Good Sleep Guy ☠️

[Handre @Handre]

Two small island economies blew up in 2008. Iceland and Ireland. Their names differ by one letter, and their handling of the crisis differed by everything that matters.

Iceland's three big banks, Kaupthing, Landsbanki, and Glitnir, had grown assets to roughly ten times the country's GDP by 2008. Pure credit-fueled madness. When the music stopped, the Icelandic government did the unthinkable: it let them fail. Bondholders ate the losses. The state refused to socialize private bank debt onto 320,000 citizens who never signed up for it. Capital controls went up, the króna collapsed, and the politicians actually prosecuted bankers. Twenty-six of them went to prison. Sigurður Einarsson and Hreiðar Már Sigurðsson, the men who ran Kaupthing, served real sentences.

Ireland took the opposite road. In September 2008, the Irish government issued a blanket guarantee covering the liabilities of its major banks, including Anglo Irish Bank, a property-lending casino that should have been allowed to die in peace. The taxpayer absorbed the bill. By the time the rescue ended, Ireland had poured around 64 billion euros into its banks, roughly 40 percent of GDP. The state took on private gambling debts, then went to the Troika in 2010 hat in hand for an 85 billion euro bailout, and accepted years of austerity to pay for losses it had no business owning.

Both economies recovered. Both eventually grew again. The difference is who paid and who learned. Iceland made creditors and reckless bankers bear the consequences of their own decisions, which is the entire point of capitalism: profit and loss, not profit and bailout. Ireland protected the people who made the bad bets and handed the invoice to schoolteachers and shopkeepers.

You will hear economists call Ireland's GDP rebound a triumph (much of that "growth" is multinational accounting fiction, Leprechaun economics, but that's another lesson). What they skip is the moral architecture. When you guarantee bank liabilities, you abolish the discipline that makes markets work. You tell every banker in the country that downside is optional.

Iceland jailed its bankers. Ireland reimbursed theirs.

[Good Sleep Guy ☠️ @plvconaghan]

@george_madeja @Aella_Girl Yeah I wouldn't compare 'flu' to perimenopause

[Joseph 🕊️ @CaudilloXIV]

they’re putting something in the water that makes you pee

[jz2 @mixedgrass666]

It’s good to drink a lot of alcohol so that when you need a straightforward way to improve your life you can stop drinking

[🪩🎲🍒 @expired_grl]

maybe your cat is meowing bc it wants a cigarette

[syrian princess اشلي @LupeVirgilMom]

by thomas wykes. had me crying laughing

[Guilherme Nunes @guilhernunes_]

Yorkshire doing astral projection to get away after nobody laughed at his joke.

[ًً @stoyatel]

just saw an absolute fucking chad on my timeline

[Trick Forever @khiazmos]

I like Hunter Biden because he isn’t one of those guys that gets sober and then pretends being a degenerate isn’t insanely fun

[Natalie Would @_NatalieWould]

I'm the cunt of the litter

[Daniel Lambert @dlLambo]

“We represent our people, the people of Ireland, we’ve got to take that into account, what their opinion is on it all as well.

I’m a dad, I’m a husband, I’ve got a heart, I know the difference between right and wrong."

Would it appear Seamus is considering boycotting?

[Daniel Lambert @dlLambo]

Richie Sadlier👏🏻👏🏻👏🏻

"It's baffling to me, how...it is controversial or contentious or objectionable that someone suggests...do you know what maybe let's not play football against them.

Maybe instead of playing a match against them, maybe let's not play a match."

[Manus Carlisle @manus_carlisle]

Fianna Fáil and Fine Gael told you this was impossible without action at EU level

Spain and the Netherlands did it overnight.

[MENA Visuals @menavisualss]

🇱🇧 A Palestinian Soldier Petting a Kitten, Beirut, 1982.

[lewis @Lewiswbt1]

[reading only the first word and last word of this reply] glad you agree with me 👍

[josh (oldfriend99) @oldfriend99]

Paul McCartney's mother forbade him from listening to The Beatles when he was growing up. "It wouldn't make sense," she'd say. "It doesn't make any sense.."

[BUCHANAN: Dublin Time Machine @RobLooseCannon]

Was your ancestor in the IRA, Cumann na mBan or Na Fianna Éireann in the 1920s? You might be able to find them on this new Irish Military archive! The Nominal Rolls have a comprehensive record of the membership, ranks, and structures of those organisations on two specific historic dates. During the Truce (11 July 1921) and the outbreak of the Civil War (1 July 1922).

The archive was compiled in the 1930s to verify pension claims, and have some fascinating details like operational positions across local battalions, flying columns, and international units. Its brilliant, check it out
https://t.co/9YBaWMyf5n

[Bella @BellaBaddie__]

Does anyone else spend the entire modern movie turning the volume up and down because there is zero sound consistency in movies anymore?

[richard @richard_normal]

good sketch here. very classic. good bones. great delivery. this is the kind of stuff they used to make on the internet. but not anymore.