What is truth?

Archive for April, 2012

Seeking Clarification Please!

EU Economic and Monetary Affairs Commissioner

EU Economic and Monetary Affairs Commissioner (Photo credit: Wikipedia)

From

From :Christopher M. Quigley

to: Thomas For your attention:

Sent To All Dail Member Today:

“Pacta Sunt Servanda”

“Article 4 states that a country must not have a debt bigger than 60%of what it produces in a year (its GDP). If it does, it must reduce its debt byone-twentieth of the excess each year. This is an existing EU rule.”

Seeking ClarificationPlease.  This is my understanding ofArticle 4 of the Stability Treaty and its implications for the Irish economy.If I am wrong will somebody please elucidate.

Theabove statement regarding Article 4 is on the Government’s referendum  website. Please notice that it says that the60% provision relating to GDP and debt level is ” an existing rule”.

CurrentlyIreland is breaking this rule but has had bonds backed by the old”Stability Facility”.

Underthe new treaty we are told the letter of the law will be applied. (“PactaServa Sunt”: Olli Rehn is so quoted as saying that the Euro Community”is a community of laws” and as such “all written commitmentsmust be fully adhered to”).  Thusgoing forward, under the new paradigm, Ireland will not be allowed to havetotal government borrowings in excess of 60% of GDP. Ergo:

 

Our total debt isapprox:               148 Billion Euro

Our GDP is approx:                      156Billion Euro

60% of GDP is approx:                  94 Billion Euro

GDP Austerity Cutsapprox:            54 Billion Euroover 20 years which means 2.7 Billion a    year.

Source:  CSO Press Release November 2011. Seeattachment.

 Summary:

Thus additional cutsof 2.7 Billion Euro will have to be added to the cuts already beingadministered by the Troika. When this IMF/ECB/EU facility expires in 2013yearly “GDP Austerity Cuts” in addition to the current “FiscalBudget Austerity Cuts” will apply for the foreseeable future (possibly for20 years or as long as 60% Gross Gov. Debt/GDP deficit applies). Given that major economies are now in doubledip recessions it is unlikely that “growth” will be able to mitigatethese cuts which now have to be set in unbreakable constitutional terms. Ittherefore appears to me that this treaty is an “austerity treaty”

and it would appearthat this is why it was not backed by Britain and is being fought against byHolland, France and Spain as we speak.

Thanking you all foryour assistance in this critical matter.

Keiser report 280

Spot the difference the dinosaurs and the political dinosaurs

Spot the difference, the dinosaurs and the political dinosaurs!

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Up date from Lubeck 3

Here in northern Germany we are in election mode and the local politicians are out and about I haven’t met anyone and nobody has called to the door. All I can surmise is that the election is fought on the local radio and some public meetings but the three main parties are all spouting the same and there is no real difference in policy .The all present themselves in been experts in business and industry .Apparently “The left “got into power the last time as a junior partners but they do not have seem to have any major effect and consequently are suffering at the polls. There is another colourful party called the pirates and they seem to be growing in popularity. On one of their posters I see their call for an end to backroom deals and call for more openness in politics ..I would vote for them if I could vote!!!

Billboards are all around the place (see photos) and this one from the CUD (Biggest party in Government) The CDU politician says to German children

Text says “For your future without debts”

Of course Irish children will be drowning in Deutsche Bank’s debts for the next two generations because these lying politicians haven’t the balls to tell the German people that they have in effect gambled away all of their savings and have managed to get the gullible Irish to pay interest on debts we haven’t a hope of ever paying back. All this is done because our own gutless politicians have sold us out to these spineless German politicians.  No doubt the German People will wake up one day when the rest of Europe won’t buy any of their products and then the proverbial sh** will hit the fan!

Well enough of politics.

Visiting the town we have this group of travellers with their dinosaur exhibition.  I went along to get a few photos for the kids at home! Judging from their big massive trucks they must be raking the lolly in!

The weather is not doing so well and we are experiencing April showers and some bright sunny spots every now and again but it is cold when the sun is not out. I am told it should start to be a lot warmer in the coming days!

I came across this fabulous jewellery shop in the Hux STR yesterday; do take a look when you visit Lubeck. I guarantee you will get a decent cup of tea and some most unusual silver rings and some extraordinary wooden carvings for your home. The shop is at the lower end of the street  but Hux str is the best street for shopping and it is well worth the visit!

 

Parents stage Dáil protest over care payment cuts

Crop of Joan Burton at launch of the Labour Pa...

Crop of Joan Burton at launch of the Labour Party's 2011 General Election campaign. (Photo credit: Wikipedia)

By Evelyn Ring

The group wants to reverse the stopping of domiciliary care payments and is  seeking a meeting with Social Protection Minister Joan Burton to discuss the  issue.
The group claimed the entire application and review system for  the payment was flawed and needed to be overhauled.
The allowance is  paid to children with a disability who need more care and attention than  children of the same age without a condition.
Last year, 403 reviews  of the payment were undertaken. While 164 cases were considered eligible, 187  were not. A total of 53 reviews were pending at the year end.
One of  the protesters, Eileen O’Toole, from Greystones, Co Wicklow, has four children  with autism, ranging in age from 5 to 12.
Her oldest son Dillon sang  the Labi Siffre hit ‘Something Inside So Strong’ at the gates of Leinster House.
“Dillon represents all the children with autism whose voices cannot be  heard,” said Eileen, who added that the allowance paid to Dillon’s three  brothers was up for review in July.
The Carers’ Association area  manager from Carlow and Kilkenny, Pat Grogan, said the domiciliary  allowance  amounted to about €309 a month.
“Most of the parents I know are using  the money to pay for speech and language therapy and other therapies that should  be available to them through the HSE.
“I know that times are hard but  you should not be hitting vulnerable people.
“I think the minister  should take stock of what is happening here and take responsibility for the  allowances being withdrawn without any face to face evaluation,” he said.
While the minister had extended the time for returning review forms  from 21 to 60 days, anomalies still existed, he said.
Mr Grogan said  some parents were being reviewed for the payment after just one year.
Another protester, Lorraine Ryan from Bagenalstown, Co Carlow, said the  domiciliary care allowance for her six-year-old autistic son, Maurice, was cut  in January this year.
Ms Ryan, who has also lost the carers’ allowance, said the protest was to let the Government know  they were not going  to go away.
Read more: http://www.irishexaminer.com/ireland/parents-stage-dail-protest-over-care-payment-cuts-191668.html#ixzz1t37CCLPC

That’s not rain – that’s a lie

By David Mc Williams

There is a famous scene in the 1976 film, The Outlaw Josey Wales, starring Clint Eastwood as the eponymous hero. During a particularly brilliant exchange, the bounty hunter Fletcher, hot on the heels of Wales, comes out with an inspired put-down to the cowardly senator who is trying to pull the wool over his eyes.

Squinting into the sun, saloon door at his back, chewing tobacco, Fletcher disdainfully hisses: “Don’t piss down my back and tell me it’s raining.”

The expression, which is originally from South Carolina, beautifully captures the moment when someone who is being lied to turns the tables on the person who is lying to him.

When it comes to the fiscal compact, the EU is pissing down our backs and telling us that it is raining. And the fact that the government is also going with this line implies that it is party to this falsehood.

full article at source: http://www.davidmcwilliams.ie/2012/04/24/thats-not-rain-thats-a-lie?utm_source=Website+Subscribers&utm_campaign=f8362cb00b-24042012&utm_medium=email

The Pain in Spain

By John Mauldin

It really does seem to be All Spain All the Time, but there is a reason. Unlike Greece, Spain makes a difference to the eurozone. It may be both too big to allow to fail and too big to save. Last week I came across a very informative 50-page PowerPoint on the situation in Spain from Carmel Asset Management. It is too big to send, but I asked Jonathan Carmel to draft a smaller document with some of the key points. I find it compelling. You can access the entire PowerPoint on my website. If you are not registered with me, you will need to enter your email address and, if you would, your zip code or country. There is a lot if information and data in the report. It will certainly make you think.

I want to emphasize that I do not think Spain is hopeless. Rather, it has a narrow set of limited options that will require a great deal of austerity and economic pain on the part of Spain and significant help from the rest of Europe, combined with the forbearance and patience of the bond market or massive buying of Spanish bonds by the ECB for an extended period of time

full article at source:http://www.johnmauldin.com/outsidethebox/?utm_source=newsletter&utm_medium=email&utm_campaign=outsidethebox

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