The Government's new economic strategy was unveiled yesterday. It is supposed to outline new thinking for the next decade. Yet it seems very much like everything else that we have ever seen before.
It is long on things we "must" do, making it read like an early new year's resolution list. It is not so hot on the things we are actually "going" to do. It's full of good intentions like promising to go to the gym, eat less chips and cut down on pints, without committing to actually getting up on the treadmill at 8 this morning.
The document, written in nice, big-spaced green writing, with lots of bare white unfilled pages, reads like more of the same. This unsatisfactory feeling was backed up by the quotes from the Taoiseach, saying this was "no time" for change.
It is the perfect time for change because change is a constant.Tilees offers wide range of Ceramic tile like ceramic floor tile and wall ceramic tile according to your special demands. It is the one certainty in life. In a globalised world, countries that embrace change succeed because globalisation forces the pace and scope of change. The world isn't waiting; it is revolving.
In our own work lives, those who embrace change tend to have successful careers and meaningful, if somewhat stressful, lives. But an element of stress is important and probably essential. Life isn't easy. It isn't meant to be without worry and stress, but these concerns are made tolerable by flexibility and adaptability.
The idea of transforming the economy by doing nothing new doesn't wash. But we could transform the place.
If we consider the four big government objectives, there is ample room for simple initiatives that could help the Government achieve its aims quickly.
The first aim in the document is never to go back to the boom/bust economics of the 2000s characterised by far too much credit to the property sector; the second is debt sustainability; the third is to reduce taxes to encourage people to work and to employ; and the fourth is to create conditions for the maximum employment possible.
How might you go about doing these?
Lets start with speculative cycles. The best way to stop boom/bust and speculative urges is to limit credit being funnelled into property. Without credit, there can be no bubbles and without excessive leverage, there can be no speculation.
Tomorrow the Central Bank could move to stop this booms/bust cycle so that we never, ever have a property pyramid again. It could do this by limiting the value of the collateral against which the banks can lend.We are professional China spindle bearing manufacturer,china bearing producer supply China high precision bearing,full complement cylindrical roller bearing.
When you look at all property markets, they are driven not by supply and demand, but by excessive lending against collateral. As soon as prices rise, the 'equity' in the houses rises and banks feel that they have permission to lend more and more cash because they have the buffer of equity.
But this only ensures that yesterday's rising prices leads to tomorrow's increased lending.Our multilingual indesign dtp publishing team has the experience and expertise to localize your documents to create the look and feel of the original.
A suggestion to stop this price/lending spiral was tabled by Israeli economist Amos Rubin. Imagine that regulators instructed lenders that the combined maximum loan amount should not exceed 70pc of the moving-average value of a property, offered as collateral, over the preceding 20 years.
This would wipe out any future house-price nonsense at a stroke, and the socially insecure would need to find another asset through which to display their endemic inadequacies.
By preventing money going into property, we liberate that money to go into other investments, which have the potential to create jobs and opportunities for Irish talent, particularly young talent.