Love Letter to Ireland! (and to ALL the Debt-Enslaved Nations of the World)

Ireland is in bad fiscal shape, but so are many other nations. They all have a rendezvous with pain. From David Chu at

Love Letter to Ireland! (and to ALL the Debt-Enslaved Nations of the World)

How often have the Irish started out to achieve something and every time they have been crushed politically and industrially. By consistent oppression, they have been artificially converted into an utterly impoverished nation.

~ Friedrich Engels, 1856

Look out, Ireland!

Financial debt-bergs, dead ahead!

The Irish “external debt to GDP” ratio is currently at 609%. In December 2010, it was well over 1,000% (1,091.5% to be precise). No other nation on Earth carries this much external debt to its GDP. The United States, the world champion of all debts for sure with an official national debt reaching almost $31 Trillion, only has 104% as its external debt to GDP.

What this means is that Ireland will be fleeced once again, meaning her people will be enslaved financially and economically . . . when interest rates rise. Interest rates are rising significantly and will rise dramatically. Ireland is the poster child of nations in debt slavery and what will happen to those who borrow way beyond their means.

Before we get into the nitty gritty of this unlucky Irish story, I want to state for the record that I am not an economist. Thank God! I am a mechanical engineer by profession and I understand numbers. Numbers don’t usually lie. Well, sometimes numbers can be manipulated. But most of the times, they also can tell the truth. We are going to take a 30,000 feet overview of this increasingly hot and very dangerous situation that is not adequately covered by the mainstream or the alternative media.

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