Posted by tigertom on Dec 27, 2009 in
General 1. IMF called in, Ireland?
Pro:
On dole: 380,000;
In public service: 369,000;
Total population: 4,000,000;
Public debt: High;
Banks: Insolvent without more public cash injected = more debt;
- Social partnership ended;
- Truculent public sector demanding retention of benefits;
- Quangos laden with political place-men left untouched.
Con:
Some cuts in public outgoings: jobs, wages, dole;
One of the three banks (Bank of Ireland) showing some vitality;
Corporation tax still low;
EU unlikely to allow member state to fail.
But:
Current quasi-stability could be the ‘last hurrah’ created by government propping-up of banks. Also some recent buoyancy created by Christmas spending by those not yet wiped out, by the ‘cute hoors’ who got out of property before the crash or who were cash-rich before the crash or who still have high-paying jobs (in the public sector).
2. Climate Change A Non-Issue.
Communism vs. Capitalism is dead, so something else had to be found to emote over, to keep the masses distracted, hence, bans on hunting and eco issues. Earnest middle-classes and truculent proles to get tired of ecology when recession threatens their livelihood. Inertia and vested interests a factor also; China, US and Third World won’t go for it.
Opinion: It’d be more useful to focus on the overall issue of pollution and environmental degradation; we need clean drinking water, food and air and the widest variety of species.
3. Public Morals Reach Nadir.
Christianity relentlessly bashed. Neo-paganism-modernism a poor substitute. Infanticide and euthanasia become legal. Depravity leering out of the TV screen a nightly occurence. Eventually the correlation between the ‘New Morality’ and crime becomes widely realised.
Lesson of history: societies decay from within and then are attacked from without. When leaders no longer obey the moral code and the law, why should the masses?
4. Ongoing Recession.
Governments have bailed out dud businesses (banks). They have shifted the axe from bankers necks to nations. Financiers continue to play tricks, vulnerable countries like Greece and Ireland in trouble due to sovereign debt = bad credit rating = public borrowing on harsher terms.
The hope is that that governments have staved off national bankruptcy by borrowing from the future. Can sovereign wealth funds (countries) go bust? Answer: Yes. They can be forced to borrow at higher and higher rates and eventually their paper is no good any more.
It’s a gamble with time; keep the show on the road until the upturn.
So please, be promiscuous, live in sin, divorce your spouse, indulge your base passions and make more business for doctors, psychiatrists, lawyers, counsellors, journalists, casinos, hospitals, house-builders, confectioners, junk-food makers, gadget sellers and anyone else who profits from broken homes, hearts, bodies and lives.
Where there’s misery, there’s money!
Tags: 2010, Economy, Ireland, Irish, prediction, recession
Posted by tigertom on Nov 7, 2009 in
General Are you confused by the current economic crisis?
Yes?
Well, here’s what’s happened and what is happening and what will likely happen in the future.
Past: The Clinton administration funded fat mortgages to poor people on poor-quality housing. A lot of paper was issued, backed by this debt. When supply increased way beyond demand, the market crashed and the effect rippled worldwide, as a lot of unworthy people in a lot of countries were also getting fat mortgages or buying paper based on them.
Present: To stop banks going out of business and the ripple-effect of that collapsing their economies, governments have given big loans of taxpayers money to banks and hived off their bad loans into ‘bad banks’. Because money, stocks and property are now depressed as investment vehicles, commodities have risen. That’s why gold, for example, is now at a silly price and will likely crash, when supply exceeds demand, again.
Government bureaucracy and welfare (and thus public spending) is also monstrously disproportionate to the population the the UK and Ireland. There are too many chiefs and hangers on and not enough indians.
Future: Governments can’t keep throwing money at banks. It’s taxpayers money. Some countries, like the UK and Ireland, are extremely indebted. This makes them bad risks for investment; they might not be able to pay you back in the short-to-medium term.
So their economies suffer with less inward investment. That means fewer jobs. They also have a massive administration and welfare strain on their budgets.
If those (individuals, companies, other countries) who own government paper (bonds, paper money) decide to sell them off, they could bankrupt whole countries. Or just depress the value of their paper.
The hope is that governments, through debt-funded spending, can keep the show on the road until their economies pick up.
What is irritating:
- Manufacturing is now done more cheaply in the Second and Third Worlds. First World economies are now based on service industries. As example is the City Of London finance industry in the UK. Unionisation, red-tape, taxation and high wages make First-World countries less attractive for manufacturing. So no one has money to spend on service-industry products in these countries; previous spending was done with borrowed money or money from the finance and property sectors.
- Socialist governments still spending what they don’t have and looking for ways to leech off of those who do. Except the ‘haves’ are hurting now, also.
- Higher taxation when everyone’s feeling the pinch; who wants to start a business when taxes eat into your profits and said taxes go to pay the unproductive?
Prognosis: A long recession or even depression. There’re still a lot of bad paper and bad ideas and ignorant, deceitful politicians which need to be flushed down the toilet of history, so enterprise can re-assert itself.
To prevent a repeat of this situation, simple, clear laws need to be enacted: Lie about your product and be criminalised for it. That’s all.
Posted by tigertom on Nov 3, 2009 in
business Starting a franchise is similar to trying to ride a bicycle with assistance. Starting an independent business is like doing the same except without assistance. Buying into a franchise is an easier means to becoming an entrepreneur without suffering from the majority of risks other entrepreneurs experience.
Seek assistance from business bureaus to find out more about the franchisor. In the USA, the Better Business Bureau, in The U.K. you can check with the Office of Fair Trading. They can inform you if your franchise is a scam or hoax and if any complaints have been filed against that seller. Carry out a background credit check on the corporate officers of the company.
Statistics: Have you been informed of the success rates of existing franchise buyers, and will the franchise seller provide you with their names and areas ? Will you be given hard data on forecasted, actual or average profits, sales or earnings ? If the franchisor is less than forthcoming about this, it’s a red flag.
Diverse Benefits. Different franchisors provide different benefits to their people. Discover these benefits and discounts, as any of these outfits ought to be eager to discuss them with their potential franchise purchasers.
A concession is basically an agreement between the franchisor and the franchise purchaser that permits the franchisee to use the rights of the trade marks and logos of the franchise seller in running the enterprise. The franchise purchaser is also permitted to sell the products of the franchise seller by keeping to a legal agreement that protects the interests of both. There is usually an initial concession fee, and ongoing royalty payments.
Advertising costs have to be taken into account when purchasing a franchise. You have to pay advertising expenses for national advertising and to draw in new concession owners, not just for advertising your own venture.
Competition. The threat of competition to a company is all too real. The competition can knock your venture out of the running before it even begins. A franchise business in an area with tough competition has the capacity to succeed more easily due to the name-recognition factor. Individuals will readily identify with a popular venture even if there are other alternatives.
Cost. Cost is a critical factor not only in founding a company but in almost all else in life. When it comes to the expense of buying a franchise enterprise it may appear a little bit too expensive compared to setting up your own business from nothing but you have to take into account not only the short-term costs but the long-term ones as well. If you think you can foot the bill and you can benefit more from the opportunities a franchise venture has to offer then it is advisable to go the way of buying one, otherwise you kick off your own company from scratch.
Ask other entrepreneurs about the pros and cons of joining a certain franchise before putting in time and money. Even ‘though you will have help and support and a plan if you commit to a franchise, there will still be hard work. Research about each franchise as they will present different pros and cons and assess each one and find a franchise that gives you a good package and has an operating system in situ and make sure they’ll train and guide you.
Backup and Training. All enterprises require some type of support and a franchise venture is much more likely to gain the necessary support from a franchisor. A company starting from nothing could have to depend on support that is paid for and which could not in reality be relevant to the particular situation at hand.
Competition. The threat of competition to an enterprise is all too real. The competition can knock your business out of contention before it even begins. A franchise company in an area with tough competition has the potential to succeed better due to the name-recognition factor. People will readily identify with a popular business even if there are other alternatives.
When you purchase a franchise, remember that the franchise vendor usually controls the operation of the business to ensure uniformity in all the outlets. With these controls, you could find it hard to restrict your exercising your own judgment and ideas.
Once you buy a franchise, you market services or goods that are already reputable and are offered training and support that helps you succeed in your enterprise. However, not all concessions can be a guaranteed success. Purchasing a franchise allows you to operate a company and on paying a franchise fee of a few grand, you keep to a format decided by the franchisor and not your own.
Look for discounts that many franchisors have acquired and look for additional benefits. Starting a franchise has the benefit of not starting from nothing because five percent of regular enterprises succeed in the first five years while 75 percent of franchises succeed in their first five years.
Posted by tigertom on Jul 29, 2009 in
finance Here are beginner pointers on setting up worthwhile online forex trading:
- Purchase or get free forex ebooks. Take part in a forex training course. Forex trading sites offer you the chance to take part in demo scenarios where you are given a opportunity to test your strategy. If you’re making some lolly in the demo scenarios you can then try out genuine money.
- There is always a broker ready to quote on a currency. After you select what currencies you want to commit in you purchase on the net either through a dealer or via your own currency trading account.
- With a mini forex trading a small stake you get a free trading platform and the benefits that regular forex traders get to enjoy. These would include graphs, state-of-the art trading software and resources.
- Read a good book or two. Maybe get hold of a web course. Some brokers will even give you a free tutorial when you open an account. After all, it is in their interest that you use their services. You won’t remain with them if you lose money every time you make a trade, so it’s in their interest to give you some assistance.
- Managed forex accounts hold numerous advantages. First of all, it allows for the investor to accomplish a good rate of growth without having to research and spend time themselves. Secondly, they’ve the flexibility when it comes to withdrawing funds. This is due to the very liquid nature of the marketplace. This allows the manager of the investors account more chance to step up his revenues. They are able to do this through assorted agreements, in essence a limited power of attorney that allows them trade in that money in that account for you.
- An effective rule for either a mini-account or a standard account is to limit your margin usage for each trade to 5% – 10% of your usable margin. The smaller trade size allows traders to trade live but with less jeopardy. It’s useful also for those with smaller capital, who are risk-averse or for beginners who are not yet surefooted in their abilities. A trader can also become acquainted with the processes and the environment of the Forex trading system. The software used for the mini-account is similar to the regular account and has the same functions.
- Continue educating yourself; it steps up your chances of delivering the goods. And you can do it from the comfort of your own residence.
- Study historical trends to get ‘the big picture’.
- You need to know current affairs. Read newspapers and look at the TV news channels to keep updated on currency status, as well as factors that influence currency value, such as politics. Also keep a record of the rise and fall of interest-rates, political and economical factors, bank activities and import and export policies.
- Forex trading is also called currency trading. Pick out a currency trading tutorial; one that exposes you practically to the real currency trading environment or at minimum something near to it.
I hope these few simple suggestions will be of some use to you in setting up worthwhile forex trading online.
J. Reilly is an author for Forex Online Trading and Forex Day Trading web sites in London, UK.