Dublin:Outside the GPO city center at 7.30 this Morning!
This is the real face of Ireland !
Dublin:Outside the GPO city center at 7.30 this Morning!
This is the real face of Ireland !
Yes after a general election the majority rejected another tax on water ( we allready pay for water in general taxaiation),motor tax(66% goes on to water tax) 2.5% of all vat goes on to water tax!We pay the highest vat rates in Europe and now: The rejected policies of the last goverement of privatetizing our nations water is still been forced through ! Listen to this twit!
We the people reject the concept of privatizing our water ! Water is a Human right !we already pay!
Another poor homeless victim of our corrupt system found dead on our streets this morning… I haven’t heard anything on the news or radio yet?
I personally experienced what these poor souls go through on a daily basis last Sunday night.. I stayed the night outside the GPO in Solidarity with some of our homeless & volunteers and while it was absolutely freezing to me realistically temperature wise it wasn’t that cold.
I arrived as i was… no food or drink no sleeping bag no extra clothing and while i did sleep for about 2hrs at different intervals i will never forget counting those minutes on Clearys clock until i could get up and go home..
A blanket and a foil sheet was donated to me but i was lying on the freezing cold concrete.. and although there was 40 or so of us there with 2 guys from “You are not alone” and a Garda on the other side watching over us all night, after the friends that I was with left I will never forget the fear that came over me.. “I was alone in the middle of Dublin city” and while this wasn’t the case as there was loads of people I knew there but to get the full experience I had to stay away from them and on my own, whilst still within the group. Out of nowhere about 4am a friend of mine arrived, I was never so relieved to see someone in all my life.
I watched the coming and goings of the volunteers all night back and forward to get clothes, sleeping bags, food etc I listened to some of their horrific conversations and I saw most importantly the selfless work these people do and the joy they get from it.
I Also watched passer-bys pass us by, some nearly falling out onto the road to get as far away from us as they possibly could. I also saw others who emptied their last bit of change or there last few fags and hand them over to homeless people there.. some stopped for a chat and more info others hung around and lifted the atmosphere with a few songs before going on their way. I witnessed Supermacs on O’Connell st refuse a homeless woman the use of their toilet who was left with no option but to go down a laneway.
By 6:15 it was time to go as the road sweepers come and no one can by lying down where they need to clean.
I guess the point im trying to make is i was sore from the hard ground, tensing myself, the cold, the nervousness, i was tired i was hungry i was freezing…. but i was going HOME to my family, my heat, my comfy bed. These poor people experience this night in night out day in day out, up at 6am for another nightmare of a long day not knowing whats ahead of them. NO HOME to go to.
Its set to get colder this week. Please please please if you can.. stop by a homeless person on the streets and give what u can even if it’s just your time to pass their LONG day. Or donate to one of the many volunteering groups out there.. let it be food, clothes, Money, sleeping bags your help etc and believe it or not its still cold enough out there for hats and scarfs at night. Contact your local Says No/community group page and they will give you the name of a local homeless group or a list of them.
Clearely not all of the children of our nation are treated equeally !
There is a joke going around the internet it how the European Union works (or doesn’t):
Pythagoras’s theorem – 24 words.
Lord’s Prayer – 66 words.
Archimedes’s Principle – 67 words.
10 Commandments – 179 words.
Gettysburg address – 286 words.
U.S. Declaration of Independence – 1,300 words.
U.S. Constitution with all 27 Amendments – 7,818 words.
EU regulations on the sale of cabbage – 26,911 words.
Why are EU Regulations so long? Maybe because they have to be translated into the 18 official languages? Interpreters also have to be found who can work into and from those languages at the European Parliament. The translation budget is massive. One of the official languages currently is Irish. It can confidently be said that there is no one in the Republic of Ireland who does not speak English; many Irish do not even speak or understand Irish, and certainly none of Ireland’s politicians will be fluent only in Irish. But all of the “acquis,” the body of regulations that are already part of the EU body of laws, also have to be translated into the languages of candidates for EU membership, such as Turkey, thus adding more languages to the tally each time a new regulation is passed. If Catalonia breaks away from Spain and remains a member of the EU, Catalan will need to be added, even though Catalan politicians all speak perfect Spanish.
This month, in March, an official audit reported that EU auditors refuse to sign off more than £100 billion ($144 billion) of EU spending. The Brussels accounts have not been given the all-clear for 19 years in a row. Moreover, the EU is apparently less than incompetent at managing the funds it has.
This is happening at a time when the EU is demanding that the UK pay it £1.7 billion ($2.45 billion). It was reported on September 17, 2015 in the Daily Mail newspaper that Britain had reluctantly paid this sum, which prime minister David Cameron himself, a fan of staying in Europe, has described as “appalling.”
full article at source: http://www.zerohedge.com/news/2016-04-25/brexit-what-else-wrong-european-union
On Friday we wrote our latest take on how the ECB’s CSPP, or corporate bond buying program, in which we explained how this ECB’s latest market manipulating adventure is about to crush the fundamentals of the European (and soon, courtesy of the ECB’s “SPV” loophole, global) bond market. We showed how the ECB, in its latest attempt to become an even more market-moving hedge fund, is set to buy billions in corporate bonds and not just European but also international, as long as they have a European-domiciled (read Ireland or Netherland) SPV holdco.
The big picture details were as follows:
BofA’s disturbing assessment of the ECB program for broader markets was surprisingly gloomy:
Firstly, the credit market could (worryingly) become much less sensitive to fundamentals such as commodity prices. For instance, if commodity prices fall, debt spreads of Glencore could still tighten if the ECB remains an active buyer of their bonds.
Secondly, there is clear motivation for non Euro-Area companies to issue Euro debt via a Euro-Area incorporated SPV. Our understanding is that the process (and time needed) to set up such a vehicle is not too cumbersome.
If this is the way that the credit market in Euros develops, then the ECB could potentially be “corporate QE’ing the world”. All credit markets stand to benefit in such a scenario as the trickle-down effect looks significant to us.
Yet, investors will need to keep an even closer eye on the likelihood that credit spreads disconnect from fundamentals. For instance, if the ECB buys UK credits then this will exacerbate the lack of Brexit premium in the £ credit market.
And while we speculated how long until we get a US shale company “incorporating” an SPV in Europe to take advantage of the ECB’s backstop generosity, we didn’t have long to wait until we found the first aberration of how Mario Draghi is making a mockery of price discovery.
As Dow Jones writes, moments ago Unilever NV was set to raise money in bond markets Monday that will cost the consumer-goods giant almost nothing, in the latest sign of how the European Central Bank’s stimulus measures are slashing funding costs across the continent
In one tranche of a €1.5 billion deal, the Anglo-Dutch company was set to sell €300 million of debt maturing in 2020 with a coupon of 0%, potentially offering investors a yield of just 0.06%, according to deal guidance released Monday by underwriting banks.
The Unilever bonds will be one of the lowest-yielding euro debt sales on record, and one of the first since the ECB released details on Thursday of its plans to start buying corporate bonds in June.
As predicted in early March, borrowing costs for major European corporations have dropped sharply since the ECB said in March it planned to start buying nonbank euro-denominated corporate debt later this year. This is understandable: after all with a central bank backstopping bond risk, there is no risk in buying these bonds. In fact, we expect the Unilever tranche to promptly break to the upside after the break for trading, pushing its yield negative, a historic first for a corporate bond.
Dow Jones writes that banks handling the Unilever deal have received orders of around EUR4 billion from investors for the debt sale, which also included eight-year and 12-year bonds, according to the deal notice. The eight-year bonds are expected to offer a yield of around 0.66%, while the 12-year bonds are expected to offer a yield of around 1.18%, according to a person familiar with the deal. Both these bonds will have positive coupons.
The bonds will price later Monday. Citigroup Inc., Deutsche Bank AG, HSBC PLC and Banco Santander SA are underwriting the deal.
And thanks to the ECB, we fully expect all of these Unilever tranches to promptly sport a negative yield after they break for trading in what is now a euphoric corporate bond market which like Europe’s Treasury market, will no longer be driven by fundamentals and entirely by central bank frontrunning.
By Thomás Aengus O Cléirigh
So giving social welfare to some of the world’s largest corporations is better than giving ordinary citizens a Basic Income????? We cannot afford to continue to give to the rich and take from the poor! This must stop! The Irish people were forced to bail out private Banks and the country was forced into Debt of 215 Billion Euros and Irish taxpayers are paying close to 10 billion euros a year interest on this Odious Debt ( that is approx. 4.5% a year currently) now are we been forced to pay this interests when corporations are getting FREE MONEY ????
The ECB and the FED have given the Bankers over 24 trillion in free money over the last 7 years: The Irish Nation has given the Irish Banks and others at least 200 Billion and guaranteed hundreds of billions of Debts from these toxic corrupt bankers ! The poor on social welfare have seen their dole payments cut in stealth taxes which amounts to approx. 24% reduction over the same period: Question who is the biggest spongers on social welfare in Ireland today??? Everybody employed by the financial institutions that were bailed out! Yes your friendly bank manager you know the lads who are throwing people out of their homes. So when you go into the local Bank like the AIB in Wicklow town you will notice they have spent a lot of money sprucing up the Gaf well I did not get a “Thank you “ for the dig out from the staff today! I don’t suppose
Given the fact that a snowball has a better chance in hell than the American public ever seeing a transcript of Hillary Clinton’s various million-dollar speeches to Goldman Sachs employees, K.J. Noh, Counterpunch’s resident satirist in chief, unleashes his best guess at what was said.. and if not, what was implied… Liberty Blitzkrieg’s Mike Krieger excerpts the true meaning of Clinton:
CLINTON: Thank you. Thank you so much. Thank you very much, Lloyd [Blankfein], and thanks to everyone at Goldman Sachs for welcoming me today. I’m delighted to be back among friends, colleagues, collaborators, supporters, kindred spirits…
Let me jump right in. You know, over the past few months, there have been popular concerns about an economy that still isn’t delivering for the majority of Americans. It’s not “delivering” the way that they feel it should, that they feel entitled to. Most Americans that you speak to, speak a populist rhetoric that claims it is stacked for those at the top, that those of you here have it too good.
But we know the hopes that the little people have for their future — things like school, job, food, clothing on their backs– all of those little things would not be possible without your leadership and innovation. Since the time of the Medicis, even before, and the financing of the first joint stock companies in the transatlantic slave trade, we know that finance and banking is what makes our capitalist economy not just grow but tick…
Previous generations of Americans built this economy and a middle class on a collective illusion: that they do productive work, this creates wealth, and that this builds the economy. We all know how misguided that is. We know that it’s really due to your investing, credit, and economic stewardship, that they have been able to work at all, that they are able to put food on their tables. It’s due to you and other banking, trading, investment houses that we have an economy that works at all. You are why we are a truly 21st century economic power.
For decades, people have argued that if we give more wealth to those at top by cutting taxes and letting you and other corporations write the own rules, it will trickle down, it will trickle down to everyone else. And it has! My speech here is an example!
(Cackles, Waves Check)
Some will say that you are simply parasitic on those who labor at menial physical production—these are people who still subscribe to 18 Century notions of value production–and that you skim off profit without doing anything meaningful or of value. Those people are misguided: we know that if money never sleeps, that’s because you keep it awake! You have—if I may use a metaphor–injected money with caffeine, Adderal, crack, meth, with LSD so that it can dance the crazy dance and grow a crazy thousand psychedelic feet tall in a rainbow minute! Money was a lazy b*tch, until you put it to work! And look how it works! Look how it grows! Materializes out of nowhere!
(Waves check again, dances, cackles).
Some people have said that it was your irresponsible financial engineering, risk-taking, and profit-seeking, that led to the 2008 crash; that you shorted your own toxic mortgages in the most brazen securities fraud in financial history, dynamiting and imploding the global economy; and that the exorbitant bonuses paid from tax payer money, the financial bailouts, the non-prosecutions created moral hazard, rewarded avarice, incompetence, corruption and vice. You and I know it is nothing of the sort. As leaders, innovators, captains of finance, you will always be subject of the jealous resentment, the petty tantrums of the unwashed masses, the insolvent, the irresponsible, the invidious, the losers. They will envy you, your successes, they will despise you, but they secretly want to be like you!
As you know, my husband tried very hard to change the culture of this misbegotten underclass, by kicking them off the government teat, by poisoning their milk with harsh, bitter regulation, and by disciplining them with the most arbitrary, racist, punitive, devastating criminal laws in US history, laws which Richard Nixon, the Southern strategists, the slave catchers, could only have dreamed of. He also passed NAFTA, which told them in no uncertain terms that they needed to discipline themselves as workers, and learn to be competitive in the global sweatshop, or face certain extinction. But they have not learned their lesson.
The effects prove themself. Under President Clinton — I like the sound of that!— America saw the longest, most prodigious reaming of the undesirable classes in our history, putting them firmly in their places. And they loved it! He felt their pain! And relished it! Because he was inflicting it!
And I will too!
Books like “The Spirit Level” and organizations working for equality, certain politicians, spew a ridiculous myth of populism and the benefits of equality. But the fact is, we can’t create profitable businesses without exploitation, and we can’t grow the economy without speculation and inequality, and we certainly can’t boost our economy into the stratosphere without allowing you to exercise your amazing financial intelligence and acumen in fiscal number-crunching, speculation, numbers-running and fraud!
Let’s tell the truth: America is struggling—despite the endless fabrication about “the recovery”– because we are not yet running the way we should. Banks are still over regulated. It’s over-regulation that creates financial catastrophe! Despite your huge paychecks and squirreled away assets, I know that you are worried: worried that some “socialist” demagogue might come along and confiscate it all and put you all in jail. With president Obama, you were in good hands: he’s one of us. (Good thing you ponied up $981K for his campaign). He took good care of you, had your back, covered your financial rear. But populist sentiment is rising up again, more strongly than before, and the unwashed masses are full of resentment, anger, jealousy. They are angry that they don’t have jobs, that they are in debt, that they can’t scrape a living together, even though they are working, 2,3,4 jobs to put shelter over their heads. That their children are starving. That they cannot see a light at the end of the tunnel. They are angry about the 100 million people driven into the brink of starvation and the global food riots that they claim you caused with your commodity futures speculation. The $5 Trillion of value lost from the markets that they claim you collapsed. The millions who lost their homes and are now on the verge of homelessness. The trillions funneled to you in loans, write-offs, bribes to keep the system going. Even when I was working for Barry (Goldwater), I felt that same irrational resentment. Now it’s at an all time high. Irresponsible single mothers, uneducated immigrants, lead-drinking ghetto-strutters, homeless, crying, babies, starving senior citizens, obnoxious, entitled African Americans who object to having bullets pumped into their bodies by police: all these people are angry, entitled, and making noise, and they are endangering our democracy and economy, our greatness.
I hear this everywhere I go. A single mother, with three children—wants to go to college, find enjoyable, well-paid work and also enjoy the emotional luxuries of motherhood—all at the same time. Everyone feels entitled to everything. She even wants housing. Now even I couldn’t do all these things, despite my incredible privilege and intelligence. But they want it all, now. Three children?
A grandmother, playing with children—it makes her happy like a cow, but she still feels entitled to be paid. Because she wants to feed her drug habit, she wants to sell them for more money….she wants it all!
A student, with an unmarketable degree in women’s studies, specializing in medieval feminist villanelles, wants debt forgiveness, and a high-paid job putting her non-existent skills analyzing romance language texts to use and profit in a rewarding cause. She also wants a pony, a sensitive but dominant lover, a villa on the Riviera, and World Peace!
Millions of working sad-sack Americans have similar fantasies. They want more money. More pay. Decent wages for hard work. They think it grows on trees. They think that money will grow and nuzzle up to them in their sleep, when they have no money-appeal. They think they can tax Other People’s Money to get what they want. They don’t realize Money has to be jacked up the ass, stuck in the veins with meth, dragged out and pimped to make more! You have figured out how to make your money work, turned it into a profit-generating prostitute! The future expected earnings of a profit-generating prostitute! That you’ve shorted! These people, idiots, all of them, they expect money to come to them! Without Scheming! Without reaming others! By working hard and being good! Like puppies and ponies! Like flowers after a downpour! Like the lilies of the valley! Like utopian visions of a drug-addled socialist!
Because what’s best for Wall Street is what’s best for the US. What’s best for Goldman Sachs is what’s best for the planet. I promise to take on this challenge against the clamoring, whining, agitating babies demanding for major changes in our economy and the global economy, demanding for equity and justice. These demands are stupid beyond belief.
As president, I will work with you to turn the tide of populism, to make these currents of change infeasible, impossible. We don’t hide from change; we subvert, hijack it, appropriate it.
Let me tell you straight: I want to be the presidency of, by, for Goldman Sachs, and I mean it. I’ll make sure to line my cabinet with your people, like everyone else. Lloyd, name your position!
And I know it’s not always how we think about this, but another engine of strong growth should be the TPP and the TTIP, and the TISA.
I want you to hear this. Creating a global neo-liberal enclosure of the entire world economy that pretends to be about “free trade” won’t do much for the total economy—perhaps a tiny percentage point of growth—but I guarantee it will line your pockets like nothing else. Think trillions in your coffers. Quadrillions, once we force all the Asian-Pacific economies to suspend their financial uptightness restricting wild casino gambling! Financial liberalization forced on Asia will result in Quadrillions! Bazillions! And remember, the house—that’s us—we write the rules—never loses!
You know, all this speculation adds up. And for you, it’s trillions every day. Now I am well aware that for far too long these practices have been challenged by socialistic demagogues.
Well, those days are over.
The current President Obama gave you and your colleagues 17 Trillion of free money, and endless zero-rate loans, but he still had to pretend to take you and your colleagues to the woodshed. Dodd-Frank. Sarbanes-Oxley. The return of Glass-Steagall. Other annoying, pesky legislation and regulations. Too many of you are bound and wrapped in red tape: shadow banking, money laundering, hedge funds, high-frequency trading, non- bank financing, interest rate manipulation, all done in the shadows, because of vicious, irrational regulations that marginalize and oppress you.
I will appoint you to every regulatory position of power! Too big to fail is too big not to give control over the entire government!
That’s what I’ll do as president. I will seek out and welcome any good idea that is accompanied by a large check!
Brushes check suggestively against cheek)
Thank you all. Thank you. I just want to leave you with one more thought. I want every banker, financier, trader, hedge fund manager to reach their God-given potential to rule the universe. Please join me in that mission — let’s do it together!
Is there anything he left out?