Permanent TSB have decided that the extortionate mortgages that we pay are not extortionate enough and have decided to lob 0.5% onto their variable rates.
I know what you're thinking. You're thinking that it seems a tad unfair seeing as how we are guaranteeing this bank in the 1st place with our tax euros. You're thinking that maybe seeing as how we're allowing the bank to operate with this guarantee that maybe the bank should not bite the hand that feeds it? But, you're looking at it all wrong! The poor bank has lost an absolute fortune through sheer incompetence over the last couple of years and how exactly are the executives going to get their ludicrously high bonuses this year if they don't fleece the tax payer? I mean, it's not as if it's the execs fault, now is it? Hmmmm?
It would seem to be a bit of a complete disgrace.
But, never fear! Lenihan will sort this out. He will wade in and say "Hey there! You! Yes, you, Bank over there! Stop fleecing the tax payers." And everything will be alright. He can do this because he can remove the guarantee from this bank and leave them exposed. Go Brian!
Unfortunately, Lenihan has decided to do nothing. Again. What's really amusing about this is that he claimed 100% confidently as he was removing mortgage interest relief for tax payers a small number of months ago that "interest rates are only going down" and that we can all afford this. How can a finance minister be so out of touch with what's going on? Now he's going to leave the bank to fleece the taxpayer. It's laughable. I can almost hear AIB/BoI initial disbelief at this followed quickly by manic joy. Expect similar increases from them now.
It's clear that our current government have no interest in protecting the population from the banks while throwing vast quantities of cash at them at the same time. We have to help ourselves now. All Permanent TSB account holders should withdraw their money immediately from the bank and close their accounts. This should inspire them to reverse this ridiculous decision.
Saturday, 25 July 2009
Wednesday, 22 July 2009
Education, Education, er, Recreation?
It must be great to be a teacher. Especially during the summer months although the weather isn't great this year but with a couple of months to spare I suppose you could find the time to get some travelling done to sunnier spots.
After the publication of the Bord Snip report I heard the INTO General Secratary John Carr on the Last Word on Today FM. Now, I believe that education is paramount to the future of any country and I condemn strongly any government which attempts to cut education service. Along with everyone else, you say. John Carr agrees with this. He also wants the education of our children safe guarded. And to this end he was complaining about the proposals in the Bord Snip report. Specifically the proposals around cutting education. Good man, John!
However, Professor Ed Walsh of UL then came on and said that he had had the "misfortune" in the past of having to deal with teachers unions. He claimed that the unions and their members were not the slightest bit interested in the education of the children but were concerned only with maintaining their conditions and pay packets. He said that the unions were always trotting out the mantra that they were concerned only with protecting the poor, suffering children and if that was the case why don't they take a pay cut? As an example, he pointed out that in France the teachers get paid 75% less than they do in Ireland. I'm afraid that Carr just blustered at this point and had no real answers. Poor show, John!
We all know that childrens right to education is copper fastened in the constitution. We can't take that away. We also all know that FF has made a pigs tail-end of the economy and are having the most terrible time trying to balance the books. If the governemnt had "X" billion for education last year and has only "Y" billion for education this year then it stands to reason that they can only pay "Y" billion but they still must provide the service. If this means cuts in service pay then so be it. We simply cannot punish the children of today because of the ineptitude of the current government's handling of our economy.
So, let's get behind the children and get them what they need! Let's extract value for money from the education service. Let's have a long hard look at the benefit to the children, not to mention the economy, of having tens of thousands of people being paid for months at a time to do nothing during the summer. Let's have a look at why are teachers who attend training courses during the summer entitled to days off when they return to school at the expense of our childrens education. Let's have a look at why they are entitled to time off during school term in lieu of time spent travelling to courses during their extended holidays. Let's have a look at why they are entitled to 30 days uncertified sick leave a year. Let's have a look at why this sick leave is used, unchecked, as holidays by some. Let's have a look at why they get paid extra money for patrolling the yard. Let's have an understanding why they can't have staff meetings after the children go home but instead insist on closing the school early. Let's have the teachers and parents get together and demand a better system for our children. Finally, let's have this better system delivered for less money that it's currently costing.
To the teachers, unions, and Batt O'Keefe, please end this madness. You will find the parents, children, and voters deeply appreciative!
After the publication of the Bord Snip report I heard the INTO General Secratary John Carr on the Last Word on Today FM. Now, I believe that education is paramount to the future of any country and I condemn strongly any government which attempts to cut education service. Along with everyone else, you say. John Carr agrees with this. He also wants the education of our children safe guarded. And to this end he was complaining about the proposals in the Bord Snip report. Specifically the proposals around cutting education. Good man, John!
However, Professor Ed Walsh of UL then came on and said that he had had the "misfortune" in the past of having to deal with teachers unions. He claimed that the unions and their members were not the slightest bit interested in the education of the children but were concerned only with maintaining their conditions and pay packets. He said that the unions were always trotting out the mantra that they were concerned only with protecting the poor, suffering children and if that was the case why don't they take a pay cut? As an example, he pointed out that in France the teachers get paid 75% less than they do in Ireland. I'm afraid that Carr just blustered at this point and had no real answers. Poor show, John!
We all know that childrens right to education is copper fastened in the constitution. We can't take that away. We also all know that FF has made a pigs tail-end of the economy and are having the most terrible time trying to balance the books. If the governemnt had "X" billion for education last year and has only "Y" billion for education this year then it stands to reason that they can only pay "Y" billion but they still must provide the service. If this means cuts in service pay then so be it. We simply cannot punish the children of today because of the ineptitude of the current government's handling of our economy.
So, let's get behind the children and get them what they need! Let's extract value for money from the education service. Let's have a long hard look at the benefit to the children, not to mention the economy, of having tens of thousands of people being paid for months at a time to do nothing during the summer. Let's have a look at why are teachers who attend training courses during the summer entitled to days off when they return to school at the expense of our childrens education. Let's have a look at why they are entitled to time off during school term in lieu of time spent travelling to courses during their extended holidays. Let's have a look at why they are entitled to 30 days uncertified sick leave a year. Let's have a look at why this sick leave is used, unchecked, as holidays by some. Let's have a look at why they get paid extra money for patrolling the yard. Let's have an understanding why they can't have staff meetings after the children go home but instead insist on closing the school early. Let's have the teachers and parents get together and demand a better system for our children. Finally, let's have this better system delivered for less money that it's currently costing.
To the teachers, unions, and Batt O'Keefe, please end this madness. You will find the parents, children, and voters deeply appreciative!
Thursday, 16 July 2009
Buttered on Both Sides, with Plenty Left in the Tub.
MPACT, Ireland's largest public service union, has displayed a complete disconnect with reality by warning that it will respond with industrial action, including strikes, if the Government attempts to impose public service pay cuts, pension reductions, or compulsory redundancies.
This is posturing, at best. As the public sector has escaped from the economic catastrophe engineered and implemented by FF up to this point, it is now inevitable for the public sector to be "benchmarked" again back into reality.
Accounting boils down to 2 things. Money coming in, and money going out. When the money coming in (taxes) falls then the money going out also has to fall unless, of course, you had the wit in the first place to put money away in the good times but that's a whole other area of incompetence. The way that the outgoing money falls is vital.
Consider, as an exapmple, a car company, say Volkswagen. If the money in (car sales) falls then what happens? They cut costs. But they can't cut costs in a way that impacts the quality of the product they're making. They can't suddenly produce cars that fall apart after 5,000km and only come with 3 doors and no steering wheel. No, they cut wages and reduce staff numbers because it's the only way to survive. The private sector understands this. Clearly IMPACT don't. IMPACT represent the public sector and the public sector are there to provide a service and the government must ensure that they get the service within the budget they have and IMPACT must support this.
If IMPACT have a solution on how to save money other than pay cuts, pension deductions, or redundancies then let's hear it. Answers like raising taxes i.e. asking car buyers to pay MORE for lower-quality cars, are simply unacceptable in this day and age.
This is posturing, at best. As the public sector has escaped from the economic catastrophe engineered and implemented by FF up to this point, it is now inevitable for the public sector to be "benchmarked" again back into reality.
Accounting boils down to 2 things. Money coming in, and money going out. When the money coming in (taxes) falls then the money going out also has to fall unless, of course, you had the wit in the first place to put money away in the good times but that's a whole other area of incompetence. The way that the outgoing money falls is vital.
Consider, as an exapmple, a car company, say Volkswagen. If the money in (car sales) falls then what happens? They cut costs. But they can't cut costs in a way that impacts the quality of the product they're making. They can't suddenly produce cars that fall apart after 5,000km and only come with 3 doors and no steering wheel. No, they cut wages and reduce staff numbers because it's the only way to survive. The private sector understands this. Clearly IMPACT don't. IMPACT represent the public sector and the public sector are there to provide a service and the government must ensure that they get the service within the budget they have and IMPACT must support this.
If IMPACT have a solution on how to save money other than pay cuts, pension deductions, or redundancies then let's hear it. Answers like raising taxes i.e. asking car buyers to pay MORE for lower-quality cars, are simply unacceptable in this day and age.
Keeping Your Head Firmly in Your Behind
'Twas amazing! A bigger miracle than the Holy Stump of Rathkeale. It would normally take a committee to be as collectively bereft of knowledge as this one man showed he is today. I applaud you. I pity you.
Who I am referring to is Tom Geraghty, General Secretary of the Public Service Executive Union. He claimed, this morning, that the public servants should not solely bear the brunt of expenditure cuts. Sure, isn't the public sector already paying a massive pension levy? This is an economic crisis for the whole country, not just the public sector, you know. This was his retalliation to the ESRI report that there is scope for further pay cuts in the public sector (not, as far as I know, that there have been any yet).
In the first quarter of this year the private sector was losing one job every two minutes while the public sector gained an extra 3,500 recruits. On top of this the private sector wages have fallen on average 20% while Brian Lenihan failed to cut increments from the public sector in the last budget which is costing the tax payer 300 million this year in pay rises.
So, Tom, you are half right. The burden is not being shared in an equitable way. The private sector are shouldering the lions share and it's time that the unions understood that and stopped alienating themselves from the entire country.
Who I am referring to is Tom Geraghty, General Secretary of the Public Service Executive Union. He claimed, this morning, that the public servants should not solely bear the brunt of expenditure cuts. Sure, isn't the public sector already paying a massive pension levy? This is an economic crisis for the whole country, not just the public sector, you know. This was his retalliation to the ESRI report that there is scope for further pay cuts in the public sector (not, as far as I know, that there have been any yet).
In the first quarter of this year the private sector was losing one job every two minutes while the public sector gained an extra 3,500 recruits. On top of this the private sector wages have fallen on average 20% while Brian Lenihan failed to cut increments from the public sector in the last budget which is costing the tax payer 300 million this year in pay rises.
So, Tom, you are half right. The burden is not being shared in an equitable way. The private sector are shouldering the lions share and it's time that the unions understood that and stopped alienating themselves from the entire country.
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