A simple way to understand Liberty & the Free Market

This is a simple video, and yet a compelling one about some of the fundamental rights of people and of our right to self determination. How does this tie into mortgages or economics? Simply put it shows that the government of a country don’t have the right to force the state to underwrite banks, in fact, it only rewards bad behavior and the end result is that we all pay for a business issue which we did not create, if a bank lends you money it does so by choice, when in reverse (such as our state bailout plan) we were never given any right or choice as to how it would work, or if it was even a good idea. The guarantee was given first and conditions attached last, ill thought out and moral hazard is merely the beginning of it all.

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A simple way to understand Liberty & the Free Market

This is a simple video, and yet a compelling one about some of the fundamental rights of people and of our right to self determination. How does this tie into mortgages or economics? Simply put it shows that the government of a country don’t have the right to force the state to underwrite banks, in fact, it only rewards bad behavior and the end result is that we all pay for a business issue which we did not create, if a bank lends you money it does so by choice, when in reverse (such as our state bailout plan) we were never given any right or choice as to how it would work, or if it was even a good idea. The guarantee was given first and conditions attached last, ill thought out and moral hazard is merely the beginning of it all.

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It's Official, we are in a recession: Irish recession 2008

I had said back in January that we were on the cusp of a recession, that this would have started out in Q1 and only be realised further down the line. I was wrong, my estimates flawed by a few weeks. Having taken it in the neck from many colleagues I am now partially smug, but more so disappointed because to be honest it means that all the talk of ‘it might happen’ is no longer considered doom and gloom, instead it is fact.

This news is already being reported as far away as New Zealand! How did they get this story the day before we did? Something to do with the international date line I assume, the CSO (Central Statistics Office) released this information today and we had two quarters of negative GDP meaning that we are officially in a recession. How does it feel to ‘officially’ …

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It’s Official, we are in a recession: Irish recession 2008

I had said back in January that we were on the cusp of a recession, that this would have started out in Q1 and only be realised further down the line. I was wrong, my estimates flawed by a few weeks. Having taken it in the neck from many colleagues I am now partially smug, but more so disappointed because to be honest it means that all the talk of ‘it might happen’ is no longer considered doom and gloom, instead it is fact.

This news is already being reported as far away as New Zealand! How did they get this story the day before we did? Something to do with the international date line I assume, the CSO (Central Statistics Office) released this information today and we had two quarters of negative GDP meaning that we are officially in a recession. How does it feel to ‘officially’ …

Read More