Ireland's Struggles

Discussion in 'Random Ramblings' started by PineappleMama, Nov 24, 2010.

  1. PineappleMama

    PineappleMama Chillin' With My Peeps

  2. thaiturkey

    thaiturkey Chillin' With My Peeps

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    Ireland did well when it first joined the EU. It received subsidies and cash from other member States and some people, farmers in particular, became wealthy quickly with no extra effort on their part other than the completion of a few forms. Later, Ireland's turn came to fund more recent new members. People can't help themselves but to spend and borrow and the rot started to set in during the decade just ended, after the subsidies to Ireland ended. Come the world recession and the country as a whole is caught with debts it can't pay.

    Ireland and Greece are not the only countries with this problem. Within the EU, Spain, Italy and Portugal are heading in the same direction with the UK possibly not far behind. The US also has a budget deficit problem. Take a look:

    http://en.wikipedia.org/wiki/2010_United_States_federal_budget

    Cold logic suggests that austerity measure, painful though they are, are necessary in order to prevent things getting worse. Well, that's what the experts who talk gobblegook tell us. But this problem was created by people who have not suffered from it. In fact, many might be wealthier as a result. That's why people in Greece, France, Ireland and the UK are protesting very strongly. Why should they make the sacrifices when the authors of the recession prosper?

    'Trim the fat' amounts to job losses, home loan foreclosures, bankruptcies and other suffering for people who have worked hard and toed the line. None of that affects the wealthy, of course, especially the senior bank employees. Many people in Ireland are already poor and are now expected to make sacrifices because of the greed of others. 'Fat' is hardly the appropriate expression in their case.
     
  3. PineappleMama

    PineappleMama Chillin' With My Peeps

    Exactly... we're already up to our eyeballs in debt. Now is the time to try and correct it before the fit hits the shan and we're in dire straights... well and more sensible spending habits in general would be a good idea all around deficit or no.

    When you find yourself in a hole, STOP DIGGING. Good line that...

    Oh now there's a question... is it possible to have your head in the sand and not realize that you're in a hole? Seems like it'd be pretty obvious... being dark and all... and yet...
     
  4. thaiturkey

    thaiturkey Chillin' With My Peeps

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    Perhaps ordinary folk would accept the pain of cuts more readily if the wealthy and those who caused the problems in the first place were also to suffer. Most of the culprits seem to be immune.
     
  5. PineappleMama

    PineappleMama Chillin' With My Peeps

    Quote:Ain't that the truth? I really do wish that "proposed" Amendment that says Congress/etc shall pass no law that does not pertain to ALL citizens, including them, would get added. Think that might change what gets passed and what doesn't. But then, what politician would ever vote for such an amendment? Really a shame it wasn't included in the original document... and that it's a huge pain for the states to go around Congress and get one passed... especially since the states = politicians that may very well end up in Congress/POTUS/Senate themselves one day. [​IMG]

    edited for bad conjugation
     
    Last edited: Nov 24, 2010
  6. thaiturkey

    thaiturkey Chillin' With My Peeps

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    98% of us are just fodder working for the other 2%. Nothing will change that would make a jot of difference to them. They will forever allow the masses to build up debt, thinking that they are doing well with a nice home and car, and then whisk it all away in a recession with foreclosures and the like.
     
  7. PineappleMama

    PineappleMama Chillin' With My Peeps

    Well, I'm torn to be honest. I've seen family business (admittedly NOT the same thing as mass corporation) struggle to make ends meet, sell assets, not take a paycheck for months just to make the payroll... and then seen the employees make REALLY stupid choices...

    So it's not ALL the boss's fault.

    But likewise I've seen large companies lay off tons and at the same time show record profits... so what the devil?!

    Sure there has to be corporate responsibility, but there also needs to be individual responsibility.

    How can folks expect a company to keep its word when they themselves don't? You know?
     
  8. newfoundland

    newfoundland Chillin' With My Peeps

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    Years ago people had a healthy fear of debt and were very suspicious of credit. Even a mortgage was termed 'a millstone round your neck'. People saved for what they wanted or they did without. I'm no advocate of returning to those days. Wisely used credit enables most of us to lead a much more comfortable life than our parents. Also we have something to leave to our children in the way of property etc. Ireland has suffered from the effects of a hugely inflated property boom. Because everyone was so prosperous all of a sudden, building firms were developing estates of luxury houses. Now they stand empty as no one can afford them and the builders face massive debt. Just one example of the turmoil that has brought Ireland to this. The UKs problems are slightly different, but none the less we are facing very significant cut backs in every area of government spending, other than health care. I think we all realise now that we have no alternative but to grin and bear it!
     
  9. thaiturkey

    thaiturkey Chillin' With My Peeps

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    My parents shared the 'no credit' philosophy and the 'millstone' saying was one of my mother's favourites. They never had a penny of debt. Nevertheless, they managed to get their own home, car, boat and, in retirement, as many vacations as they wanted. It can work if you ignore what the neighbours are doing and don't try to keep up with their speedy accumulation of material things.

    I despair at the UK economy. Things were tough for people holding on to jobs for a couple of years before this recession hit and I can't see where it's all going to end there.
     
  10. newfoundland

    newfoundland Chillin' With My Peeps

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    I never despair. We do need a reality check though. Some of the things on offer in the UK recently have been completely absurd. An example of this is housing benefit paid to people to help them rent homes. This benefit made up the difference between what a claimant could reasonably afford to pay, and what was a fair economic rent for the property. Fine in theory, but it led to people on social security renting homes in the best parts of London while the tax payer picked up the tab for the rent. In some cases this was upwards of £800 a week! Just one example of the scandalous way successive governments have wasted the tax payers money. Now it's time to take stock; pull the plug on most of these government quangos, slash Member of Parliament's expense claims, and prune out the deadwood once and for all. But none of this matters because we have a royal wedding, and guess what - the bride and grooms family are paying!!!
     

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