We need to kill this fiction that the debt that Ireland is on the hook for is sustainable. It is not, the only people who say that it is are the liars, the credulous, or the misinformed. Last year, at the DEW Annual Policy conference, the chairman of the national...
When I went to the voting booth yesterday, I voted No. It was not a case of last minute gitters, nor was it a case of my being terrified by the austerity threats of the no-campaigners; I just didn’t have it in me to vote yes. This was the first...
When we try to understand the actions of Germany, with respect to the Eurozone, we have to look first at the Zollvererin league. The Zollvererin was a stepping stone to a united Germany, and it is supposed that the Euro will be the bridge that leads to a united Europe...
Chatting with the #occupiers of Dame Street has been interesting, if not very revealing. What seems to be happening is that they: know that something is wrong and, know that they are not happy. What then seems to happen is that the #occupiers then interpolate these two facts and...
“Prediction is difficult, particularly about the future” :- Neils Bohr The markets are not predictable, they never have been, and they probably never will be. The most accurate predictor of today’s prices are yesterday’s prices, a concept know as “the random walk”. Prices today are approximately the same prices as...
The bond markets are irrelevant now that the IMF are in the game. When the IMF offer funds it is as a funder of last resort. Realistically, no other lender will touch a country so long as an IMF funding programme is in place as the presence of the IMF...
We’re in the midst of three crises 1) a deficit crisis – caused by fifteen years of marketing oriented politics. 2) a banking crisis caused by us electing bullshit artists, and, 3) a Euro crisis, which has much more to do with Germany than it has to do with Ireland. We’re...