The Big Bailout of the Eurozone (Another crisis coming? - Seriously)

[Main Street]

That Kelly article is fascinating.
We have had to witness the salivating Vincent Browne, worshipping at the economic altar of Honohan for the past 2 years.
It was about time somebody like Kelly exposes Honohan as little more than an agent of the ECB, a man who knew the figures and who actively worked on behalf of the ECB to deceive the Irish public and government.
And just as I had previously thought, the IMF encouraged and would have supported a bankrupt Irish State to assign a large proportion of bond debts to the bin.

[gallsman]

Loan rate reduction looking more than likely.

http://www.bbc.co.uk/news/business-13321551

[whiskeysteve]

Loan rate reduction looking more than likely.

http://www.bbc.co.uk/news/business-13321551

a gesture so pathetic its a slap in the face. Irrelevant to the overall picture.

may as well be a 1% increase for all the difference it will make. throwing a bone to the tubes who run/ran the country, good doggy.

It will be truly pathetic if this is lauded as an achievement.

[muppet]

Loan rate reduction looking more than likely.

http://www.bbc.co.uk/news/business-13321551

a gesture so pathetic its a slap in the face. Irrelevant to the overall picture.

may as well be a 1% increase for all the difference it will make. throwing a bone to the tubes who run/ran the country, good doggy.

It will be truly pathetic if this is lauded as an achievement.

Kelly estimates our total debt will be around €250bn in a couple of year.

Reducing the bailout rate by 1% reduces the interest on €85bn of that only. This would reduce the interest on this portion from €4.9bn p/a to €4.08bn. A drop in the ocean compared with the amount we have to repay.

BTW how on earth can both Greece and Portugal (rumoured) have a lower interest rate borrowing from the same sources? Exactly how useless were our negotiators?

That Kelly article is a real eye opener. It must be very difficult for someone like Kelly who has been calling it right for at least 5 years now yet no one listens to him.

For those who don't know who Morgan Kelly is here is Prime Time 17/04/2007 as a 'doomsayer' telling us we are going to have a crash of up to 50% of values. You might want to punch your laptop listening to Jim Power of Friends First telling us the fundamentals were sound:
http://www.youtube.com/watch?v=Gd6ZwqLePC0

Here he is on the night after the bank guarantee on the 30/08/2008 telling us the banks are screwed. I know most people have seen this but it is comical to listen to the experts, Keenan from the Indo and the Bloxhams guy, quoting Deutche Bank, RBS and Morgan Stanley and sneering at him:
http://www.youtube.com/watch?v=11CCxv2ueiQ&feature=related

[muppet]

Thinking more about Morgan Kelly speaking out when he did, he was called a doomsayer, told to commit suicide by Bertie and best of all people like Jim Power said that he was wrong about a crash but if it did happen, that it would be the fault of people like Morgan Kelly for talking us into it.

The guy deserves our thanks at the very least.

Now for a laugh here is Patrick Neary on Prime Time in October 2008. It is so pathetic now it is actually funny.
http://www.youtube.com/watch?v=UuHRulXfzGA

[gallsman]

Jim Power was supposed to teach me economics last year but didn't because the institution couldn't guarantee him a regular parking space.

[seafoid]

Thanks for the Jim Power video,  muppet. It's fascinating.

[muppet]

ECB denying rumours that Greece are going to pull out of the Eurozone!!!!!!

The Government needs to keep their heads  for a few months and our situation could improve nicely.

http://www.guardian.co.uk/business/ireland-business-blog-with-lisa-ocarroll/2011/may/09/ireland?CMP=twt_gu

Greece's problem is a gift to Ireland

[muppet]

Wohoooo a new irish record!

[armaghniac]

I'd nearly be inclined to buy a bond at this rate. If things work out you double your money, if they knock a third off then you still do as well as any other investment and if they knock off more it would be a capital loss and useful for tax (if you have a better investment somewhere else).

[Declan]

Some interesting stuff here for fans of Mcwilliams!
http://www.finfacts.ie/irishfinancenews/article_1022253.shtml

[Denn Forever]

Some interesting stuff here for fans of Mcwilliams!
http://www.finfacts.ie/irishfinancenews/article_1022253.shtml

So McWilliams is wrong too?  Do we believe what Morgan Kelly now?  What does Eddie Hobbs say?

[seafoid]

Some interesting stuff here for fans of Mcwilliams!
http://www.finfacts.ie/irishfinancenews/article_1022253.shtml

So McWilliams is wrong too?  Do we believe what Morgan Kelly now?  What does Eddie Hobbs say?

What does Eddie Hobbs know about economics ?   

[muppet]

Some interesting stuff here for fans of Mcwilliams!
http://www.finfacts.ie/irishfinancenews/article_1022253.shtml

So McWilliams is wrong too?  Do we believe what Morgan Kelly now?  What does Eddie Hobbs say?

Eddie is against any burning of bondholders. Instead he suggests we should lightly tickle them with feathers until they agree to write off some of the debt.

[ludermor]

Some interesting stuff here for fans of Mcwilliams!
http://www.finfacts.ie/irishfinancenews/article_1022253.shtml

So McWilliams is wrong too?  Do we believe what Morgan Kelly now?  What does Eddie Hobbs say?

What does Eddie Hobbs know about economics ?

http://en.wikipedia.org/wiki/Economics  im pretty sure Eddie learnt everything from the link above.