Friday, October 30, 2009

Thursday, July 09, 2009

Wednesday, July 08, 2009

Ireland - The drift into national bankruptcy looks increasingly unstoppable

Instead of recognising bankers and developers as parasites on our national prosperity, the Government came to see them as its source. While everyone else in Ireland has come to see the past decade as an embarrassing episode of collective insanity to be put behind us as soon as possible, the Government still sees it as the high point of our nation’s history. Nama is effectively Fianna Fáil’s shrine to the bubble, and likely to be an expensive and enduring one.

Prepare to pay 10 per cent more in income tax for the next 10 years to pay for NAMA

Read On...




Thursday, June 25, 2009

IMF - The Irish economy is in the midst of an unprecedented economic correction

The stress exceeds that being faced currently by any other advanced economy and matches episodes of the most severe economic distress in post-World War II history. Banks face extensive losses and double-digit fiscal deficits over the next three years will imply a run up in public debt. The short-term dislocations come on top of a sharp decline in potential growth, implying a modest pace of recovery.

Read On...



Monday, June 08, 2009

NYTimes: Why Home Prices May Keep Falling

From The New York Times:

ECONOMIC VIEW: Why Home Prices May Keep Falling


Despite the uptick last week in pending home sales and recent improvement in consumer confidence, we still appear to be in a continuing price decline....

http://www.nytimes.com/2009/06/07/business/economy/07view.html