Compared to the crash of 2008, the next crisis will actually be even worse

Online EditorArticle, Gallery

By Cormac Lucey It is 10 years since the Irish government’s fateful decision to guarantee the liabilities of the Irish banks. That rubber-stamped the country’s plunge into financial disaster, following the collapse two weeks earlier of Lehman Brothers, which kickstarted the international financial crisis. As with all meltdowns, there had been plenty of warnings. The share price of Bank of … Read More

Short-term professional politicians are unwise to drop unpopular austerity

Online EditorCampaign, image, info, webLeave a Comment

By Cormac Lucey Having been at the top of politicians’ priorities for the past decade, austerity is fast falling out of fashion. Our new Taoiseach, Leo Varadkar, wants to boost infrastructure with his predecessor’s rainy day fund. Donald Trump wants to stimulate American economic activity by cutting taxes. It has even been reported that a split has emerged in the … Read More

BIS Storm Warning – is the Cult of the Central Banker about to End?

Eamon Delaneyimage, infoLeave a Comment

By Cormac Lucey, in the Irish Sunday Times, 20 December 2015 The public mood searches for simple beliefs, regardless of whether they are justified. A century ago, homosexuality was regarded as a bestial crime; today it is regarded as normal. Forty years ago, central state planning of the economy was regarded as destructive; today central bankers are celebrated as folk … Read More

Do we face a recession made in China?

Eamon DelaneyUncategorisedLeave a Comment

By Cormac Lucey in the Irish Sunday Times,  9 Nov  2015 Central Bank Governor Patrick Honohan was quite right to warn the government of an overly generous budget. In an August letter to Finance Minister Michael Noonan, Honohan warned of “the danger of using windfall fiscal gains to justify long lasting spending commitments.” Similar advice was heard from the Irish … Read More

Eamon DelaneyCampaign, info, webLeave a Comment

Letter from the Chairman, no 14 Stockholm October 29th 2015 Dear members and friends of the World Taxpayers Associations! The world is becoming a better place to live. The progress is dramatic. Hard to believe with all the hypothesis around the “climate change”. The best news is that for the first time in history the ration of “extreme poverty” has … Read More

Real challenge for new Central Bank Governor is ECB not Ireland

Eamon DelaneyCampaign, info, webLeave a Comment

By Cormac Lucey in the Sunday Times, 25 October 2015 In 2001, an RTE show voted Thomas Kenneth Whitaker the Irishman of the 20th century. This contest saw him defeat Michael Collins and several other revolutionaries. In many ways he represents Ireland’s ideal of itself: educated, restrained, polite yet still patriotic. By contrast, people such as Collins come across as … Read More