If you were a Taoiseach, what will you do to get us out of recession?
WHAT DO YOU THINK OF BRIAN COWEN?
I would do what they are doing in Iceland: take direct (government/treasury) control of the banks and arrest all the bankers who have been fraudulently lending out money (and then securitizing the debt: ie selling on the debt to a third party) that the banks did not have in their reserves.
This was all made possible by the deregulation of the banks which allowed them to keep transactions (loans etc) off their balance sheets (undeclared) which, in turn, led to a situation whereby no one could tell how much debt a bank was carrying so the quoted share prices of the banks in question had no bearing on reality whatsoever.
This is an ongoing situation that reaches much further afield than just Ireland. All of the world currencies are, pretty much, now only supported by debt that is being constantly shunted around the the world banking system.
I've even heard that the main subject of discussion at Davros concerns the pros and cons of injecting another 100 trillion (!!!) dollars worth of debt into the global economy.
The power that we are handing over to the banks here is totally unprecedented. If the banks - and this does look likely - were to suddenly stop lending money (please bear in mind that central banks create money by - quite literally - waving a magic wand: otherwise known as a pen) then the recession that is now supposed to be over (we wish) will seem like a mere dip in the road when compared to the precipice that we are all fast approaching.
Oh - Brian Cowen is just a glove puppet controlled by the future owners of the Emerald Isle: the IMF.
by Gary Anderson8 years ago
The consumer is the catalyst of our economy. The consumer is tapped out by bad loans, too much credit, by a greedy banking system that wanted profits before responsibility. Option arm loans, credit card loans, and other...
by Stacie L6 years ago
“It’s Going to Get a Lot Worse”: ECRI’s Achuthan Says New Recession UnavoidableWeakness in leading economic indicators has become so pervasive the Economic Cycle Research Institute now predicts a new recession...
by wacknuts7 years ago
And what does it mean for us?
by erickazoso8 years ago
I'm curious what others think, in my opinion, the current recession we're in is simply the fault of the people that wanted a house and either couldn't afford their loans or didn't educate themselves properly on the loan...
by CMHypno5 years ago
Austerity, people committing suicide, 25% unemployment in some parts of the Eurozone, yet these vast sums can always be found to bail out banks? If this kind of money is available, why not inject it directly into local...
by Lawretta Ikenga8 years ago
How long do you think this would last.I Can't take it any more. It is invading my job. it is turning the country up, side and down.
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.