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About LinkBacksOriginally Posted by cyberianpan
You claim to know what you are talking about cYp yet you come out with this nugget!
Plenty of changes were suggested by the anti-NAMA camp they were just ignored or blustered over.
You claim to know what you are talking about cYp yet you come out with this nugget!
Plenty of changes were suggested by the anti-NAMA camp they were just ignored or blustered over.
Too many lies around NAMA
1) International investors will not lend to us – credit rating has been recently reduced even with NAMA
2) Banks will not lend to business – they will not lend anyway
3) NAMA will punish developers – but public never will know that it was done
etc, like, NTMA is the best part of public services and will manage NAMA assets well
What is reason to trust something, which is surrounded by lies?
“Every country has the government it deserves.”
Joseph De Maistre
Not only should Lenny not be finance minister, he should be in jail. Check this out re: Anglo.
Ireland’s notification to the European Commission – The Story
Hee hee! Yeah apart from shoddy services badger you with red tape while you are trying to be enterprising.
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"No one rules if no one obeys" - Tao
Shut up you arrogant git.
I have written here many times about the supply and demand fundemental issue of NAMA. 300,000 Supply of housing units. 15,000 units at most current demand. Even at the height of the boom it was 45,000 units annual demand.
Natural Market Equilibrium is less than 50,000 Euro median for a house, 250,000 less than NAMA requires.
The force of market externality required to create that shift in both the demand and supply curve need to be astronomical something in the region of the gravititational pull of a red hot supergiant Sun. NAMA trying to support the Housing Market is akin to a rock being supported by toothpicks.
You can waffle away about econometrics and exotic accounting cashflow projections all you want, but it is a load of bollocks.
Demand is derived from price, socio economic influences, income levels and future expection of prices. And they are all negative.
We are already seeing houses go in the 5 figures. Thats reality. We can physical see thousands of unsold units. We do not know family members or friends who are going to buy a house. People are emigrating. Nobody is immigrating. Families are using the UK Indian method of staying in the 1 house. GET REAL AND WAKE UP.
"No one rules if no one obeys" - Tao
And NAMA is an anti capitalism concept too.
"No one rules if no one obeys" - Tao
Don't forget that the Motorways were build under PPP's, a forerunner to the NAMA scam, where the taxpayer will pay back the investors long long into the future. FF's biggest crime to this country has been their complete failure to reform anything. And when I hear Cowen talking about reform, you have to ask where has he been for the past 12 years?
Unbelievably silly post. I will be out of work by the end of the month. I can go abroad, make a living, learn new skills and come back to help the economy, OR I can draw the dole, default on my mortgage and not be in a position to contribute anything
Slip! Slop! Slap! Seek! Slide!
Like what? That the eyes of the Irish people tend to glaze over when confronted with an issue involving complicated, contested ideas of bank solvency, the state's budget constraint and room for fiscal manouvere, property prices, the dynamics of support from the European Central Bank and European Commission, etc. etc.?
That, being cute enough to recognise this, the government's spin machine concentrates instead on buttering up opinion-formers, undermining critics and pushing the line of "there is no alternative"?
Did you really think we needed a brand-new lesson to understand all that?
And while your knowledge of matters financial and legal is superior to most, I suspect you might be making the same mistake as other commentators, both pro and anti-NAMA, who analyse things largely from the frame of reference composed of shareholders, bondholders, and the taxpayer. Because there's another quite numerous category of interested party involved: the bank debtors (i.e. borrowers). These are the people who, in the normal course of things, would have their loans called in were a bank to be wound up.
And I don't think it's just conspiracy theory to think that in the case of Anglo Irish Bank, that is something that simply cannot be allowed to happen. At least, not from the government's point of view. The bank might not be truly systemic but those people sure are.
Really, nobody has a monopoly on good NAMA-related analysis, especially not those who claim a superior point of view because they sit on a horse called "I know finance, you plebs don't". Elevated as that position is, it can mean you lose sight of the action among the worms and the rats.
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Well said. I have found that common sense economics dealt as a social science as it should be is the achilles heel to these Terminator type neo feudalists. Just keep firing the logic at them, they tend to either run away or come out with a stupid emotive post that shows them up to be buffoons. This is great thing about forums and social networking. From the safety of your computer you can freely express your opinions. For too long these well educated morons would dominate discussions in social gatherings and make you feel stupid when you had a valid point to make.
Their arrogance supercedes your social anxiety. Not anymore. Thanks to the internet.
As for the person you are retorting to, he has a weak point in derivatives too. They all seem to do. I post links graphs etc. and they never address it.
They never try to justify in layman's terms the existence of Fiat Currency, Quantitative Easing or how the concept of Fractional Reserve Banking is an economical viable system.
Follow your heart and never be afraid to say what you think, there will always be enough out there to back you up.
"No one rules if no one obeys" - Tao
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