Devaluation and Kangaroo Courts

August 19, 2015

Political Policing

An unfair, biased, or hasty judicial proceeding that ends in a harsh punishment; an unauthorized trial conducted by individuals who have taken the law into their own hands, such as those put on by vigilantes or prison inmates; a proceeding and its leaders who are considered sham, corrupt, and without regard for the law.

'And then he tied me down, your honour...'

‘And then he tied me down, your honour…’

Political policing has come to Ireland. Do you think if Joan Burton was actually imprisoned in her car or if their was one whif of danger to her safety, Joan would have rung the local gardai who would have descended in force to guard her safety.

Let’s hope a decent barrister will ask to see all mobile phone records and ask the relevant questions.

Perhaps the garda in charge of operations should answer the question as to how Joan Burton allegedly remained a prisoner in her car for 2 hours. Was police time wasted? Could she not have acted sooner to call a garda?

The whole matter would be ludicrous and laughable if not for its sinister side. Perhaps this is a prelude and warning of further kangaroo courts to come targeting protesters across the country.

Joseph Goebbels Hitler’s propaganda chief I’m sure would also have made similar opportunity out of the moment to mount  efforts to tar and feather water protesters with similar propaganda.

Perhaps police entrapment was involved.

We look forward to analysing proceedings.

It’s worrisome that the Director of  Public prosecutions has allowed water protesters to be victimised in this way. Apparently its one rule for farmers protesting another for working class people.

Burton’s remaining time in office would be better served going after bankers who’ve so far for the most part escaped the rule of law. Or indeed investigating possible collusion between regulatory bodies,  developers and politicians in Celtic Tiger years.

Apparently its never been easier to get away with white-collar crime in Ireland

Perhaps if Joan Burton were charged with wasting police time more resources could be given to this neglected area.

Doubting Thomas’s may even have reason to believe the ‘imprisonment’ was staged by both Burton’s entourage and the garda as a form of police entrapment?

The whole saga does not reflect well on the politician involved, gardai and the judiciary.

However, everyone who values free speech and democracy in Ireland should protest at this abuse of our democracy. Particular attention should be given in a public inquiry as to the role of the DPP in pursuing this matter.
 

Homelessness

Increasing the rent supplement will not end the Housing Emergency mushrooming in Ireland, it would in any case only be pocketed by buy-to-let landlords.

Young people are under attack from unscrupulous landlords with unconscionable rents due to artificially induced housing shortages created by the banks to protect wealthy clients and their developer loans.

Consider this scenario: Banks in Ireland remain in a fragile state. Large and outstanding loans to buy-to-let landlords during the boom years are not risk free. If property prices sink, these loans risk going into default.

FG/LB in collusion with the central bank decide on a policy of inducing housing shortages to fatten the sacrificial lamb of property developer loans held by the banks. Banks are already feasting on high rents and ridiculously high property prices.

It’s the old story of the rich 1% with enough political connections in FG/LB to pursue policies in their favour to the exclusion of the needs of the 99%. Such a possible scenario is worthy of consideration.

The price to pay is that some fall under the austerity wheels and face homelessness.

Enda Kenny has promised a package of measures to address the emergency. Ironically, he has known of this emergency for quite some time.

In much the same way he promised that measures would be taken to demand debt relief for our banks duly trumpeted and reneged upon since June 2012, Kenny has been endlessly announcing his ‘waiting for Godot’ means to address the emergency homelessness crisis due to worsen over the coming months and years.

At the stroke of a pen, he could impose a tax on tax-free development land forcing the end of developers sitting on their pot of gold and refusing to sell until the market
peaks.

He could immediately open a series of caravan/mobile home parks as an interim measure that would at least take people out of B&B’s and unsuitable hotels.

NAMA is withholding large property banks from the market and it too should be forced to divest its stake in rising property prices that risk return to Celtic Tiger mistakes..

Irish developers are being refused loans to begin construction supporting the housing needs of people in Dublin.

Kenny’s policies have not only goosed the construction industry but high rents are leading to the closure of viable retail businesses throughout Ireland while Kenny’s odyssey of own goals continue.

Behind all of this farcical paper based economy is the dominance of the financial services industry driving the real economy to its doom.

The servicing of loans to the banks, the development of lending by the banks, has turned a real economy into a paper based exercise in financial Tom Foolery forcing young people to emigrate, the destruction of an economy through austerity.

The propaganda that the economy has turned for the better translated means we are at the point that by stealing from taxes set by the state to pay for social services including education and health, we have returned gambling debts of the rich to the rich to enable them relaunch casino investment practices while the rest of us still pay the tab.

Kenny’s castle is built on sand

The enormous downturn in the value of the euro against the dollar from 1:40+  to  1:10  dollar/euro exchange rate has been a great boon for exporters in Ireland and has lured more US holiday makers to Europe.

While this has been a boon to large business in the export area for the euros held by the 1%, this has been a hidden tax on the general population of 99% forced to pay higher for a range of imported goods from energy products based on oil to imported household items imported from China.

It’s a fragile recovery based on Zeppelin hydrogen rather than the oxygen of a real economy. Germans used hydrogen as a lifting gas that increased lift by about 8%.

Hydrogen fires had never occurred before the one that brought down the Zeppelin.

Let’s hope Kenny’s promise of a rise to pensions and free medical cards for the over 70’s will not further divide older people from the young  who do not  live in mortgage free houses and are not unaffected by the financial collapse.

That particular policy will need to be watched carefully as we approach the winter months with the possibility of doctor’s surgeries overwhelmed with young and old seeking free services while those in serious need go to the back of the queue.

Nama could immediately release large vacant property banks to deal with the crisis.

Kenny’s agenda is not to allow this to happen, to keep property prices high,
to inflate banking profits in this illusory paper economy of ours.

Growth of circa 5% has been promised for the economy for next year as the world enters into an economic disaster with parallels depicted in the movie A Perfect Storm. 

Unemployment levels down for June in spite of Summer month optimism.

There are increased unemployment levels for the young and proportionately 2:1 female to male ratios in those losing their jobs.

Higher taxes vat receipts can partly be explained by higher cost of imports.

Effectively the euro has undergone a massive devaluation against the dollar. In the short-term this has given us an economic boost mainly through increasing exports that benefit from a lower exchange rate against the dollar. Tourism from the US also gets a boost.

But there are negative sides.

Internationally

China could be reaching pay-up time for empty ghost cities built on disastrous lending to developers during its boom years built on lending. Currently it is attempting to brake massive sell-off of investment stocks with parallels to 1929 in the US. China faces the danger of imminent recession.

€86bn bailout to Greece is not without its critics.

Ironically, Kenny has attacked the proposal of debt relief for Greece (I kid you not) in spite of his own aborted failure to succeed in this area. The IMF is now strongly suggesting it will not be part of such a bailout if there is not debt relief for Greece as part of the bailout measures for Greece.

The coming Autumn will decide the fate of Greece if debt relief is not on the table. If it is, banks in Greece and France will take a large hit thus weakening the euro area further.

Meanwhile some argue that 12.5% of GDP as repayment of debt interest by Greece is sustainable.

What is more than sure is that the Zeppelin of recovery built on servicing the financial sector at the expense of the real economy is doomed to failure and will lead to more and more bush fires adding to decline rather than recovery.

Meanwhile young people are asked to pay the piper as they are led into the world of higher taxes and rent increase further eroding their standard of living while being denied the right to own their own property and raise their families in a world threatened by increasing exploitation of the 99% by the 1%.

Welcome to the new Orwellian world of financial paper based Zeppelin economies built on the fires of property and stock based  investment that threaten to burn out of control at any moment.

 

Till again

http://www.economicshelp.org/blog/1299/economics/advantages-and-disadvantages-of-devaluation/

http://legal-dictionary.thefreedictionary.com/Kangaroo+Court

http://www.economicshelp.org/macroeconomics/exchangerate/effects-devaluation/

http://www.thejournal.ie/white-collar-crime-1727927-Oct2014/

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