December 20, 2017

Why Ireland's growing economy isn’t making you richer

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One of the oddest things happening in the Irish economy is that unemployment is falling quickly but income-tax receipts are not rising in tandem. The Government is confused. When employment rises so should income tax. So why isn’t this happening?

 

A few weeks ago, I was on the early-morning Air Canada flight from Havana to Toronto, and I noticed that virtually all the business-class seats were occupied by Chinese businessmen. This is now a familiar sight on international flights. China is wrapping its arms around the world.

 

Chinese merchants sell cheap consumer goods to Cubans, who buy them with hard currency earned in Havana from Canadian tourists. Some of that money goes back to China, where Beijing uses some of the money to invest in infrastructure back in Cuba, thus buying China political influence as well as market share.

 

Some money stays in Canada, where the Chinese are pushing up the price of real estate as they buy apartments on Toronto’s lake shore – a personal insurance policy against China lurching back to old-fashioned communism.

 

A Canadian sitting beside me on the flight chatted about her country: how everything was so expensive now in Toronto and how her salary didn’t stretch any more. She couldn’t figure out why that was, because Canada was booming, yet she felt she was going backwards.

 

She is not alone. This is a typical conversation all over the West. How many times do we hear people in Ireland ask, “If things are going so well, why am I not feeling it?”

 

Could there be a connection between the Chinese businessmen on the Air Canada plane and the fact that people in Ireland feel they are struggling to keep up?

 

In the past few years we’ve seen strong economic growth, yet the feeling of prosperity for the average working person remains elusive. In contrast, the extremely wealthy have taken a disproportionate amount of the goodies. This disparity between headline economic rhetoric and everyday social reality drives populism –particularly in the US and the UK – at the ballot box.

 

Voting in protest against the establishment is a bit like telling your boss where to stuff his job. You know it’s probably not the cleverest thing to do, but at the time it feels great.

 

But rage is the weapon of the powerless, not the powerful. And the powerlessness felt by the average voter stems from the reality that, over the past 20 years, wages have been slipping back constantly relative to profits.

 

In any economy, the goodies are roughly divided between wages and profits. When something is sold the income goes to workers, in the form of wages, or to the people who own the company, in the form of profits. If people are more productive their wages go up. At least that’s the theory.

 

In practice, something different is happening. Irish workers are generating huge amounts of income but getting only a fraction of this in wages.

 

The accompanying chart shows Irish productivity per worker and real wages over nearly 60 years. From 1960 to 1990 wages and productivity went hand in hand.

 Productivity vs. Real Wages

In fact, for 30 years wages were a bit higher, meaning profits were lower. This goes some way to explaining the very fragile state of corporate Ireland up to 1990.

 

But around 1994 Irish workers’ productivity takes off, while wages just tip along, always increasing but never by much. The gap between Irish productivity and wages opens up dramatically. That gap is part of the reason why the economy is posting stellar numbers but we don’t feel it.

 

Since the 1990s multinational corporations have driven up Irish income by enormous investment, using fewer and fewer workers to produce more and more stuff. The more capital the largely American firms deploy in Ireland, the more they export and the more productive the workers who work in these plants become. Because the volumes produced are so huge the multinationals have distorted productivity.

 

In Ireland, the huge housing boom-bust-boom has led to income from property, such as rents, rising more quickly than wages. This, too, makes people feel left behind

 

Meanwhile, in the past 25 years, central banks have worried about inflation more than growth, and therefore each recession has been taken as an opportunity to wring more inflation out of the system.

 

In plain English, this means that the worker pays. In a recession, unemployment rises and wages fall. When the economy turns and the worker gets up off the canvas, he does so at a lower real wage than before. This outcome is policy-inspired wage compression.

 

In addition, technological disruption has made workers cheap all over the world. And this is where our Chinese friends come in. Technology allows companies to scour the world for cheaper workers, and therefore the cost of labour around the world has converged.

 

Granted, certain professions have done well as a result of technological change but, on average, wages have been kept in check by competition.

 

The global supply chain means that the global pool of workers, rather than the national pool, sets the national price of labour and therefore wages. You could say the labour force has been “Uberised”.

 

When local workers lose their jobs because the jobs have migrated somewhere else, those people try to get other jobs. Typically, they slip backwards into jobs that are less well-paid, because they still have to put bread on the table. This puts further pressure on lower-skilled jobs, explaining Ireland’s conundrum. We are creating jobs but at wages so low that these workers aren’t paying income tax.

 

Societally, this global process leads to more inequality between citizens who depend on wages for their income (the vast majority) and those who depend on rents, dividends and assets (a small minority).

 

Politically this drives populism, as disenfranchised workers might not have good wages but do have legitimate votes, and the ballot box gives them the possibility of revenge.

 

In 2018 this conundrum is not going away.

 


    • Metropolitan Hillbilly

      Adam I’ve read avidly about your interest in bitcoin over the years. While I have zero understanding of the
      ‘blockchain’ or related technology my understanding is that it’s essentially an honest ledger secured by code. My question is that if the US dollar is secured by cruise missiles and US military might what exactly secures bitcoin from attack by forces hostile to its existence?

      • Antaine

        Subscribe. :-)

      • Ridiculous ‘question’.

        You’ve merely made your own spurious statement.

        • Metropolitan Hillbilly

          Do you really think the USA will cede control of the world’s reserve currency and allow their hegemony to be challenged?
          If China ever succeeds in replacing that existing hegemony do you think they’ll cede control to what is essentially a technology? All technologies have been created by mankind and therefore can be defeated by mankind. Throughout history all currencies have been secured and underpinned by force of arms. The question of a challenge to US hegemony has already been answered with just two words.

          Saddam Hussein.

          • Paul Williams

            Saddam’s problem was that he was centralised so easy to attack with guns and bombs.
            Now if he was only Decentralised…. multiple perfect clones of Saddam in multiple locations, he would be still around…. right ;)

          • Muammar Gaddafi

            Bashar al-Assad

            et al

          • Grzegorz Kolodziej

            Decentralisation of cryptocurrencies doesn’t matter if the state can take block your access to your decentralised Bitcoin. The Arpanet (forerunner of the internet) example you brought up only confirms that – look how easy did the Chinese authorities block access to decentralised internet.

          • Don’t be daft Grzegorz, it takes less then 5 minutes to get around any Chinese ‘blocks’. I have an English mate in Shanghai who is not very computer savvy and I got him around any ‘blocks’ with ease. He’s out there teaching English, going to see him in 2018.

          • Grzegorz Kolodziej

            Yea, I know – but you forgot to add one thing, Adam: that being illegal and China being China, they can then come and arrest you in the following 5 minutes as they did with 15,000 people. Then they can utilise you for organs – ever wondered why you can find an organ donor that matches your needs 24-48 hours for transplants in private hospitals in China as opposed to a few months in the West, even in the most expensive hospitals?

            https://qz.com/1063073/in-china-you-now-have-to-provide-your-real-identity-if-you-want-to-comment-online/

          • I was waiting for your ‘illegal’ comment Grzegorz and here it comes like clockwork.

            We all know you love following the rules and laws, you’re a very obedient person, they taught you well in communist Poland.

            Other less risk-averse people will go further than you in pursuit of freedom so they will never be able to shut out everyone in Chine, not do I imagine they really want to.

            Laws are there to be challenged by any means, not blindly followed.

          • Grzegorz Kolodziej

            Very well, Adam. Why don’t you tell this to your friend in Shanghai? Tell him to run a blog – or even comment here – whereby he would criticise the Chinese government and tell the truth about what they doing. Then we can see if it’s really such a doddle to circumnavigate the internet censorship in China. Why stay quiet about it? He is not obedient and risk-averse, is he? And when in China, go to the main square in Shanghai and put a “Free Tibet” T-shirt on you; then send me a picture.

          • Why on earth would he bother doing that?

            He just wants to get on with his private life and business – and is doing so.

            You’re off your rocker sometimes Grzegorz haha.

            Best wishes.

      • Paul Williams

        Ans: Decentralisation.

        Same as the underlying internet protocols were designed to do….. survive a nuclear attack or loss of a major chunk of the infrastructure of the network.

        “According to Stephen J. Lukasik, who as Deputy Director and Director of DARPA (1967–1974) was “the person who signed most of the checks for Arpanet’s development”:

        The goal was to exploit new computer technologies to meet the needs of military command and control against nuclear threats, achieve survivable control of US nuclear forces, and improve military tactical and management decision making.[37]
        The ARPANET incorporated distributed computation, and frequent re-computation, of routing tables. This increased the survivability of the network in the face of significant interruption.”

        • sean_the_lepreachaun

          Is this discussion not a bit off topic? Can someone please explain how this relates to the article?

          • Paul Williams

            absolutely right… not relative at all

          • Grzegorz Kolodziej

            1. It’s related to the previous article, and as David didn’t deign to put it up on his blog (I guess he was scared of bloggers’ reaction, as he was very negative on cryptos), he’s having this discussion here.
            2. It’s related to this article too – due to near-zero interest rates and QE, the financial capital, instead of going into manufacturing (so consequently wages), is misallocated into speculations and pumping bubbles, Bitcoin being one of them.

        • Metropolitan Hillbilly

          I get your argument regarding decentralized control and it’s benefits for making a system anti-fragile. But the launch codes are invested and under control of one man regardless of that decentralisation. There aren’t thousands of Trump’s with access to launch codes and that may not be a bad thing. My point is that bitcoin lacks a key element of currency which is the ability to enforce it’s use in a specified territory.
          The relevance of this to the above article is the projection of power (the Chinese businessmen David referenced) a key component of which is ensuring wealth is exchanged using the currency of the powerful.

          • sean_the_lepreachaun

            Still not sure I see the relevance. The article is about the gap between productivity and wages, and what is causing it. Namely, the ability to move jobs overseas to cheaper markets is acting to suppress wages in the developed world; “In addition, technological disruption has made workers cheap all over the world. And this is where our Chinese friends come in”

            Are you saying that Bitcoin (and other cryptocurrencies) are the solution, or are going to make things worse, or an irrelevance (making this discussion irrelevant)? I don’t know what you mean by the “currency of the powerful” either. Surely the poor and the wealthy share the same currencies.

          • Grzegorz Kolodziej

            “or are going to make things worse” – are going to make things worse, as they are a step to cashless society = total control of the state

            Right now, only an idiot/crook can claim that Bitcoin is anonymous

  1. Mike Lucey

    Crystal clear David, bravo! Even The ‘confused’ Government should be able to ‘get it’ on reading your article.

    But what’s the solution or solutions?

    • Not a word about borrowing to support lifestyle and the accumulating debt.

      Being downtown and stopped at a traffic light one gets to see the people on the street, or at least crossing the road. Observe who they look. Few where smart well designed and cut clothes. Most are clothed in what looks like worn out basket ball tracksuits. That is the cheapest cloths available. Also observe their snacks in hand. mostly cheap processed packaged items. Then the obligatory drink(8 pints of liquid a day) and one sees expensive coffee or a sugar laden bottle of slurpee clutched in hand.

      Poverty approaches or has arrived.

      Worker productivity may have improved in monetary terms but what about in terms of units produced and sold. I’ll bet that is static or declining. This is the result of calculating the economy in depreciating currency values. We do not measure with a standard but with a fluctuating value that is in general depreciating. This is the obscured marker of inflation. The stealth tax that robs us all.

      What to do Mike? Reform the monetary system and stop the promotion of financial assets. Get rid of the central bankers and the debt laden money system. Get rid of the attendant interest burdens. Free the people with an honest monetary system. Until done there is no other solution to any of the problems.

      • Excuse spelling and grammatical errors, please. Thanks.

      • sean_the_lepreachaun

        Some interesting points you raised Tony.

        I presume the productivity measure is simply GDP / working population but it would be good to get clarity on this. And by extension, average wage is Total Pay / working population. If the denominators are not the same then it’s not a fair comparison I would say. David might be able to provide more clarity on this. To your point, they’re both monetary terms of the same currency so they should be comparable.

        As you can see from my other post, I agree on your assessment of the promotion of financial assets. I must admit though, I’m rather afraid to have a system that removes all central bank interference. I just think their interests need to be aligned with the people’s interests, which is not reflected by the current metrics being used.

        • http://www.thedailybell.com/news-analysis/why-governments-treat-you-like-a-number-not-an-individual/

          Least interference is the best result overall.
          Mandatory and manufactured interest rates by central banks do not reflect the market place.
          Thus the bond market is in a manufactured bubble, not a free market.
          Monetary and direct interference elevates the stock markets to all time highs. Not a free market.
          Rules and regulations of all aspects of our existence cause manufactured results. Not a free market.

          It is hard to point to where there is a free market except the Cryptocurrencies to date.

          One cannot blame the “Capitalist System for the coming or present debacles as it has not been free to operate for many a year.
          We have a command economy in practise and so we see the resulting distortions.
          There is no such thing as a free market–Chris Powell, GATA c.2014

          • sean_the_lepreachaun

            I agree there very little in the way of examples of a truly free market. However, I would disagree with the concept that a free market is the best approach for all situations, even it’s the most efficient and interference free way. So this might be ideological difference between us.

            I believe free markets create winners and losers. And there are some people who need protecting from that for a variety of reasons. Insofar as a truly free market being applied to currencies, as you say, Bitcoin is a new experiment so the jury is still out for me. I think in the long run it might end up like Napster – in itself a failure but the concept revolutionized how music was sold for good. Could be the same for currencies.

            However, just because interest policy isn’t benefiting the working classes through misguided policies more than anything else, doesn’t mean the current system needs scrapping and replaced with a free market approach. E.g. after Black Monday circuit breakers were introduced to stock markets. I think these are a good thing and are contrary to the free market.

          • Grzegorz Kolodziej

            “I think in the long run it might end up like Napster – in itself a failure but the concept revolutionized how music was sold for good. ” – exactly

    • sean_the_lepreachaun

      Here’s my go at potential solutions. Please let me know what you think:

      More permanent solutions:
      Barriers. Trump style barriers to stop jobs moving to cheaper locations. An attempt to end globalization. I think this would be the dawn of a new age for the smuggler though. And it would create division between nations which is never good

      Or ride it out for generations until the world’s economies all align and there’s nowhere left to go for cheap labour. I’ve a feeling that would be a very long time coming, certainly multiple lifetimes.

      None of these are nice, and I can’t think of a third option.

      Short term light relief:
      I wonder (David might do it) if you graphed interest rates versus inflation, you’d probably see a de-correlation over the last 20 odd years. It’s not working. Driven by much of what David said. In a static world, low interest rates means increasing inflation. But in a world that keeps changing and pushing for cost reductions an “efficiencies” (cheap labour), central banks are urinating against the wind trying to get inflation back I think.

      Perhaps it’s time for central banks to stop using interest rates to manage “inflation”, or to try and measure inflation in a more “static world” way but not sure how they’d do that (accounting for “size-flation for example”).

      Or perhaps they could become more concerned with the divide between worker’s income and income from assets which would politicize interest rate setting again. Quantitative easing and low interest rates favours the latter immensely. All the while making workers pensions less affordable and providing low returns for workers who save or like to invest safely.

      • sean_the_lepreachaun

        Sorry for the avoidance of doubt, the “latter” being “income from assets”

      • Grzegorz Kolodziej

        “Barriers. Trump style barriers to stop jobs moving to cheaper locations. ” – that would only work if there are manufacturers to replace outsourced products; there won’t be many of them if due to low-interest rates it’s better to speculate on things like property or cryptos than invest in manufacturing.

        A better part of Mr Trump’s plan is tax cuts and his plans to stop the Chinese from a massive intellectual property theft and espionage they have been engaged in (due to theft, they don’t have to bear the cost of R&D).
        That might create the preconditions for the manufacturing jobs to come back.

  2. The hidden stealth tax is inflation. In the US at least and probably elsewhere the rigged stats show low inflation. The real rate is 5 times higher. That is correct. 10% and not the 2% posted. That means prices are doubling every 7-8 years. Incomes are doubling every 25 years.
    Financial assets and housing are doubling faster than the 10% inflation rate. Thus those in financial assets are hanging in while the rest are drowned, economically speaking.
    The “rich” get richer and the rest poorer.

    http://www.shadowstats.com/alternate_data/inflation-charts

    the increase in the money supply tend to mirror the actual inflation rate.

    http://www.shadowstats.com/charts/monetary-base-money-supply

  3. In the US, GDP has actually been in decline for 15 years. The EU will be little different.

    http://www.shadowstats.com/alternate_data/gross-domestic-product-charts

    • sean_the_lepreachaun

      I wonder what David’s graph actually shows. It would be good to get clarity.

      I assume it’s GDP / working population. So if GDP is actually stagnant as you suggest, it would imply that the working population is in decline.

      Also, I wonder what measure of “productivity” is being used. Is it the same lepreachaun economics metric that said Ireland’s economy grew by 26% in a year?

      • The US working population is at the lowest percent of the total in 40 years.

        • sean_the_lepreachaun

          I would undoubtedly agree. It’s a feature of most developed economies with low birth rates for decades and more pensioners than ever before (bar Ireland actually which still has a high birth rate). But this is a PERCENTAGE, so it’s only in relative terms. Overall the population has been increasing and so has the working population:

          https://fred.stlouisfed.org/series/LFWA64TTUSM647S

          So if GDP is not growing, and the working population is increasing, then GDP / working population must be DECREASING rather than increasing. So this is contrary to David’s graph. Something isn’t adding up here.

          • Grzegorz Kolodziej

            This graph is completely irrelevant as what is relevant is not an increase of working population in absolute terms, but a ratio of people being born to people dying, and a ratio of working to pensioners – and these two have been in a massive decline in the West, and due to the effect of a one-child-policy, in China too.

  4. http://theeconomiccollapseblog.com/archives/the-washington-post-says-that-fedcoin-will-be-bigger-than-bitcoin

    “”The one thing that could derail the cryptocurrency revolution faster than anything else would be interference by national governments or global central banks. Unfortunately, now that Bitcoin, Litecoin, Ethereum and other cryptocurrencies are getting so much attention, it is inevitable that the powers that be will make a move…………..

    This is a revolution that has the potential to completely change the global financial system, but I have a feeling that global central banks will never let it get that far. The current system funnels literally trillions of dollars to the very top of the food chain, and the elite are going to jealously guard their golden goose.”"

    Yet another reason to fire the central bankers.

  5. Sprott Asset Management echo the same sentiments.

    “We believe the corporate focus of Trump tax cuts is misguided for two reasons. First, lowering corporate tax
    rates will only exacerbate the economic stratification already plaguing the U.S. economy. As shown in Figure 1,
    above, corporate profits as a percentage of GDP hover near all-time highs precisely as wages as a percentage of
    GDP have dwindled toward historic lows.

    http://www.lemetropolecafe.com/IMG2017/Misc/Sprott%20Institutional%20December%202017%20Strategy%20Report.pdf

  6. martino

    Not only is work paying relatively less, it is also gettier nastier. Conditions get worse and workers are kept in a state of fear, knowing they have to keep working to pay all the bills. Even the educated now can only hope of a house-share somewhere. There’s lots of very unhappy workers in the lower end of the service economy and they’re just about making ends meet but it’s costing them dearly in terms of health and happiness. Collectivey, this is very bad for the national morale. There seems to be a general sense of hopelessness in the land-this Christmas seems strangely muted.

    The rising cost of accomodation shows how out of control things are and this is stoked on by mass immigration. I don’t like to sound pessimistic but it looks as though free market capitalism is trying to choke the very last penny out of itself. Disengag

    • Grzegorz Kolodziej

      “though free market capitalism is trying to choke the very last penny out of itself. ” – what you have in housing is the opposite of the free market capitalism as you have:
      1) artificially low-interest rates fueling property speculation
      2) zoning
      3) rent allowance system that fuels property speculation, prices out the working poor and ultimately only enriches the landlords via money transfers (besides, there are many millionaire landlords in Ireland in receipt of rent allowance)
      4) height restrictions
      5) the unholy union of developers, banksters and trade unions who forced the model of spreading out commuting estate, putting 2 million people in an area that Greater Tokyo out 32 million, and in better living conditions too.

  7. martino

    Apologies, I think I pressed the return key by mistake. I meant to add that disengagement might well be the best option in the long run.

  8. goldbug

    “You could say the labour force has been “Uberised”.

    @DAVID

    WHY OH WHY OH WHY

    WHY ARE WE ASKED TO VOTE ON

    -> HOMOSEXUALS AND MARRIAGE

    => MURDER OF THE UNBORN!

    .
    .

    -> THE UBERISATION OF HUMAN LIFE?

    -> FIRST THE BODY THEN ITS SOUL?

    .
    .

    SOROS MINIONS KEEP PUSHING

    -> FOR WHATS LEFT OF christian IRELAND

    -> TO MURDER ITS UNBORN CHILDREN
    .
    .
    .

    -> ABORTION = A CLEVER SATANIC TRICK?

    -> ORWELL NEWSPEAK

    -> CALL MURDER BY ANOTHER NAME

    => AND TO SOME IT SMELLS LIKE ROSES

    .
    .
    .

    -> THIS VIDEO HAS HEALTH WARNING ATTACHED

    => BUT ONLY WATCH IF YOU BELIEVE ABORTION IS A RIGHT

    -> I WOULD NOT WANT YOU TO BE MISINFORMED

    => AND BECOME PART OF THE SAVAGERY.

    https://www.youtube.com/watch?v=DSiFQE0ZnVI

  9. SLICKMICK

    Is Dublin the only city in Europe that allows rickshaws to be operated without any regulation?Limitless immigration is driving house costs to increase by ten per cent per annum, yet this is never mentioned by the pc media and charity industry. Property prices in Dublin have increased by a multiple of seven post 1990.Post Brexit the only border will be that imposed by the EU.Leo and co will have lots to explain.Why do so many countries have visa free access to Ireland? Ireland takes the south Americans and Africans nobody else wants. No wonder so many adults live with parents. If sterling sinks further it is end of the road for the likes of Leitrim and Donegal.Without a deal on services, the Uk will Brexit super proto.

    • Grzegorz Kolodziej

      “Limitless immigration is driving house costs to increase by ten per cent per annum,” – that however doesn’t explain why countries with similar rates of immigration like Germany didn’t experience the ten per cent per annum house costs increase (in fact, until very recently, the house prices there have been flat or decreasing, and are still 1/4 – 1/2 of Irish prices (depending on the location)

  10. michaelcoughlan

    The article only explains one half of the problem.

    The other half is this;

    The govts of the western world have been operating budget deficits for decades. This gap has been closed with borrowed funds. These funds have to be paid back in taxes on citizens.

    The govts are looking at the same graph and are concluding that taxes must be got from wealth taxes since income taxes are stagnant or falling. These taxes must be paid whether the citizen has income or not.

    Add these taxes to the increased burden of taxation resulting from the constantly increasing money supply with it’s corresponding increase in govt bonds issued and you have a much clearer picture!

    A slow burning asset strip on the citizens of the western world!

  11. Financing State Contributory Old Age Pensions has become more difficult because more contributors will be paying the minimum PRSI ( nothing ) amount due to very low wages and only fewer will be paying more . So less monies in the State coffers to pay the increasing numbers retiring.

    Poverty cannot finance Old Age .

  12. Marx’s Theory of Surplus Value.

    The workers are being robbed, plain and simple.

  13. terence patrick hewett

    Oh! that wicked Populism: saints preserve us….

  14. KryptoK9

    Hello folks, Andy Mooney here.

    I just wanted to pop in and wish you all a very Merry Xmas from ye olde Englande. I had a lot of fun ranting on this blog over the last decade whilst decoding the gibberish of conventional economics. I don’t follow the discussions these days as they don’t really track the real emerging issues around crytocurrencies, cultural cryptography and really exciting stuff like The Graphene Era.

    I’ll comment briefly on the article as I’m here…

    Sensible observers see the rapid escalation of various innovations which will render the ‘worker’ mostly redundant in huge swathes of the conventional economy. For as long as they are enabled by corrupt politicians the rentier class who have always strangled Ireland (& most other countries) will carry on, until the music stops with the onset of the next Global Financial Crisis. Income tax cannot be levied on those whose meagre earnings no longer allow them the necessities of life and who are fooled into believing their ‘benefits’ and ‘rent assistance’ are a benevolent gesture to aid ‘the poor’, when they are given only to protect the bank ponzi loans against property. A farce which is once again in full manic mode in Ireland. At some stage it will all collapse again, worldwide, and then sensible discussions about things like Universal Minimum Income can begin.

    I haven’t see a single serious discussion of cryptocurrency and blockchain innovation on this blog (other than from young Adam!)…it’s almost as if there’s been an instruction not to discuss the cataclysmic upheavals of 2017. But who is instructing that silence be adhered to? And why? And why is there a similar mute avoidance from the rest of the mainstream media in Ireland? All very curious!

    Anyway, enough! It was a gas, *lads*. Live long and prosper and who knows, I might bump into some of ye if you’re in my fiefdom of Kilkenny for David’s little November shindig any year. I go there often. It’s a nice little city on the Nore. I got engaged there. Had a nice Italian dinner with some folk from this blog in 2013 when we rapped about Bitcoin. Funny how things turn out….

    besWe gotta fly, man!
    Wishing you all a Happy Brexmas

    Andy Mooney
    The Shire. Engerland.
    Winter Solstice. 2017.

    ‘This disparity between headline economic rhetoric and everyday social reality drives populism –particularly in the US and the UK – at the ballot box.

    Voting in protest against the establishment is a bit like telling your boss where to stuff his job. You know it’s probably not the cleverest thing to do, but at the time it feels great.

    But rage is the weapon of the powerless, not the powerful. ‘

    Erm…LOL! I think you’ll find that the UK voters democratic decision to tell the EU & their cabals of pseudo-’experts’ to shove it was evidence of muscular power, confidence & forensic intelligence. The analogy is flawed. Nobody in the UK who voted for Brexit ever accepted a clown like Juncker was in charge so never had to say ‘you’re not the boss of me’. What they did was tell their corrupt politicians and their media fluffers to take a hike. Democracy by definition is ‘populism’ as opposed to the arrogant elitism of ‘experts’ who now find themselves either ignored or ridiculed constantly as they rehash and regurgitate their banal profundities and warnings of apocalysmo direness. Brexit isn’t about ‘rage’, it’s about rebirth: the rebirth of an authentic British culture that has the confidence and humour to remorselessly debunk the failed nostrums of the EUropean high priests of Globalism Via Neoliberal Economics.

    • KryptoK9

      Andy Mooney: The once & future King of Laois & Small Heath

      King of Laois – Dan Ar Braz (Vérsion live)

      https://www.youtube.com/watch?v=zSUWR9w1gRk

    • Grzegorz Kolodziej

      “I haven’t see a single serious discussion of cryptocurrency and blockchain innovation on this blog ” – there have been raging serious discussions of cryptocurrency and blockchain here – you’ve just missed them all…

      • KryptoK9

        I was noting the fact that David McWilliams hasn’t written an article specifically addressing this topic. Ever.

        I have been aware of the BTL (below the line) discussions. Given the interesting gyrations today, perhaps an article will be forthcoming.

        I trust this reply is helpful to you.

        best

        Andy Mooney

        • Grzegorz Kolodziej

          It’s very mysterious all right that when the first ever BTL article is premiered by the Maccer (curtains go up, fanfares, ballet dancers leap from one side of the stage to another), it is not put up on the blog. Delays did happen in the past but they were followed by putting up 2 articles at once – never the newest first and the older later. So I’d say that maybe he wanted to avoid negative comments (frankly speaking, I was looking forward to Adam’s polemic) – other than that I really don’t know why hide it from the mankind.

          • Do you mean the article about cryptocurrencies on the Irish Times Grzegorz?

            Well, I read it the other day on some other medium – it wasn’t about cryptocurrencies at all – I think he mentioned them for about 2 or 3 lines.

          • Grzegorz Kolodziej

            That one – going from bottom comments to top – hard to navigate.
            Yes, you are right, but he did mention them which is new and he did class them as a bubble which is sensational

          • Truthist

            David safely can be proved correct that every thing of value enters a “bubble phase” recurrently.

            Some do so naturally ;
            David’s argument is that all bubbles are natural [ incl. natural speculation by ... eh ... speculators of course ]
            Some causes of Bitcoin’s Ups & Downs are natural.

            Some do so by design ;

            e.g.s

            Some causes of Bitcoin’s Ups & Downs are by design
            Arguably by design so as to give it attention & credibility as alternative & paver of the way for ridding the world of national currencies.

            The Bankster Scam Bundle roll-over / theft by stealth of the remaining wealth that the G..ys have ;
            I came across figure of only 20 % the other day as to the amount of ownership that the G..ys have of world’s wealth.
            What’s thought of as the Economy Cycle is really a Roll-over Theft Cycle by Design.

        • “Given the interesting gyrations today, perhaps an article will be forthcoming”

          Doubt it.

      • Raging discussions by people who haven’t done the slightest bit of research and have minimal-to-zero technical knowledge, and perhaps not even the aptitude for anything technical either – no matter how much they read or how many times it’s explained to them.

        I must come on here some day blathering about Polish politics, I’ll just make the whole lot of it up = sure no one will notice.

        • Grzegorz Kolodziej

          Yet it wasn’t me who here on this blog advised people that NOW is the best time to buy Bitcoin – at the time when it was 1200 and it plummetted to 300 – it was you. Of course, a really knowledgeable people would have advised DMW readers to wait one year until it plummets to 300 and then buy 4 times as many…

  15. Mike Lucey

    Just watched Mike Moloney’s latest video,
    From Bitcoin To Hashgraph: The Crypto Revolution – Hidden Secrets Of Money Ep 8 – Mike Maloney
    https://www.youtube.com/watch?v=SF362xxcfdk

    Even though Mike Moloney is a gold bullion dealer he is also a cryptocurrency advocate of late. The video is very well put together and I highly recommend viewing for anyone that wants to grasp an understanding/overview of cryptocurrencies.

    He also delves into ‘Hashgraph’ which I found very interesting as I feel this new tech could well address some of the weaknesses in adopting and practically using cryptocurrencies.

    The final thought that dawned on me while watching the movie was that cryptocurrencies may well still be in the early stages of mass acceptance/use which bodes well for adopters that are willing to take a serious punt even at this stage.

    I bought a little Bitcoin back in 2014 when it was around €300. If I had bigger balls at the time and jumped in with both feet I would now be jumping out and heading to the Carribean on a permanent basis ;-) Of late (since 2008) I’m a firm believer in treating investments using the ‘cold shower’ approach.

    • 50 times as a gain is very worth the bragging rights!!!

    • Grzegorz Kolodziej

      “He also delves into ‘Hashgraph’” – many people in the crypto industry believe that Hashgraph will make Bitcoin’s blockchain completely redundant

      • Truthist

        Here is something very cynical about Bitcoin ;

        AND, BITCOIN TIES IN LOVELY FOR THE ORWELLIAN STATE ;
        PUSH + PULL ; THE BOTH OF THEM ON EACH OTHER.

        THE AUTHORITIES CAN KNOW ALL ABOUT UR BITCOIN THROUGH CIRCUITOUS ROUTES

        incl.

        Clandestine Biometric Cameras
        Tracking of ur phone

        THAT MEANS THAT STATISTICALLY FOR MOST BITCOIN OWNERS ;
        ==> THE AUTHORITIES CAN TAKE POSSESSION OF UR BITCOIN.

        http://tomatobubble.com/bitcoin_mania.html

        • Grzegorz Kolodziej

          Oh Truthist, Truthist… Why do you resort to such wild things like Clandestine Biometric Cameras when it comes to Bitcoin tracking, when the explanation is much more simple – IRS has officially admitted that it has been tracking Bitcoin owners (I mean their physical addresses, not just wallets) via a software called Chainanalysis. Cryptos are the most advertised thing ever, including on the mainstream media that are alleged to be anti-cryptos – and people still believe that they are against the power of the states? Oh naivety – look at what the Chinese are doing.
          I’m interested in cryptos only as a speculation.

          • Grzegorz Kolodziej

            Technically Chain Analyses’ software is called the refactor tool, but you get the gist. Apparently, monero is currently untrackable – all the more reason why it will be banned when the states/central banks make it official that they have been pumping cryptos as a way to cashless society = mark of the beast.

            Cryptos are the most globalist thing that has ever been. All discussions about them are child’s play if Metropolitan Hillbilly’s question from the top of the comments remains unanswered:
            “Do you really think the USA will cede control of the world’s reserve currency and allow their hegemony to be challenged?
            If China ever succeeds in replacing that existing hegemony do you think they’ll cede control to what is essentially a technology?”

            They are a bet, Truthist, like my first October 2015 bet on Trump at high odds was a bet – no less than that and no more than that.

  16. Meanwhile the left foes looney tunes about Trump.

    The tax Bill may get signed today. We will see how a refund of excess taxes payable allows people to spend their money any way they see fit. Some major corporations are announcing bonus cheques to employees and others increased wages.
    Will this stimulate the economy or just be used to finance more debt or to pay off existing debt. Still IMO a move in the right direction. Major problem is the huge increase in the annual budget deficit. This increases the national debt.

    The great reset cannot be far off where all this debt will be voided and never paid back. Beware for the bondholders. Pennies on the dollar is the followup to low interest rates and negative interest!!

    https://spectator.org/the-unsilent-coup/?utm_source=American+Spectator+Emails&utm_campaign=c1f95bc154-EMAIL_CAMPAIGN_2017_12_20&utm_medium=email&utm_term=0_797a38d487-c1f95bc154-104365713

    See which states are solvent and which not.

    https://mail.google.com/mail/u/0/#inbox/160760d36bf6429e

  17. May be Ireland’s economy is not making most richer is because the taxes are too high.

    Not one democrat supported this bill which gives billions back to working people.
    I guess if people help themselves there is no need for the welfare state. What a shame.

    https://spectator.org/the-democrats-stink-of-weakness-and-defeat-and-other-pre-christmas-news/?utm_source=American+Spectator+Emails&utm_campaign=9dea090dba-EMAIL_CAMPAIGN_2017_12_21&utm_medium=email&utm_term=0_797a38d487-9dea090dba-104365713

  18. Canada’s own working people champion just violate ethical standards. Apparently the first incumbent Prime Minister to do so. What a trend setter.

      • “Does this mean we have to make new travel plans?”

        Ethics Commissioner Puts Coal in Trudeau’s Stocking

        It appears Prime Minister Trudeau is on the naughty list, having become the first PM in history to violate a federal statute while in office.

        The charges? Four clear violations of the Conflict of Interest Act for family vacations on his billionaire pal’s private island. It doesn’t get more relatable than that!

        As for his deer-in-the-headlights response when pressed by CBC’s Rosemary Barton? Mr. Trudeau probably has a lot on his mind, now that he must face the headache of vacation planning within the rules of Parliament.

        Is there an island for our champion of the middle class?

        National Citizens Coalition

        http://www.nationalcitizens.ca/

          • My first trip to Canada is in a few days, looking forward to it. Just a couple of days in Toronto. What’s the best thing to see in Toronto Tony?

          • Grzegorz Kolodziej

            Oh, how germane that I am catching you, dear Adam. Merry Christmas for the starters, and secondly, I’m curious about your opinion on Ripple which I’m intrigued that they went for a centralised thing (I like contrarians), but on the other hand if the central banks adopt it then who knows (on the, so to speak, third hand, some say that when/if it becomes the next thing, Ripple cannot really be used as a speculation tool by individual customers for reasons I didn’t have time to research).

            Thirdly, I’m curious about your opinion about Iota, as I am really amused by the discrepancy between opinions (that it is a total scam to that it will replace the sliced bread).

            Fourthly, I just really wonder how this Bitcoin bubble will end up, being already bigger than dot.com and more overhyped/overadvertised than dot.com.
            Will it go to 100,000 before it goes to… ehm… like, zero?

            With all due respect, this is becoming one of the worst currencies that ever existed, with the growth of the fees nearly matching its “value” growth and speed transactions slower than carrier pigeons. Coinbase has, I think, the potential of becoming another Mr Gox. Not only it got temporarily suspended, but I even heard – maybe misheard – that some people got different cryptos than ordered.

            Given that this is Christmas, cryptos to skyrocket before 2020 are………..?

            Although if Bitcoin plummets, and I think it will, will it not be the case that despite Bitcoin’s diminishing share of the crypto market cap, all of them cryptos will plummet with it – as almost all of them skyrocketed with it?

            Your view on Siacoin?

          • Merry Christmas,

            I don’t know anything about Iota or Siacoin.

            I don’t have time to research all the cryptos – most of them will ultimately turn out to be worthless.

            Ripple will probably serve a fuction, it’s not something I’m interested in though.

            There was a downward correction of about 25% yesterday, but now it has regained about 10% of that.

            Frankly I am expecting a much larger correction in the near future – the whole market is over priced but on longer term the values of the best known cryptos will continue to rise and hit new heights.

            I didn’t use a crystal ball for this comment.

            I wouldn’t advise anyone on here to put money into crytpos especially someone as risk-averse as you are my Polish friend.

          • Grzegorz Kolodziej

            “especially someone as risk-averse as you” – why, would you not consider betting on Trump in October 2015 (nearly a year before Mr McWilliams predicted (sort of) that Trump would win – risky? Trump wasn’t even nominated then, and Cruz was leading among the Republicans.

            “I don’t have time to research all the cryptos ” – I understand it: I thought that you dug into Iota before as the crypto people are now all crazy about it.

            “the values of the best known cryptos will continue to rise and hit new heights.” – but would you not think that Bitcoin, being so inferior to other cryptos (fees, speed) – even in your own admission from other websites – who meanwhile are getting more and more advertisement, will be what Motorola was to mobile phones market?

            Now, when the cryptos are getting accepted by mainstream, what’s the advantage of Bitcoin?

            “Frankly I am expecting a much larger correction in the near future” – yes, I cannot believe it went up so much so quickly. That 30% loss and a rebound looks like a typical pump and dump to me.

            “Ripple will probably serve a fuction, it’s not something I’m interested in though.” – because it’s centralised and Ripple controls 60% of supply? I thought that if the central banks are getting their hands on it, then that alone would make it skyrocket…

          • Grzegorz Kolodziej

            “what’s the advantage of Bitcoin?” – apart from the infrastructure, of course (which is easy to match up if other cryptos have bigger market cap).

          • Truthist

            SUPPORTING UR THESIS Grzegorz
            .
            .
            CRYPTO-CURRENCY / CYBER-CURRENCY
            eg.
            Bitcoin
            .
            =
            .
            “MARK OF THE BEAST”
            or
            for the confirmed Atheists since 7 years old
            “ORWELLIAN MARK ON CITIZEN”

            .
            EXCERPTS FROM LINK I GAVE ABOVE Re ; Bitcoin & other Crypto-Currencies / Cyber-Currencies STRICTLY ;

            EXCERPT ;
            .
            Starting back in 2014, we began noticing more and more requests to post a “Bitcoin” button that would allow readers to donate to TomatoBubble.com with the hot new “crypto-currency” worldwide payment system. Bitcoin and other rapidly emerging cryptos are a form of “decentralized” digital currency, as the system works without a Central Bank or a single administrator.
            .
            The Bitcoin network is person-to-person, with transactions between users taking place directly through the use of cryptography only. Bitcoins can be exchanged for other currencies, products, and services. The transactions are automatically verified and recorded in a publicly distributed ledger called a “blockchain.”
            .
            At first, it seemed like a good way to work around PayPal and fly under the IRS radar, but we just never got around to getting involved because we figured the Feds would eventually catch up to such a “peoples’ currency” and shut it down anyway. But now, lo and behold, Bitcoin mania is being heavily promoted by the great and the good of the PRC (Predatory Ruling Class) — so much so that a single $1 of Bitcoin purchased a few years ago is today worth about $65!
            .
            Hyped by the Piranha Press and blessed by the Rothschild Central Banks, digital crypto-currencies — Bitcoin foremost among them at this time –are exploding in popularity and “value.”
            .
            Suckers worldwide are now purchasing Bitcoin with credit cards and even home loans (just as in the allegorical story of “The Great Tomato Bubble” (here) for which this site is named). The fact that Wall Street Hedge funds have joined the Globalist media mania bubble of Bitcoin constitutes “prima facie” (a $10 Latin legal term for “first face”) evidence that there is a sinister agenda behind these digital currencies. Should there be any lingering doubts over such a suspicion, these headlines ought to dispel them:
            .
            Coindesk:
            (December 17, 2017): 2018:
            The Year Central Banks Begin Buying Cryptocurrency (here)
            .
            CNBC:
            (December 18, 2017):
            Central Banks could hold bitcoin and ether for the first time in 2018 (here)
            .
            Quartz Index: (September 25, 2017): Central Banks considering launch of official cryptocurrencies (here)
            .
            The fix is in, boys and girls.
            What is the motive here, you ask?
            .
            Flashback time:
            .
            (February 24, 2016):
            .
            Getting Rid of Big Currency Notes Could Help Fight Crime
            .
            By ANDREW ROSENTHAL, er “THE EDITORIAL BOARD”
            .
            (some excerpts)
            .
            As part of his oh-so-high-minded effort to “fight crime”, Andrew Rosenthal (cough cough), that shadowy little Wicked Weasel of Oz who styles himself as “The Editorial Board”, has come out swinging in favor of former Treasury Secretary Larry Summers (cough cough) recent call to ban the $100 dollar bill. Gotta stop them drug-dealers, eh Andy? (rolling eyes, sarcastically).
            .
            This all-of-a-sudden push to ban big bills is a harbinger of the dark days ahead. It’s significance is huge — all the more so now that Rosenfilth of the New York Slimes is pushing it (just days after the Washington Compost came out in favor of the ban as well).
            .
            1.
            Andrew Rosenthal (cough cough) of the Slimes’ “Editorial Board” wants an end to cash.
            .
            2.
            Old Time Magazine cover — Thank God for great men such as Robert Rubin (cough cough), Alan Greenspan (cough cough), and Lawrence Summers (cough cough).
            .
            3.
            The brilliant plan to ban big bills is going to save the world’s children from the drug dealers. (rolling eyes)
            .
            Rosenthal, er, “The Editorial Board”:
            .
            “Few Europeans use the 500-euro note, and most Americans rarely encounter the $100 bill. Yet hundreds of millions of these notes are in circulation around the world… officials in Europe and elsewhere are proposing to end the printing of high-denomination bills.
            .
            Getting rid of big bills will make it harder for criminals to do business …
            .
            The president of the European Central Bank, Mario Draghi, recently said the bank is considering getting rid of the 500-euro note ($557)… though the central bank plans to keep the 200-euro and 100-euro bills.
            .
            Critics who oppose such changes say the big bills make it easier for people to keep their savings in cash, especially in countries with negative interest rates.
            .
            But these are relatively minor burdens compared with the potential benefits of reducing criminal activity and tax evasion.
            There are now so many ways to pay for things, and eliminating big bills should create few problems.”
            .
            PayPal ran a TV commercial during the 2016 Stupor Bowl —the images and slogans from which speak for themselves.
            .
            The end game is to kill paper money.
            .
            End of flashback excerpt
            .
            The end-game behind the crypto craze is to usher in a GLOBAL digital currency which, in time, will be very much “centralized.” In the meantime, this could also be part of a sophisticated CIA money-laundering or “pump & dump” operation.
            .
            In the long run, we do not think that the Globalists will be able to pull off such an ambitious leap toward one-world tyranny — not with Messrs. Putin, Xi and Trump around. But the Central Banksters sure as hell are gonna try when they start issuing their own digital currency, as is expected in 2018. Amazing. Now who, say, 30 years ago, could possibly have envisioned the rise of digital global currency in 2018? Hmmm?
            .
            An prophetic excerpt from a 1988 Economist article (as quoted from a 2014 issue of Bitcoin Magazine):
            .
            “THIRTY years from now (i.e. 2018), Americans, Japanese, Europeans, and people in many other rich countries, and some relatively poor ones will probably be paying for their shopping with the same currency. Prices will be quoted not in dollars, yen or D-marks but in, let’s say, the phoenix. The phoenix will be favored by companies and shoppers because it will be more convenient than today’s national currencies, which by then will seem a quaint cause of much disruption to economic life in the last twentieth century.”
            .
            “An even more ambitious solution would be to move to a truly global currency, along the lines of Keynes’s “bancor”, that would circulate alongside countries’ own currencies and would offer a store of value truly disconnected from economic conditions and policies in any country.
            .
            To achieve this, one would need to set up a global monetary institution that would issue the global currency depending on global economic conditions, and that could act as a global lender of last resort. It would need to have an impeccable (“AAAA”) balance sheet, and governance arrangements that engender widespread credibility and acceptability.”
            .
            “As telecommunications technology continues to advance, these transactions will be cheaper and faster still.”
            .
            “The phoenix zone would impose tight constraints on national governments. There would be no such thing, for instance, as a national monetary policy. The world phoenix supply would be fixed by a new central bank, descended perhaps from the IMF.
            This means a big loss of economic sovereignty, but the trends that make the phoenix so appealing are taking that sovereignty away in any case.
            .
            Wow. Just wow. Now have a look at the cover of that very same 1988 Economist issue, on the left:
            .
            Rothschild’s “prestigious” Economist magazine — January, 1988. Note the future date on the coin (2018), and the similarity in appearance between the ‘Phoenix” coin and the “Bitcoin” logo, and what could be easily be interpreted as the Twin Towers. Does this mean that the plan is to use the crypto bubble to “burn” the world’s currencies so that the one-world money system can rise like that phoenix on the cover?
            .
            .
            And by the way, the 2014 Bitcoin Magazine article quoting that 1998 Economist Magazine article, was not citing the old story about one-world currency as a warning. But rather, as a good idea, preferably with Bitcoin serving as the coming world currency, and not necessarily the Economist’s “phoenix.” The headline and a quote from the Bitcoin piece:
            A World Currency – Not a New Idea (February 25, 2014)
            “At this point we could be talking about Bitcoin or any new cryptocurrency out there today. Let’s continue as the article talks about what could lead to this “New World Currency”.

            Next is a statement that will get the attention of the Bitcoin user. Remember, this was written in January 1988.

            ‘As telecommunications technology continues to advance, these transactions will be cheaper and faster still.’
            Here we might still be talking about Bitcoin. …This 1988 article was obviously ahead of its time. It shows that a new kind of world currency is not a new topic of conversation. And the mention of 2018 looks eerily realistic as we watch things unfold today.(2014)
            .
            You see, the gift of “prophecy” comes easy when you are the one running the show! There is no doubt about this one, boys and girls. Bitcoin was never a “spontaneous” digital currency of “the people” that just “took off.” It has been, from the start, a tool of the usual suspects and the play is only getting started. The year 2018 promises to be very interesting. Stay tuned.
            .
            .
            1.
            Months before “The Good War” had even ended, the post-World War II monetary system was cooked up at Breton Woods by the US Communist Harry Dexter White (cough cough) and the UK Fabian Socialist and the known sodomite John Maynard Keynes. Keynes advocated a world currency, which he named “Bancor,” but he realized that the idea was still too radical for those times.
            .
            2.
            Bitcoin Magazine with a “Guy Fawkes” anarchist on the cover? — A sure sign of a CIA operation.
            .
            3.
            Slime [ "Time" ] Magazine cleverly hyping Bitcoin as if it were some sort of anti-government uprising of the people — another sure sign of a CIA operation.
            .
            .
            http://tomatobubble.com/bitcoin_mania.html

          • Grzegorz Kolodziej

            I find it interesting that the Litecoin’s founder has just sold ALL his Litecoins – I don’t think for the noble reasons he stated…

          • Adam, sorry for delay to your question.

            I am sorry to tell you that Toronto considers itself to be the center of the universe.

            To me it is a foreign country. It has a different attitude and culture to BC. I gather that the two places to try are the Sears tower for a view and the frozen open air rink at city hall.

            Sorry, I am no help from here.
            Merry Christmas, Adam
            Best
            Tony

          • Adam, you could try a trip to Niagara to take in the falls. It is spectacular and one use to be able to do a trip by elevator down to the back of the falls. 50 years ago I did that.

          • It’s hard to know where to click on this blog to reply to you Tony, crazy set up.

            I’m definitely going to Niagara as long as the roads don’t get too bad – snow or ice etc.

            I wouldn’t be interested in the ice rink but I might venture up the Sears Tower for sure. Otherwise I’ll relax and eat some nice food in central Toronto.

            Thanks Tony, Happy New Year.

  19. Maybe people do not feel richer because they are redeeming accumulated debt??

    Ireland:

    Ireland still owes €44.5B in bailout loans after paying off IMF early: The Irish Times said Ireland still owes €44.5B on bailout loans provided by the Troika in 2011 after paying off the remaining €4.5B it owed to the IMF ahead of schedule earlier this week. It noted that the National Treasury Management Agency (NTMA), the body which manages the State’s debts, confirmed the repayment to the IMF on Wednesday, a day after it was revealed that €1B in bilateral bailout loans provided to Ireland by Sweden and Denmark had also been repaid ahead of time.

    Posted at lemetropolecafe.com

  20. Massive tax cuts in the US put $1000 bonus cheques into the pockets of thousands.

    https://spectator.org/128-lumps-of-coal/?utm_source=American+Spectator+Emails&utm_campaign=6a10dafc71-EMAIL_CAMPAIGN_2017_12_22&utm_medium=email&utm_term=0_797a38d487-6a10dafc71-104365713

    Millions will have tax cuts. millions will have better take home pay and rising wages. Jobs will appear for millions more.

    “But rage is the weapon of the powerless, not the powerful. And the powerlessness felt by the average voter stems from the reality that, over the past 20 years, wages have been slipping back constantly relative to profits.”

    The powerless in the flyover belt so long ignored VOTED for the one candidate that said he would help. The coastal millionaire socialists despised the deplorables and now cannot contain their rage that they will pay higher taxes while the rest pay less.

    In a democracy , the ballet box can be a powerful tool to right the accumulate wrongs.

  21. Grzegorz Kolodziej

    The French press in general, and Mr Micron in particular, are not the brightest switches on the lightboard if this dawned on them only now:

    http://www.fdesouche.com/925067-viktor-orban-previent-hongrie-bloquera-toute-sanction-de-lunion-europeenne-contre-pologne

  22. Grzegorz Kolodziej

    The Irish Times should read this (also, they should sack the incompetent and slanderous Derek Scally):

    http://www.lefigaro.fr/vox/monde/2017/12/21/31002-20171221ARTFIG00266-l-injustice-faite-a-la-pologne-un-deni-de-democratie.php

      • Grzegorz Kolodziej

        Incredible – the German government has just said that the Article 7 sanctions against Poland are too mild, and is demanding that Poland should be sanctioned in a way that will affect it more (for judiciary reforms that most resemble the German, Austrian and Durch model).
        It also said that the same should apply to Hungary and the Czech Republic.
        And now even the French press is saying that Germany is going too far in the bullying – and when the ultra-federalist-bureaucratic-French are saying this, then the German government must be going not Tom Crean-like-too-far but rather “1938-Hitler-like-too-far”.

        See how the removal of the pugnacious Beata Szydlo as PM and replacing her with a more conciliatory PM Mateusz Morawiecki made Germany and Benelux more insolent.

        The EU Commission’s announcement of Article 7 proceedings against Poland – while giving a blessing to Austria’s far-right government – is the latest display of cynicism of the EU Commission. The Polish judicial reforms will force 40 pc of Supreme Court judges (many of them involved in communist crimes) to retire (in East Germany after the reunification, 65pc of all judges were forced to retire).

        The EU Commission vice-president, Frans Timmermans, said:

        “The ruling majority can now systematically interfere with the composition, power, and administration or functioning of these authorities”.

        This is the case in many EU-15 countries, but we are led to believe by the likes of Messrs Juncker and Timmermans – and now, in a new escalation, Chancellor Merkel – that only in Poland this threatens the rule of law: i.e. in Austria, the Federal Minister for Justice appoints the judges and doesn’t have to follow the recommendations of the so-called “Personalsenate” – the judicial bodies.

        When Jaroslaw Kaczynski decided to replace the popular Prime Minister Beata Szydlo with a more pro-EU Mateusz Morawiecki (former AIB employee, and Ireland’s former honorary consul in Poznan), he did it as a little peace offering to the Franco-German decision-making centre.

        However, Carolingian Europe read it as a sign of weakness – and while Austria’s decision that asylum seekers would have to hand in their money to cover their basic care cost (which is what Austria did in the 1980s – to be accepted as refuggees, Polish refugees had to spend all the money they brought with them to Austria towards the cost of their caretaking, and prove they closed all bank accounts and sold all property in communist Poland: one discrepancy in your documents/statements, and you were deported) was approved by the EU Commission, the EU’s reaction to much more moderate steps of the Polish government was a lot more condemning.

        What lessons should Ireland learn from Mr Timmermans’ rants? – that it’s better to invest time in building alliances in Europe (to get other countries veto the Carolingians madness) than in responding to the EU Commission’s double Dutch.

        My prediction:
        First the Germans came for the Poles – but I wasn’t a Pole, the Poles have their scary nationalistic marches, and besides, there is too many of them here anyway – so I said nothing.
        Then they came for the Hungarians – but those Hungarians put up a barbed wire to stop the poor Muslim women and children who surely deserve a better life – so I said nothing.
        Then they came for the Czechs. Who? So I said nothing.
        Then they came for the Spaniards – too many Spaniards here anyway; they are loud and have no English – so I said nothing.
        Then they came for the Irish, and they said:
        “na ja – your Supreme Court is even less separated from the executive than the Polish, nicht wahr?”.
        And the Irish said:
        “weren’t we the best in the class in taking your loans? Were we not the first to support Germany in condemning the lazy Greeks?
        Did we not rescue your unsecured bondholders – only because Angela Merkel rang Brian Cowen?
        Did we not get a pat on our heads in Brussels? Did we not condemn Polish judiciary reforms because we knew yous Germans and French will like it?
        Are we not the cutest hoores in the world? Don’t we deserve a lollipop?
        Can we not retain our corporate tax loopholes? Is this time not different?”

        And no one gave a flying f…k about a great little country in the centre of nowhere – including Ireland’s great friends, Trump and May. And everything was blamed on others, and no lessons were learned. And there was no Seamus Heaney to write about it. Like this maybe:
        “My Ireland – the green hills. The clover. The transgender. The Other. The faggots. The Queers.
        My Ireland is drunk for 800 years”.

        • Grzegorz Kolodziej

          Hmm, PM May visited Warsaw and made a statement aimed against Carolingian Europe, saying that constitutional issues should be an internal affair of European countries.

          I reckon that the Article 7 sanctions will not go through, because Poland has already secured the support of Hungary, Romania, and probably Austria in blocking the Article 7 “nuclear option”. But Germany and the cunning Dutch think one step ahead, hence Merkel’s unprecedented attack (so far, she used her German Shepherds, Timmermans, Jucker and Schulz). To block the “one step ahead sanctions”, Poland will need 5 countries support in the EU Council to block the next Dutch-German-French guillotine.

        • Good one Grze

          Keeping us up to date on the European machinations.

          Keep the open trade agreements and can the rest. Retake sovereignty of the nations and the people before it is too late and armed insurrection is the only option left.

  23. Truthist

    http://www.politics.ie/forum/eu/

    e.g.

    http://www.politics.ie/forum/eu/261153-eu-suspend-polands-voting-rights.html

    But, beware !
    Lots of moles in threads of politics.ie forum ;

    POLAND’s INDIGENOUS DEATHS NUMBERS [ CATHOLICs in the main ] [ ARISING FROM GERMAN NAZI OCCUPATION OF POLAND ] CONTRADICTS THE HACKNEYED REMAINDER FROM THE TOTAL.

    THIS IS PROBABLY THE MAIN REASON POLAND BEING TARGETED BY THE SELF-CHOSEN FEW.

    Not forgetting that Mr. Foxman visited Ukraine prior to installing regime to please him + Victoria Nuland [ real name Nudelman ] & cousins warning them not to be informing the world of Holodomoor genocide upon 14 million Ukrainian Christians by Bolsheviks who also holding Christian + Muslim Russia at that time captive as part of USSR.

    I wonder is slanderous Derek Scally also the appointed journalist of Anti-Irish-CUM-Anti-Polish Times for Ukraine ;
    And, if “Yes” ;
    What is his position about Holodomoor ?

    • Truthist

      Oops !

      This post of mine was intended to be a reply to Grzegorz’s main post immediately above.

    • Grzegorz Kolodziej

      Some observations (not that I want to spend any more time on it, especially before Christmas):

      1. Toland
      72,378 posts – what, how many???????!!!! – G.K.

      “While anyone would have to accept that Poland has a problem with its judiciary, the way the executive and legislative branches are going about “reform” of the judicial system drives a coach and four through the separation of powers. The EU is simply forced to respond.”

      Poor fool – he doesn’t even realise that the judiciary and executive powers are not separated in Ireland (Judges of the Supreme Court are appointed by the President of Ireland in accordance with the binding advice of the Government) – so if Carolingian Europe launched Article 7 against Poland for that, they can launch it against Ireland too (or Austria. Or Holland. Or Denmark. Or any other country where they are not separated. But… surely not Germany, where they are not separated either).

      2. Deadlock
      “Judicial independence and the separation of powers are fundamental precepts of democracy. Should moves by PiS that delimit that be simply accepted?”

      Another fool.

      “Separation of political and judicial systems is important.

      It’s part of the conditions of EU membership.

      3. Spanner Island
      If a nation wishes to abandon this principle then yeah… consequences should be expected.”

      Yet another fool, and no, it isn’t.

      4. Dame_Enda gives figures for net recipients… Yet take them per capita, and Ireland would be a lot bigger net recipient of the EU funds 2004-2015 than Poland (the biggest net recipient was Greece). Now, consider that out of those subsidies Poland gets, most go to German companies in Poland, Add financial capital transfers from Poland, and it turns out that Poland is net payer to… Germany and Holland!

      Very low level of discussions on this politcs.ie forum. Not worth anyone’s time. Won’t visit again

      • Truthist

        Yet, the likes of Politics.ie is very public opinion forming.

        Censorious + Rigged that RTE is ;
        Would u still refrain from getting ur say in if u had the opportunity ?

        • Grzegorz Kolodziej

          Yes, I would – “Do not give dogs what is holy; do not throw your pearls before swine. If you do, they may trample them under their feet, and then turn and tear you to pieces. ” – Matthew, 7:6

          I saw there was one decent guy, who contrary to them, didn’t pretend he knew staff he doesn’t know, but he was instantly ridiculed, as if their heads were crammed with all there is to know – while in fact they know fuck all not only about the Polish judicial system, but about the Irish judicial system too. None of them is indicating any primary or even secondary sources, just things they heard in the media from things the journalists heard from other journalists from people who handed them in to spread it – like the “Muslim holocaust” alleged Polish banner.

          Here on this blog, most people know more them politcs.ie guys and are more humble

          • Truthist

            “HAND-JOBS” ;
            GRAB ‘EM BY THE HAND WITH THE MSNIC GRIP !

            “See u later at the temple”

            8-)

            FOR EWE & GOLDBUG’s CONSIDERATION OF “THE RUSSIA / PUTIN [ & LAVROV TOO ; And, heck, I was warming to Lavrov ] DECEPTION”

            I now thinking that USA passing the mantle incrementally as ha-ha-ha “honest broker” ha-ha-ha to Russia ;
            And, all actually directed by the world’s only super power ; Izzy

            MOST OF WHAT WE READ & SEE ON VISUAL DISPLAYS FROM “ALL” Main-Stream Media [ MSM ] & MUCH ALTERNATIVE MEDIA IS A RUSE.

            BUT, THIS & MUCH MORE ACCUMULATED BY Henry Makow IS REAL ;

            https://twitter.com/HenryMakow/status/944239895572287489

            /////////////////////////////////

            AND, MORE TO HOME, IT IS THE BROTHERHOOD LEVEL NATIONALLY “Why Ireland’s growing economy isn’t making you richer”

  24. Truthist

    The Self-Chosenites are still determined to impose Communism upon the whole world ;
    Every citizen “equally poor” ;
    Except themselves, of course.

    I was told that Karl Marx alluded to ancient Ireland as basis for his communism economy ;
    Because, ancient Ireland did not — allegedly* — recognise the concept of private property.
    *Arguably, the ancient Hibernians did with certain property though ?

    “Hey, gimme back my girlfriend ! Stop, Thief !”

    “Hey, gimme back my … Britvic ! Stop, Thief !”

  25. Truthist

    The housing problems are decimating :

    most of persons whose sole income is social welfare + in, or seeking, private rented accommodation & / or seeking public housing

    most of students + in, or seeking, private rented accommodation

    most of working poor in jobs [ particular private sector employees, & particular self-employed & particular directors of ltd. companies ] +in, or seeking, private rented accommodation OR private ownership of own accommodation

    //////////////////////////////////////////

    Anyway, the housing problems have been carefully contrived by the Dreadful Few so as to help destroy the Irish nation.

    And, the local elite are delighted to profiteer on it.

    //////////////////////////////////////////////

    So, by way of coping against the circumstances, what is the state of the art Re :

    stand alone houses ?

    &

    stand alone apartment blocks ?

    OFF-GRID :
    Sewage
    Household Waste : Recycling, Compost, etc

    URGENT NEED TO GET “THE GOVERNMENT MONKEY” OFF ONE’s BACK

    //////////////////////////////////////////////////

    INCOME TAX IS CONSPIRACY TO HELP A BIGGER CONSPIRACY

    FORCE THE CITIZENS TO USE THE Fiat

    vis.

    The Fiat :

    loaned to the Government by the Private Central Bank

    created as loans by “zero” reserve commercial banks under license from the Private Central Bank

    IF NO INCOME TAX ;
    ==> CITIZENS COULD SUCCESSFULLY AVOID USING THE “invented from thin air” Fiat

    • Truthist

      WHY IRELAND’S GROWING ECONOMY IS NOT MAKING U ANY WISER AS TO THE 2 Main Scams of The Bankster Scam Bundle :

      1.
      Private Central Banking

      2.
      Zero Reserve Banking ;
      Yes, folks, the scam “Fractional” Reserve Banking just got scammier some decades ago ;
      It is now ;
      “Zero” Reserve Banking

      Brief Dialogue of 2 great men, from the world of telly, calling out, from their perspective, the scammiest scam of ‘em all ;
      .
      .

      David McWilliams
      ?Verified account @davidmcw
      Dec 21

      David McWilliams Retweeted Dara Ó Briain

      It’s a proper scam Dara…..more and more money taken out of less and less…..again and again!

      David McWilliams added,
      Dara Ó Briain
      @daraobriain
      Replying to @davidmcw @fmacconghail

      jesus, I think I still have shares in that from that privatisation in the late 90s, repeatedly renamed and slowly getting worth less and less.
      Such a con job.

      //////////////////////////////////////////////////

      All forenames — Capitalisation & all — faithfully re-produced from the 2 wise-men by Truthist

    • Truthist

      AMAZING HOW PEOPLE GET USED TO SOMETHING, & THINK THAT THE SITUATION NATURAL
      .
      .
      MORE ON “INCOME TAX” CONSPIRACY
      .
      .
      https://twitter.com/TrumpTrain45Pac/status/944973907102195718

  26. terence patrick hewett

    God rest ye Jerry mental men let nothing you dismay
    Remember Christ our Savour
    Was born on Christmas Day
    Remember good old Auschwitz
    And good old Belsen too
    The tidings of comfort and joy
    Comfort and joy

    Tidings of comfort and joy.

  27. terence patrick hewett

    May Punch be good and Judy fair: may evil vanish in the air.

  28. terence patrick hewett

    Like Groucho: whateveris – I’m against it.

    https://www.youtube.com/watch?v=dEFd_2_b6X8

    • Truthist

      NOTABLE Terence ;

      Groucho in refusing the offer extended to him to become a Frmsn, he declared ;

      “I refuse to join any club which would accept me as a member.”
      8-)

      Yet, the 2 brothers of his Marx Brothers troupe were Frmsns.

      //////////////////////////////////////////////

      The 3 Stooges are brilliant too

      IMHO ; Even better

  29. Truthist

    SO, WHAT TO DO ?
    .
    HERE IS A HUM-DINGER OF A TEMPLATE !
    .
    .
    THE WAY TO ARISE THE PEOPLE ;
    Unity,
    Information
    &
    Peaceful Dialogue With The Elite
    .
    .

    Ref.
    HEADING ;
    Swedish Activist’s Murder Spurs Call to Action
    .
    .
    December 20, 2017
    .
    .
    INTRO ;
    Bechir Rabani’s death has aroused the Swedish people to confront the complete corruption of the Swedish elite and MSM.
    The real Swedish opposition –rational people– has found their martyr.
    .
    .
    EXCERPT
    The Elite´s Extreme Fear Of The Masses
    .
    Bechir has aroused the Swedish people to confront the complete corruption of the Swedish elite and MSM.
    The real Swedish opposition –rational people– have now found their martyr. People are upset and they are more angry than fearful which is a big change compared to before.
    There are many people talking about visiting Aschberg again and this trend is very interesting since nobody can hide from the masses when they come to your front door.
    .
    In fact, this event in Sweden can serve as a model for other citizen journalists around the world.
    Stop writing articles and go visit your big leaders and see if they dare to meet you.
    If they kill you, you will become a martyr and hundred more people will show up at their door.

    Furthermore, Granskning Sverige, another citizen journalism initiative in Sweden calls on different important people and records their reactions.
    It has had a huge impact and has made the MSM go ballistic and stamp them as extremists as well.
    THE WAY TO ARISE THE PEOPLE ;
    Unity,
    Information
    &
    Peaceful Dialogue With The Elite
    .
    What we can learn from this probable murder is that there is a road map potentially being carved out for any country who wants to break free from the enslavement plans of the evil powers.

    1st
    Expose the elite by informing the people about the deception of their right-left paradigm and their money system with a focus on the banks and their monopoly on printing debt money.
    Cooperate with as many people as possible.
    Unity is key – one guy can´t beat the system but many people can do.
    .
    Use the internet only as a complement.
    Chances are only a few people will see your internet information so legs and mouths must be used.

    2nd
    The elite people and record the talks.
    That will further expose them when they can´t reply the questions and look like scumbags.
    .
    3rd
    Visit them in their homes in a peaceful way.
    Record everything. If someone dies after visiting them, spread the information everywhere.
    .
    Last of all, the masses need to take action and take control over the country when the tipping point is reached.
    Nobody can predict what will happen at that moment.
    .
    We still have a long way to go but things are changing in an unexpected way now.
    .
    .
    https://www.henrymakow.com/2017/12/swedish-activist-murder.html

    • Truthist

      EDITS ;
      .
      BECAUSE OF OMISSION ;
      2nd
      VISIT the elite people and record the talks.
      That will further expose them when they can´t reply the questions and look like scumbags.
      .
      ….
      .
      FURTHER REDACTMENT BY TRUTHIST ;
      4th
      Last of all, the masses need to take action and take control over the country when the tipping point is reached.
      Nobody can predict what will happen at that moment.
      .
      We still have a long way to go ;
      But things are changing in an unexpected way now.

  30. See you :-)
    Just home from an early Christmas lunch and supper with daughter, sons and inlaws and grandson. fun rolling on the floor with a talkative two year old. tomorrow is a sunday and a day to relax before Christmas day and the feasting and gifts to remind us of the moral authority who attempts to guide our lives for the better.

    Fun, food and family are on order for this weekend. I wish everyone peace and comfort.

    Best
    Tony

  31. michaelcoughlan

    Happy Christmas everyone.

    Best Regards,

    Michael.

  32. McCawber

    The answer to David’s question is once again “Inflation”.
    But inflation is below the ECB 2% target, I hear you all? say.
    The bitcoin savants fir one would disagree with a smile as it is possible to have.
    But laughing happily aside, the price of a standard postage stamp in 2012 eas 55c. Today it’s 100c.

    Yeah but surely average inflation is what matters.

    That is another one of those big lies.

    Inflation should be a tight average.
    As in the item with the largest rate of inflation should be 3% and the lowest 1% (Not sure if a lower limit is appropriate) with the average largest over 5 years being no more than 2.5% and the lowest, the lower the better -ve even.

    The big lie is that governments are soaking up all the benefits accruing from deflationary (and desirable) technological advance.

    Solution government bodies should be separately subjected to the target 2% rate of inflation.
    Their performance against this target should be measured and published.
    I think we would all get a very unpleasant surprise.

    Here’s a little puzzle to ponder after a your Christmas pudding has been suitablly dispatched.
    What would be your a list of measurable products that would make up an inflation basket for the public sector.
    The price of a stamp for starters.

  33. Truthist

    TAKE NOTE !
    .
    ……………………………………..
    .
    David McWilliams Retweeted
    Marla Dukharan
    .
    ?@Marladukharan
    .
    11m
    .
    Replying to @OverstockCEO @gilliantett @FinancialTimes
    .
    Excellent article @gilliantett
    maybe next year at @kilkenomics we can have a panel discussing how Blockchain technology can reduce poverty.
    .
    .
    @davidmcw
    .
    I am not sure what else can make a big difference in so many ways including digital financial inclusion
    .
    0 replies . 1 retweet 2 likes

  34. Truthist

    Happy Xmas to all Greek Orthodox Christians contributing to or reading solely this blog.
    Greeks Orthodox Christians being very devout actually use the X to signify the Christ ;
    That’s a real bummer for the Anti-Christs who purposely use X thinking that it gross insult to the Christ & Christians.
    .
    .
    And, Happy Christmas to all Christians who use the English language version of the Logos’s other name contributing to or reading solely this blog.

  35. Grzegorz Kolodziej

    Well, I guess that’s it – Christmas officially begins. It remains for me to wish all the Readers of the blog and David McWilliams himself a very Merry Christmas and part with you with the most popular Christmas carol in Poland:

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

    Nollaig faoi shéan agus faoi shona duit.

  36. Truthist

    Irish State’s GDP — production WITHIN Irish State jurisdiction — now classes earnings to prostitutes + pimps inter alia as part of GDP ;

    “Our home-grown Betters” #”ever internationally embarrassed by any remaining Catholicism in Ireland” & #”obsessed with so-called economic growth” surely soon will be promoting aping of this from post WW2 captive country Germany ?
    .
    .
    https://www.dangerous.com/39089/germany-now-animal-brothels-randy-goat-lovers/

  37. Truthist

    THEM FOLKS BE SAYING “It’s all relative” ABOUT JUST ABOUT EVERYONE & EVERYTHING.

    WELL, HERE ARE SOME PARAMETERS TO RELATE GROWTH + WEALTH :
    .
    …………………………………………….

    HEADING ;
    8 Axioms To Understand The Fake Economy

    by

    Tyler Durden

    Dec 20, 2017

    Authored by Bill Bonner via Bonner & Partners,

    What have we learned so far?

    http://www.zerohedge.com/news/2017-12-20/eight-axioms-understand-fake-economy

  38. Truthist

    NO CHRISTMAS CHEER FOR MANY INDIGENOUS SWEDES IN MALMO, SWEDEN
    .
    .
    FOR SURE, WERE THE DREADFUL FEW TO POOL TOGETHER AN ASSORTMENT OF YOUNG IRISH INSTEAD, OR ANY OTHER NATIONALITY, MALE DEGENERATES & TUTOR THEM TO RAPE CHILDREN [ Male & Female ] & WOMEN OF WHATEVER TARGETED NATION ;
    ==> U WOULD GET THE SAME RESULTS !

    ///////////////////////////////////////////////////////

    HEADING ;
    100s Protest in Sweden After Police Told Women to ‘Stay Inside or Walk in Pairs’ After Series of Violent Gang Rapes

    Dec 21, 2017

    Source: dailymail.co.uk

    The North

    Tags:
    gang rape Malmo migrant invasion Muslims sexual attack Stefan Löfven Sweden Swedish police violence against Whites violence against women War on Swedes war on Whites

    THE ARTICLE SOLELY ; MINUS THE COMMENTS
    100s took to the streets of Malmo in southern Sweden to protest after three teenage girls were brutally gang raped;
    And police told women to stay indoors.

    The most recent incident involved a 17-year-old girl who was raped by an unknown number of assailants in a children’s playground in the early hours of Saturday.

    The following day, Malmo police issued a warning to local women not to go outside alone at night, and to walk in pairs or use taxis.

    The first rape took place on November 4, and saw a young woman raped by several assailants after a party in Segevång, north Malmo.

    Just over a week later, a woman was attacked and raped by a number of men at a bus stop in Södervärn, central Malmo.

    Saturday’s rape took place just a few streets away in Sofielund, and saw the 17-year-old attacked by a group of men in a playground.

    ‘This is a horrible, particularly severe crime with exceedingly brutal violence,’ Andy Roberts, head of area police in North Malmo told Helsinborg’s Dagblad.

    He would not give the newspaper details of the violence the victim was subjected to, but added: ‘There are limits, even for me, as an old experienced police officer.’

    A local newspaper reports that the victims in all three cases were teenagers.

    Police say that while there is no obvious connection between the rapes, it cannot be ruled out as investigations are still ongoing.

    All three incidents took place between midnight and 3am and assailants were all young men unknown to the victims, Sydsvenskan reports.

    Yesterday’s protest, filmed by a participant, saw demonstrators demand police protection, tougher punishment and that the government step in and push through proposed legislation on consent.

    Bearing placards with messages such as ‘no rapists on our streets’ and ‘Stefan Lofven, take your responsibility’, directed at the country’s Prime Minister, hundreds of protesters gathered in Malmo on Tuesday evening.

    ‘I never thought I would be scared to walk around in my hometown,’ one of the speakers Sara Wettergren said according to Kvallsposten.

    Referring to the famous gang rape of a young student in Delhi in 2012, she added; ‘In India the perpetrators were convicted. In Sweden they walk free.’

    In the wake of the #MeToo debate and the recent gang rapes, the issue of sexual violence against women is going to be a key issue ahead of next year’s general election in Sweden.

    The protesters in Malmo outlined a series of demands on the Swedish government: tougher punishment for rapes, a Minster of Justice with competence in sexual violence issues and a National Police Commissioner ‘who cares about women’.

    The demonstrators were also protesting police advice that women stay indoors, which was issued on Sunday.

    ‘It’s about common sense. We are not warning people not to be outside, but to think twice and maybe not walk alone late at night and instead go with others or take a taxi,’ said Anders Nilsson of Malmo police who is leading the preliminary investigation.

    After a national backlash, Malmo police retracted their statement come Monday, with Mr Nilsson saying he had been ‘clumsy’ choosing his words.
    .
    .
    https://redice.tv/news/hundreds-protest-in-sweden-after-police-told-women-to-stay-inside-or-walk-in-pairs-after-series-of-violent-gang-rapes

  39. Truthist

    “Everybody’s smokin ;
    But, no one’s gettin high.”
    .
    John Lennon ; Nobody told me ; 1980
    .
    .
    “Israel’s growing territory isn’t making the indigenous Semites richer.”
    .
    .
    BRUTUS WAS A FASHION OF A FRMSN
    BRUTUS — A MONEYLENDER — JOINED THE PLOT AGAINST JULIUS CAESAR BECAUSE CAESAR HAD UPTURNED THE BANKSTER SCAM BUNDLE THAT WAS BLOOD SUCKING UPON THE CITIZENS & SLAVES OF ROME.
    .
    .
    https://twitter.com/HenryMakow/status/945326238163505153
    .
    .
    FOLLOWING ;
    .
    NO OFFER BY THE SELF-CHOSENITES FOR 1-STATE SOLUTION WITH EQUAL + FAIR RIGHTS FOR SEMITES [ JUDAICS + PALESTINIANS ]
    vis.
    NO OFFER OF 1 STATE SOLUTION WHICH INCLUDES THE PALESTINIANS + HAVING NO APARTHEID STATE INFLICTED UPON PALESTINIANS ALSO.
    .
    .
    “Et tu, Ron Paul”
    In the year of our Lord 2017
    .
    .
    https://twitter.com/HenryMakow/status/945326238163505153

  40. “”She is not alone. This is a typical conversation all over the West. How many times do we hear people in Ireland ask, “If things are going so well, why am I not feeling it?””

    People have been talking about this for years. I talked to Americans working hard going backwards, many years ago.

    It is the money system. all money is debt. The governments run deficits and borrow money. The banks increase the money supply and as all money except coin is loaned into existence this caused more debt. In fact 97% of all money is debt.

    All the debt is at at interest which is a surcharge on all the total ecomomies of the world.

    When the money supply is increased it has gone straight into financial instruments. bonds , stocks, mortgages. People are borrowing money to live. More debt. More interest. One of the biggest bubble is debt and associated leverage. This enables the stock bubble and the bond bubble and the mortgage bubble which in turn enables the real estate bubble.

    So the answer to the bewildered Canadian is simple.
    It is the money system , stupid. Can’t you figure it out? sorry I forgot you could not say that as you have yet to discuss the monetary system and refuse to acknowledge the implications of the communistic central banking system. It controls the economy. Therefore we do not have a free economy. Therefore we have a planned controlled economy. who makes the plans and for what purpose. all plans have an objective.
    Here the plan is to break the economic system. blame it on capitalism (which is not aloud to function and therefore no longer exists), and promote a solution. more centralization will be the cry. bigger and better plans. but the results are predictable.
    More of the same produces the same results. The bankers will be bigger, more wealthy, and control the means of production. The rest , the 99.99999 % (add your own decimals) will be poorer and still have no understanding of why it is so.
    Soon it will take 3 or 4 wage earners to buy a house and house sharing between families will be the norm. There is no need to build any more housing we just need to double and triple up. There are too many empty bedrooms anyway. The housing stock is used inefficiently. When I was a kid a three bedroom home housed 6 people. Recently it houses 2-3 people. Soon it will be nine.

    Welcome to the new world order.{:-)Bankers permitting.

  41. Project Veritas. James O’Keefe getting the truth out to the public.

    https://www.youtube.com/watch?v=XcNZtdsSXKs&feature=youtu.be

  42. https://www.projectveritas.com/

    American Pravda, WaPo: National Security Reporter Says Russia Story is “f*cking crap shoot…” and “Maybe it doesn’t exist, we haven’t found it yet.”
    In this all new Project Veritas video, two Washington Post employees are caught on hidden camera expressing their biases and acknowledging that the Trump-Russia collusion…..

  43. Truthist

    1st Christmas Mass in Mosul, Iraq since 2014
    .
    I… Secret Intelligence Service [ ISIS ] mercenary army of degenerates NOT pleased about this.
    .
    .
    Steven Nabil
    .
    ?Verified account @thestevennabil
    .
    The 1st Christmas mass in Mosul Iraq since June of 2014
    When #ISIS took over the city, Mosul was completely liberated 5 months ago.
    A huge win in the war against #isis and radical terrorism.
    .
    .
    https://twitter.com/thestevennabil/status/944997184457515008

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