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About LinkBacksSpreading by e-mail faster than a You Tube posting of Bertie falling down the stairs!Originally Posted by Digout
Spreading by e-mail faster than a You Tube posting of Bertie falling down the stairs!
Oh good grief...A number of our mortgage providers are headquartered in other Member States, such as: Ulster Bank, First Active, HBOS, IIB Homeloans, and NIB. So that Article does apply!
A demagogue is someone who will preach doctrines he knows to be untrue to men he knows to be idiots.
Any citizen or entity of an EU member state who owns or co-owns a non-new build house has been negatively affected by this scheme. Prospective buyers will be ignoring their assets in favour of new-build houses, because credit is available.
This is particularly acute in the case of non-Irish nationals who are currently owners of rented houses in Ireland. In many cases, their tenants are aspiring to own but cannot currently afford it because they are terrible candidates for credit. Now, this scheme will mean that despite having a high probability of defaulting, they´ll be getting loans to buy a house anyway!
I personally don´t have a huge amount of sympathy with any kind of landlord owning rented accomodation in Ireland, but the fact remains that this scheme will directly affect their commercial interests, thus satisfying the inter-state commerce requirement, to allow the EU to look into it.
The victims of this scheme are certainly not located solely in Ireland.
When you see the words "Mises" or "Hayek" in someone's post, just ask yourself: do I really want to ban paper money and go back to gold?
You have to pity the kind of people who buy into conspiracy theories. I find the following to be the saddest words on the internet: "Re: connection between Bilderberg puppet lady gaga and viral outbreak in ukraine "
The issue is whether it affects trade, not whether it affects citizens.
Now, please stop with this nonsense.
A demagogue is someone who will preach doctrines he knows to be untrue to men he knows to be idiots.
Trade involves assets. Much interstate business involves the securing of deals against various assets, including houses.
By directly reducing the income yield of rented houses, there is an inevitable knock-on cause-and-affect relationship with any trade secured in whole or in part by an Irish non new build house.
When you see the words "Mises" or "Hayek" in someone's post, just ask yourself: do I really want to ban paper money and go back to gold?
You have to pity the kind of people who buy into conspiracy theories. I find the following to be the saddest words on the internet: "Re: connection between Bilderberg puppet lady gaga and viral outbreak in ukraine "
That's classy stuff there GB.
As the bankers and landowners rule the 26 counties through their front institution in Leinster House, you can take it that Leinster House will do what ever its masters deem necessary.
An EU company which owns houses in Ireland can, in theory at lest, benefit from those different Stamp Duty rates. That´s why the EU hasn't asked any questions about them.
But this scheme injures non-Irish companies in Berlin, Madrid, London and Milan, and anywhere else that Irish developers have operations. Why? Because without this bailout, many of these Irish developers will go bust, closing down their Berlin, Madrid, London and Milan operations.
Non-Irish developers in Berlin, Madrid, London and Milan have to sink or swim based on their own business acumen. But their Irish-owned counterparts have a taxpayer safety net, courtesy of this plan.
See how this distorts trade? Builders all over Europe will be losing contract tenders to Irish companies, even though the free market has dictated that these companies should go bust, because no private firm is willing to loan enough money to pay for their products.
The rules of capitalism say that if a company charges more than the free market can bear, they should drop their prices and/or go bust.
The only way the European builders could compete is if they persuaded their governments to also give sub-prime loans at prime rates to high-risk borrowers.
As far as I know, there are currently no houses eligible for this scheme which were developed by an non-Irish company. Even if there are, the vast majority of companies benefiting from the programme are Irish companies, so it is a de facto state aid to the total or near-total exclusion of non-Irish companies.
You MIGHT have a point if this scheme was extended only to companies with zero EU operations outside the 26 counties. But I think a very big majority will have operations outside the 26.
Last edited by feargach; 26th October 2008 at 05:21 PM.
When you see the words "Mises" or "Hayek" in someone's post, just ask yourself: do I really want to ban paper money and go back to gold?
You have to pity the kind of people who buy into conspiracy theories. I find the following to be the saddest words on the internet: "Re: connection between Bilderberg puppet lady gaga and viral outbreak in ukraine "
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