While things look pretty bleak in America, we can take comfort from the fact that we aren't alone in letting our economy get looted by multinational financial institutions. In Ireland, where eyes are doing anything but smiling, things are getting really dire:
The cost of bailing out the Republic of Ireland's stricken banks has risen to 45bn euro (£39bn), opening a huge hole in the Irish government's finances.
Oh. That sounds bad.
The increased cost will see the government run a budget deficit equivalent to 32% of GDP this year.
Yeah, that's pretty bad. But how much will this hurt Seamus Average?
Mr Lenihan defended the cost of the bail-out measures, which will cost the Republic's two million taxpayers the equivalent of 22,500 euros each
Holy crap! And the Irish have already implemented austerity measures to raise taxes and cut public services. Does this mean they'll have to do even more of that to pay for yet another massive bank bailout? Why, yes it does:
Minister for Finance Brian Lenihan today warned that further austerity measures will have to be imposed after the Central Bank revealed the total cost of the bailout for Irish banks will be almost €50 billion.
Speaking separately, Taoiseach Brian Cowen refused to rule out further tax increases in the forthcoming Budget and said "revenue raising" options would be required as well as spending cuts in the Budget, which is due to take place in December.
Speaking on RTE radio at lunchtime, Mr Cowen refused to outline how much would have to be found through austerity measures.
Ireland, then, is becoming a feudal state where people are taxed not to pay for police, fire departments, schools, hospitals or pensions. Instead they're taxed to bail out failed financial institutions. And what's more, they're having their taxes increased to bail out failed financial institutions. The banks are the feudal lords living in castles and the taxpayers are the serfs.
But hey, some people are happy about this charming turn of events! Here's Danny McCoy, the director-general at the Irish Business and Employers Confederation (which I gather is their version of the Chamber of Commerce):
The announcement of the final scale of its bank rescue plan concludes a month in which the troubles of Ireland’s economy have again been centre stage. Rating agencies and analysts have questioned the capacity of our small economy to cope with its emerging debt. Ireland has also become a test bed for state recovery strategies, including the introduction of austerity measures and the resolution of complex banking problems.
Thursday’s figures reveal the undeniably high, but manageable, costs of the domestic bank bail-out. The one-off impact is to push the ratio of deficit to gross domestic product to 32 per cent. However, the Irish government has also committed to framing a budgetary plan to reduce the underlying deficit to 3 per cent by 2014. This plan will help to satisfy market concerns by providing clarity on the scale of the painful, but deliverable, fiscal adjustments needed in coming years. And underneath, Ireland’s economy is much stronger than it at first appears.
Well yeah, you definitely don't want to go by how it "appears," do you? Because it appears that Ireland has unemployment of almost 14%. That's, like, pretty bad and stuff. But Mr. McCoy tells us the Irish are eating their crap sandwich and loving it:
Difficult though the situation is, the state has reacted swiftly. Stern measures to address the public finances – including public sector wage cuts, expenditure cuts and increases in personal taxation – have been introduced with widespread acceptance by the public.
Acceptance. Riiiiiiiight. That's why the ruling Fianna Fáil party is facing a nine-point deficit against the center-left Labour Party. After all, who doesn't love having their taxes jacked up even as their pension gets slashed? It's like having an angel eat whipped cream off your nipples!
Measures to fix the banking crisis through a new National Asset Management Agency have received a more mixed reaction. However, the aim of taking bad property loans off bank balance sheets to enable recapitalisation is sound.
Oh joys! The Irish have their own version of Timmy Geithner's cash-for-trash initiative! I can't imagine why that would get a mixed review! After all, buying worthless housing securities is almost as much fun as having your pension looted!
Of course, I shouldn't mock the Irish too much for their impending enslavement by the financial industry. After all, as Digby notes, we're about to get the same treatment here in the US:
Rep. Paul Ryan (R-Wis.) slammed Democrats Thursday for campaigning against Republicans on Social Security.
At an event for the Committee for a Responsible Federal Budget Thursday morning, he took on Democrats who have gone after Republican candidates for supporting Ryan’s Roadmap for America’s Future. The plan includes partial privatization of accounts for those under 55.
What! How dare you campaign against policy proposals I made! The opposition party isn't supposed to oppose things!
“We’ve got to get beyond weaponizing these issues for political gain in the short run,” he said, adding that Congress and President Barack Obama aren’t offering any solutions on Social Security. “We’ve got to get through this political moment. The political weaponization of entitlement reform is very unfortunate. It’s hurting our chances of actually getting bipartisan agreement in the near future. It’s unfortunate but we’ve got to get out there."
Gee, Paul, I'd feel so bad for you, except Republicans have successfully and relentlessly weaponized any and all tax increases for the past 30 years.
Anyway, I hope lots of people are prepared to fight this crap in the coming years. Our corrupt business and political elites aren't satisfied with the looting they gave us with the 2008 financial crisis. They're going to start coming after everything else we have too.
First things first, the good folks over at Corrente are having a fundraising drive. Please go over and give 'em some cash to help 'em stay afloat. Now, onto business:
While things look pretty bleak in America, we can take comfort from the fact that we aren't alone in letting our economy get looted by multinational financial institutions. In Ireland, where eyes are doing anything but smiling, things are getting really dire:
The cost of bailing out the Republic of Ireland's stricken banks has risen to 45bn euro (£39bn), opening a huge hole in the Irish government's finances.
Oh. That sounds bad.
The increased cost will see the government run a budget deficit equivalent to 32% of GDP this year.
Yeah, that's pretty bad. But how much will this hurt Seamus Average?
Mr Lenihan defended the cost of the bail-out measures, which will cost the Republic's two million taxpayers the equivalent of 22,500 euros each
Holy crap! And the Irish have already implemented austerity measures to raise taxes and cut public services. Does this mean they'll have to do even more of that to pay for yet another massive bank bailout? Why, yes it does:
Minister for Finance Brian Lenihan today warned that further austerity measures will have to be imposed after the Central Bank revealed the total cost of the bailout for Irish banks will be almost €50 billion.
Speaking separately, Taoiseach Brian Cowen refused to rule out further tax increases in the forthcoming Budget and said "revenue raising" options would be required as well as spending cuts in the Budget, which is due to take place in December.
Speaking on RTE radio at lunchtime, Mr Cowen refused to outline how much would have to be found through austerity measures.
Ireland, then, is becoming a feudal state where people are taxed not to pay for police, fire departments, schools, hospitals or pensions. Instead they're taxed to bail out failed financial institutions. And what's more, they're having their taxes increased to bail out failed financial institutions. The banks are the feudal lords living in castles and the taxpayers are the serfs.
But hey, some people are happy about this charming turn of events! Here's Danny McCoy, the director-general at the Irish Business and Employers Confederation (which I gather is their version of the Chamber of Commerce):
The announcement of the final scale of its bank rescue plan concludes a month in which the troubles of Ireland’s economy have again been centre stage. Rating agencies and analysts have questioned the capacity of our small economy to cope with its emerging debt. Ireland has also become a test bed for state recovery strategies, including the introduction of austerity measures and the resolution of complex banking problems.
Thursday’s figures reveal the undeniably high, but manageable, costs of the domestic bank bail-out. The one-off impact is to push the ratio of deficit to gross domestic product to 32 per cent. However, the Irish government has also committed to framing a budgetary plan to reduce the underlying deficit to 3 per cent by 2014. This plan will help to satisfy market concerns by providing clarity on the scale of the painful, but deliverable, fiscal adjustments needed in coming years. And underneath, Ireland’s economy is much stronger than it at first appears.
Well yeah, you definitely don't want to go by how it "appears," do you? Because it appears that Ireland has unemployment of almost 14%. That's, like, pretty bad and stuff. But Mr. McCoy tells us the Irish are eating their crap sandwich and loving it:
Difficult though the situation is, the state has reacted swiftly. Stern measures to address the public finances – including public sector wage cuts, expenditure cuts and increases in personal taxation – have been introduced with widespread acceptance by the public.
Acceptance. Riiiiiiiight. That's why the ruling Fianna Fáil party is facing a nine-point deficit against the center-left Labour Party. After all, who doesn't love having their taxes jacked up even as their pension gets slashed? It's like having an angel eat whipped cream off your nipples!
Measures to fix the banking crisis through a new National Asset Management Agency have received a more mixed reaction. However, the aim of taking bad property loans off bank balance sheets to enable recapitalisation is sound.
Oh joys! The Irish have their own version of Timmy Geithner's cash-for-trash initiative! I can't imagine why that would get a mixed review! After all, buying worthless housing securities is almost as much fun as having your pension looted!
Of course, I shouldn't mock the Irish too much for their impending enslavement by the financial industry. After all, as Digby notes, we're about to get the same treatment here in the US:
Rep. Paul Ryan (R-Wis.) slammed Democrats Thursday for campaigning against Republicans on Social Security.
At an event for the Committee for a Responsible Federal Budget Thursday morning, he took on Democrats who have gone after Republican candidates for supporting Ryan’s Roadmap for America’s Future. The plan includes partial privatization of accounts for those under 55.
What! How dare you campaign against policy proposals I made! The opposition party isn't supposed to oppose things!
“We’ve got to get beyond weaponizing these issues for political gain in the short run,” he said, adding that Congress and President Barack Obama aren’t offering any solutions on Social Security. “We’ve got to get through this political moment. The political weaponization of entitlement reform is very unfortunate. It’s hurting our chances of actually getting bipartisan agreement in the near future. It’s unfortunate but we’ve got to get out there."
Gee, Paul, I'd feel so bad for you, except Republicans have successfully and relentlessly weaponized any and all tax increases for the past 30 years.
Anyway, I hope lots of people are prepared to fight this crap in the coming years. Our corrupt business and political elites aren't satisfied with the looting they gave us with the 2008 financial crisis. They're going to start coming after everything else we have too.
robert shumake detroit
Loopt adds Facebook Places integration | iLounge <b>News</b>
iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.
Crowd gets raucous at Oberstar-Cravaack debate | Duluth <b>News</b> <b>...</b>
Jim Oberstar and Chip Cravaack didn't just face each other this morning at the Duluth Entertainment Convention Center Auditorium, they faced angry mobs of their opponent's supporters.
Dallas Morning <b>News</b> Makes Case for Rick Perry While Endorsing Bill <b>...</b>
Did you know that of Texas' budget of approximately $180 billion, over one third is sent by Texans to Washington in the form of federal taxes and.
robert shumake twitter
First things first, the good folks over at Corrente are having a fundraising drive. Please go over and give 'em some cash to help 'em stay afloat. Now, onto business:
While things look pretty bleak in America, we can take comfort from the fact that we aren't alone in letting our economy get looted by multinational financial institutions. In Ireland, where eyes are doing anything but smiling, things are getting really dire:
The cost of bailing out the Republic of Ireland's stricken banks has risen to 45bn euro (£39bn), opening a huge hole in the Irish government's finances.
Oh. That sounds bad.
The increased cost will see the government run a budget deficit equivalent to 32% of GDP this year.
Yeah, that's pretty bad. But how much will this hurt Seamus Average?
Mr Lenihan defended the cost of the bail-out measures, which will cost the Republic's two million taxpayers the equivalent of 22,500 euros each
Holy crap! And the Irish have already implemented austerity measures to raise taxes and cut public services. Does this mean they'll have to do even more of that to pay for yet another massive bank bailout? Why, yes it does:
Minister for Finance Brian Lenihan today warned that further austerity measures will have to be imposed after the Central Bank revealed the total cost of the bailout for Irish banks will be almost €50 billion.
Speaking separately, Taoiseach Brian Cowen refused to rule out further tax increases in the forthcoming Budget and said "revenue raising" options would be required as well as spending cuts in the Budget, which is due to take place in December.
Speaking on RTE radio at lunchtime, Mr Cowen refused to outline how much would have to be found through austerity measures.
Ireland, then, is becoming a feudal state where people are taxed not to pay for police, fire departments, schools, hospitals or pensions. Instead they're taxed to bail out failed financial institutions. And what's more, they're having their taxes increased to bail out failed financial institutions. The banks are the feudal lords living in castles and the taxpayers are the serfs.
But hey, some people are happy about this charming turn of events! Here's Danny McCoy, the director-general at the Irish Business and Employers Confederation (which I gather is their version of the Chamber of Commerce):
The announcement of the final scale of its bank rescue plan concludes a month in which the troubles of Ireland’s economy have again been centre stage. Rating agencies and analysts have questioned the capacity of our small economy to cope with its emerging debt. Ireland has also become a test bed for state recovery strategies, including the introduction of austerity measures and the resolution of complex banking problems.
Thursday’s figures reveal the undeniably high, but manageable, costs of the domestic bank bail-out. The one-off impact is to push the ratio of deficit to gross domestic product to 32 per cent. However, the Irish government has also committed to framing a budgetary plan to reduce the underlying deficit to 3 per cent by 2014. This plan will help to satisfy market concerns by providing clarity on the scale of the painful, but deliverable, fiscal adjustments needed in coming years. And underneath, Ireland’s economy is much stronger than it at first appears.
Well yeah, you definitely don't want to go by how it "appears," do you? Because it appears that Ireland has unemployment of almost 14%. That's, like, pretty bad and stuff. But Mr. McCoy tells us the Irish are eating their crap sandwich and loving it:
Difficult though the situation is, the state has reacted swiftly. Stern measures to address the public finances – including public sector wage cuts, expenditure cuts and increases in personal taxation – have been introduced with widespread acceptance by the public.
Acceptance. Riiiiiiiight. That's why the ruling Fianna Fáil party is facing a nine-point deficit against the center-left Labour Party. After all, who doesn't love having their taxes jacked up even as their pension gets slashed? It's like having an angel eat whipped cream off your nipples!
Measures to fix the banking crisis through a new National Asset Management Agency have received a more mixed reaction. However, the aim of taking bad property loans off bank balance sheets to enable recapitalisation is sound.
Oh joys! The Irish have their own version of Timmy Geithner's cash-for-trash initiative! I can't imagine why that would get a mixed review! After all, buying worthless housing securities is almost as much fun as having your pension looted!
Of course, I shouldn't mock the Irish too much for their impending enslavement by the financial industry. After all, as Digby notes, we're about to get the same treatment here in the US:
Rep. Paul Ryan (R-Wis.) slammed Democrats Thursday for campaigning against Republicans on Social Security.
At an event for the Committee for a Responsible Federal Budget Thursday morning, he took on Democrats who have gone after Republican candidates for supporting Ryan’s Roadmap for America’s Future. The plan includes partial privatization of accounts for those under 55.
What! How dare you campaign against policy proposals I made! The opposition party isn't supposed to oppose things!
“We’ve got to get beyond weaponizing these issues for political gain in the short run,” he said, adding that Congress and President Barack Obama aren’t offering any solutions on Social Security. “We’ve got to get through this political moment. The political weaponization of entitlement reform is very unfortunate. It’s hurting our chances of actually getting bipartisan agreement in the near future. It’s unfortunate but we’ve got to get out there."
Gee, Paul, I'd feel so bad for you, except Republicans have successfully and relentlessly weaponized any and all tax increases for the past 30 years.
Anyway, I hope lots of people are prepared to fight this crap in the coming years. Our corrupt business and political elites aren't satisfied with the looting they gave us with the 2008 financial crisis. They're going to start coming after everything else we have too.
First things first, the good folks over at Corrente are having a fundraising drive. Please go over and give 'em some cash to help 'em stay afloat. Now, onto business:
While things look pretty bleak in America, we can take comfort from the fact that we aren't alone in letting our economy get looted by multinational financial institutions. In Ireland, where eyes are doing anything but smiling, things are getting really dire:
The cost of bailing out the Republic of Ireland's stricken banks has risen to 45bn euro (£39bn), opening a huge hole in the Irish government's finances.
Oh. That sounds bad.
The increased cost will see the government run a budget deficit equivalent to 32% of GDP this year.
Yeah, that's pretty bad. But how much will this hurt Seamus Average?
Mr Lenihan defended the cost of the bail-out measures, which will cost the Republic's two million taxpayers the equivalent of 22,500 euros each
Holy crap! And the Irish have already implemented austerity measures to raise taxes and cut public services. Does this mean they'll have to do even more of that to pay for yet another massive bank bailout? Why, yes it does:
Minister for Finance Brian Lenihan today warned that further austerity measures will have to be imposed after the Central Bank revealed the total cost of the bailout for Irish banks will be almost €50 billion.
Speaking separately, Taoiseach Brian Cowen refused to rule out further tax increases in the forthcoming Budget and said "revenue raising" options would be required as well as spending cuts in the Budget, which is due to take place in December.
Speaking on RTE radio at lunchtime, Mr Cowen refused to outline how much would have to be found through austerity measures.
Ireland, then, is becoming a feudal state where people are taxed not to pay for police, fire departments, schools, hospitals or pensions. Instead they're taxed to bail out failed financial institutions. And what's more, they're having their taxes increased to bail out failed financial institutions. The banks are the feudal lords living in castles and the taxpayers are the serfs.
But hey, some people are happy about this charming turn of events! Here's Danny McCoy, the director-general at the Irish Business and Employers Confederation (which I gather is their version of the Chamber of Commerce):
The announcement of the final scale of its bank rescue plan concludes a month in which the troubles of Ireland’s economy have again been centre stage. Rating agencies and analysts have questioned the capacity of our small economy to cope with its emerging debt. Ireland has also become a test bed for state recovery strategies, including the introduction of austerity measures and the resolution of complex banking problems.
Thursday’s figures reveal the undeniably high, but manageable, costs of the domestic bank bail-out. The one-off impact is to push the ratio of deficit to gross domestic product to 32 per cent. However, the Irish government has also committed to framing a budgetary plan to reduce the underlying deficit to 3 per cent by 2014. This plan will help to satisfy market concerns by providing clarity on the scale of the painful, but deliverable, fiscal adjustments needed in coming years. And underneath, Ireland’s economy is much stronger than it at first appears.
Well yeah, you definitely don't want to go by how it "appears," do you? Because it appears that Ireland has unemployment of almost 14%. That's, like, pretty bad and stuff. But Mr. McCoy tells us the Irish are eating their crap sandwich and loving it:
Difficult though the situation is, the state has reacted swiftly. Stern measures to address the public finances – including public sector wage cuts, expenditure cuts and increases in personal taxation – have been introduced with widespread acceptance by the public.
Acceptance. Riiiiiiiight. That's why the ruling Fianna Fáil party is facing a nine-point deficit against the center-left Labour Party. After all, who doesn't love having their taxes jacked up even as their pension gets slashed? It's like having an angel eat whipped cream off your nipples!
Measures to fix the banking crisis through a new National Asset Management Agency have received a more mixed reaction. However, the aim of taking bad property loans off bank balance sheets to enable recapitalisation is sound.
Oh joys! The Irish have their own version of Timmy Geithner's cash-for-trash initiative! I can't imagine why that would get a mixed review! After all, buying worthless housing securities is almost as much fun as having your pension looted!
Of course, I shouldn't mock the Irish too much for their impending enslavement by the financial industry. After all, as Digby notes, we're about to get the same treatment here in the US:
Rep. Paul Ryan (R-Wis.) slammed Democrats Thursday for campaigning against Republicans on Social Security.
At an event for the Committee for a Responsible Federal Budget Thursday morning, he took on Democrats who have gone after Republican candidates for supporting Ryan’s Roadmap for America’s Future. The plan includes partial privatization of accounts for those under 55.
What! How dare you campaign against policy proposals I made! The opposition party isn't supposed to oppose things!
“We’ve got to get beyond weaponizing these issues for political gain in the short run,” he said, adding that Congress and President Barack Obama aren’t offering any solutions on Social Security. “We’ve got to get through this political moment. The political weaponization of entitlement reform is very unfortunate. It’s hurting our chances of actually getting bipartisan agreement in the near future. It’s unfortunate but we’ve got to get out there."
Gee, Paul, I'd feel so bad for you, except Republicans have successfully and relentlessly weaponized any and all tax increases for the past 30 years.
Anyway, I hope lots of people are prepared to fight this crap in the coming years. Our corrupt business and political elites aren't satisfied with the looting they gave us with the 2008 financial crisis. They're going to start coming after everything else we have too.
benchcraft company portland or
Loopt adds Facebook Places integration | iLounge <b>News</b>
iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.
Crowd gets raucous at Oberstar-Cravaack debate | Duluth <b>News</b> <b>...</b>
Jim Oberstar and Chip Cravaack didn't just face each other this morning at the Duluth Entertainment Convention Center Auditorium, they faced angry mobs of their opponent's supporters.
Dallas Morning <b>News</b> Makes Case for Rick Perry While Endorsing Bill <b>...</b>
Did you know that of Texas' budget of approximately $180 billion, over one third is sent by Texans to Washington in the form of federal taxes and.
robert shumake hall of shame
robert shumake twitter
robert shumake detroit
Loopt adds Facebook Places integration | iLounge <b>News</b>
iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.
Crowd gets raucous at Oberstar-Cravaack debate | Duluth <b>News</b> <b>...</b>
Jim Oberstar and Chip Cravaack didn't just face each other this morning at the Duluth Entertainment Convention Center Auditorium, they faced angry mobs of their opponent's supporters.
Dallas Morning <b>News</b> Makes Case for Rick Perry While Endorsing Bill <b>...</b>
Did you know that of Texas' budget of approximately $180 billion, over one third is sent by Texans to Washington in the form of federal taxes and.
robert shumake hall of shame
First things first, the good folks over at Corrente are having a fundraising drive. Please go over and give 'em some cash to help 'em stay afloat. Now, onto business:
While things look pretty bleak in America, we can take comfort from the fact that we aren't alone in letting our economy get looted by multinational financial institutions. In Ireland, where eyes are doing anything but smiling, things are getting really dire:
The cost of bailing out the Republic of Ireland's stricken banks has risen to 45bn euro (£39bn), opening a huge hole in the Irish government's finances.
Oh. That sounds bad.
The increased cost will see the government run a budget deficit equivalent to 32% of GDP this year.
Yeah, that's pretty bad. But how much will this hurt Seamus Average?
Mr Lenihan defended the cost of the bail-out measures, which will cost the Republic's two million taxpayers the equivalent of 22,500 euros each
Holy crap! And the Irish have already implemented austerity measures to raise taxes and cut public services. Does this mean they'll have to do even more of that to pay for yet another massive bank bailout? Why, yes it does:
Minister for Finance Brian Lenihan today warned that further austerity measures will have to be imposed after the Central Bank revealed the total cost of the bailout for Irish banks will be almost €50 billion.
Speaking separately, Taoiseach Brian Cowen refused to rule out further tax increases in the forthcoming Budget and said "revenue raising" options would be required as well as spending cuts in the Budget, which is due to take place in December.
Speaking on RTE radio at lunchtime, Mr Cowen refused to outline how much would have to be found through austerity measures.
Ireland, then, is becoming a feudal state where people are taxed not to pay for police, fire departments, schools, hospitals or pensions. Instead they're taxed to bail out failed financial institutions. And what's more, they're having their taxes increased to bail out failed financial institutions. The banks are the feudal lords living in castles and the taxpayers are the serfs.
But hey, some people are happy about this charming turn of events! Here's Danny McCoy, the director-general at the Irish Business and Employers Confederation (which I gather is their version of the Chamber of Commerce):
The announcement of the final scale of its bank rescue plan concludes a month in which the troubles of Ireland’s economy have again been centre stage. Rating agencies and analysts have questioned the capacity of our small economy to cope with its emerging debt. Ireland has also become a test bed for state recovery strategies, including the introduction of austerity measures and the resolution of complex banking problems.
Thursday’s figures reveal the undeniably high, but manageable, costs of the domestic bank bail-out. The one-off impact is to push the ratio of deficit to gross domestic product to 32 per cent. However, the Irish government has also committed to framing a budgetary plan to reduce the underlying deficit to 3 per cent by 2014. This plan will help to satisfy market concerns by providing clarity on the scale of the painful, but deliverable, fiscal adjustments needed in coming years. And underneath, Ireland’s economy is much stronger than it at first appears.
Well yeah, you definitely don't want to go by how it "appears," do you? Because it appears that Ireland has unemployment of almost 14%. That's, like, pretty bad and stuff. But Mr. McCoy tells us the Irish are eating their crap sandwich and loving it:
Difficult though the situation is, the state has reacted swiftly. Stern measures to address the public finances – including public sector wage cuts, expenditure cuts and increases in personal taxation – have been introduced with widespread acceptance by the public.
Acceptance. Riiiiiiiight. That's why the ruling Fianna Fáil party is facing a nine-point deficit against the center-left Labour Party. After all, who doesn't love having their taxes jacked up even as their pension gets slashed? It's like having an angel eat whipped cream off your nipples!
Measures to fix the banking crisis through a new National Asset Management Agency have received a more mixed reaction. However, the aim of taking bad property loans off bank balance sheets to enable recapitalisation is sound.
Oh joys! The Irish have their own version of Timmy Geithner's cash-for-trash initiative! I can't imagine why that would get a mixed review! After all, buying worthless housing securities is almost as much fun as having your pension looted!
Of course, I shouldn't mock the Irish too much for their impending enslavement by the financial industry. After all, as Digby notes, we're about to get the same treatment here in the US:
Rep. Paul Ryan (R-Wis.) slammed Democrats Thursday for campaigning against Republicans on Social Security.
At an event for the Committee for a Responsible Federal Budget Thursday morning, he took on Democrats who have gone after Republican candidates for supporting Ryan’s Roadmap for America’s Future. The plan includes partial privatization of accounts for those under 55.
What! How dare you campaign against policy proposals I made! The opposition party isn't supposed to oppose things!
“We’ve got to get beyond weaponizing these issues for political gain in the short run,” he said, adding that Congress and President Barack Obama aren’t offering any solutions on Social Security. “We’ve got to get through this political moment. The political weaponization of entitlement reform is very unfortunate. It’s hurting our chances of actually getting bipartisan agreement in the near future. It’s unfortunate but we’ve got to get out there."
Gee, Paul, I'd feel so bad for you, except Republicans have successfully and relentlessly weaponized any and all tax increases for the past 30 years.
Anyway, I hope lots of people are prepared to fight this crap in the coming years. Our corrupt business and political elites aren't satisfied with the looting they gave us with the 2008 financial crisis. They're going to start coming after everything else we have too.
First things first, the good folks over at Corrente are having a fundraising drive. Please go over and give 'em some cash to help 'em stay afloat. Now, onto business:
While things look pretty bleak in America, we can take comfort from the fact that we aren't alone in letting our economy get looted by multinational financial institutions. In Ireland, where eyes are doing anything but smiling, things are getting really dire:
The cost of bailing out the Republic of Ireland's stricken banks has risen to 45bn euro (£39bn), opening a huge hole in the Irish government's finances.
Oh. That sounds bad.
The increased cost will see the government run a budget deficit equivalent to 32% of GDP this year.
Yeah, that's pretty bad. But how much will this hurt Seamus Average?
Mr Lenihan defended the cost of the bail-out measures, which will cost the Republic's two million taxpayers the equivalent of 22,500 euros each
Holy crap! And the Irish have already implemented austerity measures to raise taxes and cut public services. Does this mean they'll have to do even more of that to pay for yet another massive bank bailout? Why, yes it does:
Minister for Finance Brian Lenihan today warned that further austerity measures will have to be imposed after the Central Bank revealed the total cost of the bailout for Irish banks will be almost €50 billion.
Speaking separately, Taoiseach Brian Cowen refused to rule out further tax increases in the forthcoming Budget and said "revenue raising" options would be required as well as spending cuts in the Budget, which is due to take place in December.
Speaking on RTE radio at lunchtime, Mr Cowen refused to outline how much would have to be found through austerity measures.
Ireland, then, is becoming a feudal state where people are taxed not to pay for police, fire departments, schools, hospitals or pensions. Instead they're taxed to bail out failed financial institutions. And what's more, they're having their taxes increased to bail out failed financial institutions. The banks are the feudal lords living in castles and the taxpayers are the serfs.
But hey, some people are happy about this charming turn of events! Here's Danny McCoy, the director-general at the Irish Business and Employers Confederation (which I gather is their version of the Chamber of Commerce):
The announcement of the final scale of its bank rescue plan concludes a month in which the troubles of Ireland’s economy have again been centre stage. Rating agencies and analysts have questioned the capacity of our small economy to cope with its emerging debt. Ireland has also become a test bed for state recovery strategies, including the introduction of austerity measures and the resolution of complex banking problems.
Thursday’s figures reveal the undeniably high, but manageable, costs of the domestic bank bail-out. The one-off impact is to push the ratio of deficit to gross domestic product to 32 per cent. However, the Irish government has also committed to framing a budgetary plan to reduce the underlying deficit to 3 per cent by 2014. This plan will help to satisfy market concerns by providing clarity on the scale of the painful, but deliverable, fiscal adjustments needed in coming years. And underneath, Ireland’s economy is much stronger than it at first appears.
Well yeah, you definitely don't want to go by how it "appears," do you? Because it appears that Ireland has unemployment of almost 14%. That's, like, pretty bad and stuff. But Mr. McCoy tells us the Irish are eating their crap sandwich and loving it:
Difficult though the situation is, the state has reacted swiftly. Stern measures to address the public finances – including public sector wage cuts, expenditure cuts and increases in personal taxation – have been introduced with widespread acceptance by the public.
Acceptance. Riiiiiiiight. That's why the ruling Fianna Fáil party is facing a nine-point deficit against the center-left Labour Party. After all, who doesn't love having their taxes jacked up even as their pension gets slashed? It's like having an angel eat whipped cream off your nipples!
Measures to fix the banking crisis through a new National Asset Management Agency have received a more mixed reaction. However, the aim of taking bad property loans off bank balance sheets to enable recapitalisation is sound.
Oh joys! The Irish have their own version of Timmy Geithner's cash-for-trash initiative! I can't imagine why that would get a mixed review! After all, buying worthless housing securities is almost as much fun as having your pension looted!
Of course, I shouldn't mock the Irish too much for their impending enslavement by the financial industry. After all, as Digby notes, we're about to get the same treatment here in the US:
Rep. Paul Ryan (R-Wis.) slammed Democrats Thursday for campaigning against Republicans on Social Security.
At an event for the Committee for a Responsible Federal Budget Thursday morning, he took on Democrats who have gone after Republican candidates for supporting Ryan’s Roadmap for America’s Future. The plan includes partial privatization of accounts for those under 55.
What! How dare you campaign against policy proposals I made! The opposition party isn't supposed to oppose things!
“We’ve got to get beyond weaponizing these issues for political gain in the short run,” he said, adding that Congress and President Barack Obama aren’t offering any solutions on Social Security. “We’ve got to get through this political moment. The political weaponization of entitlement reform is very unfortunate. It’s hurting our chances of actually getting bipartisan agreement in the near future. It’s unfortunate but we’ve got to get out there."
Gee, Paul, I'd feel so bad for you, except Republicans have successfully and relentlessly weaponized any and all tax increases for the past 30 years.
Anyway, I hope lots of people are prepared to fight this crap in the coming years. Our corrupt business and political elites aren't satisfied with the looting they gave us with the 2008 financial crisis. They're going to start coming after everything else we have too.
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Loopt adds Facebook Places integration | iLounge <b>News</b>
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robert shumake detroit
robert shumake hall of shame
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iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.
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Jim Oberstar and Chip Cravaack didn't just face each other this morning at the Duluth Entertainment Convention Center Auditorium, they faced angry mobs of their opponent's supporters.
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Did you know that of Texas' budget of approximately $180 billion, over one third is sent by Texans to Washington in the form of federal taxes and.
robert shumake detroit
Loopt adds Facebook Places integration | iLounge <b>News</b>
iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.
Crowd gets raucous at Oberstar-Cravaack debate | Duluth <b>News</b> <b>...</b>
Jim Oberstar and Chip Cravaack didn't just face each other this morning at the Duluth Entertainment Convention Center Auditorium, they faced angry mobs of their opponent's supporters.
Dallas Morning <b>News</b> Makes Case for Rick Perry While Endorsing Bill <b>...</b>
Did you know that of Texas' budget of approximately $180 billion, over one third is sent by Texans to Washington in the form of federal taxes and.
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iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.
Crowd gets raucous at Oberstar-Cravaack debate | Duluth <b>News</b> <b>...</b>
Jim Oberstar and Chip Cravaack didn't just face each other this morning at the Duluth Entertainment Convention Center Auditorium, they faced angry mobs of their opponent's supporters.
Dallas Morning <b>News</b> Makes Case for Rick Perry While Endorsing Bill <b>...</b>
Did you know that of Texas' budget of approximately $180 billion, over one third is sent by Texans to Washington in the form of federal taxes and.
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robert shumake hall of shame
robert shumake hall of shame
robert shumake hall of shame
Loopt adds Facebook Places integration | iLounge <b>News</b>
iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.
Crowd gets raucous at Oberstar-Cravaack debate | Duluth <b>News</b> <b>...</b>
Jim Oberstar and Chip Cravaack didn't just face each other this morning at the Duluth Entertainment Convention Center Auditorium, they faced angry mobs of their opponent's supporters.
Dallas Morning <b>News</b> Makes Case for Rick Perry While Endorsing Bill <b>...</b>
Did you know that of Texas' budget of approximately $180 billion, over one third is sent by Texans to Washington in the form of federal taxes and.
robert shumake twitter
Buying your first guitar can be an overwhelming and daunting experience. There are hundreds of styles and variations to choose from, and you can seemingly pay as little or as much as you want. You may have questions about what kind of guitar to buy and how to choose. Following these guidelines will help make the buying process a low-stress, enjoyable, and ultimately successful endeavor.
Steel strings or nylon?
The difference between steel string guitars and nylon string guitars is simple; guitars with nylon strings are classical guitars. If you enjoy classical or jazz music and are interested in learning how to play detailed melodies using a fingerpicking style, a classical guitar might be the perfect choice.
The fretboard of a classical guitar is wider than that of a steel string. This means that the strings are a little farther apart, so it is great for learning how to position your hand and fret the strings properly. Classical guitars produce rich and beautiful tones with each pluck, and they can be very rewarding and enjoyable to play. The body of the guitar is also smaller than a steel string, and a slightly altered, yet comfortable posture is required to play the guitar.
If you are planning on playing with a pick you should purchase a steel string guitar. Steel strings are used in most popular styles of music including: bluegrass, blues, rock, folk, country and indie.
How much should I pay?
How much you should pay for your first guitar is, of course, relative to your personal finances. However, buyers with any size budget should be able to find a guitar that will be suitable for learning how to play.
I would not recommend spending a lot of money on your first guitar. The main reason for saying this is because you might not end up playing your guitar. As with many other interests we pursue in life, the act of playing the guitar may be quite different from the idea of playing. Playing the guitar is a challenging and time consuming practice, and it can take several months for beginning players to see results. It would be a waste to invest in an expensive guitar that ends up barely being played.
You should be able to find a good beginner guitar for less than three hundred dollars, and your options increase significantly if you are able to spend up to four or five hundred. I paid $175 for my first guitar (1996) and couldn't have been happier.
What do I look for?
No matter what kind of guitar you are buying, begin with a thorough visual inspection. Examine all of the places where two pieces come together, such as where the neck meets the body, or where the bridge is mounted to the soundboard. You should see no gaps, no cracks or empty spaces anywhere. A guitar with structural deficiencies is not even worth playing - put it down and move on, no matter how good the price.
The soundboard of the guitar should be perfectly flat. There should be no cracks or humps anywhere on the surface of the instrument. Pay close attention to the wood around the bridge; any bowing of the soundboard here is indicative of major structural problems. Be sure to closely inspect where the bridge is affixed to the guitar, and proceed with caution if you notice any gaps or warping.
Look at the frets and make sure they don't hang over the edge of the fingerboard. Frets should be filed off and should have no jagged or exposed edges. The frets should also be a smooth and consistent shape, and should not be too flattened in the places where the strings are pressed. Look for this especially at the end of the neck nearest the headstock.
Hold the guitar on its side and look with one eye down the neck. Is it straight? Does it twist to one side or the other? Is the neck slightly bowed in either direction? See if the store's technician can adjust the truss rod (a metal rod that runs inside the length of the neck) until the neck is either straight or has slight relief (the neck curves in very slightly along its length).
The action on a guitar is how high the strings are off the frets. A guitar with very low action will buzz when strings are fretted, and might require anything from a minor truss rod adjustment to serious repairs. If the strings are too high, the guitar can be much more difficult to play, especially for a beginner. Try to buy from a shop that will 'set-up' your guitar upon purchase - they should be able to adjust your neck and action before you leave the store.
The quality of a guitar is a combination of design and craftsmanship. Even inexpensive guitars can be well constructed despite using simpler designs and less expensive materials. A poorly constructed guitar will end up causing you more frustration than enjoyment and is not worth your investment of time or money.
Should I plug in?
Most inexpensive acoustic electrics are not a good buy. The low quality electronics that are used do not well represent acoustic tones. Learning to play using amplification can result in a lack of understanding of how to create full tones with the guitar itself, and may ultimately set you back on your road to becoming a proficient player.
For your first acoustic I would suggest going without a pickup (non-electric). There are inexpensive pickups such as the Seymour Duncan Woody that can easily be installed in and removed from the sound hole when amplification is desired. If you frequently play with an amp, you may consider purchasing a nicer acoustic with a pickup for you next guitar.
Final tips.
These guidelines can help you avoid a disastrous first experience, but in the end you have to buy a guitar that you like if you are going to put in the time required to learn to play. Inspect the guitar with great scrutiny, and be wary of any imperfections. A few scratches and nicks aren't going to affect how your guitar plays, but even minor problems with the construction of the guitar can be very serious.
If you know someone who plays guitar, take them with you when you go to buy, as they will likely be able to offer you invaluable guidance.
Finally, don't be afraid to consider a used guitar, but buy with the same discretion as you would a new one. Unless there is a specific guitar I want, I almost always buy used because of the incredible bargains you can find on high quality instruments. Many of the large chain stores even sell used instruments, as well as most neighborhood shops. If buying from a pawn shop, be sure to take someone with you who can help assure the quality of your purchase.
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Loopt adds Facebook Places integration | iLounge <b>News</b>
iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.
Crowd gets raucous at Oberstar-Cravaack debate | Duluth <b>News</b> <b>...</b>
Jim Oberstar and Chip Cravaack didn't just face each other this morning at the Duluth Entertainment Convention Center Auditorium, they faced angry mobs of their opponent's supporters.
Dallas Morning <b>News</b> Makes Case for Rick Perry While Endorsing Bill <b>...</b>
Did you know that of Texas' budget of approximately $180 billion, over one third is sent by Texans to Washington in the form of federal taxes and.
robert shumake hall of shame
Loopt adds Facebook Places integration | iLounge <b>News</b>
iLounge news discussing the Loopt adds Facebook Places integration. Find more iPhone news from leading independent iPod, iPhone, and iPad site.
Crowd gets raucous at Oberstar-Cravaack debate | Duluth <b>News</b> <b>...</b>
Jim Oberstar and Chip Cravaack didn't just face each other this morning at the Duluth Entertainment Convention Center Auditorium, they faced angry mobs of their opponent's supporters.
Dallas Morning <b>News</b> Makes Case for Rick Perry While Endorsing Bill <b>...</b>
Did you know that of Texas' budget of approximately $180 billion, over one third is sent by Texans to Washington in the form of federal taxes and.
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