The Irish finance minister is drowning in cash. Booming tax revenues the clearest indicator - much better than GDP - that the economy remains robust. Politics over economics: Charlie McCreevy once said when finance minister, "If I have it, I'll spend it'. It's not what the budgetary watchdog or the central bank would endorse - quite the opposite of course. But if its bad economics, is it good politics? If so, the upcoming budget is going to be something else. Will that budget be quickly followed...
Jul 08, 2024•39 min•Transcript available on Metacast In this podcast we welcome back regular guest, Professor Shane O'Mara, neuroscientist and professor at Trinity College Dublin. I a review of an important new book by Dan Davies, professor Brad de Long of Berkley asks the question: given we are over 15 times better off than our pre-industrial ancestors, why are we so miserable. Davies gives one answer: things have become so complex, few people know how anything works any more and nobody is in charge. So nobody is accountable. 'Nothing works any m...
Jul 04, 2024•42 min•Transcript available on Metacast The French elections will likely reverberate across Europe. Perhaps even alter the course of the war in Ukraine. The UK will now see the final death throes of the Tory Party. Farage is on the cusp of another victory. Of sorts. Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information....
Jul 01, 2024•27 min•Transcript available on Metacast The most inept election campaign in history? Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information.
Jun 21, 2024•31 min•Transcript available on Metacast Is The Other Hand behind the demise of Sinn Fein? Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information.
Jun 16, 2024•26 min•Transcript available on Metacast An immediate post-budget Irish election? Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information.
Jun 07, 2024•28 min•Transcript available on Metacast How far can EU rate cuts diverge from the US? And much more! Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information.
Jun 02, 2024•35 min•Transcript available on Metacast Jean-Claude Juncker, ex-head of the EU Commission, once famously said that policymakers know what is the right thing to do, but don't know how to get re-elected if they do it. That is true too much of the time. But is there a unique opportunity for the Irish government, for once to do the right thing and to be rewarded for it at the ballot box? Finance Minister McGrath has promised a tax-cutting budget. Is he missing a trick? Housing has such political salience in Ireland, if he threw the kitche...
May 29, 2024•35 min•Transcript available on Metacast UK election dominates headlines that should be about China simulating war Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information....
May 26, 2024•34 min•Transcript available on Metacast Inflation falls in the UK but *only* to 2.3%. Cue weeping and wailing and much hot air. The narcissism of small differences. Does anybody know what really causes inflation? Does the ECB understand the connection (or lack of) between interest rates and inflation? The human aspects of all this are often lost in dry discussions of monetary policy and inflation. But the human dimension is real, big and too often ignored by central banks. Nvidia, AI, data centres and the nuttiness of stock markets. H...
May 23, 2024•33 min•Transcript available on Metacast Opinion polls on both sides of the Atlantic tell fascinating stories. Sinn Fein has lost momentum. Have they peaked too soon? Rishi Sunak's Tories are now polling at lower levels that the nadir of Liz Truss' government. That really is some going. Trump breaks wind audibly in court, hears stories about his sexual peccadillos and goes up in the polls. It is said that SF are suffering because 'they have let their electorate down because of immigration'. Right wing parties everywhere, including Irel...
May 19, 2024•28 min•Transcript available on Metacast We might need 80,000 new houses a year - or we might not. It all depends on so many imponderables. One of them being the level of immigration. We now see that everywhere as a problem to be solved. Is it solvable? Biden is trying to keep cheap Chinese electronic vehicles out of the US. Europe is thinking about doing the same. That's all to protect domestic car manufacturers who don't know how to produce cheap EVs. The Chinese do. We are repeating the mistakes of the 1970s when Japanese car manufa...
May 15, 2024•30 min•Transcript available on Metacast The State the UK is in & much more! Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information.
May 13, 2024•31 min•Transcript available on Metacast In conversation with Professor of Experimental Brain Research, Shane O'Mara. Robert Kennedy Junior says a worm has eaten part of his brain. Is this possible? Yes - but his 'brain fog' and other symptoms could have been caused by something else. Partly eaten or not, his possible brain injuries are not likely to have led to a predisposition to conspiracy theories. RFK is a prominent anti-vaxxer, for instance. Why do so many of us fall for conspiracy theories? Belonging, group hugs and tribalism ar...
May 11, 2024•39 min•Transcript available on Metacast The economic consequences of the war in Gaza have so far been very limited. The oil price has been well-behaved, all things considered. But that war is shaping up to be a forever war. That's the logical conclusion that flows from observing two sides committed to the other's destruction. If the war costs Biden the election then another logical conclusion is that the great Bidenomics experiment is over. There is a lot of doubt about the fiscal sustainability of Biden's economic program but not eno...
May 09, 2024•30 min•Transcript available on Metacast Unemployment edges up on both sides of the Atlantic - things are definitely showing early signs of slowing down. Whatever the outlook there are very good reasons to quietly ditch the 2% inflation targets that apply to the FED, BoE and ECB - particularly in the US, too much harm will be caused by a drive to 2%. Quietly adopt 3% inflation targets and get on with interest rate cuts. That 2% number was plucked out of thin air in the first place, decades ago, and has outlasted its usefulness. Rishi S...
May 05, 2024•35 min•Transcript available on Metacast The border never went away you know. Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information.
May 01, 2024•40 min•Transcript available on Metacast A packed podcast: It may be the ultimate social faux pas, but dare we say the latest Revenue annual report contains a wealth of fascinating data? Back taxes owed by SMEs could be - maybe are - a real problem Short-termism: anyone wondering why some companies and countries don't inest enough in themselves need look no further than META's (Facebook) results this week. The shares tanked because the tech giant announced a huge capital spending program (mostly in AI). Financial markets want one thing...
Apr 28, 2024•33 min•Transcript available on Metacast The Irish government has released its latest assessment of where the economy is heading. It looks like. a forlorn attempt to dampen expectations ahead of another giveaway budget in a few months time. The last before the general election. The golden goose will someday stop laying its eggs. What will future generations think of us, what we did the largesses generously donated by the multinational tax boom? Will we be 'grateful Norwegians', now rich because they saved their windfall taxes (from oil...
Apr 25, 2024•31 min•Transcript available on Metacast Wing nuts are in charge? Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information.
Apr 21, 2024•37 min•Transcript available on Metacast Latest opinion polls - and a bit of political crystal ball gazing - points to no one party getting more than 30% of the vote at the upcoming Irish general election. Why is that and what might it mean? Will Ireland 'Go Dutch' (or Belgian...)? Are we in for weeks or even months of prolonged coalition negotiations? The deteriorating geopolitical situation might give voters pause for thought about the sort of politicians they want. As talk of WW3 gets louder, will Ireland want to be led by SF? What ...
Apr 18, 2024•31 min•Transcript available on Metacast Initial financial market reaction to big events is often wrong Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information.
Apr 16, 2024•34 min•Transcript available on Metacast More thoughts on the. Economics of Irish reunification Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information.
Apr 14, 2024•29 min•Transcript available on Metacast Professor Edgar Morgenroth has recently published a joint paper with professor John Fitzgerald that takes a deep dive into the potential costs of Irish reunification. We talk to Edgar about his work. We look at lessons from german reunification and the asumptions behind his estimates that it could cost the Irish taxpayer a lot of money. And a lot of sweat and tears. Planning will be essential. Bad outcomes after ill thought out referendums have historical precedent. Brexit for instance. Become a...
Apr 11, 2024•49 min•Transcript available on Metacast Watch the oil price Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information.
Apr 08, 2024•27 min•Transcript available on Metacast Irish and Eurozone inflation falls again - what is the ECB waiting for? In the US, the super soaraway economy is dashing hopes of quick rate cuts . Perhaps any rate cuts. We need to remind ourselves that this is a good thing. Will the earthquake in Taiwan create another supply shock? We think not but it is worth watching. So are oil prices worth close monitoring. Preparing for war on islands just off Taiwan. Is the EV craze cresting? Why do some US Republicans believe anything that Putin says? W...
Apr 03, 2024•32 min•Transcript available on Metacast One of the first thing that economists are taught is the Free Trade is a Good Thing. One thing that economists don't speak too much about is that free trade creates both winners and losers. Arguably, not nearly enough attention has been paid to the losers. Whether or free trade is always a net positive depends on many factors. And the alternatives to free trade - the choices made by politicians about things like protectionism - can be even worse. That said, China's accession to the World Trade O...
Mar 31, 2024•36 min•Transcript available on Metacast Leading journalist Sarah Carey talks to Jim and Chris about Leo Varadkar's departure and Simon Harris' accession. 'Harris needs to be much more than a good communicator'. The big test, one of many, will be his choice of cabinet. That will signal whether genuine change is on the way. 'The reshuffle will tell us if Harris is serious' Will any exiting FG TDs be tempted back? Why are so many voices of the centre so scared to speak up? Why do 'progressives' oppose building anything? Harris should ban...
Mar 27, 2024•35 min•Transcript available on Metacast Global growth showing signs of acceleration Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information.
Mar 23, 2024•38 min•Transcript available on Metacast Markets are telling us to stop worrying Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns . Hosted on Acast. See acast.com/privacy for more information.
Mar 21, 2024•33 min•Transcript available on Metacast 
