Author Topic: Irish bailout $112.53 billion  (Read 1498 times)

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Offline monstertruck

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Irish bailout $112.53 billion
« on: November 28, 2010, 03:55:49 PM »
http://www.marketwatch.com/story/ireland-bailout-deal-near-reports-2010-11-28

What a brilliant idea.
Borrow more money in an attempt to solve the problem.

I think I just heard another domino fall. ;-()



Germany's gov is starting to catch on though. :))

'The size of the bailout package is staggering. The population of the Republic of Ireland is roughly 4.5 million. $112 billion USD across 4.5 million people works out to approximately $24,900 USD per person (or close to $100,000 USD per household of four persons).

To give this even greater perspective consider what a bailout package of $24,900 USD per person would look like for a country like the United States. Across 310 million people (ie, the US population) such a package would represent more than $7.5 trillion USD in loans. For further reference the total US National debt is presently around $13.8 trillion USD.

So, by agreeing to these bailouts the government of Ireland has essentially saddled their people with an ADDITIONAL debt load that (on a per capita basis) is equal to half the US National debt (on a per capita basis). It will take the people of Ireland generations to pay off this debt (if they ever do). The banks fronting these loans must be rubbing their hands with glee at prospect of all the money (interest) they will earn off the backs of the Irish.'
« Last Edit: November 28, 2010, 04:07:23 PM by monstertruck »
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Offline FedFanForever

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Re: Irish bailout $112.53 billion
« Reply #1 on: November 28, 2010, 05:24:42 PM »
Monster - the eurosocialists are screaming bloody murder at the rich countries for not handing over everything. Just watch the Euro parliament sessions, it's a riot.
Then we will fight in the shade.

Offline monstertruck

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Re: Irish bailout $112.53 billion
« Reply #2 on: November 29, 2010, 05:28:54 AM »
Monster - the eurosocialists are screaming bloody murder at the rich countries for not handing over everything. Just watch the Euro parliament sessions, it's a riot.
Hence Germany's proposal. :)

Imagine suggesting a $24k per person bailout here in the U.S.! :lol-cry:
CONK da ball!!!

Offline Swish

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Re: Irish bailout $112.53 billion
« Reply #3 on: November 29, 2010, 01:13:29 PM »
Monster - the eurosocialists are screaming bloody murder at the rich countries for not handing over everything. Just watch the Euro parliament sessions, it's a riot.
Hence Germany's proposal. :)

Imagine suggesting a $24k per person bailout here in the U.S.! :lol-cry:

Just send me the check and I'll do my part to stimulate the economy.

Offline monstertruck

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Re: Irish bailout $112.53 billion
« Reply #4 on: November 29, 2010, 04:40:36 PM »
Eyes are now on Portugal & Spain to come begging for handouts.

http://money.cnn.com/2010/11/26/news/international/spain_portugal_euro_bailout_worries/index.htm

Looks like there's a bit more 'redistribution of wealth' about to happen in The Socialist Block. ;-()
CONK da ball!!!

Offline FedFanForever

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Re: Irish bailout $112.53 billion
« Reply #5 on: November 29, 2010, 06:30:50 PM »
Eyes are now on Portugal & Spain to come begging for handouts.

http://money.cnn.com/2010/11/26/news/international/spain_portugal_euro_bailout_worries/index.htm

Looks like there's a bit more 'redistribution of wealth' about to happen in The Socialist Block. ;-()


Haha I don't think so. There's no money to redistribute, unless Germans and French are suicidal.
Then we will fight in the shade.

Offline Simkim

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Re: Irish bailout $112.53 billion
« Reply #6 on: November 30, 2010, 11:11:30 AM »
The situation here is depressing. I don't think we'll be in the position of Ireland and Greece, but just the fact that there is a risk is deeply worrying. Of course, the main concern is our unemployment rate, which is as much as 20% and not expected to decrease for the short term.

The Government has bought some time by paying-off some nationalist parties in exchange of their legislative support, so the President can finish his term of office until 2012.

I contemplate moving out Spain.

Offline monstertruck

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Re: Irish bailout $112.53 billion
« Reply #7 on: February 13, 2012, 07:20:17 AM »
.....and the beat goes on.

http://news.yahoo.com/timeline-greeces-debt-crisis-100619519.html

Bad news folks, you can't live on credit forever.
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