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dryrot

David Mcwilliams' "the Good Room"...

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Hi

... is at our local Poundland for £1 (natch). It's worth a read; his latest I think (published 2012). Ireland is not fixed by a long way, but they seem to have halted repos. (All that means is extended debt

and a false market but we in the UK are in no position to sneer at that! :))

Anyway, pick up a copy; well worth £1. He does touch well on the human cost of the property absurdity.

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There is a line in one of the Amazon comments on this book that says Irish negotiators in Europe behave like old Irish Grannies being subservient to the Priest or Doctor in the "Good Room" (specially opened for the visiting deity) :lol: The sooner the EZ elites are told to F*uck off the better IMO.

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Hi

... is at our local Poundland for £1 (natch). It's worth a read; his latest I think (published 2012). Ireland is not fixed by a long way, but they seem to have halted repos. (All that means is extended debt

and a false market but we in the UK are in no position to sneer at that! :))

Anyway, pick up a copy; well worth £1. He does touch well on the human cost of the property absurdity.

I know personally of several houses in and around Galway that are incomplete have been "for sale" at unrealistic asking prices since 2008. Inflation seems to be doing very little and as time goes on these 'new builds' fall into decay and become out of date.

The banks really should be taking write downs after 7 years of non-performance on these types of debts. There are tens of thousands fo properties and people underwater. The banks keep extending with the aim of taking everything when the debtor dies.

It's a shame really because if the banks took a decent write down all that now empty property could be sold cheaply and become occupied property. But that's at odds with inflation and exponential growth.

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So do reprentatives of debtor nations get taken into the bad room when they visit the Troika. They must do but it all seems very infantile.

Edited by billybong

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I have his list downloaded to my gmail. Interesting stuff although obviously mainly related to Ireland

However, we are one of Ireland's major trading partners so things here have a big bearing on them.

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