Economy Rigging 1


Filed under: Uncategorized — bashstreetkidjailbreak @ 3:30 pm




If you look at Ireland, you will see that there is a two speed Ireland. Or perhaps two poles in the economic system. One is based on maximizing the margin. The other is based on customer satisfaction.

There is the part of the economy that is controlled by the state/IBEC. D2, The courts system, the HSE, semistates, oligopolists, the Duopoly, etc.. And the speed there is a joke. Because most of the time they are stuck in reverse. It is all about getting a bailout from the tax-system, paying the party with donations (or maybe making each way bets on all of them), price fixing, deceit to prevent price competition, etc….

Then there is the rest of the economy. Basically the part of the economy that is a price accepter based on market conditions, and where there can be no market manipulations. Manufacturing, Technology, Tourism, Agriculture, traded services, etc… And the speed there is based on the need to compete. This part of the economy can operate at high speed. But most of the time it is sucked dry by the excess profit-taking, cronyism and gombeenism that eminates from the first part of the economy. And in particular we need to do something about the manufacturing base.

One pole is based solidly in D2, with Kildare Street, the ISEQ, the departments, IBEC HQ, ICTU HQ, the banks, the political parties. These are the people who never seen it coming, and who say that it is not that bad really, as long as everybody spends more than they earn and props up the system. It is based on hierarchies, old school ties, networks, untold truths, and keeping the rest of the population in the dark. The ultimate extreme are overpaid wasters like Clowen, McUseless, Calamity, Gormless, sNeary, McStaid, Fingers, Rich Boucher, Baby face Doc, FAS directors, McNama, who need power to make the rest of us pay for them. Once they get themselves into place, they are impossible to get out.

The other is based at the other end of authority, where there is less authority, where people are inclined to use Ryanair, listen to George Hook/Matt Cooper instead of RTE, where leisure is secondary to making ends meet, mortgages, job insecurity, making do without, optining out of the standard Irish lifestle concept….These are the people who start anew every morning to keep things running in this country. The ultimate extreme here is the workers in Dell or SRS technics, resigned to their fate, liable to be placed out of work regardless of how well they have worked, and far from overpaid.

These are poles of a spectrum. As David often points out Insiders, and Outsiders.

And in between the two, keeping it from changing, the collective belief that it could not be done better, perpetuated by pretend reformers down the years who ensured that nothing was ever reformed. We need reform not more catchphrases. It is happening slowly.

Because the veneer is lifting. Because people are realising what is really going on.

Forget bailouts, it’s time for a two-speed Europe | David McWilliams





Take a look at this from MORGAN STANLEYS EUROPEAN CHIEF ECONOMIST, Elga Bartsch.

‘Morgan Stanley’s European Chief Economist, Elga Bartsch noted:

Like the ERM crisis in the early 1990s spurred on political initiatives to bring about the long-planned monetary union in Europe, it seems that the sovereign debt crisis could be acting as a catalyst for an ever closer union of European countries. The decisions taken this weekend first by European leaders and then by finance ministers mark a big leap towards a fiscal union in the euro area, we think.

Not only have countries agreed to stand in for each other in an unprecedented extent, they have also agreed to foregoing some of their fiscal sovereignty and submit to rigorous fiscal consolidation programmes should they require financial assistance.’

So, in other words the sovereign debt crisis across europe is been used as an excuse to dilute economic independence of individual nations to a vastly empowered centralized system under the threat of economic obliteration.

Another step towards a federalized superstate governed by unelected power brokers perhaps..?




Covers post Neo Classical Economist Philosopher

YouTube – Keiser Report № 42: Markets! Finance! Scandal!



Comment at BLOOMBERG on EURO bailout update.

ECB ‘Shock Troops’ Go Solo as Investors Quiz EU Plan (Update1) –


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