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Archive for May 2010

Government Admits making “Mistakes” ..

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Well holy cow, an Taoiseach Brian Cowen finally admits the Government made mistakes that contributed to the economic “crash”.

With nearly half a million people unemployed (from a population of 4.3 million) and the National debt tripled to about €160 billion (including Nama). All I can say is Gosh, would we all be allowed to make mistakes like that .. I doubt  that very much. I am sure if any employee preformed in such a manner they wouldn’t have a job for long. We are stuck with Fianna fail for 15 years, then again who in the heck voted for them.

Just to quote part of the Bacon report which was commissioned in early 2000 by said Government, which even back then was warning of the possibility of the property bubble busting

5.5.8 Anti-speculation Property Tax
The housing market is attracting speculative demand. In some cases, this takes the form of individuals taking a view about prospective house prices and buying residential property, as opposed to another form of investment. In other instances, speculative demand takes the form
of a transitory increase, following from demand being brought forward, so as to avoid expected future price increases. These various kinds of speculative demand forestall the movement of the housing market to stability. As this happens, there is a tendency to stimulate further speculative demand and in this way a ‘bubble’ can develop.

If allowed to develop unchecked, such a process has the potential capacity to threaten overall stability of the market.

However, it is considered that expectations of future returns from housing market speculation should be supported through the introduction of an annual tax on dwellings, which are not principal primary residences.

So the Government knew all about the dangers of the bubble bursting, but did little about it.


Written by ferdia2010

May 14, 2010 at 10:58 pm

Posted in Ireland Political

Protest outside the Dail…

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Written by ferdia2010

May 10, 2010 at 10:00 am

Posted in Uncategorized

Deepwater Horizon Oil Spill.

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Following an explosion on April 20th and subsequent sinking of the Deepwater Horizon Oil Platform. Possibly the biggest Oil spill in the world is unfolding, it is estimated that up to 8,000 thousand barrels of oil a day are leaking out. Measures are being taken to try to contain the effects of the spillage but are likely to be unable to protect marine life, numerous bird species and the coastline itself.The economy of the region is also likely to take a knock. Don’t think I would like to be in British Petroleum shoe’s at the moment.

Written by ferdia2010

May 8, 2010 at 8:00 am

Posted in International

On Car-parking..

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Had to do a small bit of business in a nearby town during the week. I thought it would be quiet but it wasn’t, surprised me but one thing I have to say is that the car-parking in this country is something else, it’s terrible bad parking in places, parking everywhere.. It’s doesn’t take much them to cause a traffic jam. Maybe it is a lack of car-parking facilities but some people park like they are the only people on the road, often they could park somewhere else and walk .. yes use the two legs, one leg in front of the other that’s it. Must be the only one to think so..

Written by ferdia2010

May 7, 2010 at 8:00 am

Posted in Uncategorized