Register to Comment
Page 1 of 21 123 11 ... LastLast
Results 1 to 10 of 208
Like Tree182Likes
  1. #1
    Radix Radix is offline

    Join Date
    Aug 2010
    Posts
    9,183

    Is It Not Time to Shout Stop to this Race to the Bottom?

    I'm going to be quite frank here, and this is based on almost four years of an observance of a race to some kind of bottom, currently being given the nod by a seemingly uncaring and very distant Government who live at a remove from reality as I see it.

    I wear a few hats here, but chiefly among them, I am a company director, I am a father and am very lucky to have a supporting and loving wife, I am also linked with an organisation (I can't say to what degree), which is trying to help people primarily in financial difficulty.

    What I have seen, both in business and in my capacity of being responsible for a budget which the organisation of which I am a member, disbursing significant sums of money to the more needy emerging in an ever increasing number year on year, is becoming quite frightening.

    From a business perspective alone, I see companies laying off staff, and ultimately/eventually closing their businesses. I have been made aware of some owners of such businesses who have ended their lives by suicide, one of them someone I did business with, and thankfully owed no money to.

    The day to day realities faced by people in business are simply frightening. One of our self employed customers for example, is an employer who is close to the edge judging by the furrowed lines on his brow. He gets daily calls from the bank which financed his business, and I discovered recently that not only has he not been able to pay himself a wage for almost a year, he and his family spent last Christmas in the cold because he couldn't afford to put oil in the tank of their home. He faces the prospect of his bank selling his business of many decades standing, and landing him with a bill for the difference between what they firesale it at, and what he owes them, a sum he will never be able to pay.

    On top of that, his accountant 'sold' him a property he didn't need or want, on the basis that his tax position 'required' it. He discovered afterwards that his accountant was linked to the developer of the same property scheme.

    Another customer in a similar type of situation needed help which I could (and did), give him wearing my other hat, so we had to write off his debts as well for fear of a conflict of interest situation.

    Meanwhile our own bank is breathing very heavily in our direction.

    Where is this all going to end up, if not on a scrapheap of sorts, given a seeming lack of fire in the bellies of our so called cosseted 'leaders' to call a halt to this madness?
    Sign in or Register Now to reply

  2. #2
    ger12 ger12 is offline
    ger12's Avatar
    Join Date
    Feb 2011
    Posts
    19,743

    What do you want our "leaders" to do to address this?
    Sign in or Register Now to reply

  3. #3
    Sync Sync is offline
    Sync's Avatar
    Join Date
    Aug 2009
    Posts
    33,612

    I don't get what race to the bottom you're talking about. You've described someone who's made bad business decisions who sounds like he needs to file for bankruptcy. What do you want people to do about that?
    Sign in or Register Now to reply

  4. #4
    neiphin neiphin is offline
    neiphin's Avatar
    Join Date
    Aug 2009
    Posts
    6,413

    Quote Originally Posted by Sync View Post
    I don't get what race to the bottom you're talking about. You've described someone who's made bad business decisions who sounds like he needs to file for bankruptcy. What do you want people to do about that?
    i think thats very unfair from you
    1) it sounds like the bad busness decisions were made by his accountant
    2) if he went or goes into bankruptcy , more people will loose out

    you have some of the traits of a pyshycophant (sic)
    Sign in or Register Now to reply

  5. #5
    dresden8 dresden8 is offline
    dresden8's Avatar
    Join Date
    Feb 2009
    Posts
    12,328

    We're in a trap from which there is no escape.

    Thank you Fianna Fail.

    Now fnck off and die you bastards. Every last one of you.
    Sign in or Register Now to reply

  6. #6
    neiphin neiphin is offline
    neiphin's Avatar
    Join Date
    Aug 2009
    Posts
    6,413

    Quote Originally Posted by ger12 View Post
    What do you want our "leaders" to do to address this?
    i think thats a bit flippent, but, essentially thats what it comes down too
    the state cannot afford to bail out everyone, its probable that the wrong people were bailed allready
    and now we are stuck in a rut, so op the options are very limited
    Sign in or Register Now to reply

  7. #7
    EUrJokingMeRight EUrJokingMeRight is offline
    EUrJokingMeRight's Avatar
    Join Date
    Sep 2009
    Posts
    7,582

    There will be no bottom as long as there is a Euro currency. It is that simple.

    Sorry about the bad news, it wont get better anytime soon.
    Sign in or Register Now to reply

  8. #8
    Sync Sync is offline
    Sync's Avatar
    Join Date
    Aug 2009
    Posts
    33,612

    Quote Originally Posted by neiphin View Post
    i think thats very unfair from you
    1) it sounds like the bad busness decisions were made by his accountant
    2) if he went or goes into bankruptcy , more people will loose out

    you have some of the traits of a pyshycophant (sic)
    Not from the OP information. There's a failing business that's further lumbered with the property. If he doesn't feel the business can be turned around then he needs to exit. When you hit the stage where you can't pay for electricity then you've gone past the point of waiting for the economy to turn around and help you out.
    Sign in or Register Now to reply

  9. #9
    tonic tonic is offline

    Join Date
    Dec 2009
    Posts
    25,552

    Quote Originally Posted by Radix View Post
    Meanwhile our own bank is breathing very heavily in our direction.

    Where is this all going to end up, if not on a scrapheap of sorts, given a seeming lack of fire in the bellies of our so called cosseted 'leaders' to call a halt to this madness?
    I hear you.

    It's impossible to say as yet how soon this economic situation will end, but end it will. The silver lining for Ireland is that most of us are still saving over 12% and we're still paying down individual debt which means income is not the problem, confidence is and confidence can be turned quite quickly. This now has to be the top priority of the Government, if the slide in confidence isn't stopped and reversed, there won't be an economy or budget to get back to.

    As for your bank, breathe fire back at the bastards.
    Sign in or Register Now to reply

  10. #10
    SideysGhost SideysGhost is offline

    Join Date
    Nov 2009
    Posts
    13,934

    Quote Originally Posted by dresden8 View Post
    We're in a trap from which there is no escape.


    Quote Originally Posted by dresden8 View Post
    Thank you Fianna Fail.

    Now fnck off and die you bastards. Every last one of you.
    The system looks after its own. And at every point over the next 20 years you'll still have various FF/FG/Lab cronies squatting on all the levers of power in all the actual decision-making positions in Irish society, screwing the peasants and looking after their own. The country is irredeemably corrupt. Armed revolution or emigration are the only viable choices, and the chances of revolution are zero after 40 years of Good Dog Harrisite lunatic propaganda all over the media - and centuries of conservative fearful Front Parlourism - messing with the heads of the populace.
    Sign in or Register Now to reply

Page 1 of 21 123 11 ... LastLast
Sign in to CommentRegister to Comment