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 The IMF cometh II

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Should ireland be prepared to rescind its membership of WTO, TRIPS etc in the national interest?
Yes
80%
 80% [ 4 ]
No
20%
 20% [ 1 ]
Total Votes : 5
 

AuthorMessage
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PostSubject: The IMF cometh II   Tue Mar 10, 2009 6:42 am

Since I posted the initial comments on this, it has probably become clear that yes, indeed, the IMF is coming, and the only issue remaining is whether that was intended all along.

Consider; this govt is raising taxes as if it had a currency to defend, thus reducing demand. It will soon nationalise the other 2 banks. In the meantime, political violence has broken out again.

So are the - I assume - very young and bright people who post on this site happy to pay extra taxes to maintain in perpetuo this self-appointed FF/builder elite? If not, how radical are they prepared to be? Join the Rira ?(I jest, sort of). Abandon the Euro? Rescind the crippling international agreements this country mistakenly became part of?
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PostSubject: Re: The IMF cometh II   Tue Mar 10, 2009 12:05 pm

erigena wrote:
Since I posted the initial comments on this, it has probably become clear that yes, indeed, the IMF is coming, and the only issue remaining is whether that was intended all along.

Consider; this govt is raising taxes as if it had a currency to defend,
No, the Government is raising taxes as if it had a gap in its finances to fill.
thus. Filling the gap.
It will soon nationalise the other 2 banks. In the meantime, political violence has broken out again. Woopty do, eh?

So are the - I assume - very young and bright people who post on this site happy to pay extra taxes to maintain in perpetual this self-appointed FF/builder elite? I don't know about builder elite, (I'd get rid of "elite" by the way, its use is kind of a give away) but FF were "appointed" by the voters, unlike the three men and a dog of the RIRA.

If not, how radical are they prepared to be? Join the Rira ?(I jest, sort of). Abandon the Euro? Rescind the crippling international agreements this country mistakenly became part of? A hint for you, you might consider bringing it up at the next meeting of the collective. Try to hide your glee at the results of the current downturn, the unemployment, the uncertainty, the real fears people have for their economic future and your excitement at, as you see it, the opportunity it brings, again, it kind of gives your game away.

.
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PostSubject: Re: The IMF cometh II   Thu Mar 12, 2009 7:02 am

Tony, a chara

Can you please reformat this so we can read it?

In the meantime, nice article by Daveo making precisely these points

http://www.sbpost.ie/post/pages/p/wholestory.aspx-qqqt=DAVID%20MACWILLAMS-qqqs=commentandanalysis-qqqsectionid=3-qqqc=5.2.0.0-qqqn=1-qqqx=1.asp


tonys wrote:
erigena wrote:
Since I posted the initial comments on this, it has probably become clear that yes, indeed, the IMF is coming, and the only issue remaining is whether that was intended all along.

Consider; this govt is raising taxes as if it had a currency to defend,
No, the Government is raising taxes as if it had a gap in its finances to fill.
thus. Filling the gap.
It will soon nationalise the other 2 banks. In the meantime, political violence has broken out again. Woopty do, eh?

So are the - I assume - very young and bright people who post on this site happy to pay extra taxes to maintain in perpetual this self-appointed FF/builder elite? I don't know about builder elite, (I'd get rid of "elite" by the way, its use is kind of a give away) but FF were "appointed" by the voters, unlike the three men and a dog of the RIRA.

If not, how radical are they prepared to be? Join the Rira ?(I jest, sort of). Abandon the Euro? Rescind the crippling international agreements this country mistakenly became part of? A hint for you, you might consider bringing it up at the next meeting of the collective. Try to hide your glee at the results of the current downturn, the unemployment, the uncertainty, the real fears people have for their economic future and your excitement at, as you see it, the opportunity it brings, again, it kind of gives your game away.

.
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PostSubject: Re: The IMF cometh II   Thu Mar 12, 2009 7:46 am

Over and over, in country after country, governments rely on interest rates to cure inflation. It is a fundamental mistake you need tax increases specifically geared to take heat out of the sections of the economy that are over heating. The reason why they do this is because we the electorate don't like tax increases but interest rate increases are so, well unavoidable!

Every Euro removed by tax is a Euro that can be spent at a later date. Every Euro that is removed by increased interest goes where precisely? Increasing interest rates hits those who have borrowed to invest in their business.

The world would be a better place without the IMF and I think Austrian School economics only work when everything is peachy. The problem in financial circles is lack of effective regulation, lack of transparency, false accounting and fraud. What progress is being made to address the regulatory deficit?
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PostSubject: Re: The IMF cometh II   Thu Mar 12, 2009 12:01 pm

Quote :
Every Euro removed by tax is a Euro that can be spent at a later date

Is that still true of the money is used to bail out banks?
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PostSubject: Re: The IMF cometh II   Thu Mar 12, 2009 12:14 pm

erigena wrote:
Tony, a chara

Can you please reformat this so we can read it? "We" the Collective, do you mean?

In the meantime, nice article by Daveo making precisely these points
I won't waste your time by reformatting, I'm sure if you really wanted to make a response you would have managed, but isn't it odd that you above all, the master of the upside down post would have a problem with the style of a reply, mad or what ( I don't mean that in the Shell to Sea sense).


tonys wrote:
erigena wrote:
Since I posted the initial comments on this, it has probably become clear that yes, indeed, the IMF is coming, and the only issue remaining is whether that was intended all along.

Consider; this govt is raising taxes as if it had a currency to defend,
No, the Government is raising taxes as if it had a gap in its finances to fill.
thus. Filling the gap.
It will soon nationalise the other 2 banks. In the meantime, political violence has broken out again. Woopty do, eh?

So are the - I assume - very young and bright people who post on this site happy to pay extra taxes to maintain in perpetual this self-appointed FF/builder elite? I don't know about builder elite, (I'd get rid of "elite" by the way, its use is kind of a give away) but FF were "appointed" by the voters, unlike the three men and a dog of the RIRA.

If not, how radical are they prepared to be? Join the Rira ?(I jest, sort of). Abandon the Euro? Rescind the crippling international agreements this country mistakenly became part of? A hint for you, you might consider bringing it up at the next meeting of the collective. Try to hide your glee at the results of the current downturn, the unemployment, the uncertainty, the real fears people have for their economic future and your excitement at, as you see it, the opportunity it brings, again, it kind of gives your game away.

.
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PostSubject: Re: The IMF cometh II   Thu Mar 12, 2009 9:50 pm

cactus flower wrote:
Quote :
Every Euro removed by tax is a Euro that can be spent at a later date

Is that still true of the money is used to bail out banks?

Sorry I was assuming that the government does not take the motion to give the money away. I was thinking in terms of rational government.
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PostSubject: Re: The IMF cometh II   Thu Mar 12, 2009 11:12 pm

cactus flower wrote:
Quote :
Every Euro removed by tax is a Euro that can be spent at a later date

Is that still true of the money is used to bail out banks?
No, that money is not spent, we intend to get it all back, then we can spend it if we wish.
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PostSubject: Re: The IMF cometh II   Fri Mar 13, 2009 3:24 am

D'oh. This thread sounds as though it is going down the route of politics.ie, ie a dumb thread based on a simplistic premise that lacks even the most basic knowledge of what it is talking about.
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PostSubject: Re: The IMF cometh II   Fri Mar 13, 2009 5:37 am

Time to be serious then. I believe I previously posted this link by Arthur MacEwan professor of economics University of Massachusetts.

http://www.thirdworldtraveler.com/South_America/EconDebacle_Argentina.html

It is about Argentina but there are a lot of good general points made and it is worth a read.
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