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Archive for the ‘Minster Brian Lenihian’ Category

The Markets do not believe you Mr.Cowen

 

 

Bank of Ireland [IRE  3.61    -0.14  (-3.73%)   ]
: Stay away from IRE, Cramer said. He

likened it to
National Bank of Greece
[NBG  2.23    -0.03  (-1.33%)   ]
and
Allied Irish Bank
[AIB  2.17    -0.06  (-2.69%)   ]
and said all of them “bad banks” that need
to reconstitute their balance sheets, “which means potential dilution for shareholders.”

 


Latest news is that Cramer is not a fan of any of the Irish Banks.

Bank of Ireland (IRE) and the Allied Irish Banks (AIB)

According to Cramer the Irish banks are like the National Bank of Greece so much for turning corners

Allowing Gangsters run Banks is one thing but allowing Gangsters to run a country is just unforgivable

Cowen and Lenihan must go!

Billions for NAMA and sod the rest of us!

The right to work Campaign (3)

Protesters at Anglo Irish Bank

 


It appears the four people on ledger were arrested as well as two or three people who had been outside. All this took place in the space of ten minutes. Inspector Gannon who led the assault on Shell to Sea campaigners at Polthomas pier in Rossport was spotted among the Gardai and witnesses reported they had the clear impression that the Gardai were acting under orders that no further protests against the bank bailouts were to be tolerated.

Up to 100 Gardai are now around Anglo Irish bank with a second protest having being called by eirigi for 14.00 today. It has been confirmed that this protest will still be going ahead as will Tuesdays protest at the Dail.

We would call on people to join the anti-capitalist block at 19.00 at the Wolfe Tone statue on Tuesday (opposite Shelbourne Hotel) where we will discuss how to best respond to the attacks on bank bailout protests before proceeding to the Dail. 

Full report at source
http://www.wsm.ie/c/gardai-attack-eirigi-anglo-irish

Labour Youth against NAMA

Labour Youth demonstrate outside Angelo Irish Bank

Irish Banking:Is this as good as it gets?

Irish banks are getting deeper and deeper into a hole that they cannot clime out
I supose its a case of who will die first the ecomomy or the banks ?

Lenihan raising house prices

 

Extract from article in namawinelake  ( click on text)

On the Minister of Finance.

What business does he have telling us that prices are now realistic? What prices is he referring to? On what basis are prices realistic? To whom are they realistic? If prices are realistic does that, as the Independent aver, equate to prices being at the bottom? Maybe but let’s remember that the Minister must also on occasion don the leader’s hat and tell us to cheer up, it will get better and we will rebound and I know that we must believe that.

I wonder whether if the Minister donned the realist’s hat he would believe his own words at this point in time. If the Minister had just spent €54bn of the State’s money on gold, I wouldn’t expect him to say anything other than “buy gold today and get as much of the stuff as you can”. Time will tell.

 

Machholz comment

Spot on, this guy (The Irish Government) has at a stroke become the largest property owner (through his creation of the largest fraud in Irish history NAMA) in Europe if not the world.

I deal in the financial markets on a Daly bases and have done so for the last 15 years, buying stock and selling stock, hedging through options .It is common practice to see an action in the various markets called “pump and dump” this is done with 98% of the time of worthless stock

Large chunks are bought for pennies and the talked up, by analysts who get themselves on to such media channels Fox news, yahoo Finance and cbsmarketwatch and a whole host of other news outlets ,pumping the message that this is the time to buy this sh**

This of course is precisely what Lenihan is now trying to do, talk up the stock (Property) (mostly worthless stock)

The last time a Minster from this Government told people to buy property, (Berti Ahern) He said that if you were not getting into property now you were a fool, we all know what happened then!

I have over the years bought and sold property and always kept to a few rules when ,buying as there is only one rule when selling and that is sell at a profit.

 When buying

  • find out what rent you would get for the property

    Let’s say you will be getting 800 euro per month, and that rents are stable and not going down. This would then give an annual rent of 9,600:00 Euros

  • Multiply this figure by 10, this gives you 96,000.000:00Euros .This is the maximum you should pay for this building period!

    Why 10? , because this is the highest interest rates are likely to go. And with this system you will always get someone to rent and thus pay the mortgage.

  • Do not listen to the estate agent with regards to a price for the property; His or her interest is completely different to yours.
  • Ballpark value of average property is dependent on availability of credit from the banks

    And location .values can be arrived so

    The average working wage is currently 28,000:00 Euro and I believe falling because of the government’s income tax measures to pay off the huge bailout of the banks and their cronies in the Building industry.

    The stated policy of the Banks is to give only two and a half times salary and that is with conditions attached

    So 28,000:00 X 2.5 = 70,000:00 Walla, average price one should pay for a property in Ireland

    This formula works all over Europe (Germany, France etc)

  • So based on these figures we are nowhere near the bottom ,with 500,00 on the dole and approx 56,000 leaving the country, approx 23,000 young students leaving as well who do you think is going to buy all 300,000 empty properties around the country??


     

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