Property prices.......

[luther]

A good comparison, but doesn't Japan still make things? I'm trying to think of people I know who actually make things that people in other countries might conceivably want to buy. I'm not coming up with many names.

Don't we make a bit of this stuff........



We also have elected officials who seem to be able to make a cunt of everything.......

[anitasizzle]

A good comparison, but doesn't Japan still make things? I'm trying to think of people I know who actually make things that people in other countries might conceivably want to buy. I'm not coming up with many names.

That's one of the reasons Japan has been in a recession for the last 20 years, they make things people don't want; and they've foolishly engaged in currency speculation to make those things attractive to prospective buyers as well as keeping their investment in the Dollar and the Euro valuable even if it means selling itself short; but the comparison is still a valid one, during the 90's japan's real estate market fell by 80 percent..

[anitasizzle]

I blame the financial advisers that popped up on every street corner just as much as the banks and ourselves, how many of us know someone that went to one of them and they filled in the mortgage application form with fairytales for them and as for Salary certs required with the application, a €20 rubber stamp bought in any office supply shop with the name of the company you work for on it got around that.. One of my staff came to me looking for blank P60 forms, when I asked her what for she said her advisor wanted them, her salary was too low in the prvious year so he was going to fill in the P60 so she would meet the criteria..

Sounds like a government sponsored pyramid scheme to me

[Iashaf]

Sounds like a government sponsored pyramid scheme to me

The entire basis of the Irish economy for the past 15 years.

[johnmurphy]

Don't we make a bit of this stuff........



We also have elected officials who seem to be able to make a cunt of everything.......

we provide the location in which it is made the IDA provide the buildings but the profits eventually go home to uncle sam

[carlos marvado]

The only thing that differentiates our government from the South American juntas of the 1970s and 1980s and the corrupt regimes in Africa is that we actually used a tried and tested democratic system to put this lot into office following three successive elections. The Africans and Latin Americans had some excuse.......often as not elections were rigged or they were intimidated.......we were just lied to and we bought the crap. Fianna Fail used to butter us up to make us feel good about ourselves and what was happening. They used standard soundbites like "Ireland has a young educated population" and we "have a very sophisticated electorate". So how come a young educated and sophisticated electorate made a habit of electing gombeens who were either corrupt or incompetent or both and either took the policy decisions that contributed to this mess or failed to take the necessary policy decisions to avoid the mess? But maybe we should be grateful for small mercies.......the have'nt started to persecute, arrest, torture or murder their citizens yet.......they're just going to screw us into a state of destitution.

[johnmurphy]

I think any of the mortages obtained with false documents that lending company's helped with should be null and void... When Iwent for mortgage. I was sent to accountant who made it possile for me to purchase.. The mortagage company, accountant and I knew the papers were complete bullshite..
They are going to knock houses down to stabalize market. Right now too many houses and not enough buyers.... The whole thing is disgusting really

problem is that the borrowers signature is there saying that it is all true but there is no signature on behalf of the lender saying that so it is the borrower who is liable for the false information but i heard on the radio the other day of cases in the usa where the banks sold on the mortages and then they got sold on again and again now the banks can not find the original papers and even when they can it is unsure who is owed the money

e.g. aib lends joe bloggs 500k to by a house but then sell the mortage to some other bank who sell it on again etc

anyway it seems the aib bank officials did not have the paperwork anymore when joe bloggs defaulted and the aib officials who were signing the legal proceedings for foreclosure were doing so illegally because they must "have sight" of the original paperwork so it just might be worth asking for sight of the original paperwork if you are threatened with foreclosure

[johnmurphy]

P.S. I'm Anthony48 on Chat. BestXXX

pps your anthony48 here too tom

[Ric Hardgear]

The only thing that differentiates our government from the South American juntas of the 1970s and 1980s and the corrupt regimes in Africa is that we actually used a tried and tested democratic system to put this lot into office following three successive elections. The Africans and Latin Americans had some excuse.......often as not elections were rigged or they were intimidated.......we were just lied to and we bought the crap. Fianna Fail used to butter us up to make us feel good about ourselves and what was happening. They used standard soundbites like "Ireland has a young educated population" and we "have a very sophisticated electorate". So how come a young educated and sophisticated electorate made a habit of electing gombeens who were either corrupt or incompetent or both and either took the policy decisions that contributed to this mess or failed to take the necessary policy decisions to avoid the mess? But maybe we should be grateful for small mercies.......the have'nt started to persecute, arrest, torture or murder their citizens yet.......they're just going to screw us into a state of destitution.

well said.........

[Lucy Chambers]

pps your anthony48 here too tom

Indulging again darling? Remember the water.