“The massive €4bn (£3.6bn) cost-cutting package designed to steady the country’s perilous finances is expected to slash social welfare, including unemployment and child benefit payments. Swingeing cuts to public sector pay as well as health and education spending will also spark controversy.“
Ireland is stealing a march on what the rest of the EU, UK and USA have to do too. The difference is that the EU, UK and USA still think they can overcome the inevitable and, in the process, are making a bad situation worse.
If you read the article you will also notice Ireland is attempting to sugar coat the austerity measures by introducing car scrappage legislation. That, of course, is just a bunch of crock. It is not by reviving car sales that you can put a country back on its feet. And, anyway, by inducing a rise in car sales by offering incentives today, they are only taking away from future vehicle sales.
We have reached the limit of the expansion of inflation. Traditional inflation goosing tools are now having the opposite effect on the economy and the monetary system.
When enough countries will start cutting social expenditure and the political and power elites will inevitably be implicated in many more scandals to come, revolution will break out. Will it be Greece first? Will it be Ukraine? Maybe Spain or… Ireland? That does not matter.
Even if politicians don’t understand what is happening, they can feel the winds of change shifting. Before any Western country of import will declare bankruptcy, they’ll engineer a war. This one will be a real war. This one will be a war where people in the West will be mobilized and sent to the front or sent to work for the war industry whilst austerity measures such as fuel and food rationing are implemented at home.