Blogger: haddanuff
Blog DOB: 05 Dec, 2007
Name: iva
Location: glasgow
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Before I begin this I need to point out that I nor any other member of my family is affilliated to any Irish Political Party.
Pat Rabbitte the leader of the Labour Party in Ireland has declared today that the Irish economy is doomed. This is spite of the fact that we have record employment and the government recorded a €5billion surplus in 2006, (which I assume will be used to ferry rural drinkers to pubs).
Apparently according to "The Rabbit" the States balance of payments deficit is at present €13billion and will rise to €21billion by the time "this self-satisfied coalition leaves office".
First point to "The Rabbit" is that the reason why we import more goods and services is because producing such goods in Ireland is to expensive, and we as consumers would like to buy things at a reasonable price.If I am not mistaken "The Rabbit " is a strong supporter of the minimum wage of €8.25 in Ireland. So could I suggest that if he would like this deficit to reduce that he proposes to reduce the mininmum wage so that cost of production and therefore selling prices would also reduce.
Secondly could I suggest that "The Rabbit" explore a bit of "self-satisfaction" for himself as this may clear his head.
"The Rabbit" went on to criticise former Taoisigh Jack Lynch and Charles Haughey, what ever you think of these two men and their politics is a matter for you, but to criticise two men who are dead and unable to reply is pretty low even for a rabbit. I should also point out to "The Rabbit" that Ireland is a very different place in 2007 than it was in the 1970's and 1980's.
Perhaps "The Rabbit" was caught in the headlights of a passing minibus on its way to the pub when he penned his address. Can I suggest to "The Rabbit" that the Irish electorate are an intelligent bunch and we will not be fooled into half truths and gossip when we are asked to vote in the coming election. He would be better off sitting down in his hutch and developing reasonable policies that people may vote for.
Posted in: Government
Tags: Pat Rabbitte | Labour Party | Irish Economy | GNP | Deficits
So in a nutshell the politician is very similar to the sex toy, very good around the lips but when it comes to penetration there are better in the market.
Posted by: Anonymous
I'm a bit confused by this blog.
How could we have a €5billion surplus if, as you go on to say, "we import more goods and services"?
If that was the case we would have a deficit. It seems as though you are against the minimum wage, why?
Posted by: Anonymous
The surplus is on the governments books,ie (they have €5bn more than they thought they would have) the balance of payments is the difference between the goods and services imported and exported by everyone within the economy.
On the point that I'm against the minimum wage is irrelevant, the point is that all costs need recouped by business otherwise there is no point in being in business, and this way they do this is by adding it to what you and I pay.
Hope this helps!
Posted by: Blacksheep
I thought the balance of payments was the sum of the Current Account, the Financial Account and the change in official reserves.
I checked on wikipedia http://en.wikipedia.org/wiki/Balance_of_payments and that seems to be the same explanation.
Do the Government have a separate set of "books"? I still don't think I quite understand the blog, how about using some plain english for your intellectual inferiors?
Posted by: Anonymous
