This is why I say anyone who considers macroeconomics

[Islandman]

a real science with provable theories is fooling themselves. Most of the solutions are guesswork based on data which may or may not be relevant to the crisis or problem being addressed.

A few years ago Ireland was the so-called Celtic Tiger, to be studied and replicated by all underperforming economies. Today they are a bankrupt nation who did everything wrong, and everybody should have seen it coming.

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Ireland $164B rescue in works: UK Sunday Times


TEL AVIV (MarketWatch) – The International Monetary Fund, European Union and European Central Bank are preparing a 120-billion-euro ($164 billion) bailout of Ireland, requiring the country to raise taxes and nationalize more banks, the Sunday Times of London reported.


NATO leaders agree on Afghanistan deadlineNATO leaders in Lisbon have agreed a deadline to hand over control of security in Afghanistan by 2014. Video courtesy of Sky News.
The plan, which would exceed the 110-billion-euro bailout created for Greece, could be unveiled as early as Monday morning, the paper reported.

Ireland’s cabinet is meeting in an emergency session this weekend to complete a four-year budget, the paper reported. The budget is also set for release this week, the Sunday Times reported.

A property tax of 500 euros a house plus more public-sector cuts are expected to be part of the plan, the paper said.

A team that is figuring out how to restructure Ireland’s banks is also developing a proposal for a wealth tax on the country’s richest citizens, the Sunday Times reported.

France and Germany are pressuring Ireland to raise its 12.5% corporate-tax rate, the paper reported.

And the EU is expected to guarantee bonds issued by Irish banks and to extend that guarantee across Europe to prevent speculators from going after Portugal or Spain, the Sunday Times reported

[Don1]

a real science with provable theories is fooling themselves. Most of the solutions are guesswork based on data which may or may not be relevant to the crisis or problem being addressed.

A few years ago Ireland was the so-called Celtic Tiger, to be studied and replicated by all underperforming economies. Today they are a bankrupt nation who did everything wrong, and everybody should have seen it coming.

Their original development model was fine.... and does have positive lessons. I believe.

Their success & "sudden wealth" just went to their heads...mek dem giddy. They started to ACT like a global player....gambling on a huge level with money games...turning their economy into a glorified casino.

Nouveau Riche/Lottery Winner mentality

For a development model Jamaica need look no further than Barbados... an economy built not by Showa or Powa.... but by Education... 100% literacy

Under those conditions people tend to make more good decisions than not.

Education mi seh... Not Lattes

[Islandman]

I hear you and agree to an extent. I guess what I am saying is that whenever there is a success story you see it being touted as the ultimate solution for everybody, as if there are not specifics as to why it may have worked in that situation and at that time.

Sure there are always useful lessons from other experiences, just don't develop tunnel vision and not look more closely at the environment it worked or did not work in. The media is famous for doing that.

Take for example the more govt stimulus vs lower taxes debate, it seems to me that it is quite possible for one option to work in one situation or one envrionment, but have no impact in another. It could be the culture, the mood, the implementation or something else that we cannot quite identify that will make one option work or not work in a particular situation, and the economists really cannot usually tell until after the fact, if ever.

To this day there are still major debates about what caused the Great Depression in the 30s to last at long as it did. I believe the same thing is occuring for the Japan's Lost Decade of the 90s.

[Don1]

I hear you and agree to an extent. I guess what I am saying is that whenever there is a success story you see it being touted as the ultimate solution for everybody, as if there are not specifics as to why it may have worked in that situation and at that time.

Sure there are always useful lessons from other experiences, just don't develop tunnel vision and not look more closely at the environment it worked or did not work in. The media is famous for doing that.

Take for example the more govt stimulus vs lower taxes debate, it seems to me that it is quite possible for one option to work in one situation or one envrionment, but have no impact in another. It could be the culture, the mood, the implementation or something else that we cannot quite identify that will make one option work or not work in a particular situation, and the economists really cannot usually tell until after the fact, if ever.

To this day there are still major debates about what caused the Great Depression in the 30s to last at long as it did. I believe the same thing is occuring for the Japan's Lost Decade of the 90s.

true dat boss.... one has to look the Gift Horse in the Mouth...even if it's a Gelding

[Muadib]

dem don't drink Latte in Barbados ?

Brown and White Man Time !

"In any country, even one that has little evident racial difference within its borders, segregation is rife and is very much the norm. Many studies have shown that people gravitate toward those whom they feel are alike. That can largely be racial or colour based, but it can also be social and economic. So, for example, people will band together for religious reasons--it makes sense if one wants to build a congregation. Such banding together can take on a momentum of its own and that can be good for those who are 'included' but be a basis of friction with those who are 'excluded'. So, in places like England, Europe, the USA, there will be areas that are known to have high concentrations of Jewish people or some clear ethnic group, who perhaps arrived as immigrants and made their home in a neighbourhood, which attracted other similar migrants and on it went. Hence, you get areas such as 'Little Italy', 'Chinatown', 'Little India', etc. There is now even an interactive map that allows you to identify such social concentrations in the UK. Depending on your preferences, that can help you find or help you avoid certain types of people.

Within the world of race and racial issues, Barbados can often seem peculiar--not unique. The country is predominantly black (of African origin), and for centuries was run by whites (Britons of various origins). Over time, economic and political power resided in the hands of whites. From its independence in 1966, political power was transferred from whites to black as the British withdrew as colonial masters and handed this over to elected representatives who were mainly from the black majority. Economic power in Barbados, however, tended to remain concentrated in the hands of a few white families. In recent years, that has changed to some degree as one of Barbados' neighbours, Trinidad, gained economic power and looked to expand and diversify its economy: Trinidadian-owned companies have been buying into the Barbadian economy. While that has changed the colour of some economic power in Barbados, it has also introduced a different racial element, which is illuminating because it shows that racism is not first and foremost about colour."

[Assasin]

There is a lot going on in Ireland. The Irish workers were taking advantage bigtime and like the US there was huge housing boom which went bust.

Nuff of the IT companies that moved to Ireland are now moving to Poland.

They are in real trouble. Yes it is good to study these cases and see the positives as well as the negitives. I can remember one Ja columnist who think we should use the Irish model.

[Mosiah]

source?

[Muadib]

Dennis Jones.

[Mosiah]

who him?

[Muadib]

one breddah dat live ovah deh..

[Islandman]

Someone who studied in Barbados told me that one of the things that was striking to him about the country is that there was not a lot of brown people like say, JA has. There was white and there was mostly darker skinned black.

He said once he took part in a football league and one or two of the teams were 100% white. I expected that more for cricket but not football in the Caribbean.

[Mosiah]

well, me is one smaddy nah read it cause mi nuh know a who him and who him write fah.

thanks anyway!

[Muadib]

your loss...

[Assasin]

the fact is everywhere have their racism and classism even the grand ole China.

People a gwaan like because certain country a progress they have no racism.

[1of1]

three card mi say, razzle dazzle mi say