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The SakerA bird's eye view of the vineyard
Public InquiryInterested in maladministration. Estd. 2005
Human Rights in IrelandPromoting Human Rights in Ireland
Lockdown Skeptics
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international / economics and finance Friday May 22, 2020 00:01 by 1 of indy
 3 comments (last - thursday july 23, 2020 20:35)
Feedback from software professionals on Twitter was scathing
Prof Neil Ferguson who was the chief advisor to the UK government in the lead up to the Covid lockdown and was instrumental in bringing it about based his advice the output of his own undocumented computer code he wrote 13 years ago. In the initial stages of the crisis his "model" predicted 500,000 deaths in the UK from Covid. Then a short time later, he revised his figures sharply downward and said his model now predicted to 20,000 deaths. This incidentally is the same number of deaths from flu in the UK in a typical year. So it appears to be the case that the UK has committed economic suicide based on software that no-one else could inspect in advance nor was there any independent verification. To make decisions based on this type of methodology is nothing short of criminal. And we haven't even got to the assumptions used which obviously are on equally shaky ground given one day the model was predicting 500,000 dead and then when obviously some level of correction was done, it was then only 20,000. Related Links: COVID 19 Is A Statistical Nonsense | The Vaunted “R Number” the UK Is Destroying Itself Over Is Shamanic Mumbo Jumbo Not only is the data going in weak and uncertain, but even the core assumptions of the model are educated guesses subject to bias | Covid-19: Neil Ferguson, the Liberal Lyssenko | Sweden Has Covid-19 Beat, Leaving Everyone Who Locked Down With Egg on Their Face
national / economics and finance Monday April 27, 2020 13:35 by 1 of indy
5 comments (last - monday march 15, 2021 14:18)
Some of the scare headlines
Never before in the history of the world has there been such a massive and widespread shutdown of the economy for as long as for this Covid-19 scare. As of today April 21st it has been more or less shutdown for a month and the politicians instead of doing their usual and saying we will be out of this soon are saying we need to continue it indefinitely and even when the lockdown is lifted, it will only be gradual return to normality. Clearly everyone is worried and a lot depends on how long this lockdown continues for. The question is not whether the economy both here in Ireland and globally will be damaged but more by how much. This is an important question because real lives depend on what happens in it Here we attempt to assess where we are, what has happened and what logic dictates are some of the possible outcomes. Britain’s 77th Psy Ops Brigade Has Been Activated to Counter Coronavirus “Disinformation” The British military waging information war on their own population https://www.anti-empire.com/britains-77th-psy-ops-brigade-has-been-activated-to-counter-coronavirus-disinformation/
Related Links: In London alone 600 people a week more are now dying from heart attack because they were afraid to go to hospital If Sweden Succeeds, Lockdowns Will All Have Been for Nothing | In Frenzy to Empty Hospitals for Doomsday Model Predictions UK and NY Wreaked Mass Death on Care Homes | American Billionaires Have Gotten $280 Billion Richer Since the Covid Hysteria Pandemic | Coronavirus – The Aftermath. A Coming Mega-Depression…By Peter Koenig (ex World Bank)
national / economics and finance Thursday November 24, 2016 03:56 by 1 of Indymedia
We are republishing this article by Stephen Donnelly TD who has been doing great work in exposing how Fine Gael have gone out of their away to facilitate vulture funds who are now preying on ordinary people by charging exorbitant rents and fueling the current property and are replacing the English absentee landlord of centuries past, with ruthless vulture funds capitalists of this era and essentially introducing a form of neo-fuedalism as increasing huge swaths of the population are either priced out of buying homes, or are signing up for debt that last close to a lifetime. Related Links: Stephen Donnelly, TD submission for a detailed proposal to target €20bn in future avoided taxes. | Update on the work of NAMAleaks.com
national / economics and finance Tuesday February 02, 2016 23:11 by T
Trajectory of Irish Banks
Forget the official Banking Inquiry report because Joe Higgins has written a much more better one and it asks the rights questions and gets to the heart of the matter by putting the whole saga in its proper context -something which the official report couldn't thing as it would mean asking fundamental questions. Indeed the inquriy itself and official report have been steeped in controversary with allegations of coverup because of numerous reports of key officials and whistleblowers in the regulator office and central bank were ignored and their evidence never making into the inquiry. The whistleblower made a formal complaint under the Protected Disclosures Act and (Village Magazine) "outlining a range of detailed concerns about how the Central Bank and some of its legal representatives were omitting huge swathes of vital documents, redacting many of the most crucial pieces of evidence, and delaying release of vital material until it was too late to use them in briefings for public hearings – in at least one case handing them over 24 hours before a scheduled interview about them." Related Links: Joe Higgin's Banking Inquiry Report - Jan 2016 | VillageMagazine: Cover-up upon cover-up. Banking Inquiry to be blown apart | Joe Higgins website | Indy Links: The Fake Banking Enquiry. More Cynical Theatre For The Downtrodden Irish Masses? | Inside the Anglo Irish - The secret tapes | Audio from Conor McCabe on Banker and Rancher Interests in the Modern Irish Economy |
Thu 28 Nov, 08:46
New York State lawmakers extended their legislative session into the weekend as a vote on the New York Taxpayer and International Debt Crises Protection Act remains pending.
Largest New York Labor and Religious Groups Support the New York Taxpayer and International Debt Crises Protection Act
Global Growth Remains Low Amidst Debt Concerns, War and Inflation, Says IMF Economist Michael Hudson was recently interviewed on RT by Peter Scott on the current situation with regard the US instructing Europe to commit economic suicide -aka the sanctions against Russia. In it, he lays out what his happening and where Europe and the US is headed. It cuts right through the bullshit narrative
All State Land And Property To Be Sold To a Private Entity Called The Land Development Agency. Yes you heard this correctly. The government is transferring all state land and property to a private entity called the Land Development Agency. We cannot allow this to happen. The Post Offices are semi-state owned but they are actually being starved of cash. Richard Boyd Barret TD: In the Dail Just wow is all I can say… of course the minister has already left the building. The boys are back in town. Fianna Fáil and the developers. This is a hyper-speed version of “The Mistakes of the Past”. This legislation is a heist, is a legal method to pillage the land bank, the entire public land bank. It’s absolutely extraordinary. It’s not just local authorities, it’s every single public sector and their land. Not just housing land, “any relevant land” you can look at the definition in the legislation. They can take any bit of land from any public body and they can do what they like with it. “
The IMF World Economic Outlook report lowered economic growth projections for wealthy and poor countries. The IMF forecasts 5.9% global economic growth.
An investigation into more than 11 million private financial documents show hundreds of public officials in 90 nations using schemes to hide wealth offshore and avoid taxes. The International Consortium of Investigative Journalists released the Pandora Papers in partnership with the Washington Post and 600 journalists in 116 countries.
G20 finance ministers begin two-day meetings in Italy on Friday on COVID response, economic recovery, vaccines, debt relief and global tax agreements. More than 265 groups signed a letter organized by Jubilee USA urging the G20 to act on debt relief, aid and COVID healthcare for developing countries.
The International Monetary Fund approved a debt relief process for Sudan, according to the country's finance ministry. The Heavily Indebted Poor Countries (HIPC) initiative, a debt relief process created in the early 2000s, will wipe out 85% of Sudan's debt, reducing debt from $50 billion to $8 billion.
The World Trade Organization began a process that could make it easier for poor countries to produce or procure COVID-19 vaccines. Pharmaceutical companies hold vaccine patents and WTO action is necessary to waive the patents. Less than 2% of coronavirus vaccines reached poor countries.
Heads of the primary global financial, trade and health institutions urged government leaders to finance a $50 billion vaccine plan to end the pandemic. “A two-track pandemic is developing, with richer countries having access and poorer ones being left behind,” shared IMF Managing Director Kristalina Georgieva, World Bank President David Malpass, World Health Organization Director General Tedros Adhanom Ghebreyesus and World Trade Organization Director General Nkozi Okonjo-Iweala in a joint statement.
As worldwide COVID cases peak, IMF chief Kristalina Georgieva unveiled a $50 billion proposal to support vaccinations of 60% of the world's population. During a G20 and European Commission summit, Georgieva argued the global vaccine investment would end the pandemic and spur $9 trillion in economic gains by 2025.
The United Nations convened on COVID response and development needs for vulnerable, small island and landlocked countries. The President of the Economic and Social Council, Pakistan Ambassador Munir Akram organized the high-level event to focus on countries struggling with specific disadvantages from the crisis.
Financial decisions play a critical role in solving climate change, advocated Treasury Secretary Yellen during a US-hosted climate summit. More than 40 world leaders are attending the two-day virtual gathering convened by President Biden. Biden announced a new US target to halve fossil fuel emissions by 2030 and eliminate them by 2050.
The Development Committee, a ministerial-level consensus building and policymaking body for the World Bank and the IMF, met as part of the Spring IMF and World Bank Meetings.
The IMF warns that rising US interest rates could impact the ability of developing countries to pay debt, leading to prolonged economic crisis. The warning comes ahead of IMF, G20 and World Bank meetings, with the Fund's release of the Global Financial Stability Report.
"The pandemic will reverse the progress made since the 1990s in reducing global poverty and will increase inequality," states the IMF in its flagship World Economic Outlook report.
Treasury notified Congress of its support for $650 billion in IMF global reserves, also known as Special Drawing Rights (SDRs), to assist developing countries struggling with the coronavirus crisis. US law requires a ninety-day advance alert to Congress before the US votes for SDRs with the IMF board.
International Monetary Fund head Kristalina Georgieva warned of an uncertain global recovery as the world struggles with the COVID spurred economic crisis. The IMF Managing Director stated concern that average incomes in developing countries faced drops of 20% and 11% in advanced economies. "This loss of income means millions of people will face destitution, homelessness, and hunger," reported Georgieva during her curtain raiser speech ahead of the Spring IMF and World Bank meetings.
G20 finance ministers met Friday to discuss global coronavirus response. The group endorsed continuing stimulus plans in wealthy countries and supporting plans to increase aid and vaccine access for developing countries.
A UN experts report offers 14 recommendations to stop the loss of trillions in public revenues. The UN group argues that money lost to transnational crime, corruption and tax avoidance could be used to address the pandemic, poverty and climate change.
More than 215 organizations sent a letter to the G20 and IMF to issue $3 trillion in global reserves, known as Special Drawing Rights (SDRs). Spanning the globe, the signers argue that SDRs will help countries suffering from the coronavirus crisis and, "send a strong signal of renewed multilateral coordination..."
World leaders, including Pope Francis, UN General Secretary António Guterres and the IMF's Kristalina Georgieva, gather for a high-level climate summit hosted by the Netherlands through Tuesday.
G20 finance ministers held an extraordinary meeting and announced further plans on debt reduction for developing countries affected by the COVID-19 economic crisis.
G20 finance ministers agreed to extend debt payment relief for the 73 poorest countries and, in principle, to have a common framework to cancel debts. The G20 Finance Ministers and Central Bank Governors met on global COVID-19 response plans ahead of the Annual IMF and World Bank Meetings.
Presidents, prime ministers and world leaders focused on solutions for the global economic crisis spurred by the coronavirus at a virtual United Nations meeting.
The G7 supports a process for debt cancellation for vulnerable countries, they announced this morning after Treasury convened a special Finance Ministers meeting.
The Federal Emergency Management Administration will award $13 billion in Puerto Rico disaster aid to rebuild the power grid and education facilities, announced the White House. The announcement comes near the three-year anniversary of Hurricane Maria slamming the island, taking 3000 lives and causing more than $100 billion in damage.
IMF Announces Access to Global "SDRs" Reserve
World Bank President David Malpass called for debt cancellation for poor countries struggling with the coronavirus, in an interview he gave to The Guardian. more >> |
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