Ireland Faces Total economic Collapse !!!

Ireland faces total economic collapse!!!
Increased levels of unemployment is spreading quickly globaly

Category:

News & Politics

Tags:

• UK
• pound
• dollar
• economy
• crisis
• collapse
• meltdown
• peter
• schiff
• ron
• paul
• jim
• rogers
• marc
• faber
• Ireland
• Faces
• Total
• economic
• Collapse

[fuzzywzhe]

Ireland - do what Iceland did.

Default on your debts. The Irish people didn't make this bed, the Irish government and banking system did. You don't owe them a thing.

Iceland did exactly this, and they are doing FINE today.

[cmorganis]

stand strong Ireland... we know you're fighters!

[wolftreetree]

The bankers did the same thing to the United States, big banks got trillions in gov. Bail outs then they turned around and squeezed the middle class, forclosed on many and turned around and blaimed the victims.

[butsy1818]

Hopefully your like minded spouting crap of talking out of rose tinted glasses of academia, Mr Trinity will be rocked and knocked to it's foundataion and the rubble will be used to make some more stone circles, instead of institutions of?????????

[aridya1]

@johnfox3 If a bank creates a loan there is nothing in consideration of it not even cash. For this reason there is never enough money in the system to repay all the loans. Whose fault is this? it is certainly not the borrower. It is the totally fraudulent way in which the banking/money system functions. This is what happens as a result of fractional reserve banking.

[johnfox3]

@fuzzywzhe "It's not the responsibility of a borrower to make certain that they can pay back a loan" - I think this is where we differ, I think it is both the lender and borrower...

[fuzzywzhe]

@johnfox3 "consumer borrowing, particuarly in the housing market, and consuming that drove coperations to invest, I think it was a collective fault"

It's not the responsibility of a borrower to make certain that they can pay back a loan. It's the responsibility of the lender to make certain the underlying asset covers the loan or that the borrower will repay. There will always be irresponsible borrowers, the problem is with lending institutions that don't worry about repayment.

[johnfox3]

@fuzzywzhe consumer borrowing, particuarly in the housing market, and consuming that drove coperations to invest, I think it was a collective fault

[fuzzywzhe]

@johnfox3 "I know how a bank works mate. who took out those loans?"

People and corporations that can't possibly pay them back. Mostly corporations.

Where was the loan officers as they were handing out their depositor's money to these people and corporations that can't possibly pay back the loans? This is the whole point of due diligence and credit ratings.

Failing that, there is the underlying asset that is collateral for the loan. Hopefully the assessors did their job..

Haha, right.