Sunday, June 28, 2015

Why Ireland too should default



The general outline of Ireland's grim future is now clear. While it is unlikely that any political party can explicitly claim this as its program, it is equally unlikely that any of the current main  parties have the gumption to buck these trends;

  1. Borrowing on the financial markets, secured against commitments to sell off the family silver at a discount. The more silver is committed, the lower the borrowing rate ("bond yield"), and the cops can be used against the ensuing riots as we've already seen;
  2. Financialization of the economy and the economization of life. The wet dream of hucksters such as Blackrock to continue demanding mortgage payments AFTER repossession has become a reality in Ireland and Spain'
  3. Continuation of the assault against Irish artists, scholars and other entrepreneurs
  4. Yielding to every international neoliberal demand – gay marriage, abortion, etc – culminating in passivity when the US embassy connived in theft of Irish passports

The problem is that this combination is unstable. One can borrow, and encourage parasites to breed with welfare payments; but the international banksters always ask for a kilogram flesh too much, and water charges proved these modern-day Shylocks often overstep. So there is no party with support steadily over 25%, and we can expect instability for while.

While Iceland did fine by playing a much more subtle game with the IMF, Greece seems determined to take the banksters on mano a mano. This is what Ireland, with its much greater natural resources, should have done long ago and Greece's stance deserves all our support

PS (5 Iuil 2015) Lest we forget; we were repeatedly told that the "yes" was such a foregone conclusion that bookies had paid out on it 4 days BEFORE THE VOTE;

http://www.bloomberg.com/news/articles/2015-07-01/paddy-power-pays-out-early-on-greece-voting-yes-in-referendum

So who paid Paddy Power to pay out "five figures" ie about the Kilkee Strand races level? Was it Blackstne, also features in that disgusting article?

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