there is nothing so unattractive as a man saying i told you so

Jim Power the Chief Economist at a financial institution styling itself Friends First, has told The Daily Mail that he is "sick and tired" of people claiming to have predicted Ireland's current economic collapse.

Jim Power tells the Daily Mail that only business journalist Richard Curran and Univerity College Dublin economist Morgan Kelly are entitled to make that claim.

Jim Power says that Curran and Kelly "predicted a property crash," on an RTE programme where Power was also a guest, back in 2007.

Okay.

Let's be clear.

Predicting a property crash as it was happening is not the same as predicting the total economic collapse of the country which is happening now.

Jim Power, who is part of the problem, namely an employee of a financial institution that pays hundred thousand dollar salaries and bonuses to people for doing notional work, an institution that produces massive profits only through the miracles of modern accounting, Jim Power I say, is not in a position to even express an opinion about the economic collapse which has been caused by the culture of corruption in the banking and stock exchange sectors, to wit by him and his friends.

Here is the news.

Back in 1999, I wrote in a now defunct provincial newspaper called the Leinster Leader, that the notion of a Celtic Tiger economy in Ireland was a lie.

(The Leinster Leader was profitable up until the eve of my firing by new owners Johnston Press in November 2007.)

More than ten years ago in the Layman Finance column in the Leinster Leader, I pointed out that employment in Ireland was being concentrated in non producing State sectors of the economy, teaching, nursing, policing, the unCivil Service, et al, particularly Al, I hate him, and that our government had allowed this sector to become congenitally debilitatingly trade unionised, and that this same government was caving in to every extortionate demand the cops and the nursies and the teachers could think of.

I noted that the national debt was at levels that would frighten an oil rich civil war fighting third world dictatorship.

Now some of my more trenchant warnings were pulled by editor Mick Sneeran.

But what you've read above was published.

I gave it my level best.

In the immediate aftermath of my article, our corrupt kleptocratic Fianna Fail government published figures which they claimed showed a record decline in our national debt.

I was not in a position to refute those figures.

I had egg on my face.

It would be years before it emerged that Fianna Fail had claimed a fall in the national debt by using accountancy tricks, namely by transferring money from supposedly untouchable pension funds and writing it off against what we owed internationally.

As a result Ireland currently has no ability to pay pensions into the future.

There is a black hole looming over anyone set to retire.

We just have no money.

And yes, our national debt is still at record levels because of the extortions carried out by the teachers and the nursies and the cops.

Not by the banks mind.

I say the bankers, the board members of Allied Irish Bank, Bank of Ireland, Trustees Savings Bank and especially Fianna Fail's personal financiers at Anglo Irish Bank, all of them should be in jail.

They are corrupt.

But it is the teachers and the nursies and the cops and the State Sector generally who have pushed our national debt into the stratosphere.

Don't worry about the banks.

In spite of the con job Fianna Fail is attempting to pull, your money is not going to go towards bailing out the banks.

The entire currency will have collapsed long before then because of what the teachers and the nursies and the cops are doing.

Jim Power and his friends warned you of nothing.

I did warn you.

And you know.

Even now.

If the thieves in the State Sector would just stop thieving in the name of their children, (they all say they do it for their children), if they'd just stop.

We could survive this economic collapse.

Without civil war

Withou starvation.

Without total societal collapse.