FG to just do nothing for the next 5 years.

blanch152

smurgen wrote: »

Have a masters in economics actually what’s your educational background?

I find that hard to believe.

Your grasp of economics is tenuous at best.

Jinglejangle69

smurgen wrote: »

Banks cannot sell Irish mortgage books to investors? It’s happened dozens of times over the last three years.

https://www.thejournal.ie/ulster-bank-sell-off-family-homes-4707427-Jul2019/

Who said banks cannot sell to foreign investors?

smurgen

blanch152 wrote: »

I find that hard to believe.

Your grasp of economics is tenuous at best.

Can I please ask your qualification before I qualify your ability to judge myself?

smurgen

Jinglejangle69 wrote: »

Who said banks cannot sell to foreign investors?

“No one wants to buy Irish mortgages off irish banks because loans repayments are optional” I’ve just replied to this after you hounding me and demonstrated it to be 100% bollocks. Digest and come back to me sunshine.

Jinglejangle69

smurgen wrote: »

“No one wants to buy Irish mortgages off irish banks because loans repayments are optional” I’ve just replied to this after you housing me and demonstrated it to be 100% bollocks. Digest and come back to me sunshine.

Once again who said banks cannot sell to foreign investors?

Bass Reeves

smurgen wrote: »

Banks cannot sell Irish mortgage books to investors? It’s happened dozens of times over the last three years.

https://www.thejournal.ie/ulster-bank-sell-off-family-homes-4707427-Jul2019/

These are mainly non preforming loans that banks sell at a huge discount to book value. Often at 50% and below par value. But they cannot sell books of what are viable loans and do it profitably. Because of historically low interest and bond rates, investment funds across the world look for positive return low risk opportunities. They do not consider Irish mortgages books as these opportunities even though they have double the interest rates of other European countries. They prefer to buy French, German, Spanish and believe it or not Italian loans books with lower returns rather than buy these Irish loan books with rack rates on them.

Any economist worth his salt would understand that there has to be a reason for this. It called higher risk.

smurgen

Bass Reeves wrote: »

These are mainly non preforming loans that banks sell at a huge discount to book value. Often at 50% and below par value. But they cannot sell books of what are viable loans and do it profitably. Because of historically low interest and bond rates, investment funds across the world look for positive return low risk opportunities. They do not consider Irish mortgages books as these opportunities even though they have double the interest rates of other European countries. They prefer to buy French, German, Spanish and believe it or not Italian loans books with lower returns rather than buy these Irish loan books with rack rates on them.

Any economist worth his salt would understand that there has to be a reason for this. It called higher risk.

I'm not a economist for transparency. I work in debt funds however so have an awareness around debt origination and risk profiling. The fact is the tax breaks that are available to types of funds that hoover up Irish debt more than offset the risk associated. In particular IUT is extremely generous to foreign investors. Alot of ICAVs availing of this and when ILP legislation is past I can see this area becoming even more popular.

blanch152

smurgen wrote: »

Can I please ask your qualification before I qualify your ability to judge myself?

I have several masters, including one in public administration, currently working towards another one, don’t believe in doctorates as they make you so specialisied you can’t see the bigger picture.

Left economics a long time ago because it depended on people behaving rationally. I have had too much experience with people to know that rationality is far from the norm.

Anyone with a Masters in Economics is limited by the severe limitations of the subject.

FrancieBrady

Jinglejangle69 wrote: »

Once again who said banks cannot sell to foreign investors?

Are you gonna clog the thread with this pedantry again?

If 'nobody wants to buy'...as the poster said, it stands to feckingg reason that you 'cannot sell'.

smurgen

blanch152 wrote: »

I have several masters, including one in public administration, currently working towards another one, don’t believe in doctorates as they make you so specialisied you can’t see the bigger picture.

Left economics a long time ago because it depended on people behaving rationally. I have had too much experience with people to know that rationality is far from the norm.

Anyone with a Masters in Economics is limited by the severe limitations of the subject.

Well I take it back you do have a right to comment also. However I disagree with your synopsis. I believe that economics should serve people not vice versa. I suppose my republicanism comes from the fact I believe that Irish people for the most part are amicable and adhere for rules. In more simple terms I think we're a great bunch of lads. My hope is that we foster and develop a robust domestic economy and increase the support to our own entrepreneurs. I think we've for too long now relied on the multinationals to raise our economy leaving us exposed.

efanton

blanch152 wrote: »

I have several masters, including one in public administration, currently working towards another one, don’t believe in doctorates as they make you so specialisied you can’t see the bigger picture.

Left economics a long time ago because it depended on people behaving rationally. I have had too much experience with people to know that rationality is far from the norm.

Anyone with a Masters in Economics is limited by the severe limitations of the subject.

Not having any education in the economics field, surely making a considered assessment of what people will do with their money for a given situation is exactly what economics is about.

Otherwise it would simply be mathematics or accountantcy.

J_1980

smurgen wrote: »

Banks cannot sell Irish mortgage books to investors? It’s happened dozens of times over the last three years.

https://www.thejournal.ie/ulster-bank-sell-off-family-homes-4707427-Jul2019/

https://www.epaper.dk/finansdanmark/the-danish-mortgage-_-covered-bond-model/

Read this. I was obviously not talking about NPL but performing new ones...

If banks have to sell NPL at 50% discounts obviously there are buyers. But with such losses what is going to be the impact on the mortgage rate for new borrowers???

Sometimes I think degrees are sold out of vending machines in this country, simply can not understand how someone supposedly educated can’t grasp very obvious concepts.

smurgen

J_1980 wrote: »

https://www.epaper.dk/finansdanmark/the-danish-mortgage-_-covered-bond-model/

Read this. I was obviously not talking about NPL but performing new ones...

If banks have to sell NPL at 50% discounts obviously there are buyers. But with such losses what is going to be the impact on the mortgage rate for new borrowers???

Sometimes I think degrees are sold out of vending machines in this country, simply can not understand how someone supposedly educated can’t grasp very obvious concepts.

I just disproved a claim of yours. Maybe try to be more careful with your language in future.

Rodney Bathgate

smurgen wrote: »

SF leading.

What is stopping them?

smurgen

As for those saying not to question the government and their experts at all at all here yesterday here's an interesting one I came across. Chief Medical Officer Dr Tony Holohan says it's too soon to restrict visiting on 11/03 and 26/03 here's the same Dr urging family to stay away after multiple clusters and deaths in nursing homes.

http://www.redfm.ie/news/coronavirus/department-of-health-blanket-ban-on-visitors-to-hospitals-and-nursing-homes-amid-coronavirus-unnecessary/

https://www.irishexaminer.com/breakingnews/ireland/coronavirus-ten-more-deaths-in-ireland-as-six-clusters-in-nursing-homes-990410.html

Runaways

Wet dream for a few here

James Brown

MM hoping FG and Labour might do something. Poor MM, Leo isn't in a hurry. The caretaker Taoiseach is now the Taoiseach by default.

satguy

If things stay like this any longer, and Leo keeps doing a great job.

Two things will happen...

1. Jim O'Callaghan will push MM off the raft.
2. Jim O'Callaghan will pick up the phone and speak to SF.

They really can't leave FG in the lime light much longer.

Bowie

Bowie wrote: »

MM hoping FG and Labour might do something. Poor MM, Leo isn't in a hurry. The caretaker Taoiseach is now the Taoiseach by default.

And isn’t our Taoiseach doing a great job.

McMurphy

Deleted User wrote: »

And isn’t our Taoiseach doing a great job.

Dobbo did a great job when it came to reading autocues too.

He's doing what the health experts are telling him to do, so too would anyone else who found themselves in the accidental position leo has found himself in.

oceanman

Deleted User wrote: »

And isn’t our Taoiseach doing a great job.

his script writers are doing a great job..

Runaways

McMurphy wrote: »

Dobbo did a great job when it came to reading autocues too.

He's doing what the health experts are telling him to do, so too would anyone else who found themselves in the accidental position leo has found himself in.

As would Martin or McDonald in his role.
Something our naysayer pals here seem to be happy to willingly forget

satguy

Deleted User wrote: »

And isn’t our Taoiseach doing a great job.

Yes,, But that's the point.

In a national crisis where rich people might die, he shows FG can do a really great job.

But in a homeless crisis, or hospital bed crisis, where poor people might die,, Then FG and Leo do nothing,, for the last 9 years, nothing.

FrancieBrady

Deleted User wrote: »

And isn’t our Taoiseach doing a great job.

I hate to tell the FGers that once the 'blitz' spirit wears off the cold hard realities are not going to be nice for FG.

Why? Because the cold harsh realities of what we are in is not going to be nice.

Rodney Bathgate

Runaways wrote: »

As would ... McDonald in his role.

Do you have anything to back this claim up?

satguy

satguy wrote: »

Yes,, But that's the point.

In a national crisis where rich people might die, he shows FG can do a really great job.

But in a homeless crisis, or hospital bed crisis, where poor people might die,, Then FG and Leo do nothing,, for the last 9 years, nothing.

Strange how the homeless and hospital bed crises have disappeared with the arrival of Covid 19. Hundreds of housing units magically appear. And those that usually clog up A&E are amazingly healthy now. Coincidence or what?

Rodney Bathgate

FrancieBrady wrote: »

I hate to tell the FGers that once the 'blitz' spirit wears off the cold hard realities are not going to be nice for FG.

Why? Because the cold harsh realities of what we are in is not going to be nice.

And we can be sure that SF will run a mile. If another election was called SF would probably field fewer candidates in case they actually risked getting into power.

FrancieBrady

FrancieBrady wrote: »

I hate to tell the FGers that once the 'blitz' spirit wears off the cold hard realities are not going to be nice for FG.

Why? Because the cold harsh realities of what we are in is not going to be nice.

I think anyone with an ounce of sense knows that we’re in for a rough ride.

J_1980

FrancieBrady wrote: »

I hate to tell the FGers that once the 'blitz' spirit wears off the cold hard realities are not going to be nice for FG.

Why? Because the cold harsh realities of what we are in is not going to be nice.

Corona is like 9-11, Berlin Wall, Stalingrad, Versailles1918.....
This time, It’s the victory of the authoritarian capitalist asian state and end of the liberal western welfare democracy

It’s going to be miserable with with 250bn debt and 15bn deficits. What makes you think SF have the solution?
Doesn’t matter who wins the next election, the sponger welfare state has to go. It’s a new epoch, the beginning of the Asian century
Adapt or become irrelevant
Italy is already borderline irrelevant (and they know it)

Rodney Bathgate

J_1980 wrote: »

Corona is like 9-11, Berlin Wall, Stalingrad, Versailles1918.....
It’s the victory of the authoritarian capitalist asian state and end of the liberal western welfare democracy

It’s going to be miserable with with 250bn debt and 15bn deficits. What makes you think SF have the solution?
Doesn’t matter who wins the next election, the sponger welfare state has to go. It’s a new epoch, the beginning of the Asian century
Adapt or become irrelevant

Or in SFs case, remain irrelevant.