Follow @PoliticsIE
 
 
 
Results 1 to 9 of 9

Thread: "It is still within our power to save the economy"

  1. #1
    Politics.ie Member farnaby's Avatar
    Join Date
    May 2006
    Location
    Swords
    Posts
    1,915
    Mentioned
    0 Post(s)

    Default "It is still within our power to save the economy"

    Wanted to highlight a very forthright letter in yesterday's Tribune. Selected quotes:

    ...

    We must confront the reality that almost no property is worth more than €150,000 in Ireland; that almost no public servants can justify a salary greater than, say, €50,000 a year and that almost no public-service pensioners can justify a pension greater than, say, €25,000 a year. No public representative should receive any pension from the public purse. They should fund their own pensions privately.

    ...

    The public-service unions should retreat ...their employer is as insolvent as any private-sector one


    ...

    It doesn't require 10 years to fix the economy. It only requires 10 minutes by following three steps: reduce government, reduce taxes and reduce trade unions. Real resolute recovery would resume very rapidly afterwards.
    ...

    We can live comfortably on €30bn a year

    ...

    as of today we still retain the freedom to rescue ourselves and to create a realistic, worthy and moral future for our young folk.
    While some of this is crazy talk, what struck me is that we think we live in a conservative country dominated by conservative politics but we don't. The above is truly conservative - living within our means both publicly and privately; not being fooled and ultimately enslaved by speculative bubbles; and not expecting Celtic Tiger II. Compared with our 'centre-right' politicians who spend billions when they have it and throw billions down a black hole when they don't.

    No-one is going to vote for the "realistic, worthy and moral" future envisioned because everybody loses out from where they are or think they are currently. Yet is there not something appealing about such an vision of economic sustainability, against the offering of all our politicians - a desperate scramble to get GDP growing any which way and put an artificial floor on property prices?

  2. #2
    Politics.ie Member
    Join Date
    Nov 2009
    Location
    Kiwiland
    Posts
    16,993
    Mentioned
    0 Post(s)

    Default

    As usual, the letter writer somehow forgot the glaring elephant in the room in his Three Rs - reduce prices.

    He kindof got halfway there by recognising that houses are still overpriced, but still nobody wants to take a good hard look at the crazy prices in every single corner of the economy - usually because of Govt intervention, meddling, charges, subsidies, legalised cartels and barriers to entry and croney sweetheart deals and protections for those on the inside track.

  3. #3

    Default

    The problem is that the credit tsunami that flowed into the country from 1999 to 2007 is hemorraging out at immense pressure.
    “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

  4. #4
    Politics.ie Member
    Join Date
    Nov 2009
    Posts
    4,461
    Mentioned
    0 Post(s)

    Default

    I would love to know the letter writers name. It sounds very like Youngdans plan for economic recovery.

  5. #5
    Politics.ie Member farnaby's Avatar
    Join Date
    May 2006
    Location
    Swords
    Posts
    1,915
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by MPB View Post
    I would love to know the letter writers name. It sounds very like Youngdans plan for economic recovery.
    I thought similar, half expected one of our libertarian set to take the credit. His name is under the letter, Eric Plunkett.

  6. #6
    Politics.ie Newbie
    Join Date
    Oct 2010
    Posts
    4
    Mentioned
    0 Post(s)

    Default

    More than this, I was thinking about this 6% levy we all pay.
    Since this levy came in place what has occurred around you? I've noticed several O'Brien coffee shops and other small "non-essential" shops going under. I've noticed small, entertainment based firms fall down.

    And then I thought about something. The levy costs is stated as an average of around $150 per month. If only 600k people are paying the levy on the average amount, that's €90'000'000 per month. In 2009, according to CSO - Statistics: Employment and Unemployment (ILO) 000's there were 2million people employed in Ireland.
    But back to the individual. Where do you get this money from in your budget? Me, I get it from entertainment since I don't have anywhere else to drop.

    Its interesting to notice that bank CEO's are getting bonus payouts, property developers are getting forgiven loans, Mr Cowen earns over €400k PER YEAR... and I can't even afford to take my kids and wife out for lunch.

    Back to those corner shops and entertainment places we've noticed closing all around us. We're currently on 12.7% unemployment rate according to RTE (RT News: Unemployment rate now at 12.7%). Do you ever ask yourself how many of those unemployed would be employed if the services are being used?

  7. #7
    Politics.ie Member richie268's Avatar
    Join Date
    Sep 2007
    Posts
    2,140
    Mentioned
    0 Post(s)

    Default

    It can not be done, the money is spent and hence no more demand for breakfast rolls or one bed boxes, what Ireland needs is more R/D and hopefully someone will invent a time machine and a real one at that ,and not the FF module of spin and make believe.

  8. #8

    Default

    I like the title of this thread ( and the letter ) - reminds me of David McWiliams and what he said about the reasoning behind setting up the Dalkey book festival. He had business contacts down there and they also felt as if SOMETHING had to be done. anything.

    hence the book festival - because a lot of authors live in and around Dalkey.

    With Ganley coming back, McWilliams with "Outsiders" and now this letter writer - is a perfect storm building up of a political movement of "outsiders"?

    As to where the funding will come - the answer is probably already in McWilliam's head - the diaspora. Including the new wave of emigrants. They are already "outsiders".

    Just a theory - thinking out loud.
    Last edited by johntrenchard; 4th October 2010 at 07:17 PM.

  9. #9
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default

    The economy cannot be saved unless the middle income earners pay a lot more tax, we introduce a property tax, childrens allowances are slashed, social welfare is cut, employment opportunities arise for 150,000 and the OAP is cut. Also the PS must take a durther 10% cut and all tax reliefs are limited to standard rate tax.

    Also we need the banks to fix standard rate variable rate at current levels for at least a year.

    Then we may have a chance.

Posting Permissions

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