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The Unfolding Crisis and Ireland's Economic Ruin national |
anti-capitalism |
feature
 Friday November 26, 2010 16:38 by IMC Collective
 The Financial Coup is almost complete Around the world countries have been betrayed by their politicians who have worked hand in glove with their capitalist partners to systematically destory each economy and then to hand them over to a private financial elite composed of bankers, investors and speculators and other parasites. The current crisis is the cumlination of a fairly long process starting in the late 1970s when the leading capitalist powers decided to go on the offensive and launched the Neo Liberal era which saw an claw back against all the rights gained by workers in the previous 70 years. At that time they also lent huge quantities of money to corrupt governments in the developing world and this ushered in the era of mega slums and third world debt bringing in the era of financial imperalism allowing the resources of these countries to be hauled away for almost free. continues below 
Reactions and Events (on Indy): In the past decade or so, the Class War has once again returned home to the 'Western Hemisphere' and the process of bringing the third world home was well under way. This is the situation where all the countries assets are owned by a few, the vast majority are very poor, violence is rife and at the top rules a ruthless rich elite. In parallel around the world, we saw increasing militarization of police forces and the simulteanous propaganda war to glorify this. Argentina in 2001 was the first casualty in this phase, where overnight the banks froze all accounts and millions of people lost their life savings. Almost instantly over 50% of the people were thrown into poverty. In the Argentina case, it later turned out that those who got their money out in time, were the very top few hundred wealthy families, who then used their fortunes to speculate against their own currency from outside and billions were made from it. Could the same be true today? Are Ireland's very wealthy speculating against our country and driving up interest rates and helping impose the drastic cuts about to fall? As we write, this past week we can see something very similar to above unfolding before our eyes. One thing is clear throughout the full spectrum of political opinion is that we have lost our sovereignity and from now on we will be controlled by the dictates of some unaccountable private group. We know that big cuts have already happened and bigger ones are on the way. We also notice that the rich remain largely unaffected. We know that the poor and less well off have been affected most through cuts to the very services that form the working fabric of our society and that the very small amounts that had been spent on numerous well deserved causes and groups, is almost gone. Yes, the third world is truly on its way to Ireland. It was reported during the week that thousands of people have had their electricty (ESB) cut off because they couldn't pay. In both the US and UK, houses that were cut off, burnt to the ground because of the occuptants switched to just candles and subsequent accidental fires. How long before the same thing happens to people's water supply when they start collecting the water charges. How about bin charges? If people can't pay their mortgages they will probably not pay their bins. Will the streets begin to fill with trash? Prof Morgan Kelly last week estimated that at least 100,000 people are in severe difficulty with their mortgages. Where is the bailout for these people most of whom were very successfully duped into paying for massively overpriced houses with the help of the relentless propaganda during the bubble from the media, the govt, the banks, developers and estate agents all singing to the same hymn sheet. We also know most of the debts racked up were for commercial property (data here) and NOT greedy house buyers as the media has so cleverly managed to keep as the party line for the past two years Make no mistake, the next move will be to try and sell off what remains of our state assets as suggested by the foot soldiers of big capital. The health budget will be severly cut, but more private hospitals will be built, but if you don't have the money it will be a case of 'please drop dead' from the capitalists. They don't care. For them, education must and will be cut too. Educated people are a threat to reining in the super wealthy and they may even try to estasblish something as subversive as democracy. The War of Terror is the propaganda instrument to deter the masses. This is a united effort by all capitalists across the world to stamp out equality, justice and democracy. They talk of justice yet a million+ have died in Iraq which most European govts including ours supports. Where is the justice in that? Civil liberties have been stripped everywhere. In our case, witness the completely over the top Garda violence at the Student march (here) or the violence yesterday at the Dail over a simple protest (here). Witness also the relentless violence against Shell to Sea campaign done out of the public eye over the last few years. Anyone who objects or protests is quite clearly a subversive and terrorist in today's post 9/11 world. Depending on the situation, its batons, tasers, tear gas, rendition and water boarding or predator drone hellfire missles for you. This is really just the Class War but the powers that be and not the gombeen ministers in our govt or the pending ones in Fine Gael, but the very powerful shadowdy people in the banking, financial and corporate world are the real power brokers, -these people dare not alert the masses to the fact that there is a class war hence the War of Terror, because their propaganda is so successful and they do not want the stark reality to sink in and instead have the masses cowering in fear at various bogey men. The extreme form of their public manipulation success is the moronic and clueless Tea Party in the US, which is behind the scenes backed and funded by big wealth.
These are the people you and your children will be paying the gambling debts of if we take on IMF loans guaranteed by the taxpayer to bail out the banks further. Also IMF loans to bail out the banks come with "conditions" as mentioned above which will result in lucrative privatisation of our utilities. So the idea is we pay their debts, give them our stuff, live in poverty without healthcare while we work for their companies for peanuts. Note: both Goldman Sachs and Rothschild amongst others were advising government AND were bondholders in Anglo. ?!?!?! Don't take this lying down. GENERAL ELECTION NOW! before it's too late and the deals are done. by opus diablos - the regressive hypocrite party Mon Nov 29, 2010 10:00  the big boys.They'd look on D Desmond and d O'Reilly and the likes as peasants.Serious wonga.I'd imagine there is more than a shekel of weapons industry and oil cash.Plus the usual Goldman Sachs(hello Peter)Rotschild, Mellon heir bullionaires. By now I'm sure the coke and smack mafias are linked in for laundry duties. by Wilberforce Onions Mon Nov 29, 2010 12:29 The budget vote is on 7th december - somebody please get the voting record of how every td - name and constituency - votes by W. Finnerty Tue Nov 30, 2010 06:14 Each individual TD (elected representative) needs to be informed ASAP and in no uncertain terms by the voters -- i.e. well in advance of December 7th -- that any of them who votes in a way which supports the multi-billion, interest-carrying (and crippling) IMF loans that are to be used to bail out the bankers, in connection with their massive, self-inflicted gambling debts, which nobody anywhere seems to know the full size of, will most definitely be "shown the door" at the next general election: which is now only a matter of weeks away apparently. by Mike Novack Wed Dec 01, 2010 17:35 "senior" vs "junior" debt (what does this mean) by W. Finnerty Wed Dec 01, 2010 19:27 Two excerpts from bailout statement made by Pat Rabbitte TD made on November 30th 2010: by Diarmuid Breatnach - Personal Capacity Wed Dec 08, 2010 17:54 Thanks for this comrades -- it is useful to have a timeline account. However, there is a longer history to the situation in which we now find ourselves and also to the resistance of Irish people. One would have to add the freeze on recruitment in the HSE back in November 2006 (?); the big Health demonstration and various hospital protests; ICTU march in February and promise of general strike; number of industrial disputes including Dublin Bus and Civil Servants (Passports Office); etc. by T Wed Dec 08, 2010 18:29 >>For to whom are they calling? ......To the mass of unionised workers, to which they have virtually no channels, and with which they have no organisations? by Pierce Farrell Wed Dec 08, 2010 21:23 Out side of the government TDs and the two infamous independents from Munster who has voted for this budget. And as interestingly, which TDs abstained? by John Smith Thu Dec 09, 2010 10:25 And, after the budget which cripples everyone, AIB is paying out €40 million in bonuses! Great to hear that the banks are still operating in a different universe. by opus diablos - the regressive hypocrite party Thu Dec 09, 2010 13:07 stabilise the fund-flow so the same parasites can find a fresh artery to sink their canines. No different universe, just business as usual. by C. Flower - www.politicalworld.org Fri Dec 10, 2010 10:44 cassflower.politicalworld at gmail dot com Congratulations to the authors of this page. by Sceptic . - None Whatsoever Fri Dec 10, 2010 22:55 What about the cheese they promised us for christmas ??? by opus diablos - the regressive hypocrite party Sat Dec 11, 2010 10:58 ..than that he tighteneth his belt round the throats of the dispossessed..... by eco joe Fri Dec 17, 2010 18:04 by Cowen's last day? Thu Jan 13, 2011 12:08 Move to oust Cowen underway, say tweeters At around 12.30am Fine Gael's Simon Coveney tweeted "Very strong rumours about unrest in FF and a potential motion of no confidence tomorrow - hard to know if it will happen or just speculation". Others were tweeting that Fianna Fáil had gathered the 18 names necessary for a no confidence motion in Taoiseach Brian Cowen. FF meeting postpone public response till 3 today, could be a big day... related - Cowen joined by another director after golf round http://www.irishtimes.com/newspaper/breaking/2011/0113/....html by Bye bye Brian Thu Jan 13, 2011 14:38 - Speculation mounts over Cowen's leadership by fat c*** Sun Jan 16, 2011 11:47 Biffo, your days are numbered by Peadaar. Tue Jan 18, 2011 12:18 "And, after the budget which cripples everyone." by opus diablos - the regressive hypocrite party Tue Jan 18, 2011 14:01 The top of the public sector is overpaid. But not nearly to the extent of the top of the private sector who are decoying you with that red-herring. by Pedaar Tue Jan 18, 2011 14:13 "Decoying you with that red-herring." by opus diablos - the regressive hypocrite party Tue Jan 18, 2011 14:18 Are not the public sector. They are the privateers of the public health service into their own private sickness industry. by children_of_lir Wed Jan 19, 2011 08:55 The Irish are an inhibited people. by Burb Wed Jan 19, 2011 21:45 Mary Harney announces resignation from Government by opus diablos - the regressive hypocrite party Thu Jan 20, 2011 11:49 ...will she sing, and tell us where all them bodies are stashed in the FF crypt. by children_of_lir Thu Jan 20, 2011 13:14 The secret confidence vote for Brian Cowen is not a transparent party. If I was a party member I would be extremely vocal about the lack of transparency. by opus diablos - the regressive hypocrite party Thu Jan 20, 2011 13:38 Closing down sale(for a wee while).May be moving to smaller premises. by children_of_lir Thu Jan 20, 2011 13:38 Inane posturing by the Irish member appears to stick in EU Commission president José Manuel Barroso's throat - by opus diablos - the regressive hypocrite party Thu Jan 20, 2011 14:23 a simplification at best. This pump and dump scam has been running for centuries, through the tulip markets and south sea bubbles to the savings and loans scam and enron to the haliburton/bechtel privatisation of war to the current currency stand-off between China and the Fed(thats the artists formerly known as the US of A) and down to the Eurobankers from 'The City' of London and their offshore branches in Jersey, Isle Of Man, Lichtenstein, Switzerland, Florida, Cayman and Bahama Islands with a dash of Triad Hong Kong slush. by opus diablos - the regressive hypocrite party Thu Jan 20, 2011 14:37 '..financing your farmers...' bit. by children_of_lir Thu Jan 20, 2011 14:43 We understand that the dough/monies has already left Ireland and is stashed in offshore accounts that don't require you to be a resident of that country. What's news? by Peaadar Fri Jan 21, 2011 19:55 When a money lender says "You must pay". by Peadaar Fri Jan 21, 2011 20:19 I shop in Aldi and Lidl and Tesco. by Biffo: going, going... gone Sun Jan 23, 2011 12:26 Cowen resigns as FF leader, but to remain as Taoiseach Brian Cowen has resigned as leader of Fianna Fáil but will continue as Taoiseach until a new Government is formed after the general election on March 11th. Timeline of unraveling leadership http://www.irishtimes.com/newspaper/breaking/2011/0122/....html AUDIO: Brian Cowen announces his resignation as Fianna Fail leader http://www.irishtimes.com/newspaper/breaking/audio/0111...f.mp3 by dunk Sun Jan 23, 2011 12:52 The Irish situation is perhaps the laughing stock of the world at present, a shower of donkeys, a circus, a country that seemingly puts up with it all... But will this week be the final straw? Radical change is needed. Will we finally see the end of the civil war politics, it doesent matter whether its FF or FG, same shite different color. But will labour be any better, seems unlikely. Will perhaps SF make major gains, will ULA get a strong vote? But what will it all lead to?
by Slán Biffo Sun Jan 23, 2011 13:44 Gargle Gate: - Singing Taoiseach hits bum note as critics lap up 'Gargle-gate' in Galway Biffo: The emporer has no clothes National Gallery Hides Art: RTE Hides News: Artist Hits Nail On Head: Guards Involved All the same though, wasnt Bertie a cheeky fu**er getting out when he did, knowing full well what lay around the corner... C*nt
Caption: Video Id: gRZvERI5nf8 Type: Youtube Video 
Caption: Video Id: zQ3OHbZ_4cg Type: Youtube Video by Irish emigrant Sun Jan 23, 2011 14:25 Irish emigrants deserve a vote Under Irish electoral law, unless you are "ordinarily resident" in the country (that is living in Ireland on 1 September in the year before the voting register comes into force) you cannot cast a ballot in elections. Irish Echo (Aus): “Fresh calls for vote to be extended to Irish abroad” (via Global Irish Vote) http://globalirishvote.com/2011/01/12/irish-echo-aus-fr...road/ Economist David McWilliams said in a recent Irish Independent column that he would “extend the vote to everyone who is an Irish citizen no matter where they live” if he was Taoiseach. Fresh calls for vote to be extended to Irish abroad (Irish Australia, News) http://www.irishecho.com.au/2011/01/12/fresh-calls-for-.../6300 Up to 30,000 Irish citizens living temporarily in Australia will be unable to vote in Ireland’s forthcoming general election. by W. Finnerty Mon Jan 24, 2011 11:30 "The bill, which both Fianna Fail and the Greens regard as a national priority, is important because it is a central commitment that the Republic of Ireland government entered into as part of the 85bn euro (£72.4bn) European and IMF bailout loan announced last November." by opus diablos - the regressive hypocrite party Mon Jan 24, 2011 12:57 and thats exactly why they want it processed pronto. Thinking might be conducive to democracy, no time for that. by 'misfits' + 'ragbags' = Irish left Mon Jan 24, 2011 20:52 Seems like Labour will not be pushing any real left alternative to the crisis, bit like their friends across the water. Sinn Fein are pushing at Labour, pointing out their lack of boldness, then in turn Labour's Roisín Shortall stooped last night to calling left-wing politicians 'misfits' and 'ragbags'. Strange days, quietly in the media across the water, Gerry Adams gives a summing up interview of where things are at... Today with pat kenny: Monday 24th January 2011 -Politics - Roisín Shortall, Labour, calls left-wing politicians 'misfits' and 'ragbags' on last nights "The Week in Politics" The Week in Politics - Sean O'Rourke calls "the most mind blowing week since the arms crisis of 1970" - Gerry Adams: 'I'm happy with who I am ... it's very important to be a subversive' The Sinn Fein president on his hopes to win a seat in the Irish parliament and create a united Ireland – and how he has never distanced himself from the IRA - Green party minister: why we pulled the plug, Green party TD Ciarán Cuffe http://www.guardian.co.uk/business/ireland-business-blo...eland - Mass resignation from Laois/Offaly Labour Party - New Left Alternative organisation launched in constituency... (14/01/2011) http://www.socialistworld.net/print/4772 On Tuesday night, twenty members resigned from the Labour Party in Laois/Offaly, formed an independent Left wing organisation and nominated a candidate to stand in the General Election as part of the ULA. This followed the crude imposition of a General Election candidate by the Labour Party leadership at a Selection Convention in December where the democratic rights of ordinary members were trampled on. This was seen by the local members as an attempt to ensure that any candidates elected to the Dáil for the Labour Party would not oppose the intended policy of the leadership to join Fine Gael in government and continue the disastrous bailout policy of the present government. 
Caption: Video Id: ms9WE7FoPM4 Type: Youtube Video by Sceptic - None Whatsoever Tue Jan 25, 2011 02:21 Lest we forget the antics of one Conor Lenihan , shaken and stirred by Vincent Browne by W. Finnerty Tue Jan 25, 2011 09:13 Sein Fein are the only ones making any sense (to me) regarding the rushing through of the Finance Bill. by opus diablos - the regressive hypocrite party Tue Jan 25, 2011 11:23 the only ones outside the race-tent. by children_of_lir Tue Jan 25, 2011 22:20 It was Cowen's deal with the main opposition parties to step down from FF leadership if the Finance Bill would be passed in Dail. This Bill will ensure that the workers of Ireland pay for Cowen's banking friends who have screwed Ireland. by W. Finnerty Wed Jan 26, 2011 07:35 Leaving aside the very small number of TDs who are genuinely now trying to have all matters relating to the Finance Bill decided AFTER the General Election, the rest of our TDs well know (without "letting on" to the voters of course) that if they look after the banks, the banks will look after them. by David Mc Williams Wed Jan 26, 2011 13:16 David Mc Williams was given considerable airtime this morning on Today FM`s radio show: The Ray D'Arcy Show, due to his article in this mornings Irish Independant... Asked would he run he responded no. Strange as it may seem now, the next few years offer the greatest opportunity to change Ireland. It is difficult to see beyond this crisis when many of us are mired in a deep, deep depression, but we can fix this economy and heal this society. read all at http://www.davidmcwilliams.ie/2011/01/08/if-i-was-taois...eland by opus diablos - the regressive hypocrite party Wed Jan 26, 2011 16:54 For ireland is that it has progressively imbibed a neo-conservative orthodoxy that has hijacked debate across the globe, and it is studded with presumptions of growth and expansionism that are relics of the imperial ages of human political and social evolution that are no longer fit-for-purpose in the globalised twenty-first century. by Radio 4 Listener. Thu Jan 27, 2011 13:30 I found it interesting that the "Arch-Capitalist" Billionaire George Soros said on BBC Radio 4 this morning that he expects the Irish people to deliberately default. by W. Finnerty Fri Jan 28, 2011 11:39 "SEANAD ÉIREANN will debate the Finance Bill today and tomorrow after the Dáil passed the controversial legislation by a comfortable 81 votes to 76" by German. Fri Jan 28, 2011 11:54 The trouble about Ireland is the "Parish Pump". by opus diablos - the regressive hypocrite party Fri Jan 28, 2011 13:14 Have far superior health, public transport, working conditions and other supports. Not every public sector worker here has those wages; its like evrywhere else, many underpaid and the few grossly overpaid. Which suits selective generalisations. Goebbels wrote that handbook. by W. Finnerty Fri Jan 28, 2011 16:27 Representatives of the IMF are now in here acting like "super inspectors" of some kind over us. by opus diablos - the regressive hypocrite party Fri Jan 28, 2011 17:00 If you are not there already try by W. Finnerty Fri Jan 28, 2011 18:02 I think "opus" probably meant: http://imfresistance.org by Rottenchild Fri Jan 28, 2011 18:18 "The IMF and World Bank are themselves without any real external oversight. They are virtually impenetrable by the legislatures of their member governments. Labyrinthine bureaucracies, coupled with immunities from national and international laws, have become, for them, impunity." by opus diablos - the regressive hypocrite party Sat Jan 29, 2011 13:47
by Foolish. Sat Jan 29, 2011 14:53 Even the arch-capitalist and well tuned-in capitalist George Soros says the the Irish people should not pay the debts of foolish bankers. by opus diablos - the regressive hypocrite party Sat Jan 29, 2011 15:33 thats a VICEROY. by W. Finnerty Mon Jan 31, 2011 09:27 "After years of hewing (i.e. conforming) to IMF financial dictates, citizens lost their jobs, bank accounts, savings and pensions overnight." by Maths Type. Mon Jan 31, 2011 18:59 The real trouble with Ireland is that it is ruled by Arts Graduates. by Pushkin Mon Jan 31, 2011 19:07 You could be on to something. The franchise is to open as well. I say if you want to vote then you should have to solve a Quadratic Equation. by opus diablos - the regressive hypocrite party Wed Feb 02, 2011 12:55
by W. Finnerty Fri Feb 04, 2011 14:31 "Hence the drive by the bankers themselves to get the government to cartelize their industry by means of a central bank. Central Banking began with the Bank of England in the 1690s, spread to the rest of the Western world in the eighteenth and nineteenth centuries, and finally was imposed upon the United States by banking cartelists via the Federal Reserve System of 1913." by W. Finnerty Mon Feb 07, 2011 07:00 “We would immediately repudiate a debt that is not ours,” he said. “Any of the bank guarantees that were not State debt would be repudiated…We would tell the IMF ‘you can have your money back and you need to go’.” by opus diablos - the regressive hypocrite party Fri Feb 11, 2011 12:51 Heres a few more interesting ones from over the pond. |
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Comments (72 of 72)
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Collapse of Irish Zombie Banks, Provoked Korean Crisis Escalate World Financial Breakdown Crisis.
http://garizo.blogspot.com/2010/11/collapse-of-irish-zo....html
Collapse of Irish Zombie Banks, Provoked Korean Crisis Escalate World Financial Breakdown Crisis
Download the PDF of this excellent report into how the Golden Circle of Banking, Business and Political elite managed to line their own pockets in the course of causing our current financial crisis - http://hubriticanomaly.blogspot.com/2010/11/mapping-gol....html
Fianna Fáil represents the Bankers and the property developing classes etc - they were the ones corrupting the political process. Fianna Fáil are scum - I'll grant that - but they're a servant of even bigger scum - scum you never get to hear about because they manage to keep their names out of the papers and use the likes of Harney, Bertie, McDowell (remember him?) Cowen and Lenihan to do their dirty work.
The Irish people are soon going to find out the hard way that we don't live in a democracy - we live in something that calls itself a democracy but what sort of democracy is it when no matter who you vote for it always ends up the same - there's enough evidence of that right now - every Major political party in this country is lining up to pass that economy-destroying budget. The treacherous Green Party are trying to pull a fast one by pretending they are doing the country some good by 'demanding' an election - a useless election AFTER everyone of the political scumbags votes to pass that budget. That way the new Gov't gets to pretend it gives a damn but it's hands are tied - they will turn around at every opportunity and say 'Not our fault - It wasn't our budget'
Mapping the golden Circle of the Irish Banking, Business and Political elite
The interconnected Web of European Debt
According to the Irish Times 'up to 50,000' took part in today's demonstrarion; according to the Guardian 'over 100,000' took part - why don't I believe the IT?
BTW does anybody take the story of the 19 year old in Oregon who tried to blow up an Xmas tree with 'explosives' supplied by the FBI seriously? More distraction, more fake crises to hide the real story.
Question: Where are the Irish people?
https://www.indymedia.ie/article/98293
Anger as the eurozone tries to stand firm
http://www.euronews.net/2010/11/25/anger-as-the-euro-zo...firm/
Ireland in crisis: the stories they're not telling you
http://uk.news.yahoo.com/blogs/ireland/ireland-in-crisi...ments
Scale of the catastrophe has not hit us yet
http://politico.ie/index.php?option=com_content&view=ar...d=877
vid - Portugal Goes Pop? 'Euro burning, people pay, bankers get away' (russia today)
http://www.youtube.com/watch?v=2noi0ukU9co
Rise like lions!
http://riselikelions1.wordpress.com/
Answer: Where are the Irish, heres a few kicking up a fuss
Céad míle fáilte - To the IMF
Céad Mile Fáilte to the IMF (by Soundmigration)
http://www.youtube.com/watch?v=qNEoOvMd8-Q
Ógra Shinn Féin activist Injured by State car at IMF protest
http://www.indymedia.ie/article/98240
+ http://www.belfasttelegraph.co.uk/news/local-national/r....html
+ http://www.osf.ie/home/component/content/article/4-gene...otest
+ vid - Ógra Shinn Féin member hit by Ministerial car - Vincent Browne
http://www.youtube.com/watch?v=SQeZJuPAvnk
Cork City Ireland: IMF Vigil turned March
http://www.indymedia.ie/article/98261
photos - http://www.hqphotostudio.ie/blog/imf-vigil-turned-march...eland
Protest in Government Building grounds
http://www.irishtimes.com/newspaper/breaking/2010/1122/....html
+ http://www.irishtimes.com/newspaper/ireland/2010/1123/1....html
+ VID - Sinn Féin protest outside government buildings - IMF cuts (guardian) - http://www.youtube.com/watch?v=Ps0V6giIezg
Department of the Taoiseach, 21-11-10 (The black day)
http://www.indymedia.ie/article/98237
N23: Fianna Fail office redecorated in Meath
http://riselikelions1.wordpress.com/2010/11/23/n23-fian...eath/
+ http://www.irishtimes.com/newspaper/breaking/2010/1123/....html
'Silent' protesters demand FF step down
http://www.irishtimes.com/newspaper/breaking/2010/1125/....html
Revolution audio file
https://www.indymedia.ie/attachments/nov2010/revolution.mp3
Where are the Irish people? - The Euronews "WAKE UP IRELAND" protester
Phoblacht na hÉireann - NULL AND VOID
TRAITORS - Minister for Transport Noel Dempsey's constituency office in Trim, Co Meath, was vandalised
Gardai push protesters, including Sinn Fein TD Aengus O Snodaigh (right), back after they pushed through the gates of Government Buildings
The Rebels of Cork, angry and taking action
Caption: Video Id: qNEoOvMd8-Q Type: Youtube Video
Céad Mile Fáilte to the IMF (by Soundmigration)
Caption: Video Id: Ps0V6giIezg Type: Youtube Video
Sinn Féin protest outside government buildings - IMF cuts (guardian)
www.indymedia.ie/attachments/nov2010/revolution.mp3
Revolution
Applause to the "New York Times" for thinking that up.
They certainly outdid "The Onion" this week...............http://www.nytimes.com/interactive/2010/05/02/weekinrev....html
& it so interesting to see how Italy owes more to both the Eire state and the Spanish state than either of those owe Mr Berlusconi's parlour................ isn't it? And nobody ought miss how much Italy owes France.
But does it really work that way?
Is it like Mr B (& perhaps his holiness Ratzinger on the side) cuddled up to Cowen, the Bourbon King of Spain & Sarkozy and tapped them / milked them / felched them for all he could get????
No it isn't so simple.
Correct me if I'm wrong, please do for thus may I learn
The arrows in the diagram are misleading because they represent both the stakes of sovreign debt in other PIIGS states as much as they give an indication of banking debts and credits.
It is certainly true that Spain (the state where I live) is acutely aware that it has a massive stake in Portugal's economy which is sadly even more than that suggested by the diagram above. That stake is not only inter-governmental but also the result of Spanish banks prowling. Let's not forget that most Spanish banks passed the "stress tests" with ease & just a little bit before "Newsweek" magazine named our beloved Taoiseach as one of the top ten leaders of our planet (for his handling of the crises) both the FT and Wall Street journal were felching up the "Spanish" Bank Santander's ass. [yep that felching word again - look the financial term up on the internet if it puzzles you.]
Accordingly in the last few days Spain's Zapatero & his opposition rightwing foe Rajoy sat down together with the 37 principle bosses of Hispanic capitalism & banking (whose invisible flags stretch the diagram to Latin America & indeed the UK) to discuss how they could :-
* contain Portugal catching the Eire state disease
* persuade everyone that Spain is different (been saying that since Franco discovered the appeal of topless beaches for tourism
& this is my conspiratorial bit.......................................
not mention the fking huge bunga bunga felching monster in the livingroom.................
ITALY.
= it really puzzles me especially when people can look at simple diagrams like the one on this page, how the global capitalist media refuses to lump Italy into the PIIGS scenario. There are no scare stories. No investors are being startled away (like the starlings they are) from trusting Italy. We are not treated to global capitalist media analysis of Italy. The loathesome credit agencies, one of which is so ironically called "Standard & Poor" aren't trumpeted as considering a degradation of Italy's status.
yet another oversimplistic diagram which makes only certain Piigies (& the brits) look debt fat & massages Italy's true poison.
#dubmarch
Just back from the protest march in Dublin city centre. There seems to be a fairly enthusiastic buzz about it on Twitter but I found the whole thing vaguely dispiriting. I think perhaps the fact that it was organised by the unions and alot of people don’t seem very engaged with their take on things probably dampened the general enthusiasm. The mood was somber, alot of frustrated anger. It was good that there was such a big crowd, 50,000 is what people are saying. Maybe all the cold weather has numbed my brain like it has my feet. Perhaps I was actually in the midst of a significant groundswell of public sentiment that will in fact affect a revision of governmental policy but to me at the time it didn’t feel like like much was being changed. Personally, I think we need better cheerleaders.
Blog Report from http://www.euphiodesign.com/blog/?p=814#1
Some updates from the big demo of 100,000...
Mainstream
Elsewhere
A FEW SELECT TWEETS @ #dubmarch
- #dubmarch on TWITTER
http://twitter.com/#search?q=%23dubmarch
VIDS
50-100,000 take to the streets in Dublin
Fianna Fail: putting the N in CUTS
Fringe of demo cuts from main march, approaches Dáil, burns poster of Cowen, plenty of cops about
Caption: Video Id: zCnIrhry9JQ Type: Youtube Video
Dublin protest
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CHRISTY MOORE SINGS AT PROTEST MARCH AGAINST AUSTERITY BAILOUT PLAN IMF DUBLIN 27 NOV 2010
In the Anglo Irish Bank interim report on page 46 section 16, titled 'Derivative Financial Instruments' you will see in the table that Anglo had a derivatives instruments on their books and they come to a notional value of €167 in 2009 and €184 billion in 2010 which shows that they were still ramping up these reckless instruments to the value of €17 billion in just one year whilst they were in the midst of the crisis.
The official story so far seems to be that the ECB had been keeping the Irish banks solvent since Sept of this year as speculated by Prof. Morgan Kelly, and stepped in to call a halt to this because there was no end in sight. But now it turns out that they have stepped into to try and deal with these derviatives and goes so way to explaining why all 27 members of the ECB rushed off to the meeting today in Europe.