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	<title>Comments for David McWilliams</title>
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	<link>http://www.davidmcwilliams.ie</link>
	<description>The website of economist, author and broadcaster, David McWilliams</description>
	<lastBuildDate>Wed, 08 Feb 2012 02:48:26 +0000</lastBuildDate>
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		<title>Comment on The Champagne is flowing&#8230;again by Pauldiv</title>
		<link>http://www.davidmcwilliams.ie/2012/02/06/the-champagne-is-flowing-again/comment-page-1#comment-112271</link>
		<dc:creator>Pauldiv</dc:creator>
		<pubDate>Wed, 08 Feb 2012 02:48:26 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=5023#comment-112271</guid>
		<description>David you sound like a fourteen year old boy struggling with an uncomfortable erection while watching Debby Harry on TOTP aka 1979 as the idea that there might be some positive movements in the economy is giving you cause for false joy. YouTube &#039;Cool Hand Luke You Gotta Get Your Mind Right&#039; ... and I mean RIGHT!&#039; It is seven seconds of wisdom and will make you piss your pants laughing. Shades of growing up in Catholic schools where misery is the only form of spiritual companion. We are all in misery now and do not have the means nor the energy for globetrotting and then preaching to the converted

You are bullshitting boy and wishing the future was something other than what is actually in store. Another insider blowing hot air and smokescreens, cashing in and unwilling to face the fact that most of your countrymen are suffering day after day. You are an intellectual waste of space but hey I like you. You are a nice guy but you have corrupted yourself. Please save yourself before it&#039;s too late. Do you still pay your taxes here or like Bono do you have an offshore accounts to handle such Goddam inconveniences? 

Do you enjoy paying your taxes elesewhere while preaching to us ignorant and unwashed bog trotters. You have really lost the run of yourself this time I am afraid. One look at the geo political situation tells us that the west is fucked but you are denying it. But hey war can regenerate the &#039;business cycle&#039; and we can just keep the printing presses running. You are out of your tiny fuckng mind with all this false optimism. Is the psycopath Obama paying you write this tosh? Hey Dave, just look at the statistics for poverty and unemployment in your dear ole USA and fucking waken up man

You are lying in my mind and if you are not lying then you are just incredibly fucking stupid. This is insulting man and you sound like one of the pricks in the Irish gov&#039;t who are consistently lying though their fucking teeth to make it look and seem that the Irish establishment morons are in anyway capable of thinking this thing out for themselves. Even if they had the wits to know what is going on they don&#039;t have the balls to utter one independent thought. They kick the unemployed as all Thatcherite governments do and rags like the Indo dance to their vicious tune. They are an arrogant bunch of blueshirts who hate the people who voted for them and they do not want the people to speak

Varadker - &#039;Referendums are undemocratic&#039;. Who do these fucking wankers think they are and why are you not asking the same questions Dave? Do you suggest we all just bend over and get raped by this crowd of fascist bastards? Grow a pair will you?  

We all loved Debby Harry but we all have to move on and get get a grip my bhoy! Were people seriously suggesting that you run for office? You have less balls that the lovely Debbie and it would take a helluva PR team to convince the people that you are electable. Then again if you follow the American model you will find out that with enough dosh and a serious lack of scruples it should be possible to go get even Daft Mattie elected knowing this idiotic and stupid electorate

I liked this article the first time I read it but after thinking about the utter shite you wrote I felt compelled to come back and ask you just who the fuck do you think you are peddling this crap to naive and unsuspecting minds. You are on tv so you are a man to be taken seriously haha. And you actually get paid for peddling this nonsense! 

There are charities in Ireland right now asking people to donate shoes in case others can do with the hand me downs. What fucking planet do you and your idiot followers live on? 

Ooooh! Do I buy gold this week or just water the soup down to last another day? Really. What a bunch of fucking wankers the Irish are. Full stop.

Growth, growth growth lads. It sounds like an ad from one of those imported 80s porn mag ads promising amazing powers of penile enlargement beyond the laws of chemistry, phhysics and biology. Another analogy for the idiot boom. Growth will make men of us all. Like spinach, growth makes men of iron and there is no man on this earth who is the equal to the mythical fighting Irishman

Is growth all you care about? You analyse your data all day long, as little boys with fetishes 
usually do (trainspotting) and then write up on your observations, put a spunky and sassy twist on it and then call it serious journalism! Get a fucking grip

Look up the Scottish Micro Brewery called &#039;Brew Dog&#039;. You&#039;ll love it Dave. It&#039;s spunky, sassy and sexy beyond repair. They have the stronest beer on the pla pla planet that you can purchase for 40 pounds a 330 ml bottle as a special present for a good mate. The Scottish diaspora are mad for it apparently 

I call this writing a washout and I can come to only one conclusion - that you are writing for an middle class audience who is well heeled and who have a lot to lose if they make the wrong call regarding what they do with their hard earned stash. Pink Floyd - Money. You are all about money Dave and the types who care about money more than community and you have travelled so far from your roots that you have lost contact with your humanity. In other words Dave I can&#039;t really believe a word you say. You and Bono claim to be Irish and I am just a simple immigrant. I am more Irish than the likes of you boy. You are a celebrity bullshitter and while I wish I could say you were a man who was in touch with the people clearly I think of you as the opposite

If anyone believes otherwise and cries &#039;Ooooh someone insulted David&#039; then fucking pity them for being so thick and servile. For god sake Dave be the man you should be and make someone proud of ye. We all need a hero but tis been many a long year since we saw one of them

You wanna be Ireland&#039;s Max Keiser Dave?
Then call in people who understand media, bullshit and where bullshit comes from. Professionals. 

Im off fishing but I may stop in a few weeks time to see what the craic is and to hear what the guys are saying. The guys are what make this blog what is is. Never forget that Dave.</description>
		<content:encoded><![CDATA[<p>David you sound like a fourteen year old boy struggling with an uncomfortable erection while watching Debby Harry on TOTP aka 1979 as the idea that there might be some positive movements in the economy is giving you cause for false joy. YouTube &#8216;Cool Hand Luke You Gotta Get Your Mind Right&#8217; &#8230; and I mean RIGHT!&#8217; It is seven seconds of wisdom and will make you piss your pants laughing. Shades of growing up in Catholic schools where misery is the only form of spiritual companion. We are all in misery now and do not have the means nor the energy for globetrotting and then preaching to the converted</p>
<p>You are bullshitting boy and wishing the future was something other than what is actually in store. Another insider blowing hot air and smokescreens, cashing in and unwilling to face the fact that most of your countrymen are suffering day after day. You are an intellectual waste of space but hey I like you. You are a nice guy but you have corrupted yourself. Please save yourself before it&#8217;s too late. Do you still pay your taxes here or like Bono do you have an offshore accounts to handle such Goddam inconveniences? </p>
<p>Do you enjoy paying your taxes elesewhere while preaching to us ignorant and unwashed bog trotters. You have really lost the run of yourself this time I am afraid. One look at the geo political situation tells us that the west is fucked but you are denying it. But hey war can regenerate the &#8216;business cycle&#8217; and we can just keep the printing presses running. You are out of your tiny fuckng mind with all this false optimism. Is the psycopath Obama paying you write this tosh? Hey Dave, just look at the statistics for poverty and unemployment in your dear ole USA and fucking waken up man</p>
<p>You are lying in my mind and if you are not lying then you are just incredibly fucking stupid. This is insulting man and you sound like one of the pricks in the Irish gov&#8217;t who are consistently lying though their fucking teeth to make it look and seem that the Irish establishment morons are in anyway capable of thinking this thing out for themselves. Even if they had the wits to know what is going on they don&#8217;t have the balls to utter one independent thought. They kick the unemployed as all Thatcherite governments do and rags like the Indo dance to their vicious tune. They are an arrogant bunch of blueshirts who hate the people who voted for them and they do not want the people to speak</p>
<p>Varadker &#8211; &#8216;Referendums are undemocratic&#8217;. Who do these fucking wankers think they are and why are you not asking the same questions Dave? Do you suggest we all just bend over and get raped by this crowd of fascist bastards? Grow a pair will you?  </p>
<p>We all loved Debby Harry but we all have to move on and get get a grip my bhoy! Were people seriously suggesting that you run for office? You have less balls that the lovely Debbie and it would take a helluva PR team to convince the people that you are electable. Then again if you follow the American model you will find out that with enough dosh and a serious lack of scruples it should be possible to go get even Daft Mattie elected knowing this idiotic and stupid electorate</p>
<p>I liked this article the first time I read it but after thinking about the utter shite you wrote I felt compelled to come back and ask you just who the fuck do you think you are peddling this crap to naive and unsuspecting minds. You are on tv so you are a man to be taken seriously haha. And you actually get paid for peddling this nonsense! </p>
<p>There are charities in Ireland right now asking people to donate shoes in case others can do with the hand me downs. What fucking planet do you and your idiot followers live on? </p>
<p>Ooooh! Do I buy gold this week or just water the soup down to last another day? Really. What a bunch of fucking wankers the Irish are. Full stop.</p>
<p>Growth, growth growth lads. It sounds like an ad from one of those imported 80s porn mag ads promising amazing powers of penile enlargement beyond the laws of chemistry, phhysics and biology. Another analogy for the idiot boom. Growth will make men of us all. Like spinach, growth makes men of iron and there is no man on this earth who is the equal to the mythical fighting Irishman</p>
<p>Is growth all you care about? You analyse your data all day long, as little boys with fetishes<br />
usually do (trainspotting) and then write up on your observations, put a spunky and sassy twist on it and then call it serious journalism! Get a fucking grip</p>
<p>Look up the Scottish Micro Brewery called &#8216;Brew Dog&#8217;. You&#8217;ll love it Dave. It&#8217;s spunky, sassy and sexy beyond repair. They have the stronest beer on the pla pla planet that you can purchase for 40 pounds a 330 ml bottle as a special present for a good mate. The Scottish diaspora are mad for it apparently </p>
<p>I call this writing a washout and I can come to only one conclusion &#8211; that you are writing for an middle class audience who is well heeled and who have a lot to lose if they make the wrong call regarding what they do with their hard earned stash. Pink Floyd &#8211; Money. You are all about money Dave and the types who care about money more than community and you have travelled so far from your roots that you have lost contact with your humanity. In other words Dave I can&#8217;t really believe a word you say. You and Bono claim to be Irish and I am just a simple immigrant. I am more Irish than the likes of you boy. You are a celebrity bullshitter and while I wish I could say you were a man who was in touch with the people clearly I think of you as the opposite</p>
<p>If anyone believes otherwise and cries &#8216;Ooooh someone insulted David&#8217; then fucking pity them for being so thick and servile. For god sake Dave be the man you should be and make someone proud of ye. We all need a hero but tis been many a long year since we saw one of them</p>
<p>You wanna be Ireland&#8217;s Max Keiser Dave?<br />
Then call in people who understand media, bullshit and where bullshit comes from. Professionals. </p>
<p>Im off fishing but I may stop in a few weeks time to see what the craic is and to hear what the guys are saying. The guys are what make this blog what is is. Never forget that Dave.</p>
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		<title>Comment on EU has hit self-destruct button as world moves on by Realist</title>
		<link>http://www.davidmcwilliams.ie/2012/02/01/eu-has-hit-self-destruct-button-as-world-moves-onv/comment-page-1#comment-112270</link>
		<dc:creator>Realist</dc:creator>
		<pubDate>Tue, 07 Feb 2012 18:21:41 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=5016#comment-112270</guid>
		<description>If those sub-prime mortgages were paid by people who took them it will be no crisis.
As I said derivatives only speeding up the whole process, but not creating the problem.

Credit expansion that gave such mortgages to anybody who applied by banks who had cheap money flowing from FED by low interest rate made the mess.

In Ireland no derivatives make all these houses, it is real builders trying to build them, and not finishing a lot of them.
Malinvestments that brought house prices so high while people were still building them and buying them without means to sustain such projects as no real savings happened in the society.</description>
		<content:encoded><![CDATA[<p>If those sub-prime mortgages were paid by people who took them it will be no crisis.<br />
As I said derivatives only speeding up the whole process, but not creating the problem.</p>
<p>Credit expansion that gave such mortgages to anybody who applied by banks who had cheap money flowing from FED by low interest rate made the mess.</p>
<p>In Ireland no derivatives make all these houses, it is real builders trying to build them, and not finishing a lot of them.<br />
Malinvestments that brought house prices so high while people were still building them and buying them without means to sustain such projects as no real savings happened in the society.</p>
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		<title>Comment on The Champagne is flowing&#8230;again by Realist</title>
		<link>http://www.davidmcwilliams.ie/2012/02/06/the-champagne-is-flowing-again/comment-page-1#comment-112269</link>
		<dc:creator>Realist</dc:creator>
		<pubDate>Tue, 07 Feb 2012 18:12:38 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=5023#comment-112269</guid>
		<description>You are just getting more and more ridiculess with saying more and more lies, without any reference.
You are just too dogmatic, who cannot argue properly.
You are just making me stronger to refute all your nonsense even more from now on.
The most I hate is people who will clearly lie, without any argumentation.</description>
		<content:encoded><![CDATA[<p>You are just getting more and more ridiculess with saying more and more lies, without any reference.<br />
You are just too dogmatic, who cannot argue properly.<br />
You are just making me stronger to refute all your nonsense even more from now on.<br />
The most I hate is people who will clearly lie, without any argumentation.</p>
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		<title>Comment on The Champagne is flowing&#8230;again by bonbon</title>
		<link>http://www.davidmcwilliams.ie/2012/02/06/the-champagne-is-flowing-again/comment-page-1#comment-112268</link>
		<dc:creator>bonbon</dc:creator>
		<pubDate>Tue, 07 Feb 2012 18:03:21 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=5023#comment-112268</guid>
		<description>So a Greek exit, followed in quick succession by you know who, will have a major impact on the cartels.

Mighty.</description>
		<content:encoded><![CDATA[<p>So a Greek exit, followed in quick succession by you know who, will have a major impact on the cartels.</p>
<p>Mighty.</p>
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		<title>Comment on The Champagne is flowing&#8230;again by bonbon</title>
		<link>http://www.davidmcwilliams.ie/2012/02/06/the-champagne-is-flowing-again/comment-page-1#comment-112267</link>
		<dc:creator>bonbon</dc:creator>
		<pubDate>Tue, 07 Feb 2012 17:49:04 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=5023#comment-112267</guid>
		<description>No lie. It is fascism, a distilled post WWII concoction.
And Keynes seen as a Fabian &quot;socialist&quot; fits well with Mont Pelerin now a Fabian subsidiary. So there is really no difference : Keynes, Hayek, Friedman all fascists. It must be said.

Nice that the new Greek resistance movement mentioned below is against economic violence. Exactly what the above preach, never mind the Troika and GS.</description>
		<content:encoded><![CDATA[<p>No lie. It is fascism, a distilled post WWII concoction.<br />
And Keynes seen as a Fabian &#8220;socialist&#8221; fits well with Mont Pelerin now a Fabian subsidiary. So there is really no difference : Keynes, Hayek, Friedman all fascists. It must be said.</p>
<p>Nice that the new Greek resistance movement mentioned below is against economic violence. Exactly what the above preach, never mind the Troika and GS.</p>
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		<title>Comment on The Champagne is flowing&#8230;again by bonbon</title>
		<link>http://www.davidmcwilliams.ie/2012/02/06/the-champagne-is-flowing-again/comment-page-1#comment-112266</link>
		<dc:creator>bonbon</dc:creator>
		<pubDate>Tue, 07 Feb 2012 17:42:44 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=5023#comment-112266</guid>
		<description>By that time there will only be an economic crater and nothing to do the right thing with!

Anyway the world does not work that way.</description>
		<content:encoded><![CDATA[<p>By that time there will only be an economic crater and nothing to do the right thing with!</p>
<p>Anyway the world does not work that way.</p>
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		<title>Comment on The Champagne is flowing&#8230;again by bonbon</title>
		<link>http://www.davidmcwilliams.ie/2012/02/06/the-champagne-is-flowing-again/comment-page-1#comment-112265</link>
		<dc:creator>bonbon</dc:creator>
		<pubDate>Tue, 07 Feb 2012 17:41:31 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=5023#comment-112265</guid>
		<description>It comes down to those Inside the Euro and Outside.
There is life after the Euro!

Farmers Can Supply 94% Of Domestic Demand If Greece Returns To Drachma

The president of the Greek farmers association declared that if Greece is forced to return to the drachma, then &quot;the Greek people will not go hungry.&quot;    Speaking at a conference in Thessaloniki organized by the Panhellenic Confederation of Unions of Agricultural Cooperatives (PASEGES) on Feb-4, the organization&#039;s president Tzanetos Karamichas said, &quot;We have to stop undermining Greek agricultural production and terrorizing people about not having enough to eat if the country goes bankrupt,&quot; he said. &quot;We can surpass self-sufficiency, create new wealth, and support the country.&quot;

Citing a recent study, Karamichas said it was clear that the Greek agricultural sector adopted  a sound agricultural policy it would be able to meet 100% of the country&#039;s needs. This study demonstrates that Greece was able to supply 94% of domestic demand for  basic agricultural products  in 2010. Domestic production covered on the average 99% of domestic demand in 2010, including 82% of domestic grain demand in 2010, while domestic production could only supply 32% of Greece&#039;s demand for soft wheat, it supplied 171% of the nation&#039;s demand for rice production. As for fruits, especially citrus, in which oranges production exceeded the 167% of demand, and lemons only yielded 67%; most lemons are covered by imports, especially from Turkey. The production of other fruit products on the average supply 128% of domestic demand. Domestic production of legumes only covered 39% of demand, that could be easily expanded.

Domestic livestock production covers 73% of domestic demand, with beef covering 30%, and sheep 94%. Domestic dairy production is able to cover 80% of domestic demand, with production of feta cheese alone averaged at 147% of total domestic demand. Honey and eggs supply 92% and 91%, respectively of the country&#039;s needs.

Greek agriculture suffers from the policies of the European Commission which is designed to benefit of the cartels and not the farmers and consumers of member nations.</description>
		<content:encoded><![CDATA[<p>It comes down to those Inside the Euro and Outside.<br />
There is life after the Euro!</p>
<p>Farmers Can Supply 94% Of Domestic Demand If Greece Returns To Drachma</p>
<p>The president of the Greek farmers association declared that if Greece is forced to return to the drachma, then &#8220;the Greek people will not go hungry.&#8221;    Speaking at a conference in Thessaloniki organized by the Panhellenic Confederation of Unions of Agricultural Cooperatives (PASEGES) on Feb-4, the organization&#8217;s president Tzanetos Karamichas said, &#8220;We have to stop undermining Greek agricultural production and terrorizing people about not having enough to eat if the country goes bankrupt,&#8221; he said. &#8220;We can surpass self-sufficiency, create new wealth, and support the country.&#8221;</p>
<p>Citing a recent study, Karamichas said it was clear that the Greek agricultural sector adopted  a sound agricultural policy it would be able to meet 100% of the country&#8217;s needs. This study demonstrates that Greece was able to supply 94% of domestic demand for  basic agricultural products  in 2010. Domestic production covered on the average 99% of domestic demand in 2010, including 82% of domestic grain demand in 2010, while domestic production could only supply 32% of Greece&#8217;s demand for soft wheat, it supplied 171% of the nation&#8217;s demand for rice production. As for fruits, especially citrus, in which oranges production exceeded the 167% of demand, and lemons only yielded 67%; most lemons are covered by imports, especially from Turkey. The production of other fruit products on the average supply 128% of domestic demand. Domestic production of legumes only covered 39% of demand, that could be easily expanded.</p>
<p>Domestic livestock production covers 73% of domestic demand, with beef covering 30%, and sheep 94%. Domestic dairy production is able to cover 80% of domestic demand, with production of feta cheese alone averaged at 147% of total domestic demand. Honey and eggs supply 92% and 91%, respectively of the country&#8217;s needs.</p>
<p>Greek agriculture suffers from the policies of the European Commission which is designed to benefit of the cartels and not the farmers and consumers of member nations.</p>
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		<title>Comment on Punk Economics by RonF</title>
		<link>http://www.davidmcwilliams.ie/2012/01/30/punk-economics/comment-page-1#comment-112264</link>
		<dc:creator>RonF</dc:creator>
		<pubDate>Tue, 07 Feb 2012 17:25:30 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=5004#comment-112264</guid>
		<description>&quot;... here in Ireland we (the ordinary decent taxpayer) are being penalised out of existence, it is the natural duty of every parent to look after their family FIRST! and that means food on the table, clothes on their backs, shelter over their heads, and warmth to keep them healthy and that my friend is the end of the story!!!!  But here in Ireland a huge section of society is failing in either 1 or more of these 4 basic human rights and it is not acceptable!!!&quot;

1) The government is not your parent.  Once you leave your family nest at the proper age you, not the Government, are responsible for maintaining your life.
2) The ability to pursue the attainment of food, shelter, clothing and warmth without interference from others because of your religion, race, etc. is a human right.  But rights are not entitlements.  You have a right to strive to attain these things.  You are not entitled to have the Government take money from others by threat of force if necessary (&quot;taxes&quot;) and then pay for them for you.  Rights are not entitlements.
3) I quite agree with you that you cannot borrow your way out of this crisis.  The solution is to get to work and produce enough that you don&#039;t need to borrow the money - and to stop incurring debt by paying out huge amounts of money to people who are not productive.  Understand that I do not mean that people who through disability cannot support themselves should not be supported.  But there are large numbers of people who can support themselves but choose not to.  They need to be given a stark choice - work or starve.</description>
		<content:encoded><![CDATA[<p>&#8220;&#8230; here in Ireland we (the ordinary decent taxpayer) are being penalised out of existence, it is the natural duty of every parent to look after their family FIRST! and that means food on the table, clothes on their backs, shelter over their heads, and warmth to keep them healthy and that my friend is the end of the story!!!!  But here in Ireland a huge section of society is failing in either 1 or more of these 4 basic human rights and it is not acceptable!!!&#8221;</p>
<p>1) The government is not your parent.  Once you leave your family nest at the proper age you, not the Government, are responsible for maintaining your life.<br />
2) The ability to pursue the attainment of food, shelter, clothing and warmth without interference from others because of your religion, race, etc. is a human right.  But rights are not entitlements.  You have a right to strive to attain these things.  You are not entitled to have the Government take money from others by threat of force if necessary (&#8220;taxes&#8221;) and then pay for them for you.  Rights are not entitlements.<br />
3) I quite agree with you that you cannot borrow your way out of this crisis.  The solution is to get to work and produce enough that you don&#8217;t need to borrow the money &#8211; and to stop incurring debt by paying out huge amounts of money to people who are not productive.  Understand that I do not mean that people who through disability cannot support themselves should not be supported.  But there are large numbers of people who can support themselves but choose not to.  They need to be given a stark choice &#8211; work or starve.</p>
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		<title>Comment on Punk Economics by RonF</title>
		<link>http://www.davidmcwilliams.ie/2012/01/30/punk-economics/comment-page-1#comment-112263</link>
		<dc:creator>RonF</dc:creator>
		<pubDate>Tue, 07 Feb 2012 17:16:23 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=5004#comment-112263</guid>
		<description>I would say the answer is to blow up the EU.  If I were the Germans or French I&#039;d want to pull out immediately.  Reform a union where the member states are required to maintain some kind of sane fiscal structure, and where they get thrown out if they don&#039;t.</description>
		<content:encoded><![CDATA[<p>I would say the answer is to blow up the EU.  If I were the Germans or French I&#8217;d want to pull out immediately.  Reform a union where the member states are required to maintain some kind of sane fiscal structure, and where they get thrown out if they don&#8217;t.</p>
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		<title>Comment on Punk Economics by RonF</title>
		<link>http://www.davidmcwilliams.ie/2012/01/30/punk-economics/comment-page-1#comment-112262</link>
		<dc:creator>RonF</dc:creator>
		<pubDate>Tue, 07 Feb 2012 17:14:09 +0000</pubDate>
		<guid isPermaLink="false">http://www.davidmcwilliams.ie/?p=5004#comment-112262</guid>
		<description>I&#039;m afraid that I see a number of things wrong with this.

1) &quot;The Bankers&quot; don&#039;t own the money in the banks.  It is not theirs.  They just manage it.  True, they take a healthy slice off the top for themselves, and the amount they get needs examination, but it&#039;s nowhere near the total amount of debt, it&#039;s a small fraction thereof.  The money in the banks belongs to the depositors, which boils down to private citizens (whether individuals or corporations that individuals invest in).  Banks take in other people&#039;s money, loan it out, charge interest, take some of that interest as profits and pay the rest out to the people that put the money in as principle and interest.  If Greece et. al. default on their debts then how are the people who put their money into the banks get repaid?  And what happens to them when it is not?

2) I don&#039;t see you touch at all upon the question of how Greece and others got into all this debt in the first place.  The answer is that their governments made promises they couldn&#039;t keep.  They grossly expanded social services and pensions (people retiring at 50 and 55 and immediately collecting lifetime pensions, for God&#039;s sake) without making sure that they&#039;d have enough income to pay for them.  Why should people who were not even involved in those decisions have to make them good?  And why shouldn&#039;t the people who were involved in those decisions - the voters in those countries that blindly elected and re-elected officials that made promises that any fool could see couldn&#039;t be kept - be held responsible?  This you term &quot;punishment&quot;, as if holding someone responsible for their own actions is wrong.  If I were German or French why should I work hard to pay some Italian hairdresser to retire at 50?

3) Jesus forgives out of an inexhaustible font of grace.  God is not diminished when He forgives.  Banks - and the people who put their money in them - are.

Modern life is impossible without banks.  Where will governments get the money for building roads, fielding armies, etc. without being able to borrow from banks?  What bank will be stupid enough to lend money if countries can simply run up debt and then default?</description>
		<content:encoded><![CDATA[<p>I&#8217;m afraid that I see a number of things wrong with this.</p>
<p>1) &#8220;The Bankers&#8221; don&#8217;t own the money in the banks.  It is not theirs.  They just manage it.  True, they take a healthy slice off the top for themselves, and the amount they get needs examination, but it&#8217;s nowhere near the total amount of debt, it&#8217;s a small fraction thereof.  The money in the banks belongs to the depositors, which boils down to private citizens (whether individuals or corporations that individuals invest in).  Banks take in other people&#8217;s money, loan it out, charge interest, take some of that interest as profits and pay the rest out to the people that put the money in as principle and interest.  If Greece et. al. default on their debts then how are the people who put their money into the banks get repaid?  And what happens to them when it is not?</p>
<p>2) I don&#8217;t see you touch at all upon the question of how Greece and others got into all this debt in the first place.  The answer is that their governments made promises they couldn&#8217;t keep.  They grossly expanded social services and pensions (people retiring at 50 and 55 and immediately collecting lifetime pensions, for God&#8217;s sake) without making sure that they&#8217;d have enough income to pay for them.  Why should people who were not even involved in those decisions have to make them good?  And why shouldn&#8217;t the people who were involved in those decisions &#8211; the voters in those countries that blindly elected and re-elected officials that made promises that any fool could see couldn&#8217;t be kept &#8211; be held responsible?  This you term &#8220;punishment&#8221;, as if holding someone responsible for their own actions is wrong.  If I were German or French why should I work hard to pay some Italian hairdresser to retire at 50?</p>
<p>3) Jesus forgives out of an inexhaustible font of grace.  God is not diminished when He forgives.  Banks &#8211; and the people who put their money in them &#8211; are.</p>
<p>Modern life is impossible without banks.  Where will governments get the money for building roads, fielding armies, etc. without being able to borrow from banks?  What bank will be stupid enough to lend money if countries can simply run up debt and then default?</p>
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