So we have reached the point where the Irish government is ineffectual and powerless in relation to the running for what is supposed to be our Democratic Republic of Ireland. What’s more, the parliament in the European Union is also powerless and ineffectual in relation to the drama is unfolding in Europe. Make no mistake about it, as we approach the end game of this financial disaster our real masters are those in the financial services industry and their media and political insiders.
The question that must be asked is how is it that we the people of Europe have allowed these people to get into such a powerful position, that they can dictate the lives and futures of hundreds of millions of citizens? We could scratch the surface and suggest that we gave away the power to our self-determination as a country to Europe, are when we voted for the Lisbon and proceeding treaties. But this would be just too simplistic.
You may read this and think ‘oh, here we go again another sideline commentator whingeing about the banks or the government or the EU or the markets and yet providing no concrete alternative to present course of action.’ To some degree you would be right but then again I and many commentators and observers can only discuss what we understand, unlike the clowns in government who simply pretend that they understand it all.
You see, like most people I am not a banker, an economist, a pension, hedge or investment fund manager, a member of the European commission, a captain of industry, a member of the elite Bilderberg group (Google it) or indeed, a market trader. In other words, I like the majority of citizens of this country and the European Union are far removed from the levers of power whereas the aforementioned so-called “professionals” are the very people who pull all the levers.
The system as it presently is constituted is designed specifically to keep people like you and me as far away as possible from having any influence whatsoever. They have designed a system in such a way as to make it appear democratic yet, when we and many others disagree with how they are running (or ruining?) our lives, we are simply dismissed. We are told we do not understand. We are treated like ignorant uneducated people incapable of making rational decisions based on our own values, knowledge and beliefs. Their arrogance is staggering.
This group of people has become a very powerful Ruling Elite and if they get their way, they will become even more powerful, less democratic and increasingly more insidious in their contempt for the citizens whom they purport to represent or in whose interests they say they are acting. The harsh reality is that there is nobody at the heart of the system is actively working in your interests. The very best brains in the world are dedicated to continuing with a system has proven to have failed, in order to protect the interests and quality of life of a tiny minority at the expense of the substantial majority.
This Ruling Elite are among the most highly paid, privileged, highly educated and experienced professionals yet, they seem utterly incapable of finding any solution to the existing challenges in the financial markets. This can be a result of only one of two reasons. The first is that they are actually completely incompetent and had been so busy financially and raping the rest of us that they didn’t see it coming or more likely, it is that secondly, they know that if the system is to change in any substantive way, it is they who have the most to lose. I believe it is for this reason that we are continually lied to and fed the bullshit line that there is no alternative to the policies that they are now pursuing.
The Ruling Elite have a different set of rules under which they operate. These people spend every single day pursuing their own agenda, for their own personal financial enrichment or to feed their insatiable desire for control and power over the rest of us. You have to look no further for evidence of this than the fateful night in which Cowen and Lenihan agreed to bail out the banks, with your money.
The Chairman and CEO of both Bank of Ireland and Allied Irish Banks lied about the situation in their respective companies (go on, sue me!). They claimed that their companies were simply temporarily short of cash. A simple matter of liquidity, in bank speak. The actual reality is that their banks were in fact, bankrupt. You, your family and your children will pay for this lie for the next twenty years. Meanwhile those men and it is nearly always men, get away scot-free with huge pensions, golden handshakes or as is the case they are still in their job!
The fact that we here in Ireland are actually paying the debts of privately held companies on the grounds, we are told, that they are of such systemic importance that they cannot possibly be allowed to fail is, quite simply, the biggest lie ever foisted on this nation. We are supposed to be living in a free market economy but obviously that only applies to relatively poor people. If we were to put the people first and their long-term welfare at the heart of decision-making, there are a multitude of solutions which could be implemented which would serve the needs of us, the people.
We have 3 solutions to the government debt crisis. Raise taxes and reduce spending, but most of this would have to come from the wealthy and upper middle classes, as the poor and lower middle classes could only take so. Secondly, default on the bank debt, but this would only buy time while we get our finances in order. Thirdly, print more money, which of course will lead to inflation. The newspapers push the third option, and there is a very good reason. The newspapers are into the banks for huge loans, and printing money would reduce their real debt because printing money would cause inflation, therefore deflating their debts. All the commentators from Universities and the media push for default, and with good reason. The commentators all earn good money. So, they do not want increased taxes on the hgih earners. They also do not want to print more money because this would effectively, via inflation, erode their high salaries. The Fine Gael does not want to raise taxes on the wealthy, including businesses, because they get donations from them, and Labour does not want to cut the high salaries of those in the public service.
Michael,
While you point out that there are three potential solutions you do not give an indication of what is your preferred option. Would you care to tell us what you propose ? I know that there is no painless way out of the current economic crises and whatever road we take, or continue on the present disastrous course, there is always going to be detractors with a vested interest.
We have to leave the Euro. We need to introduce a National Bank (not AIB) that is purely a transaction bank. We MUST refuse to pay anymore of the bank debt (i.e. separate it from sovereign debt). Wealthy people will lose money, some a lot. But that is the free market. We are more than capable of showing true courage , standing on our own feet (and still part of theEU) and having some fucking pride in OUR country. The alternative is what we have now. Reducing or non existent control of our own economy and a certain recession of at least 6 years IMHO. Maybe it would be similar outside of the euro zone but at the end of it would will have a fairer society and relatively little emigration. I could go on an on and on……
Like ER above I also fully agree, The new government promised change, but there is no change, they plainly told lies in order to gain power. The very same will happen the next time. GET POWER BY WHATEVER MEANS NECESSARY, and then make the means justify the end.
BUT will anything really change. They, the privileged bankers,that caused the problem, have cosseted,protected and sheltered themselves so securely,that while they will just offer us pious platitudes, and tell us “we know where you are coming from”, “we know what you’re saying “, “we feel you pain ” etc etc etc, **liathroidi ** , deep down they don’t give a shit, someone will pay, but not those who caused the destruction. They will sit in their plush offices, sip their coffee, look out the windows, at the protesting plebs, be so entertaining and amused, and think about their pensions, lump sums, expenses etc. They know, with certainly that they will not have to pay.
Will Irish history record how these elite and untouchable groups in our country,were so generously rewarded for destroying a nation in such a short time scale, whereas the might of an empire failed over 800 years. Like ER above I am self employed and know on a daily basis the results of these “experts”. I have 5 children, 4 of them and their families, 13 people, are spread over the world in forced emigration. I know that not one of these “bankers” or “Destroyers of a nation and it’s people” will lose a blink of sleep.
I agree with Eamonn, these ” professional” ( bankers, experts) have such an arrogance that it is beyond staggering. It is mind-boggling.
At least we still have our vote, that is those of us still in the country.
Yes I agree we the Irish people have got rid of 1 shower the government and replaced them with another shower.
This government is all about looking good in Europe ,wait till they try and bring in the next budget the shit should hit the fan when hard pressed people are asked to dig even deeper for what ,so we can be the good boys of Europe .
I am self employed in services sector and have seen my turn over go from good with 4 employed to 1 me working part time if I hear, export this export, that again I will scream the frustration of trying to get through to this government is like trying to pull your finger nails off with a pliers they just don’t get it,the same as the last government did not get it I would not put them in charge of building a Lego house let alone run the country. Sometimes I feel I can see the future in slow motion and I don’t like where it’s going. Thanks.