via David McWilliams: The EUR 44m May miracle
Articles by David McWilliams are always a good read for people interested in economics in general and/or in the Irish economy in particular. His latest post lets us in on the secrets of the EUR 44m May miracle (May is the period in which catholic kids in Ireland have their First Holy Communion) and what it means to the local economy (from the obligatory bouncy castle to mummy’s hairs).
via David McWilliams: The tracker tail’s sorry ending
() Do you remember the ad in which a bloke on the top floor of a Dublin bus stands up and admits to all the passengers: “I don’t know what a tracker mortgage is”? He stands up, unsure of himself, and makes his public confession, half-petrified. You can see the relief on his face as he admits that he hasn’t a “rasher’s”. (…)
Yes, I do remember this ad.
It symbolizes much of what went wrong in Ireland during the run up to the property crash; widespread ignorance about personal finances, inadequate bank regulations and the tracker mortgage.
McWilliams narrates the story of the tracker and why it puts a huge brake on the recovery of the Irish economy for years to come.
Guys, get your hands on a book, any book! It will change your life forever.
Eurocentrism, the practice of viewing the world from a European perspective, is getting more and more irrelevant (in the economy, demography etc.). This development will also reach the shores of the Holy Sea. Will the next conclave acknowledge a changing reality?
Interesting article by David McWilliams
via It’s simple Popenomics – Catholic Church must turn to New World.
Filed under English
Ireland’s very favourable corporate tax rate will be up for discussion sooner rather than later. David McWilliams argues rightly that the world has changed since the financial crisis struck. Funds are tide everywhere. A public strangled by austerity and cut-backs demands that the burden is shared more evenly. This includes explicitly also giant multinationals. The pressure on governments that facilitate tax avoidance practices, such as the Irish, will mount.
Your author supports this view.
Link (recommended reading):
via Corporation tax sleight of hand will turn us into world pariahs.
Czerulf's Thoughts 