2012 is looking up, with two achievable and realistic debt justice initiatives being proposed this week. By Michael Taft.
Ever since the crisis began, progressives have been on the back-foot, forced to react to the agenda driven by the orthodoxy. However, 2012 has started on a more hopeful note. There have been two initiatives that can provide the basis for a common-sense counter-agenda, not only capable of winning considerable support throughout society but – and this is always key – of winning.
The EU and the IMF have got it badly wrong in their predictions and projections for the Irish economy thus far. Time for them to own up to their mistakes. By Michael Taft.
There’s nothing wrong with saying, hey I got it wrong. We all get something wrong from time to time; never more so when the subject matter is economic and fiscal forecasting. When people and institutions don’t admit they got it wrong, especially when they got it demonstrably wrong, when the policies they are advocating are not hitting their target - that’s when cynicism and resentment arises.
Do we really believe that building and selling houses to each other is a pathway to recovery? The Government seems to think so. By Michael Taft.
There’s been a lot of discussion about whether 2012 will see property prices hit the ‘floor’. The Government and NAMA are doing their bit to help stimulate house purchases through budgetary measures and negative equity insurance schemes. Unfortunately, there has been little debate about the optimal level of house property prices. Few have been asking if it would be a good idea if property prices stopped falling this year.
The Irish people need to to come together and voice one simple demand in 2012: stop making payments to bondholders in zombie bank Anglo. By Michael Taft.
A lot of people are going to find it difficult in 2012, what with the economy returning to recession and all. But for one group, it will be business as usual: Anglo-Irish creditors. And that business will mean that they will be repaid in full.
What does the future hold for Ireland as we begin 2012? Near permanent deflation, high unemployment and high debt - at least if the Government persists with its austerity mindset. By Michael Taft.
Ten years of austerity? What is the ex-ESRI researcher Richard Tol talking about? Wasn’t austerity to only last until 2015? Is this what we have to look forward to? You bet it is.