Saturday 27 May 2017

Gene Kerrigan: It's not the economy, stupid, it's politics

The plan to buy bad loans and flog State assets makes no sense -- but why should it, asks Gene Kerrigan

Gene Kerrigan

Gene Kerrigan

Let's see if we can help David McWilliams. Poor David is worried that the Government is about to do something very, very foolish. It's not just that he disagrees with an aspect of Mr Cowen's economic policy, it's far more worrying than that -- McWilliams doesn't understand it.

"I do not understand", the poor wee lad wrote in the Irish Independent last week. Now, this column has always been frank about its lack of expertise in economics. Much of the economics business is a technical swamp within which we -- like almost everyone else -- flounder.

But not McWilliams -- he knows all that stuff. And if the Government is proposing an economic move that McWilliams doesn't understand -- well, these are the folks that brought us the property bubble, the hospital trolley culture, shanty schools and the collapse of the banks. Not to mention the insane policy of borrowing endless quantities of good money and setting fire to it in the name of Anglo Irish Bank. What are they up to now?

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