|17 Nov 2008
"So this method
of encouraging the consumer to up his spending
is out, dead, gone!"
In effect, there
was no one in charge of what I have long
as international financial buccaneers.
It was this
concern and the complete refusal of our
realistically assess and take control of the direction that Ireland was
being led in, that propelled me to register my anxiety and disquiet by
putting my name forward as an independent candidate in Sligo
North-Leitrim in last year's general election.
|9 Dec 2008
There is about €60bn in securitised retail mortgage loans to
be paid back to investors from outside the country which now appears to
be indirectly backed by an Irish government guarantee. The drastic
collapse in house prices means that we have nothing of value to
represent these securitised loans.
Is it possible that our highly paid political masters and advisers are
holding a couple of aces up their sleeves? On such a fickle outcome is
resting the hopes of a very trusting and highly indebted youthful
|20 Nov 2008
Copy to Minister for Finance and The Governor B/I
Still waiting reply
I would like to know the total amount of retail mortgages
from Irish Finance Mortgage Lending and how this is broken down between:
That which is owned by the
various financial institutions and
Those which are serviced by the
financial institutions, and are owned by bond investors who own all
I have uncovered from my own investigation
that there could be around
of the second grouping.
is very difficult to read Bank Balance Sheets etc. even though I have a
B.Comm., an Accounting qualification plus MIB; so I am seeking
enlightenment on the above.
|18 Jun 2008
created current Irish mortgage crisis
Ironically, under the European Union
Stability and Growth Pact, Government debt should be no higher than 60
percent of gross domestic product (GDP). Somehow, it has come to pass
that loading the young people of the EU with mortgages some five to
nine times their income has become acceptable.
The problem with the EU is that
it is an
aging society; until this problem is tackled we will be like hens in a
farmyard when a fox strays in. The Lisbon Treaty mentions “defense”
around fifty times; the word “birth” does not merit a mention. Coming
down to the level of the EU politicians and international bankers, the
bald fact is that the EU leadership has 100,000,000,000 reasons to
listen to the voice of the Irish people!
Submitted to an Irish website blog
Ireland has an External Debt rapidly
$2Trillion (if a straight Euro/dollar rate of exchange is applied to
the CB official figure of €1.36 Trillion). I am sure that the ECB would
be more than slightly worried about this, even though no one in Ireland
seems bothered about it.
Bertie Ahern could arrange with his friend Premier
of the State Council of the Peoples Republic of China H.E. Mr. Wen
Jiabao to alleviate some of the ECB worries by knocking a few chips of
our Debt with their measly $1.43 trillion in reserves, using the same
nonchalance in which it was allowed mount up. Nothing is a problem to
our boys on top; having developed a great repartee with all world
leaders on St Patrick’s Day trips. It is getting wobbly here in
Celtictigerland and very near time to call in the ten years of Credits.
You got us the Debts and no doubt the Credits will not be far behind.
The Chinese would win from this situation too: they would not need
to worry about hurting President Bush, he of the soon ten bowls of
shamrock, in divesting themselves from dollar reserves. Good on ye!
Taoiseacht and your team, we all thought that you were wasting your
time in Washington and Peking. You will keep the leaders of the
Capitalist World happy as well as the Irish Electorate. Bravo!
Electorate have full faith in you. We do not heed these
rumours that you will be leaving us to take up some menial job in
Europe. We want you to stay and guide us through the rough seas cause
by Dan the Man Bankers, Property Developers etc. those guys with the
fat wallets. We have full confidence that you are on top of things.
There's white bailiffs and they're coming at me at a pace now
There's a blue summons man waving paper into my face
The children are crying on the underside of the bridges
And there's vans going by with bars in the windows
Don't leave me now, now, now
While the sun smiles
Stick around and laugh a while, stick around and laugh a while
|5 Jun 2007
just surfed into your site. I am a father
of four children between the
22 and 30. I went up for election as an independent candidate in Sligo
Leitrim to highlight this very grave injustice that is being
perpetrated on our
young men and women on this isle of ours. The bottom line is that house
both North and South are increasing rapidly because of the
unseemly inward investment in mortgages from Elderly Europe! What is
is that financial companies are bungling hundreds of mortgages together and selling them
to European Pension Funds etc one and two billion euros at a time; now they take a big commission from the European Pension Fund; and then they
have the balance to lend
and on and on and on!. The limit is: what the
youth will bear. All the
are at it; loads of commission is being collected from Pension Funds
Governments are restricted from borrowing 60% of GNP by various EU
but there is no restriction
on the amount that Banks
etc can lend out to our young
men and women, can be up to 6 and 9 times salary. I reckon that
c.€50,000,000,000 (yes 10 zeros) has entered the
Southern Irish Housing
this way. Housing in Dublin
has increased by c. three times in the
past 10 years when the CPI
only increased by 30%. THIS IS PURE ECONOMIC MADNESS. This investment
mirrors the total USA
investment of €50Bn in the
Irish Economy but will pull in the
opposite direction i.e. young people will need
huge salaries to buy a house. USA
investment will fly out of Ireland.
I called for a National Enquiry into this whole affair; even went to the expense of paying for an input to The
Independent to highlight the
potential disaster of this unregulated investment in Ireland.
Ouch! The Silence! I
reckon that this small economy will not be able to withstand worrying
implications of this unplanned (by Govt. Authorities, politicians,
European Pension Funds are also being ripped off! All this is happening
unbeknownst to our Politicians. Congratulations to the
youth of the SDLP who have the gumption and the
wherewithal to QUESTION!
|22 Jan 2007
Letter to CB and FSAI
They were silent on this one.
Central Bank and
Financial Services Authority of Ireland
Fitzpatrick and Mr Stephen Tracy of the
CSO published a breakdown of our External Debt as at 30 September 2006
on the Internet.
I have four children in Dublin
in their twenties. They
have not “an ass’s roar in hell” chance of buying a house as I did in
1975 on the strength of one
I am trying to get to grips as to what is happening. I am aware that the Bank of Ireland initiated a type of
Stirling Securitisation deal in the
late 1980s. This form of selling off, of lumps of Retail Mortgages
appears to be more frequent in Ireland in the last number of years.
I wonder is it possible to give me “a ball park figure” as at 30th
September 2006 of:
the Total Debt
(Whether it be classified as
loans, bonds or whatever) that would be associated with Securitisation
of Residential Mortgages
the Total Debt
(Whether it be classified as
loans, bonds or whatever) that would be associated with Securitisation
of Commercial Mortgages.
|4 Sep 2005
Letter sent to The Sunday Independent
of the Rossport Five
Sir – Many
citizens are puzzled by the
that even with such generous terms offered by the
Government, oil companies are not rushing in to take up our oil and
is a valid reason for this. Other
countries have set up state-controlled energy companies that oversee their oil/gas exploration and exploitation.
state-controlled energy companies bring in the
multinationals as equal partners. Foreign governments have been able to
tax the private sector
companies more rigorously because
it is not solely depending on them.
The large multinationals, hiring the
most effective exploration rigs, have to honour their
commitments to countries that put up some of the
costs of exploration!
1966 and 1969 31 dry holes, as a cost of 850m Norwegian kroner, were
drilled by the Norwegians,
without any significant
find. The industry was becoming despondent and on the
verge of packing up. The Norwegian state was on the
verge of bankruptcy! Shortly before the
Christmas holiday 1969 the
happened, Philips Petroleum’s drilling rig, the
Ocean Viking, struck a massive oil
and gas field some 220km from Stavanger.
students embarking into the
we were excited that oil/gas exploration would be initiated off our
having been led to understand that the
rock structure was favourable.
hopes for jobs at home (western seaboard) were dashed by the
news that there were no
hydrocarbons off our shores: the
result of studies carried out for our government by international oil
consultants. Here we are 30 years on; many of us still do not realise
were sold a pup!
It is time
that attention and surplus wealth was directed towards the
hydrocarbon industry and its related onshore activities. This would
guarantee a proper return, and security of oil and gas supply.
seaboard, already the poor
is being turned into a disaster area by the
large-scale pull-out of international clothing firms. Is there
a better economic excuse to change our policy and initiate a more
geographical spread of investments?
policy on the exploration
exploitation of our hydrocarbons is short-sighted, and makes a laugh of
the notion that we are
one of the
most economically advanced nations in the
world. Most worryingly it leads to our lack of regulation of events,
e.g. the jailing of fellow
citizens when they don’s
fall in with the
plans of those to whom we hand over control of our resources!
|9 Dec 2004
Read out on air by Pat Kenny
awareness of the Rev Ian Paisley was in the
1960s. He did not want anything to do with any party or country that
was in his opinion “ruled from Rome”.
The people of Ireland
and Sinn Fein have hived off the cloak of Rome in no small way with the
introduction of artificial contraceptives, divorce etc. In addition,
the South has dropped their constitutional claim to the six counties.
Sinn Fein MEPs were vehement in their opposition to Buttiglione, a man
who was the nominee of the democratically elected Italian government
for the Justice portfolio in the EU; a man who was not shy in
expounding the dominance of his Roman Catholic views. He got the chop!
full of many leaders who do not know when they are beaten. But Paisley does not
know when he has won!
|1 Oct 2004
To The Irish Times
- The Irish Government encourages low paid workers,
who by default are in the majority, to invest in Pension Funds for
their retirement. Yet we hear from Britain that a worker who
contributes £23 a week for 20 years could end up only getting an
increase retirement pension of £12 weekly (The Observer, 26th
September 2004). An in debt study into this phenomenon should be
carried out over here.
the other hand, the theory is that if you are wealthy and can afford
to put a lot away into a pension fund that you will be providing
adequately for your retirement. How true is this? Growth rates appear
to be exaggerated right through the whole long term investment scene.
Pension Funds are invested in the same type of financial instruments as
are the savings element of Endowment Mortgages. Yet we hear that the
short fall from these mortgage investment vehicles can be a third of
the money actually borrowed in the first place, never mind the forecast
surplus at time of sale (Prime Time, RTE 1, 30th September 2004).
|1 Oct 2004
To The Irish Times
everyday about the poor performances of our fellow Euro countries. Many
of them exceeding the 3% budget limit imposed by the Growth and
Stability Pact. Unemployment is at record highs. Sales are down right
across the board. Supermarkets are closing down right across the EC
e.g. Kingfisher is to close
six loss-making Castrorama stores in Germany; Laura Ashley closed 35 continental shops; Marks &
Spencer have announced plans to close its 38 continental European
stores and so on and so on. Car sales, compared to the 1970s, have
plummeted right across the EC.
fact that the long term savings of Irish workers is
vanishing at a phenomenal fast rate, the self same workers appear to be
borrowing and investing heavily in property in the same countries whose
economies are so sluggish. Oh, how they must love the Irish! The EURO
economies are on a slippery slope. The USA
no longer thinks of the EC as a growth area, they no longer invest
heavily in continental Europe; why
else are they contemplating the withdrawal of their European based army
squadrons? It is not strictly true,
as the old saying had it, that trade followed the flag; often, which is
now the case, the flag followed trade.
needs growth to work effectively, no
matter how small or big the base point is; current demographics of the
EC preclude this. It is time either investment strategy changed or the
government for the sake of the future welloffness of its citizens
stopped subsidising a loss making industry and read the Global position
like it is!
|23 Nov 2004
Letter to Enda Kenny TD
I am a Dodo when it
comes to politics. I know that you were surprised at some of my
But, I continue to be gob smacked with the enthusiasm that the Irish
the EU. If we were bringing something to the party besides a blind
faith in the
economic future of the EU, then I might be less worried. I have written
the Mayo Yearbooks from 2000 to 2003 (Let me know if you wish to read
out the very foreseeable disastrous future for the EU. Consumer demand
falling, depression like in Ireland
of the fifties is taking hold. LISTEN! THE EU ECONOMY IS A BASKET CASE;
THE HOLY GRAIL OF CAPITILISM IS DEAD following on a forty year falling
rate; and to my utter consternation I see the Irish nation gaily
the same tunes and in the same direction.
|4 Jun 2004
Letter to Irish Times
on Irish Citizenship
Madam, there are close to 250,000 less children,
twenty years of age, in Ireland today than there
were in 1984. This happened because Ireland in promoting
not, an anti child country. Just weigh up the
following experiences that happened over the
past 30 years:
of tax allowances for children.
introduced without any thought given to the
number of children being supported.
tax allowances if both parents work outside the
and wealth promoted as an end objective e.g. 100% tax relief for
contributions rather than the other
factor of production i.e. the
generation of future workers/consumers.
burdening of our young men and women with awesome loan repayments
serious thought given by our government to make the
wider world more safe for children in the
absence of full time parents in the
home e.g. the lack of
on pornography via internet, satellite, magazines.
fertilised egg in the womb
has to go
through the gamut of a
mine field e.g. artificial means of contraception, abortion before it
into our world. We now propose to welcome this little hero by telling
it, it is
not entitled to become an Irish Citizen.
government remains consistent in its efforts to pass negative child
legislation. We, citizens of Ireland
and the EU, have got to
regime that brings back the
child as the foundation
of our being.
There were 50% more births in the
in the 1960’s than today.
should be welcomed from whatever angle they
come from. Our government has now given us an opportunity to ‘Shout
(borrowing the immortal
words of a
former columnist in your paper) and force the
EU and the West to
reflect on the
encouragement of an
increase in our birth rate as a guarantee of a future. Is it wise to
our defence on restrictive internal security, armaments and aggression?
path of the existence of
civilisation and democracy is finite! It is an Irish call. Ours now!
|26 May 2004
Letter to Eoin Ryan MEP
GOVERNMENT SHOULD DISALLOW ANY TAX BREAKS FOR PENSION FUNDS THAT ARE
IN THE STOCKMARKET. Specific funds will rise, but the
general trend is a depressed economic world. Otherwise
as a businessman, I and hundreds of others
see that such funds are ripe for plundering e.g. Inron, Parmalat etc
Click here for full letter
|19 May 2004
wave of social upheaval
Sir - There are close to 250,000 less indigenous Irish children in our
country today than in the 1980s. The repercussion is that a tidal wave
of needless economic and social upheaval, winds its way through the
social fabric of our society.
This creepingly manifests itself in : a plunge of sales of children's
clothes; less primary teachers needed; closure of local bakeries; drop
in sales of jeans; less secondary school teachers needed; car sales and
house purchases will plummet; less university lecturers needed; on
going restrictions on civil liberties e.g. smoking, drinking, eating,
banned associations, citizens encouraged to blow the whistle on each
other; the demise of the irish influence through out the world; a land
ruled by depression; collapse in the commercial like of the country;
armed upheaval; leading to loss of tradition, beliefs and culture!
Statistics and experiences from other countries indicate that a reverse
domino effect on our fertility rate is virtually unstoppable given our
willing adoption of the liberal policies of the western world. The fact
that this is happening in mainly democratic countries bodes badly for
the future of world government.
Are we capable of a wider and mature debate before we embark on another
assault on the rights of humanity, as it emerges from the mother's
womb, via the forthcoming referendum? I do not see anybody else in the
western world willing to grasp this nettle if we Irish don't!
|10 May 2004
Letter to Niall Brady, Sunday Tribune.
article on the 9th
2004 will have hit a few sensitive nerves, especially other
people who lost their hard
will find a piece by a fellow reporter, Michael
Commins of the
Western People. I am lucky that such a good précis has been done
writings. It should explain to you, as to where I come from. My
training etc was all geared to banking, investment etc.
makes your article so explosive is that there
would have been many investment analysers in all the
establishments who would have been able to see the
warning signs building up at the
of the 90s. I would have
special foresight. The one thing that I would have is independence, no
corner to protect a raw analyser of world movements, no special line to
fact, I set up a company to give investment advice. But got so
disillusioned by the lack
understanding in the GLOBAL
Banking/Investment climate that I ceased
giving personal advice c 1997. I took to writing instead.
Mayo (my home county) had no political clout or economic motor in the twentieth century because it lost a far
share of its young people through emigration, migration than any other county. I see that the
same is happening now to the
so-called developed areas of the
the More Developed
Areas of the
world the fertility rate in
2.68, and 1.57 in 2000, i.e. a drop of 41%, or the
birthrate was 71% more forty years ago, as per United Nations
These areas of the world
c.90% of the world's trade!
ordinary punter on the
ground is not
informed of the potential
scenario throws up for world disharmony; to put it mildly!
GROWTH the engine of the capitalist western
system in the past is NO MORE. People
are not realistic; a
sustained fall in the birth rate
results in no growth and flight of capital.
took an unprecedented step in Dec 2001, and sent relevant facts by
Email to all the major
finance and economics departments of universities etc. There was
to me. My sole concern was that we Irish should read the
signals correctly and take appropriate action. The Irish are caught in the unmerciful eddy of a global wave of
worst fear was that the
small man, with little knowledge of some unscrupulous commission-based
that abound, would lose out as is evident by your fine research. The
Funds stand to continue to lose big time! The Irish
had and still have the raw
to make more prudent decisions. There are still ways to rescue the situation here in Ireland.
But, I would not be sure
if the Irish people are
ready for a
cure, for the simple reason
do not see the problem!
being blinded by the
A quote from the Diamond
Sutra, the oldest known
printing, displayed along the
Silk Road AD868, “Wheresoever there
are material characteristics, there
I hope that you are a young
man. If you are, the future
is not as bleak as is portrayed
by other media, if one looks
through all the bull! Keep
going to the
bottom line. If it shows profits, without retrenchment, then there
is a good chance
is cooking the books and the small man; pension holder is loosing
Inron, Parmalat etc. <>Let me know if I can
be of any assistance if you wish to
follow up on your fine article.
|8 April 2004
full submision can be read here
An introductory submission can be read on their website below
One of many Emails to Frank Lahiffe. Assisstant to Minister
Seamus Brennan RIP
|Subject: Vindication: Sunday
Times has it, four years later!
Thanks for the clarification on Western Rail Corridor.
Get a hold of The Sunday Times Magazine 15th Feb. There is a 13 page
article by a Richard Girling called 'The Great Baby Shortage'. A true
vindication of everything that I wrote since the year 2000 in the Mayo
Yearbooks and letters to the papers. One notable quote that he has on
the first page is "The ambitions of some in Europe to rival us as a
world power is an empty dream". He has similar references to mine in
connection with the Aging Society, women having no time to have babies,
the weakening of society etc.
Compare the above with my quote "People who put their faith in the long
term European Economy and the EURO are living in the clouds" 2002.
There are others.
I sent a copy of my Email of 10th Dec to the Taoiseacht by snail post
(his E-address was not working). I got an Email reply that he was to
read it. In it, I quoted the United Nations Population Division stats,
which is the foundation of the Times article.
Read the whole Sunday Times article. We are right mugs here in Ireland
that we choose to go down a similar path. especially when this path is
strewn with the wreckage of the breakdown in society! "Concentrating on
Growth Centres is only yielding to this culture of seemingly invisible
self-destruction" Editorial Mayo Association Yearbook 2002.
has got to take notice. Individually, they are all sound people;
but collectively they are blind to the massive depression in which they
are leading us into. For our descendants' future, they have got to cop
themselves on. Read the Sunday Times article. All the info. already
appeared in the Mayo Association Yearbooks. Ironic, isn't it! There has
got to be an influential person of substance out there someplace.
Letter to Brian Cowen, Minister for Foreign Affairs
Some of my letter was a plea to Mr Cowen to
do something for our emigrants. His Private Secretary, Joseph Hackett
replied and outlined the various inititives his Department had talen to
help emigrant care groups in the United Kingdom, United States, and
Australia who require special assistance and support. However there was
no reaction to the rest of my letter, some of which I print below:
style="font-weight: bold;">"Mayo people, if their
Hydrocarbon Resources are exploited for the
Common Good, can look after their
own and in so doing, the
whole country can benefit. Funds to help all our Irish emigrants
need not be taken from the
current budgets. All the
present furore is happening while our citizens are investing billions
abroad and International oil companies are lining themselves
up to relieve us off billions more! Some obvious budgetary matching
and should to be done.
have written much about the
Hydrocarbon resources lying off our coasts. Our emigrants are dying in
overseas, while we refuse to invest and reap the
profits of oil/gas production off the
Mayo coastline. In desperation, I have now written a short story of
happening as seen from a fictional planet named Xlmn.(click)
Please find story enclosed.
Vision and ‘riches in tandem with the
fastest falling birth-rate in the
world’ seemed to be the
trade of your comrades at the
cabinet table. We are living in a virtual world; you transfer 150 jobs
Mayo while presiding over a drop in the
number of pupils in Mayo National Schools (8 yr. cycle) of 4,300
over the last 17 years.
Your table has not a monopoly on
losing a grip on reality! Pension Fund Managers etc are not able to
changing macroeconomics in the
of an acute 40 year old demographic disaster hitting the
rest of the Developed world
world trade). Two years ago, I wrote to: national papers, banks, IFCS
companies, government departments, political parties, universities,
warning them of the
creeping Global financial meltdown. I did not want Ireland’s
pension (50% state
subsidised) funds to be among the
financial losers. You see, I think like the rip-off merchant except I shudder
because I see
as the prime targets.
commissions, bonuses made sure that no notice was taken of such advice.
Cutting is enclosed! Our country could
have saved €15bn, yes billion, that’s right! Advisors to Greenspan,
McCreevy did not even consider the
on which I based my forecasts. Birth-rate (world demand) is collapsing;
ignorance of the balancing
demand and share price, pension savings are encouraged by governments.
is that Growth is the
stone of Capitalism. Negative growth =
fiddling of books, lies, balloons = Pension fund values disappear!
Discount the wealth of a
childless nation, you get zero
value! Let us cop on!
Read the Xlmn story
will keep my fingers crossed that one influential Irish person in
four million may take heed! My efforts to date appear to be ‘in vain’;
all I have left. Seamus Heeney when writing a poem on South Africa
and Nelson Mandella, had the
“History says, Don’t hope
On this side of the
once in a lifetime
longed-for tidal wave
Of justice can rise up
And hope and history rhyme”
Irish will have a lessor representation in Brussels after the
EC enlargement than Mayo ever had in Leinster House! This fact was
in Mayo Yearbooks before the
agreement was passed. Your big problem will be how to pull the wool over the
eyes of the Irish
skills than were ever in Mayo are needed. Go make your mark where you
more influence and try and work your cabinet colleagues around to
harness the oil money to
help our own Irish citizens at home
and abroad. Forget about inward investment from the USA
and possible handouts from the
Just invest & dig! Read the story, Please!
dea ghuÍ i gcÙir na hAth
|17 Oct 2003
Marion Finnucane Show
|Subject: Pension Funds
Pension Funding crisis scenario is arising because our contraceptive
resulting in a collapse of our birthrate. The vicissitudes of the monetary system is not taken into
are being led into a make believe world that is relying on the financial system alone as a saviour for
the Pension Crisis.
Remember! Religious practise is waning.
People will have no scruples in stealing, now that the
eternal flames of hell is no longer a threat. Some recent raids on
saving have been:
stolen from Pension Funds from the
Enron scandals etc.
years ago, the Yugoslav
$12 billion of savings in state owned banks. The Central Bank had $10
in foreign reserves. It was all spirited away with a slight of hand!
was revealed in a major newspaper that Britain’s biggest Financial
Companies take more than £Ster20 billion a year from Unit Trusts,
and other savings products
without the true facts been
revealed to their
customers. This was in addition to published
English Chancellor of the
took £Ster5 billion with a once of tax on Pension Funds.
contention is that Pension Funds will be the
target of Financial Buccaneers etc. In the
EC, immigration is making little contribution to counteracting the ageing of society.
way to guarantee Pensions is to have a sufficient birthrate to replace
as they retire. In this way
Funds can be invested wisely.
birthrate has collapsed over the
last forty years. In the
Developed Areas of the
world the fertility rate in
1960 was 2.68, and 1.57 in
2000, i.e. a drop of 41%, or the
birthrate was 71% more forty years ago, as per United Nations
These areas of the world
c.90% of the world’s trade!
ordinary punter on the
ground is not
informed of the potential
scenario throws up for world disharmony; to put is mildly!
depend on Growth. How can one realistically expect Stockmarkets to grow
with the above statistics.
“Levi Strauss, for example,
complains that the youth
market is shrinking
faster than the company’s
shifting demographics caused it to shut down three European factories
– Newseek Sept 16-23, 2002. It does not take a genius mind to recognise
all other products e.g.
entertainment related, cars etc. will eventually be substituted for
are we Irish, taking up the
marching absent mindedly behind the
Pipepiper of Consumerism etc., especially when stories are leaking back
that the vanguard are in
complete disarray! Capitalism
needs growth so much, that Balloons will be accepted as the
real thing. Big bulky Pension Funds will lose out in the
All this is
as clear as the night is
Why are we choosing to be blind?
|4 Aug 2003
Sent to about 30 Banks in the IFSC
|I was PRO for the Western Care
Association Dublin branch. I tried to encourage some of the Banking
community to attend our Dinner by sending the following letter as a
teaser. I thought they might be curious to hear the view of a guy who
was trying to put the skids on the blind entusiasm of bankers and
politicians. Letter can be read here.
|6 May 2003
Letter to Irish Independent
Losing out our resources
Sir – Mr
Frank Fahey, the Minister
for Labour Affairs and former Marine Minister, is quoted as saying that
adverse decision on the
terminal project in Co. Mayo would have a “severe, negative impact” on the west of Ireland. What’s new!
Mr Fahey is
a member of the Government,
institution that has an atrocious record on infrastructure and business
development in the past 80
years in the west. It
amazes this writer that our leaders do
not recognise the great
loss to this
country that neglect of the
on the population numbers
economy of this country e.g. billions of pounds of fishing revenue
foregone in the 20th
Century. Now we are stand to
repeat the same mistakes
massive streams of revenue by seemingly allowing the
unfettered foreign owned exploitation of our hydrocarbon resources
throughout the 21st
in regards to the current
with the gas terminal
project is a
continuation of this apathy towards the
development of a viable and profitable business situated in Co. Mayo
and the western coastline.
It is an industry outside Dublin
that would greatly
benefit the whole country
some of the mushrooming
that is being poured into that city. The west down through the years has too many people or not enough
depending on which glib answer suited Leinster House.
beyond time that the
Government took the bit
between their teeth in
regards to the
exploitation of resources off the
west coast. Without a hands on approach (investment via a national
petroleum company), the
will continue to be ripped off! The Government should insist that all
of rigs should be carried out from Irish bases.
hydrocarbon taxation deal is recognised as the
most favourable achieved by the
multinational companies anywhere else in the
world (see paper Profitability and
taxation in the UKCS oil
industry: analysing the
of rewards between company and country by Ian Rutledge and Phillip
University of Sheffield). The Norwegian government through intelligent
investment have at least a 50% interest in oil fields in their
sector of the North Sea. They invested heavily before they
even found oil or gas. They now call the
shots and can insure that their
people get A1 environment policies. <>
We in Ireland will continue to make a mess of
our resources, if we continue to put the
blame on a few concerned people trying to insure that we get the same consideration for our environment
that the citizens of Norway
have. These people are
branded as misguided and possessing a lack of understanding of the overall gas development concept. The lack
concentrated interest of the
authorities is personified in Pipeline
to the West splashed across a full
page of our national daily papers. They were advertising the
path of the proposed new
pipeline that they hoped
eventually link up to the
names spring to mind from across the
world: the Alaska
gas pipeline; the Tibet pipeline; Sable offshore pipeline
project; the Caspian
pipeline; Russia to
pipeline and so on,
named after the region from
which the future gas is to
originate from. <>‘Reverse
flow’ is obviously another concept
that we 'culties' are ignorant off.!
Letter to Alive Newspaper
of falling birth rate
Dear Editor - Levi Strauss complains that the youth market is shrinking
faster than the company's jeans: shifting demographics caused it to
shut down 3 European factories in 1999 (Newsweek 16/9/02). Fiat the
main car manufacturer in Europe is to lay off tens of thousands of its
workforce. The fall in attendance at Irish national schools between
1985 and 2000 was 122,754. Primary school is an 8-year cycle; so the
total drop in the under 20 age group will soon approach 250,000.
The collapse in the birth rate causes a drop in demand for clothes,
food, education, and so on. Europe is 20 years ahead of us along this
road. The emphasis on growth areas in the Government's Spatial Strategy
plan just papers over the cracks in our society.
My hometown, Kiltimagh, Co Mayo recently lost one of its most stable
employers, Mack's Bakery & Confectionery. Rural Ireland can expect
the same in the coming years.
The richest countries of the world will be inhabited by old people. A
fleeting prosperity based on a falling birth rate is human nature at
Piece in the Irish Times
Needs of Mayo’s economy ‘being
Association has added its voice to demands for a review of terms under
mineral exploration companies work off the
Irish coastline. <>
association, which comprises over 7,000 members worldwide, says it is
about an “endemic” lack of interest in potential opportunities off the west coast. Previous governments’
fishing resources off this coastline “does not indicate a good track
record”, the association
says in the
editorial to the current
Association Year Book. <>
very strongly, now that the
economy is thriving, that Leinster House should be seriously positive
out to reverse the great
towards creating employment in Mayo throughout the
20th century”, the
year book editor, Mr John F Higgins, says. <>
questions the Government’s
to weigh up and analyse the
tremendous opportunities being opened up by the
hydrocarbon exploration now carried out around the
Orkneys, the Rockall basin
and down the west coast”.
association compares the
here with Norway, a
which gained its independence as a similar time to Ireland
and one with a similar
population size. “Both Norway
and the United Kingdom encouraged involvement
coastal communities, notable around Stavanger
The Norwegian government now has a net reserve built up of €75 billion
for the benefit of its
government went through difficult times with its various investments,
but it never
gave up because it had patience, belief and was not in too much of a
were horrified during the
learn that the Irish
off their interest in the Irish National Petroleum Corporation
(INPC) to a US
company, Tosco.” <>
of the Year 2002 has been
Mr Johnny Mee, Castlebar, for his work on providing facilities for
|23 Jan 2002
Sir, - At
last, the politicians
seemed to be
acting in the interest of the people who elected them.
They have finally woken up to the
wealth that will be generated from the
proceeds of the Hydrocarbon
off the west coast of Ireland.
area that has all but been ignored by the
20th Century. This apathy resulted in other
nations reaping the benefit
vast fisheries. Should we the
politicians in question are from Italy.
30% of the
oil group, ENI. This company has recently made a play for Enterprise
Berlusconi, much maligned Premier of Italy, may not be too enthused
about the Euro; buy he
certainly has a nose for when to
pounce on a potential good income stream! What are the
odds against the Italian
receiving a Euro dividend from Irish oil/gas production long before the citizens of his country see as much as
note by JFH
Westminster Government was sent into a tailspin by the
above move by ENI. The Minister concerned publicly expressed his
with the Italians. He has
Shell (An Anglo Dutch Company) to row in with a counter bid foe
This saga is not over yet! The whole world appears to realise that the assets of Enterprise Oil are worth
|2 Jul 2001
Letter to Irish Times.
- I first became aware of Northern politics in the 1960s, when the Rev
Ian Paisley wailed about the Republic as been ruled from Rome and gave
the impression that this was the biggest obstacle to opening dialogue
with Free Staters. Since then the South has changed utterly. We have
rejected much of the teaching of the Catholic Church. We have abandoned
our claim to the Six Counties. We have nothing left on which to
compromise, except maybe to fly the Union Jack (currently suffering its
own identity crisis!) over the GPO.
Trade between Britain and Ireland is running at record levels. Many of
our businesses are subsidiaries of British companies. We have no
problem identifying with the victorious exploits of Manchester United
Yet Paisley is still moaning.
We have heard about poor losers; but a leader who does not realise that
he has won creates a climate in which good men on all fronts perish.
Maybe he should change sides and start all over again.
did I know what
was to happen. He became First Secretary with the majority of
Republicans politicians reporting to him!
Many of his
own Ulster Loyalists were outraged. See
See also above
|11 Apr 2000
Letter to Irish Times
– Dr Garret Fitzgerald, our former
Taoiseach, stated in your March 4th edition, that ‘the number of 18 year olds has already
fall: it is 2,000 lower than a year ago, and within the
next three years, there
will be a
further drop of 7,500 in the number of young people attaining that
wondered from what source future workers would come from! ------------------How
about entering a period of
consolidation and reflection! Open our eyes and minds! Carry out a
review of the effects of our great economic achievements
a long term social point of view; ask as to what kind of society do we
bequeath to future generations of young Irishmen and woman? What
actions can we
instigate now to fulfil our hopes and desires? See rest of letter here
|8 Mar 1999
Sent to one of our newspapers.
articles and editorial content published in your newspaper is pure
Content focuses mainly on the
current of the massive
that is sweeping over our small island. You are not reaching the serious undercurrents that will engulf
society, and destroy the
ethical and Christian ideal (never mind the
Roman Catholic ones), that is our inheritance. I refer to
:The modern phenomenon
starting in the late
seventies to the middle
eighties of a house mortgage needing two
incomes to service it. Our Grandparents had to do without this dubious
because begetting children could put the
Indian sign on the
schedule based on the
second salary. SEE rest of letter here
|2 Apr 1998
It was very fitting that Mr John O’Loughlin’s letter, in which he
Desmond Connell outspoken criticism of the
‘greed’ of property speculators, appeared on April Fools Day. It
not only the above
personnel are arriving at a false diagnosis as to cause of spiralling
prices, but every latter day Economist.
liberalised modern Irish couple works full time outside the
home. They can plan their
in accordance with their
juggle work and the rearing
children. Accordingly, the
rate has fallen by over 25% since 1980. (In Europe,
where liberalisation! took place earlier, the
birth rate per head of population has decreased by 40% since 1964,
today’s crises over pensions).
We have a
free economy dictated by the
marketplace. The demand for bigger and better houses is increased by the greater ability of couples to pay
mortgages. Land speculators, lending institutions, employers, religious
(sale of land): they all
from the above situation.
concerned that the ‘Tiger’
|19 Apr 1997
Sir - The ESRI in its recent book Welfare Implications of Demographic
Trends (April 15th) appears to give a very rosy picture of the Irish
economy over the next 10 to 15 years. Is it looking at the full
picture? We are no longer a stand-alone economy and are rapidly
relinquishing much control to Brussels.
The Maastricht agreement, along with the pending single currency, will
copperfasten the shrewd pension investment in our economy by our
European neighbours. The EC is rapidly becoming a joint retirement
home. The elderly will represent nearly 33 per cent of the population
between the ages of 15-64 by the year 2020. This figure does not appear
to include the recent victory of the French truck-drivers, and others
who won the right to retire at 55 years! Most pensions in Europe, as
distinct from Britain, are paid from the national exchequer.
Ireland's birth rate has fallen by 27 per cent in the period 1980 to
1996. Is it time to wipe the dust from our eyes and question the
balance of the EC's present affluency with the ability to survive.