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About brianjamesos

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  1. Funnily enough, he declared himself bankrupt in the UK a few weeks ago, to avoid stringent Irish bankruptcy laws.
  2. Correct! As the earlier poster said, it's doing a great job protecting the people who made out like bandits during the boom, and punishing the rest. If they think I'm sticking around to pay for it, they can think again. On the day NAMA was passed into law, I transferred my savings out of the country, and decided to leave the country unitl the whole thing is paid for or written off. I swore not one cent of my taxes will ever go to NAMA, so now some other country can benefit from them. It's about all I can do to protest, sticking around to fight it is pointless under the current system. I'll be doing what I can to support getting a vote for Irish citizens abroad (which is denied to use when we move) - that would end the whole charade in one election. Don't you British keep your vote for 15 years after you leave the country? Anyone know EU law on this?
  3. http://www.davidmcwilliams.ie/the-generation-game So no transfer of wealth to the boomers? The bottom tier of any ponzi enriches the above tiers, and loses their money.
  4. Ireland is one of the most sparsely populated countries in Europe. And condoms aren't illegal anymore - whoo hoo! Not that the establishment here would have you believe it - the boom was engineered by a cabal of developers sitting on most serviced building land, like chickens on clutches of eggs. Brian Lenihan, father of current Finance Minister Brian Lenihan, was quizzed about the plague of emigration during the eighties as he was also a government minister then (politics here is very much 'keep it in the family'). His answer? "We can't all live on this little island, now can we?" That tells you all you need to know about the establishment running the place here.
  5. I'm Irish, living in Ireland, and am leaving at Christmas. The people you know must not be under 25. 25 to 30 are hanging on by the skin of their teeth, 30-35 are the poor souls who bought boom priced housing, so will take a little longer to go, but many will. Over 35 are pretty much established here, though some of these are going too. What has happened here politically in the last two years will ruin they country for many years to come (google: NAMA). When people realise this, they will go. This is not 'forced emigration' for the 25+ groups per se, but it is happening nonetheless. The under 25s are what most people mean when they say 'young people' I think. There is nothing for them, absolutely nothing. I have a 20 year old brother in college, in Dublin, and for 18 months, he hasn't managed to get a single offer of part time shelf stacking, bar work, mc donalds etc. I was recently on holidays in a small rural community, and all the talk was whole gangs of youngsters are buggering off. There was a text poll in a Sunday newspaper the other week, asking are you in favour or are you against the banking bailout (proportinately far bigger than the British or American one). In a sample size of c. 25,000, it was 95% against. People are not happy, and as the Prof. said, the political establishment are happy to see us go. It wouldn't be tolerated in any other country, IMO, it's a disgrace. The only thing stemming the flow is the difficulty to get visas for the old traditional destinations. Britain may well get a large influx. They won't be travelling to go on welfare, you'd be hard pushed to find better dole than Ireland. (200 euro a week, 360 if you have a wife and kid, + money for rent, fuel etc etc). The are emigrating for work. A lot of the unemployed here are either highly qualified graduates, or skilled tradesmen. They'll find work elsewhere all right, Canada is pretty popular it seems. Ireland is smaller than Manchester. When they shit hits the fan like now, there is simply nothing here for whole sectors. Edit to include link: http://www.davidmcwilliams.ie/2010/02/24/its-time-to-shout-stop-nama-is-grand-larceny
  6. There might have been a bit of that going on all right. They didn't like tarmaccing our drives, though Not sure about 5% of GDP. And the fish is worth a couple of billion a year, so it evens out really. Seriously, you don't see any of the good stuff in the supermarket here, it's all on the slabs of France and Spain (partly seafood has been culturally regarded as food for the poor here, going back, but I digress). I reckon it was the Frogs. They are way too precious about their food.
  7. In that case, we'll just send a bill for 20 years of free fish (in euros).
  8. Fair enough, but you must admit that 'paying creditors' tastes less bitter than 'asset stripping the country'.
  9. I am ******ing delighted your parliament is strong enough to do this, especially number 1. Because the IMF doesn't simply want you to pay creditors, it wants your states assets and natural resources privatised and sold to benefit its funding countries. This is the main purpose of its existence. The must be hopping mad . I really must visit Iceland soon and spend some money there. This type of thing is to be supported!
  10. It's right there on the HPC homepage: http://www.marketoracle.co.uk/Article13527.html Scary graph, but is it a chicken or egg scenario?
  11. I don't know what you are all getting your knickers in a twist about. In Ireland, we had central bank rules for years restricting mortgages to 90% (later 92% after much duress, thin end of the wedge eh?) and 3.5 x income or 2 x joint income. 20 years was the norm. If you needed 30 years, you couldn't afford it. It all worked pretty well for a long time, we had both a high rate of home ownership, and a well supplied rental sector via landlords. Neither out-competed the other. I remember exactly where it went wrong, as I bought property either side of the change: 2001. It started with 100% mortgages for 'professionals' (doctors etc). Then First Active ( I think) expanded the availability of 100% mortgages. Then UK lenders came in and undercut Irish lenders. Our conservative banks got jealous of their lost business and loosened up. The Central Bank turned an increasingly blind eye as rules were broken with the connivance of the Bertie Ahern government. A few years later, all hell was breaking loose to the point where a stubborn and blinkered friend of mine got himself a 40 year 5x mortgage for an apartment on the outskirts of Dublin. Currently 50% down from peak. So, again, what is wrong with rules on multiples, and deposit amounts for that matter? I for one am looking forward to a return to that relative normality.
  12. Do you not have these over there yet? They do my head in, but I use them. I'd imagine the increased opportunity for theft is more than offset by saving salaries.
  13. Bill, Maybe change 'Soz' in the title to 'Secret of Oz', I passed over this thread a few times today, maybe people are missing it. And well done!
  14. Of course and that. Our crazy dole means no-one is really suffering. Yet.
  15. Strange thing is, Dublin doesn't feel that different. I think unemployment has hit small villages and towns worse than the cities, because a huge number of young men were involved in building houses in the middle of nowhere / on a couple of acres their Dad gave them to try and give them an option to stay at home. Also, a lot of the people involved in construction and other fluff work in Dublin have buggered off home (down the country/eastern Europe). Anecdotally, I hear of many people back home living with Mammy in Ballynowhere. So rentals have been hit bad (yaay!) and you see a lot of boarded up shops, but otherwise, not too bad. Not like the 80s (yet!). Then again, I don't much venture into the suburban hell that is west Dublin.
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