The Irish economy is engaged in arguably the largest redistribution of wealth in the history of modern economics. The agreed moderate prediction for what our bank bailout will cost is €70 billion. That is: €70,000,000,000.
The average industrial wage before the boom was €36,000. Were I to earn this much money in a job, I would be comfortable beyond my wildest expectations. To put these two figures in perspective, 70 billion euros would give just under 2 million people (1,944,444) a job at €36,000 a year. SEE ATTACHED GRAPH.
N.B. The graphs seem to indicate that in the face of the government’s decision to bail out the banks, I, along with anyone else seeking an average job, am simply invisible.
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As the Irish government reorientates its budgets to pay this massive amount of money to the markets to support banks that were criminally mismanaged and utterly corrupt in their methods, it redirects money that was spent on providing services (through human beings who were paid to do those jobs) and developing infrastructure (that allowed people to do things that generated profit and thus created jobs). This increases the number of people out of work and hence reduces the amount of money being spent in the economy and the amount of money available to grow the economy. Hence, the economy has contracted in what is commonly called a recession. People don’t have money to spend. Money is not spent. Jobs are lost. No new jobs are created.
Except money is being spent. On our behalf. To shareholders in banks that by right should have gone bankrupt.
So why? Why do I not have a job? This is why I think I have not succeeded in getting work.
http://nothingleftforcaesar.wordpress.com/2012/03/07/actual-correspondence-with-the-social-welfare-office-this-week/
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