Slugger’s Daily Blogburst…

Kicking off, with the Irish Government’s final understanding that those guarantees are not enough to fend off the impending crisis, and it finally came up with the re-capitalisation of the banks that Irish Election (amongst others) called for over a month ago. Though as David McWilliams noted on Morning Ireland this morning, 10 billion Euro is likely only to be the start. – Ciaran has four gripes with Ireland just now. My favourite:

We re-elect a venal government that talked down to us about supply and demand when their mates were gouging us but has switched to lecturing us about our patriotic duties now that we’ve been high-tailing it to shop in foreign parts (you know, Newry).

– In the meantime, as though retail did not have enough problems, Gerard has found a piece of social legislation which he thinks is putting severe restrictions on the amount of money local business can make (and presumably the amount of jobs they can offer): double time on a Sunday. He concludes:

The bottom line is that we need to rapidly dismantle the straightjacket of partnership-inspired labour market madess: while we still have ‘responsible’ employers willing to hire staff and meet their customers’ needs.

– And Splintered shakes his head in untypically laconic disbelief at the puff PR the FM and DFM over the X Factor runner up Eoghan Quigg…

– Johnny is highly sceptical of treating a forum as a branch when it comes to the new highly localised initiative in South Armagh… Nothing Slugger has heard indicates the party is focused on anything other than getting itself and the Republic through what’s looking like a very sticky economic mess…

– The Irish Blog Awards have removed themselves to Cork this year; specifically to the hotel out by the new Airport terminal… 200 registered so far, so if you are going you’d need to get your skates on… Damien’s looking for some crowd wisdom on the categories: looking new ones, and suggestions for older ones that need taking out and shooting…

– Chekov notes moves by the Scottish Government to make Scottish and British mutually exclusive in the ethnicity section of the 2011 Census…

– Staff at Bob Balls thinks that Syliva Hermon may be the only one her party that’s shown some strategic nouse in steering clear of the Tories, now Com Res shows Labour pulling to within a single point of the Conservatives… My advice to Campaign Headquarters at Millbank for what it’s worth: don’t be driven by your aggressively impatient bloggers

– Shuggy has a great post ostensibly focused on the recent civil disobedience campaign at Stansted Airport, but it turns quickly into a useful critique of generic forms of Direct Action. Not the problem of bring proportion action to the nature of the problem in the first place…

– Connall celebrates a nice piece of Eco-commercial economic success

– And finally, Fabius Maximus reminds us why learning from history is profitable

  • Jean Baudrillard

    Interesting (as always) blog entry by Robert Peston today noting that £1 TRILLION of company debt is due to be repaid in 2009.

    Simply put: there is nowhere near enough money in the markets to fund this level of debt and as a result a whole swathe of the real economy is under threat. I assume this will be no less true of the Repubilc.

    The only solution appears to be Government stepping in to (in effect) nationalise much of the private sector – by extending credit.

    The death of the neo-liberal model seems likes its going to be a painful, bloody, long drawn out process. Nasty days lie ahead….

  • Greenflag

    ‘Nasty days lie ahead..’

    The fit has yet to hit the shan 🙁 Goodbye Sterling etc etc )

    And now that Bernard Madoff has made off with a 50 billion dollar hedge fund of hedge fund ‘pozi scheme we can only feel ‘sorrow’ for the Santander Bank and the Swiss banks not to mention the Dublin and London investment companies that succumbed to the ‘rich ‘ promises of Bernard (I don’t talk dirctly to my clients) Madoff . Members of the exclusive Palm Beach Jewish Social club of which Madoff was a prominent member are aghast at the revelations . Bernard was such a nice guy -former Chairman of Nasdaq etc etc . He just would’nt accept ‘dirty money’ i.e would be investors had to wear suits and ties and represent ‘clean ‘money . No gritty ‘garbage millionaires ‘ or fast food merchants for Mr Madoff. The fact that the SEC issued a report in 1999 stating that Mr Madoff’s returns on his investments were just too good to be true apparently raised no concerns. Added to the Lehman’s , Bear Sterns, Merrill Lynch’s , AIG , Fannie Mae and Freddie Mac , AIG fiascos and now the US Auto Industry and it’s beginning ( sick joke ) to look like the entire American middle class has been taken to the cleaners in the biggest financial heist of all time .

    If Americans copied the latest Iraqi fad of throwing their shoes at disreputable foreign politicians and instead took up the habit at flinging said shoes at the neo con thieves of Wall St and Washington – America would be shoeless 🙁

    No doubt most of Madoff’s his ill gotten gains are probably long since converted into gold bullion in unnamed Swiss Bank accounts .

    The USA seriously needs to bring in a mandatory death sentence for thievery and public corruption of this ilk.

    As for Ireland- We had better start electing politicians who understand how the world works and not a bunch of lower division short sighted snout shovellers wallowing in the trough of Wall St leftovers 🙁