This page has been archived and commenting is disabled.
Ireland Unveils 4 Year Budget Details, Riots Imminent
A bunch of completely irrelevant numbers released by Ireland. At best these will achieve nothing but will kick the can down a few more months. At worst violent rioting will be a daily occurrence in Dublin within a week.
From RTE:
- The Government strategy aims to make savings of €15bn over the next
four years, with a €10bn cut in public expenditure and a €5bn increase
in taxes. (riots) - It said that 40% of the measures (€6bn) will be frontloaded in the Budget, which will be delivered on 7 December.
- More than 24,000 jobs will be cut in the public sector over the four-year period.(riots)
- The public sector pay bill will be reduced by €1.2bn and pay for new
entrants will be reduced by 10%. While public services retirees face
significant cuts in their pensions. (riots) - Ireland will raise VAT rate to 22% in 2013, and 23% in 2014 (riots)
- Ireland may tap pension reserve fund for infrastructure plan (kiss that retirement money goodbye)
- It says the numbers of people paying tax must increase, but that an
income tax system where more than 45% of tax units pay no income tax is
not sustainable (riots) - Ireland promises to maintain a 12.5% company tax rate (this will be revised soon courtesy of Olli Rehn and the European overlords)
- And the funnitest thing you will see today: the government expects to grow at just under 3% for the next 4 years.(laughter)
As Portugal is currently gripped in its biggest general strike in history over precisely the same issue (austerity budget), sit back, and enjoy the Dublin riots to cause Waddell and Reed to sell some ES soon to quite soon.
Full 140 page plan here, and the abbreviated leaflet is below:
»
- 13266 reads
- Printer-friendly version
- Send to friend
- advertisements -
it's like seeing into the future.....
yeah, backwards. Die Zeit ist nahe meine Freunde! Unmengen an Kohle und dann ab in die Schweiz! Goldstücke Zählen! :-)))))
Alles in ordnung! ;)
Who knows. After a few pints as the local pub, someone might get a bit pissed about all of this.
Pissed yes. But if the pub is warmer/drier than the outdoors and if the brew is affordable the masses will stay at the pub content to shake their fist at the tube and one another. Much like we Americans watching our personal freedoms get yanked out from under us. We bitch about it on FIXED and MSNBS but hide out in our comfy heated homes playing with our Apple toys. All part of the gov ploy...keep the masses comfy and there will be no civil unrest.
Bread... There is a sandwich in every beer!
Circuses... 100+ rings non-stop all day long on TV.
We won't do shit except overodose on xanax when the beer runs out.
You should try mixing them. I got good results from 14 pints and a small handful of xanax back in the day. i'm 180lbs and threw a 260lb bouncer across the room when the prick tried to put me in a hold.
Alcohol + Xanax!! Marvellous synergy!!
Looks like they went easy on the existing retirees with apprx. 10% cuts in pay. I wonder how deep the cuts will be in the states when it's our turn.
Thoughts Leo ??
"The reduction will apply to existing Public Service pensioners, former office holders, retired members of the Judiciary, and their survivors. For existing public service pensioners and those public servants who retire before the ending of the ‘grace period’ at end-February 2012, the legislation will provide for an average reduction of some 4% in pensions in line with the following rates and bands:
Annual Public Service Pension (€)
Reduction Rate
First 12,000
0%
Between 12,001 and 24,000
6%
Between 24,001 and 60,000
9%
Balance above 60,001
12%
There is no change in public service pension scheme terms. Pensions will be calculated in the usual way according to those terms. In the case of existing public service pensioners and those public servants who retire before the ending of the ‘grace period’ at end-February 2012, there will be an average reduction of some 4% in pensions with the application of the above rates. As those who retire after this date are subject to the pay reduction of 7% on average, which will reduce the pension and lump sum to be paid, the Government has decided that it would not be appropriate to also apply the pension reduction to this group.
72
They came up with the 140 page austerity plan very quickly (for govt workers). You would almost think that someone had prepared it for them.
When the cuts come here, they can't be deep enough. I pray to myself that we get 50% cuts in pensions and entitlement programs.
Sign 'o the times when prayers become slashing of wrists.
Wow. Are they ever learning the US methods. Maybe we can outsource the BLS.
I dunno, the Bureau of Lies and Statistics (redundant) still has a few tricks. Stating a couple of days ago that they have discovered "errors of unknown magnitude" in the ECI releases dating back to June 2009 is pretty nifty.
Translation: we're going to be revising employment costs higher/lower for the past 16 months to make corporate profitability look even more/less plausible since the recession ended; direction and magnitude of changes TBD depending on needs of our shadowy overlords.
To amplify on Disraeli, "Lies, damned lies, statistics, and government statistics."
part of the irony: periphery paying for core banking follies. Yet core is complaining.
Wow! Bbbbbbbad news for the Irish. And the budget to be presented on the 7th of Dec. Does the gobbermint of I know that is the bank run date? Are they trying to add fuel to the fire? Damn IMF, scrouge of the world, but only another 3 letter agency following their master's orders, eh?
I suggest a Seige with Spud-guns!
Go Ireland!
ORI
http://aadivaahan.wordpress.com
Wonder where all those Armalites have been stashed?
Minimum hourly wage cut by 1 euro.
Thats going to go down well with the natives.
yes, but still more than $12 per hour...way more than that of US..even though the money to bail them out comes partly from IMF (us)
The money doesn't come from the USA. You backstop the money to the tune of 7% which is a lower rate than some other countries. The money comes out of thin air like all bank monies. The IMF is a scam.
Yes, but we don't have 3 dollar gas, its €1.30 a litre, that's $6,57 a us gallon! I have just had my wages cut by 15% while my college fees have been raised from 1500 a year to 2000 a year. My wife has just taken a €3000ish annual hit and her job is looking shaky, you should realise that that minimum wage is in one of the most expensive countries to live in in the world, a comparison with the u.s is neither relevant nor helpful!
Got to keep that govt growing exponentially at 3% yearly, damn everything else!
They are delusional. Best case scenario is for Ireland is that it runs through its $85 billion in 15 months and then they are in the same exact situation as today. Collapse is imminent. Just a matter of when.
sometimes i sip on sodapop and feel that ireland is like greece, portugal, and spain
Bondholders used to send in gunboats, now we have the IMF.
We've been caught in a living standards bubble, get ready for the riots as it implodes...
Couldn't agree more...
Ok, forget Tehran, the three AirCraft Carriers and my state visit w/ presiden Abidahalbangadabilanadada.
te action is gonna be in Dublin...I've ordered an Open Landau for a Dublin Parade with me starring at the end...like Santa Claus.
The Irish people love the Austrian Royal Family State Visits.
Haven't seen action since June 1914 in Sarajevo.
hrh ADF
...and please make a speech on the need for extreme austerity and good behavior as payback to Austrian bankers for greed and debauchery during the aughts!
3% GDP GROWTH?! Are they kidding? HOW?! Unless they set up slave labor shops like in China and export toxic shit to the US, "it ain't gonna happen!"
They have as much credibility as OJ Simpson at a murder trial! LMAO!
3% government growth was the number
Little plastic Leprechauns w/ lead paint ... ! Kid's will love them.
LOL
OMFG!! THAT, is hilarious! The irony is KILLING me!!!!
AhHAHAHAHA!!!
So tax raises for the general population, job and wage cuts for the public service, surely benefit cuts as well to the social safety net.
And on the other side, corporate tax rates stay low and bondholders made whole on their bad bets.
What a world. Only violence will stop this trend. What finally triggers it, who knows? The bread and circuses still seem sufficient to keep people on their couches (or computers, like me)
Shit you think that's gonna happen. We allow our women and children to be exposed to x-rays or groped all in the "name of safety". This country has no spine left.Completely docile sheeple.
IRELAND'S 'NEW POOR' JOIN QUEUE FOR FOOD PARCELS
2010-11-24 14:00:32.656 GMT
By Sarah Stack
November 24 (Press Association) -- Ireland's new poor struggling to survive the job losses of the recession are among hundreds queueing for free food parcels each week.
Little children taken to shelters for hot meals are pretending to school friends they are taken to hotels for lunch everyday.
As the Government publishes a four-year master plan to get the country back on the road to recovery, the stark truth about some of Dublin's most disadvantaged is laid bare at a day centre run by monks.
Campaigner Brother Kevin Crowley revealed people are living in fear of a planned six billion euro budget.
"People are in fear of what's going to happen. There's anxiety. The biggest fear is the budget," he said.
"One of the things I'm concerned about is how the poor and working class people come out the worst in all of these situations."
The Capuchin Day Centre was founded by Brother Kevin in the late 1960s. At the time just 50 food parcels a week were handed out to Dublin's homeless, many of whom had drink or drug addictions.
"We have a new kind of person coming now," he continued.
"Over the last year we have people who are finding it difficult to make ends meet, who have problems trying to run their homes and these are the people that we call the new poor.
"A number of people are of course ashamed to come to a place like this for food. It's very difficult to queue in the street for food.
"It's degrading for people.
"Some of the little kids that come in here with their parents have to tell their pals in school they're going to a hotel for their dinner."
Up to 250 breakfasts and 400 hot lunches are dished out to the city's most disadvantaged every day.
About half of those taking shelter in the warmth are Irish. The rest are foreigners who came to Ireland during the boom years to try to make a better life.
The majority are middle aged men, the harsh years of their lives etched on their faces.
A steady stream of people queue outside where 900 shopping bags stuffed with basics like milk, bread and tea are handed out each week - a shocking figure that has doubled over the last year.
Brother Kevin insisted even at the height of the Celtic Tiger Dublin still had its fair share of poor.
"But now, especially with the recession, people are really living in fear and desperation," he continued.
"I have met people who lost their jobs and have to come for a food parcel.
"We don't ask any questions because we think it's difficult for people to come to a place like this.
"I feel people wouldn't be coming here if they weren't in need. We show them respect and dignity.
"Some say it makes a huge difference to their lives."
Running costs for the centre are 1.2 million euro a year, with just 450,000 euro from the Government. The rest is made up through donations, fundraising and the time given by 100-plus volunteers.
Former heroin addict Noel Fagan said Dublin's homeless would starve without the centre, where men and women can shower and get clean clothes.
Cradling a mug of hot tea, he looks at ease as he smiles and holds out his warm hands.
"It's the warmth of the people in this place," he laughed.
"The staff. They're great. They'd do anything for you.
There's one of the staff, he went over to watch a Liverpool match at the weekend and he brought me back a Liverpool jersey."
Now in his 40s and living in a B&B, Mr Fagan revealed he lost his flat, car, job and two kids because of drugs. He has been visiting the centre daily since he became homeless around
12 years ago.
"The food is great and it's for free. That's why there's so many people in here," he said.
"I mean Wednesday is the busiest morning of the week because they get the shopping bag.
"You'd be lost if this place wasn't here. You'd starve.
The people on the street would starve."
They were caught with their pants off.
Distribute plastic bits with a credit on it. People could buy their stuff in stores and do not exhibit their poverty in this offensive way.
Bread lines are so 20th century.
That's 4,000 dollars a day for 650 meals. They obviously have never met the Sherrif of Arapaho who runs that Arizona prison.
Ah, the closet princess who depends upon inmates in pink panties for his kicks.
The whole system needs a reset and the sooner it happens the better.
There will be no reset until people snap. This is a great social experiment, pushing people to their absolute limit. Seeing how much people can take.
The further out they push it the worse it will be.
In other words, we need to find Billy Ray Valentine and work together to fight the Dukes?
Billy and Louis Winthorpe III.
http://www.irishtimes.com/indepth/budget2010/extras/the-big-picture.html
Nice overview of the 2010 budget...these cuts are not nearly enough and Irish yields seem to be confirming that.
But the markets are rallying so who cares....
First Iceland, then Greece, Ireland, next Portugal and Spain, and rest of EU.
I'm not Nostradamus, but I can see the future of the USA from my backyard.
There will be no riots, at least not at any level to result in meaningful changes.
The Greeks tried it and now they are back to drinking frappes.
The French tried it and now they are back to enjoying their expresso.
You are underestimating how much control the "state" has assumed, and how much serfdom the public has already accepted.
Sad but true.
Winter is coming, it's gotta be real bad to riot in the winter.
It's not so bad if you can get close to one of the burning police cars...
The Irish are neither Greek nor French I can assure you that. Did you see the British riots over tuition increases today? Revolution is being fermented all across the globe and it may take years but it is coming.
Are you the same Irish guy who owes me one hundred? I met one Irish guy. Big on irish pride. Was before Lisboa was voted a second time in Ireland. Guy was high on how the Irish would riot in the treaty was passed. Myself, I supported the point of view that the Irish were only trying to secure the best deal for themselves, crafting their own version of the EU constitution.
So if you are that guy, you got my address. Please send the money.
I am also willing to take a new bet.
You're right. Reality TV is the opiate of the masses. Obese people just off the couch can't sustain rioting for very long.
http://www.occupiedlondon.org/blog/
That's a lot of frappes, idjit.
I duuno about that. In this country, I agree... We are owned so many times over, they can't find the paperwork on us anymore!
Have you ever seen a Greek Soccer Hooligan?
How bout a Frenchy Hooligan?
The Irish like to beat the shit out of things and they do a pretty good job of it.
I'm betting the Irish get going soon...
Bank of Ireland shares torched again this am. Down 25% on day. Now worth just 1% of their valuation at the highs of 4 years ago. AIB also down big. Both will be nationalised, capital reserve ratio to be raised from 8 to 12%.
Let nobody ever again question whether or not we are in the beginning stages of a global group of elites attempting to form one government. We have had our warnings with TARP and its execution within a week to transfer our wealth. They will have slaves of us all.
They are actually tryingto use the pensions of the nation to backstop their loan as collateral??? And the bankers are not subect to a SINGULAR haircut?
This is it everyone this can end in only two ways which is revolution or fascism. They had taken everystep necessary to ensure there is no way to reverse course without ending the financial world.
We must be brave enough to face this threat of MAD but i have to tell you I am a pretty scared at this point. Those "budget" cuts were like reading the deleration of indentured servitude.
Those "budget" cuts were like reading the deleration of indentured servitude.
Because they are just that. Yet there can be the prospect of loss in the marketplace since that would undermine confidence. What a load of crap.
We're heading for an end game with global banksters all sequestered in Monaco, surrounded by high security and everyone else rolling debt to support watching TV from the couch. All thanks to a money-printing program that keeps interest rates at zero and stocks rising at 10% a year.
We might be on the threshold of a period of unprecedented peace where anyone not liking it is a 'terrorist'.
Might be?
Remember 9/11?
You are either with us or against us.
You are obviously against "us"... And in good company.
I am of the opinion that we were pretty much born slaves, so "making" us slaves is really only letting us know the score.
Financial MAD is not so bad. You still have clean water, air, home and no radiation.
Yeah it would be bad, but not that bad.
The other MAD is scary.
I don't agree with all the madness, but its way too late for any solution that people would willingly agree with.
Nobody in their right mind is going to step in front of this Runaway train... They won't even try to lasso it from behind.
So we will wait until the system reaches criticality and assume the fetal position.
Maybe not there, but with typical American ingenuity and a can-do attitude it will work here!
Riots? We don't need no stinking riots. (and there won't be any of any substance for any length of time)
Just like we discussed a few days ago, the propaganda machines are tweaking the brains of the sheep into believeing it's their fault. The PM will be sacrificed but he'll get a corporate job with a nice parachute. It's a re-run of a B movie.
Dubliners Angry at Government Rather than IMF
http://www.spiegel.de/international/europe/0,1518,730918,00.html
wow
Where are the figures for the bank bailout in this proposal
Ireland needs me to do a State Visit & Parade.
hrh ADF
3% growth is difficult. If they legalize sex tourism and weed maybe they can meet the 3%. It will be difficult for a catholic country.
They can outsource to Bangkok
I HOPE no one beat me to this:
http://www.youtube.com/watch?v=zoJYM3krDWQ
R.I.P., Joe
Here's a thought. The Banks are taking most of this money because they are out of money, so why not tell the bankers to take a 50% pay cut or they don't get any money. It really does not matter where the cuts are it's all coming from the same money. So WTF?
I'm sure this will happen?
24,000 gov't jobs to be cut over the 4 year period. Out of how many?
So far very quite here...govt just finished a big press conference. Talking heads very critical of govt. plans. I'll send pics if things get exciting (as I sprint for the US embassy).
http://www.youtube.com/watch?v=sDSud7vAH_0
from ftalphaville:
"In the stressed conditions which have obtained in the bond markets in recent times, it has been frequently suggested that the State use the resources of the National Pensions Reserve Fund to support the Irish Government bond market. Such a step would be very beneficial to the markets and would demonstrate the Government’s willingness to ensure the funding of the Exchequer’s needs. Accordingly, legislation will be brought forward to enable the NTMA to deploy the resources of the NPRF to support the Exchequer’s funding programme to the extent required. The NPRF’s holdings of preference and ordinary shares in Bank of Ireland and Allied Irish Bank will not be affected by this move."
raiding the pension fund to bail out the banks.
nice
http://www.youtube.com/watch?v=Xbp6umQT58A
Very funny (and sadly true) post (riots).
Has anybody located the fire exit from Crazyville yet? Not the pop-out door with inflatable raft, but with the "your in the driver's seat" drop.
And don't say "Gold Bitchzzz".
Until people riot to lower their minimum wage even more, to increase taxes on all strata of people and businesses, to whittle entitlements into mere shadows of their former selves, and to significantly lower our standards of living, we will make no progress. Alternatively, we could riot to repudiate existing debts in an effort to streamline the drawn out, inevitable affair. People still have this presumption that if they just re-arrange this or that chair on the deck of the titanic, the ship won't sink or, sadly, that their lifespans (present way of life) will be materially increased. Both are complete and total nonsense.
Hate to tell you guys, but running around in the street with a sign over your head and tossing a few rocks at armored police is not going to influence policy.
Someone has to start shipping sniper rifles to these people. Until there is some killing done, there is no revolution and they will be ignored by the bank executives booking taxpayer funded beach vacations.
yeah, i'll pick your targets chief, heres #1
http://www.youtube.com/watch?v=BzN0Js0tKZ4&feature=player_embedded
You cant miss, he's usually in the bar.
Mohamed El-Erian of PIMCO advised his sister that she should withdraw all her money out of the Irish banks! Posted at businessinsider.com "El-Erian: "What You Advise Your Sister In Ireland Now Is That You'd Say Take All Your Money Out Of Irish Banks."
When the manager of the worlds largest bond fund says that - WOW!
The growth rate isn't the funniest thing there, although i must say, it does make me smile.
Unfortunately you are correct scratchy. Any word from the "Real IRA"Sinn Fein etc.?
I can see those guys doing very well at the elections. If they get in they will just tell the Banks, IMF, EU etc to go to hell.
sinn fein don’t really have the talent to capitalise on these events thus far beastie, IMO, but yeah i am sure there are some people now wanting to reconsider republicanism. More or less because most folk don’t have a clue about what’s actually happening, or what it all means, including, im sure, most sinn fein councillors(they aren‘t known for their financial tact, they had to hit the ground running even with a lot of day to day politics, never mind global ponzinomics). Any anger out there is a long way away from being channelled into anything meaningful, mainly because the details and consequences of what has just happened have yet to hit home, it’s quite a mess. I suppose it’s not outside the realms of possibility for the Real IRA to try some populist manoeuvres when things heat up, i.e. whack some poor bastard. No doubt they are toiling away in the shadows as we speak, but I am sure they are having mucho trouble as to whom most of the blame lies with!
Lots of riots and a little laughter. Ireland sounds like a fun place!
From speaking to paddies, the only people left in Ireland might riot, but it will soon be put down, by kicking away their zimmer frames. The young are already leaving in droves!
Ooops Database down!
Ooops "Database down"!
Ooops "Database down"!
Driver is stuck in a traffic jam on the Quays when a Garda knocks on his window. He says 'Terrorists have kidnapped Brian Cowen, Brian Lenihan and Mary Harney'...'they have demanded a €30m Euro ransom otherwise they have threatened to douse them in petrol and set them alight'...'I am just going from car to car to take collections.
Driver asks 'How much is everyone else is giving?....
Garda says 'About a Gallon each'..........
LOL, nice one.
Test