Parties Appeal For Food Aid From China

OK, they ordered takeout. Things aren’t quite that bad, yet. Fine Gael and Labour have been shut in negotiations all day. Outside meanwhile, look what happened to Pat Rabitte’s car. A rich vein there from which to dig metaphor and prognostication. Let’s just say that if Labour go into government, they’re liable to find themselves clamped firmly by the round bits.

I think I would prefer if they did however. Though in all probability it will be bad for them, without them on board it will be worse for humans.

But I want to lay down a marker here, otherwise in five years (or sooner), Fianna Fáil will be saying “Look, this government did even worse than we did.” In five years time we will be worse off than we are now – no matter who is in government. Though the foundations of the house-of-cards economy have been kicked out, it has yet to finish falling down.

Of course things are going to get worse. Right now nobody has any idea for a solution that won’t actually exacerbate the situation. Raise taxes, cut public spending, borrow at ruinous interest rates – these will all further depress the economy an already ravaged economy. That will accelerate emigration, further shrinking the tax base. And as fewer people want to live here, house values will fall further and mass mortgage default become more likely, destroying the value of assets that the public now hold. What they’re arguing over, right now, is exactly which combination of these ‘solutions’ will be least disastrous.

If in five years the place is not actually a burning wasteland patrolled by packs of feral horses, the next government won’t have done too badly.

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