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Back to the Markets..........


nonpartyboy

Well-known member
Joined
Dec 24, 2006
Messages
6,853
Everyday i hear the same crap, about getting back to the market........hayes now on primetime spouting it, noonan, gilmore kenny etc.

Answer me 1 simple question ?

We exit the bailout programme, we go back to the markets......who the hell is going to give us the money to bridge the current budget deficit ? PLEASE TELL ME, because i can't wait to here this one........
 


culmore

Well-known member
Joined
Jun 14, 2010
Messages
3,187
why not stay in the Bail out system, its cheaper money, only a few conditions attached and that might be a good thing
 

Con Gallagher

Well-known member
Joined
May 25, 2010
Messages
2,413
Shure a deficit of 8.2% after 5 austerity budgets is a great success. We can still pay the chief 200k, school leavers can still claim the dole for life, few public servants can be sacked for incompetence, the quango cull is yet to occur and no senior bondholders has been left behind. Horray! (But if only a prominent economist could do a report to snip public spending projects)
 

DownTheyGo

Well-known member
Joined
Dec 4, 2010
Messages
5,314
Shure a deficit of 8.2% after 5 austerity budgets is a great success. We can still pay the chief 200k, school leavers can still claim the dole for life, few public servants can be sacked for incompetence, the quango cull is yet to occur and no senior bondholders has been left behind. Horray! (But if only a prominent economist could do a report to snip public spending projects)
So what about my space exploration programme? Rockin'?
 

curiousorange

Well-known member
Joined
Apr 29, 2011
Messages
1,859
Everyday i hear the same crap, about getting back to the market........hayes now on primetime spouting it, noonan, gilmore kenny etc.

Answer me 1 simple question ?

We exit the bailout programme, we go back to the markets......who the hell is going to give us the money to bridge the current budget deficit ? PLEASE TELL ME, because i can't wait to here this one........
Because Ireland deserves to have the best paid PS workers in Europe, and low low low corporation tax at the same time. That's the why.

Somebody somewhere will fund it. Sure if the Germans won't I'm sure those nice lads on Wall Street will. We're Irish! The world loves us.
 

nonpartyboy

Well-known member
Joined
Dec 24, 2006
Messages
6,853
As i said, who do they think is going to fund this on the money markets.....so what are these dopes at ?

We are not going back to any markets, without being basically backed by the ecb full stop.
 
D

Deleted member 23684

Sovereignty is now solely defined as the ability to borrow from the markets. The government are determined to restore this version of sovereignty regardless. In fairness to them they have all learned the script well even if they have not a clue what it means.
 

nonpartyboy

Well-known member
Joined
Dec 24, 2006
Messages
6,853
Because Ireland deserves to have the best paid PS workers in Europe, and low low low corporation tax at the same time. That's the why.

Somebody somewhere will fund it. Sure if the Germans won't I'm sure those nice lads on Wall Street will. We're Irish! The world loves us.
Ah now, don't forget some of the best paid professions in the world, semi state workers, social welfare recipients, asylum seekers, quango fillers etc etc.
 

nonpartyboy

Well-known member
Joined
Dec 24, 2006
Messages
6,853
Sovereignty is now solely defined as the ability to borrow from the markets. The government are determined to restore this version of sovereignty regardless. In fairness to them they have all learned the script well even if they have not a clue what it means.
They are codding themselves, nobody will give us longterm money to fund this banana republic without the ecb standing 100% behind us.
 

DownTheyGo

Well-known member
Joined
Dec 4, 2010
Messages
5,314
They are codding themselves, nobody will give us longterm money to fund this banana republic without the ecb standing 100% behind us.
Anyone buying bonds of any kind today, be it bank or government, are "banking" on just that.
 

Con Gallagher

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Joined
May 25, 2010
Messages
2,413
That's why Bailout Two (sorry deal from our euro partners) comes in. Instead if bonds falling due in 2016/17, if Noonan wins his negotiations then he can defer the repayment for another few years, thereby leaving his successor free to borrow to fund current deficits for the next 2-7 years. Magic beans will supply the growth. (Just hopefully oil doesn't go up, interest rates stay at historically low levels, no major wars, US keeps needing our green field sites, the EU let's us continue to launder multinationals, our pension citrus doesn't materialize, etc etc).
 

curiousorange

Well-known member
Joined
Apr 29, 2011
Messages
1,859
That's why Bailout Two (sorry deal from our euro partners) comes in. Instead if bonds falling due in 2016/17, if Noonan wins his negotiations then he can defer the repayment for another few years, thereby leaving his successor free to borrow to fund current deficits for the next 2-7 years. Magic beans will supply the growth. (Just hopefully oil doesn't go up, interest rates stay at historically low levels, no major wars, US keeps needing our green field sites, the EU let's us continue to launder multinationals, our pension citrus doesn't materialize, etc etc).
The only aim will just be to fund Croke Part 2 until the next election. That's all that matters. Get the money for that, whether from the troika or the markets, and they're laughing. If they can't fund that then the government falls.
 

Kevin Doyle

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Joined
Jan 9, 2007
Messages
11,066
Because Ireland deserves to have the best paid PS workers in Europe, and low low low corporation tax at the same time. That's the why.
Tut tut, attacking MNCs?
 

Ryan Tubbs

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Joined
Sep 20, 2012
Messages
3,660
We exit the bailout programme, we go back to the markets......who the hell is going to give us the money to bridge the current budget deficit ? PLEASE TELL ME, because i can't wait to here this one........
What are you talking about? The very reason we're returning to the markets is to borrow money to bridge the deficit. If we had no deficit, then we wouldn't be going to the markets!

The Gov has already borrowed a serious amount of money this year to show that it can be done. So I'm not sure what you're on about.
 

SPN

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Joined
Feb 2, 2004
Messages
16,891
What are you talking about? The very reason we're returning to the markets is to borrow money to bridge the deficit. If we had no deficit, then we wouldn't be going to the markets!

The Gov has already borrowed a serious amount of money this year to show that it can be done. So I'm not sure what you're on about.
The deficit is 39% of tax revenues. Down from 51% of tax revenues last year.

Who in their right mind would lend to a State that overspends at such a phenomenal rate. Repeatedly.
 

Marvar88

Well-known member
Joined
Dec 13, 2010
Messages
2,926
The deficit is 39% of tax revenues. Down from 51% of tax revenues last year.

Who in their right mind would lend to a State that overspends at such a phenomenal rate. Repeatedly.
Stop spoofing.

I was on the thread where you fell across that figure, now you're throwing it around as if you're in the know.

Deficit is judged by GDP size, if we were to take your bullsh1t view, no one would lend to anyone.

Also how come at the last bond auction only a couple of weeks ago, investors were falling over themselves to offer us money at cheaper rates than the troika??????????????????

Welll????????

Spoofer. (Now wait to see can he find a way to put his 39% figure into his response)
 

SPN

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Joined
Feb 2, 2004
Messages
16,891
Stop spoofing.

I was on the thread where you fell across that figure, now you're throwing it around as if you're in the know.
Where I "fell across" that figure?

I've been quoting that figure for years now.




Deficit is judged by GDP size, if we were to take your bullsh1t view, no one would lend to anyone.
You had difficulty with ratios when you were in school I take it.

Deficit is OFTEN shown as a ratio to GDP. This allows one to do Deficit:GDP comparisons between different economies.

Deficit can also be shown as a ratio to tax revenues. This allows Deficit:Tax Revenue comparisons between different economies.

The Irish ratio is so far out of line with any other Country in the World that no sensible person/entity would lend to us at reasonable interest rates without the backup of the ECB OMT bailout.




Also how come at the last bond auction only a couple of weeks ago, investors were falling over themselves to offer us money at cheaper rates than the troika??????????????????

Welll????????
Lots of different reasons. Sovereign debt is where the herd is investing at the moment being the key one, and the reason John Corrigan stated on TV at the time.

Spoofer. (Now wait to see can he find a way to put his 39% figure into his response)[/QUOTE]
 

DownTheyGo

Well-known member
Joined
Dec 4, 2010
Messages
5,314
Stop spoofing.

I was on the thread where you fell across that figure, now you're throwing it around as if you're in the know.

Deficit is judged by GDP size, if we were to take your bullsh1t view, no one would lend to anyone.

Also how come at the last bond auction only a couple of weeks ago, investors were falling over themselves to offer us money at cheaper rates than the troika??????????????????

Welll????????

Spoofer. (Now wait to see can he find a way to put his 39% figure into his response)
You should read how deficit is judged in Irish terms, GDP vs. GNP.

Any of Karl Whelan's working paper series will get you there, albeit in your case, eventually.
 

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