Originally Posted by making waves

These tax breaks emerged as a result of establishment politicians from the main parties being in the pockets of developers and the owners of land banks. The tax breaks were designed to line the pockets of the wealthy in this country and they did to the tune of €billions over the years. They were the result of widespread corruption and casino capitalism drive by speculation that encompassed the bankers, speculators, developers, spivs and their political lapdogs over a period of 15 years.

These numbers demonstrate that even as the economy was crashing and the government (with the support of the main opposition parties) were slashing jobs, wages and services - the wealthy (individuals like James Reilly) were still raking in massive amounts of money in tax breaks. Is it any wonder that the richest 10% of the population have seen their income and wealth continue to rise in the middle of an economic depression while the remaining 90% are suffering the effects of the destruction of the economy - initially because of casino capitalism and now because of austerity.

What is "casino capitalism"?

Originally Posted by Cassandra Syndrome

If there is such a situation then there is no shortfall. I could say I have a shortfall of alien artefacts. But that is a logical fallacy as there are no known alien artefacts, so I can't have a shortfall. I could say I have a shortfall of original Picasso paintings, but unfortunately to have the originals I will have to pay extraordinary amount of money to acquire just one as they are extremely scarce.

When it comes to shortage of nursing homes, the prices will rise until entrepreneurs step in to supply the shortfall. As prices rise, more entrepreneurs should enter the market place which will bring down prices. But this depends on how easy it is to enter the market.

What of the shortage of this critical piece of healthcare in the meantime as prices rise until they come to a level whereby the private sector provides it?

Let us say that there needs to be a demand of 1000 places nationally before 2 nursing homes are built, one in Dublin, and one in Cork.

What do you do with the 900 elderly patients who have no adequate healthcare as you wait for 100 more to add themselves to the list until its feasible?

Do they die?

Originally Posted by meriwether

What of the shortage of this critical piece of healthcare in the meantime as prices rise until they come to a level whereby the private sector provides it?

Let us say that there needs to be a demand of 1000 places nationally before 2 nursing homes are built, one in Dublin, and one in Cork.

What do you do with the 900 elderly patients who have no adequate healthcare as you wait for 100 more to add themselves to the list until its feasible?

Do they die?

When you are at 900, to fill out the extra 100, prices have to drop.

Originally Posted by flavirostris

Yes.. the fact that it didn't work..mission accomplished for Fianna Fail. There was a great thread a while back on how Cowen ( as Minister for Finance ) was being lobbied intensively by Pat Farrell of the Irish Bankers Federation ( a former general secretray of FF ) to expedite legislation that would allow Anglo et al to borrow even more money on the international markets. Farrell was being supported by the then-Taoiseach Bertie Ahern who was also applying pressure to push this though.

If intensive lobbying was deemed necessary it would tend to suggest that FF did not set out to neuter the regulator, as you claimed.

Originally Posted by Sailor

If intensive lobbying was deemed necessary it would tend to suggest that FF did not set out to neuter the regulator, as you claimed.

I suppose you'll come up with just about any excuse for Fianna Fail. None so blind etc.

Even if what you were saying was true and they didn't actively neuter banking regulation, they're still guilty of criminal negligence.

Whatever way you look at it, it's either incompetence or corruption.

Originally Posted by Cassandra Syndrome

When you are at 900, to fill out the extra 100, prices have to drop.

Don't get fixated on the numbers.

Lets say 500.

500 at the dropped price is uneconomic for the private sector to provide the NH.

Now what?

Originally Posted by flavirostris

I suppose you'll come up with just about any excuse for Fianna Fail. None so blind etc.

Even if what you were saying was true and they didn't actively neuter banking regulation, they're still guilty of criminal negligence.

Whatever way you look at it, it's either incompetence or corruption.

Incompetence.

Originally Posted by Sailor

There was no effective banking regulation - but can you provide evidence that it was actively neutered by FF?

The proof is in the pudding! Sure look at yesterday in the Dail. Not one note or scrap of paper from the talks regarding the bank bailout. Shower of gangsters the lot of them.

I really don't know how Fianna Fail is even still in existance anymore. And then your man O'Cuiv on Miriam on Saturday night almost gauled over the fact that she brought up that he grew up in Dublin.

Fianna Fail make me sick! and don't even get me started on McGrath. He has the gaul to appear on the news every day slagging FG for policies his party implemented in the first place. And Martin with his arms crossed in the Dail in defence yesterday.
What a muppet.

I hate Fianna Fail, I have always hated them and I will always hate them. I just wish everyone else in Ireland could do the same.

Originally Posted by Old Irish

The proof is in the pudding! Sure look at yesterday in the Dail. Not one note or scrap of paper from the talks regarding the bank bailout. Shower of gangsters the lot of them.

I really don't know how Fianna Fail is even still in existance anymore. And then your man O'Cuiv on Miriam on Saturday night almost gauled over the fact that she brought up that he grew up in Dublin.

Fianna Fail make me sick! and don't even get me started on McGrath. He has the gaul to appear on the news every day slagging FG for policies his party implemented in the first place. And Martin with his arms crossed in the Dail in defence yesterday.
What a muppet.

I hate Fianna Fail, I have always hated them and I will always hate them. I just wish everyone else in Ireland could do the same.

The files covering the events leading up to the guarantee were and still are the responsibility of the civil service.

Originally Posted by Cassandra Syndrome

1. Since 1999, interest rates plummeted to a record low here, when they should have gone up. That and the ability to source an unlimited amount of imaginary capital from the Eurozone was a signal to developers to build long term projects on mass.

2. As if the above was not bad enough, the idiotic government gave tax incentives to develop these projects.

End result of 1 & 2 is a surge in demand for land, labour and capital. Given the low availability of land for development in this country, supply was restricted with a very inelastic supply curve, possibly nearly vertical. The sudden shift in the demand curve to the right from the 2 factors above since 1999 send prices rocketing. And it was all artificial.

The developers didn't manipulate this, they were recipients of fake money that they could throw at these schemes.

And all blessed by Saint Ballybrit The Tent...

You can talk about curves till the birds come home, this was greed, driven by endemic, institutional all party greed!