Follow @PoliticsIE
 
 
 
Page 1 of 2 12 LastLast
Results 1 to 10 of 20

Thread: Not a hope in hell

  1. #1
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default Not a hope in hell

    How can we really afford to carry on like this? - Irish, Business - Independent.ie

    Good article.

    No chance, we will be ridden for the next 10 years.

    Wait till people realise they cant service their own debt requirements after paying higher taxes, levies, water rates & property taxes. Possible wage cuts and definite mortgage rate increases.

    NO HOPE IN HELL

  2. #2
    Politics.ie Member
    Join Date
    Jan 2009
    Location
    Mostly in Europe
    Posts
    398
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by hammer View Post
    How can we really afford to carry on like this? - Irish, Business - Independent.ie

    Good article.

    No chance, we will be ridden for the next 10 years.

    Wait till people realise they cant service their own debt requirements after paying higher taxes, levies, water rates & property taxes. Possible wage cuts and definite mortgage rate increases.

    NO HOPE IN HELL
    I don't believe that it can be paid either. Nor will more credit be forthcoming.
    I saw a figure recently that our total debt is around 1,000 Billion personal debt included. The people (i.e. country) simply doesn't have the money.

    So when this plan doesn't work and they don't manage to get blood from a stone... what next?

    I'd predict that commerce in this country will collapse completely.

    We are where we are! We've turned a corner etc etc

    Thieves bailing out their banker/developer buddies rather than admit that FF could ever make a mistake.

  3. #3
    Ex Member
    Join Date
    Sep 2008
    Location
    Around the Corner everyone has turned
    Posts
    3,586
    Mentioned
    0 Post(s)

    Default

    Debt forgiveness and default.

    The only option left.

  4. #4

    Default

    Quote Originally Posted by Bi ciuin View Post
    Debt forgiveness and default.

    The only option left.
    Short, simple and to the point. And accurate.

    Not unless we can increase income dramatically, but how can we increase productivity to avoid inflation?
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

  5. #5
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default

    CS - good book to read about the spiral

    "CHEAP - the real cost of living in a low price, low wage world"
    David Bosshart

    Wages fall, prices fall, wages fall further, prices fall further.......................etc

  6. #6
    Politics.ie Member seanmacc's Avatar
    Join Date
    Jan 2009
    Location
    Dublin
    Posts
    1,021
    Mentioned
    0 Post(s)

    Default

    If Europe went into a massive Zimbabwe style period of hyperinflation our sovereign and personal debt would shrink. We still have a chance of paying it off.

  7. #7
    Politics.ie Member needle_too's Avatar
    Join Date
    Aug 2007
    Posts
    924
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by seanmacc View Post
    If Europe went into a massive Zimbabwe style period of hyperinflation our sovereign and personal debt would shrink. We still have a chance of paying it off.
    If me aunty had balls, she'd be me uncle.....


    Quote Originally Posted by Bi ciuin View Post
    Debt forgiveness and default.

    The only option left.
    ...and whos going to pay the debts then?

    You can forgive debt within the bounds of the state, what about overseas creditors?
    Let em hang?
    Well thats fine until your sick child cant be seen because the state cant borrow money to pay doctors. Whos hanging then?

    The obvious and only option is a debt for equity swap.
    You hand back 50% of your house to the bank and they reduce the payments by 50%.
    When it comes time to sell, they get their 50% first.

    Deal done, pressure off, no more profiting from property prices, cash back in the system at no cost to the taxpayers.

    Simples.
    Last edited by needle_too; 5th October 2010 at 03:28 AM.

  8. #8
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default

    We are all having a panic attacked over €4,300 million cut backs for the next 4 years.

    €17,000 million all told.
    1.7m workers
    By 2014 we will all be about €10,000 per annum worse off ( I know its a little simple but that is how I`m looking at it )

    Now how do I increase my net income by €10,000 or cut my expenditure?
    Or for two income families double this figure

    Debt forgiveness needs to happen ASAP.

  9. #9
    Politics.ie Member Aindriu's Avatar
    Join Date
    Jun 2007
    Location
    Somewhere up in the Wicklow mountains digging an even deeper nuclear shelter
    Posts
    8,689
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by hammer View Post
    Wait till people realise they cant service their own debt requirements after paying higher taxes, levies, water rates & property taxes. Possible wage cuts and definite mortgage rate increases.
    Sadly, around 95% of the population will just bend over and take it. In the most part, we Irish are spineless, gutless people who allow authority (RCC, FF etc) to ride roughshod across us.

    If more than 5% of the population take to the streets I will be very (but pleasantly) surprised.
    If you continue to elect idiots in elections, don't be surprised when the result is an idiotic government.

  10. #10
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default

    When I do the payroll for my firm and commissions are put through and people see the tax take 51% they are shocked. Some people are living in cloud cuckoo land.

    The 95% do not understand the hardship that will ensue as public expenditure is brought back to €38 billion or so per annum.

    The public sector are ostriches at the moment if they cant see further wage adjustments and real redundancy.

    We need to cut total expenditure by circa 25%

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •