The Great Sterling collapse is coming....

[Cassandra Syndrome]

You still haven't answered my question.

30,000 people who work in the IFSC are ordinary people.

Or are they just too posh to count as ordinary even though most earn modest enough incomes?

As I said, the are no different from everyone else. They do their day's work and fair play to them to having a job.

But on a macro level, when the Yuan and the dollar start their war games and trade barriers return, Collateralised Debt Obligation derivatives have no nutrional value.

What I mean is, we have lost our capacity to be self sufficient. Of course we were self sufficient in the 50s when the world was becoming more globalised and we are increasing the tempo of specialsims just when protectionism returns.

By the way the real economy outside of government has shrunk 50% since 2007. Thats how much of a mes this island is in.

[Cassandra Syndrome]

Don't you get it ?? Most of the IFSC's income is repatriated abroad. GDP includes this but not GNP. GNP is the true measure our economy as Ireland is the only exception as regards to the relationship between the GNP and GDP.

Normally GDP is similar to GNP in most countries around the world but not so for Ireland. It's bit unusual.

+1

Thank you.

[Breadan O'Connor]

That is strange. I saw your post and had intended to comment later


Recent Discussions - Real Irish Politics Forums

Maybe from now on I should avoid all mention of that wealthy family, I'm getting a bit scared

[toughbutfair]

The IFSC is a hidey hole for large International financial Institutions.

It is a tax haven.

Anybody would think FF would have been ashamed of Charlie Haugheys tax avoidance schemes. But not a bit of it, they decided to build an economy on his expertise in this field.

silly post. I work in tax. You clearly have no idea what a tax haven is. FF should be boasting about the IFSC haughey created as it has generated much wealth for Ireland.

[toughbutfair]

As I said, the are no different from everyone else. They do their day's work and fair play to them to having a job.

But on a macro level, when the Yuan and the dollar start their war games and trade barriers return, Collateralised Debt Obligation derivatives have no nutrional value.

What I mean is, we have lost our capacity to be self sufficient. Of course we were self sufficient in the 50s when the world was becoming more globalised and we are increasing the tempo of specialsims just when protectionism returns.

By the way the real economy outside of government has shrunk 50% since 2007. Thats how much of a mes this island is in.

Self sufficiency? you are sounding like DeVelara and his poverty economics.

[toughbutfair]

Well that German would want to get his facts right the next time he sticks his nose up a country.
.
German Tax revenue to GNP is around 25%
Ireland's Tax Revenue to GNP is over 30%

Typical Irish mentality to blame ourselves and to put up with sh1te as opposed to throwing stones at the ruling class.

Fair play to the Greeks.

Fair play to the Greeks? they are showing themselves up as the most stupid people in Europe. They think they can spend more than they earn every year. Why do you support them? We can all only spend what we earn.

[MPB]

silly post. I work in tax. You clearly have no idea what a tax haven is. FF should be boasting about the IFSC haughey created as it has generated much wealth for Ireland.

How much?

[Cassandra Syndrome]

silly post. I work in tax. You clearly have no idea what a tax haven is. FF should be boasting about the IFSC haughey created as it has generated much wealth for Ireland.

What wealth? Where is it now? At the end of 2008, Ireland in total was insolvent to the tune of 106 Billion Euro. What is the figure now? Probably more than our annual GNP.

[Cassandra Syndrome]

Self sufficiency? you are sounding like DeVelara and his poverty economics.

Yeah I clearly said that we did it incorrectly as always. As the world was becoming more globalised in the 50s and we turned to protectionism to the detriment of the nation. Now the world is entering its most sudden swing to protectionism since the 1930s and we are talking about developing a smart weightless economy. Insane.

We need to be ahead of the posse, get back to agriculture and manufacturing prompto, because we have the recipe for hyperinflation brewing.

[orbit]

German Tax revenue to GNP is around 25%
Ireland's Tax Revenue to GNP is over 30%

I'm surprised by those stats. Do you have figures to back them up? If true, it contradicts the widely held view that Ireland is a low tax economy.