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The Saker
A bird's eye view of the vineyard

offsite link Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
Alternative site: https://thesaker.si/saker-a... Site was created using the downloads provided Regards Herb

offsite link The Saker blog is now frozen Tue Feb 28, 2023 23:55 | The Saker
Dear friends As I have previously announced, we are now “freezing” the blog.? We are also making archives of the blog available for free download in various formats (see below).?

offsite link What do you make of the Russia and China Partnership? Tue Feb 28, 2023 16:26 | The Saker
by Mr. Allen for the Saker blog Over the last few years, we hear leaders from both Russia and China pronouncing that they have formed a relationship where there are

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Public Inquiry
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Human Rights in Ireland
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Lockdown Skeptics

The Daily Sceptic

offsite link What a PhD on the ?Politics of Smell? Tells Us About How Elites Use Obscure Woke Gobbledegook to Exc... Fri Dec 20, 2024 07:00 | Steven Tucker
When a PhD on the "politics of smell" trended on X recently it exposed how elites use pretentious woke gobbledegook to exclude the people from power, much like previous generations used Latin and Greek, says Steven Tucker.
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offsite link News Round-Up Fri Dec 20, 2024 01:54 | Richard Eldred
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The post News Round-Up appeared first on The Daily Sceptic.

offsite link White House Covered Up Biden?s Senility From Day One of Presidency Thu Dec 19, 2024 19:00 | Will Jones
The?White House?intentionally hid from the public?Joe Biden's rapidly declining mental condition for his entire Presidency, according to a new report. This from the administration that waged war on misinformation.
The post White House Covered Up Biden’s Senility From Day One of Presidency appeared first on The Daily Sceptic.

offsite link Trans Landowner Sues NHS for Refusing to Carry Out Third Sex Change Surgery Thu Dec 19, 2024 17:00 | Will Jones
A?transgender?Scottish landowner who lives in a ?5m castle is suing the NHS after it refused to carry out a third sex change surgery, claiming negligence, discrimination and a breach of human rights.
The post Trans Landowner Sues NHS for Refusing to Carry Out Third Sex Change Surgery appeared first on The Daily Sceptic.

offsite link Factories Suffer Worst Output Since Covid as Budget Triggers Widespread Cancellations Thu Dec 19, 2024 15:00 | Will Jones
Britain?s factories cut output at the fastest rate since the Covid lockdown as Rachel Reeves?s Budget was blamed for triggering a wave of project cancellations.
The post Factories Suffer Worst Output Since Covid as Budget Triggers Widespread Cancellations appeared first on The Daily Sceptic.

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The deepening crisis of the Irish economy

category national | anti-capitalism | other press author Thursday May 14, 2009 19:00author by Socialism or Barbarismauthor email socialismorb at gmail dot com Report this post to the editors

Article reviewing impact of bank bailout from a marxist perspective.

In this latest post on the Irish economic crisis, Socialism or Barbarism analyses the extent of the impact of the bank bailout and the recession in the real economy and what it will likely mean for the working class.

The Bailout

All the mainstream political parties agreed on the necessity of the bank bail-out package - some wholeheartedly some by using the Thatcherite injunction 'TINA: There Is No Alternative'. In making this decision, the Irish political class collectively signed the Irish taxpayer to cover liabilities of value approximately €440bn (figure supplied by the Financial Times, January 17 2009). This decision represented the greatest transfer of wealth from the working class and petty-bourgeoisie to the nexus of super-wealthy property tycoons and their political friends since the inception of the state itself in 1923.

It remains to be seen whether a run on the banks will expose the full extent of the government's bluff but, irrespective, the losses which the Government have signed up to covering continue to rise. Initially in December 2008 the bailout was quantified at €10bn then, according to Standard and Poors Rating agency it was €20bn in March 2009, then the IMF estimated the exposure to be €24bn in May 2009. In truth, no-one can be sure just how much this is going to cost. Given the scale of the collapse in housing market and the overall value of the sector, it would seem likely that these figures represent gross underestimates of liability.

full at: http://revolutionaryireland.blogspot.com/2009/05/deepen....html

Related Link: http://revolutionaryireland.blogspot.com/2009/05/deepening-crisis-of-irish-economy.html
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