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Old 11-17-2010, 12:32 PM   #91
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Unemployment statistics are always fashioned in a way that suits the government fine, but hides a lot of the real unemployment. The US is no exception there.
Having the two figures, 10% in the US and 14% in Ireland, also doesn't tell you that much to be honest. You can't tell how accurate the statistics are. You cannot see the kind of unemployment which comprises most of what is covered in the statstics. For example, how much is frictional unemployment, and how much is structural unemployment, etc.
And the way the two countries measure unemployment is very different. So what does it mean that Ireland has 14% unemployment rate currently and the US just 10%. Where is real unemployment, meaning how much is hidden and therefore not represented in the statistics? How much is structural?
Also, employment itself is very different in the countries. While the US has a huge population of the so called working poor, and others who work two or three jobs just to makes ends meet, to my knowledge these phenomena hardly, at least much less exist in Ireland.

I further read that Ireland is now saying that it may well take help from the uncivilized continent.
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Old 11-17-2010, 01:10 PM   #92
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Originally Posted by Vincent Vega View Post
Unemployment statistics are always fashioned in a way that suits the government fine, but hides a lot of the real unemployment. The US is no exception there.
Having the two figures, 10% in the US and 14% in Ireland, also doesn't tell you that much to be honest. You can't tell how accurate the statistics are. You cannot see the kind of unemployment which comprises most of what is covered in the statstics. For example, how much is frictional unemployment, and how much is structural unemployment, etc.
And the way the two countries measure unemployment is very different. So what does it mean that Ireland has 14% unemployment rate currently and the US just 10%. Where is real unemployment, meaning how much is hidden and therefore not represented in the statistics? How much is structural?
Also, employment itself is very different in the countries. While the US has a huge population of the so called working poor, and others who work two or three jobs just to makes ends meet, to my knowledge these phenomena hardly, at least much less exist in Ireland.
I don't think the two/three job phenomenon is as widespread in Ireland as compared to the US. However there are plenty of working poor because of the property bubble. Because of the property bubble they took on mortgages they can barely afford at current interest rates and we all know long term interest rates are only going one way.
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Old 11-19-2010, 02:40 PM   #93
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Ireland has played a shrewd game, says Schroders’ chief economist - Citywire
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Old 11-19-2010, 05:53 PM   #94
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Europe`s Monetary Crisis: Ireland's "Suicide Pact" With the E.U.

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Ireland could be the next Lehman Brothers. That's what has the markets worried.
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But no one believes that will happen. Most people think that Ireland will "take its medicine"
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"It cannot be denied that Ireland has lost its status as a sovereign nation. Thanks to its disastrous entanglement with the euro, it has lost any independence in domestic, foreign and above all economic policy. The Irish nation is the creature of Brussels and the European Central Bank. The Irish prime minister has effectively been turned into a pro-consul dispatched to Dublin from Brussels. Brian Lenihan, the finance minister, is like an overseas manager of a Brussels subsidiary. For those of us who love Ireland, this is miserable and demeaning – but it needs to be borne in mind that a similar fate awaits a number of other European countries. Greece already does what it is told by the IMF and the ECB; the same will shortly apply to Portugal and in due course Spain." ("Ireland has lost its sovereignty and is now the creature of Brussels – thanks to the euro", Peter Oborne, Telegraph)
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Why spend 800 years trying to overthrow the Brits just to come under the sway of the EU? Having said that, almost no one in Ireland goes anywhere as far as UKIP or many Tories in opposing the EU altogether....

The European Project was and is a Utopian idea, based not on practical logic but on an idealistic vision, and it has only one aim in mind – total political union. Along the way its architects have consistently lied to the public about its aims, especially so in the creation of a single currency, which logic suggests requires political unification." ("Ireland's smug, Euro-loving elite has led their country to ruins – 'Little Englanders' saved ours", Ed West, Telegraph)

The financial crisis has stripped away much of the pretense surrounding the 16-country EU. No one is blabbing about ending wars and shared prosperity anymore. The focus has shifted to belt tightening for workers and golden parachutes for bankers and bondholders. In other words, elites are waging the same relentless class war they always have, only this time it's behind the facade of European unity. Does Ireland really want to be a part of that charade?

It's time for Ireland to leave the EU and deliver a blow to the ill-conceived Uberstate. In fact, they should have left years ago.
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Old 11-19-2010, 06:08 PM   #95
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it would be an interesting exercise to see ireland leaving the EU
perhaps I could buy Dublin in a year or 2
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Old 11-19-2010, 06:36 PM   #96
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I haven't studied the economic history of Ireland closely, so I genuinely wonder if the Celtic tiger would ever have had a chance of coming about if it weren't for the membership in the EU.
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Old 11-21-2010, 12:28 PM   #97
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Ireland to Seek EU-Led Bailout as Lenihan Works to Avert Bank `Collapse' - Bloomberg
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Old 11-21-2010, 05:59 PM   #98
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No words.

Quiet man stayed silent on his most terrible deed - National News, Frontpage - Independent.ie

Unemployed man charged with quadruple murder - National News, Frontpage - Independent.ie
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Old 11-22-2010, 08:22 AM   #99
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Originally Posted by Vincent Vega View Post
Unemployment statistics are always fashioned in a way that suits the government fine, but hides a lot of the real unemployment. The US is no exception there.
Having the two figures, 10% in the US and 14% in Ireland, also doesn't tell you that much to be honest. You can't tell how accurate the statistics are. You cannot see the kind of unemployment which comprises most of what is covered in the statstics. For example, how much is frictional unemployment, and how much is structural unemployment, etc.
And the way the two countries measure unemployment is very different. So what does it mean that Ireland has 14% unemployment rate currently and the US just 10%. Where is real unemployment, meaning how much is hidden and therefore not represented in the statistics? How much is structural?
Also, employment itself is very different in the countries. While the US has a huge population of the so called working poor, and others who work two or three jobs just to makes ends meet, to my knowledge these phenomena hardly, at least much less exist in Ireland.

I further read that Ireland is now saying that it may well take help from the uncivilized continent.
I agree. I live in a typical American working class neighborhood. Nice folks with modest means and what use to take one paycheck to live on now takes two. We are just getting by. Though fortunate to still have jobs, everything is so expensive. It doesn't match our pay raises and the folks on SS. I really feel sorry for them. My mom is 82 and it is a joke in regards to what the government gives her to live on. So, who fills in the income gap? The grown children do, meaning we have nothing to save towards own retirements. But, what are we suppose to do? Let mom live in a shelter or on the streets?
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Old 11-22-2010, 03:18 PM   #100
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Yes, Bono was included in one's purchase of Ireland but one is considering auctioning him off for Children in Need.
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Old 11-22-2010, 06:28 PM   #101
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Irish economy near financial collapse

Wondering if U2 has commented on this-have you heard anything I missed?

Irish financial crisis threatens government - CNN.com

Dublin, Ireland (CNN) -- Irish Prime Minister Brian Cowen on Monday said he will delay any decision on whether to go ahead with national elections until the 2011 budget is passed and negotiations on the details of an $11 billion international bailout package are finalized.

"I'm saying that it is imperative for this country that the budget is passed," Cowen said at a news conference Monday evening in Dublin. "I'm also saying that it is highly important in the interests of political stability that that happens. It's very important for people to understand that any further delay in this matter in fact weakens this country's position."

Earlier Monday, the Green Party, one of several parties in Ireland's coalition government, called for new elections amid controversy after the Cabinet signed off on the bailout from the European Union and the International Monetary Fund.

Green leader John Gormley wants the elections to be held at the end of January.
Ireland and the bailout
Bailout pressure on Ireland
Ireland facing emigration again
Bailout for Ireland
RELATED TOPICS

* Ireland
* Dublin (Ireland)
* European Central Bank
* International Monetary Fund

Cowen confirmed that he would seek the dissolution of the Dail (parliament) when legislators have passed the 2011 budget and published a four-year fiscal plan, and when the bailout loans are confirmed.

"This past week has been a traumatic one for the Irish electorate. People feel misled and betrayed," Gormley said in a statement.

The party has said that its involvement in the government would go on "as long as it was for the benefit of the Irish people," the statement said.

"But we have now reached a point where the Irish people need political certainty to take them beyond the coming two months," it said. "So we believe it is time to fix a date for a general election in the second half of January 2011."

The international bailout comes with required spending cuts that Irish politicians are saying will be a shock for voters.

Earlier Monday, Labour Party leader Eamon Gilmore called on the Greens to bring the government down if the senior party, Fianna Fail, didn't agree to new elections in January.

"The Green Party has at last recognized what the country has realised for many months, that this government is long [past] its sell-by date and that it is incapable of leading the country to economic recovery," he said in a statement.

Fine Gael leader Enda Kenny called for "an immediate general election so that a new government, with a clear parliamentary majority, can prepare the four-year economic plan" to spur Irish recovery.

Cowen requested substantial "financial assistance" from the European Union and the International Monetary Fund on Sunday evening. He also pledged spending cuts and tax increases. This request came less than a week after the prime minister said Ireland had "made no application for external support" for its debt-ridden banks. Dublin has spent billions trying to buttress the banking sector.

Fears about Ireland have pushed down the value of the euro against the dollar and put stock markets under pressure.

Ireland is forecast to run a deficit of 11.9 percent of its GDP in 2010. And overall, the country is grappling with a running tab of debt that will total 98.5 percent of its entire economy this year, Cowen said.

Since 2008, Ireland has enacted strict budget-cutting measures, slashing about $20 billion off the country's budget. Now it's time for round two, as Cowen plans to cut an additional $20 billion over the next few years.
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Old 11-22-2010, 06:50 PM   #102
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Bono let the world know his thoughts on Ireland
when he got his money out, if others had followed his example of moving their business from Ireland to the Netherlands they would be sitting pretty, too.
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Old 11-22-2010, 06:54 PM   #103
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Bono let the world know his thoughts on Ireland
when he got his money out, if others had followed his example of moving their business from Ireland to the Netherlands they would be sitting pretty, too.
Not really, that was a tax management strategy. U2 were gearing up for further heavy property related investment at the time the credit crunch first hit in 2007, also they did not sell the Clarence and surrounding properties when they had the opportunity during the bubble. 2005/2006 would have been the best time to sell. All the indicators suggest that they didn't see it coming.

Has the Clarence ever actually made a profit?
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Old 11-22-2010, 07:17 PM   #104
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I am sure you have better information about that than I do.

I just know that large corporations moving profits off shore to avoid taxes does not sit right with me.

The fact that Dick Cheney's Haliburton Corp got fat off of U S tax payers money profiteering on war and avoided paying taxes on those profits by setting up corporations over seas is wrong.
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Old 11-22-2010, 11:58 PM   #105
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Not really, that was a tax management strategy. U2 were gearing up for further heavy property related investment at the time the credit crunch first hit in 2007, also they did not sell the Clarence and surrounding properties when they had the opportunity during the bubble. 2005/2006 would have been the best time to sell. All the indicators suggest that they didn't see it coming.

Has the Clarence ever actually made a profit?
From what I have read, no.

I do know that my home is worth less than it was during the economy boom. Fortunately for me. I didn't loose any money since it was already paid for. 100% equity. I am always recieving mail on selling my house. Not going to do it. I am staying put. At least I own, what I own. I don't trust the mortgage loans. Too many people lost their houses.
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