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xxEmaeraldxx's Journal


xxEmaeraldxx's Journal

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PROFILE




29 entries this month
 

12:50 Oct 28 2010
Times Read: 859


Just wishing everyone a Happy Halloween, and that I hope you will enjoy the holidays :) I am off globe-trotting again, as some of you will know it is impossible to tie me down to any one place for too long! See you all in a few weeks :) *waves* x


COMMENTS

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Nightgame
Nightgame
14:19 Oct 28 2010

Happy Halloween and Blessed Samhain to you too sugar, have a great trip be safe and have fun.





KattrinaK
KattrinaK
20:30 Oct 28 2010

Ohhh....happy Holiday bits!





 

23:10 Oct 26 2010
Times Read: 910


Do you know how hard it is for me to be nice to someone when all I really want to do is slap them one? Well, tomorrow is one of those days at work and I will, I will, I will try very hard to be professional ..but that might be difficult considering the way they messed things up for me. Don't you just hate it when you go all out to assist someone, and then to have it thrown back into your face? hnnn mmmm, yup one of those kind of days tomorrow.


COMMENTS

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PandorasBx
PandorasBx
01:30 Oct 27 2010

Boy do I ever *sighs*. Good luck sweetie..





xxEmaeraldxx
xxEmaeraldxx
17:51 Oct 27 2010

Well it didn't turn out that bad, thank goodness!





KattrinaK
KattrinaK
20:29 Oct 28 2010

amen!





 

PRIVATE ENTRY

23:35 Oct 25 2010
Times Read: 916


• • • • PRIVATE JOURNAL ENTRY • • • •


 

Leap Castle, and the Crucifix in the Minstrel's Gallery (residency area of malevolent spirit)

07:24 Oct 25 2010
Times Read: 964


This is the most haunted castle in Ireland. Leap Castle, it is truly a very scary place and is meant to be haunted by a malevolent spirit. I could not stay inside very long as I felt ill in there. I have taken the outside and the inside photographs of the Castle including the bloody chapel, but haven't shared them before. These I have decided to share now and will put them up as I get to it. Leap Castle is currently occupied by a musican.









Photobucket





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COMMENTS

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xxEmaeraldxx
xxEmaeraldxx
07:27 Oct 25 2010

Not fantastic pictures I know.. but I was in a hurry to get out! Hubby's shots are fantastic, but I need to find them first!





BLOODLIFE
BLOODLIFE
08:55 Oct 25 2010

Gotta love a 15th century castle. I hope the new owner doesn't change too much when he renovates.





ladySnowStrixx
ladySnowStrixx
15:41 Oct 25 2010

oohhhh I love it , they look so great very spooky.





PandorasBx
PandorasBx
18:09 Oct 25 2010

Soooooo cool, I would love to see a castle.





 

North West Ireland

10:23 Oct 24 2010
Times Read: 1,036


Just some more black n' white images of where I live.. the beach and harbour this time.







Photobucket







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COMMENTS

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PAGAN
PAGAN
10:44 Oct 24 2010

Beautiful. I love them black and white :)





BubbleGumClaudia
BubbleGumClaudia
14:20 Oct 24 2010

I want to come to Ireland and have you and Daire take photos of Moi!!!





birra
birra
14:53 Oct 24 2010

Excellent shots - well done.





Oceanne
Oceanne
15:37 Oct 24 2010

Wow,those are excellent shots E.I can feel the ambiance from here,especially in the second one.

Makes me wonder ..and hope your invitation to come visit is still good.:D I would love to experience that for myself,with my friend.





xxEmaeraldxx
xxEmaeraldxx
17:34 Oct 24 2010

Yes, the invite still stands :) we should maybe try to get a group people interested in coming over.. I have space here :)





BLOODLIFE
BLOODLIFE
18:33 Oct 24 2010

There's something about a b&w picture that captures so much. Simply stunning.





ladySnowStrixx
ladySnowStrixx
15:43 Oct 25 2010

beautiful , another of my favorite countries





 

Heh

20:32 Oct 22 2010
Times Read: 1,091


Maybe it's true!



Photobucket

COMMENTS

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TheArtistRose
TheArtistRose
20:39 Oct 22 2010

LMAO! There better be years after 2012, I wanna live. :P





Celestialdragon
Celestialdragon
21:02 Oct 22 2010

hehehe no kiddin could have been like the worlds first practical joke =P





MrSickle
MrSickle
21:53 Oct 22 2010

lol hilarious





PandorasBx
PandorasBx
22:23 Oct 22 2010

Hahaha! Too funny..





ThothLestat
ThothLestat
04:13 Oct 23 2010

ha!





xxEmaeraldxx
xxEmaeraldxx
10:24 Oct 24 2010

Yea, I laughed so hard at that comic when I seen it that I had to go get a tissue!





Oceanne
Oceanne
15:43 Oct 24 2010

too funny.:D





 

08:05 Oct 20 2010
Times Read: 1,138


I am up early this morning and sitting writing this with coffee in hand. Tired and wishing I was still asleep. Hubby may be going down to Dublin this weekend tripod over his shoulder just like Dick Whittingdon. Thinking I will miss him if he goes, but he will be in good company with another photographer.



He is a good soul and he is off for an early breakfast meeting in council chambers instead of me.. I really appreciate that because I do feel so weary..



Well, by the sounds of it the farm next door has come alive, as dawn has just broken here. Time for me to hit the shower and get ready for work. x x


COMMENTS

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Bellanova333
Bellanova333
16:08 Oct 20 2010

I was actually up early this morning too... it's weird because I actually slept really good last night ahhhh how I cherish those nights I don't get them very often (:





 

20:25 Oct 19 2010
Times Read: 1,204


Just some night-time photographs in black and white of where I live. Again if you want a copy please ask first thanks :)



The streets tell no lies.



Photobucket







Photobucket







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COMMENTS

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MyBloodyKisses
MyBloodyKisses
20:30 Oct 19 2010

Love them! really like the honesty of the photographs :)





xxEmaeraldxx
xxEmaeraldxx
21:10 Oct 19 2010

Emmy thinks.... yes there is that indeed :) The shots were taken from a different angle than usual and that creates a whole different picture :)





borked
borked
00:40 Oct 20 2010

The world as told by Mr. Street. He seems jolly and comfortable and at peace with his world.





borked
borked
00:40 Oct 20 2010

The world as told by Mr. Street. He seems jolly and comfortable and at peace with his world.





BubbleGumClaudia
BubbleGumClaudia
01:47 Oct 20 2010

I absolutly Love These!!!!!!!!!!





TheArtistRose
TheArtistRose
08:38 Oct 20 2010

Such talent! I love these. The last one really brings you in too.





ThothLestat
ThothLestat
14:10 Oct 20 2010

cool photos!





PandorasBx
PandorasBx
22:25 Oct 22 2010

Two different views, both interesting.





 

Hampton Court Palace!!!

17:14 Oct 19 2010
Times Read: 1,226


What on earth.. got this invite today heh.



The 'Vintage Christmas Ball'

at Hampton Court Palace






Join us for a black tie Ball to remember

(extra date just released due to popular demand)

Wednesday 15th December







MENU



Welcoming Glass of Marquis de la Tour sparkling wine

Warm tart of Ragstone goat's cheese and roasted squash

Roast turkey escalope with cranberry stuffing

Crème Brulèe with spiced Bramley apple

Freshly brewed coffee, tea and infusions with chocolate mints

1/2 bottle of House Wine per person

Iced water on tables



(vegetarian dishes available - please notify us when booking)



No minimums apply, corporate or individual bookings welcome

Exclusive tables available for 8 to 10 guests. Otherwise tables will be shared

Dress - black tie or era

Bar available until 12.30am







Timings

Reception 19.15

Dinner 20.00

Dancing 21.30

Bar concludes 00.30

Carriages 01.00



Carriages?? heh, like a pumpkin carriage. Wait the ball doesn't end at midnight chuckles...



COMMENTS

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MyBloodyKisses
MyBloodyKisses
19:21 Oct 19 2010

Ooh wow, so do you have to take your own pumpkin for the fairy godmother?!! lol





xxEmaeraldxx
xxEmaeraldxx
20:33 Oct 19 2010

chuckles .. I knew there had to be a catch, the tickets cost £89.00 a head! Emmy didn't read the small print lol





Bellanova333
Bellanova333
16:07 Oct 20 2010

eh that fine print always sucks still sounded pretty cool though (:





 

22:50 Oct 18 2010
Times Read: 1,247


From a man of our times; " What is the point of walls amd warships amd glitterimg statues if the men who build them are not happy? What is the reason for living life, other than to love it?" Socrates


COMMENTS

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19:51 Oct 18 2010
Times Read: 1,270


Loads of photographs coming up soon of all my travels this year so far! I have Turkey, Greece, Crete, Sicily and Cyprus .. I am excited and, isn't it about time he got them out of the camera!


COMMENTS

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PandorasBx
PandorasBx
20:36 Oct 18 2010

Can't wait to see them hun :)





Bellanova333
Bellanova333
21:05 Oct 18 2010

OOOOOooooo me either (:





MyBloodyKisses
MyBloodyKisses
18:44 Oct 19 2010

Soooooo excited! lol :)





 

Google it heh!

19:40 Oct 17 2010
Times Read: 1,310


From the Times: A young girl, who was blown out to sea on a set of inflatable teeth, was rescued by a man on an inflatable lobster. A coast-guard spokesman commented, "This sort of thing is all too common these days" hehehehee!!


COMMENTS

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PandorasBx
PandorasBx
19:55 Oct 17 2010

Really now, lol.





MyBloodyKisses
MyBloodyKisses
09:39 Oct 18 2010

There has got to be a joke in there somewhere...!!lol





 

Home..

11:53 Oct 17 2010
Times Read: 1,356


I took these photos a few years back . This is one of my favourite spots in Ireland located on the North West Coast.





Photo Sharing and Video Hosting at Photobucket



This one is from the top of the hill down to shore :)



Photo Sharing and Video Hosting at Photobucket



COMMENTS

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TheArtistRose
TheArtistRose
12:45 Oct 17 2010

I like the first one. It lets me spy on you from the mirror.





PAGAN
PAGAN
12:52 Oct 17 2010

Its a beautiful place, one day I'm gonna go and see it for myself, reminds me of where I live :)





MyBloodyKisses
MyBloodyKisses
13:44 Oct 17 2010

Beautiful pictures hun, thanks for sharing :)





BLOODLIFE
BLOODLIFE
16:12 Oct 17 2010

...and not a sign of rain! Great pics .. x





birra
birra
18:14 Oct 17 2010

Gorgeous scenery.





PandorasBx
PandorasBx
19:28 Oct 17 2010

Absolutely beautiful :)





xxEmaeraldxx
xxEmaeraldxx
19:49 Oct 17 2010

Aw, thanks ladies and gents :) I am sure there is many beautiful places in your country too. It may be an idea to organise a trip to Ireland one day :)





Bellanova333
Bellanova333
16:10 Oct 20 2010

hopefully not too redundant but... Beautiful scenes, I would love to visit Ireland one day it has been calling to me for some time now...





 

PRIVATE ENTRY

16:28 Oct 16 2010
Times Read: 1,416


• • • • PRIVATE JOURNAL ENTRY • • • •


 

13:45 Oct 16 2010
Times Read: 1,427


Are you equally nice to everyone you know or are you nicer to some people than to others? If the latter, do you know why? One way to state that you are nicer to some people than to others is the economic way: The quantity supplied of niceness (by you to others) is not the same for all people; it is greater for some than others.



The law of supply states that the quantity supplied of a good and its price are directly related. Is the quantity supplied of your niceness directly related to the price you receive to be nice? This prompts us to ask: What is the price you receive to be nice? In what “currency” are you paid to be nice? In most cases, you are not paid in dollars; the “currency” in which you are paid may be, as odd as it sounds, niceness itself. Suppose there are two “prices” of niceness, P1 and P2, where P1 equals “somewhat nice” and P2 equals “very nice.” Just as the sellers of a good prefer a higher dollar price to a lower dollar price, ceteris paribus, the suppliers of niceness may prefer to receive more for the niceness they supply instead of less. At which price received, P1 or P2, are you likely to be nicer? If your answer is P2, the higher price, then you are admitting that as the price of niceness rises, from P1 to P2, the quantity supplied of your niceness (to others) rises. In other words, you have an upward-sloping supply curve of niceness. As an afterthought, if other people act the same way that you do, that is , if everyone has an upward-sloping supply curve of niceness, then the way to get other people to be nicer to you is to be nicer to them.



The economist knows that some people are nicer than other people, but even nice people aren’t equally nice to everyone. What makes even nice people nicer to some people than to others? It may have to do with what they are paid (by others) in the currency niceness. In other words, the more niceness they are paid to be nice, the nicer they are; the less niceness they are paid to be nice, they less nice they are.



Source: Roger A Arnold 2001, Economics.



Questions:

1. What does it mean if a person’s supply curve of niceness is vertical?

2. Some people are nicer than other people at all prices of niceness. How would you diagrammatically represent this fact?





Hmm, another thought to add to that is, could it be people are nice to others who feed their ego? or if they have something to gain... Just a thought, and I am beginning to, "hate" that word nice!



Well, it's back to cleaning out the journal now...


COMMENTS

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PandorasBx
PandorasBx
19:09 Oct 16 2010

I admit to being nicer to some than others, it depends on how much I like them...thats it.





xxEmaeraldxx
xxEmaeraldxx
11:54 Oct 17 2010

A bit like me also.. but I also find it very difficult to be nasty to people. Maybe that is one of my faults being too nice to folk.





 

23:01 Oct 13 2010
Times Read: 1,468


Seriously... The more I use Apple products, the more I like them. Beating damn unwanted advertising is one of the benefits I enjoy.. I get it in the face at work, so it"s good not to have it thrown at you in a virtual world. Rock on Apple.


COMMENTS

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19:41 Oct 13 2010
Times Read: 1,518


Anonymous asked: What are your sources for that last post about Mars?



Why, so you can recycle someone else’s content instead of mine? Is this Perez Hilton?



No sources. I made the whole thing up. I actually drew that picture myself, with crayons given to me by my mommy. It’s not from the European Space Agency, which doesn’t even exist. Mars is the God of War, not a planet.



Now get back in your cubicle.


COMMENTS

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PandorasBx
PandorasBx
20:36 Oct 13 2010

*giggles*





xxEmaeraldxx
xxEmaeraldxx
22:57 Oct 13 2010

Yea..yah, yea, its good to have a sense of humour about the petty things :)





Oceanne
Oceanne
16:50 Oct 16 2010

Tsk,dont they know anything?Who in their educated mind doesnt know thst Mars is the God of War?..





 

22:05 Oct 11 2010
Times Read: 1,573


I am in the housekeeping mood and cleaning out my journal. I found this old entry from 2007.. oh Christ knows where my head was when I wrote it hah! Probably in a bottle of Chardonnay! heh.



My Journal

16:52:56 - Mar 19 2007

Times Read: 811



ADMIN: | EDIT | DELETE |





I am Emaerald from the Tch Chi Centre. I do many moves the downward one scares me, but it helps me focus my energy. I am an impartial Communist hetrosexual, and I attend the Holy Mass on Saturday nights after the pub closes. I don't give a flying vampire fluck if I make it there or not. When the priest winks at me.. I hiccup back.



I have two pets, one is a sheep who likes to roll in the grass at the back of my house, and the other pet,is the other sheep in the other field at the other side of the house. It does not like to roll in the grass.



I love junk-mail, and I think the Lord blesses me as I get so many. I am a very lucky girl.



COMMENTS

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PandorasBx
PandorasBx
00:52 Oct 12 2010

LMAO! I have a few entries like that lol





Theban
Theban
15:13 Oct 12 2010

OMG... I hope it was the wine lol





xxEmaeraldxx
xxEmaeraldxx
18:35 Oct 13 2010

So do I lol, i am already twisted enough!





MyBloodyKisses
MyBloodyKisses
20:21 Oct 13 2010

!!! That was one of the best entries I have ever read!! lol





xxEmaeraldxx
xxEmaeraldxx
22:55 Oct 13 2010

Emmy giggles and *bows*





ChaosBleed
ChaosBleed
23:37 Oct 20 2010

:) Oh,you need to deffo get drunk more sweet lady :)





xxEmaeraldxx
xxEmaeraldxx
18:28 Oct 21 2010

Heheh yea I agree!





 

PRIVATE ENTRY

21:34 Oct 11 2010
Times Read: 1,614


• • • • PRIVATE JOURNAL ENTRY • • • •


 

17:47 Oct 11 2010
Times Read: 1,633


Today was one of those beautiful autumnal days, plenty of sunshine and blue skies. I mitched off work for two hours (oh la la!) and enjoyed a walk around the castle grounds :). Oh, mannnn THAT felt so good. I was stopped by two yankees on holiday who wanted to hear the entire history of the place. I enjoyed that too.. They were so impressed with all the scenery and just loved it here :)


COMMENTS

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PandorasBx
PandorasBx
18:59 Oct 11 2010

Sounds relaxing :)





xxEmaeraldxx
xxEmaeraldxx
20:33 Oct 11 2010

I was in a hurry out when I made that journal entry, but basically what I also wanted to say was how much the Americans were in awe with the place. It was unfortunate that I couldn't of spent more time with them, but I had an appointment with the physio to keep and wanted to be in good time :)





 

10:32 Oct 10 2010
Times Read: 1,685


I am in agony as I seem to have injured or sprained my Deltoid muscles in my right shoulder during the night. How can that happen when you are sleeping? Okay, I did injure myself doing weights without my trainer once. ( I took a bodypump class once where a lot of girls share the same trainer, and that is where it happened) I can barely move my right arm without having pain. I am going to go to physio after lunch.. This is damable!


COMMENTS

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MyBloodyKisses
MyBloodyKisses
10:41 Oct 10 2010

Aww, hope you feel better soon hun :)





BLOODLIFE
BLOODLIFE
11:07 Oct 10 2010

Horse oil works, stinks like hell but it will sort it if it's muscular. Get well .. x





PandorasBx
PandorasBx
03:06 Oct 11 2010

*hugs* Get better soon dear.





xxEmaeraldxx
xxEmaeraldxx
22:12 Oct 17 2010

Tha ks for good wishes... I have been to the physio twice last week and she working on the muscle which went into spasm. X





 

15:34 Oct 09 2010
Times Read: 1,708


I might get to enjoy a little game of tennis tonight as I have complete two reports already today, as well as the usual tidy house stuff. That leaves me with four more reports and two policies outstanding, but heck I have to breathe! I am off now to shop to see if I can find a nice new formal gown.



Also, I spoke to Mum this morning and she agreed my sister and I need to talk to try to put some care plan together especially prior to going on holiday. I am a kind of stubborn person and I simply couldn't go on vacaction with her without finding resolution to our problems first. I'd cancel the whole holiday first for myself than allow that to happen.


COMMENTS

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PandorasBx
PandorasBx
05:30 Oct 10 2010

I think she needs to stay behind :D





 

Stress! stress! stress!

20:05 Oct 08 2010
Times Read: 1,762


A rant.. a fecking BIG rant too! I think the weekend should be a time when you get to relax after a hard week at work, but somehow.. it seems I keep missing these. Pretty much at the end of my tether here, plus my Mum needs care and attention.



I have come to realise that my sister is pretty selfish, leaving me with the care of my mother whilst she gallavants around the globe for months at a time. And, I still have to run my Company, carry out Audits, and prepare for more exams in December. I am cracking up. Don't say B R E A TH E deeply, or I swear I cannot be held responisble for my own actions! *sighs* I just don't know what to do. It's breaking me up in pieces slowly, and my sister just ignores my requests for sharing the responsibility of looking after Mum.



It ain't fair either.. she was the one that got fed the silver platter and who now lives the life of Reilly because of it. Not me, I had to work bloody hard for what I have and right now I am working myself to bone to get two weeks off to take Mum on a holiday.



So.. she decides to join the holiday that I had planned for Mum and me , and then... decides to flee the country straight after to go to her villa in Tunisia and leave Mum with me to look after all during Christmas for three months! Then.. as if that wound isn't deep enough decides to come home for two weeks and then depart to Oz for another three months! and that is after being there for three months until just two weeks ago.



Sorry, if this is making too much sense.. I am just incensed and I am trying not to be selfish, I don't think it is selfish of me to feel the way I do but maybe I am. It just doesn't seem fair.. its stressing me out.


COMMENTS

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PAGAN
PAGAN
20:56 Oct 08 2010

nope not selfish at all, your sister is taking the p*ss. Hope you do get some time to yourself soon, you do work hard and you deserve time out @};-





PandorasBx
PandorasBx
00:10 Oct 09 2010

Must be hard to be her pffft......You have every right to be upset hun. Have you just sat her down and told her how you feel? Things need to change, it's not fair to you, the care should be shared.





Priss
Priss
03:36 Oct 09 2010

Sounds like that princess needs a slap upside the head...take care of yourself first Emmy...else you won't be any good to your mum...~hugz~





xxEmaeraldxx
xxEmaeraldxx
09:07 Oct 09 2010

Thanks, I think what galls me the most is the fact she was always Mum's favourite and also her friend so... Mum misses her a lot and it is distressing to see Mum so sad when my sister is away. Her health has just detoriated over the past two years my sister has been doing this.





 

23:02 Oct 05 2010
Times Read: 1,788


I can't believe how the time is flying by so quickly and that in about three weeks I will leaving for a life of limbo dancing and rum drinking ! Counting it down !!


COMMENTS

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Zerah
Zerah
23:47 Oct 05 2010

Are there sharks where you're going? If so I hope their hungry.





xxEmaeraldxx
xxEmaeraldxx
18:44 Oct 06 2010

Heh! Plenty on the beach hunny.. and I DO hope they are hungry ;)





PandorasBx
PandorasBx
00:06 Oct 09 2010

Yay! Make sure you take pics :)





 

Happy 6th Hawkabee!

18:18 Oct 05 2010
Times Read: 1,806


Hiya Hawk... didn't get to your thread in the main forum before it was closed, but welcome to the six year club! I wonder if all the same people will still be around when it comes to a 10 year membership!


COMMENTS

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PRIVATE ENTRY

17:52 Oct 04 2010
Times Read: 1,815


• • • • PRIVATE JOURNAL ENTRY • • • •


 

17:07 Oct 03 2010
Times Read: 1,870


Considering my past career in the aviation business a lot of people just do not get it how I can be distraught at the thought of landing in Belfast airport. Well, it is the wind and the weather on the shore of the Lough Neagh, which almost always accumulates into a dramatic bumpy landing which I just don't like anymore. I tense up.



So, a friend decided that he was going to put me out of my agony and actually got me into his plane, and he landed and took off a few times from the top of one of the cliffs nearby.. Well, my heart was in my mouth for most of the time and my lips bled from biting into them after that session.. but, I tell you what I will never, ever complain about landing in Belfast again!



Here is a photo my friend took yesterday with my wee Luminix camera just as we were coming into land.. scary huh?



Photobucket


COMMENTS

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PandorasBx
PandorasBx
17:14 Oct 03 2010

That is freaking awesome girl!





xxEmaeraldxx
xxEmaeraldxx
18:23 Oct 04 2010

lol, Pandy.. it was so freekin' awesome that I will never do it again!!!






 

15:41 Oct 03 2010
Times Read: 1,895


I spent three hours today making a rib-roast Sunday lunch with all the trimmings, and also some homemade baileys ice-cream with strawberry jelly made with sparkling lemonade for pudding. Well, with mouths watering we just sat down to tuck in, and guess who knocked on the front door?



THE MORmOMS




Spelled wrongly of course for obvious reasons>





The conversation...



Them- Hello, can we have a little of your time?



Me - I have just put out the Sunday lunch and have sat down to enjoy it.



Them - It smells lovely, but we would like to testify for the Lord.



Me - hmm, my lunch is going to get cold, can the Lord wait?



Them- The time is coming when the Lord will wait for no man.



Me - okay i will read the brochure when i eat my lunch.



Them - maybe we can wait....



Me - my sunday roast is not like the fish n bread, its not for sharing. So, thanks anyway for the brochure. Smiles, wishing the farmers guard dog would appear.



Some people just dont get the hint! Please God if your read this forgive me for having my Sunday lunch first! I know you are full of forgiveness!

COMMENTS

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PAGAN
PAGAN
15:45 Oct 03 2010

I dislike immensely those religions that call door to door. I'm sure God wants us to find our own way to Him. Lunch sounds yummy :P





MyBloodyKisses
MyBloodyKisses
15:57 Oct 03 2010

Oh my goodness Emmy my mouth is actually watering reading that!! hope it tasted as good as it sounded! :)





PandorasBx
PandorasBx
17:15 Oct 03 2010

LMAO!





ThePinja
ThePinja
05:42 Oct 04 2010

Ah Mormons. If you're ever out of toilet paper they can help lol.





xxEmaeraldxx
xxEmaeraldxx
17:43 Oct 04 2010

LMAO Pinja! hilarious!!





 

100,000 workers expected to leave Ireland.

19:59 Oct 01 2010
Times Read: 1,927






So, Ireland the Celtic Tiger is busted. Now that is going to be one for the anals of history, and I just do not know where this all going to lead exactly.. no-one seems to. Here is an editorial from, "The Guardian" broadsheet.





The erstwhile Celtic Tiger has seen its national income shrink 17% over the past three years



Editorial

The Guardian, Friday 1 October 2010



Article history



From Greece to Japan to the US, countries across the world have been devastated by the banking crisis. But no economy has been wrecked quite so brutally as Ireland's. The erstwhile Celtic Tiger has seen its national income shrink 17% over the past three years – the deepest and swiftest contraction of any western country since the Great Depression. At the height of the long boom from 1990 to 2007, property in Dublin was worth more than in London. Since then, prices have dropped by around 40% – and are still sinking. At this rate, the country will soon hold the dubious honour of hosting the biggest property bubble and bust in modern history. When financiers joked in 2008 that the only difference between bankrupt Iceland and hard-up Ireland was one letter and a few days, they got it wrong – the mess the Emerald Isle is now in is so much worse.

And all the way down, Dublin ministers have promised voters that things are about to get better. Those emergency loans to the banks – that would sort it. These savage spending cuts – that would do the job. That decision to pretty much guarantee the entire banking system (with practically no questions asked) – this time for sure. Wrong, wrong, wrong. Like a body flung off the roof of a skyscraper, the Irish economy has just kept on falling.

They were at it again yesterday. The Irish finance minister, Brian Lenihan, promised voters that the national "nightmare" they have had to live with for the past couple of years would soon be over: "We are now bringing closure to that." He did not convince financiers, who have heard a similar form of words from Mr Lenihan every time he has brought forth another ill-advised plan. Even measured against the minister's previous gambles, though, this one is huge. Yesterday's bailout will include Anglo Irish, the property developer's favourite bank, as well as Allied Irish and Irish Nationwide – and it is set to raise the budget deficit from around 12% of national income to an astounding 32%.

When a country has gone bust in such spectacular fashion, the causes for its crisis are bound to range far and wide. Primary among them we might count an overreliance on property prices both for the feelgood factor and for public revenues. During the boom, Dublin cut income and corporation tax and relied increasingly on property taxes. As soon as the bubble burst, revenues collapsed. In other aspects, policymakers can claim that they simply stuck to the international orthodoxy for economic success – lure in foreign capital wherever you can, pursue your comparative advantages (which in Dublin, as in Reykjavik, came to be seen as finance) and remain open. But one of the lessons of what Gordon Brown once termed the first crisis of globalisation is that being open for business at all costs does not work well for small countries with homogeneous economies. And it really does not work with dozy policymakers.

As Pete Lunn of Dublin's Economic and Social Research Institute notes, the elite directing the Irish economy is more tightly closed than an oyster shell – so that the top civil servant in the department of finance would normally expect his tenure to be followed by a stint as chief central banker. Policymakers shrank from calling the property bubble a bubble until it had popped. And when it had burst, they accepted too easily the bankers' claims that they were merely short of liquidity rather than utterly bust. They did as the IMF advised and put into force some of the most savage spending cuts ever – with the result that nearly one in six workers is now unemployed, and that another economic downturn has begun.

Similarities exist here with other countries: just ask Gordon Brown. The big difference with the UK is that, as part of the euro club, Ireland cannot unilaterally devalue its currency. Its only road back to competitiveness is to cut workers' living standards. Which means that, whatever Mr Lenihan claims, the Irish economy has further to go before it falls.



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