Financial Alchemy with Hair Dye and Olympic Wigs Not Whigs

August 1, 2012

Huge disappointment at media coverage of the Olympics here. With the advances in internet technology particularly Utube and video its appalling one cant go online or use your TV to access a full menu of total live and recorded coverage of all Olympic events, choose what you want to look at. The argument that people would not buy tickets if they could view it at home in this way does not hold water in my view.

Instead you are a prisoner of the rather ephemeral and limited offerings of local broadcasters who make the decision as to what you can watch. This is OK for major events like the 100 mtrs sprint final, but when it comes to trying to catch a basketball match between Tunisia and the USA, you havn’t a chance. Plus have you seen the new headset/earpiece microphones used by commentators in the UK. When I first saw those, I thought they were warts or boils and the commentator needed a medic. Maybe its just an aesthetic and design thing ?

Speaking of aesthetics, which has much to do with the appearance of things, Enda Kenny, An Taoiseach, must be given high marks for his triumph of aesthetics over reality in his conduct of our fiscal affairs in dealing with our debt crisis.

He’s simplified the method of dealing with Ireland’s debt crisis into a more aesthetically elegant formula based on KISS (Keep It Simple Stupid). Unfazed by 437300 people unemployed in July 2012 heading to 15% unemployment overall, the 4th highest in the EU, 200,000 long term unemployed and massive emigration, he won’t listen to the sirens of doom warnings in such stats. Instead, he refuses to talk of such doom and gloom. He avoids in depth interviews preferring simplified pre scripted sound bites targeting any amorphous or anomalous growth anywhere he can find in our economy.

Dealing with our bank debt is as simple as sitting on the fence pointing to negotiations that will take place in the Autumn on this matter. Ireland’s banking crisis has been festering since 2008; eg requiring bailout of €32bn for odious Anglo and its cabal of Quinn gamblers and insolvent developers feeding on their own greed and the greed of bankers at taxpayers expense.

Enda Kenny has successfully avoided having a banking inquiry so far. Pressure has been mounting in recent months with PAC chair John McGuinness pressing for legislation to enable fast tracking of the inquiry that could be completed inside 3 months.

Brendan Howlin, Minister for Public Expenditure and Reform, hampered by FG/LB disastrous referendum campaign that gave 5 weeks to consider whether Oireachtas committees could investigate individuals in relation to matters of public importance eg banking inquiry, with lack of information given to the public, lack of time to consider wording (5 weeks); the incompetence of taking away focus from holding the referendum on presidential election day and treating the matter as second in importance to its companion referendum issue, the matter of judges pay, has done nothing to speed matters to a conclusion worthy of remark.

Enda Kenny’s light weight approach to govt has done nothing to get our banking inquiry off the ground. It wallows in inactivity and hands out carrots to any donkey that will believe action is just over the horizon.

It could set up a Tribunal of Inquiry and use any number of means and methods including the holding of another referendum to decide the best approach but doing nothing is more aesthetically pleasing when it comes to covering up the corruption of our banking and political system.

FG/LB would like any such banking inquiry to stop at the night of the guarantee and avoid the embarrassment of how our unconscionable negotiators returned from Europe with a bailout anchor around Ireland’s economy that was both immoral and unfair once again stealing taxpayers money to pay the debt of Irish banks to foreign banks based mostly in France, Germany and the US.

We need to see the evidence and data surrounding the negotiations that forced Ireland to pay back senior bondholders of Irish banks, agree to pay out of future Irish taxpayers money a bailout of circa €67 bn to our banks, and we need to see the process by which major developers funded their developments in the Irish banking system, names please, managers and their bonuses please…political connections…..due process if ever done on loans..

But Enda Kenny is no Whig inspired Abraham Lincoln. He has handed over the resolution of Ireland’s debt problems to the likes of Mario Draghi who likewise will make strong announcements that they are prepared to save the euro to substitute for doing anything real to save the euro. Der euro Ist Fertig (the euro is finished) anyhow.

For hundreds of years the alchemists across Europe sought to find the Holy Grail of turning some chemical combination of metals into gold, Draghi & Co in the ECB with Germany’s Finance minister, Schauble and the FED’s Ben Bernanke similarly address themselves to saving the euro with as much success as the alchemists.

The only saving grace for Enda Kenny and indeed all the dithering EU politicians now addicted to normal crisis meetings over the euro which achieve nothing is to reflect upon Nietzche’s Thus spoke Zarathustra

There must be some point between morality and immorality turned on its head where the eye of the hurricane exists and one can see to one’s haircolour and one’s wig avoiding Whiggy Abraham Lincoln concerns re democracy and the people; avoid the discomfort of seeing social services decline built up painfully over decades to improve the quality of life of all the people; observes one’s country looted by banking debt and see the growing divide between rich and poor and disappearance of the middle class.

That must be where Enda Kenny is at as both he and his political cronies in FG/LB stuff state boards with their own cronies no different to the FF crowd.

Next time you hear an Enda Kenny soundbite remember, its all about hair colour joined to financial and political alchemy, fiddling while Ireland burns 😦



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