Category Archives: Housing Bubble

Lombard Street: “structure of the euro worsened divergences naturally arising from the differences between countries”


The structure of the euro worsened divergences naturally arising from the differences between the countries. The Dutch and Germans felt poorer than they actually were, the Spanish richer – and the low interest rates that were perceived as a benefit … Continue reading

Posted in Commodities & Cost of Living, ECB/IMF, Economy, EU, Euro / Sovereign Money, eurozone, Geopolitics, Germany, Greece, Housing Bubble, ireland, Leo Varadkar versus the World, Spain | Tagged , , , , , , | Leave a comment

“Everyone qualified to explain what happened complicit in pushing this… would give the rope to hang commentariat”


From Phillip Pilkington, writing at NakedCapitalism: “almost every single person in Ireland today qualified to explain what happened was complicit in pushing this economic ideology. And so to explain to the Irish people what actually happened would be to give … Continue reading

Posted in Accountability, Austerity / Cutbacks, Bankers' Bailout, Budget, Commodities & Cost of Living, ECB/IMF, Economy, EU, Housing Bubble, Ideology, ireland | Tagged , , , , , , , , , | Leave a comment

Conor McCabe – Raymond Crotty Memorial Lecture 2011: Rancher & Banking Interests in the Irish Economy. Pearse Centre, Dublin @ 2:30pm, Saturday 15 October.


Raymond Crotty Memorial Lecture 2011 – Conor McCabe: Rancher & Banking Interests in the Irish Economy Dr. Conor McCabe will deliver the Raymond Crotty Memorial Lecture for 2011 in the Pearse Centre (27 Pearse Street), Dublin, at 2:30 p.m. on … Continue reading

Posted in Bankers' Bailout, ECB/IMF, Economy, Elections, Emigration, EU, Euro / Sovereign Money, Geopolitics, History, Housing Bubble, Independence/Nationalism, ireland | Tagged , , , , | Leave a comment

The math of “real mortgage rates” – Schwab.com


From Liz Ann Sonders @ Schwab.com: The math of “real mortgage rates” Back at the peak of the housing bubble in 2005, the 30-year fixed mortgage rate (the nominal rate) was about 6%. To get the “real” mortgage rate, you … Continue reading

Posted in Debt Default/Restructuring, Debt Forgiveness / Personal Bankruptcy, Economy, Housing Bubble | Tagged , , , , , | Leave a comment

Desmond Greaves Summer School: “Economist sees Irish echoes of US crisis” – Irish Times


From The Irish Times – Economist sees Irish echoes of US crisis: “The closest decade to this one as far as real growth in gross domestic product was the 1930s. There was 1.3 per cent growth per year then, and … Continue reading

Posted in Action Stations, Austerity / Cutbacks, Bankers' Bailout, Breaking News, Budget, Civil Rights & Liberties, Debt Default/Restructuring, ECB/IMF, Economy, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Geopolitics, History, Housing Bubble, Ideology, Independence/Nationalism, ireland, Solutions, Taxation | Tagged , , , , , , , , | Leave a comment

France, Germany agree transaction tax for “true European economic government” (People’s Movement)


The Germans and French agree again! France and Germany have agreed plans for a transaction tax as part of a deal to set up a new “true European economic government” for the euro zone; but they demand that the tax … Continue reading

Posted in Bankers' Bailout, Budget, ECB/IMF, Economy, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Geopolitics, Germany, Greece, Housing Bubble, ireland, Taxation | Tagged , , , , | Leave a comment

There is still a little time left for Ireland to foil this power grab by the Eurozone elite (National Platform)


This ESM Treaty is the first use of the “self-amending” Article 48.6 TEU of the EU Treaties which was inserted by the Treaty of Lisbon. It is seen by the Fine Gael-Labour Government, as well as by its Fianna Fail … Continue reading

Posted in Accountability, Austerity / Cutbacks, Bankers' Bailout, Budget, Civil Rights & Liberties, ECB/IMF, Economy, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, France, Geopolitics, Germany, Housing Bubble, Independence/Nationalism, ireland, UK / Britain | Tagged , , , , , , , , , , , , , , , , , , , , | Leave a comment

Irish Economic Pravda latest: Fire in downtown Moscow makes way for glorious new tractor factory!


Ok. How do we square this: Irish Times / Vines & Watson – Markets are making the wrong call on Ireland’s debt; Constantin Gurdiev – 23/08/2011: Trade Figures for June – an awesome performance by the sector; With this… … … Continue reading

Posted in Accountability, Agriculture, Austerity / Cutbacks, Bankers' Bailout, Budget, Commodities & Cost of Living, ECB/IMF, Economy, EU, Food, Geopolitics, Housing Bubble, ireland | Tagged , , , , , , | Leave a comment

Was the protection of Ireland’s oligarchs the cause of its financial disaster? (PoliticalWorld.org)


Did JP McManus, other Irish oligarchs, influence 2008 blanket guarantee decision? By “Bokonon” @ PoliticalWorld.org The Irish Central Bank’s independent report into the banking guarantee excoriated the government’s inclusion of Anglo Irish Bank and existing/subordinated bondholders in the blanket guarantee … Continue reading

Posted in Accountability, Austerity / Cutbacks, Bankers' Bailout, ECB/IMF, Economy, Elections, EU, Housing Bubble, ireland | Tagged , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Important new book – “Sins of the Father”, Conor McCabe (People’s Movement)


This recent publication is an important contribution and a radical departure from the received wisdom about the present economic crisis in Ireland. There is a hackneyed narrative in Ireland and beyond that lays the blame for the economic and social … Continue reading

Posted in Accountability, Culture & Entertainment, Economy, History, Housing Bubble, ireland | Tagged , , , | Leave a comment

Debtocracy


For those who missed the screening of this important documentary by the Progressive Film Club last Saturday: People’s Movement · 25 Shanowen Crescent · Dublin 9 · http://www.people.ie · 087 2308330 · post (at) people (dot) ie   Progressive Film … Continue reading

Posted in Audio/Video, Bankers' Bailout, Budget, Culture & Entertainment, Debt Default/Restructuring, ECB/IMF, Economy, EU, Geopolitics, Housing Bubble, Ideology, ireland | Tagged , | Leave a comment

Germany owns Europe: during boom bankers went out way to get dirty, needed to go abroad to (Vanity Fair/Michael Lewis)


From Michael Lewis in Vanity Fair – It’s the Economy, Dummkopf! The Greeks not only have massive debts but are still running big deficits. Trapped by an artificially strong currency, they cannot turn these deficits into surpluses, even if they … Continue reading

Posted in Accountability, Bankers' Bailout, Budget, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Geopolitics, Germany, Greece, Housing Bubble, ireland, Superstate | Leave a comment

Update: Some Solutions – Debt Commission, Targeted Public Spending, Banking Utilities, Eurobonds… Leave the Euro


David Malone / Golem XIV – A Debt Commision for the publically owned Banks like RBS: I personally, as a tax payer, was taken into a vastly costly deal blindfolded. I want the blind fold removed. Don’t tell me ‘experts’ … Continue reading

Posted in Accountability, Auditing Committee, Bankers' Bailout, Budget, ECB/IMF, Economy, EU, Euro / Sovereign Money, Geopolitics, Greece, Housing Bubble, ireland, Solutions | Tagged , , | Leave a comment

The Problem, Outlined: ECB & the Property Bubble


Real-World Economics Review blog – Will the popular movements teach the European Central Bank economics?: …like the Communist Party in the Soviet Union, acceptance of the ideology is the price for admission into the clique of economists who can influence … Continue reading

Posted in Budget, ECB/IMF, Economy, EU, Euro / Sovereign Money, Geopolitics, History, Housing Bubble, Independence/Nationalism, ireland | Tagged , , | Leave a comment

Update: DEPFA: the €35 Billion German Debt Grenade at the heart of the Irish Balance Sheet


[Links to David Malone blog fixed] Thanks to sinsin @ Politics.ie: Depfa demise could have been Ireland’s biggest headache – Independent.ie IFSC German banks’ warning to Elderfield – Independent.ie Hypo Real Gets EU50 Billion Government-Led Bailout (Update3) – Bloomberg Central … Continue reading

Posted in Accountability, Bankers' Bailout, Budget, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Fraud, Geopolitics, Housing Bubble, Independence/Nationalism, ireland | Tagged | 1 Comment

Update: Professor Morgan Kelly @ Kilkenny Arts Festival, Hubert Butler Lecture


From Kilkenny Arts Festival, Hubert Butler Lecture @ Soundcloud.com: On a fateful night in September 2008, the former government urgently needed some good advice. “Astonishingly,” wrote Richard Tol in The Irish Times, they “knocked on David McWilliams’s door.” Many people … Continue reading

Posted in Audio/Video, Budget, Debt Default/Restructuring, ECB/IMF, Economy, EU, Euro / Sovereign Money, Housing Bubble, ireland, Solutions | Tagged , , | Leave a comment

“Once again Minister Noonan, allow me to confuse you with a couple of facts” (WhistleBlowerIRL)


Via Golem XIV blog aka David Malone, author of The Debt Generation – Guest Post – WhistleblowerIRL – The Show Must Go On: Michael Noonan, our Finance Minister, acknowledges regulatory failures and is proud to present the latest attempt at tooth-less legislation. The motivation? … Continue reading

Posted in Accountability, Bankers' Bailout, Budget, Debt Default/Restructuring, ECB/IMF, Economy, Elections, ESM / European Stability Mechanism, EU, Fraud, Geopolitics, Housing Bubble, ireland | Tagged , , , , , , | Leave a comment

“How goodly are thy tents… Oh Israel!”


These links thanks to Tikkun Magazine email updates: Tikkun Magazine, David Harris-Gershon – In Israel, the Winds of Social Change Are Blowing: The popular protests now engulfing Israel, originally spurred by a housing crisis, have quickly morphed into an amalgamation … Continue reading

Posted in Accountability, Budget, Civil Disobedience, Civil Rights & Liberties, Economy, Food, Geopolitics, Housing Bubble, Ideology, Israel / Palestine, Pensions, Privatisation, Solutions, Unions, War & Peace | Tagged , , | Leave a comment

Meanwhile, in Israel… Bibi Shake! Shake!


Bibi Shake! Shake! (Noy Alooshe Remix) Mondoweiss – Tent protests panic Netanyahu (and just might shake foundations of occupation); BBC – Israel suffers summer of economic discontent; Mondoweiss – Will Israel’s tent protesters awaken to the tents that came before … Continue reading

Posted in Audio/Video, Civil Disobedience, Economy, Geopolitics, Housing Bubble, Israel / Palestine | Tagged , , , , | Leave a comment

Guest Post: The Irish Debacle – the Republic’s path to subordination to the ECB, EU Commission and IMF Troika (Anthony Coughlan)


Future historians will surely see Ireland’s joining the Eurozone in 1999 and abolishing its national currency to adopt the euro as the worst policy mistake ever made by the Irish State. It was an act of gross irresponsibility on the … Continue reading

Posted in Accountability, Bank Run, Bankers' Bailout, Debt Default/Restructuring, ECB/IMF, EU, Euro / Sovereign Money, Geopolitics, Greece, History, Housing Bubble, Ideology, Independence/Nationalism, ireland, Solutions, Superstate | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

More on Job Guarantees: Hyman Minsky & The Employer of Last Resort


Financial Stability, Social Justice, and Public Employment in the Work of Hyman P. Minsky by Ryan A. Dodd, Research Associate, University of Missouri-Kansas City, Working Paper No. 54, June 2007 – PDF, Google Docs: Abstract: The theoretical work of the … Continue reading

Posted in Budget, Economy, Housing Bubble, Ideology, Independence/Nationalism, Social Welfare, Solutions | Tagged , , | 1 Comment

“The Eurozone Heads for Break Up” (Nouriel Roubini)


Via Economonitor, Nouriel Roubini writes in the Financial Times: The muddle-through approach to the eurozone crisis has failed to resolve the fundamental problems of economic and competitiveness divergence within the union. If this continues the euro will move towards disorderly … Continue reading

Posted in Bankers' Bailout, Debt Default/Restructuring, Debt for Equity, ECB/IMF, Economy, EU, Euro / Sovereign Money, Geopolitics, History, Housing Bubble, Independence/Nationalism, ireland, Solutions | Tagged , , , , , | Leave a comment

“ECB President Trichet Praised Ireland as the Model for the EU to Follow” (William K. Black)


Via the Exiled, William K. Black writes at New Economic Perspectives – ECB President Trichet Praised Ireland as the Model for the EU to Follow: Ireland is not like Greece. It ran a budgetary surplus during its boom. It privatized … Continue reading

Posted in Bankers' Bailout, Debt Default/Restructuring, ECB/IMF, Economy, EU, Euro / Sovereign Money, Geopolitics, Housing Bubble, Ideology, Independence/Nationalism, ireland | Tagged , , , , , | Leave a comment

“Slow-motion bank runs are already in progress in the European periphery… You can see why we’re now at the panic stage.” – Paul Krugman


Via Politics.ie – Nobel Memorial Prize winner Paul Krugman writes in the New York Times – The Euro Living Dangerously: So the ECB keeps saying that restructuring is unthinkable. Yet austerity programs are not working; the prospect of a return … Continue reading

Posted in Bank Run, Bankers' Bailout, Budget, Debt Default/Restructuring, ECB/IMF, Economy, EU, Euro / Sovereign Money, Geopolitics, Housing Bubble, ireland | Tagged , , , , , , | Leave a comment

“A nation that gives up its sovereign currency by joining the euro gives up the three most effective means of responding to a recession.” – Bill Black


Via Politics.ie – Bill Black [Associate Professor of Economics and Law at the University of Missouri-Kansas City… white-collar criminologist… former senior financial regulator, and the author of The Best Way to Rob a Bank is to Own One] writes at … Continue reading

Posted in Accountability, Bankers' Bailout, Budget, Debt Default/Restructuring, ECB/IMF, Economy, Elections, EU, Euro / Sovereign Money, Geopolitics, Housing Bubble, Solutions | Tagged , , , , , , , , , | Leave a comment