http://www.markingtime.org/blog Mark Time. Gather My Thoughts. Talk to myself. Tue, 08 Apr 2008 07:56:46 +0000 http://backend.userland.com/rss092 en Making Light: Heads they win; tails we lose [1] "Privatize the profits, socialize the losses"�. In Ireland this is how we run the health service and the construction industry, among others. (tags: economics [2] Ireland [3] Politics [4]) [1] http://nielsenhayden.com/makinglight/archives/010125.html [2] http://del.icio.us/mtcw/economics [3] http://del.icio.us/mtcw/Ireland [4] http://del.icio.us/mtcw/Politics http://www.markingtime.org/blog/2008/04/07/links-for-2008-04-07/ However, the bank has welcomed the dip in construction activity and fall in property prices, saying that this will lead to a more sustainable market. RTE Business, April 5th, 2008 Yeah, because if the bubble went on too long it would have had disastrous long term results. Oh wait. http://www.markingtime.org/blog/2008/04/04/its-all-about-timing/ Crooked Timber - Bertie finally bows out [1] Nice summary. (tags: Politics [2] Irish [3]) [1] http://crookedtimber.org/2008/04/02/bertie-finally-bows-out/ [2] http://del.icio.us/mtcw/Politics [3] http://del.icio.us/mtcw/Irish http://www.markingtime.org/blog/2008/04/02/links-for-2008-04-02/ ...as we abandon the good ship Celtic Tiger. The letter was sent to Mr Martin, five years before exposure of the blunders. It warned that although Portlaoise was the designated breast cancer centre for the midlands in 2001, it was still without key staff. Mr Naughton detailed how no appointments had yet been made of two surgeons, a radiologist with a special interest or expertise in mammography, nor a histopathologist . "Indeed they have not even been advertised or has any discussion take place with me as to what will happen in the future. "We do not have an oncologist in the Midlands ; we do not have a consultant radiotherapy delivered service in the Midlands." Mr Naughton said he had written to senior management "about seven times" in the past two years outlining suggestions to deal with the problems. Irish Independent, 7 March 2008 [1] The controversy over class size represents the latest challenge for Ms Hanafin, who has been criticised in recent weeks for her record on autism education. Last night the department said the various commitments in the programme for government were predicated on continuing strong economic growth. But with the budgetary position tightening, the Government was not in a position to meet all of these commitments. It pointed out that reduction in class size had already been made in each of the last two years. Irish Times, 7 March 2008 [2] [1] http://www.independent.ie/national-news/harney-hit-as-missing-cancer-care-letter-found-1308971.html [2] http://www.ireland.com/newspaper/frontpage/2008/0307/1204843531733.html http://www.markingtime.org/blog/2008/03/07/women-and-children-first/ Live at the Paradiso Artist: Albert Niland Rating: 4 out of 5 Media: CD Year: 2007 Another gem from Albert Niland [1]. A few years back Albert released an excellent live album A Night in Dublin. The album featured a mix of covers and original compositions and some fine accompaniment. It's a must-have. Live at the Paradiso is again mostly live but this time there's no covers and no backing, it's all Albert all the time. And that's all you need. He's got a unique guitar style, a powerful delivery, and a song-writing style all this own. It's a bit of a grower, not as instantly appealing as A Night in Dublin, but once you're there there's no going back. 4Another gem from <a href="http://www.albertniland.com/base.html">Albert Niland</a>. A few years back Albert released an excellent live album <i>A Night in Dublin</i>. The album featured a mix of covers and original compositions and some fine accompaniment. It's a must-have. <i>Live at the Paradiso</i> is again mostly live but this time there's no covers and no backing, it's all Albert all the time. And that's all you need. He's got a unique guitar style, a powerful delivery, and a song-writing style all this own. It's a bit of a grower, not as instantly appealing as <i>A Night in Dublin</i>, but once you're there there's no going back. [1] http://www.albertniland.com/base.html http://www.markingtime.org/blog/2008/02/15/to-the-beat-of-heavens-jubilee/ I don't know much about economics but I've always been curious as to where the tsunami of cheap money that fuelled the Irish housing boom came from. I wonder did this open the gates - the Asset Covered Securities Bill, 2001: The purpose of this Bill is to allow international banks based in Ireland and domestic banks and mortgage providers to access international capital markets on the most competitive terms and in doing so to underpin the strength of the Irish financial system and the continued attractiveness of Ireland as a base for financial institutions. To do this, the Bill provides for the introduction of new financial instruments - the asset covered securities of the title - by Irish institutions into the euro zone market. These securities will be backed by assets held by the institutions concerned, in particular, mortgages and public sector loans. Martin Cullen, Minister of State (Finance), 23rd October, 2001 [1] And then this: It was almost as if the demand for that paper created the mortgages...[c]alled forth the loans, because it became a really profitable business. You saw where you could issue these liabilities. Say, I could issue these liabilities at a weighted average cost of LIBOR [London Interbank Offered Rate] plus one-fifty, and I know all I have to do is just push that money out the door, push that money out the door, LIBOR plus three hundred, and I�ll make a huge amount of money from doing that origination activity or just on the equity piece that I keep, which is highly, highly leveraged. The person who really knows the mortgages is not the person who is really taking most of the risk. The person who is taking most of the risk is the kind of undifferentiated mass of buyers out there. Anonymous Hedge Fund Manager, n+1, 7th January, 2008 [2] The person who is taking most of the risk is the kind of undifferentiated mass of buyers out there. Now who might that be I wonder? [3] [1] http://www.irlgov.ie/debates-01/23oct/sect4.htm [2] http://nplusonemag.com/hedge-fund-interview.html [3] http://www.independent.ie/national-news/house-prices-to-fall-by-5pc-but-pickup-on-the-horizon-1276376.html http://www.markingtime.org/blog/2008/01/29/the-money-trail/ These strike me as linked in some way: This is the thing, you know. We have money, but feck all to spend it on, when you think about it. I mean, if I lived in Paris, I wouldn�t need ten houses and four investment pads because there�s so much other - cute - nice stuff you can spend it on. Winds and Breezes, 13 January 2008 [1] To replace a notion of ourselves as workers who strive to increase pay and rights with that of consumers erodes the little power we have with in society. Because as consumers we are entirely passive � the collective power of consumer demand is a myth and any power that one may have as an individual consumer is dissolved by the manipulative efforts of producers, advertisers, and somewhat down the pecking order, feature writers for glossy magazines. Dublin Opinion, January 16, 2008 [2] It seems to me in Ireland today we are not making good choices. Rather then using our new-found wealth to solve problems and build a better place to live we are using it to cope better with the problems we already have. We seek refuge and comfort in short term fixes but seem incapable of a larger vision. Our wages have increased but we still struggle to control our lives with the pressures of house prices, childcare, depression, alcoholism, social disconnection, and more, all pushing in on us. We meekly bow down and accept that �that�s the way it is�. Marking Time, June 17th 2004 [3] I also note there was a time I could string two sentences together to make an almost coherent point. [1] http://www.windsandbreezes.org/?p=932 [2] http://dublinopinion.com/2008/01/16/in-defence-of-consumerism-the-dubliners-opinion/ [3] http://www.markingtime.org/blog/2004/06/17/the-freedom-to-make-the-wrong-decision/ http://www.markingtime.org/blog/2008/01/18/running-to-stand-still/ Easily Distracted : Blog Archive : Competency as a Cultural Value [1] Might explain why people vote Fianna F�il. (tags: Irish [2] Politics [3] culture [4]) [1] http://weblogs.swarthmore.edu/burke/?p=483 [2] http://del.icio.us/mtcw/Irish [3] http://del.icio.us/mtcw/Politics [4] http://del.icio.us/mtcw/culture http://www.markingtime.org/blog/2008/01/05/links-for-2008-01-05/ [1] Looks like it got caught in some rope, managed to chew its way free but wrapped the rope around its neck and was strangled. [1] http://www.flickr.com/photos/markwaters/2166556635/ http://www.markingtime.org/blog/2008/01/04/dead-seal-old-head/ Can you conjure up that feeling you had the first time you thought of Santa Claus - the very idea of him? Start with that feeling. That feeling is real. http://www.markingtime.org/blog/2007/12/25/that-feeling-is-real/