IMPACT backs strike action over pay cuts

RiverWilde

skearon wrote: »

If you opened your eyes you would see a government implementing policies to protect society and the economy.

NAMA is fully approved and supported by the ECB, do you seriously think they would propose spend €50+b if they didnt think the plan would work?

The 'most vunerable', does that incl the 150,000+ who refused to work during a sustained period of full employment?

Work? lol Very Funny! The loans given to the banks will be paid for from borrowings that the Irish taxpayer will have to pay and at the end of the day it won't even make the banks solvent. They'll still be up to their tits in foreign debt! Will they start lending again? Not likely! The only thing nama does is protect the banks and the investors little else.

Riv

skearon

RiverWilde wrote: »

Work? lol Very Funny! The loans given to the banks will be paid for from borrowings that the Irish taxpayer will have to pay and at the end of the day it won't even make the banks solvent. They'll still be up to their tits in foreign debt! Will they start lending again? Not likely! The only thing nama does is protect the banks and the investors little else.

Riv

Utterly wrong - NAMA will be self financing, it doesn't impact the govt's current a/c, nor will it add to the national debt. It will however inject much needed liquidity into the banking system, without which there will be no businesses, no jobs and no taxes.

RiverWilde

skearon wrote: »

Utterly wrong - NAMA will be self financing, it doesn't impact the govt's current a/c, nor will it add to the national debt. It will however inject much needed liquidity into the banking system, without which there will be no businesses, no jobs and no taxes.

Self financing indeed and what price is going to be placed on these toxic debts? A figure based in reality or some pie in the sky notion. I think it'll be the latter. Self-financing or not it is little more than a get out of gaol card for the banks.

Riv

NewDubliner

skearon wrote: »

Utterly wrong - NAMA will be self financing

So why is our government running it? If it's going to make 5bn, why did no private sector company jump at the opportunity to make a few billion from such a low-risk investment opportunity?

thebman

skearon wrote: »

Utterly wrong - NAMA will be self financing, it doesn't impact the govt's current a/c, nor will it add to the national debt. It will however inject much needed liquidity into the banking system, without which there will be no businesses, no jobs and no taxes.

We will have to pay back the money it losses in the end though. Unless the debts of NAMA will die with NAMA when it is in the red after fulfilling its purpose.

And it will be IMO as over demand will lead to house price drop and the standard of buildings is quite poor from boom times and will not meet energy rating standards expected by consumers.

skearon

NewDubliner wrote: »

So why is our government running it? If it's going to make 5bn, why did no private sector company jump at the opportunity to make a few billion from such a low-risk investment opportunity?

Its not no risk, its been done for the good of the economy so any profits should go to the taxpayer. Also a private company would not be able to access ECB funds at the same rate a sovereign government can.

RiverWilde

Good of the economy my arse it sounds more like ... the banks said to the govt. 'bail us out or we'll take you down with us!' There's another word for that and it has nothing to do with the good of the economy.

Why the hell should the govt. buy the banks loan book and get saddled with a load of debts? Debts that will be bought with a totally speculative figure in a market that is still spiralling downwards. Yippeee, there's another word for that sort of transaction as well.

As regards not including the nama bill as part of the countries debts, that sounds rather like hiding the bill under the mattress. Shhhhh, if we dont' mention it the people will forget it's there.

Oh yeah Nama is great.

Riv

jmayo

skearon wrote: »

Utterly wrong - NAMA will be self financing, it doesn't impact the govt's current a/c, nor will it add to the national debt. It will however inject much needed liquidity into the banking system, without which there will be no businesses, no jobs and no taxes.

Congratulations, I have to say your posts have managed to unite posters, who initially were on opposing sides on the debate about impact and whole public versus private sector debate

I am not sure if that was your goal ?

Frankie "landlord sell out our natural resources" Fahy is the only other person I have heard claiming NAMA will bring money into the eocnomy, cost us absolutely nothing and will actually make us a profit.

Oh and for NAMA to make a profit property prices will go back to 2007 levels and the sentiment in the market will have to very positive in order to find some pure numpties to buy the development land languishing outside every oversupplied town in the country.

I despair about this country. :mad::(

NewDubliner

skearon wrote: »

Its not no risk, its been done for the good of the economy

Keeping property prices at artificial levels is 'good for the economy'? Taking multi-billion risk in return for an uncertain and probably tiny return is 'good for the economy'? Deflating the economy to support the investments of a privileged elite is good for the economy?

This might have made sense in the old Fianna-Fail reality, but not now.

What would be good for the economy is to show that failure is not rewarded.

RealityCheck

skearon wrote: »

Also a private company would not be able to access ECB funds at the same rate a sovereign government can.

I thought loaning money to a sovereign government was'nt in the remit of the ECB? They cannot loan directly to the government, but only indirectly through Private banks . As in private banks can, governments cant.

Diarmuid

NewDubliner wrote: »

So why is our government running it? If it's going to make 5bn, why did no private sector company jump at the opportunity to make a few billion from such a low-risk investment opportunity?

Or even better why don't the government even double or triple the size of NAMA? We could pay off our national debt in no time! :rolleyes:

ChewChew

I will be participating in the upcoming strike for the following reasons:

-I am sick to death of private sector workers telling me I am a lazy f*cker who sits on my hole all day every day looking at computer screen, probably browsing the internet all day.
-I feckin wish I was! I'm a clerical grade III who has a ridiculous amount of responsibility for what I do. but I love my job and I do the best to help the people who I have to deal with. I don't have internet access, I don't get a tea break in the morning and I get a half hour lunch break. I work in an office where the windows are broke, there is NO heating whatsoever, we have no running hot water, we have 1 toilet to do 10 women, 3 of us are cramped into what was an old bedroom, we do not have household services therefor we have to clean our own offices, toilet and empty the bins. We get bats in the office every summer and have to deal with the smell of their excrement. We also have cockroach and rodent traps down because yes, we do have them!

-I am 26 years old and I am paying into a pension that I was not given a choice about. I am contractually bound into it which is fine. . . but why the hell am I paying MORE into this pension levy than I am actually paying into my pension? Save yourself some money mister HSE and STOP giving it to new recruits. . . . . oh wait. . . recruitment ban!! that's right. . . . The 2 girls who used to work in my office that left almost 2 years ago handed in their notice and left. . . and they have not been replaced because of your recruitment ban so I am doing their work. . . and instead of getting the extra pay, you take it off me!!

-I am on annual increments. . . take them from me!! I'd rather you did that than cut my fortnightly pay pack! next of all you'll stick a levy on that. . . ''oh it's going to cost you 2% for us to transfer money into you bank'' yeah. . . bright spark. Save yourself a couple of grand over the next 8 years of my increments. . .

-Stop giving that lazy shyte, Prof.Drumm €70k bonuses!! THATS TWICE MY SALARY you twat! that's 2 grade III clerical officers!!! Prof. Drumm. . . you don't deserve it you moron! you are a reckless, incompetent piece of slime!

-Stop 'creating' positions who have nothing to do!! If there is not job left for poor Mary. . . don't make up one. . . it's not the neverland ranch! It's the HSE!!! Mary can do many jobs that need to be done!!! Rotate her. . . share her. . . GET RID OF HER!!! I don't CARE!!!

-Stop wasting money on electricity and heating bills!! turn off the heating on the wards you have closed down! turn off all the nice computers you have in the doctors offices. . . because really. . . does a doctors office need 5 or 6 pc's?? I think not!!!

-Why do we need a president? why the fook is Mary McAleese (and I'm sure she is lovely) living it up big style in that fancy house? she does nothingggggg!!! Why do we have her AND cowen?? Get rid of one! And cut the others salary is half!!

-The government Jet. . . whats that all about?? So the lovely, wonderfull Cummins girl who was kidnapped in some foreign land and was eventually let free was picked up by the private Government Jet and brought home. . . lucky her! but seriously? WHY?? we didn't send her to wherever she went too, did we?? I'm sure her mammy and daddy loved her an awful lot and would have been happy enough to pay for her flight home!! Baldonnell isn't even near clontarf!! Dublin Airport would have coser!!!

Now go screw yourself mister government because I am sick to death of you screwing me left right and centre!!!!!!!!!!


:mad: :mad:

SkepticOne

ChewChew wrote: »

I will be participating in the upcoming strike for the following reasons:

Some good ideas in there, imo, but I doubt they will be on the agenda in the discussions between unions and government.

jusmeig

While I support peoples right to strike and complain....I have to point this out.

The city appears to be working correctly? I'm confused!

There roads are clear, the dart is not like a cattle car, and the buses are not jam packed. Can SIPTU arrange strikes more often?

Whiskeyjack

Bob_Harris wrote: »

Grrrr, it really makes my blood boil when people get off their asses and actually do something about the ass raping the people in charge of this country give ordinary people every day.

My mother is a teacher. I see a lot of nonsense posted up here "public servants" and "cushy jobs".

The vast majority of public servants are actually hard working and get paid an ordinary wage.

That's kind of the problem here, my experience of the workers in the public sector with more difficult jobs is generally positive...

But on the other hand every worker in clerical/administrative/county council type jobs that me or people I know have dealt with were incompetent, lazy, apathetic and plain rude. If they're protesting a pay cut they can consider actually doing their jobs first.

douglashyde

The vile, cheekly, over paid public sector unions lead their members in a national stoppage in protest against the very state which allows them almost uncounted sick days and rewards them upon retirement with large pensions.

Then they have the cheek to makes suggestions about how the same state that over pays them should cut others - that just so happen, not to be them.

Get of the streets, get back to work and shut your damn gobs!

It makes you think; Are these people proud to be Irish?

Whiskeyjack

Degsy wrote: »

Nobody's taxes are paying my wages..i work for al iving..i do a job of work and get paid for it.
People on the scratcher arent working OR paying taxes and thats where the wastage is coming from..and btw,i'm not talking about the poor sods who've found themselves recently jobless after working for years..i'm talking about professional welfare scroungers who've plenty of money for cars and big televisions and new clothes and have never done a handsturn to earn it.

And it's the public sectors fault for allowing people to get away with that ****. I have little sympathy for the protesters when they aren't doing they're bloody job properly.