LegalEagleStar

… a kind of Legal Column

Posts Tagged ‘economy

Ireland in Ruins

with one comment


English: Anglo Irish Bank, Great Victoria Stre...

English: Anglo Irish Bank, Great Victoria Street, Belfast, Northern Ireland, October 2010 (Photo credit: Wikipedia)

During the week I Retweeted the following from KSat News in San Antonio, Texas….

Tom Baldwin@LegalEagleStar

I wonder how many of these guys made money from Irish Citizens? Bondholders ? Ask #Enda World’s richest billionaires http://www.ksat.com/-/478556/9259712/-/wvv8urz/-/index.html#.UTT3ocxeiUo.twitter …

If we go to the List we see Warren Buffett, the 82-year-old CEO of Berkshire Hathaway is worth an estimated $53.5 billion. Bill Gates, chairman and co-founder of Microsoft Corp., is also co-chairman of the Bill & Melinda Gates Foundation. His net worth is more than $67 billion. I ask the hypothetical question whether any of these made money on the back of the Irish Citizen? The answer is that I don’t know and our Government is making sure that I cannot find the answer as they refuse to disclose the identity of the Bondholders of Anglo Irish Bank and other Bank Bondholders who have been handed money by our Tax Payers. Our Government has, and is paying back every cent due to these same anonymous bondholders. The Citizen on the other hand, those that invested their redundancy or inheritances, if they were lucky enough to have the money in the first place, have taken huge loses in whatever Funds they were advised to invest in. No bailout for the Citizen, only those who claim Elite status.

The Citizen in Ireland now faces a life devoid of hope. They face the serious prospect of their homes being repossessed by these same Banks and Financial Institutions who they have in fact bailed out. My point is that Billionaires small change would rescue Ireland. But our Government prefers to be the Good Boy in the Euro Class and instead bleed their citizens dry. I’m sure that Billionaires have reaped the rewards from their Bonds, many of which were purchased, I’m told, at a great markdown. I’m sure they were laughing at the incompetent Irish all the way to their banks.

We’re told we are in a recession. I’m not an economist but have listened carefully to our Economists over the past number of years. Their diverse opinions are at times illuminating but it seems most just base their opinions and comments on what is in the media at any given time.  Some, who I believe should know better give us little hope and just side with Government strategy in advising more austerity and pain for Citizens who already have been cut to the bone. It seems they reside in a parallel universe where people count for little or nothing and all that is important is the survival of the multinational conglomerates and their bankers. Tune in to Vincent Browne’s Show Monday to Thursday at 11pm on TV3 and listen to their endless diatribe. To be fair to Vincent he does tend to show them up for what they are and in an entertaining fashion.

Historically, Irish People have trusted their politicians and for that matter, their local friendly bank manager. If advised to purchase a home they will follow the advice, take whatever mortgage is offered and complete the purchase. They are fed media hype concerning what they should buy and most if not all media handed out advise on a weekly basis with glossy inserts in the daily papers. People are trusting and believe what they are told. Naive many would say, but I for one have seen what motivates people. As a solicitor in practise for over thirty years, I see the ‘little guy’ spending his/her hard-earned cash in ways that they are ‘urged’ to do by their ‘leaders’, whether politicians, bank managers, investment brokers, Thursday’s Irish Independent Property Supplement, Friday’s Irish Times Property Supplement or indeed the Sunday Papers with their advice regarding the queues outside housing developments to get a bargain. People cannot be expected to discriminate against such pressure from those they have come to trust. Their Friday Irish Times has in fact become the ‘Bible’ for such people. Can we honestly blame people for being taken in by such propaganda? The media, our politicians etc. were forcing an agenda. Those behind the newspapers, advisers and yes sadly, our politicians were making a fortune for themselves, I believe, on the back of the citizen. The money our people spent ended up in already rich coffers.

Now politicians change their mind and continue our previous  Government’s austerity measures. People threw out Fianna Fail as they believed them corrupt and voted for change.  Now they feel betrayed by those they trusted, again naively some might say, who now claim their hands are tied by previous the Government. So while politicians change their minds and continue to trade cheap shots with one another, the Citizen is driven to bankruptcy, lose their family homes and family silver and are told its their own fault. ‘We partied during the Celtic Tiger’ we have been told. No we didn’t. Yes, most did their part as they were told and spent money on property, if the funds were handed to them. To say people partied is an insult. The Citizen is now driven to despair and sadly many lives have been lost due primarily to the helpless situation they find themselves in. Families have been broken up, many, too many suicides have occurred and yet the Government ignores their pleas for help.

Yesterday we saw our leaders Enda Kenny, Fine Gael and Eamonn Gilmore, Labour Party  ‘glorify’ in the success of the first two years of their Government. They told us that we are doing well. The reality is somewhat different on the streets where the level of poverty has arisen to greater heights than ever before in my lifetime. This without the upcoming property tax, water metering and whatever other schemes they dream up to fleece the citizen. Remember all those that bought their homes paid an enormous amount of Stamp Duty and to ask them to now pay Property Tax is an absolute travesty of justice. Those ‘economists’ who favour this charge citing other countries property taxes, simply ignore this injustice. Shame on them ! There seems a major disconnect from what politicians are saying and what the reality is. While citizens are awakening in a new era of poverty and austerity, corporations, who are not even pursued for the meagre corporation tax, continue to prosper. Who are the Government working for? The citizen or the multinationals who continue to prosper?

Are we in a recession or is it the implementation of all those Euro Treaties that we were told would bring jobs, prosperity etc. The United States of Europe, which no Irish Citizen ever voted openly for, but is the culmination of said Treaties, is now a reality and its imposition is being forced upon us. Be careful for what you wish for as all those Yes to Europe Votes have indeed come back to haunt us. We Irish are now a small poor Statelet within a huge capitalist entity. How did we ever think we’d be a player enjoying equality and fraternity with the likes of Germany? That is what we were sold by our politicians and we believed them. Recently on RTE Pat Rabbitte, a prominent member of the Labour Party said that you say some things before elections. He was justifying a change of mind when parties take power…

Video: Pat Rabbitte admits to breaking election promises http://www.joe.ie/news-politics/current-affairs/video-pat-rabbitte-admits-to-breaking-election-promises-0031538-1 … via @JOEdotie …And We continue to believe them..

Enda Kenny changed his mind on taxing the family home. I tweeted on this…Tom Baldwin@LegalEagleStar

‘It is morally wrong. unjust+unfair to tax a person’s home.’ EndaKenny 1994.’Don’t ever trust a politician.’ Me, 2013 pic.twitter.com/0P05G6vxY1

When I was in College we were taught about Capitalism, that you were ‘Never too big to fail’ What utter nonsense. Whosoever controls the capital calls the tune. Billionaires who continue to prosper, their bankers and suchlike, many under the guise of Anglo Irish bank Bondholders control this new United States of Europe. I wonder as to where the old Nazis are now because Hitler has indeed realised his ultimate goal of a United States of Europe under German control and with an ‘Elite’  firmly in charge of our destiny. Whatever will the German people think when they discover what is really happening to the Irish Citizen?

LegalEagleStar , Thursday , 7th. March , 2013.

%d bloggers like this: