tag:blogger.com,1999:blog-8817171247555815363.post3302247189755143696..comments2024-03-26T05:57:44.937+00:00Comments on True Economics: 23/6/2013: Sindo & Indo: "'Bondholders are f***ing us up the arse' – Anglo"TrueEconomicshttp://www.blogger.com/profile/07350536454228478974noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-8817171247555815363.post-91275011878264831632013-06-25T06:12:06.414+01:002013-06-25T06:12:06.414+01:00I am genuinely interested in hearing responses, to...I am genuinely interested in hearing responses, to a very simple question of who exactly were executives of institutions such as Anglo Irish bank, actually working for in September 2008, pre- the Irish banking guarantee and all that followed afterwards.<br /><br />Because, if I hadn’t studied some small bit of business and enterprise subjects in school, to obtain some vague impression of what a shareholder was, and who were the actual legal owners of companies, then from listening to broadcasted interviews on Irish national media - I could be forgiven for walking away with an impression, that the Irish taxpayer owned Anglo and all the banks, even before the Irish bank guarantee - and that we always owned Irish banks. <br /><br />We were always going to be on the hook. <br /><br />And I just always wonder where that notion came from? <br /><br />I certainly don’t remember reading anything like that in any text book, during my limited experience with ‘Enterprise’ subjects in school. In the national conversation in Ireland today, it seems like the concept of a shareholder, or what value of that kind of a species might add to any economy, has evaporated into thin air.<br /><br />When did that version of enterprise theory become so popular? And when exactly did any alternative version of theory, become so deeply un-popular? <br /><br />It has become a conversation, only about how much more weight can be loaded on top of ‘tax payers’, while removing more and more supports at the bottom, which may help to support the increasingly large load on top. <br /><br />We have become expert structural technicians of austerity, not of capitalism. <br /><br />It just makes one wonder, like in the former USSR in the late 1980s, when it is all going to collapse like a cheap deck chair, in Ireland? <br /><br />If one does’nt get a general acceptance within a society, of what the function of a shareholder is, and what value they can add - how one needs to force as many of them as possible in underneath to help carry that large load so to speak, . . . then a society is in trouble.<br /><br />The ‘tax payer’ that everyone seems so concerned about today in Ireland, might have been convinced at this stage, that they can carry virtually anything that is loaded on top. The 'tax payer' in Ireland today, may even have arrived at a conclusion, that that is their function. <br /><br />But they ultimately they cannot support the load of an entire modern economy on their own shoulders - and that is the lesson that was learned in Russia. But it is ‘unpopular’ in Ireland to say otherwise. We have become Russians in our own right. We have embraced the pain. <br /><br />Michael Lewis kind of summed it up in his Charlie Rose interview: who ever has suffered the most, gets to talk. <br /><br />Brian O' Hanlon <br />-Brian O' Hanlonhttps://www.blogger.com/profile/09185216066875647495noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-74073136681161999132013-06-25T00:38:15.307+01:002013-06-25T00:38:15.307+01:00I enjoyed it, Brian. You should write more often. ...I enjoyed it, Brian. You should write more often. Honestly!TrueEconomicshttps://www.blogger.com/profile/07350536454228478974noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-10520639700723046952013-06-24T22:50:57.050+01:002013-06-24T22:50:57.050+01:00My take on things here, for any of those who care ...My take on things here, for any of those who care to read it for interest's sake. <br /><br />http://designcomment.blogspot.ie/2013/06/its-irish-story.html<br /><br />Brian O' Hanlon <br /><br />Brian O' Hanlonhttps://www.blogger.com/profile/09185216066875647495noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-50029797532088699952013-06-24T14:43:09.385+01:002013-06-24T14:43:09.385+01:00Name one other country that since Cromwell, has lo...Name one other country that since Cromwell, has lost population every decade? <br /><br />Entering the Euro meant that interest rates would halve and capital values, therefore, roughly double.... Yet Ireland was enabled to obtain bank subsidy by the SSIA scheme! Thus we were to expand bank lending by 30% p.a.<br /><br />Guarantee? Who were the bankers advising the Government, if not Rothschilds?<br /><br />Seems I was off by three months on the end of the beginning of the Depression? Tsk, tsk!Fungus the Photo!https://www.blogger.com/profile/14879977479841544025noreply@blogger.comtag:blogger.com,1999:blog-8817171247555815363.post-62497826219734144612013-06-23T22:38:52.162+01:002013-06-23T22:38:52.162+01:00Finally , finally, finally, the obvious can no lon...Finally , finally, finally, the obvious can no longer be maintained hidden from view by the permanent and elected governmentsboomernoreply@blogger.com