Category: Economics

Stop committing economic suicide.., as follows: »

OK, Part 1 of the Four Year National Revival plan (FYNRP) is to stop doing the things that are getting us into a deeper and deeper hole and start earning some respect from our creditors. Take NAMA. A good idea in principle when first launched, it has become a monster !. Instead of “saving” the […]

Why Ireland must pay a higher interest rate……. »

I submitted this to the IrishEcomony.ie blog today and reproduce it here for the other two readers: About these widening spreads….I suspect they are related to NAMA, which is the source of the great majority of new Irish debt. Last February I worked out approximately that, based on the preliminary NAMA Business plan, the interest […]

Report on my “gamble on AIB” suggestion »

On Feb. 28 I wrote a piece entitled “A Gamble on AIB today?” (see below), in which I recommended a flutter on AIB at that time. I’m happy to say !..yes, happy, because at that time the share was c. 1.00 euro, and it since–almost immediately- rose to c. 1.65 euro last week…an enormous profit […]

Banks – no need to panic »

So, we have arrived at the moment of truth..NAMA is to reveal the price it will pay and the banking system will end up in government hands, according to the professional professors, the insider winkers, the usually well informad media commentators and the bewildered of RTE. Well, I think they’re wrong. I’m sticking my neck […]

State to gain billions from NAMA assets »

There is a curious statement in the EU Commissions press release today (IP/10/198, 26th February) : “…the inclusion of an adequate remuneration for the state in the rate used to discount the assets’ long term economic cash flows…” The implication here is that the Commission feels that the State is proposing to discount the future […]

Are Messrs. Honohan and Lenihan on the same wavelength? »

Last night I heard on “The Week in Politics”, on RTE tv, the affable and articulate new Governor of our Central Bank, Dr. Patrick Honohan, predict that the Irish banking sector will come into foreign ownership, when the government eventually sells its shares.. He has been predicting a rosy future for the banks, on the […]

Pols switch our anger onto the banks »

I posted the following comment in answer to another commentator, to the interesting discussion board, AskAboutMoney.com, today. My fundamental feeling is that the shareholders of the two main banks are being unfairly villified by Irish media these days, and have been neatly passed responsibility for the States own mismanagement of our finances, which represent a […]

Government now refers to NAMA as “borrowing” »

I have heard Frank Fahy this morning referring to the NAMA “borrowing” as something that should not be included in the National Debt. This is the first time I have heard government spokespersons acknowledge that NAMA is a scheme in which the government “borrows” assets from the banks. Indeed,all of the media “Business reporters”, as […]

Who are the NAMA bank shareholders? »

Have you ever wondered who are these evil shareholders of the Irish  banks, whose selfish and greedy speculation in the financial market has so badly injured the national interest and brought us to the edge of economic ruin? Well, the two main banks with the most “toxic” of assets are Anglo Irish- whose shareholder is […]

NAMA is MANNA for the State »

I have just sent the following as a comment to Simon Carswell in the Irish Times, today, in response to his article ” State takes the pain as NAMA tries to keep banks afloat” “Simon ,  You are saying, or at least implying, that the State is borrowing funds to bail out the banks.   “The State […]

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