Here is what the brain-dead Irish political and business 'elites' should read every time they talk about negative equity not being a big problem 'until you move house' & debt being sustainable 'until you can't repay loans'. The wealth destruction wrecked on Irish mid-generation families is so much more comprehensive than that for the US Generation-X households, and the debt levels loaded onto the shoulders of Irish households (private and public) are that much more extensive than those for the US Gen-Xers, and yet,
Read this, morons:
http://www.businessinsider.com/generation-x-least-prepared-for-retirement-charts-2013-5#debt-is-killing-them-too-gen-xers-carried-more-than-80000-worth-of-debt-by-2010-on-the-flip-side-depression-era-babies-had-zero-debt-and-war-babies-had-just-15000-to-worry-about-7
- Irish politicians are incapable of comprehending the effects of wealth destruction and are solely obsessed with public finances; while
- Irish business elites are mumbling left-right-and-centre about the need to 'free' people from their savings to 'get economy going again'.
Read this, morons:
http://www.businessinsider.com/generation-x-least-prepared-for-retirement-charts-2013-5#debt-is-killing-them-too-gen-xers-carried-more-than-80000-worth-of-debt-by-2010-on-the-flip-side-depression-era-babies-had-zero-debt-and-war-babies-had-just-15000-to-worry-about-7
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