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  1. #1
    MacCoise2 MacCoise2 is offline

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    2 billion stimulus or pure utter bull spin?

    Cabinet expected to approve €2bn stimulus package - RT News

    The Cabinet is expected to approve a €2bn stimulus package of investment in infrastructure at its meeting this morning.

    The broad outline is known and funding will come from a variety of sources, including the Pension Reserve Fund, future sales of State assets, and public private partnerships funded by the European Investment Bank.






    How can they claim this is 2€ billion-pitifully low by the way- if it is based on sale of state assets not yet sold?

    Public Private Partnerships means private money.... not stimulus

    And the EIB stuff is just regular loans that can be accessed at any point (unless it forms part of a bigger plan which it obviously does not).

    Aside from that of course this has all been announced before- i am sure we all remember local TDs on the radio welcoming EIB money from Scoil Naomh X etc.

    RTE have fallen for it... will you?
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  2. #2
    firefly123 firefly123 is offline
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    If they want they could stimulate me by lodging that 2 bajillion into my account...!
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  3. #3
    statsman statsman is offline
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    Quote Originally Posted by MacCoise2 View Post
    Cabinet expected to approve €2bn stimulus package - RT News

    The Cabinet is expected to approve a €2bn stimulus package of investment in infrastructure at its meeting this morning.

    The broad outline is known and funding will come from a variety of sources, including the Pension Reserve Fund, future sales of State assets, and public private partnerships funded by the European Investment Bank.






    How can they claim this is 2€ billion-pitifully low by the way- if it is based on sale of state assets not yet sold?

    Public Private Partnerships means private money.... not stimulus

    And the EIB stuff is just regular loans that can be accessed at any point (unless it forms part of a bigger plan which it obviously does not).

    Aside from that of course this has all been announced before- i am sure we all remember local TDs on the radio welcoming EIB money from Scoil Naomh X etc.

    RTE have fallen for it... will you?
    Always with the binary thinking; could it not be a bulldroppings stimulus package?
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  4. #4
    ruserious ruserious is offline
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    Capital projects are the best investments. When the government raised current spending in the noughties such as child benefit, dole etc, all you were doing was making a situation that when the money dried up as it did, mass protests because cutting current is much more difficult than raising it.
    Had McCreevy and Co. decided that he would spend money on capital rather than current, he would have created many jobs and we would be left with a much better infrastructure. And...we would have a smaller social welfare bill today.
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  5. #5
    meriwether meriwether is offline

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    Quote Originally Posted by MacCoise2 View Post
    Cabinet expected to approve €2bn stimulus package - RT News

    The Cabinet is expected to approve a €2bn stimulus package of investment in infrastructure at its meeting this morning.

    The broad outline is known and funding will come from a variety of sources, including the Pension Reserve Fund, future sales of State assets, and public private partnerships funded by the European Investment Bank.






    How can they claim this is 2€ billion-pitifully low by the way- if it is based on sale of state assets not yet sold?

    Public Private Partnerships means private money.... not stimulus

    And the EIB stuff is just regular loans that can be accessed at any point (unless it forms part of a bigger plan which it obviously does not).

    Aside from that of course this has all been announced before- i am sure we all remember local TDs on the radio welcoming EIB money from Scoil Naomh X etc.

    RTE have fallen for it... will you?
    I'm struggling to see your point here.

    State assets will be sold.
    PPP will be tapped.
    The EIB will also be tapped.

    This will form a fund.

    This will be used on expenditure in the economny. On stuff.

    Thats pretty much a stimulus package.

    I have no idea whether it will work or not.
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  6. #6
    Cassandra Syndrome Cassandra Syndrome is offline
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    Using proceeds from the sale of state assets might be just about acceptable. But taking taxes from people just for the sake of building stuff is complete lunacy.

    More so in this country when the majority of the goods required are imported. A good day if you are Chinese.

    Common examples of special interest groups practicing the broken window fallacy might be:
    Arguments for public works projects as a way to reduce unemployment. The hidden cost here is of course the tax payer's money, and the special interests are the jobs created by the public works. This is analogous to the fallacy only if in fact the taxation induces opportunity costs and a net social loss, yet public works are not inherently destructive and need not involve demolition for the sake of superflous rebuilding (i.e., intentionally breaking windows).
    Parable of the broken window - Wikipedia, the free encyclopedia

    The opportunity cost is taking future money from citizens who would otherwise spend it directly creating jobs and who would be far more efficient using it as it is their money.
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  7. #7
    mickmick mickmick is offline
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    Completely agree, I look forward to seeing lots of smiling ministers with pictures of previously anounced projects. And I've no doubt they'll be 'launched' again before shovel hits dirt.
    Just get on and build the feicin' things
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  8. #8
    Clanrickard Clanrickard is offline
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    Quote Originally Posted by statsman View Post
    Always with the binary thinking; could it not be a bulldroppings stimulus package?
    Any chance you could stay on topic you extremely unfunny twerp.
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  9. #9
    MacCoise2 MacCoise2 is offline

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    Quote Originally Posted by meriwether View Post
    This will form a fund.

    .
    Well then announce it then. (It won't form a fund, it will just be loads of diffgerent bits of money)

    My other point is that the 2€ billion figure is not a state/government stimulus, it's a lot of other stuff in there too that can happen anyway
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  10. #10
    greengoose2 greengoose2 is offline
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    Quote Originally Posted by meriwether View Post
    I'm struggling to see your point here.

    State assets will be sold.
    PPP will be tapped.
    The EIB will also be tapped.

    This will form a fund.

    This will be used on expenditure in the economny. On stuff.

    Thats pretty much a stimulus package.

    I have no idea whether it will work or not.

    The old adage should be applied here:

    "A bird in the hand is worth two in a bush"

    There's another one:

    "Don't your chickens before they're hatched"

    How much will be raised from selling state assets and will they be sold at a decent profit?
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