tag:blogger.com,1999:blog-2826531655042170344.post7021696410526536437..comments2024-03-26T11:29:52.986+00:00Comments on Economic Incentives: Two Steps to Economic Ruin: Step OneSeamushttp://www.blogger.com/profile/15679299530222667673noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2826531655042170344.post-39879783839037552782011-05-15T10:53:52.597+01:002011-05-15T10:53:52.597+01:00I watch your annalysis on vincent Browne alot and ...I watch your annalysis on vincent Browne alot and I think you are a genius ,however I am by no means an expert in finance although at the time of bank bailout I remember thinking we should let banks fall as it reminded me of broken pillars on a table if they are broken it will only take pressure until they buckle again,and also thinking at the time of the loans from imf and ecb we needed to do this over 30 years just like a mortgage .It is not a bailout we borrowed money and are repaying it at a price.A bailout to me is a gift of money.I also predict either fall of euro and or some countries exiting.These are simple economic observations and one thing is for sure we are on the wrong track as this govt is living ilke royalty with all their recent appointments which is adding great cost to the deficit between our income and expenditure .It is shameless and cannot go on.I was wondering when mr, howlin made comment "we cannot keep the lights on " did this mean street lighting ?keep up good work you put the ERSI to shame the other night on vincent Browne.It sounded like a total bluff to mefrom the representative we are looking for certainty not estimates,especially as they are being paid for so called bluff..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2826531655042170344.post-33132822095554145112011-05-12T12:48:19.333+01:002011-05-12T12:48:19.333+01:00Thank you once again for a terrific piece of analy...Thank you once again for a terrific piece of analysisFERGUS O'ROURKEhttp://www.irish-lawyer.comnoreply@blogger.comtag:blogger.com,1999:blog-2826531655042170344.post-80417882423836407362011-05-11T20:55:21.719+01:002011-05-11T20:55:21.719+01:00Hi Anonymous,
You are correct. My purpose was ju...Hi Anonymous,<br /><br />You are correct. My purpose was just to gauge what the potential benefits are of "disengaging from the banks". In my view there are much lower than has been suggested.<br /><br />The costs of such a course of action must also be considered but they have heretofore being largely ignored. The cost/benefit calculus of ditching the banks is not as black and white as some would have us believe.Seamushttps://www.blogger.com/profile/15679299530222667673noreply@blogger.comtag:blogger.com,1999:blog-2826531655042170344.post-4574869112139215922011-05-11T17:35:26.888+01:002011-05-11T17:35:26.888+01:00My understanding is that the Promissory Notes are ...My understanding is that the Promissory Notes are used as collateral for ECB funding. I think reneging on these would be a sovereign default.Anonymousnoreply@blogger.com