Morgan Kelly's latest article

ccbkd said:
Top sentance is well, just ridiculous! the majority of AAMer clearly want Morgan Kelly's argument to be proved false by debate or other opinion.. so far we get John Bruton's clearly pro-banking statement in yesterday's Irish times... the opinions on blogs below piece are generally scathing. I have seen nothing else from any other economist yet that clearly knocks out Kelly's argument..the tiresome arguments on offer here do little to presuade.
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I know it is; it is a summary of your post #35.

I don't care which person has the right answers, but I would hope that people like Kelly would like to help during the crisis, rather than be proved right again after it.
I don't expect anyone on AAM to provide a better argument than Kelly, it's just that if it is a solid argument then why can't he answer questions on it himself?
 
I thought NAMA was worth nothing... i.e, it's self funding.

They borrowed 80 billion say, to purchase 160 billion worth of bad loans, which are worth 80 billion now, and which they paid 80 billion for.
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Forget about what NAMA has paid for anything. If NAMA sells all it has in the morning they would get some money from their assets. He (Gurdy) was pointing out that NAMA would generate nothing so write off anything that could be salvaged. For what it's worth the other guy was painting all to be rosy and I don't agree with that either.
 
shnaek said:
I think people still haven't woken up to the fact that the country is in serious trouble. Kelly's articles provide the shocks that Irish people need to wake us from our slumber.
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I do believe most people are slumbering or in denial. Well the people who have kept their jobs or haven't emigrated yet. They just think the problem will go away if they ignore it. Maybe its the best approach but I dont think so.
 
Teatime said:
I do believe most people are slumbering or in denial. Well the people who have kept their jobs or haven't emigrated yet. They just think the problem will go away if they ignore it. Maybe its the best approach but I dont think so.
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And those people live in a little bubble where they dont have friends or family that have taken paycuts or lost jobs? They live in a bubble where the news media everyday doesn't cover the economic doom and gloom? They live in a bubble where they know their jobs are safe?
 
If anyone wants a good laugh or a blood boiling experience in sheen ignorance and irrational arrogance you should check out Morgan Kelly's appearances on primetime (Youtube) in 2007 with Jim power from Friends last and Brendan Keenan's appearance in 2008 after bank gaurantee, God Keenan and Power now look like seriously daft uncredible individuals, and Kelly is at his prophetic best! Human irrationality truly is an amazing thing!
 
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