By Thomás O Cléirigh
As I write this I am hearing on the Irish radio that the finance minster is in Talks to formalise the “Cyprus Bank bail in” system for a European wide execution .If you are an Irish depositor get your money out now as these crooks will be taking a hefty slice of you hard earned money to contribute to the next phase of the Irish Bank bailout madness!
The public are been kept in the dark as to the real ramifications of this so called new fiscal measures, now been formalized to secure the European banking system from total collapse. Make no mistake we the citizens are been set up once again for a massive fall and we will have to foot the bill that is sure to come by the autumn. Allied Irish Bank is Bankrupt and the only way for this toxic corrupt zombie bank to survive will be the wholesale robbery of its customers A LA Cyprus! I just checked again on the RTE website to hear once again the news podcast but the item is no longer to be found!
The public are been kept in the dark!
See also: http://thepressnet.com/2013/05/13/if-i-provide-proof-that-the-entire-irish-banking-system-is-a-sham/
By David Mc Williams
So we have arrived at the day when the State has to deal with the consequences of the housing binge on the balance sheet of the ordinary person. A few years ago, people who warned this day would come were dismissed as doom-mongers. Now we see what was clear all along: the real merchants of doom were those who harassed a generation of people into debt, condemning them to negative equity and unpayable mortgages. This problem has to be fixed because the economy, burdened with such huge levels of debt, cannot grow.
It’s a simple equation. If people are paying back debt, they are not spending on other things. The economy runs on the basis that, in the aggregate, my spending is your income and your spending is my income.
Therefore, if people are not spending because they are paying back debt, everyone’s income eventually falls…………………………………………
full article at source: http://www.davidmcwilliams.ie/2013/03/14/arrears-and-the-paradox-of-aggregation
By Sam Collins
One of the remarkable technical events of the past 12 months is the breakout and blast-off of the Dow Jones Transportation Average. On Tuesday, the index set a new all-time high after breaking from a 10-month consolidation in early December.
RSI is somewhat overbought, and Tuesday’s spike to new highs could lead to some profit-taking. But the momentum of this remarkable performance is usually predictive of a better-performing economy, and thus, a pullback in this or any index should be viewed as a buying opportunity.
Conclusion: Despite the lack of volume, stocks appear headed to new highs, boosted by better-than-expected retail sales and the anticipation of a better economic climate. Even the breakdown of the most influential technology stock of the decade (Apple), the fiscal cliff, and the threat of a U.S. bond default have failed to stop the advance………….
full article at source: http://investorplace.com/2013/01/daily-stock-market-news-market-forging-higher-not-yet-warning-of-a-top/?sid=KE8137&cp=OZDT&ct=201301116&cc=eletter&en=4524897
In view of what is happening in the Ireland of today. As our Independence has been sold off to faceless German bondholders, I was thinking what could individuals could do, particularly businesses owners ( shop owners) and the thought occurred to me ,why don’t we ask all our shops to display their business names in Irish. With this is mind I took a stroll down the town to see how many of our shop fronts actually had their name in Irish and the sad fact it just one.
Yep that is correct just one business has gone to the bother to put its name in Irish! I call upon all the followers of this blog in Wicklow town to ask the various shops in the town to consider in putting their names in Irish .Lets have something different and something to show the tourists when they come visiting .lets reminded them they are in a Proud Irish town. This action could be done in every Irish town!
What do you think this small step would do for our Irish language?
As a thank you to this business owner I intend to pay a visit and spend some money there! If you are in Wicklow Town do call in to this business and spend a few bob as a thank you for his support of the Irish language .
Thomás O Cléirigh
By John Mauldin
Sarkozy: “Problem Solved”, Or… Germany to Sarkozy: “It’s Not Over”
Greece is having an “orderly” default. The taxpayers of Europe are in theory going to lend €130 billion to Greece to pay back €100 billion in Greek debt that is owed to private lenders. Greece has to pass several difficult tests in order to get the money. €100 billion of debt to private lenders will be written off. Thus the net effect will be that they owe €30 billion more. How does this help Greece, except that they get €30 billion more they cannot pay?
The”new” debt is already trading in the market, even though it has not actually been issued. (Don’t bother traders with messy details, just do the deal.) This page from Bloomberg is just too delicious not to print, sent to me courtesy of Dan Greenhouse of BTIG. It shows the new Greek bonds trading at over a 71-79%discount, depending on the length of maturity.
Note this is AFTER the 53% haircut already imposed. That reads to me like the market value of original Greek debt is now between 12 and 14% of the original face value. Didn’t I write in this letter early last year that Greek debt would ultimately get a 90% haircut? Let me suggest to my critics that what was pessimistic back then may prove to have been optimistic at the end of the day.
Full article at source:http://www.johnmauldin.com/frontlinethoughts/?utm_source=newsletter&utm_medium=email&utm_campaign=frontline
Irish bank lending to consumers and businesses fell again in January; Domestic private sector bank deposits also down
By Finfacts Team
The Central Bank said today that level of Irish bank lending to consumers and businesses fell again in January and Irish resident private sector bank deposits also dropped 7% on an annual basis.
Loans to households continued to decline during January 2012, and were 3.9% lower on a year-to-year basis, following a decline of 3.8% for the year ending December 2011. Lending for house purchase was 2.4% lower on an annual basis in January 2012, while lending for consumption and other purposes declined by 8.2% over the same period.
Lending to households declined by €690m during the month of January, based on underlying transactions, following a net monthly flow of minus €65m in December
full article at source: http://www.finfacts.ie/irishfinancenews/article_1024011.shtml
By Kevin Marder
For months, the $64,000 question mark has surrounded the
institutional participant, and whether he/she would decide to sponsor this
market with any sort of conviction. Last Thursday’s participation by the large
investor, then, was a sight for this column’s sore eyes.
As the below chart indicates, Thursday witnessed the Nasdaq gapping up at the open en route to a 3.3% gain, closing fairly well, and on volume 37% above average. This latter statistic is the most important of all, and would have been even if the day’s move was half of what it was.
full article at source:http://www.marketwatch.com/story/conviction-returns-and-so-do-eu-worries-2011-11-01?link=kiosk
By Keven M O Brien
In an article I wrote for Seeking Alpha last month, I discussed how Bank of America (BAC) stock could either completely tank relatively quickly – or be an excellent buy if you are willing to take on some of the additional risk associated with owning it. When BAC was hovering near $5.00/share, I was very concerned that anything much below that level would really cause the short sellers to swarm it like vultures and completely sink
it.Bank of America released third quarter earnings this past Monday and
surprisingly turned in a profit, compared to the third quarter of 2010 when it
had a $7.3 billion dollar loss. See here for more on these results. The third quarter results did reveal that Bank of America is now behind JP Morgan Chase (JPM) as America’s biggest bank.
full article here: http://seekingalpha.com/article/301409-bofa-weathered-a-storm-but-risk-still-persists.
As a trader of BAC stock I thought this might intrest some of you!
By Eric Parnell
The resilience of stocks has been amazing these last several weeks. On four
separate occasions since the beginning of August, stocks have made a run at
breaking below 1120 on the S&P 500. And each time stocks find the resolve to
bounce sharply higher. But time and hope may be running out for investment
markets. And if real actions are not carried out soon, stocks may find
themselves increasingly hard pressed to hold their ground. And the effects of
quarter end window dressing promises to only add to the uncertainty.
Photo by Machholz
By Finfacts Team
Irish Life & Permanent today reported a pre-tax loss of €349m for the first half of this year (H1 2011), mainly related to loan losses at its Permanent TSB banking businessIL&P is under State control after it was provided with capital after the March bank stress results.
Irish Life, the life business, is to be sold.Speaking today, Kevin Murphy, group chief executive, said; “there were a number of positives in the performances
of both the bank and the life company during the period including higher sales
in the life business and a higher net interest margin in the bank. However both
businesses were impacted by the continuing difficulties in the broader economy
including rising unemployment levels, reduced disposable income and weak
Murphy said IL&P was making good progress on the
planned sale of Irish Life. He said; “we are progressing discussions with a number of interested parties and we are encouraged by the process so far.”The bank recorded a
pre-tax operating profit for the period of €376m (2010 – loss of €131m).
However the key factor in this result was the gain of €763m as a result of the
State’s recapitalsisation. Excluding that gain, and the net loss of €23m on the
bank’s own Tier 2 debt holdings, the bank recorded an operating loss of €364m in
the first six months of the year.
Full article at source:http://www.finfacts.ie/irishfinancenews/article_1023024.shtml
These figures would be a lot worse if it were not for the fact that the gangsters running this bank are in fact exploiting their own customers (I am one of them) I along with approximately 80,000 other customers are in fact now forced to pay sub-prime interest rates on our outstanding mortgages (currently 5.60 % )While the ECB rate is just 1.5%.The government
is allowing this den of thieves and the rest of the Toxic Banks to exploit their own customers in this way so as to give the impression these toxic banks are sound but we all know that they are all bankrupt. According to the European Union I should be able to get a mortgage from any bank in Europe but in reality we are at the mercy of these home grown crooks and their gutless political masters.I call again on all 80,000 customers of this corrupt financial institution to boycott this bank for any other services and withdraw any extra savings. Best of all stop paying our mortgages en-mass all over the country, they can’t throw us all out of our homes or put us all in jail!
see also :http://thepressnet.com/2010/01/28/irish-life-mortgage%E2%80%99s/