Europe’s austerity packages start to bite but still lots more to be extracted from the Irish

The chart below suggests that Ireland is still far to wealthy. Rest assured that the IMF/ECB via their agent “The Government of Ireland” have more tricks and schemes up their sleeves to extract money from you.

Its the ‘big picture’ issues that we need to watch these days, no longer detailed forecasts of individual product growth rates. They are driving chemical product sales in every major region.
The chart above from the Financial Times highlights Europe‘s drive towards austerity. Long gone are the days of the 2009 G20 meeting, when everyone focused on stimulus spending. This year, austerity packages will hit household income in most countries:
• Greeks lose 14% of their income, €5600 ($7600)
• Ireland and Portugal lose 5%
• Spain loses 5%, and Italy 3%
• Even the average German household will lose 1%