Simplifying obfuscation — 11 Comments

  1. Bualadh bos, GD. Very well put.
    Of course the Gubmint COULD explain it just as easily as you did for the average Joe ……… if they wanted to.
    But wait, no; that’d be shooting themselves in the foot, wouldn’t it??

  2. Go raibh míle maith agat, InisEanna!  I try to simplify all problems as much as possible just so I can understand them.

    It’s quite possible that the gubmint haven’t a clue what it’s all about themselves and that’s why they can’t explain it.  They were given the fait accompli by Brussels along with a pat on the head and told to go vote on it like good little boys.

  3. “These people in Brussels are as fucking dangerous as they come”

    And they’re not even hiding it!

  4. There is widespread disillusionment with Banks. Their directors many years ago lost the traditional sense of conservative prudence. Instead of insisting that house buyers pay down 10 per cent from own savings, they gave them 100 per cent mortgage loans, often smiling when young married couples bought homes much bigger than the usual two-bed semi. Building Societies, which began in the 19th century as Friendly Societies, went into the business of building impressive office blocks for rental i.e. they went away from the vision of middle class home ownership and became entangled in prestige speculative building.

    The Credit Card companies for several years before the 2008
    financial meltdown offered supplementary mortgages to indebted owners who wanted to attach garages and solariums to their homes, and goodles like 12-month package holiday loans. With lots of interest. Reckless credit policies ensnared short-sighted borrowers.

     We have three alternatives to Banks. We have the somewhat tarnished Building Societies. We have the community-centred Credit Unions with ownership being shared by area-based savers. We have the Post Office Savings and the Savings Bonds. Alas, none of these alternative institutions offers personal cheques, and only one, the Building Societies, offers ATM cash facilities.

    Don’t just moan about the Banks. Re-examine your methods of handling personal finances. And try alternative methods.

    From this distance I can’t advise on how to vote on the fiscal treaty. Punters will get no short term joy whatever way they vote. Vote and suffer.

  5. Ger – I know only too well how reckless the banks were.  In my day, the maximum anyone could borrow was two and a half times their annual salary.  During the boom here they were giving out 110% and even 120% mortgages which was insane.  They were literally throwing money at people and no one thought the party would ever end.  But it did.  Of course the banks ended up in a terrible mess, but the political decisions that were taken afterwards mad the situation ten times worse.  We are now in a situation where we can never pay off the loans.  All revenues are going into the repayments, so there is nothing left for investment or spending – hence massive unemployment and continuing recession.  There is no way out.  whichever way the country votes, we’re fucked.

    5h4mr0(k – No need.  It’s not raining.

  6. we gave them the deeds to our fishing .who really benefited .
    looks like somthing similar .Kenny and Gilmore focus on a strategy  to retain power in the next election only .thats the smart approach ,fuck the people

  7. Welcome yo yo!  I think both Kenny and Gilmore know well enough that they are going to be shafted come the next election.  I would guess that they have their eye on a much bigger prize – a seat at the table with the big boys in Brussels.

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