Colm McCarthy brilliant on Marian RTER1 Show

Abacus

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Marian Finucane show on RTE Rad 1 right now and it's powerful stuff.
Super panel : Colm McCarthy, Michael O'Regan, Tom Parlon, Catherine McGuinness and ors.
Colm McCarthy, in particular was outstandingly good. He is at his best when he is firing from the hip as he has such insightful and intimate knowledge that he can hit the target at will with deft pungent sniper shots that leave a lasting impression on the listener and send his detractors reeling.

But all the panel made telling contributions. If you didn't hear, then you should cos there's a whole lot of home truths laid bare right there and some remedies too. Best Marion Show in a long time.

Some,I know, will worry about what lies ahead.
Interesting times in 2011 AD, methinks.
 


He3

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Brussels - world capital of mission-creep, says McCarthy.
 

Grumpy Jack

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Marian Finucane show on RTE Rad 1 right now and it's powerful stuff.
Super panel : Colm McCarthy, Michael O'Regan, Tom Parlon, Catherine McGuinness and ors.
Colm McCarthy, in particular was outstandingly good. He is at his best when he is firing from the hip as he has such insightful and intimate knowledge that he can hit the target at will with deft pungent sniper shots that leave a lasting impression on the listener and send his detractors reeling.

But all the panel made telling contributions. If you didn't hear, then you should cos there's a whole lot of home truths laid bare right there and some remedies too. Best Marion Show in a long time.

Some,I know, will worry about what lies ahead.
Interesting times in 2011 AD, methinks.
MCarthy is an economist and has as much credibility and relevance as every other economist - ie, none.

Their's is not a definite science based on hard facts and definite figures but an alchemy based on assumpitions and wildly optimistic/pessimistic predictions which seldom bare any relation to reality.

Irish economists have been consistently and spectacularly wrong over the last 30 years - why would any sane person listen to anything any of them have to say now?

McCarthy's medicine will kill off what is left of the economy and then stand back and blame the politicians who blindly follow his - like all of his ilk always do.
 

bokuden

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Quote from James Heckman; Economist and Nobel Laureate:

"I wish I knew more and I wish our profession did.Macro economics is not a science, it's a patchwork of theorems and bad data. There is little serious work on the subject, which seems dominated by beliefs."

I said it before and I'll say it again: Economists are spoofers who don't deserve to be paid for their "work". It's a load of guesswork.

The Mcarthy report could have been done by pretty much anyone on this forum on the back of a beermat. In fact, it probably has!
 

olamp

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MCarthy is an economist and has as much credibility and relevance as every other economist - ie, none.

Their's is not a definite science based on hard facts and definite figures but an alchemy based on assumpitions and wildly optimistic/pessimistic predictions which seldom bare any relation to reality.

Irish economists have been consistently and spectacularly wrong over the last 30 years - why would any sane person listen to anything any of them have to say now?

McCarthy's medicine will kill off what is left of the economy and then stand back and blame the politicians who blindly follow his - like all of his ilk always do.
Are you an ostrich?
 

Grumpy Jack

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Are you an ostrich?
Far from it - I've just seen too many economists get it so wrong over the last 30 years that I simply no longer believe or trust anything any of them say. They have as much credibility as politicians.
 

Davidoff

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On the contrary, economics is little more than common sense.

You don't need someone with a PhD to point out that the State can't forever spend 20bn a year more than it raises in taxes.
 

dent

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Typical FF biased panel from F.f.finucane.
 

GDPR

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Far from it - I've just seen too many economists get it so wrong over the last 30 years that I simply no longer believe or trust anything any of them say. They have as much credibility as politicians.
McCarthy is exceptional for an economist, he deals exclusively with reality.
He talks sense based on the information we have and the reality as it is. That's largely why some people don't like him.
 

controller

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If I hear Tom "The Builder" Parlon...........I switch over...always
 

king5494

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Far from it - I've just seen too many economists get it so wrong over the last 30 years that I simply no longer believe or trust anything any of them say. They have as much credibility as politicians.
It's only in the last 30 years or so that they stopped calling themselves political economists as in reality that's what they are as they approach economics from a political believe within themselves.

McCarthy is a right wing Capitalist AKA ************************ the people.
 

Grumpy Jack

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It's only in the last 30 years or so that they stopped calling themselves political economists as in reality that's what they are as they approach economics from a political believe within themselves.

McCarthy is a right wing Capitalist AKA ************************ the people.
McCarthy was one of the intellectual driving forces behind the PDs - people either don't know that, have forgotten it or conveniently ignore it.
 

Boy M5

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Quote from James Heckman; Economist and Nobel Laureate:

"I wish I knew more and I wish our profession did.Macro economics is not a science, it's a patchwork of theorems and bad data. There is little serious work on the subject, which seems dominated by beliefs."

I said it before and I'll say it again: Economists are spoofers who don't deserve to be paid for their "work". It's a load of guesswork.

The Mcarthy report could have been done by pretty much anyone on this forum on the back of a beermat. In fact, it probably has!

No its a serious (social) science. Those of us with a background in economics could see which way the economy was headed in terms of competitiveness in 2001/2, definitely by 2004 we knew there'd be a very hard landing as it was a classic property bubble.


Yes there were some economists who failed miserably, those who worked for the financial institutions. McCarthy wasn't one of them.

What lies ahead - I can only suggest the magesterial "This time its different" by Ken Rogoff & Carmen Reinhart

Amazon.com: This Time Is Different: Eight Centuries of Financial Folly (9780691142166): Carmen M. Reinhart, Kenneth Rogoff: Books: Reviews, Prices & more

There's also an abstract available if you google the book.
 

Boy M5

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If I hear Tom "The Builder" Parlon...........I switch over...always

Same.

If its Jim "credibility bypass" Power then I oftentimes throw the radio out the window in a fit of rage.
 

Murph

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McCarthy is not just an economist but a Right Wing one and thats the only reason why we hear about and from him. Sounds to me that panel all come from the same stock!
 

gatsbygirl20

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McCarthy was one of the intellectual driving forces behind the PDs - people either don't know that, have forgotten it or conveniently ignore it.
McCarthy himself has admitted--in an under-reported speech at some Scottish wing-ding----that Snip Nua was largely a political tool to ease the government's imposition of cuts on the PS. The important thing was, he explained, to get the media on-side. In other words, the minutaie of Snip Nua were not the issue. It was to get the populace singing from the same hymn sheet.

It has errors and seems to be a pretty hastily flung -together report. But sure it did the job before last year's budget anyway.

Mc Carthy's PD involvement will surprise many people. He is a consummate performer, with that well-honed ordinary Dub, world-weary, straight-talking accent down to perfection. Not a trace of the UCD lecturer when he strolls down the road to the RTE studio.

His whole persona is some p1ssed-off working class guy who would rather be having a pint with the lads, but is obliged to slowly explain to all these numbskulls, how he might just be able to fix the economy for them if they would just shut up and listen for a minute.
Love to hear him defending FF decisions while pretending to be all of the above. Brilliant cover.
 

DJCB33

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RTE's PD nostalgia love in documentary from a few months ago was a real eye opener, McCarthy and a couple of others who have copyright on the PD's intellectual property sitting in a pub having a laugh and chatting about old times, no regrets. This is the party who basically used McCreevy as a sleeper agent within FF to get neo liberal budgets through, a very important factor in getting us where we are, McCarthy then gets charged with slicing and dicing the PS. Its akin to having a Democratic Left founder reviewing corporate tax rates.

The general deference shown to McCarthy is bizarre.
 


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