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  • Registered Users Posts: 67,070 ✭✭✭✭FrancieBrady


    TBH, you could replace 'FG' in that post with 'FF' and it would make the same sense.



  • Registered Users Posts: 10,456 ✭✭✭✭Furze99


    There's a big difference between throwing a protest vote to SF, knowing they are very unlikely to get into power. And voting SF when there is some actual prospect of then succeeding. Night & day.



  • Registered Users Posts: 6,611 ✭✭✭Brussels Sprout



    I'd respectfully disagree. What it comes down to there is the difference between FF & FG. I know it's popular to say that there is no actual difference but there was always a difference going back decades. We don't have a titled upper class in the same sense that they do in the UK. The nearest thing we had is the group that contained the big farmers and landowners, the barristers and judges, the consultants, the bank managers and the higher ranks fo the civil service. That group was the traditional heartland of FG. Meanwhile FF drew their support from the working class, the builders, the publicans, small farmers, bookmakers and other small business owners.


    Now obviously those aren't strict classifications and since the Celtic Tiger and the crash it's all been changed massively. At the same time SF have emerge and grown rapidly. The thing is SF haven't been taking support from FG. They have mostly been taking it from FF, especially with the working class vote. The fact that they have been drawing support from the same groupings makes it much easier for them to work together. The same does not go for SF and FG.



  • Registered Users Posts: 757 ✭✭✭generic_throwaway


    The level of misunderstanding here is huge. We can borrow at or near negative rates FOR THE MOMENT. This is not the norm. What happens when we have to pay back normal levels of interest? Who will lend to us when our debt exceeds sustainable levels?

    This is your grand plan? An actual magical money tree?



  • Registered Users Posts: 28,872 ✭✭✭✭Wanderer78


    as explained, rates may remain low for the foreseeable, as its potentially too dangerous to raise them, as explained..... public debt is far different in many ways than private debt, it is common for public debts to be rolled over indefinitely, sometimes for many decades, even centuries in some cases, until fully serviced, this isnt necessarily true for private debts, it is much harder to do the same with private debts, i.e. indefinite rollovers etc.

    what do you mean by normal, what is normal? again, at the moment, the ecb is purchasing government bonds, so effectively the ecb is indirectly lending to us, as it is illegal to lend directly.

    yes, we must embrace the so called 'magical money trees' of the public sector, i.e. the states ability to create money, via bond markets, as explained, as we have become over reliant on the private sector magic money trees, i.e. credit markets, which has become too unstable and too dangerous, as a primarily credit fueled economy tends to lead to a credit fueled asset boom such as a credit fueled building boom, graph, once again supplied!

    oh and this isnt my grand plan, this comes from respected economic and political commentators, some of which realised the 08 crash was in the post prior to it, largely due to these issues




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  • Registered Users Posts: 757 ✭✭✭generic_throwaway


    1. Who will continue to buy our bonds when we stop paying interest on them?
    2. Can you please share links to these respected economic commentators suggesting we just print money in this manner?
    3. How do we not cause runaway inflation as we effectively print money like Zimbabwe a decade ago?
    4. What happens to interest rates as runaway inflation takes hold?


  • Registered Users Posts: 67,070 ✭✭✭✭FrancieBrady


    FG had around 35-37%(plus or minus 3-4% at various times) of the share of the vote through the period when they represented the big farmers/judicial class etc.

    I don't think they have a monopoly there anymore and I could see them fall to 15% or even lower if things went against them.

    More and more that lost vote will only be given back on an election to election basis.

    Doesn't particularly matter where the votes go, the salient fact is they are 'going'.

    One of the significant changes I think is votes like mine, which do not belong to anyone, 'fail to deliver at least some of your core promises, lose the vote'. I can only see that attitude growing as the generations change.

    Enda failing to deliver on 2011 promises did more damage to FG than SF TBH. That was another watershed in Irish politics and the body politic has not reverted to vote owning or strict party allegiance.

    SF are 'borrowing' votes too on top of their core. They'll have to deliver to hold on to them.



  • Registered Users Posts: 757 ✭✭✭generic_throwaway


    SF have just passed a motion approving the use of non-jury trials where required. Credit where credit is due.



  • Registered Users Posts: 28,872 ✭✭✭✭Wanderer78


    stop paying interest on what, how why, why would we stop paying interest, what do you mean?

    theres many, do you really want me to do that?

    you do realise we ve been running a deficit throughout covid, and yes we are experiencing inflation, but that is primarily linked to serious supply side issues?

    its important to understand why countries such as Zimbabwe and Venezuela experienced their inflationary issues, most of their debts were in foreign currencies, i.e. dollars, and both countries were in fact experiencing serious supplied side issues. when mugabe took power in Zimbabwe, he ordered the white farmers off their land, giving it to black citizens, these in turn were unable to keep up with food demands, forcing mugabe to trade with foreign countries, in foreign currencies, in order to meet their food demands....

    if inflation truly becomes a problem, governments can simply increase taxes, pull the money back in, i.e. pulling the money out of circulation, we actually do this anyway, when governments run a surplus

    most countries have been experiencing little or no inflation, no matter what central banks done in regards rates, for many years now, one reason being, most of us have moved towards primarily credit run economies, i would argue all of our inflation has gone primarily towards asset markets, some may in fact be in a hyper inflationary situation, debatable of course. all this has resulted in many of us, including ireland, to experience low wage inflation but high asset price inflation, these have now decoupled, causing our current property problems...



  • Registered Users Posts: 757 ✭✭✭generic_throwaway


    I don't think you understand what a bond even is, so it makes it difficult to have this conversation. But if you acknowledge interest must be paid on bonds, there is a limit to how much we can pay - surely you can see this? Therefore there is a limit to the value of bonds we can issue.

    Further - bonds need to have buyers. Who is buying all these bonds? Why would they buy them unless we are paying the coupon?

    And your solution to runaway inflation: increase taxes? You realise that (in this fairytale scenario) that will crash the economy just as much as reeling in spending would?

    I say this with the greatest of respect: you do not understand how financial markets or the economy work. This idea is ludicrous. I suggest you do some more reading on this (from some mainstream sources) and it should help you to see why this could never work.


    Oh...and on your point about there not being inflation yet: have you not noticed the rocketing inflation of asset values? Sure, your cornflakes have not inflated much - have you tried to buy a house? Or some Apple stocks for your pension fund?



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  • Registered Users Posts: 28,872 ✭✭✭✭Wanderer78


    thank you, but i will strongly disagree, and will stick to my sources, who many are in fact highly respected in their field, many are in fact professors, and again, some were in fact screaming from their respected roof tops, prior to 08, about these matters. also, mainstream economics is called neoclassical economics, this is the primarily field of economic thought, of which our governments are thought and advised, its also important to note, this school of thought has a refusal to accept our reality in manner critical ways, simply realities such as money creation in our financial institutions, i.e. banks, via credit creation, this is still the case. these refusals of understanding are now at a disturbing level, as you can see our economy is now perfectly primed for another credit fueled building boom, we reap what we sow, or more truthfully, your kids, grand kids, nieces and nephews do!

    thanks again



  • Registered Users Posts: 757 ✭✭✭generic_throwaway


    You declined to name these 'highly respected' sources for some reason. And you cannot seem to answer even the most basic challenges to your proposal.



  • Registered Users Posts: 2,543 ✭✭✭Ardillaun


    FG would be very ill advised to go into coalition with SF. Why work to protect them from the many difficult and unpopular compromises that government brings? SF can promise what they like at the moment but that happy state ends the day they take power. Anyway, a spell in opposition would do FG no harm - they could dump their leader for a start. Meanwhile, SF and whoever could run a minority government, if necessary with abstentions from the other larger parties on confidence motions to keep the wilder independents from obstructing the business of the Dáil.



  • Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,266 CMod ✭✭✭✭Nody


    The best possible outcome for FG is to have SF as main party in a government and the reality shock that would bring when their voters get to see what SF actually will implement would be glorious. It would be the biggest boon the other parties could ask for (that is for the parties who are not in the coalition though I'd guess further left wing parties might get a few more seats from the disappointment in next election cycle). The problem of course as already noted is that short of either a drastic change in voting and / or FG/FF remaining relatively large still AND deciding to go into a coalition it's unlikely to happen any time soon (i.e. SF would need to steal votes from one but not the other and then create the coalition).



  • Registered Users Posts: 28,872 ✭✭✭✭Wanderer78


    i have a long list, i can list them if you like?

    please be as specific as you can be in regards what you d like to know? funnily enough, i could say the same about yourself, for example, if we do indeed default to our normal approach to running our economy, which we more than likely will do i.e. a balanced budget, whats the chances of defaulting to a primarily credit run one?

    thank you



  • Registered Users Posts: 2,543 ✭✭✭Ardillaun


    I’d like to see what the SF supporters here think of that. Presumably, some like it and some don’t. It’s one of many compromises they are going to have to make if they want to run the country.



  • Registered Users Posts: 757 ✭✭✭generic_throwaway


    Yes, I asked for the list twice already.

    Also the specific questions are in post #281

    As to your question: "if we do indeed default to our normal approach to running our economy...a balanced budget, whats the chances of defaulting to a primarily credit run one?

    Governments don't tend to ever pay off their debt, typically allowing it to wax and wane as needed. If by 'a primarily credit run one' you mean your proposal, then I don't see that ever happening for the reasons I have already outlined.

    Post edited by generic_throwaway on


  • Registered Users Posts: 45,280 ✭✭✭✭Bobeagleburger



    They have forgotten their roots it seems. Short memories. A lot of volunteers spinning in their graves at this news. Surely this has upset a lot of ex provos in the party.



  • Registered Users Posts: 67,070 ✭✭✭✭FrancieBrady


    Is it anymore unusual than other party's dropping longstanding stances? Leo and FG dropping objections to SSM and adoption springs to mind. To listen to FG you'd think they came up with the idea.

    Not seeing much dissention or defection over this in SF. They had already changed from wanting rid altogether to reforming it.



  • Registered Users Posts: 3,181 ✭✭✭Good loser


    How could anybody seriously vote for a Party that objects in principle to LPT, Water Charges and a Carbon Tax?



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  • Registered Users Posts: 8,913 ✭✭✭Danno


    yes, in the modern world, debt is our money supply, without it, no mon, no fun! in order to increase and maintain economic activities, someone must be taking on debt in some form, this is done by either the private sector, via credit markets, and when governments run a deficit, i.e. exactly what we done when covid hit, as the private sector was unwilling/unable to take on the debt at the time. the previous economic crash has yet again shown us, running our economies primarily on private debt, i.e. credit, has become too dangerous and too unstable, so we now must embrace further public debt, to try reduce these dangers and instabilities, once again, this is done when our governments run a deficit.

    It takes a very special entitled type of person to vomit out this bile. It is high time that those in the higher echelons of civil servants were made to understand who pays their wages and pensions. This "entitlement" culture is nigh on a harsh end. You wankpots are so far removed from reality.



  • Registered Users Posts: 12,019 ✭✭✭✭Rjd2


    I think a lot of the FG vote atm is a protest vote against SF so it would be an absolute **** you to a sizable element of their current base.

    If anyway serious about winning the next election Leo needs to go, just the personification of nothingness.

    Post edited by Rjd2 on


  • Registered Users Posts: 6,611 ✭✭✭Brussels Sprout



    Those are red lines for me but there's a huge crowd of people who object to all 3. They will say that their opposition is on principle and then give you one of the following reasons to back that up:

    • water: "It's a natural resource and we already pay for cleaning and transporting it through general taxation"
    • property: "People's family homes shouldn't be taxed."
    • carbon: since this is the latest one there doesn't seem to be a cohesive opposing message to this one yet but take your pick from
      • "This is a tax on the poor",
      • "Why don't you make {insert other sector or country} pay for it instead since they create more emissions",
      • "This is just the latest bad science by the Greens - remember what they said about diesel cars!!"


    There's always going to be a willing voter base for a party that tells you that you don't in fact need to pay more tax. If they can do that while also telling you that you can do so without feeling guilty about it then all the better.



  • Registered Users Posts: 20,929 ✭✭✭✭Ash.J.Williams


    to counter sin fein fffg need to come out publicly and state why they haven’t delivered on housing and why sin fein would not if elected



  • Registered Users Posts: 16,060 ✭✭✭✭Loafing Oaf


    Not sure that's ever a constructive line for a government to take; when you're explaining you're losing and all that. Maybe better to go with "Stick with us and we'll get the job done in the long run; don't trust SF's empty promises."



  • Registered Users Posts: 195 ✭✭Bsharp


    I'd make the election about Sinn Fein's plan for a united Ireland within the next few years;

    Extra tax to pay for it

    Lower social welfare and pensions

    Reducing living standards

    Hard earned money going to Northern Ireland instead of already struggling cities and regions etc

    A lot of people like the idea of a United Ireland but have no desire to pay for it. They'll vote in their own interest first and foremost.

    Long finger UI in your own manifesto.



  • Posts: 61 ✭✭ [Deleted User]


    Who are the demographic that voted for SF for the first time in the 2020 election after previously voting FF/FG?

    Any studies on this?



  • Registered Users Posts: 20,929 ✭✭✭✭Ash.J.Williams




  • Registered Users Posts: 67,070 ✭✭✭✭FrancieBrady


    I'm part of that demographic.

    I genuinely believe there is now a sizable demographic who will not do the power swap twostep and who will vote outside it.

    For me, and again, I think a lot of others, Enda's cynicism in buying votes in 2011 and 16 is coming back to haunt FG, not helped by their coalescing with FF, which has the potential to destroy them altogether if Martin cannot arrest the fall.



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  • Registered Users Posts: 1,068 ✭✭✭Murph85


    I'd agree about carbon tax. Propery tax, I disagree with here, in ireland it's a farce. A huge skint paying in as good as nothing. The only ones paying anything meaningful , are the ones already being robbed on mod to high incomes. Water charges were balled up and burned out of cowardice from fg mainly... then again, rte and the left wing media were pushing their usual agenda. Only the " rich " I.e those earning more than minimum wage should pay it...

    In Ireland, all extra revenue will be squandered. In properly run countries, where the tax burden is far more shared and you get value for money. Those taxes are all no brainers. That isn't the case in this banana republic...



This discussion has been closed.
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