Economy Rigging 1

Ponzi Illusions October 14, 2011

Filed under: Uncategorized — bashstreetkidjailbreak @ 1:09 pm

‘I am reminded of the old Soviet era joke, that explained how bureaucracy and nonsense was killing the Soviet economy…..

“We pretend to work, and they pretend to pay us”.

Well, in modern, shiny, sophisticated Ireland….

“We pretend to fix the economy, and they pretend that it is working”.

“Our politicians pretend to know what they are doing, and we pretend that we are believing them”.

Coco for Europe – Barry Eichengreen – Project Syndicate

Greek €8bn eurozone loan expected in November – Telegraph

Greek €8bn eurozone loan expected in November – Telegraph

The euro zone marriage is over | The Great Debate UK

Why Europe’s debt crisis is a storm warning for Wall Street | World news | The Guardian

Slovakian EFSF Opponent Sulik: ‘The Greatest Threat to Europe Is the Bailout Fund’ – SPIEGEL ONLINE – News – International


“Our banks pretend to lend, and we pretend that we can trust them with our deposits.”

The whole post-ponzi scheme system, is in shock, and we pretend that we can continue as normal.

We pretend that we can still afford certain unsustainable aspects to the Irish lifestyle (like 1000 km roundtrip pissups in Barcelona) and the Troika pretends that we have stopped unsustainable aspects to our consumption).

Fact is that, we cannot run this economy without a simultaneous tax hike (which will kill retailing completely – all those student and unmarried mother part-time jobs finished), and a massive cut back in public pay.

Contrary to the title of a well known author, I reckon that “the worst is yet to come”.

The borrowing of 20 Billion Euro per annum is cushioning Ireland from real austerity.

And bear in mind that the approach to dealing with the problem that has been pursued so far, is making the economy less efficient.

In fact, it seems to have been state policy for at least fifteen years to make the economy less efficient, and drive up the cost of living on everybody.’ – ANON

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