Lenihans lips are moving, again.
I am getting a bit ‘raged out’ which is why the frequency of posting has declined recently.
However, the latest lies to come out of the mouth of Brian Lenihan easily vaulted over even my heightened threshold level for ‘foaming at the mouth incandescent rage’.
The Minister has claimed and it has been echoed by several others than the debt reclassification is technical and does not affect us in any way.
This is wrong.
It is not possible for our tiny brains to deal in billions and make sense of them, mine included, indeed especially mine. Which is why he gets away with these lies so easily.
On the human level what has happened is that our banker has taken a big slug of our mortgage and put in onto our overdraft. Yes, guess what, we still owe exactly the same amount of money.
The difference is that we have to pay it back 10 times faster and they are charging us more for it and we still are expecting to maintain our lifestyle at the same overdraft limit.
If the average mortgage is 250,000 what the Minister has created (since it was he, he says, instructed Eurostat on the correct treatment of this expense) is a situation where our mortgage has gone down by 15,000 and our overdraft up by the same amount.
This comes at a time when we have agreed to repay the overdraft in 3 years time and when we are having difficulty living within the overdraft anyway.
That’s all it is, a mere technicality….Mar dhea!