Bye bye Troika, what has been learned?

MadsL

So, the Troika no longer manage Ireland's financial affairs.

Will Ireland have learnt from the past mistakes, grow and prosper, or will the same mistakes be made once more?

I'm not confident given the lack of people arrested so far that Ireland's financial regulators have a grip on the industry.

Is the future bright?

Specialun

Did they fix the potholes

Gmol

Never vote Fianna Fail.

Atlantic Dawn

They havn't done enough, still huge areas of the economy need reforms.

For Forks Sake

Dey terk er jerbs.

Augmerson

We have gutless, clueless politicians and a golden circle that cannot be touched, indeed an entire country will be ****ed over to protect the golden circle.

Mint Aero

I hear property will be a good investment?

Augmerson

Mint Aero wrote: »

I hear property will be a good investment?

Does anyone remember that article Brendan O'Connor did in the Indo about now is the time to buy property in 2007/2008? Jesus christ.

For Forks Sake

Augmerson wrote: »

Does anyone remember that article Brendan O'Connor did in the Indo about now is the time to buy property in 2007/2008? Jesus christ.

Fill yer boots. 29-July-2007, what a monumental c*nt.

The smart, ballsy guys are buying up property right now

The Big Smoke

Mint Aero wrote: »

I hear property will be a good investment?

Only in Dublin, if I had the money I'd buy a few 2 bed apartments. Serious demand out there and you'd make a good profit. Then in a year you can sell them off for another profit.

mikom

MadsL wrote: »

So, the Troika no longer manage Ireland's financial affairs.

Will Ireland have learnt from the past mistakes, grow and prosper, or will the same mistakes be made once more?

I'm not confident given the lack of people arrested so far that Ireland's financial regulators have a grip on the industry.

Is the future bright?

The futures so bright I'm wearing a night vision headset.

Fr_Dougal

MadsL wrote: »

So, the Troika no longer manage Ireland's financial affairs.

Will Ireland have learnt from the past mistakes, grow and prosper, or will the same mistakes be made once more?

I'm not confident given the lack of people arrested so far that Ireland's financial regulators have a grip on the industry.

Is the future bright?

Why do you want to know?

suicide_circus

The Big Smoke wrote: »

Only in Dublin, if I had the money I'd buy a few 2 bed apartments. Serious demand out there and you'd make a good profit. Then in a year you can sell them off for another profit.

what could possibly go wrong?

if I had the money I would buy a two bed in Dublin and then....wait for it......LIVE IN IT.

But I won't be able to afford such a luxury with financial wizz kids such as yourself flipping property like beer mats to beat the band. Two hour commute and never see my family, here I come!

The Big Smoke

suicide_circus wrote: »

what could possibly go wrong?

if I had the money I would buy a two bed in Dublin and then....wait for it......LIVE IN IT.

But I won't be able to afford such a luxury with financial wizz kids such as yourself flipping property like beer mats to beat the band. Two hour commute and never see my family, here I come!

*plays tiny violin*.

Cookie_Monster

We've learnt that we can enjoy the good times and then take pathetic half measures to fix it in the bad while not really changing anything important so we can repeat the cycle all over again in ten years or so.

Pat Mustard

What has not been learned:

1. Fianna Fáil screwed us all. They can never be trusted to go back into government again.

2. We need politicians to be made accountable. If ministers commit acts of gross negligence or dereliction of duty, they should face jail.

3. We need a viable prospect of jail for people who swindle money from the government and for company directors whose financial irregularities threaten the entire economy.

4. We cannot allow a repeat of the following.
'We need moolah'.

"Get into the f***ing simple speak: 'We need the moolah, you have it, so you're going to give it to us and when would that be?' We'll start there."

Link

Drumm's colleague John Bowe was recorded saying he picked the figure of €7bn (£6bn) "out of my arse" when authorities asked him how much would be needed to rescue the bank.

Nothing has been done to stop any of the above from happening again.

dxhound2005

MadsL wrote: »

So, the Troika no longer manage Ireland's financial affairs.

Will Ireland have learnt from the past mistakes, grow and prosper, or will the same mistakes be made once more?

I'm not confident given the lack of people arrested so far that Ireland's financial regulators have a grip on the industry.

Is the future bright?

There will be another boom followed by another bust then another boom and so on. It is what has always happened. There have been 47 recessions/depressions in the United States, as an example of what happens in a capitalist economy.

You, I believe, would be familiar with Arizona and aware of the housing bubbles there. They sounds very similar to our own. How many have been arrested there for lending money to people to whom they shouldn't have? Who do you want arrested here?

http://www.phoenixrealestateguy.com/watch-out-here-comes-the-second-phoenix-housing-bubble/

So let’s look at some of the differences between what is going on now and what happened in 2005-06 time period.

First, in 2004-2006 the lending standards loosened to an unreasonable level. This caused an artificial demand of home buyers looking to buy a house. People who should have never come close to qualifying for a loan were doing so.

xXxkorixXx

what happened to the free cheese

dxhound2005

xXxkorixXx wrote: »

what happened to the free cheese

They rounded it up and it's back inside.

SpaceTime

Gmol wrote: »

Never vote Fianna Fail.

Sadly, that hasn't been learned either.

Basically what's been learned : nothing!

Rinse and repeat seems to be the approach we're taking.

There's still a distinct possibility that the health budget will go completely off the rails and derail the exit though.

A huge opportunity for serious reform was missed.
Stuff like attempting to abolish the Seanad wasn't reform. Implementing transparent, open budgeting processes, rolling out accountability measures for all aspects of the Government and the civil and public service would have been essential etc etc.

What's been done??

A load of spending cuts without serious structural reform to back them up.

Fox_In_Socks

dxhound2005 wrote: »

They rounded it up and it's back inside.

Back inside the cows?

Bastards!

Merrion

You cannot control an economy if you do not control the mint.
(or the M1 in these days of electronic money)

suicide_circus

The Big Smoke wrote: »

*plays tiny violin*.

fair enough, Rockefeller , remember to save some of your cash for decking and a jet ski

NuckingFacker

I've learnt that even if you fcuk it up massivly, hugely, you'll still saunter off with a shrug, if you are a Politician - and get a chunky great pension to ease any guilt pangs you may or may not be feeling. The same also seems to be the case for Bankers. I've also noted that the average worker hasn't faced a bleaker working environment in a very long time.

fcuk the troika, that's just semantics.

Mint Aero

Bubbles gonna burst in IT within a few year I reckon. Even advised my nephew to steer clear when choosing CAO next year. Gold mining is where it's at I said.

The Big Smoke

suicide_circus wrote: »

fair enough, Rockefeller , remember to save some of your cash for decking and a jet ski

I said "if" I had the money. Read the post before going on your little rant joe.

SpaceTime

As usual there's a bubble with a real industry underlying it in IT.
The problem is that the majority of speculators won't be able to tell the real industry from the bubble. It's not remotely as bad as the property bubble though.

I think though that due to the speed of trading and the ease of access to markets by people who don't have a clue what they're doing really, we're just going to be going from one bubble to the next for the foreseeable future.

The money's to be made out of being able to recognise a bubble! So, maybe (and this is a BIG maybe) Irish people have had their fingers burnt badly enough to be able to recognise a massive, huge, f*** off bubble coming and may be able to steer around it in future!

zenno

The Troika had a good laugh while they were leaving i'm sure.

Fox_In_Socks

Mint Aero wrote: »

Bubbles gonna burst in IT within a few year I reckon. Even advised my nephew to steer clear when choosing CAO next year. Gold mining is where it's at I said.

Gold mining, bad choice.

Opera Hat manufacture is where he future lies

MadsL

dxhound2005 wrote: »

How many have been arrested there for lending money to people to whom they shouldn't have?

http://www.irs.gov/uac/Examples-of-Mortgage-and-Real-Estate-Fraud-Investigations-Fiscal-Year-2013
http://en.wikipedia.org/wiki/Bernard_Madoff
http://en.wikipedia.org/wiki/Claudio_Osorio
http://money.cnn.com/2013/08/27/news/companies/jpmorgan-whale-arrest/
http://www.foxbusiness.com/markets/2013/10/21/fugitive-ex-ubs-banker-arrested-in-us-tax-probe/
http://www.huffingtonpost.com/2013/08/27/darryl-layne-woods_n_3825580.html

Need more?

Who do you want arrested here?

Who have you investigated and cleared of wrongdoing? Have the Anglo files been decrypted yet? Has a full and open Gardai investigation be completed?

The Big Smoke

MadsL wrote: »

Who have you investigated and cleared of wrongdoing? Have the Anglo files been decrypted yet? Has a full and open Gardai investigation be completed?

Pearse Doherty handed in tapes to do with Anglo Executives to the filth recently. Whether anything will be done remains to be seen.