Monday, March 30, 2009

Cowenesian Economics

Those of us who monitor the National Irony Level Indicator have identified April 7th as the day on which the readings are most likely to go off the chart or at the very least venture into perilous orange.

This is the day on which the Minister for Finance is set to talk up our knowledge economy credentials and potential while simultaneously reintroducing third level fees and increasing student teacher ratios.

He is also set to announce a substantial reduction in the €1billion annual budget of FAS, the state employment and training agency, in response to the recent emergence of a trend away from full employment to employment haemorrhaging.

This is not surprising as it is generally agreed amongst economists that during a period of economic and fiscal utopia it is vital to grossly over fund your state employment agency and that during a period of economic and fiscal freefall it is equally as important to slash that funding as mercilessly as possible.

It is known internationally as "The Offaly Approach".

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