Wow. What a great idea. Don’t pay back loans. Then look at how easy it becomes to get a loan in the future. And look at how great the interest rates are.

Sorry Sean I noticed your link but had to call you up on it. Only a few months ago it was trading at 1900usd per ounce, and as at yesterday was 1611 per ounce. That’s a significant drop.

Thanks Tom.
It was the content of the article rather than the price of gold I was referencing.

Highly dysfunctional economic model? Not for me. I’m ok.

I’m sure you are fine Tom.
The same can’t be said for the 400,000 plus that can’t find work or the families and businesses that can’t get credit from state subsidised banks.
Meanwhile, the incompetent idiots that run this country continue to prop up Nama, which was supposed to free up credit but has become a very expensive and ineffective farce.

All true but still a long way short of a “highly dysfunctional economic model”.

Hugh numbers of businesses are doing fine. Most individuals in trouble were in relatively low skilled employment but aspired to 5 star lifestyle. I know plasterers who went skiing but now can’t afford their mortgage. It has more to do with individual greed than any systemic failure. It was normal human failings which lead to the crisis.

There’s nothing new under the sun. If you can solve human flaws such as greed and complacency, then fair play, but you’ll be the first person in history to do so.

Btw still wondering why you added the link abiut gold. It wouldn’t appear to support your point.

Thanks Tom.
The subject of the article above relates to Irish bank bailouts rather than gold. Perhaps there’s a problem with the link.
I’ve attached here a shorter similar article from the same author.
http://www.cobdencentre.org/2011/04/ireland’s-announcement-of-a-fifth-bailout-demonstrates-that-bailouts-cannot-work/