Mc Williams – Lenihan’s Scorched Earth Economics

consultant

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they do not want to advertise X as X is a very big figure when you take derivitives and rolled up interests into account.

Y is the figure they do not know - this is reliant on understanding X (which they don't want to know) and forecasting (which they can't do properly)
Y is reliant on a lot of things such as
how are loans performing - performing means repaying something between 1 euro a month and full installment
how much are your non performant loans
Interest charges on borrowed money,
Anglo bond yields
NAMA interventions
investment bank (nama minor) performance.

objectivity is required and this is a political no - no as they must spin Y to there advantage.


In short they haven't a clue and don't have the capacity or will to come up with a plausible Y.
Whatever Y they come up with will be wrong and they know it -

That is the scorched earth policy - this is delaying the allies so that the Nazis can destroy as much as they can before the inevitable arrives.

Thanks for the reply - if not the illumination!!

To paraphrase, therefore, they know there is a BIIIIIG problem but don't want to know how big BIIIIIG is. Right?

And, if they don't know how big BIIIIIG is and can't, therefore, come up with a cohesive plan to fix it, they just throw more billions into the hole hoping to make an impression. Also right?
 


FakeViking

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Thanks for the reply - if not the illumination!!

To paraphrase, therefore, they know there is a BIIIIIG problem but don't want to know how big BIIIIIG is. Right?

And, if they don't know how big BIIIIIG is and can't, therefore, come up with a cohesive plan to fix it, they just throw more billions into the hole hoping to make an impression. Also right?
You have to ask who benefits? St Lenny is intent on handing over a smoking wreck with zero prospects so that he can make a comeback in a few years time, promising us another boom just like the last one.
 

consultant

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You have to ask who benefits? St Lenny is intent on handing over a smoking wreck with zero prospects so that he can make a comeback in a few years time, promising us another boom just like the last one.
Yes, I realise that.

It just gets me that, regardless of the issue, the government always has to wait for studies and reports before it can either give out information or even start to do something - let alone get anything done.

I fail to see how it is taking more than two years to be able to quantify the extent of the banks issue and particularly, the Anglo issue.

It beggars belief.
 

farnaby

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It just gets me that, regardless of the issue, the government always has to wait for studies and reports before it can either give out information or even start to do something - let alone get anything done.
Because we have bad managers in charge, not the good leaders that we need. Managers focus on collecting information, over actually making decisions. Bad managers can't even put the right information together. Leaders get what information is necessary and make prompt decisions. Good leaders get it right.
 

farnaby

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Maybe we should just implement a coup and install McWilliams as dictator, he seems to have more cop on than the collective body politic and some idea how to sort the whole mess out.
Well he's a populist, so I see him in the mould of Latin American presidents who have their own 4 hour tv show every sunday. That would suit McWilliams down to the ground...
 

Asparagus

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Thanks for the reply - if not the illumination!!

To paraphrase, therefore, they know there is a BIIIIIG problem but don't want to know how big BIIIIIG is. Right?

And, if they don't know how big BIIIIIG is and can't, therefore, come up with a cohesive plan to fix it, they just throw more billions into the hole hoping to make an impression. Also right?
Almost 100% correct but you have to remember that they must deliver a reasonably plausible estimation or the house of cards will fall as the bond markets refuse our next auction.

We then need to go to the IMF. We are already paying over 1% more to borrow from the open market than we can get from the eu stabilit fund.
So we borrow at 6 and lend to greece at 5.

Everything they do is done to stop or delay the truth coming out - once the IMF, the EU, Michael Noonan. Richard Bruton whoever gets to see the real picture the truth will out.

The ff spinconomists are cooking up a fairytale - the only thing they are economic with is the truth.
 

consultant

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Almost 100% correct but you have to remember that they must deliver a reasonably plausible estimation or the house of cards will fall as the bond markets refuse our next auction.

We then need to go to the IMF. We are already paying over 1% more to borrow from the open market than we can get from the eu stabilit fund.
So we borrow at 6 and lend to greece at 5.

Everything they do is done to stop or delay the truth coming out - once the IMF, the EU, Michael Noonan. Richard Bruton whoever gets to see the real picture the truth will out.

The ff spinconomists are cooking up a fairytale - the only thing they are economic with is the truth.
As well as the books, no doubt - 'Beano' Annuals??
 

Asparagus

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As well as the books, no doubt - 'Beano' Annuals??
The beano has more credibility

But heres the line up

Cabinet
Biffo the Bear
Mary the sweary Minx
Mary the (Health) Menace and gnHSEr
Desperate Brian **
Micheal Wizz
Dermot The Dodger
rest of the cabinet
The Bash Street Front Bench

Back Bences
the Numbskulls


** from the dandy.
 

Badmed

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Particularly when the current government seem to have a "unique" understanding of liquidity, as we saw in Galway.
 

hammer

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Economist David McWilliams has chronicled Ireland's boom and bust and now his media firm has suffered its own reversal of fortunes.

New accounts show accumulated profits at the media firm, Iconic Media Ltd, plummeted by more than €500,000 last year.

They reveal that, at the end of March last year, the company was sitting on accumulated profits of €592,572, compared to €1.094m in March 2016 - a drop of €505,205.

The accounts filed with the Companies Office revealed the reason behind the sharp drop in wealth at his firm related to a hefty write-down in the valuation of the company's investments. The value of the company's investments reduced by €879,124, going from €1.59m to €721,161 in the year under review.


So he doesn`t actually have ALL the answers it seems.
 

Man or Mouse

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Economist David McWilliams has chronicled Ireland's boom and bust and now his media firm has suffered its own reversal of fortunes.

New accounts show accumulated profits at the media firm, Iconic Media Ltd, plummeted by more than €500,000 last year.

They reveal that, at the end of March last year, the company was sitting on accumulated profits of €592,572, compared to €1.094m in March 2016 - a drop of €505,205.

The accounts filed with the Companies Office revealed the reason behind the sharp drop in wealth at his firm related to a hefty write-down in the valuation of the company's investments. The value of the company's investments reduced by €879,124, going from €1.59m to €721,161 in the year under review.


So he doesn`t actually have ALL the answers it seems.
:D
 

hammer

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Doomsters will be in shock.

Is he the man to tell us how the property market will behave ?

He has predicted another collapse.

When David, when ?
 

Deadlock

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Economist David McWilliams has chronicled Ireland's boom and bust and now his media firm has suffered its own reversal of fortunes.

New accounts show accumulated profits at the media firm, Iconic Media Ltd, plummeted by more than €500,000 last year.

They reveal that, at the end of March last year, the company was sitting on accumulated profits of €592,572, compared to €1.094m in March 2016 - a drop of €505,205.

The accounts filed with the Companies Office revealed the reason behind the sharp drop in wealth at his firm related to a hefty write-down in the valuation of the company's investments. The value of the company's investments reduced by €879,124, going from €1.59m to €721,161 in the year under review.


So he doesn`t actually have ALL the answers it seems.
😈

Karma be a be-atch
 

hammer

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He must not invest in property it seems.

83% gain since 2013 or so.

And about 10% in the last year alone.
 

wombat

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The company accounts of media personalities often reflect the owner taking a PAYE job - I think McWilliams is on staff at a college?
 


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