Sunday November 29, 2020

Back to kamikaze capitalism

Giving away scarce capital for people to buy trophy properties while strangling credit to small businesses is kamikaze capitalism, pure and simple, writes David McWilliams.

18th May, 2013
The Central Bank should move to stop this so that we never, ever have a property pyramid again.

Have we learnt nothing? The most depressing - and I mean depressing - news last week was that useless, unproductive houses in upmarket Dublin are now making well over the guide prices at auctions, at a time when useful, productive SMEs are going to the wall for want of credit and working capital. After everything we have been through, this is pathetic. It means that the same banking and property cabal that got us into...

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