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Writes Green Ink of Green Ink on December 4th, 2007
Read more about: Cartoons, Economy, Green Ink, Satire, Unemployment
500 jobs go at Galway Plant
Budget 2008 coverage
The house price crash is not causing the recession. It’s the other way around. If anything, the house price crash is the good side of the credit crunch.
It doesn’t matter whether stamp duty is at 9% or 6% or even 0%. The stamp duty receipts are going to be very low next year anyway. So Cowen can make a change tomorrow, giving the appearance of action, without having to divert much money to finance it. I suppose that’s politics! And anyway, nothing short of a massive demolition policy can keep house prices up any longer.
But beware, some attempted fraudsters (auctioneers) are talking about “confidence” in housing and pushing for stamp duty fiddling (to line their own pockets). The reality is that falling house prices are good – if anything it increases confidence in being able to get accomodation. We are facing the prospect of a recession, and trying to inflate house prices will just drain the governments coffers and it certainly cannot delay the recession.
very very good. things are not looking good for Cowen at all. He may be facing into a tougher political challenge than McCreevy had. The political and economic conditions seem far more risky at present than during the last round of scrimping post-election budgets
Is anyone getting pissed off with these aggregators sucking in posts and tracking back to make a fiver off Adwords?
Yes I spend so much time trawling through stuff deleting these.
me too, its a royal pain. Trying to find spam plugins that cope with it but they still manage to get thru.
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Inexperienced but wealthy industrial investor loses billions using complex financial instruments to accumulate a prestige ownership stake, gets fleeced by other banks in the process. Sean Quinn? No, a company in Abu Dhabi.
something went wrong
It was the ECB wot done it: Dick Roche takes the Fianna Fail defence to the pages of the Wall Street Journal Europe.
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HSBC to pay $US63 million compensation to investors in light-touch regulated Irish investment fund linked to Bernie Madoff.
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