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A Modest Proposal?

Wikipedia: A Modest Proposal

Swift suggests that the impoverished Irish might ease their economic troubles by selling their children as food for rich gentlemen and ladies. This satirical hyperbole mocks heartless attitudes towards the poor, as well as British policy toward the Irish in general.

Although child-care costs are soaring since 2009, tuition and fees at 4-year public schools are up 71% in the last decade, and real median household income has generally been falling since 1999, that sort of satirical "modest proposal" hyperbole could never happen in America!

As seen at Whole Foods:

Facebook: "Boneless Skinless Children's Thighs"

From the comments:

A Modest Proposal?

D'oh! I stand corrected. The rich gentlemen and ladies? Let them eat cake our children! ;)

The Sarcasm Report v.173

November 14, 2012
RPT-CORRECTED-UPDATE 1-Congress, Obama face dynamite in 'fiscal cliff' -CEOs

A failure in Washington to solve the crisis by the year's end could prompt major companies to curtail investment plans, said Duncan Niederauer, CEO of NYSE Euronext, operator of the New York Stock Exchange.

"We simply won't be investing in the United States. We will be investing elsewhere where we have more certainty of the outcome," Niederauer said in an interview.

If certainty of the outcome is all that matters then Europe seems the perfect place to invest! Or perhaps China? Rain or shine, their official numbers always seem fantastic!

Sandy Cutler, CEO of manufacturer Eaton Corp, shared his concern.

"Until we solve the fiscal issues (in the United States and Europe), you're not going to get back to normal GDP growth," Cutler told investors on Tuesday.

Normal GDP growth? What a hoot!

July 27, 2012
Real GDP Growth per Capita


Click to enlarge.

Step right up! We're running a special on old normals and new normals! Borrow the money to buy the old normal at the regular price and get a new normal at that same low price!

One Picture Fully Explains the Euro Crisis

A friend sent me the following link today.

June 21, 2012
The euro crisis, in one picture

The Allure of False Competitiveness

February 4, 2011
Canadian-made games and the question of outsourcing

In the mid-1990s, the Irish government began enticing multinational corporations with offers of big tax cuts. Major tech companies including IBM, Google and HP took up the offer, which led to rapid economic growth and Ireland’s transformation into a “Celtic Tiger.” Over the course of a decade, the country went from one of Western Europe’s poorest economies to one of its wealthiest.

But critics warned that the incentives were creating a false competitiveness – that Ireland’s high-tech economy couldn’t really hack it if things got tough. To some extent, they were right.

2008–2011 Irish financial crisis

The costs of the bank rescues, NAMA and government deficits over the period look set to push Irish National Debt up to a ratio of 125% of GDP by 2015.

It Could Be Different This Time

UK house price growth ‘slowing’
Most previous housing booms have been followed by bust. Some people, however, think it could be different this time and take comfort from the experience of a number of other countries, such as Australia, Spain and Ireland. However, for some of these markets, it may be too soon to say whether they have escaped unscathed or had a temporary reprieve.

Australia?

Australian housing finance plunges
Global credit market turmoil and higher interest rates are expected to dent housing finance commitments in coming months, after worse than expected figures on new home loans were released today.

Housing affordability slows construction
The housing affordability crisis continues to wreak havoc upon the Australian construction industry, contributing to a further deterioration in activity last month, new figures show.

Spain?

Spanish building slump sparks economic jitters
But the bubble appears to have been punctured, with house prices dropping 2.1% in both Madrid and Barcelona so far this year, according to Preciometro.

Sun is setting on Spanish property boom
Hundreds of estate agencies across southern Spain have gone out of business in a trend that experts say signals the end of a buoyant housing market that has fuelled the country's economy over the past decade.

Ireland?

Ireland's market loses some steam
The survey suggests average prices fell a modest 2.6 percent during the six months to June. But some agents predict prices will be 10 to 15 percent lower by the end of 2007 than they were in December 2006.

To infinity and beyond!

Global Growth Threatened as U.S. Contagion Spreads
Even before the latest rise in borrowing costs, some of Europe's strongest housing markets were showing signs of weakness. Spanish home starts plunged 21 percent in May, virtually wiping out growth for the year, while Irish house prices suffered their first annual decline in at least a decade in July.

Asia is ``still heavily dependent on exports,'' Stephen Roach, chairman of Morgan Stanley in Asia, said in an interview on Sept. 6. ``And the largest market for most Asian economies remains the overly extended American consumer, who I think is the next shoe to drop in the subprime shake-out scenario.''

Faced with inflation at a 10-year high, China has raised interest rates and acted to curb bank lending to cool its overheated economy. Sun Mingchun, an economist for Lehman Brothers Holdings in Hong Kong, said in an Aug. 31 note that those concerns ``could be turned on their head if the global economy turns down sharply.''