling that imperial mode, every day, on a persistent basis, in the 1800s.

    Another tax ?

    No. How about less taxes ? How about more empowerment for the people, and less control from the institutional state, and it’s largesse fed advocates ?

  7. Deco

    Ireland generates a whopping €5.7bn from this source. This is well over 10 times what we raise from property. Yet again this is a regressive tax as wealthy boozers pay the same as poor boozers. And, of course, as the poor smoke more than the well-off, it’s a hyper regressive tax.

    Smoking is a choice. And so is boozing.

    If one opts out, one is not taxed, via these taxes.

    Of course, that mindset is dangerous to the dominant brewer on the island.

    So let’s not increase taxes that eat into the revenue of the dominant brewer on the island.

  8. CorkPlasticPaddy

    Sorry Deco, but I have to agree with most of what David states. Tax assets to the hilt and then drop the rates of others such as VAT to 10%, DIRT to 20%. After Jane and Joe public have paid Income Tax on their wages and salaries they’re fleeced once more by regressive rates of Indirect taxation.

    Ireland is definitely NOT a low tax country and anyone who suggests otherwise is away with the fairies.

    I do agree with you on one point though, Deco and that is that we have complete and utter clowns running the country. That includes civil servants as well as politicians!!

    Might I remind you of one of my earlier comments about the Irish electorate voting for those same clowns and eejits over and over again??? I rest my case!!

    • Deco

      Paddy, you do not have apologise for not agreeing with me. Your opinion is your entitlement. That applies to us all.

      The institutional state already taxes assets. It taxes the income from them.

      Of course, some incomes are taxed differently to others. And that is a result of deliberate policy decisions. That will not change. In fact there will be a flurry of lobbying, and demands from such a policy. And the result will be an enromously complex taxation policy.

      Which is actually bad for the economy. As it results in distortions. Particularly in an economy where the Competition Authority has a tendency to investigate small matters, and leave the brewing oligopoly to operate as it pleases.

      Actually, in my mind the proposal makes no economic sense. It promises us something at the expense of others. But that promise has been repeatedly proven to be a lie, in the past.

    • Deco


      Concerning what gets elected – the media would not want it any other way.

    • I’d have to go with David and CorkPlasticPaddy on this one too despite the fact that I know a lot of the extra taxes would be wasted – everyone on here knows my opinion of the Irish establishment and the Irish electorate that keeps putting them back in power.

      At least the land might be put to more productive use (in theory, who knows what would happen in practice!). Use it or lose it (or pay a lot of tax on it) type scenario.

      However, like most progressive ideas, I can’t see this happening in Ireland, too many vested interests would be against it. I’d love to be proved wrong.

  9. goldbug








    => AS EAMONN SAID ->














    • Truthist

      Yeah, Goldbug, ….

      But, the Globalist Statists / Communists Mr. & Mrs. Bernie — “EVICTING” LANDLORDS — Sanders [ Hypocrites ! ] want it that way for Irish Nation.

      Abortion too !

      Let’s be brutally honest with ourselves ;

      We as a nation have facilitated many an abortion ;
      To England.

      And, now with the lovely Ivana Bacik agenda, even much more will be committed here.

      So, that makes for a nation of a hell of a load of Killers.

      YEE, AIN’T SEEN NUTTIN YET, AS FOR HOW LOW DOWN MEAN & DIRTY IT’S GONNA GET ABOUT “HOMELESSNESS”, & IT’S LOWER DECLENSION “HOMELESSNESS + ROOFLESSNESS” [ Of which I am classic case ; CORRUPTION BY Civil SERPENTS, Professional Class, Landlords [ Not all that I had ; Some actually very nice ], Quangos, My own Family inter alia ]

  10. Deco

    The real result of the policy advocated, will be to tax assets owned by Irish people and presumably give exemptions to multinationals, and the IFSC.

    On top of the taxes that already exist.

    With the proceeds going to those that garrison the territory and it’s inhabitants for the nEU empire, amongst others.

    Basically, full Stockholm syndrome.

    Real Estate assets are taxed on their income. And the income that was used to pay for them, was taxed heavily too. And that tax is much higher than what Apple, Microsoft, et al pay.

    Those that do not generate an income do not generate any tax. And those are bad investments – which is a problem for the asset holder. Something that is missed in the entire length of the article.

    This is basic economic theory. And it is ignored.

    This introduces another tax on an already taxed process.

    The proposal is actually nonsensical. And it is entirely contrary to it’s objectives.

    It is sold hard, because it needs such a hard sell. It is nonsense. The simplistic assumptions that abound in the entire peice are jwdropping.

    And I do not hesitate to say that. It really does need to be said.

    FG’s slogan is a farce, for entirely different reasons. We lost the Republic when we were bribed to vote for Maastricht. And we were broke at the time, as a result of SF’s war in Northern Ireland scaring away international investors. Nobody international investor wanted to be another Dr. Herema. It seems that nobody will dare say this.

    Essentially, the Marxist headbangers in Provisional SF, with their terror campaign, were responsible for the retardation of the 1970s and the 1980s. But their estranged twin, Official SF, would not dare say it, as they were also implicated – and they had completed an effective infiltration of many media organs on the road to corporatocracy.

    And they are still retarding NI.

    That damage was all papered over, for fear of offending the hard men, superficial green jersey wearers at the more absurd wing of Irish politics.

  11. michaelcoughlan

    Hi David,

    I am writing this article cognisant of the wrap you gave me (rightly so in retrospect) across the knuckles for being too aggressive and insulting so I had to catch myself from shooting my mouth off.

    So; politely, there is a massive faux pas in here. When you say land you didnt’ differentiate between farm land and development land. Land isn’t useless or useful. The fuckers controlling it are. You must tax hedge funds off the the fucking planet say 80% CGT for hoarded development land in a use it or lose it situation. Farm land generates massive amounts of beef, lamb, pork, chicken, grain, vegetables, timber products, etc.


    • I’m sure he’s not talking about farm land Michael.

    • Deco

      NAMA sold the land to the Hedge Funds.

      NAMA believe that they had no choice. Simply put, the state was borrowing money at such a pace (and avoiding any retrenchment) that NAMA getting money in looked like a good option, at the time.

      In retrospect, it does not look like a good choice.

      The state has a lot of real estate in the Greater Dublin area, as things stand. And also it has the option of moving some state bodies, or state funded bodies out of Dublin. Maybe UCD might be better off in Waterford ? And there is the fact that Dublin is vertically challenged.

      There are options to circumvent the hedge funds. The local authorities are behaving as if there are no options.

    • Deco

      Michael, I assume that he means real estate.

      In contrast, there are those who don’t work for a living but are fortunate enough to depend on inherited wealth for their income or who have large portfolios of assets such as land and stocks, which pay a rent or a dividend.

      After that there was no mention of tax on stock shareholdings. I presume that the IFSC would not like if there were.

      And beside it is very easy to de-list from the ISE, move to London, or to pick a random example like Amsterdam, or Budapest.

      That means housing, agricultural land, commnercial property including factories/garages/shops. [ Some of whom already pay local authority rates]. None of these things are an idle asset.

      And as far as I know there are no large REITs that hold apartment complexes (actually there are few apartment complexes). Maybe Kennedy Wilson. And they are well connected. Maybe the holding company of Guinness in Kildare. And a few stud farms (which should be put on income tax, instead).

      In Ireland, tax always falls on that that cannot be moved out. that is the way it is. That is the way that the REvenue operate. Ireland has squandered an enormous volume of financial capital in the last two decades, on everything from subsidiaries for CRH, to apartments in Sunny Beach, to shares in Eircom.

      The idea of gradually building up capital, has been ridiculed, by a set of contructed social mores that advocate consumption on the basis that “it has to be done”.

      Therefore we end up selling ourselves cheap for capital influx, to sustain our debts.

  12. Truthist

    If I were a smart newspaper proprietor, I would place :

    on 1st day of issue ;
    DMW’s Article side-by-side-with Deco’s “Response Article”*

    on 2nd day of issue ;
    DMW’s Article side-by-side-with Grezegorz’s “Response Article”*

    on 3rd day of issue ;
    DMW’s Article side-by-side-with Tony Brogan’s “Response Article”* ;
    With hope that Tonys argument about DMW’s Article would mainly be in context of “Sound Money” / “actual Gold, & Silver too”

    on 4th day of issue ;
    DMW’s Article side-by-side-with Sideshow Bob’s “Response Article”*
    Sideshow Bob has specialist knowledge of architecture + laws ;
    And, his heart is very well intentioned.

    on 5th day of issue ;
    DMW’s Article side-by-side-with Truthist’s “Response Article”*

    Response Article as each respective Poster would compose

    And, no disrespect is intended to any other poster here ;
    But, I believe that such a scheme warrants re-coursing the most prodigious / prolific.

  13. redriversix

    Evening all.

    Nice article David

    Makes sense, I understand you not outlining the difference between land & agri land as it would be taken as a given in reading the article.

    But it doesn’t matter as Government has no interest in Governing .i.e being progressive , trying new ideas, having a plan for us taxpayers & electorate.

    They have no plans for the very young or the elderly .

    You see nothing matters to these people and , your wrong … they do NOT care for the homeless , sick , poor, working poor .

    Care would imply emotion,,, emotion has no place in their work .

    It’s all sound bites & spin. PR & committees, Action plans & reviews.

    They have figured out since the late 80s that people are generally stupid & obedient . Fearful & indebted.

    Not just here , but across the world.

    Perhaps if we go back to the 50s & study every decade , same problems continually arise, over & over again.

    Why ?

    No innovation, no forward planning and ultimately no responsibility .

    But their day will end & end it will.

    As for me ? Just trying to take care of family . Don’t get involved in helping out anymore as most people chose to stumble blindly over cliffs following false promises and shiny trinkets.

    Best of luck with the new show on TV3. Hope it goes well. I did think of emailing you …. but then I thought their wasn’t much point.

    Enjoyed the article

    Kindest regards to all


  14. Carl Klang – Hang Em High

    Economists should be taxed out of existence. They are non productive and a danger to society. Show me one unit of productive use emanating from the mouth or pen of an economist.

    I never have read such a pile of rubbish as postulated in this article. Propagating class consciousness and discrimination does not lead to equal opportunity. Government was never the solution to anything.

    Reduce taxes all round, reduce regulation and statute law. Rely on common law and free the people to act in their own self interest. Remove entitlement as it is the biggest obstacle to opportunity. It is feudalism, total reliance on a superior authority.

    Equal opportunity is freedom of all to participate. Equal opportunity does not guarantee or imply equal results. Other governments have tried redistribution of land, have made the results equal for all and the result was hundreds of millions dead, Universal poverty and autocratic government and enslavement of the people.

    That is your proposal David Mcwilliams. Either a totally stupid or totally evil, but completely totalitarian. Now you sound like a globalist central banker. Of course that is because you are trained to be one!!

    • Deco

      Of course, the proposal is in the direction of totalitarianism.

      It is also bad economics.

      The term “unproductive asset” is itself indicative of economic illiteracy.

      If something is unproductive, it becomes a liability, not an asset. And the way the market operates, it becomes unproductive.

      I personally, am not affected by this proposal. I made a decision when property tax was being introduced to avoid investments that would be affected by it.

      I know the scale of the debt of the Irish institutional state, and it’s chronic inability to rein in it’s largesse. They will tax that which cannot be moved around from one jursidiction to another.

      Lower scale capital investment in Ireland has serious disencentives. It is only by bottlenecking the housing supply that prices can be driven upwards. And that bottlenecking is now being used as an excuse for more statism. However, large scale investment gets loads of juicy carrots. It is NOT a level playing field. This proposal will probably make that even more abundantly clear.

      Ireland is in a trend towards statism, whilst others move away from it. Never mind the hard sell, from the media. The fact is that the well connected, can get benefit from the system faster than you can say “Siteserv”. It is the merger of Corporate and State power. Mussolini had a term for that….what was it ?

      Indeed, that is the way the the nEU empire is heading.

      As evidence, I produce the current instructions presented to Greece as a basis of it’s cult-like membership of the nEU Empire (cult like, because they will not allow Greece to walk away). For the benefit of well connected financial interests in Paris and Frankfurt.

    • Truthist


      Tony Brogan
      September 24, 2017 at 7:46 pm

      “Economists should be taxed out of existence.
      They are non productive and a danger to society.
      Show me one unit of productive use emanating from the mouth or pen of an economist.”

      Aristotle ; DECEASED !
      The King of Philosophers
      The greatest Genius the world has known
      Father of The Scientific Method
      Definer of The Essential Characteristics of Money

      Richard Cantillon ; DECEASED !
      Irish ; Co. Kerry
      Business man-Entrepreneur, & Writer, & Economist, in France
      The Founding Father of Modern Economics
      The 1st Thinker to write about the distinct entity now coined with his phrase ; “The Entrepreneur”

      Carl Menger ; DECEASED !
      Famous Polish Economist
      founder of “The Austrian School of Economics” / “Jewish Economics”

      Antal E. Fekete ; ALIVE !
      Mathematician & “Austrian School” Economist


      Hugo Salinas Price ; ALIVE
      Business-Man ; Creator of Employment
      Proponent of most workable & justifiable Re-Introduction of Money [ vis. Silver Coin ] at its thereon highest Spot-Value + Margin to be its Value as initially great savings alternative to Fiat Legal Tender “modern coins of trivial intrinsic value” & “textile paper of inherent non-intrinsic value”



      • And exactly what did they do? Who enacted and put into force what worked? Only the practitioners, only those who used the system voluntarily. The economists can say what they like but who listens to them: not the bankers, not the politicians, not even the people.
        But the people who traded year after year, century after century knew what worked, know what money was sound. It did not take an edict to put sound money into existence but it takes an edict to put it out of business. The real bills doctrine worked at the Medieval fair because it was worked out how to convert assets into paper script which were then spent and the issuer of the chit was repaid when the sale of the goods took place. Basically there was little to redeem as people spent as much in value as they sold.. Only a shortfall or a surplus was redeemed in hard money as final settlement.

        No economist devised this system but people are called economists when they describe what has already happened.

        Philosophers do not change ethics they just report on the changes and most have differing opinions , so who to believe.
        Economists do not change the economy for the better. Leave that to the invisible hand of the market place. Following the advice of economists just gets us all deeper in the doodoo.

        • Truthist

          “The unexamined life is not worth living.”
          Economists such as the above are useful ;
          Nay, essential.
          THEY ARE WISE

          • Truthist

            They are arguably Anti-Meddling Economics Economists

            But, I disagree that “the invisible hand” is “yer only man” ;
            Indeed, it does not work in real life today.

            Welfare State is :

            justifiable ; Morally, Practically

            tenable ; Economically

            The Catholic Church prior to Henry the 8th sacking the Monesteries, & Buddhism of countries such as Thailand, are examples of Welfare State deemed :
            economically sustainable

            Yet, I strive that ultimately every citizen is set-up to be self-sufficient as much as is reasonably possible & practical for them.

          • There is no such thing as a welfare state that is sustainable in the longer run. Not a one has ever survived due to bankruptcy, social unrest, and economic decisions made for political purposes. Even the US is bust and europe going thru a series of state bankruptcies.

            The best form of government is the least government. The welfare state is inevitably involved in wealth transfer rather than wealth creation and to do so makes a larger and larger government the raison d’etre.

            The trouble with the welfare state is that it is socialism and it works until it runs out of other peoples’ money. (paraphrasing Margaret Thatcher). Internationally the welfare state has become the norm and all are in the early stages of bankruptcy. To stave off the inevitable we have QE to infinity that will destroy all but the super rich and the political operatives.

            You are entitled to disagree but in my opinion you are WRONG and a danger to the rest of society because of the propagation of such opinions.

            The welfare state is destructive. It encourages entitlement, it kills incentive, it encourages profligate spending and consumerism and discourages thrift, savings and investment. Poor decisions are protected and the successful penalized. The economy is distorted and the result is universal poverty. That is what you want, that is what you will get.

  15. polomora

    Since when is land used for agricultural purposes not a productive asset? The most essential productive asset that exists.

  16. HoChi

    Singapore and Dubai, both ‘crossroads of the world’ (as is Ireland !) have vibrant economies as far as I can see, yet Ireland is blighted with the ‘whingers’ and ‘entitled’, this combined with local/national government that is doing it’s best to kill the economy (Apple Athenry v’s Apple Denmark as a prime example !). As some of our great writers have said, the best leave Ireland because they see the same mistakes being repeated over and over ‘Groundhog day style’. I’m proud to be Irish, but I’m not blind to all the SH1TE that goes on to stifle talent. Regulations, enforced by public servants, that prevent the talented from starting up, yet allow the chancers to milk the system. Leave the island ? Every day I dream of such a release because Ireland WILL NEVER be a land of opportunity, especially for the Irish middle class !

  17. Original-Ed

    Did you know that in Ireland, a business can’t buy the premises in which it is based. In the UK, it can. Been through this bullshit, had to get permission from the landlord to sublet and then move out, find a tenant before being able to borrow .
    Won’t tell you who the tenant was, but big in the news at present – could not get an operating licence for a specialist function here and had to move it to the UK – how could he be normal when there were political roadblocks like that put in his way.

    Don’t know where this bar on an occupant purchasing a premises came from but it still exists, heard on the radio last week.

  18. michaelcoughlan

    @rr6, adam, deco,

    Lads if I had a baseball bat and got the 3 of ye into a room I’d smack some fucking sense into ye with it.

    In the late 1800′s in ireland 3500 people owned 95% of the land. Remember the famine? 1m let starve and 1m let emigrate even though Ireland was exporting food at the same time. Farm land is the most important land asset and the hedge funds know it. That’s why they want it so badly. No futures market for the asset AND they have the population by the balls cause the rent will rise when inflation hits food production.

    I know alex what’s his name in infowars is a complete looper but……………..;

  19. Grzegorz Kolodziej

    I had a choice of writing some comments to Mr McWilliams’ article or watching the special one hour-long edition of the main news on the Polish TV, live from Germany, with correspondents in headquarters of the main parties, and l i v e translations of Mr Schulz’s and Mrs Merkel speeches as well as studio discussions by the Polish analytics (I wonder why the RTE, with a bigger budget, is unable to do such things, having chosen to air the Daniel and Majella’s B&B Road Trip, which is an interesting as watching the grass grow and as educational as a visit to a brothel with no wallet).

    I chose the latter, but I like the variety of views expressed under Mr McWilliams’ article and I’m happy that the Commentators had, thus far, stayed on the point – that is the content of the article; I enjoyed reading them. I hope that the discussion on the property speculation and taxes goes on because I think that this is the biggest obstacle that Ireland faces right now to everything ranging from the cost of doing business in Ireland, poverty, homelessness, chances of finding a sustainable employment to the lamentable fact that annually, the average person in Ireland spends in a car commuting 70% more time than the average French person and 30% more than an average L.A. person (I don’t want to mention the Dublin Bus because I’d like to avoid the F-word).

    It’s only a pity that the SideShow Bob is gone; he’d have plenty to say.
    From my side, I think I’ve said everything I said on Dublin City Council, NAMA, transport, property, etc.

    I’d like to remind the beloved Readers that the Dublin City Council has recently voted against raising the height restrictions by a few meters, and I’d like to throw in a passage from my comment to Mr McWilliams’ article on the Netherlands from last week that pertains to this article:

    “Like Ireland, the Netherlands is a small country; unlike Ireland, instead of zoning the land, they reclaimed the land from the sea: 36,000 acres between 1590 and 1615 (while in Ireland, only 5% of the land that NAMA sold was built on”.

    Gute Nacht, Freunde, es wird Zeit für mich zu geh’n. Was ich noch zu sagen hätte, dauert eine Zigarette und ein letztes Glas im Steh’n.

    P.S. F-word stands, of course, for fracedinous buses.

    • Truthist

      Re ; German Parliament Election 2017
      I note that Poland is being mentioned already in the Comments Section

    • Truthist

      Poland features in the remarkable Father of Modern Economics & the Proto-Austrian Economics Irish [ Co. Kerry ] Economist Richard Cantillon’s life story
      At least Poland features in Cantillon’s period of involvement with “suspicious / sinister” john laws through
      the English speculator Joseph Edward (“Beau”) Gage.
      Gage seriously attempting to purchase the kingdom of Poland from its king, Augustus.

      Do not let this distract u from ur duties ;
      But, it is worth bookmarking under suitable heading.
      EXCERPT ;

      But when the dust had settled, the shrewd Richard Cantillon emerged, after being a top partner in John Law’s Mississippi speculations, as a multimillionaire. Legend has it that, at the beginning of his meteoric career running French finances, John Law had come to Cantillon and warned him, “If we were in England we would have to strike a deal and settle matters, but as we are in France, I can send you this evening to the Bastille, if you do not give me your word to leave the kingdom within twenty-four hours.” To which Cantillon is supposed to have replied, “Hold on, I will not go and I will make your system succeed.” In any case, we know that Law, Cantillon, and the English speculator Joseph Edward (“Beau”) Gage formed a private company in November 1718. Gage was so wealthy from paper speculation in Law’s government-sponsored paper-issue bank, the Mississippi Company, that he seriously attempted, in this period, to purchase the kingdom of Poland from its king, Augustus.”

      • Grzegorz Kolodziej

        This is fascinating. I’m Polish and I didn’t know about it (if that’s true)! And John Law was such an important figure – he practically single-handedly indirectly caused the French Revolution by first overleveraging the French economy by convincing the French King to issue lots of state bonds and paper money and then, as a result, bringing it to the verge of bankruptcy and causing the anger of the French suddenly impoverished (via inflation) bourgeoisie.

  20. Truthist

    I just skimmed through this article on the man more famous for the principle propounded by him & it since named after him ;



    Look at what the article says about Mussolini in the early years
    It is contrary to what some above interpret as the essence of Mussolini.
    Of course, Miles Mathis will recurrently have musings & revelations to render on Pareto ;
    And, he does so most recently with his paper on Mussolini given as link in my reply to Deco above.

    • If you read through the thoughts and ideas of Parato it appears that he was a radical libertarian and would largely agree with my observations above regarding the adverse blessings of the welfare state.

      The 80-20 rule worked pretty closely with the income levels of the realtors. All worked on commission and so earned what they were paid from being successful.

      There was no socialized income calculation for those with entitlement syndrome. Basically the top 20% earned 80% of the money. The top 5% earned over 50% of the income.

      Then the welfare state came and scooped a basic 35% in income tax. Then they took 12% in VAT of the balanced except that spent on food. Even the purchase of real estate has a 2% additional VAT. Then are alcohol taxes, duties, fees and dues.

      A study by myself on a family of 5 with a 65,000 pa income had 66% of the income taken in dues, fees taxes etc. That is the average family wage earner decides how to spend on one third of the economy while the state decides the other 2/3rds. This was confirmed by chance by the Fraser institute within 3 months of my own calculation on the back of an envelope. Our figures varied by a thousand dollars on that 65,000 annual income and they used a family of 4 not 5.

      And Canadian taxes are not as high as several other countries.

    • Grzegorz Kolodziej

      “Grzegorz Kolodziej
      August 19, 2016 at 4:48 pm

      “Instead of 77 years of forced austerity Eastern Europe has suffered from thanks to President Roosevelt’s betrayal in Teheran and Yalta, free Ireland experienced a soft landing via visa-free immigration to the UK and turning a blind eye on Irish illegal immigrants in the US – an Irish solution to an Irish problem of first closing up one own’s economy to innovation and competition and then getting rid of those who did not inherit the family job – not because Ireland was occupied by the USRR, but because Ireland does not have what Pareto called “circulation of the elites” (LACK OF CIRCULATION WITHIN IRISH ELITES and the resulting system which benefits only them, David, not the inequality (would you rather be born in equal Cambodia or unequal Hong-Kong?), is the biggest thorn in the Irish society’s tissue – I see some families of TDs welded to the seats in the Dáil since before WWII and yet they still know nothing about everything); the period of Irish isolationism was followed in globalised Ireland by a wild outburst of gluttony during the Taoiseach Bertie Ahern era (Irish kids had the highest obesity rates in Europe).”

  21. Truthist

    Department of Social Welfare’s


    I having regularly written to the Government over decades as to the devious construct of Rent Allowance being devised to make Landlords privy to prospective tenants, & existing tenants, being candidates for Rent Allowance, & thereby facilitating P-R-O-F-I-T-E-E-R-I-N-G
    And, Profiteering in that sphere & level is … S-E-D-I-T-I-I-O-N


    QUOTE ;
    What is ‘Racketeering’

    Racketeering, often associated with organized crime, is the act of offering of a dishonest service (a “racket”) to solve a problem that wouldn’t otherwise exist without the enterprise offering the service.

    • facilitating P-R-O-F-I-T-E-E-R-I-N-G

      What is profiteering?
      Who decides how profits are calculated
      Who decides how much profit will be allowed
      Who will set up a business if the pocket is picked by people with no investment in that business.

      if profits are high in an industry then normally others will set up competing businesses and the supply of the product or service of that industry will increase.

      Make the profit too low or eliminate it or make it too much hassle then that business is failed and gone. Sounds like the welfare state solution to poverty for all. Equal results knows no limit to the level of poverty while a land of opportunity, equal opportunity, should allow for no limit to achievement..

  22. Truthist

    Irish State’s Court Service, incl. Solicitor[s] [ de-facto "Officers of the Court" ]
    Other Direct Heirs
    Family Member who is :
    NOT Next of Kin
    self-professed Military Republican with mentioning of action in North East of Ireland
    public protester on safe-issues of Irish Republican agenda
    other actors

  23. onq

    “Therefore, the assets that are most useless – land and property that drive inequality in this country – are taxed least.”

    There is land and there is property

    Exclude Sole Domicile’s from this and I could be persuaded

    Particularly in relation to a Windfall Tax on Property

    And 90% tax on any income earned over 1,000,000 per annum

    But as it stands your piece makes me puke

    There is always someone trying to tax my house as if its a performing asset

    It isn’t

    Its my home

    Leave it alone please

    • Deco

      You know, people would not mind, if the taxes were used for the purposes that are given.

      But bailing out incompetent bankers, throwing money at wasters in Donnybrook, the Dail bar, and providing an easy number for the relatives of important politicians is NOT part of the contract between the taxpayer and the state.

      What makes me puke is when the ESRI tells us that pension entry ages need to increase, though Noreen O’Sullivan, goes straight onto a pension, after being incompetent.

      The ESRI needs to be sold off. If IBEC want a mouthpiece pretending to economics, then I suggest they provide their own mouthpiece and not have the taxpayers provide it.

  24. Deco

    The AfD vote is making me think of the PSF contingent in the Dail.

    Because there are things that even AfD will not do. .

    Were any of the Parlaimentarians were making bombs to murder people ?

    Were any of their Parlaimentarians making excuses for fuel smugglers ?

    Have PSF yet apologised for the ethnic cleansing that occurred in the border areas ?

    The Irish media are now giving a complete free pass to a political party whose ideology was based on the persecution and murder of Protestants, not that long ago.

    And which includes a substantial mermbership that still holds enormous contempt for Protestants.

    SF – another free pass, from the Irish media, who are refusing to stand up to them.

    With FF, and the ILP completely discredited, the next election will have two centres of gravity.

    One will be FG, and the other will be PSF.

    That is frightening. How did we allow this to happen ?

    By the gardai not investigating, and by the media staying silent.

  25. CorkRob

    A Couple of Points:

    Wealth Inequality – DMcW – you portray this as a bad thing, but the corollary is Wealth Equality – is that where everyone has the same wealth and there are no Wealth Layers ? If so, who provides the investment and Venture Capital and establishes ventures and hires workers ? Isn’t that the communist dream?

    “…we are taxing hard work over sloth and in so doing driving up the cost of accommodation ” – how is that ? If you are reducing the amount of nett cash the consumer has in his/her pocket, how is this driving up the cost of accommodation ? Surely if you can only pay less for accommodation, the prices should drop ? Isn’t that how Market Demand works

    I don’t own any assets (AIB still has a mortgage hold on my home) – my elderly parents are ordinary retired PAYE folk, but if you speak so badly about “Inherited wealth” and how it should be “Taxed to the hilt”, how unfair is that to every hardworking successful person who has sacrificed throughout their life to acquire that wealth, so as to leave their kids well provided for, only to see it “redistributed” amongst those who didn’t work so hard, didn’t make sacrifices, didn’t take risks, didn’t do without ?

    Surely you should be talking about taxing Land that is lying derelict or uncultivated – generating NO income…otherwise you will only drive up the cost of leases & con-acre and produce for everyone.

    Lastly, your assertion that VAT is “Hyper Regressive” because the Poor smoke more than the wealthy and so pay more, is laughable.,,, come on `David, you’re dredging the bottom of the barrel now for rationale. … in that case VAT could be argued to me punitive to the wealthy because they drink more Champagne & Brandy…. Are you looking to court the Shinners/Paul Murphy mentality now ???

    • “Surely you should be talking about taxing Land that is lying derelict or uncultivated”

      I personally assumed that’s that he WAS talking about – it’s what I was agreeing with.

  26. Truthist

    Speaking as a person in abject poverty for most of my life & having to withstand incredible corruption by private persons & companies & some of the most significant main professions & the Civil Service & Quangos & Charities & Politicians & the Catholic Church [ as traitor to me a Catholic & not because I not a Catholic ] inter alia, & during that time variously “homeless” & “homeless + roofless”, I state ;
    NO Property Tax !
    However, every Citizen must be automatically given as physically transportable to any region of Ireland a nominal area of “minimum – maximum Length” x “minimum – maximum Width” as their PRIVATE PROPERTY entitlement FOR FREE when they leave their homestead rearing*
    *Homestead rearing incl.s
    Family home
    Foster Home
    Child Institution / Child Prison
    And, that area unbound by height when unobstructed above.
    Also, that area physically transportable into the interior of larger building at any floor whereupon a minimum nominal Height is required for each smallest sub-module of area [ perhaps ; 0.01 m2 ] of said total nominal area.
    Thus, possible to physically transport the nominal area into any floor of minimal nominal height of Condominium Development.
    This physical transportable nominal area Private Property :
    cannot be sold
    can, upon death of owner, be retained by :
    surviving Irish citizen adult “spouse” or “partner” or “co-habitant” or “sibling” or “friend” WHEREBY this surviving Irish citizen simultaneously transfers their own similar nominal area Private Property [ if they so own ] back to the Irish State
    surviving Irish citizen adult “spouse” or “partner” or “co-habitant” or “sibling” or “friend” WITH “Children” & / or “Foreigner[s]” WHEREBY the surviving Irish citizen simultaneously transfers their own similar nominal area Private Property [ if they so own ] back to the Irish State
    surviving Irish citizen Child[ren] WITH OR WITHOUT Foreigner[s] WHEREBY the surviving Irish citizen Child[ren] simultaneously transfers their own similar nominal area Private Property [ if they so own ] back to the Irish State
    reverts to the Irish State when 2. above does not pertain
    L-A-N-D-L-O-R-D-I-S-M O-N H-O-M-E-S I-S C-R-A-S-S !

  27. coldblow

    I agree largely with Deco and CorkRob.

    There should be no new taxes and any money taken in is wasted.

    My heart must be hardening as I get older but I don’t see a housing emergency. Why are these people on the streets?

    An owner occupier has already paid enough in taxes on his property without more.

    If you are thrifty all your life and buy a house and build up savings and you are not entitled to a pension the means test for the other, less well paying pension, are brutal. You may as well have no savings.

    It has reached the stage with me that I prefer to live with a huge inequality of income than put up with a state of affairs where welfare dependency and helplessness is rewarded over effort and responsibility. There is little incentive to save. There is absolutely no incentive to marry. Or to keep the law. So I would prefer an Ireland where a small minority is very rich and that in the full knowledge that this includes much of our worse than useless media and political class who are largely responsible for the state of affairs.

    I agree that the 23% Vat is a disgrace (and very few people seem to be aware of this indirect taxation). I suppose they still have the car import tax. And that stamp duty on houses is still very high. And that the RTE licence fee is provocative.

    But then to have the emoting and the sanctimony of our public preachers on top of it all is too much. “Refugees” exploiting our foolish asylum laws, homeless addicts and young people who cannot get on with their parents, self-styled feminists who demand the right to walk down the street naked if they wish without encouraging assault. And so on, and so forth.

    There is a case for taxing land to bring it into use, of course: Henry George, Raymond Crotty. But even here I would urge caution. I’d rather see Squire Bruton living out his years in genteel comfort than see our establishment waste his assets too. And I have never voted FG nor could imagine doing so for a nano second.

    But of course, ‘property’ tax would mean people’s homes. We all know that.

    I rarely comment on economics these days. Partly because I don’t know much about the subject. But mainly because we have long passed the point where economists have lost all touch with reality. This is a psychological problem, as I keep saying.

    And talking of mental illness, has anyone tumbled the thinking behind the proposals to charge water users for excessive use, defined as more than 1.7 the average rate? It seems they put this bit in at the behest of the EU. (That is the same EU who govern this country but are hardly ever referred to, despite being the stupid Euro-Mastodon blocking the view of the telly.) As people will be anxious not to be charged they will cut down, everyone will cut down on water use. And we will reach the stage (as predicted here years ago by Stephen (Kenny?) that so little water will be used that we will end up using bottled water. This is the reason for my opposition to water charges. The charges were bad enough (see above) but the effect the charging system would have on consumption is just stupid. Euro-stupidity.

  28. Grzegorz Kolodziej

    The British Nazi “Daily Mirror” newspaper has just called the German mass murderer Hans Frank a “Polish mass murderer”. After the intervention of the Auschwitz Museum, they removed the “Polish” lie – but they refused to put the correct “German mass murder”. I, therefore, call “The Daily MiSSor” the Nazi newspaper, complicit in the Holocaust denial. I hope that its editors will be treated accordingly by the British police.Failure to do so would prompt me to think that the British police has pro-Nazi sympathies.,Britains-Daily-Mirror-calls-Nazi-war-criminal-Polish-mass-murderer

    • Truthist

      Newspaper Magnate knows surely that there is now massive Polish community in UK ;
      So, why risk antagonizing with vicious slur which is lie also ?
      Maybe, motivated by :

      Geo-Politics Gamesmanship ?
      & / OR
      History-Books Protection / Victim-Script Protection ?
      & / OR
      Anti-Catholicism ?
      & / OR
      Anti-Slavicism ?
      & / OR
      specifically “Anti-Indigenous Poles” ?


      Who owns the Daily Mirror ?
      Who owns the bulk of the Newspapers in UK ?
      Who owns the bulk of Daily, & Weekly, & Monthly, News & Opinion-Forming Newsprint Media in UK ?
      Who owns the bulk of Private Main-Stream Media in UK ?
      Who controls the culture of the BBC ?
      Who controls Book Publishing Sector of UK ?
      Who controls Movie Production in UK ?
      Who controls Popular Music Production in UK ?
      Who controls Pornography Production [ legal & illegal ] in UK ?
      Who controls British Foreign Policy ?
      Who controls British Internal Policy ?
      Who controls British Banking ?
      Who controls British Intelligentsia ?
      Who — besides the Royals — own most of British Property ?
      Who ….
      The Irish ?

    • Truthist

      Did u note my piece on Rent Allowance / Rent Subsidy ?

  29. This is not the first and will not be last time we are governed by the incompetent and the self serving and all advised by economists!!!!!!!.

    From Wikipedia, the free encyclopedia
    Look up kakistocracy in Wiktionary, the free dictionary.
    A kakistocracy (English pronunciation: /kæk?s?t?k??si/) is a system of government which is run by the worst, least qualified, or most unscrupulous citizens.[1][2] The word was coined as early as the 17th century.[3] It was also used by English author Thomas Love Peacock in 1829, but gained significant usage in the 21st century.

    The earliest usage of the word dates to the 17th century, in Paul Gosnold’s A sermon Preached at the Publique Fast the ninth day of Aug. 1644 at St. Maries:[3]

    “Therefore we need not make any scruple of praying against such: against those Sanctimonious Incendiaries, who have fetched fire from heaven to set their Country in combustion, have pretended Religion to raise and maintaine a most wicked rebellion: against those Nero’s, who have ripped up the wombe of the mother that bare them, and wounded the breasts that gave them sucke: against those Cannibal’s who feed upon the flesh and are drunke with the bloud of their own brethren: against those Catiline’s who seeke their private ends in the publicke disturbance, and have set the Kingdome on fire to rost their owne egges: against those tempests of the State, those restlesse spirits who can no longer live, then be stickling and medling; who are stung with a perpetuall itch of changing and innovating, transforming our old Hierarchy into a new Presbytery, and this againe into a newer Independency; and our well-temperd Monarchy into a mad kinde of Kakistocracy. Good Lord!”[9]

    • Truthist

      Yeah, but nearly all of the Kakistocracy have very high university qualifications.
      But, then again, most of the really talented people I have met were drop-outs from university.
      By the way, a big reason for university drop-outs is Misandrists victimizing Male students.
      It is a land cursed so it is to be ruled by Homosexualists, Misandrists, & Self-Chosenites
      free E…N…E…R…Y
      Yes, Nicholas Tesla

  30. Just as the PTB ordained. Liberals attack the conservatives. Anti Trump style politics emerge in Germany

  31. Authored by Jim Quinn via The Burning Platform blog,

    Do you ever hear something so startlingly mind numbingly ridiculous you realize it must be a sign things have gotten so fucked up something has got to give?

    As I was driving to work yesterday morning on the Schuylkill Expressway a commercial comes on the radio from a plastic surgeon advertising for anyone looking for a better set of boobs. I had never heard a plastic surgeon commercial before, so I thought that was unusual. But, that wasn’t the best part. This plastic surgeon was offering no money down 18 month interest free financing on your new boobs.

    “”Now that revolving credit has reached a new all-time high of $1 trillion and total consumer debt outstanding has exceeded it’s 2008 peak at $12.8 trillion, the Fed has completed its job of helping the average American again in-debt themselves up to their eyeballs. This is considered a success story in this twisted, perverted, bizarro world we call America today. The solution to an epic debt induced global financial catastrophe caused by Federal Reserve easy money, Wall Street fraud, and Washington DC corruption has been to increase global debt by 50% since 2007, with virtually all of it created by central bankers and the governments they control.”"

    • “”The boobs on credit commercial I heard this week is just another example of Wall Street and their Deep State crony co-conspirators completing their scheme to financialize every aspect of our lives and entrap us in chains of debt, beholden to these modern day Wall Street slave owners. When you see the record number of retail bankruptcies and store closings happening when GDP is supposedly rising by 3% and witness with your own two eyes the number of vacant storefronts and restaurants across our great land of materialism, you might wonder why revolving credit card debt is at a new all-time high.

      The answer is Wall Street has successfully financialized virtually every aspect of our day to day lives. Consumer and taxpayer transactions which required cash or check ten years ago can now be paid with a credit card. You can pay your IRS bill with a credit card. You can pay your real estate taxes with a credit card. You can pay your utilities with a credit card. You can pay your school tuition with a credit card. You can pay your rent with a credit card. You can “buy” furniture and appliances without paying for seven years. And guess what? That’s what millions of average Americans are doing. In addition, they are driving “rented” $35,000 automobiles on seven year nothing down payment plans.

      This massive debt induced fraud of a recovery gives the appearance of normalcy and stability. The stock market is at all-time highs is used as the narrative of central banker success. We’ve experienced extremely low volatility as the central bankers around the world have coordinated their money printing/debt creating schemes to purposely elevate financial markets to give the masses confidence that all is well. Anyone with critical thinking skills knows all is not well. The longer this fake stability is maintained the greater the collapse. Success breeds disregard for the possibility of catastrophe.

      So you can call me the boy who cried wolf, but our Minsky Moment is approaching.”"

      (A Minsky moment is a sudden major collapse of asset values which is part of the credit cycle or business cycle. Such moments occur because long periods of prosperity and increasing value of investments lead to increasing speculation using borrowed money.)

  32. Truthist

    Dept. of Social Welfare’s SS Photo ID Card + associated SS Databases


    This scheme – should China effectively carry through on its intentions – is quite revolutionary and likely to have vast consequences which will affect the whole world.

  34. By Greg Hunter’s (Early Sunday Release)

    Trader/analyst Gregory Mannarino says Fed Head Janet Yellen “lied” when she spoke last week about the “mystery” of not hitting the Fed’s inflation targets. Mannarino explains, “It’s no mystery. You have to choke or laugh or barf when you hear her say something like that, and no one checks her on that. It’s an absolute lie, an incredible lie . . . the economy is dead in the water. It’s Economics 101. That’s why she can’t create inflation. It’s no mystery. The cash isn’t moving. The cash is not moving because the economy is going nowhere. She can perpetuate the lie because she has managed to inflate the stock market. The average person looks at the stock market and says the stock market is going up. So, that means our economy is doing well. It’s an incredible thing, but it’s just not the truth. This is how they can twist people’s minds. By keeping the market elevated, it is an illusion. The illusion becomes real to the uninformed.”

    Mannarino also warns that bills for storm damage and bankrupt states are piling up. U.S. territory Puerto Rico was destroyed by a hurricane and is bankrupt. States like Illinois, Pennsylvania and Ohio are also having debt problems. Mannarino contends, “This is how they are going to kill the currency. The Fed is going to be forced to print more cash out of thin air and loan them money, whatever it’s going to be, and then the currency dissolves. We’ve seen this before. . . . At some point, we are going to face an absolute and complete meltdown of the system. The debt based economic model is fraudulent. It’s a Ponzi scheme. The federal government is going to be asked to do something, and that will kill the currency, and we are going to get hyperinflation. That’s when the cash is going to start to move.”

    In closing, Mannarino says, “The central banks are going to take everything. You will be a serf at some particular time, serving your masters like you do already. I think we are going to be experiencing a new middle age– period.”

  35. goldbug




    • Here is another. Glyphosate cause neurological changes too, leading to autism and spinobifita and other problems.

  36. Truthist

    @ Tony Brogan,

    Ref. … again
    Tony Brogan
    September 24, 2017 at 7:46 pm

    “Economists should be taxed out of existence.
    They are non productive and a danger to society.
    Show me one unit of productive use emanating from the mouth or pen of an economist.”
    Most of ur posts — certainly most of ur post on Economics — consist of a few lines of introduction, & / or a few lines of summing up, of what is in the main either a full bulletin statement or extract from a longer statement of some Finance Analyst or Gold Trader Analyst or … Economist.


    what u urself perceive

    what u urself are impressed with as sound argument

    what they themselves perceive ; And, it is mostly this that u do in recent to mid times ; e.g. Mr. Paul Craig Roberts ; PCR being former Assistant Treasury Secretary in President Reagan’s Government Cabinet & still a practising Economist
    Yet, I do see value in availing of certain Economists.
    And, I do accept ur point that Economists do not create wealth with economics.
    Indeed, that they are commentators on the past.
    But, I add that they also can be accurate commentators on the present.
    And, they can be unfailingly accurate futurists that supplied cogent worthy arguments in their forecasts.
    They can serve as wise men to explain what are the +’s & -’s of particular courses of action or inaction by whomsoever.
    Civil SERPENTS
    The Professional Class
    Particular Corporates
    Commercial Banks
    Currency Speculators ; e.g. George Soros
    Private Central Bank ; e.g. Irish Central Bank ; Really an Embassy for the Rothschilds
    The Rothschilds ; ==> IMF, World Bank, European Central Bank, Federal Reserve Bank of USA, Bank of International Settlements
    Bull Sh..t out there in the Main-Stream Media

    • Truthist

      I meant to include in that list ;
      “Vast majority of Economists ;
      Vast majority of University educated / indoctrinated Economists
      Particularly, Graduates of :
      Keynesian Economics
      Monetarism Economics
      Unless, these Economists are really “Austrian School Economics” Advocates

    • Most of ur posts — certainly most of ur post on Economics — consist of a few lines of introduction, & / or a few lines of summing up, of what is in the main either a full bulletin statement or extract from a longer statement of some Finance Analyst or Gold Trader Analyst or … Economist.
      Very seldom an academic economist. John Williams at is an exception but then he works in the private sector and gets paid for his results and the accuracy of his analysis by corporations trying to make sense out of the economic mayhem produced by government and central bank economists.

    • “Economists should be taxed out of existence.

      Of course following the thesis that taxes cause increased productivity taxing economists out of existence would be impossible as the more they are taxed the more efficient they will become??


    I think the farmers also got the wrong end of the stick when it came to David’s article.

    I’m sure he wasn’t referring to agricultural use, forestry etc. in terms of non-productive land.

    Ciaran Moran, or his editor at the Irish Independent should have checked with David before printing the farmers’ outrage.

    • You’r sure, adam, but where is the retraction to set the record straight.

      • Truthist

        Very plausible that DMW did.
        Even that great Irish patriot Raymond Crotty [ Economist, World famous Academic Writer, Farmer, inter alia ] advocated taxing all agricultural land ;
        By way to encourage it the farmer to be more productive.
        And, DMW is surely very aware of Crotty.

        • Truthist

          Ref. Wikipedia
          Although, Wikipedia is always subject to censorship by active teams from … 8-)
          “… Crotty was a prolific writer, producing books, pamphlets, articles, and letters on subjects such as economics, history, and Ireland’s involvement with Europe.
          His final work, When Histories Collide: The Development and Impact of Individualistic Capitalism, was edited by his son Raymond and published posthumously in 2001.
          It is an economic history of mankind from the earliest stages of human development to the present day.
          Reviewing it on behalf of the American Sociological Association, Professor Michael Mann of University of California, Los Angeles (UCLA) described it as ;

          “an extraordinary book by an extraordinary man”
          “a must-read”.[4]

        • Interference in the economy by government for any purpose is not renowned for having a positive result. All taxes are coercive. Most of the advice given to government is from economists usually with negative results. Granted politicians often do not listen to anyone except their own self interest.

          As for taxing people to make them more productive, be my guest. Carried to extreme taxing people 150% of earnings should make the economy a real dynamo!!Duh!

          • Truthist

            U know fully well, & as does anyone who is avid reader of this blog, that I am very much for small government.
            Thus, very little taxes & other charges to impinge on the bulk of the populace.
            But, we do need to recover wealth from Irish State citizens — all not necessarily indigenous Irish — persons who got inordinate sums LEGALLY.
            We need to have retrospective laws for to pull back what they took through facility of the Kakistocracy.
            I think Taxation is not the smart way to claw back from those spivs & spiveens.
            And, surely we should be taxing to the hilt the foreign land speculators ?

    • paddythepig

      How can you be sure? David talks in broad terms about land, property, and inheritance, and fails to qualify anything in his article. The editor of the independent should be checking on David to ensure he writes accurate, pin-point articles rather than engage in generalisations that are open to interpretation.

  38. Deco

    The main learning point in economics here, is bsaed on THE ULTIMATE IRONY !!!!!!

    Property is no longer the primary source of passive income.

    State largesse is surpassing it out.

    And in order to sustain that largesse, property must be taxed to the hilt.

    I think the article indicates that we have reached the point of SYMBIOSIS.

    The Institutional State is now too large, and extortionate for the host upon which it lives.

    It is only sustainable in the short term, when there is a bubble somewhere propping it up.

    That Bubble can be the Nasdaq.

    Or the Eurozone under Trichet.

    Or the Eurozone under Draghi, and state borrowing binges.

    Or the Tech Sector under Janet Yellen’s loose monetary policy.

    But….basically….there is a need for a bubble, to inflate an economic system that is deliberately inefficient to the point of sustaining the maximum level of statism that is possible.

    • coldblow


      Hitchens in the second half of this interesting review of a book about Scandinavia (which I since bought and read) summarizes the all-powerful state excellently (as well as I have seen it summarized):

      Crotty was dead set against the Irish state.

      • Grzegorz Kolodziej

        I read this article and it is very interesting indeed, quoting things about Sweden not easily available to English-speakers (in the 1990s Poland there was an book published – interview with a Swedish politician – who covered all of that).

        A week before Mr Hitchens’ article wrote:

        “Btw – did you know that Sweden was the first country in the world to experiment with eugenics, before the Nazis?”

        Btw, the Swedes behave completely differently abroad than in Sweden (a lot more relaxes abroad).

        • coldblow

          I visited Sweden three times in my early twenties (1980 was the first time, just before I turned 23) to see a friend from university, a Yorkshireman who was researching for a phd in Swedish fascism. We discussed the eugenics programme a bit, forced sterilizations of (as I recall) some ‘Tatars’ and those who were ‘slo’ (o with umlaut): ‘slow’. Sweden was a strange place. On my first visit my friend asked me after a day or two, “Have you noticed yet?” I didn’t know what he meant. He repeated the question the following day and I replied, “Yes”.

          Hitchens was taken by the author’s ‘experiments’ on the Swedes. I have my own experiment to use on the Continent: buy 20 euros and 3 cents worth of petrol and hand over a 50 euro note. In Sweden I’d use the old Peter Cook sketch and the conversation would go like this:

          “Did you know… the whale isn’t a fish. It’s a…”

          “A mammal!”

          “It’s an insect.”

          “That is stupid!”

          They found a collection of human skulls in Lund (I think). People actually did seem to have opinions about skull dimensions as I found out. I don’t care although it did seem a bit strange.

          Though I did see one of the prettiest girls I ever laid eyes on.

          Booth’s book is interesting, especially about ‘Jante’s Law’ and the Danes in general. (I find Denmark quite boring.) Booth (Hitchens calls him ‘a Lefty’ or ‘a bit of a Lefty’) is a typical liberal in that he is obsessed by immigration. Like David everywhere simply HAS to have it! Why? Where does this religious conviction come from? It is weirder, much weirder, than anything I ever came across in Sweden. He is unhinged.

          Hitchens’s point about the state is that in return for allowing the state to take control of your life you are liberated from traditional responsibilities, especially family ones. (Hitchens refers in his article to his The Abolition of Britain, which on re-reading, I think is a masterpiece.)

          • Truthist

            The following is not really cogent ;
            ” I have my own experiment to use on the Continent:
            buy 20 euros and 3 cents worth of petrol and hand over a 50 euro note.

            In Sweden I’d use the old Peter Cook sketch and the conversation would go like this:

            “Did you know… the whale isn’t a fish. It’s a…”

            “A mammal!”

            “It’s an insect.”

            “That is stupid!”


            Please explain 8-)

          • Grzegorz Kolodziej

            “Hitchens’s point about the state is that in return for allowing the state to take control of your life you are liberated from traditional responsibilities, especially family ones. ”

            What he describes was earlier described by Feliks Koneczny as the Byzantine type of civilisation.

            Btw, I have a friend who says that her friends have been living in Sweden for more than 20 years and they are now moving to Poland because it is simply too unsafe to raise a family in Sweden (and obviously, unlike Ireland, Sweden has total censorship – so you cannot even talk about it because the Swedish state might take your kids).

            Actually, in Europe this trend described by Mr Hitchens started with Bismarck’s Prussia and his system of insurance (in a traditional family, your insurance was your kids) – that was one of many reasons why Feliks Koneczny gave an example of Bismarck’s Prussia as the Byzantine civilisation.

          • Truthist

            I already know what u were explaining there Grzegorz.

            But, I suggest that only Coldblow can explain the portion that I actually pointed out as being not cogent.


            Hitchen’s deceased brother was Bisexual ;
            And, the like are m-o-s-t-l-y very promiscuous.
            And, it is not unreasonable to consider other aspects.
            Anyway, that the alive “conservative” Hitchens according to Coldblow is dismissive of claims & evidence of mass pedophilia amongst the movers & shakers of British society, may be influenced by a sense of shielding for his brother possibly being acquainted with that lot.
            Were u to want to achieve much more traction against The Frankfurt School agenda, u would be better to start conversing with Carmen Paglia.
            Great brain there.
            I think that u may be able to prompt her to research & reminisce on TFS more & of course reveal her original insights.
            U will not gain Hitchens favor about all the betrayals by UK upon Poland before & during & after WW2.
            From what I discern, North Western European intelligentsia is fixed on being dismissive of Eastern Europeans ;
            And, some such as Poland held in most contempt.
            F..k em !
            The next generation will be more open-minded towards Poland & Poles simply by natural happenance of personal relations & academic encounters of Polish prowess in whatever.
            Have u ever thought of hosting ur own Internet Radio Interview broadcasts ?
            Deco would an interesting native guest to host.

          • I see Ted Heath turned out to be innocent after all.


            coldblow will have a field day with this.

          • Truthist


            I just read that link u gave ;
            N…..o !
            That short article does not exonerate Heath.
            Rather, it already indicates that he is guilty of serious sexual offences.
            Of course, there is alway the likelihood of :
            some fantasists
            some slanderers & libelists
            & even
            some false-opposition accusers with aim of discrediting through various tactics the genuine accusers
            Please forgive my choice of words above that would lend themselves to suitable puns were we not talking about sexual abuse, & particularly sexual abuse of children, & in Heath’s case … boys !
            Heath was visitor to Kincora Boys Home in Belfast.
            And, Lord Mountbatten was another.
            And, so was SAS Captain Nairac.
            And, without going into even only an outline, this is how u got :
            Dublin & Monaghan Bombings
            Margaret Thatcher elected in UK
            Victor Rothschild was the real ruler of UK with Maggie Thatcher as very talented Actress playing the part … with conviction.
            Possible that Maggie Thatcher was lesbian.
            There is some evidence of this.
            Most people in elected politics are rather strange.

          • I did read it Mr bonbon.

            I was being sarcastic – something which goes above your head.

            Moving on, here’s a serious question – and not meant to offend you – have you been diagnosed with Asperger’s Syndrome?

          • Truthist

            Dearest Mr. Adam — Computer Science expert — Byrne,
            U were not being sarcastic.
            That is clear.
            But, to save face following u revealed to be inept in reading a short article with crucial conclusion to extract, vis. Heath is guilty of serious sexual offenses [ And, given the scope of the investigation ; We must presume serious sexual offenses against persons younger than age of consent ; And, given that Heath was a homosexual ; ==> We must presume then that the victims are Males of years 16 or younger ; That means children in my understanding ], u resort to feeble equivocation.

          • coldblow


            Peter Cook’s whale joke at 2.18 in this short clip:


            The Swedes don’t share the English sense of humour. In fact, continental Europeans don’t seem to like a lot of humour because they fear it may be directed against themselves.


            I hope you didn’t suffer too much damage in the recent storm in Dominica. Truthist’s problem is not Aspergers but manic depression as far as I can tell. I have come across quite a few like him on the wilder shores of the YouTube commentariat, usually calling for some dead person to burn in hell for eternity. Some of those are obviously posting under multiple names: they seem to have a deep need to deceive to prove self-worth, but they are rarely any good at it.

            As for me having a field day about Ted Heath being found innocent (I don’t follow the news) all I will say is to repeat what I have said before: if something seems to good to be true, or too awful to be true, it hardly ever is true, even if most people think it is. And that if you spend even fifteen minutes looking at the actual evidence it will go some way to proving this.


            I have never heard of Byzantine civilization in that sense. The biggest difficulty I think I can see in trying to address the menace of an overweening state is that women believe it has liberated them from traditional forms of oppression. It was an odd coincidence but Hitchens seems to have implied something similar (in a recent article about Princess Diana) when he said that she had appealed to many bitter and unhappy women, who rightly or wrongly thought that their lives had been blighted by men. Then again, perhaps I am just imagining the parallel (but I doubt it).

            When I visited Sweden in the 80s it seemed to be very safe. But so did London and most places I knew too. It was only when I came to Dublin in 87 that I came up close to lawless estates (most notably St Teresa’s Gardens and Dolphins Barn in general). I have a bit of a soft spot for the Swedes even though they can be very odd, possibly because they are. I met an English academic over there who had spent decades living in Lund, the university town my friend was studying in. I think he had had a big part in unearthing the skull collection. In his (admittedly jaundiced) view of them a typical Swede would bear a grudge for years against his next-door neighbout. One night one of them had been out drinking and got a lift home. When he was dropped off he decided to push his car off the road and onto his driveway. The neighbour was watching from behind the curtains and called the police who arrested his neighbour for propelling a vehicle while intoxicated. I myself drove a Swede’s car off a main road because he had drunk a couple of beers (as I had, no more than two) and couldn’t take the risk. I still quite like them. My friend hates them.

          • coldblow – Mr bonbon definitely has Asperger’s, he may also have manic depression but the Asperger’s is a definite.

            Mr bonbon – you can still get help, it’s never too later:


          • I live in Tobago now which is 400+ km away from Dominica and 660 km from Antigua – both former homes of mine.

            Dominica got wrecked, I’ll have to go over there in a month or two to see my friends, when the country starts getting back on its feet.

          • What were you supposed to have noticed?

          • coldblow


            That academic also described how when the Swedes moved into new housing estates from the forests in the 50s there would be instructions on the toilets explaining how to use them. Not that I am laughing. When my father’s mother and father were preparing for the visit a relative, a nun, they built an outside toilet, the first that had ever been there (hitherto you did your business in the open ‘faoin gcpóig’). In Carlo Levi’s Cristo Si É Fermato A Eboli (I think it was), about his exile in the backward south in the fascist era, he talks at the end about emigrants from the region to America. Every so often a party of them would drive off into the country for a picnic and then the joy of crapping out in the open, for old time’s sake. After her visitor left (this would have been in the early 60s I suppose, maybe the late 50s) my grandmother didn’t know what to do with the new toilet and put a hen laying in it. This is what it had always been like, everywhere, and perhaps we are all heading back there.

          • coldblow

            I don’t think the snowflakes can imagine what it must have been like.

          • Grzegorz Kolodziej


            “That academic also described how when the Swedes moved into new housing estates from the forests in the 50s there would be instructions on the toilets explaining how to use them. Not that I am laughing. When my father’s mother and father were preparing for the visit a relative, a nun, they built an outside toilet, the first that had ever been there (hitherto you did your business in the open ‘faoin gcpóig’). ”

            I can believe that – when the Swedes invaded Poland in the 17th century, they came from a country so poor that they were told to steal not only livestock, works of art and precious metals (needless to say that like Germans and Russians, they never returned any of that – except for a frieze depicting the entry of Constance Habsburg to Kraków), but every metal object they would see, including buckets (not sure though why they took relics of St Stanislaus).
            The best example of how incredibly backward Sweden was at that time compared to Poland is to say that they have also torn out all the door-frames and took maids dresses.
            In Lubomirskis Castle in Wisnicz they had stolen 150 carts of goods.

            Even today, most of the Polish pre-17th-century buildings have a description “damaged in the 17th-century during the Swedish deluge”.

            Many of these soldiers refused to come back to Sweden and settled in Poland, and the town where I was born is an example of such place.

            It is fair to say that their invasion (in Poland called “Potop” – “Deluge”) for the Poles, they must have come across like those Eritreans, Bangladeshis, and Somalians coming to Munich in September 2015 came across to rational Bavarians.

            In 2002, the Swedes organised an exhibition called “The Eagle and Three Crowns. Polish-Swedish neighbourhood at the Baltic in modern era” – it consisted entirely of objects robbed in Poland.

            Percentage-wise, during the Deluge they killed FAR more people (4.4 million) in Poland than the Germans killed Jews in the Holocaust (3 million).

            There it goes “the Scandinavian solution” myth…

    • Bubble and bust is the name of the game. Some call it the business cycle, but it is a symptom of the expansion and contraction of the credit system.
      Such system run for their own benefit, the bankers, to systematically milk us all of our wealth and gains from labour. The next contraction will dry up the udder and we will wait for a while for the following recovery. A new birthing will be needed to fill the udder again. This time we need to let the calf grow (the economy that is) and only take from the udder what is really needed. Waste not, want nt applies here too. A full generation will be lost while we recover..

      We need to be rid of the central banking system and take their dirty hands off the teats for good.

      • Truthist

        I read Hugo Salinas Price’s article.
        I do not know why he says ;
        “Once the Yuan has been sufficiently devalued, the Chinese government will be able to make all Yuan currency redeemable in gold, plus all Chinese private and government debt.”

        This being a precise & most important part of True Economics where u really excel in this blog [ Yes, even more than our host's regular exhortations over the years to invest in Gold, & failing that Silver, & his rallying against Private Central Banking & Fractional Reserve Banking & then Zero Reserve Banking when he found out that the Commercial Banksters on license from the Rothschilds' respective Embassy Bank, vis. Private Central Bank of ... ( in Irish State's case pre-Euro "The Rothschilds' Private" Central Bank of Ireland, & now for Euro-Land "The Rothschilds' European Central Bank aka ECB ) that they do not even base their invented currency for loans on any Reserves whatsoever e.g. reveal this from "The Rothschilds'" Private Central Bank of England ] … 8-) … I feel need to humbly request ur explanation of the above HSP analysis.

        Thanking u,


        • “Once the Yuan has been sufficiently devalued, the Chinese government will be able to make all Yuan currency redeemable in gold, plus all Chinese private and government debt.”

          Think of real devaluation as in purchasing ability rather than a devaluation compared to other currency. The topic is devaluation in terms of gold. Consider that the set price of gold in USD in 1913 was around $20. Today the USD price for an ounce on gold is approx 1300 USD. That is the USD has devalued 98.5% against gold. That with the heavy hand of government and central bank policy involved in keeping the price of gold as low as possible.
          In 1913 $1 bought 1/20th of an ounce of gold.
          in 2017 $1 buys 1/1300 of an ounce.
          To back the USD with gold only requires 1.5% the amount of gold that it did in 1913.

          China now is proposing to back the YUAN with gold. It will be in China’s interest to have the price of gold as high as possible compared to the value of the Juan. Therefore China will devalue the yuan in comparison to gold and bid up the price by going into the physical market and creating heavy demand.

          Simply put. When the price of gold is high enough to be able to have all the Chinese reserves of gold back the value of the total Juan currency and juan based debt, then they will do it. The inverse to the price of gold going up in terms of Juan is the devaluation of the Juan compared to gold.

          China has a quirk in this program. They will not use reserves to back their currency but instead provide the gold, to settle the trade, by selling China’s reserve holdings USD bonds and using the proceeds to buy gold on the open market. Thus they will be rid of a depreciating asset using it to acquire gold that then is used to back the JUAN

          Thus three or 4 things happen.
          1.The value of the USD falls in relation to all assets including gold and other currencies
          2. The value of the Juan rises compared to other currencies
          3. The price of gold rises in all currencies
          4. Those with large holdings of physical gold will find their gold increased in its ability to buy currency; that is gold will now be expensive in terms of all currencies. That is those holding gold bullion will have wealth increased.

          All peoples trying to purchase goods in fiat currencies will find the prices very high (high inflation)and will be poorer WHILE THOSE WITH BULLION WILL FIND THEY HAVE MAINTAINED OR IMPROVED THEIR WEALTH and buying power.

          (Where cryptos fit in this I’ll leave to others.)

          This is a scenario thought about by HSP.

          IMO it is not inconceivable for the average currency to lose another 98.5% from current values when compared to the price of gold. OR in USD terms to be 70 times higher than it is currently. What price is that? 1300 x 70 = 91,000 USD an ounce.

          When is a good question. Will we get a sudden reset or a drawn out process? I suspect a combination. A slow process with three or four sharp adjustments. The first such sharp upward jerk will happen soon. How soon is soon? Various commentators have estimated from 2 years ago, to the end of this year to sometime in the next 5 years. It will happen when the bullion market overcomes the paper market, and as HSP suggests, China and Russia hold the key to that Pandora’s box.

  39. Deco

    The state, in it’s wisdom (no sniggering down the back) has decided that we all MUST have energy smart meters.

    It is like as if the people must be controlled.

    But waste in the state itself is deemed to be morally justifiable.

    The ultimate irony here, is that with the most expensive electricity prices in Europe, people are alreayd away of the cost of electricity, and are trying to reduce it. In some cases, choosing some very carbon polluting options to reduce it.

    This is, once again, a mandate to waste the people’s money, on a task that amounts to wreckless interference.

  40. Deco

    The number one reason why there is a problem in housing supply, is the 4 Dublin local authorties, which are deliberately making the problem. The primary objective is not to enable the housing market to function, but to make the housing market serve their needs – by ensuring that there is a shortage, and people are then turning to the local authority for help.

    They are the source of the problem.

    Dublin has the same footprint as Berlin, and 1/3 the population. And less even less parkland than Berlin.

    Dublin – HOW NOT TO PLAN A CITY.

    • Grzegorz Kolodziej


      “4 Dublin local authorties, which are deliberately making the problem” – it’s interesting that in the latest competitiveness index, where Ireland slipped once again, to 24 place – the bottom of the Europe (only Italy and Greece are worse – France is 22), bureaucracy was identified as one of the three biggest obstacles – others were taxation (to pay the top income tax, you to earn 4.5 times more in the UK) and infrastructure (reminder: after decades of EU subsidies, Dublin has 2 tram lines that don’t connect – Warsaw built over 40 (forty) without any EU subsidies.

      How do the poor Australians survive with just one housing authority for the whole country? Surely their homelessness problem must be much worse than ours, considering that we have a housing authority almost near every pub! (+NAMA, +local councils housing levies up to 40,000 – yes, there is one council who takes that much not that far where Mr McWilliams lives (I think that it’s in Dun Laoghaire were they value bless the locals with such levy).

      But but but

      On the other hand, many foreign tourists passing through Poland think that Poland must be a country richer than Ireland if people live in such houses in the countryside. Well, of course, it is not – so how come these people have such house?
      Guess what – they design them and build them THEMSELVES. Not architects, but every effing person in the village – all family helps in building the house (this goes for villages only) AFTER work or DURING HOLIDAYS – including kids that are 12 years old.

      And I’ll tell you more – there was a chap in Ireland who did the same and it cost him only 25,000 euro to build a house for his family.

  41. Truthist

    @ Deco,

    Especially for u ;
    Because I have long noted ur keen interest & constantly developing knowledge of solutions for housing, & more.

  42. mcsean2163

    Great post David. Hopefully someone in authority is listening to you!

    • Truthist

      Those is authority — especially Revenue Commissioners — who are listening will now be very convinced that most of jet-setting David’s substantial & ever accumulating wealth is tucked away in trust funds etc. outside of Irish State.
      Obviously, David already owns his own home.
      And, most reasonable to presume at this stage that he also owns whatever other property he controls in Ireland.
      If he was smart, he would have made the case for “NO PROPERTY TAX ON IRISH CITIZENS”.
      Then the Revenue Commissioners would not be now more motivated to chase into all his assets.

  43. Deco

    The entire premise upon which state policy and administration has been a lie for 25 years.

    And that lie is that by running a system that is inefficient, unaccountable, consensus driven (at the behest of defined vested interests), and obedient, is a recipe for success.

    Actually, it is a recipe for considerable failure, ineptitude, debt accumulation, and failure.

    And the media, has repeatedly, told the people that the problem is insufficient statism. And they have sold this on the basis of a dishonest morality. Actually, this is the inverse of the truth.

    Establishment Ireland, has proven itself capable as a garrison, and as a parasite. But it has failed at providing sovereign independent thinking. In fact, it has even ran behind a nEU imperial standard, to absolve itself of the need to expend any intellectual effort required, to run a soverign country.

    We see this repeatedly.

  44. Deco

    I propose a Republic of Responsibility !!!

    People can make their own opportunities. By hard work, not by welfare. And definitely not when there are oligoplies, rampant disinformation, and a set of social mores reinforced by the media, which demand an obedient, underperforming, gullibel populace.

    • Truthist

      Life is increasingly complicated ;
      And, to deal with it we must increasingly simplify accordingly.
      And, that paradoxically involves pursuing many complicated fields of knowledge so as to be able to become wise as how to recognise :

      the pernicious elements & put them in overall context
      the flawed but not necessarily pernicious elements, & put them in overall context
      the merits [ if they exist at all ]
      The Frankfurt School of Social Science Engineering encompasses many of the destructive fields of knowledge dominating society today.
      Each has 1. & 2., yet persist to seduce with claims of 3.

      So, how to bring about a society where the people :

      are able to be increasingly self-sufficient ?

      can make their own opportunities by hard honest work & not by welfare ?
      Ironically, for those on the Dole to have a fighting chance of fulfilling these challenges, it will mean that they actually engage in doing nixers.
      Waiting for a good “free” government academic course & training course — even though some individual teachers & trainers are excellent — is not workable given the creepy way that whole government programme is administrated.
      The Establishment in their roguish way will be delighted to procure a set of accomplished liars to steal the following clauses from ur 2 main posts just prior to this reply & then be “facilitated” with being voted in by comfortable majority so as to cynically employ them bereft of their context in ur overall worthy proposal mentioned thus far & actually escalate what the Institutional State are doing all along :
      “The entire premise upon which state policy and administration has been a lie for 25 years.
      And that lie is that by running a system that is inefficient, unaccountable, consensus driven (at the behest of defined vested interests), and obedient, is a recipe for success.
      Actually, it is a recipe for considerable failure, ineptitude, debt accumulation, and failure.
      I propose a Republic of Responsibility !!!
      People can make their own opportunities.
      By hard work, not by welfare.”
      For ur convenience, I again show some of these ever-increasing nefarious Implications here ;
      Government SS Photo ID Cards + associated SS Databases — mandatory or compulsary — are sinful to mandate for Irish society ;
      And, even more sinful when Irish running the local Garrison.
      Put an Irishman on Horse-back ;
      And, he will ride to the Devil.”
      Authoritarian Left & Authoritarian Finacialists / Right & Authoritarian Liberals are relishing the SS Photo ID Cards + SS Databases.
      Not even a whimper from Sinn Fein about it.

  45. Part of the way to monetising silver coin is to have no printed value on the coin but to allow the value to freely float. Such is already the legal tender coin , the Mexican libertad.

    “While most world bullion coins have a nominal currency value the silver Mexican Libertad does not carry a stated face value. Rather, the legal-tender coins have a floating value that is quoted on a daily basis by the Banco de Mexico and is based on the coin’s silver spot market value.”

    Meanwhile the Mexican congress debates


    “”But the big headlines, the “news” that is shoved down our throats doesn’t actually have to do with real life. It is all distraction. The news is just full of memes meant to elicit an emotional response and corral our behavior into one of a few pre-determined pens.

    The point is, most of the things happening in politics and the media are basically theater. It is a soap opera or a reality tv show. What isn’t outright fake is highly stylized and organized into a performance. It is meant to distract, to keep you preoccupied. Instead of identifying and solving real problems in your own life, you are supposed to become overwhelmed, hopeless, scared, and take no meaningful action.”"

  47. Truthist

    Brief Research on Internet
    Normally, a piece of property can be easily classified as either personal property or real property.
    The difference between the two is usually fairly straightforward.
    Fixed Property / Real Property / Immovable Property

    Immovable property is an immovable object;
    An item of property that cannot be moved without

    destroying it


    altering it

    Essentially, Land, & Fixed Buildings

    Property that is fixed to the earth


    Movable Property / Personal Property / Chattels
    Items whose ownership belongs to the individual.
    Tangible ;
    Intangible ;
    Currency ; incl. Cyber Currencies / Crypto Currencies
    Money ; i.e. Gold, & just-about … Silver 8-)
    Right to a Benefit
    Shares or Stocks

    “Intellectual” Property ; incl. Ideas … 8-)
    Property includes Person [ vis. "Natural" Person ; Not "Legal" Person, e.g. Company ] ?
    Is the real President of USA really a Woman ?
    Is the Puppet-Master President of USA really a Woman ?
    Is Jared Kushner really a Woman ?

    • Is Jared Kushner really a Woman ?

      A Yellow Journalistic headline.

      • Truthist

        Please explain ;

        That which I link is featuring across the internet about Kushner being listed as a woman in official registers.

        I do not know for what exact purpose.

        But, the Kushner family are crooks.

        U know about Daddy Kushner ?

      • Truthist


        Yellow journalism, or the yellow press, is a US term for a type of journalism that presents little or no legitimate well-researched news and instead uses eye-catching headlines to sell more newspapers. …
        The term is chiefly used in the US


        However, there appears to be more to Kushner on this angle than what u witness here ;

        There is more …


        U do know, by the way, that Obama is a homosexual ?

        And, reliable sources are sure that Mrs. Obama is really a man ?

        And, that their kids are then not their kids ?

        Heck, various scenarios like this is common now in most societies around the world today.

        All levels too.

  48. Deco

    Trump unveils his tax plans.

    Macron unveils his tax plans.

    Boris Johnson also has tax plans.

    Leo Varadkhar has rugger plans.

    Madness !!!!

    We have the idiot who presided over the Noreen O’Sullivan debacle, and an entire series of Garda sagas, in charge of the Department pf Enterprise. Her response was completely inadequate. It was highly superficial. And completely inadequate.

    She responded to every crisis with a PR offensive. And fixed absolutely NOTHING.

    I presume that Fitzgerald, will respond with an appropriately phrased PR statement, as we sink again.

    The people who are supporting the failing institutional state can NOT carry this farce any much longer.

    At this point in time, Ireland is more likely to have a silly (expensive) spectacle involving grown-ups chasing a plastic oval ball around in 2023, than having Intel.

    The import thing (as we keep getting told) is that we “send out the right message”.

    Just wondering – but does having a bomb-maker in the Dail “send out the right message” ?

    Meanwhile, Mary Lou McDonald (next SF leader) has indicted that in deed (if not yet in words) that the next general election will be a contest between FG (inept, superficial) and SF (extremely corrupt, and law breaking). The fringe left (who are attacked by the Irish Times because they take seats from the preferred “Labour” Party) are going to be squeezed by SF money, and SF weight. The same newspaper neglects to tell us what SF stand fo – because it is frighteningly close to what a lot in the newspaper themselves advocate, in their Dr. Jerkyl & Mr. Hyde approach to just about everything.

    Institutional Ireland is sitting on a volcano of debt, a myriad of inefficiencies, and a range of pretenscious illusions propped out by the Irish media.

    Trump is pulling at the rug. Macron is pulling at the rug.

    And Frances Fitzgerald is drafting a PR response.

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