The Many Faces of US Politics...

[seafoid]

Seafoud tried to rebuke me and then immediately linked to a publication whose entire exsistence is centered around attacking capitalism and literally supports marxism. You may as well kick the ball in your own net and be done with the discussion.

Syf, the economic system is very close to collapse. The Eurozone does not have a lender of last resort. Do you understand what that means ? 

a fella who used to play for Mayo called Ludwig Von Mises said that all debt expansion systems end in mass bankruptcies. WW2 was the result of the last one.


is the ECB not a lender of last resort?
You support plutocracy. God only knows why. What did plutocracy ever do for Roscommon?

The ECB would have bailed out Anglo and AIB in 2010 if it had been a lender of last resort.

When the banks blow up again the people will have to pony up again.

Where do you think the bailout money came from, Seafoid? Because it definitely wasn't the billions we didn't have laying around.

It was added onto the debt

So your idea of a lender is not a lender at all. Gotcha.

It is not a monetary union. The ECB is not a proper central bank.

[Syferus]

Seafoud tried to rebuke me and then immediately linked to a publication whose entire exsistence is centered around attacking capitalism and literally supports marxism. You may as well kick the ball in your own net and be done with the discussion.

Syf, the economic system is very close to collapse. The Eurozone does not have a lender of last resort. Do you understand what that means ? 

a fella who used to play for Mayo called Ludwig Von Mises said that all debt expansion systems end in mass bankruptcies. WW2 was the result of the last one.


is the ECB not a lender of last resort?
You support plutocracy. God only knows why. What did plutocracy ever do for Roscommon?

The ECB would have bailed out Anglo and AIB in 2010 if it had been a lender of last resort.

When the banks blow up again the people will have to pony up again.

Where do you think the bailout money came from, Seafoid? Because it definitely wasn't the billions we didn't have laying around.

It was added onto the debt

So your idea of a lender is not a lender at all. Gotcha.

It is not a monetary union. The ECB is not a proper central bank.

Seafoid, just because you support socialism it doesn't mean being asked to pay for your debts is even noteworthy. Communism failed, repeatedly. Capitalism is much, much more successful at supporting both people and societies. Just because it's not perfect it doesn't mean you're enlightened or even entitled to sneer at it.

[seafoid]

Seafoud tried to rebuke me and then immediately linked to a publication whose entire exsistence is centered around attacking capitalism and literally supports marxism. You may as well kick the ball in your own net and be done with the discussion.

Syf, the economic system is very close to collapse. The Eurozone does not have a lender of last resort. Do you understand what that means ? 

a fella who used to play for Mayo called Ludwig Von Mises said that all debt expansion systems end in mass bankruptcies. WW2 was the result of the last one.


is the ECB not a lender of last resort?
You support plutocracy. God only knows why. What did plutocracy ever do for Roscommon?

The ECB would have bailed out Anglo and AIB in 2010 if it had been a lender of last resort.

When the banks blow up again the people will have to pony up again.

Where do you think the bailout money came from, Seafoid? Because it definitely wasn't the billions we didn't have laying around.

It was added onto the debt

So your idea of a lender is not a lender at all. Gotcha.

It is not a monetary union. The ECB is not a proper central bank.

Seafoid, just because you support socialism it doesn't mean being asked to pay for your debts is even noteworthy. Communism failed, repeatedly. Capitalism is much, much more successful at supporting both people and societies. Just because it's not perfect it doesn't mean you're enlightened or even entitled to sneer at it.

Syf

The debts were run up by the banks. Not by the people of Roscommon. The Central Bank was supposed to take the hit.

I am not a "socialist". I understand how the system works. It sucks.
I want a system that works for ordinary people. There was one between 1945 and 1979.

[Rossfan]

Correct in your last sentence Seaf as huge numbers of ordinary people got to have unbelievably decent lifestyles.
Thatcherism/Reaganism marked the end of that and since then vast quantities of wealth have been transferred to an ever decreasing band of super super rich.
Time for another "New Deal"

[seafoid]

Correct in your last sentence Seaf as huge numbers of ordinary people got to have unbelievably decent lifestyles.
Thatcherism/Reaganism marked the end of that and since then vast quantities of wealth have been transferred to an ever decreasing band of super super rich.
Time for another "New Deal"

Castlerea had its own department store well into the 70s. . Now everything is in Galway and Athlone

[Syferus]

Correct in your last sentence Seaf as huge numbers of ordinary people got to have unbelievably decent lifestyles.
Thatcherism/Reaganism marked the end of that and since then vast quantities of wealth have been transferred to an ever decreasing band of super super rich.
Time for another "New Deal"

What part of 1945-79 was better than 2017 for the average man, woman or child in Ireland? If I'd been born then I'd have had to emigrate from Ireland to work like my father.

[Eamonnca1]

The Central Bank was supposed to take the hit.

The US Treasury Department bailed out the banks in 2008. Does that mean the Fed is not a proper lender of last resort? Is the Fed not a proper central bank?

[seafoid]

The Central Bank was supposed to take the hit.

The US Treasury Department bailed out the banks in 2008. Does that mean the Fed is not a proper lender of last resort? Is the Fed not a proper central bank?

The Fed is, Eamonn. The ECB is not

[seafoid]

Correct in your last sentence Seaf as huge numbers of ordinary people got to have unbelievably decent lifestyles.
Thatcherism/Reaganism marked the end of that and since then vast quantities of wealth have been transferred to an ever decreasing band of super super rich.
Time for another "New Deal"

What part of 1945-79 was better than 2017 for the average man, woman or child in Ireland? If I'd been born then I'd have had to emigrate from Ireland to work like my father.

You could buy a house on one salary.
People got payrises.
Banks didn't collapse
There were no economic crashes
Debt related suicides were unheard of
Society was more creative because the money was spread around

[Syferus]

Correct in your last sentence Seaf as huge numbers of ordinary people got to have unbelievably decent lifestyles.
Thatcherism/Reaganism marked the end of that and since then vast quantities of wealth have been transferred to an ever decreasing band of super super rich.
Time for another "New Deal"

What part of 1945-79 was better than 2017 for the average man, woman or child in Ireland? If I'd been born then I'd have had to emigrate from Ireland to work like my father.

You could buy a house on one salary.
People got payrises.
Banks didn't collapse
There were no economic crashes
Debt related suicides were unheard of
Society was more creative because the money was spread around

The economy was in deeper shìt then with huge immigration and the welfare supports you complain about were no where near as strong as they are now.

Far too many people fall into this trap of believing life was better in the olden days. It wasn't.

[seafoid]

Correct in your last sentence Seaf as huge numbers of ordinary people got to have unbelievably decent lifestyles.
Thatcherism/Reaganism marked the end of that and since then vast quantities of wealth have been transferred to an ever decreasing band of super super rich.
Time for another "New Deal"

What part of 1945-79 was better than 2017 for the average man, woman or child in Ireland? If I'd been born then I'd have had to emigrate from Ireland to work like my father.

You could buy a house on one salary.
People got payrises.
Banks didn't collapse
There were no economic crashes
Debt related suicides were unheard of
Society was more creative because the money was spread around

The economy was in deeper shìt then with huge immigration and the welfare supports you complain about were no where near as strong as they are now.

Far too many people fall into this trap of believing life was better in the olden days. It wasn't.

You are confusing 2 things Syf.
The system by which money was distributed was far batter because it was focused on general well-being.
But there were no iPhones.

Wait s few years and people realise their pensions won't be paid. Neoliberalism sucks

[Syferus]

Correct in your last sentence Seaf as huge numbers of ordinary people got to have unbelievably decent lifestyles.
Thatcherism/Reaganism marked the end of that and since then vast quantities of wealth have been transferred to an ever decreasing band of super super rich.
Time for another "New Deal"

What part of 1945-79 was better than 2017 for the average man, woman or child in Ireland? If I'd been born then I'd have had to emigrate from Ireland to work like my father.

You could buy a house on one salary.
People got payrises.
Banks didn't collapse
There were no economic crashes
Debt related suicides were unheard of
Society was more creative because the money was spread around

The economy was in deeper shìt then with huge immigration and the welfare supports you complain about were no where near as strong as they are now.

Far too many people fall into this trap of believing life was better in the olden days. It wasn't.

You are confusing 2 things Syf.
The system by which money was distributed was far batter because it was focused on general well-being.
But there were no iPhones.

Wait s few years and people realise their pensions won't be paid. Neoliberalism sucks

That is complete and utter nonsense with no basis in fact.

[Eamonnca1]

The Central Bank was supposed to take the hit.

The US Treasury Department bailed out the banks in 2008. Does that mean the Fed is not a proper lender of last resort? Is the Fed not a proper central bank?

The Fed is, Eamonn. The ECB is not

Why?

[seafoid]

The Central Bank was supposed to take the hit.

The US Treasury Department bailed out the banks in 2008. Does that mean the Fed is not a proper lender of last resort? Is the Fed not a proper central bank?

The Fed is, Eamonn. The ECB is not

Why?

Because the Germans and the Dutch were worried about moral hazard, bailing out Italian and Spanish banks.

[Eamonnca1]

And how does that lead you to think the ECB isn't a "proper" central bank or a lender of last resort?