We discussed housing and the economy with Marc Coleman on his Sunday night show ‘Coleman at Large’. Other guests included Dan White from the Herald, Constantin Gurgiev of Trinity, Sheena Horgan who works in marketing and Karl Deeter.
Feasta and the Smart Taxes Network are holding a conference on the 22nd & 23rd of September in the Mont Clare Hotel in Dublin 2. The people who work in Feasta are ideologically diverse (that is one of the things I really like about them!) and a bright bunch, the delivery, debate and data are all sure to be excellent. Hopefully we’ll see some of our readers there! (details below)
It is sure to be a treat, there are great speakers from around the world, to name a few:
Marshall Auerback (Roosevelt Institute Fellow & global portfolio strategist for Madison Street Partners, LLC) Prof. Charles Goodhart (member of the Financial Markets Group at the London School of Economics & former monetary adviser to the Bank of England) Bernard Lietaer (author of ‘The Future of Money’ & international expert in currency systems)
And of course we have our home-side team of heavyweights too! Fergal O’Brien (Chief Economist – IBEC), Richard Douthwaite (Sustainability Economist and Author), Dan …
I plagiarised the chart below from Constantin Gurdgievs blog (which is brilliant btw) be sure to check it out.
What we can see is a widening of the deficit which is partly cyclical but also due to our spending habits versus our income, that is sometimes referred to as the ‘structural deficit‘ or a ‘public service deficit’, that shouldn’t be used as a stick against the public sector by default because it isn’t only arising from there, although public sector wage levels must be addressed because the costs in our public sector are heavily embedded and that presents a massive problem for making any adjustment given the percentage of spending that wages represent. Our property boom lead to a surplus which was rapidly spent, and ultimately it disguised a significant fiscal gap which we see emerging in the chart above.
The person who has given the most poignant thoughts on that matter lately in Ireland is (imo) Read More →