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David McWilliams Podcast

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Comments

  • Registered Users Posts: 2,727 ✭✭✭yankinlk


    Does DMW speed-up his podcast by default? SOmetimes it seems like he as zero pauses - very unnatural sounding. A cheat to pack in as much content as possible?

    sorry if this has been asked and answered before i tried google first and failed



  • Registered Users Posts: 28,609 ✭✭✭✭Wanderer78


    not that im aware, but they probably are trying to pack in as much as possible, particularly the fact, things globally are moving very fast....

    as far as i can see, the book festival recordings are in real time, at least i think they are, as i was there myself



  • Registered Users Posts: 2,727 ✭✭✭yankinlk


    Ok thanks. It was the fintan otoole one that I was listening to...and as thinking i would need an audience member to confirm.

    Guess they just talk fast, fair enough!



  • Registered Users Posts: 28,609 ✭✭✭✭Wanderer78


    if you re not irish, it can be very difficult to keep up with the speed of irish conversations, its common enough



  • Registered Users Posts: 2,727 ✭✭✭yankinlk


    Lol. I'm am but thanks. My username requires a long pint



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  • Registered Users Posts: 28,609 ✭✭✭✭Wanderer78


    hahaha fair enough, no harm in slowing down those talks, theres a lot of info shared in them, very hare to absorb them fully, im gonna re-listen to all the talks i was at over the weekend



  • Registered Users Posts: 1,781 ✭✭✭gypsy79


    We should start a David McWilliams bingo

    Using 1980s slang for things is his schtick.

    Look at the ned on ya. He comes across as a right buffoon most of the time



  • Registered Users Posts: 28,609 ✭✭✭✭Wanderer78


    ...hes actually extremely intelligent, has an exceptional understanding of whats going on, and how to potentially resolve our most critical issues, hes also highly respected amongst his peers....



  • Registered Users Posts: 2,831 ✭✭✭Sweet.Science


    Or does his thick dublin accent when recalling a conversation he had with one of those working class folk .



  • Registered Users Posts: 1,781 ✭✭✭gypsy79


    You mean the people he pays to do gigs for him?

    Flogging his college lecture notes. Its cringe

    His versions of economic theories could drive buses through. Do you remember him saying that print money while it is free and inflation will never happen

    Or get sell government bonds to invest in stock market to feed the poor?



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  • Registered Users Posts: 575 ✭✭✭sportsfan90


    I don’t mind the podcast, I just wish he’d go an episode without some reference to Joyce or Ulysses!



  • Registered Users Posts: 28,609 ✭✭✭✭Wanderer78


    pays who to do what gigs, wtf are you talking about?

    oh ffs! again, hes right, the only way out of our current situation is in fact creating more new money, but to not do what we have been doing with newly created money, i.e. not using it to (re)inflate pre existing asset prices, but to use it to create new assets, and to use already known methods such as sovereign wealth funds, to try make sure that the new wealth created by such, is better distributed!

    ...once again! our current inflationary pressures have virtually nothing to do with our money supplies, but are more related to supply and energy shocks, all businesses are currently experiencing a rapid rise in their energy costs, some as much as 4-5 times normal rates, theres your inflation!

    again, yes, government bonds could be used to help create these new assets, and then by using sovereign wealth funds, this would in turn help us to provide ourselves with our needs....



  • Registered Users Posts: 1,781 ✭✭✭gypsy79


    Please state your credentials to make the ridiculous statements like above

    Print more money and put it on Man U to win the EPL.....great idea



  • Registered Users Posts: 1,781 ✭✭✭gypsy79


    All his guests get paid gigs from him. Whether it be the podcast that he pays them for or one of his cult like "festivals" which are the worlds largest echo chambers



  • Registered Users Posts: 28,609 ✭✭✭✭Wanderer78


    ...where does one start! many respected commentators have been talking about this, for years now, including many respected media outlets, including irish ones!

    again, what are you talking about, man u and epl, seriously, where are you going with this! its clearly obvious whats been going on, this can be clearly seen in data, and its associate analysis!

    yes, most contributors do indeed receive payment, as this is how they make a living!

    again, yes, it is common for humans to congregate over similar interests, such as attending football games etc!



  • Registered Users Posts: 1,781 ✭✭✭gypsy79


    Hahaha

    There is no talking to you!

    I listen this as a comedy to see what this joker is teaching the plebs

    You were probably infatuated by Davies takeaways from Spain....reading facts off google

    Some of the worst segways ever in this show. It is comically bad



  • Registered Users Posts: 1,781 ✭✭✭gypsy79


    Very recently McWilliams said that our government should borrow and put it in the stock market (thats were the gambling comes from)



  • Registered Users Posts: 28,609 ✭✭✭✭Wanderer78


    why are you listening, seriously? why would a person do so, lifes truly too short spending your time on things you have no interest in!

    what? do you actually listen to what hes says at all?? he regularly says, along with many other respected sources, that the government should borrow to help provide us with our most critical of needs, i.e. property, major infrastructure, including energy infrastructure etc etc, and also to utilise the use of sovereign wealth funds, in order to share the wealth created from such investments. he, along with others, believe that a proportion of corporate tax revenue should be accepted as stocks and shares, and these holdings also held in such wealth funds. stocks markets are well known to give good returns over a long period, yes its a gamble, but all investments are, a significant amount of wealth is simply extracted from such investments, but is not very well shared amongst the general population, but by using such investment funds, this could be rectified.... many respected sources have confirmed that this would work very well in doing so....



  • Registered Users Posts: 1,781 ✭✭✭gypsy79


    Answer the question

    Do you think the nation of Ireland should borrow money using sovereign bonds and bet it on the stock market?

    Stop pussy footing round that!



  • Registered Users Posts: 28,609 ✭✭✭✭Wanderer78


    hahaha, wtf are you talking about?

    the state should borrow in order to help provide us with our most critical of needs, and to place these newly created state assets in sovereign wealth funds, to help provide us with our future needs, and to help spread this wealth more evenly, and the fact that all of this can be currently done at 2.5% fixed to......

    talking about pussy footing about......



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  • Registered Users Posts: 852 ✭✭✭Underpaid Mike


    As someone who works with a number of his peers thats simply not true. He is seen as a journalist who focuses on economic issues rather than someone credible in the field.



  • Registered Users Posts: 28,609 ✭✭✭✭Wanderer78


    would those peers be largely neoclassically based?



  • Registered Users Posts: 852 ✭✭✭Underpaid Mike


    "He along with others think we should take payment of corp revenues in shares". Who are these others ? Do you realise that means diluting existing shareholders - who would obviously revolt at the prospect. If it was ever enacted that would mean any listed firms effected would have zero choice but to leave Ireland as a revenue generating juristiction. Plus it would also be illegal under ECJ rules, so theres also that.

    This is junior cert stuff and nothing but clickbait. Like his nonsense call 18 months ago telling buyers to hold off on buying in the Irish market as prices are too high - despite the cause of the price increases being constrained supply at the time.

    What respected sources suggest Ireland - who has no natural resources - should start a soverign wealth fund and invest in the stock market ? The same Ireland who hasnt enough money to build houses for its citizens and has record homeless levels ?



  • Registered Users Posts: 28,609 ✭✭✭✭Wanderer78


    ...again many of his peers think this would work, and it certainly makes a lot of sense, as its clearly obvious, large corporations have little or no interest in spreading this wealth globally, if we maintain this approach, its very likely we ll eventually have complete social and economic collapse, as wealth inequality will simply be too much to maintain any level of functionality in both...

    i know mark blyth, eric lonergan, stephen kinsella etc, have mentioned simiarlish ideas, all of which are good mates of mcwilliams, each well respected in their own right, and as far as im aware, they have also backed mcwilliams in his idea of share ownership

    share holders can do all the revolting they like, if such an idea was indeed enforced, theyd have no choice but to do so, as they are in regards the oecd agreement in regards overall corporate profit tax rates, baring in mind, regions such as germany also enforce other corporate rules such as mandatory employee board membership, which should also be enforced here to, for obvious reasons, so rules can actually be changed!

    ...the last i heard, no corporation has decided to leave ireland, due to this rise in tax rates, i suspect they probably also wouldnt do so, if a small amount of these revenues were also accepted as stocks and shares

    i know blyth has mentioned an idea of swopping equity for bonds also, particularly in times of economic downturns, i.e. right now, i.e. when corporations come looking for sovereign bonds, tell them yup, but we ll take them as shares, and thank you very much, hes right to!

    again, mcwilliams and co. also know, neoclassical economics keeps overly simplifying markets down to their usual supply and demand nonsense, and keep conveniently excluding reality in the mean time, i.e. critical aspects such as the overall money supply, in particular the private sector money supply, i.e. the credit supply, and how it interacts with these markets, in particular in regards pricing, hence why he and others foreseen the 08 crash, i.e. neoclassical economics still has an absolute refusal to accept, increasing credit into markets, causes prices to rise!

    again, stock markets are known to give a very good rate of return over long periods, again, this is agreed by commentators such as blyth and lonergan etc, as it can be clearly seen, if theres no interventions now, more and more simply wont be able to provide themselves with some of their most critical of needs, property, health care etc etc, we ve tried the whole free market thing, it hasnt worked! we clearly need state interventions, and quickly, such approaches could very well work, as this is a method how smaller more wealthier entities in society accumulate wealth, yes it is indeed increased state risk, but by not trying such risky approaches, we re clearly going to end up in deep sh1t!

    the free market libertarian's had their chance, and it hasnt worked, it has resulted in a rapid rise in wealth inequality, and more and more, simply unable to meet their most critical of needs, its over!

    oh and they dont give these lads professorships for nothing!



  • Registered Users Posts: 1,781 ✭✭✭gypsy79


    Answer the question

    Should the government borrow to bet on stock market?

    Last time



  • Registered Users Posts: 14,196 ✭✭✭✭Arghus


    I guess this is why they call it the dismal science.



  • Registered Users Posts: 28,609 ✭✭✭✭Wanderer78


    jesus christ, again! yes our governments should be utilising their abilities to obtain stocks and shares, from revenue receipts and via the use of bonds, i.e. equity swoops etc, as its clearly obvious, the market is never going try share this form of wealth without such actions! similar types of state actions have already been enacted globally, including during economic downturns, i.e. when investors have come running looking for further state protections during these moments, requiring bailouts etc, strict conditions have been attached, so yes, such actions can be done, to truly benefit all!

    such actions would not reduce the overall availability of shares, as the state would also become apart of the global shareholders....

    ...again, your wording is all arse ways, you re trying to make it seem like the government is borrowing, when its not, under such conditions, its effectively swooping what is already agreed, i.e. revenue agreements etc, investors regularly run for the safety of sovereign bond markets during downturns, but we dont truly benefit as much as they do, under normal conditions, i.e. we d be better off doing equity swoops under these conditions, therefore when markets return after downturns, we would gain from the returning of markets after the fall! i.e. we would be gaining by gaining access to the equities at a low price, and when the market prices return after the downturn, we would gain from the rising prices, both the state and other shareholders would equally gain!

    ffs!



  • Registered Users Posts: 1,781 ✭✭✭gypsy79


    Wow simply wow

    Please tell me you don't have any education in economics



  • Registered Users Posts: 28,609 ✭✭✭✭Wanderer78


    thankfully no, as neoclassical economics is the predominant school of thought in academia, and its routinely and still is, largely debunked! this can be clearly seen in this school of thoughts approach to our current inflationary issues, i.e. according to this school of thought, inflation is nearly always caused by monetary policy, i.e. too much money creation, but reality routinely tells us, inflation can be caused by many factors such as supply and energy shocks, etc, as is the current case. i.e. raising rates will not resolve this, but will further worsen the situation, as debts, in both the public and private domains, become more difficult to service, possibly leading to the likelihood of increased defaults and non performing loans, i.e. potentially leading to a financial crisis! so i guess, watch this space!



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  • Registered Users Posts: 852 ✭✭✭Underpaid Mike


    Wish you had said this earlier so I wouldnt have wasted my time replying to you. David McWilliams is not and I repeat NOT widely respected by economists, he is ridiculed by them and he is taken as seriously as Eamonn Dunphy is as a football analyst. There for soundbites and nothing more.

    Any government on earth who borrows money to invest in the stock market is running a banana republic. Thats not what soverign wealth funds are. The fact that you dont understand the difference says all we need to know.

    Your final point on inflation simply proves you havent the first clue what you are talking about. Given that quantum mechanics DEBUNKS the theory of relatively should we simply discard the work of Newton and Einstein? All their findings must obviously be nonsense acording to your comment



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