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Thread: Bonds back at 6.5% - Election needed now.

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    Default Bonds back at 6.5% - Election needed now.

    Terrible news, the bond markets have returned to 6.5%, clearly the markets are showing they have no faith in our government and are set to reach 7% or more by the time we come to borrow next year.

    Fianna Fail must do the right thing and call an election, its time to give the country stability and a credible 6 year plan that the markets will have faith in.

    0.282%
    VALUE: 6.532

    Ireland 10 Year (GIGB10YR:IND)


    GIGB10YR: Ireland 10 Year Summary - Bloomberg

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    So at 5.3%, we don't need an election, but at 6.5% we do. Maybe at 7% we should have a revolution.

    I take it you never invested in anything in your life?

    We have to wait until after the budget to make any judgments as to market sentiment and not panic at each days figures. In case we are not going back to the market until next Spring (this years borrowing requirements are fulfilled).

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    Politics.ie Member Partizan's Avatar
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    Quote Originally Posted by subaculture View Post
    So at 5.3%, we don't need an election, but at 6.5% we do. Maybe at 7% we should have a revolution.

    I take it you never invested in anything in your life?

    We have to wait until after the budget to make any judgments as to market sentiment and not panic at each days figures. In case we are not going back to the market until next Spring (this years borrowing requirements are fulfilled).
    Yep, kick the can further down the road and hope for the best. What happens after a particularly nasty budget, the January tax take and VAT figures are disastrous, unemployment spikes and we go back to the markets for more money. Will the market say, "sure heres another €20bn".

    will they fvck.

    Everything will be alright in 2011. Eamonn Ryan says the economy will be back flying again in 2017.

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    I do think there should be an election, but realistically it'll make no difference to the bond yields, in fact the calling of an election might get them to rise more because of the uncertainty etc.

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    Election? In a dictatorship? The only social choice that we will have control over after Christmas is breathing.
    “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

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    Quote Originally Posted by Partizan View Post
    fter a particularly nasty budget, the January tax take and VAT figures are disastrous, unemployment spikes and we go back to the markets for more money. Will the market say, "sure heres another €20bn".
    .

    Well, as far as the markets go.. the nastier the budget the better.

    What makes you think unemployment will go up, VAT, corporate tax takes will fall?

    In any case the Dept of Finance has already made available the various best / worst financial scenarios to the various party leaders.

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    much as I detest FF, changing government at this stage will not make any difference whatsoever
    “'retail deposit flight, I don't see that as a great danger. Ireland is an island” - Brian Lenihan - to hundreds of international investors

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    Quote Originally Posted by Bi ciuin View Post
    Terrible news,
    Indeed?
    Still, I expect there's not a dry seat in the anti house.

    Didn't hear much out of you when the rate was going down last week. Now, why was that?

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    Politics.ie Member Partizan's Avatar
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    Quote Originally Posted by subaculture View Post
    Well, as far as the markets go.. the nastier the budget the better.

    What makes you think unemployment will go up, VAT, corporate tax takes will fall?

    In any case the Dept of Finance has already made available the various best / worst financial scenarios to the various party leaders.
    Really, many European finance ministers have copied Lenny's slash and burn approach and it hasnt made a blind bit of difference.

    We could cut €5 or €7 billion from the budget and cost of borrowing will still increase because taking that amount of the economy would send us further into a deflationary spiral. Revenue from Tax and VAT will still be down, workers losing their jobs and people will still not spend. As long as their is no stimulus plan you might as well be pissing against the wind.

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    Quote Originally Posted by subaculture View Post
    Well, as far as the markets go.. the nastier the budget the better.

    What makes you think unemployment will go up, VAT, corporate tax takes will fall?

    In any case the Dept of Finance has already made available the various best / worst financial scenarios to the various party leaders.
    The Department of Finance's worst case scenario? That's akin to receiving Valium rather than morphine.

    These clowns couldn't predict a Millwall V West Ham aftermatch brawl, they are so fecking dumb and cotton wooled from the real world. Their nightmare scenario is 1% GROWTH. WTF?

    How can we grow? The global economy is shrinking again as the stimulus BS wears out, so there goes the Export option. What's left? the domestic economy? That is hemorraging debt obligation money to Germany? Get real.

    You could remove over €15 Billion from this economy by eliminating the dead end money that goes on useless bureaucratic jobs, stupid seminars and useless training courses. But we can't be upsetting the buddies of the Neofeudalists now can we?
    “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

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