David McWilliams - "Who’ll invest in a country with an obvious death wish?"

cozzy121

Well-known member
Joined
May 26, 2009
Messages
5,168
Who

Good one for David, showing how out of touch ff are with the country and how this is killing the economy.

Against this background, the people who run the country make announcements about ‘‘front loading’’ budget cuts as if budget cuts are some sort of clean arithmetic, which has no impact on the economics.
This is not arithmetic, it is economics and, in economics, everything is related.
On paper, arithmetic can look clean and incisive, but in reality it affects jobs and people’s decisions to spend.
But the incompetent lads who run this country don’t understand this. They got all macho on us last week and made the big announcement on the budget that was supposed to prove that Ireland could take the ‘‘hard’’ decisions.
And what happened? The market laughed in their faces. Everyone can see through the corny schoolboy language of our regime.
We all know that there is nothing hard about writing a cheque for rich investors in Anglo while at the same time, cutting the health budget for the poorest.
So when the governing insiders tell a prospective investor not to worry because the plan is ‘‘screw the people and look after the bank investors, rather than the bank customers’’, who can blame the investor for running a mile.

It looks like ff economic policy is to wreck the economy so it'll take a generation to fix. Those traitorous bastards.
 


seanmacc

Well-known member
Joined
Jan 10, 2009
Messages
1,016
Mc. Williams is the sort of person Bertie Aherne wanted to commit suicide a couple of years ago.

There is light at the end of the tunnel, there is no way that the budget will be passed and there will be an election in the new year.
 

HarshBuzz

Well-known member
Joined
Feb 28, 2008
Messages
11,815
There is light at the end of the tunnel, there is no way that the budget will be passed and there will be an election in the new year.
and what difference will this have on the fundamentals?

(don't get me wrong, I'll be delighted to see FF reduced to what they deserve - irrelevance)
 

Social Conscience

Well-known member
Joined
Oct 27, 2010
Messages
1,273
Mc. Williams is the sort of person Bertie Aherne wanted to commit suicide a couple of years ago.

There is light at the end of the tunnel, there is no way that the budget will be passed and there will be an election in the new year.
What makes you so confident of the budget not been passed?
 

HarshBuzz

Well-known member
Joined
Feb 28, 2008
Messages
11,815
Tesco investing heavily and they are no slouches in understanding where to invest.
neither are the bond markets

hmm, I'm confused. Guess I'll stick with what I know and the bond and CDS markets are telling me Ireland is bust.
 

Future

Active member
Joined
Sep 25, 2010
Messages
218
I prviously thought very highly of David McWilliams but now his article in the Indo has turned into populist garbage.

All his proposals seem to add to the national debt which the markets already think is going to be become unmanageable!

Also why is it that no economists can really agree with eachother? And surely its the economic advisors like Alan Ahearne that are telling the government the best course of action?
 

Franzoni

Well-known member
Joined
Mar 3, 2010
Messages
16,327
http://www.politics.ie/kildare/141628-cowen-opens-113-million-tesco-naas-providing-266-jobs.html

Tesco investing heavily and they are no slouches in understanding where to invest.
Yeah that will put a big dint in the unemployment figures....:rolleyes:

I notice your not so quick to post about the amount of businesses closing down or the amount of the self employed who will find themselves in a very bad way after this budget kills whatevers left of the economy...

Everyone will be shopping in Lidl or Aldi anyway..thats why their lashing all the other supermarket chains out of it these days because their cheaper and the euro goes a lot futher.......
 

HarshBuzz

Well-known member
Joined
Feb 28, 2008
Messages
11,815
surely its the economic advisors like Alan Ahearne that are telling the government the best course of action?
yes that would explain their rational decision-making process over the last couple of years :rolleyes:
 

Future

Active member
Joined
Sep 25, 2010
Messages
218
yes that would explain their rational decision-making process over the last couple of years :rolleyes:
Not making any excuses for the government just making the point that Ahearne has a large influence on econmic policy, yet McWilliams never seems to reference this and attack a member of his profession.

Its grand for McWilliams to say these things but the reality is different. The EU, IMF and markets want the cuts to happen. What do we do ignore them and not be able to borrow money?
 

Mission Rock

Member
Joined
May 24, 2007
Messages
79
Not making any excuses for the government just making the point that Ahearne has a large influence on econmic policy, yet McWilliams never seems to reference this and attack a member of his profession.

Its grand for McWilliams to say these things but the reality is different. The EU, IMF and markets want the cuts to happen. What do we do ignore them and not be able to borrow money?
So you say. I've never heard the markets telling us they want cuts to happen, but I have seen how the markets have reacted to cuts, and the prospect of more. They've reacted as if Ireland is toxic.
 

FlyOver

Active member
Joined
Feb 22, 2010
Messages
127
http://www.politics.ie/kildare/141628-cowen-opens-113-million-tesco-naas-providing-266-jobs.html

Tesco investing heavily and they are no slouches in understanding where to invest.
Odie...I think Tesco's desire to invest in Ireland has less to do with seeing future growth of Ireland and more to do with the 'rip-off' margins they can get from the Irish!!! Ireland is the last EU country that Tesco can get huge margins, so of course they will expand here :rolleyes:

As for DW, he is right in asserting that writing up budgets has unforeseen circumstances. That is why economics is such a cloudy science and not all nice and neat like accounting. I'm sure that the 4 year budget will look like a doable road map but what it does to society and peoples lives is unforeseen.
 

HarshBuzz

Well-known member
Joined
Feb 28, 2008
Messages
11,815
They've reacted as if Ireland is toxic.
there's a simple explanation for that, it is toxic

bust banks
bust state
bust populace
 

Iarmhi Gael

Well-known member
Joined
May 2, 2007
Messages
3,840
Joined
Aug 6, 2007
Messages
22,622
Odie...I think Tesco's desire to invest in Ireland has less to do with seeing future growth of Ireland and more to do with the 'rip-off' margins they can get from the Irish!!! Ireland is the last EU country that Tesco can get huge margins, so of course they will expand here :rolleyes:

Nope because Tesco has lots of opportunities for expansion worldwide and its margins are in line with Irish market.
 
Joined
Aug 6, 2007
Messages
22,622
Any idea how much investment Tesco have done on new sites since 2009?

Alot of these sites were bought circa 2006 and plans well under development before any downturn
Is this Ireland or Worldwide ?

Just because they own a site doesn't mean they will develop it, irrespective of the cost, they have land banked sites in UK for 15 years with no plan to build YET.
 

MPB

Well-known member
Joined
Nov 27, 2009
Messages
4,455
Not making any excuses for the government just making the point that Ahearne has a large influence on econmic policy, yet McWilliams never seems to reference this and attack a member of his profession.

Its grand for McWilliams to say these things but the reality is different. The EU, IMF and markets want the cuts to happen. What do we do ignore them and not be able to borrow money?
The markets never told anybody to cut.

The markets are telling us our Bank guarantee has bankrupted the country and crippled our capacity to deal with our deficit.

We will owe 120 billion shortly. 60 billion of which is private Bank debt that had nothing to do with the sovereign, until the idiot we call a minister of finance got his hands on it.
 


New Threads

Popular Threads

Most Replies

Top